Bitcoin and Litecoin mining with Asteroid for Mac ZDNet
What Is a USB Bitcoin Miner and How Does It Work?
USB bitcoin miner: What is it & how does it work? - Coinnounce
Cgminer Solo Mining Bitcoin Core CryptoCoins Info Club
Why I choose Bitcoin Cash over Bitcoin
A few days ago I posted my doubts and criticism about BTC vs BCH, but now I have made my mind up after a lenghty research yesterday and today, I have chosen BCH. Disclaimer: I have already owned BCH before that. So I was already on board BCH, but I had my doubts about it, and certainly the noise the other side makes, it made me doubt myself whether I made the best choice or not. After all it's about money, and the first thing that comes into a person's mind is that it worries about losing it. So if BCH would have been inferior to BTC then there would have been a strong chance of losing that money, through the price doing down like with the other fake coins Bitcoin Gold, Bitcoin Diamond, etc... Because from an investment standpoint I shouldn't care about sides, I just want the one that has a better future and more potential in it. So if I would have found out that BTC is better I would have sold my BCH for BTC obviously, I would have no sentimental attachment to either of them, I just want to be on the right side. Eventually hedge, but hedging is like the game of uncertain people, and there is no uncertainty here, all the evidence shows one side to be much better than the other. It's not even like 70-30, it's more like 99-1. Now I did a lenghty research, read all the comments on my posts, and compared them to the claim BTC makes on their websites and influential BTC people have stated, asked questions, used logic, and it's now objectively clear to me that BCH is the right side to be on.
I was already doubtful about BTC, that is why I have switched to BCH about a year ago, I saw their shady activities, but the final nail in the coffin was probably the massive FEE problem, that started last November and ended in February. That made me totally dislike BTC. However now that the fees are normal in BTC, I had a doubt in my mind that what if they are right? What if the fee spike was just a coordinated attack on BTC, and now that it's over, BTC is just as good as BCH. I mean if the fees are normal now, and about the same last I looked (maybe BTC is like 20% more expensive but still low like 60 cents), it gives some credibility back to BTC. There are theories that the coordinated attack was a conspiracy against BTC, but then again BTC has it's own conspiracies too, so why not just ignore the conspiracy theories and look at the facts. The fact is that it doesn't matter what it was, the mere fact that it happened, and it crippled the network for 4 months, shows that BTC has serious flaws. And it can happen again. So it doesn't matter who did it, it happened, and the network was crippled. Now if a network can be crippled like that, and if you want this network to host a global payment system, then we will have huge problems. BCH can defend against such attack much more effectively because it costs more to fill up a 32MB block than a 1MB block, 32x harder. Plus a 32MB block is so small that anyone can handle that right now, even if a 4 month period attack would happen against BCH, and it would be 32x more costly, so it would be harder to pull off. However if a bigger budgeted attacker would attack again BTC with a 32x budget, then it would cripple BTC for 10 YEARS!!! That would literally make Bitcoin literally die.
Non Mining Nodes
One aspect that the BTC people say is that non miner "full nodes" are sacrosanct, and that we need them to keep miners in check, but I haven't heard any coherent answers as to why. I have read the whitepaper twice, once today and once yesterday, and it states there clearly what the real truth is. You should definitely download and archive the whitepaper because some people tried to rewrite it, Orwellian style, so grab the original one here: https://blockchair.com/bitcoin/whitepaper [Download it and save it on your own computer SHA256: b1674191a88ec5cdd733e4240a81803105dc412d6c6708d53ab94fc248f4f553, these Orwellian trolls might try to gaslight you eventually and rewrite the past!] The whitepaper mentions 3 times that:
The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes.
The proof-of-work also solves the problem of determining representation in majority decision making. If the majority were based on one-IP-address-one-vote, it could be subverted by anyone able to allocate many IPs. Proof-of-work is essentially one-CPU-one-vote. The majority decision is represented by the longest chain, which has the greatest proof-of-work effort invested in it. If a majority of CPU power is controlled by honest nodes, the honest chain will grow the fastest and outpace any competing chains.
This is word for word how the whitepaper says it. So this alone disproves the full node myth, it's complete nonsense. The miners have total control, and the nodes don't matter. Satoshi designed a 1 CPU 1 vote system, where every node is a miner node. He could not forecast large farm ASIC miners, but then again that isn't resolved by just running non miner nodes. Furthermore the full node system doesn't have any collective benefit only individual one, which we will get into next, and it might even be a drag: Instead of going from A->D, you have to go to A->B->C->D with a full node system, adding extra inefficiency and latency. Keep in mind, this is not a medieval pidgeon relay messaging system, the information travels at the speed of light, so there is no need for extra relays, in fact adding extra relays just creates extra latency. You eventually have to communicate with a miner, so what is the point in having extra "bus stops" along the way? It's just a waste of resources. We do need many miners to secure the network, and instead of wasting resources on non-mining nodes, they should just spend that on mining if they really want decentralization.
Another claim that they make is that SPV wallets are insecure. Which is somewhat true, but out of perspective. For general users SPV wallets are totally fine. And I don't think SPV security is lower than what anyone except a billionaire who keeps all his coins in 1 address (very stupid) would need. This explained well in the whitepaper in the page 5/ paragraph 8 "Simplified Payment Verification" section. The SPV is probabilistically secure, because it fetches blocks that are already agreed upon, so unless a big conspiracy is taking place, miners rewriting the chain, this gives people a probabilistic security. Most SPV wallets are well implemented so they use the best tools to keep your coin history reasonably accurate, so they fetch data from multiple random servers and compare against it. Certainly Electrum/Electron Cash does this well. One thing I might add is that it's good to use a VPN too with SPV wallets, in case your are personally targeted by a criminal, so your IP address is randomized too for extra security, so you won't download honeypot blocks that are specifically targeting your IP. But other than that SPV is just reasonably secure, and by that I mean that it's probably below 0.1% that your coin history can be deceitful, and even then if you wait for 10-15 confirmations and shuffle your VPN IP address around enough times, you can be absolutely sure that the history is accurate. So their fear is overblown and they are just fearmongering on this, the same way people fearmonger about asteroid impact or alien invasion, it's just not reasonable.
Now as you can see already that a lot of these claims have been utterly debunked, and they don't have coherent arguments to address the rebuttals, in fact in most cases they resort to ad hominems and insults (which I have experienced, just for asking questions). But the coup de grace happens when you realize how inefficient LN is. And for that here are some references, it's mostly technical:
And perhaps it's explained in more simpler terms in youtube videos but the point is that there is real scientific proof that the LN will have awful consequences for the decentralization of BTC, and it inserts and unnecessary middleman into the mix that is a massive point of failure. It essentially creates a KYC regulated bank network on top of a settlement layer, and the governments around the world will have total control over that. Well the LN nodes are essentially money transmitters because they directly facilitate the transfer of money, so AML/KYC/Tax reporting/Surveillance will happen by default on these nodes. And given that LN can't be a decentralized system but a hub & spoke system, due to the need to keep your wallet online at all times, it will literally become a 3rd party custodian based banking system, literally. So all of the essence of Bitcoin [word for word quote from the whitepaper]:
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.
Will literally cease to exist, and it reverts BTC back into a government regulated banking system, literally.
There are other arguments too, but these are the main ones, and researching them thoroughly and understanding the issues made me lose all my doubts about Bitcoin Cash and all my faith in Bitcoin. It can't be any more clear to me now that Bitcoin Cash is the true version of Bitcoin, the real vision of Satoshi and the genuine implementation of it, with all the technical genius-ity that Satoshi had laid out in the whitepaper which is still relevant. Satoshi laid out everything in the whitepaper, and all of it is implemented geniusly in Bitcoin Cash except for paragraph 7 on page 4 "Reclaiming Disk Space" which talks about block pruning, I am not sure if this is Xthin Blocks or Compact Blocks or Thin Blocks (please explain in the comment section), otherwise it should be implemented, it would be a much better way for scaling than LN. But other than that BCH is technically superior. Now I don't know whether better things win in politics, but in engineering, if your design is shitty, it will inevitably fall apart. You can't have a skyscraper built on quicksand, it's inevitable disaster. So look, BCH is obviously risky, it has less users, less merchants; but because it has a solid foundation and probably the 3rd biggest community after ethereum, it has maaaaaaaaaaaaassive opportunity in it to become the best cryptocurrency (because ethereum has the same or worse issues than BTC). There is no question now whether BCH is better, the only question now is, how long will it take for people to realize this.
So I choose to stay with BCH, and now I am 101% supportive of it! Long Live Bitcoin Cash!!
Q: What is Asteroid Rush all about?A: Asteroid Rush is a blockchain MMO strategy game where you develop the asteroid belt. This is a literal cosmic-scale gold rush. You and your crew will battle for the right to develop asteroids and show off your best skills as you play. Q: What’s so special and interesting about this game?A: In addition to its engaging setting, we’ve introduced a lot of unique game mechanics. Assemble a crew of the best miners out there and upgrade their skills even further. Deploy them to mine valuable resources on asteroids, and hope you hit the jackpot! Besides making a profit, all miners have a common goal: colony development. As you invest in this goal, you effectively become a co-owner of the AR Inc. virtual company. In addition, the economy in Asteroid Rush is entirely blockchain-based. For our players, this means that everything in your possession will remain yours for good. Q: Yeah, about the setting... why asteroids?A: Asteroid mining is a popular and promising topic of discussion these days. No, we’re not kidding! Some organizations are already planning to extract valuable resources from nearby asteroids and developing the technologies that will enable them to do so. Asteroid maps are being drawn up, and the composition and resource potential of asteroids are being calculated. Mankind will begin mining resources in space before the end of this century. This reality inspired us to create a game based on it. Q: What is AR Inc.?A: AR Inc. is an in-game company we invented. This company owns a base on Ceres (the largest asteroid in the belt, often classified as a dwarf planet) and the space around Ceres, with the right to realize development of all the asteroids located within the area. The base’s infrastructure (living modules, engineering buildings, hangars, warehouses, etc.) also belong to AR Inc., and so do the transport and freight ships that transport miners and the resources they obtain. Q: When will the game be released?A: The Asteroid Rush pre-alpha release is planned for March 2019, after the first presale. This version will let you assemble a crew, choose an asteroid, and deploy your crew to mine valuable resources. We’re planning to release the alpha version of Asteroid Rush in May 2019. It will offer many more new game mechanics. Q: Will everyone be able to test the game? A: No, only gamers who took part in the presale can participate. Q: How can I take part in the presale? A: The presale takes place on the Asteroid Rush website at the following link https://game.asteroidrush.io/presale. You need to register and make any purchase at the presale page. Q: What will I receive if I take part in the presale? A: When they buy kits during the presale, players add upgraded colonist cards to their future team. It’s an especially good bargain now, with prices reduced. In addition, participants in the presale will receive Founder Tokens and the Founder status. They’ll also receive the rights to VIP status at the AR Inc. base, consumable kits, and a license to keep pets at the base. All Founders receive priority status in the project, and access to unique offers in the future. Q: What are Founder Tokens? A: Founder Tokens are a primary “social currency” aboard the AR Inc. trading station. Founder Tokens influence player status, clearly show the level of their team, give access to unique rewards, and serve as a kind of original share for future project expansions. Q: What cryptocurrency can be used to purchase something during the presale? A: You can use Pi-Astro tokens, as well as EOS, Bitcoin, and Etherium. You can get Pi-Astro tokens for any of the abovementioned cryptocurrencies right in the presale. Q: What are you planning for the future? A: There are lots of new features we’re planning to add to Asteroid Rush. We’re not ready to share them all just yet. You’ll have to wait and see for yourselves! Here’s a glimpse: we’re going to introduce mechs and a mech upgrade system, clan base development, and clan wars. We’re also planning to release Asteroid Rush for mobile platforms later. Q: Why does the game need a blockchain?A: The game’s logic is executed by smart contracts on a sidechain: all game mechanics, assets, and asteroids and the resources mined on them. This provides transparency and guarantees that the player’s possessions remain theirs. It also allows for accurate records of the players’ results and provides unique opportunities for special game features, such as investing in various parts of project development and unlocking the potential to become a co-owner. Blockchain also enables us to create a real, fair cashless barter economy based on trading and resource distribution. As the project develops, we may introduce jobs for players: trader, mercenary, trade business owner, sheriff etc. Q: Why EOS?A: Asteroid Rush utilizes fork of EOS for now. We are looking for the opportunity to use EOS sidechain, when it become possible. We need our own fork chain because the EOS mainchain would require players (or us) to pay significant sums of money to create an account and smart contract operation. Moreover, we have rather ambitious plans for the project’s development and so we cannot rely on the future of the EOS main chain. Therefore, we’re providing our game projects with our own foundation. Q: Are you going to cover players’ CPU, RAM, and NET costs?A: This will not be necessary, as we will be using our own sidechain. You won’t need to pay for CPU, RAM, or NET. Q: Will you have your own token?A: We will. Pi-Astro is our game’s premium token. You can use these tokens to buy presale bundles and Premium Colonist Cards and to get patents for mining rare asteroid resources in the future. Q: How can I make money in Asteroid Rush?A: Pi-Astro tokens will also be used as the currency for player deals and for auctions at our in-game auction house. Players will also have the ability to send each other these tokens. We will not be able to regulate these transactions – players will be able to come to their own independent agreements and trades. Q: How can I help the project?A: We really appreciate all your input. Follow us on social media, participate in discussions with us and other players, keep an eye on the news, share your suggestions, and give us feedback when the game is released. If you’d like to become a moderator or help us in other ways, that’d be awesome. Reach out to us! Q: How do I contact the devs?A: We don’t have an email address. Just PM us on Discord (https://discord.gg/D2UJ8Wx) or via any other social network. We’re looking forward to hearing from you!
https://preview.redd.it/1x8z4d3jlmd21.png?width=1200&format=png&auto=webp&s=5c71b1c55ae0efc0b06347af7126d63093d52537 Space is no place for casual strolls. Already, the brave pioneers who venture out to such seemingly small distances as our planet’s orbit have to face the tremendous vulnerability of systems that lack multiple standby redundancy. Systems designed to withstand the grueling operating environment of the Belt are not supposed to have any one central failure point at all. That’s the case for both data storage systems and, perhaps even more so, control systems. The financial system is no exception. Business in space is not possible without decentralized economic institutions, and we’re currently witnessing the birth of this industry. We’re not talking about blockchain for bitcoin, which is merely decentralized money by definition. We’re talking advanced economic tools and mechanisms that can be executed through smart contracts, allowing us to preset full-scale autonomous organizations. AR Inc, the in-game company we invented, is one such organization. This company owns a base on Ceres (the largest asteroid in the belt, often classified as a dwarf planet) and the space around Ceres, with the right to realize development of all the asteroids located within the area. The base’s infrastructure (living modules, engineering buildings, hangars, warehouses, etc.) also belong to AR Inc., and so do the transport and freight ships that transport miners and the resources they obtain. It’s clear to everyone interested in blockchain and cryptocurrency that bitcoin is a blatant example of an energy-inefficient system. Not everyone is aware, though, that bitcoin doesn’t have a central management body or a universal issuer of the cryptocurrency coins often portrayed as those amusing golden circles with a symbol resembling both a dollar sign and the letter B depicted on them. Bitcoin is one of the first autonomous companies, if one can consider something designed for the sole purpose of obtaining money a company. And yet jobs are always available in this company. Anyone can take their chances: just buy or rent a PC and start mining. Once preset, this autonomous company now belongs to no one. Its founder, if he ever existed in the first place, has probably long since departed from this world. So what compels new prospectors to hire themselves on with the lifeless automaton? Motivation. The system regulates itself via a well-balanced reward mechanism. The fewer nodes there are in a bitcoin network, the higher the reward given to the lucky player who obtains a cryptographically valid block. By the same token, more participants investing their savings up to the last penny in cryptocurrency mining means a smaller chance to earn anything at all. Let’s imagine a more daunting task now: What if we, the Earth’s inhabitants, choose to launch a megaproject designed to last for several generations, or maybe even a few thousand years? Will we be able to assemble a project team with enough resolve not to give up when faced with the first challenges? Is there any chance that the project goal will remain unchanged over time if only standard management approaches are used? We’re not sure this question has a clear-cut answer, but we can consider an option that doesn’t involve project control at all, based instead on participant motivation to perform predefined engineered functions. Imagine a global goal, such as the construction of a space station designed to pave the path all the way to the stars for mankind. All calculations for a structure like this can be completed within the lifespan of one generation, but the construction process itself may well last over decades, requiring the accumulation of most of the resources of the inner Solar System. These resources will obviously be procured by companies like AR Inc.: unbiased, efficient, calculating, and fully autonomous. Now, how does AR Inc. operate, and what is participant motivation based on? This is precisely what our game is meant to show.
Placed my first order on Cryptorush!! Also some thoughts!
IDK how this cryptorush site works exactly, but I placed an order for 7500, at 800 satoshi, for a total of .06 BTC (I like the even numbers...) I've been following potcoin for about 10 days now and just recently also made my first bitcoin order! I bought .11 over at coinbase after staring at the candlesticks on wisdom for an entire night for $608 because I didn't want it to go any higher and by the time I woke up it was down in the $560 range i believe haha. So anyway I really think potcoins are going to blow up and with that 3000+ % change yesterday it's going to be a hard coin for anyone to ignore now. So to recap I'm just trying to get my first large amount of coins so I can go to bed, and want to use more than half of my current BTC to get some POT!! I tried my hand at mining for the past day, but my wimpy laptop gets 14 KH/S at best, so I've only generated about 10 coins off that (shoutout to Asteroid Miner and Chunky Pool though!!). Bringing my total Potcoins in my wallet up to about 28 due to a gracious tip I received from a member of the subreddit... I NEED MORE!! This community seems amazing and i've watched it growing from just the short time i've been here, so I'm hoping I can get a little "charity" if you would be so kind to sell me some of your pot, idk how you fill an order or whatever but yeah.. oh and I just saw /potcoinbeg in the sidebar as I was finishing up.. so hmm yea uh idk if i'm technically 'begging' since i'm more buying oh but maybe I should be in /potcoinmarket... dammit so maybe that's where this goes. darn. I think i'll just stick it here since I doubt those other ones have nearly as much traffic as this sub but hey sorry if this is against the rules a mod can move or delete this i guess if they want, but yeah I'm really excited to see what the future holds and look forward to being a member of this pizza. UPDATE: I just had an order filled, I ended up spending 1009 Satoshis for 5942.0 (420)! coins instead of my original want of 7500, but i'm happy with my purchase and look forward to seeing what happens mid April!
I'm writing a science fiction story (with elements of other genres too) and it involves minimal (mostly accidental) time travel between the near future and and somewhere after the turn of the 41st century. It's possible that there will be multiple parallel timelines, so the future could have a few possibilities. This is one vision I had in mind so far: I'd like us to have terraformed another world by that time at least. I expect there will be space travel that's fairly common like air flight is today. There would be a lower population than today due to a third world war for resources like fresh water and fuel. Eventually the fighting would stop after break through in alternative fuels and desalination tech are achieved. By 4000ad, the world would have more smaller countries, including the USA being broken into several sovereign countries. Most of the world that's at sea level will be flooded by the ocean due to all ice melting, like in Greenland and the poles. There wouldn't be much ozone left. A lot of the world would be too polluted to live in (see the pollution troubles in China recently, but at larger scale). Robots would be even more common and have advanced AI that is bound only by the classic three laws. Humans would have easy access to prosthetic body parts, but there would be controversy around who truly owns it in the same way that we argue with phone companies over true ownership of out gadgets. Or it could be that prosthetics become a commodity enough that it's cheap to pay for full ownership. Assuming the internet is still around and even more ubiquitous, commerce would be entirely digital a la bitcoin and NFC payments. There would also be asteroid mining at the Lagrange points with space station habitat colonies for workers these asteroids would be mined for rare earth minerals used in tech. These are some of my ideas that I'm toying with and I may end up changing them. This future society and how I shape it with impact how the story goes and how the characters are formed. Also, here's a link to some inspiring music. I have an entire playlist of songs (not all like this one) that I listen too when writing and brainstorming. I look forward to reading your comments and predictions.
What is cryptocurrency? 21st-century unicorn – or the money of the future? This introduction explains the most important thing about cryptocurrencies. After you‘ve read it, you‘ll know more about it than most other humans. Today cryptocurrencies have become a global phenomenon known to most people. While still somehow geeky and not understood by most people, banks, governments and many companies are aware of its importance. In 2016, you‘ll have a hard time finding a major bank, a big accounting firm, a prominent software company or a government that did not research cryptocurrencies, publish a paper about it or start a so-called blockchain-project. But beyond the noise and the press releases the overwhelming majority of people – even bankers, consultants, scientists, and developers – have a very limited knowledge about cryptocurrencies. They often fail to even understand the basic concepts. So let‘s walk through the whole story. What are cryptocurrencies? Where did cryptocurrency originate? Why should you learn about cryptocurrency? And what do you need to know about cryptocurrency? What is cryptocurrency and how cryptocurrencies emerged as a side product of digital cash Few people know, but cryptocurrencies emerged as a side product of another invention. Satoshi Nakamoto, the unknown inventor of Bitcoin, the first and still most important cryptocurrency, never intended to invent a currency. In his announcement of Bitcoin in late 2008, Satoshi said he developed “A Peer-to-Peer Electronic Cash System.“ His goal was to invent something; many people failed to create before digital cash. The single most important part of Satoshi‘s invention was that he found a way to build a decentralized digital cash system. In the nineties, there have been many attempts to create digital money, but they all failed. After seeing all the centralized attempts fail, Satoshi tried to build a digital cash system without a central entity. Like a Peer-to-Peer networkfor file sharing. This decision became the birth of cryptocurrency. They are the missing piece Satoshi found to realize digital cash. The reason why is a bit technical and complex, but if you get it, you‘ll know more about cryptocurrencies than most people do. So, let‘s try to make it as easy as possible: To realize digital cash you need a payment network with accounts, balances, and transaction. That‘s easy to understand. One major problem every payment network has to solve is to prevent the so-called double spending: to prevent that one entity spends the same amount twice. Usually, this is done by a central server who keeps record about the balances. In a decentralized network, you don‘t have this server. So you need every single entity of the network to do this job. Every peer in the network needs to have a list with all transactions to check if future transactions are valid or an attempt to double spend. But how can these entities keep a consensus about this records? If the peers of the network disagree about only one single, minor balance, everything is broken. They need an absolute consensus. Usually, you take, again, a central authority to declare the correct state of balances. But how can you achieve consensus without a central authority? Nobody did know until Satoshi emerged out of nowhere. In fact, nobody believed it was even possible. Satoshi proved it was. His major innovation was to achieve consensus without a central authority. Cryptocurrencies are a part of this solution – the part that made the solution thrilling, fascinating and helped it to roll over the world. What are cryptocurrencies really? If you take away all the noise around cryptocurrencies and reduce it to a simple definition, you find it to be just limited entries in a database no one can change without fulfilling specific conditions. This may seem ordinary, but, believe it or not: this is exactly how you can define a currency. Take the money on your bank account: What is it more than entries in a database that can only be changed under specific conditions? You can even take physical coins and notes: What are they else than limited entries in a public physical database that can only be changed if you match the condition than you physically own the coins and notes? Money is all about a verified entry in some kind of database of accounts, balances, and transactions. How miners create coins and confirm transactions Let‘s have a look at the mechanism ruling the databases of cryptocurrencies. A cryptocurrency like Bitcoin consists of a network of peers. Every peer has a record of the complete history of all transactions and thus of the balance of every account. A transaction is a file that says, “Bob gives X Bitcoin to Alice“ and is signed by Bob‘s private key. It‘s basic public key cryptography, nothing special at all. After signed, a transaction is broadcasted in the network, sent from one peer to every other peer. This is basic p2p-technology. Nothing special at all, again. The transaction is known almost immediately by the whole network. But only after a specific amount of time it gets confirmed. Confirmation is a critical concept in cryptocurrencies. You could say that cryptocurrencies are all about confirmation. As long as a transaction is unconfirmed, it is pending and can be forged. When a transaction is confirmed, it is set in stone. It is no longer forgeable, it can‘t be reversed, it is part of an immutable record of historical transactions: of the so-called blockchain. Only miners can confirm transactions. This is their job in a cryptocurrency-network. They take transactions, stamp them as legit and spread them in the network. After a transaction is confirmed by a miner, every node has to add it to its database. It has become part of the blockchain. For this job, the miners get rewarded with a token of the cryptocurrency, for example with Bitcoins. Since the miner‘s activity is the single most important part of cryptocurrency-system we should stay for a moment and take a deeper look on it. What are miners doing? Principally everybody can be a miner. Since a decentralized network has no authority to delegate this task, a cryptocurrency needs some kind of mechanism to prevent one ruling party from abusing it. Imagine someone creates thousands of peers and spreads forged transactions. The system would break immediately. So, Satoshi set the rule that the miners need to invest some work of their computers to qualify for this task. In fact, they have to find a hash – a product of a cryptographic function – that connects the new block with its predecessor. This is called the Proof-of-Work. In Bitcoin, it is based on the SHA 256 Hash algorithm. You don‘t need to understand details about SHA 256. It‘s only important you know that it can be the basis of a cryptologic puzzle the miners compete to solve. After finding a solution, a miner can build a block and add it to the blockchain. As an incentive, he has the right to add a so-called coinbase transaction that gives him a specific number of Bitcoins. This is the only way to create valid Bitcoins. Bitcoins can only be created if miners solve a cryptographic puzzle. Since the difficulty of this puzzle increases the amount of computer power the whole miner’s invest, there is only a specific amount of cryptocurrency token that can be created in a given amount of time. This is part of the consensus no peer in the network can break. Revolutionary properties If you really think about it, Bitcoin, as a decentralized network of peers which keep a consensus about accounts and balances, is more a currency than the numbers you see in your bank account. What are these numbers more than entries in a database – a database which can be changed by people you don‘t see and by rules you don‘t know? Basically, cryptocurrencies are entries about token in decentralized consensus-databases. They are called CRYPTOcurrencies because the consensus-keeping process is secured by strong cryptography. Cryptocurrencies are built on cryptography. They are not secured by people or by trust, but by math. It is more probable that an asteroid falls on your house than that a bitcoin address is compromised. Describing the properties of cryptocurrencies we need to separate between transactional and monetary properties. While most cryptocurrencies share a common set of properties, they are not carved in stone. Transactional properties: 1.) Irreversible: After confirmation, a transaction can‘t be reversed. By nobody. And nobody means nobody. Not you, not your bank, not the president of the United States, not Satoshi, not your miner. Nobody. If you send money, you send it. Period. No one can help you, if you sent your funds to a scammer or if a hacker stole them from your computer. There is no safety net. 2.) Pseudonymous: Neither transactions nor accounts are connected to real-world identities. You receive Bitcoins on so-called addresses, which are randomly seeming chains of around 30 characters. While it is usually possible to analyze the transaction flow, it is not necessarily possible to connect the real world identity of users with those addresses. 3.) Fast and global: Transaction are propagated nearly instantly in the network and are confirmed in a couple of minutes. Since they happen in a global network of computers they are completely indifferent of your physical location. It doesn‘t matter if I send Bitcoin to my neighbour or to someone on the other side of the world. 4.) Secure: Cryptocurrency funds are locked in a public key cryptography system. Only the owner of the private key can send cryptocurrency. Strong cryptography and the magic of big numbers makes it impossible to break this scheme. A Bitcoin address is more secure than Fort Knox. 5.) Permissionless: You don‘t have to ask anybody to use cryptocurrency. It‘s just a software that everybody can download for free. After you installed it, you can receive and send Bitcoins or other cryptocurrencies. No one can prevent you. There is no gatekeeper. Monetary properties: 1.) Controlled supply: Most cryptocurrencies limit the supply of the tokens. In Bitcoin, the supply decreases in time and will reach its final number somewhere in around 2140. All cryptocurrencies control the supply of the token by a schedule written in the code. This means the monetary supply of a cryptocurrency in every given moment in the future can roughly be calculated today. There is no surprise. 2.) No debt but bearer: The Fiat-money on your bank account is created by debt, and the numbers, you see on your ledger represent nothing but debts. It‘s a system of IOU. Cryptocurrencies don‘t represent debts. They just represent themselves. They are money as hard as coins of gold. To understand the revolutionary impact of cryptocurrencies you need to consider both properties. Bitcoin as a permissionless, irreversible and pseudonymous means of payment is an attack on the control of banks and governments over the monetary transactions of their citizens. You can‘t hinder someone to use Bitcoin, you can‘t prohibit someone to accept a payment, you can‘t undo a transaction. As money with a limited, controlled supply that is not changeable by a government, a bank or any other central institution, cryptocurrencies attack the scope of the monetary policy. They take away the control central banks take on inflation or deflation by manipulating the monetary supply.
So I go and get all the software to start mining, while my new wallet is doing its thing, I do some research, turns out CPU mining is not all that its cracked up to be so my MBP might just end up being a pile of junk at the end. So after all the frustration, syncing, authenticated, worker creation, learning how to use Terminal, learning that I dont know how to use Asteroid, then finding cgminer and MacMiner, now I am going to have to go build a rig. Talk about a headache.... do we have a sub reddit for rig building? because I have never built a computer in my life and I am going to need some help... some guy in my area is selling a few Avalon systems for $1000 & $1350 respectfully....can I use those for doge? or is it bitcoin only? is it even a good deal? why so man questions? much things learned
Sup fellow reddit members! Today I'm here to give you guys a long introduction about bitcoins. Intro to bitcoins: Bitcoins are the first decentralized digital currency. Bitcoins are basically digital coins that you can send through the internet. Some advantages of bitcoins:
It can be transfered through other people without a bank having involved in the transaction.
The transaction fees are much lower.
You can use them in any and every country.
Your account (explained later) can never be frozen.
How it works: There are several online bitcoin currency exchange where you can exchange bitcoins for money and vice versa. Bitcoins are kept in a digital wallet on your computemobile device. coinbase.com is one of the most trustworthy online bitcoin wallet, IMO. Sending bitcoins is as simple as sending an email, and you can purchase ANYTHING with bitcoins as long as they accept the currency. The bitcoin software is completely open-sourced, so anyone can review the code. Bitcoins are easy + free to setup, and there are no chargebacks! How to obtain bitcoins: There are two ways to obtain bitcoins:
Mining them using applications. Miners solve math problems/bitcoin algorithms (which takes computing power) and are rewarded bitcoins for doing that. This is the one that I'm going to focus on, as it is pretty hard to grasp.
Mining bitcoins: Using special software application, you are able to mine bitcoins. Mining means to solve math problems/bitcoin algorithms using your computing power. Blocks are a chunk of 25 bitcoins, and if you solve one math problem you automatically get a block. The speed of mining bitcoins is measured in Hashes/Second (KH/s, MH/s, GH/s, TH/s etc.) The difficulty of the problems gradually increases as more bitcoins are found. Now, it is almost impossible to find bitcoin blocks by yourself, as more than 10 million bitcoins have been mined. Using special hardware (ASIC, Application-Specific Integrated Circuit chips) that specifically is aimed to mine bitcoins increases your mining speed by a lot. You can buy these hardware anywhere online/offline. amazon.com has many ASIC hardware on sale. But even ASIC mining can still take a long time to find a block by yourself. That's how the pooled mining began. Pooled mining basically combines the work of many miners toward a common goal. Pool of miners find the solution of the math problems faster than individuals, and they share the block equally based on each miner's hash rate. There are many pools right now that are pretty trustworthy, but that one that I use is triple mining: http://evilbeans124.triplemining.com Mining bitcoins on a Mac: This part is only dedicated on mining bitcoins for Mac users. If you're a PC user or a Linux/Ubuntu user, skip this.
Go to asteroidapp.com and download the latest version of Asteroid
Under the workers tab, add a new worker (on the right side)
Go back to GUI miner, enter in your worker username/password
If you have any hardware, then select them in the device tab. If not, skip this step
Mining bitcoins on a Ubuntu/Linux: This part is only dedicated on mining bitcoins for Linux/Ubuntu users. If you're a Mac or PC user, view above. Unfortunately, I have no experience in how to install any miner on Linux. The following website does however, so just follow it http://www.distrogeeks.com/install-cgminer-3-7-2-ubuntu/ The end I think I covered most of the points on bitcoins. However, if there is any mistakes/stuff that I should add, please put a comment below or PM me! It will be greatly valued! I spent sometime doing this, so some donation will be very appreciated. My bitcoin address is on my signature. Credits to bitcoin.com, bitcoinmining.com, triplemining.com/help, http://www.distrogeeks.com/install-cgminer-3-7-2-ubuntu/ Helpful? Considering mining in my pool: http://evilbeans124.triplemining.com (PM me if you STILL don't know how to mine bitcoins) Tip me at: http://evilbeans124.tip.me
I am just 12 hours into my dogecoin experience and I have to say this crypto-family has made me a better person. Let me explain how the unique magic of dogecoin has improved my life, much so, wow. First, like many of you on reddit I am decent with computers. However I switched to Mac OS X for college as i was creating multi-media. I never knew the OS like i did for windows until dogecoin came around. I also liked the idea of crypto-currency but never got into bitcoin because.... actually I don't really know why, but dogecoin was way to inviting so i decided to try it. I have run both windows and mac on my computer now so i started up my wallet and synced it! WOW! only a couple hours to sync compared to bitcoin, where i watched my buddy wait days for his wallet to sync. Then I have an NVIDIA card so from some research I got cuda miner going and made some batch scripts and got into my first pool. SUCH NICE to see doge coins accumulate while mining together. I am now hooked. However, I do like MAC OS X better now so how can i get this going on MAC? I used some programs like asteroid and mac miner but hashrate was too low. Now I was forced to make my first shell script. This may make some laugh but I jumped to the moon when it worked! Now i have CPUminer and CUDAminer working on my mac side with such success. I am having the time of my life (online). I cashed out some dogecoin and now I register with tipbot to try tipping people. Someone reply so I can send my first tip! I WANT to tip, that's another thing strange about this whole community. All in all, my computer hackzors elite skills have reached new heights and my altruism too. So can't understand, wont much need to, such nice confusion. TOOOO THE MOOON! P.S. I can probably help other MAC OS X NVIDA people out with mining.
Asteroid is a Bitcoin and Litecoin mining client for OS X that uses cgminer and a full suite of OS X technologies. While Bitcoin isn't cost-effective to mine without expensive hardware, Litecoin ... On a Windows machine, the file location would be:C:\User\yourusername\AppData\Roaming\Bitcoin\bitcoin.conf This bitcoin.conf is the configuration file for Bitcoin Core. Replace X with your username of choice, Q with the password you want it to be. Y is the TCP port number for RPC connections to listen to, which is the number you'll need for your Bitcoin Miner software. Commonly used software includes MacMiner, Asteroid, MinePeon, and BFGMiner. Instead of connecting to a standard PC or laptop, the USB bitcoin miner setup can be connected to other smaller, low ... Asteroid; MinePeon; BFGMiner Note: A USB bitcoin miner setup can also be connected to smaller, low-cost computer devices such as Raspberry Pi. USB Bitcoin miners. 1. ASIC Bitcoin Miner USB. ASIC bitcoin miner USB generates a power of 25 gigahash per second. To get started with this bitcoin miner USB, you need to insert the device into the computer and download drivers and the mining software ... Bitcoin is a decentralised crypto-currency; computers around the world constantly mine for bitcoins by solving complex mathematical problems. Once a certain number of problems have been solved, a block of bitcoins is released. The value of bitcoins has shot up since 2009 (though it has come back down from a peak of ar . trending; Asteroid Bitcoin Miner Mac Litecoin . Asteroid Bitcoin Miner Mac ...
Gold Will Eventually Be Worthless - Thanks to Asteroid Mining
With scientists having recently identified a single asteroid with more than £8,000 QUADRILLION worth of various metals, including gold, it's becoming increasingly clear that asteroid mining will ... How asteroid mining can allow us to travel to space Nina Hooper TEDxHarvardCollege - Duration: 17:08. TEDx Talks 77,429 views. 17:08. So I withdrew bitcoin from space mining within 14hrs of joining. Watch the video to see me do it. They offer free 100GH/S =====... My second look into my personal Fleet Carrier where we continue to learn how to best use it. Please subscribe to my channel, ring the bell for notifications and watch my other videos to support my ... Like Bitcoin itself, the mining hardware and software space moves at the speed of light and shortly after I posted my mining piece I switched to a new OS X mining client called Asteroid.