Hello guys ! I am new in mining and i want to do the best choice . I want to buy a bitcoin miner , but i dont know what miner to buy. A friend said that it is good to begin to buy this product http://haxshop.net/product/sinosigma-1-5t-avalon/ but I do not know if this is a good choice . What do you think is better?
The idea of that as more people adopt Bitcoin the price will stabilize to its long term exponential curve. Here's why I think that's true.
We're already seeing this. Check out the price charts to confirm.
It makes sense. The ratio of seasoned Bitcoiners to new investors increases over time. N00bs are far more likely to panic sell for a loss. So as more and more Bitcoin users develop their strong aversion to selling, the sharp downward swings (caused by panic selling n00bs) are reduced in severity and frequency.
Plus now we have larger, more wealthy entities who buy the dip. Microstrategy already publicly announced that they're doing this. So large dips are cut off before they gain any momentum. You'll only see large downward swings if someone cashes out a few million dollars in BTC all at once. But the severity of those dips will be blunted.
Regular buyers: Grayscale Bitcoin Trust alone is buying more than 100% of the newly mined Bitcoins. Where do you think the extra Bitcoin is coming from? (BTW glorious nation of Kazakhstan just invested $700,000,000 in Bitcoin mining gear). Eventually this pool of existing Bitcoin that they're buying from will dry up more and more. That's without even considering the massive effect that the 4 year halving cycle creates.
At the next halving 31months from now, the amount of new Bitcoin created gets cut in half again for the 4th time. This will run the well even drier. Let's say Grayscale continues to buy the same amount (even though they will definitely keep increasing their investment and other players will join in too). The faster the reserve of already existing Bitcoin is getting bought up, the faster the price goes up. The halvings increase this every 4 years.
It is an absolute certainty that Bitcoin will outperform every alternative investment and one day replace or completely dominate every other type of money. And for the Bitcoin scaling issue, the lightning network has already solved that. It does a million transactions per second, and has the capacity to send 10 BTC at once, instantly, for a few Satoshis (practically free). The Bitcoin blockchain will always run right about at capacity. The lightning network has private transactions. How do we know that Bitcoin together with Bitcoin lightning aren't doing as much business as Visa? There is no limit for how high Bitcoin will go. Compare this with TSLA. Today they have a P/E ratio of 1145. Many will consider this to be overvalued. That limits how high the stock price can go. Plus, you can't spend stock. You HAVE TO sell it first. Bitcoin has no such limits. The price of Bitcoin can and will continue to go up exponentially over the long term. As volatility improves, the pace of price increase should increase as well. Accelerating acceleration. You never need to sell Bitcoin. Just spend it, unlike stocks or other financial instruments. Eventually, after 6 or 7 more halvenings, Bitcoin will have a market cap of higher than the rest of the world's wealth combined. Every step is there between here and then. Eventually government created fiat money will be nearly entirely worthless by comparison. This halving period will create another bull run as more institutional investors adopt the hold forever strategy. Volatility goes down. Bitcoin becomes more famous for its performance, draws deeper attention, converts more believers/investors, more people hold forever, Bitcoin price goes to infinity with no limit. It's just a matter of time. Bitcoin is the most genius thing I've ever seen.
Has anyone ever attempted to build a FPGA hpc cluster using bitcoin mining gear to configure the FPGAs and 40-100G network to load the actual data sets for processing? Custom hardware yes, but could be useful for things like cryptography and the like. Possibly develop some generic RISCV soft processors with four or three pipelines, for a many core CPU on each chip. Could be interesting in practice and could be done multiple different ways, just getting that kind of internal band width stumps me. (200-400+ gb/s) Got several ideas, none are that economical DIY or enterprises for that matter.... Could scale really easily over multiple racks, just the network infrastructure needed is mind boggling. ~Kain Kelly
This is the best tl;dr I could make, original reduced by 60%. (I'm a bot)
SHANGHAI - China's state planner wants to ban bitcoin mining, according to a draft list of industrial activities the agency is seeking to stop in a sign of growing government pressure on the cryptocurrency sector. China is the world's largest market for computer hardware designed to mine bitcoin and other cryptocurrencies, even though such activities previously fell under a regulatory grey area. It did not stipulate a target date or plan for how to eliminate bitcoin mining, meaning that such activities should be phased out immediately, the document said. Chinese companies are also among the biggest manufacturers of bitcoin mining gear, and last year three filed for initial public offerings in Hong Kong, looking to raise billions of dollars. The two largest, Bitmain Technologies, the world's largest manufacturer of bitcoin mining gear, and Canaan Inc, have since let their applications lapse. According to Canaan's IPO prospectus filed last year, sales of blockchain hardware primarily for crypto currency mining in China were worth 8.7 billion yuan in 2017, 45 percent of global sales by value.
ViaBTC dropped price on cloud mining again - it may be a hot deal
I just posted this on a competing platform: The price for cloud mining contracts from ViaBTC dropped from 0.21 BTC to 0.18 BTC pr TH/s of mining power some few days ago - and currently, if the bitcoin difficulty would be steady, the investment will be paid back within a year (that's overly optimistic - but still, the profitability may be jolly good). Right now is probably a good time to buy in - but don't wait for too long, for every day the offer gets like 0.3% less attractive. ViaBTC takes a 6% cut of the profits, while 94% is paid out to the investors. Quite many other pools and cloud mining operators grab the fee income, ViaBTC includes the fees in the profit figure. I don't think there are other pools out there with better conditions. There are some things one should be aware of, though.
Cloud mining has a bad reputation
There has been many scams out there - some providers haven't even been running any mining operation at all, just been operating as a true Ponzi scheme, with the initiators grabbing the money and running away . Well, with ViaBTC we can be reasonably sure that they do indeed have mining equipment. I've been in for a while, and have received steady daily payouts. Also, if a company has the equipment for mining, why would they want to rent it out instead of earning the money themselves? One thing for sure, if an investment offer looks too good to be true, it usually is too good to be true. However, boosting the growth of a mining farm through crowdfunding is legitimate - if the realistic choice is between getting a 6% profit from 100 racks of mining gear or 100% profit from 1 rack of mining gear, then ... yes, cloud mining may be a win-win.
An investment into ViaBTC is a slightly political affair
ViaBTC is mining with the Bitcoin Unlimited software. As you may be aware of, the Bitcoin environment has been split into two fractions, some think that Bitcoin Unlimited is the only way to solve the current capacity problem, while others believe that Bitcoin Unlimited is dangerous and is obstructing progress rather than helping progress. You may want to do some research on this before supporting one side with your bitcoins. By investing into ViaBTC one is putting more mining gear on Chinese soil - already more than 50% of the hash rate is in China, it would have been better with a better geographical distribution of the mining gear. There is also the environmental issue - bitcoin mining takes a lot of energy, that probably could have been utilized in better ways.
You may not get the full investment back
Hashing power is growing all the time, and the more hashing power there is in the bitcoin network, the less profit for existing equipment. Consider those scenarios:
Bitcoin price drops with some orders of magnitude. Your investment will be pretty much gone, even hodling coins would be more profitable.
Bitcoin price a lot compared to fiat, i.e. to 25% of what it is today. Many miners will turn off their mining gear because they don't earn enough to pay the electricity, mining difficulty will fall. ViaBTC has the most power-efficient chips on the market and quite cheap power contract, so they will most likely still operate - and mine more coins due to the lowered difficulty. One will earn more BTC than the investment, so compared to hodling the coins one will win - but investing in fiat would have been more profitable.
Bitcoin price stays stable. One will most likely end up better than if one would be investing into fiat or hodling bitcoins.
Bitcoin price continue growing. This will cause more mining gear to be put online, which again means the difficulty will raise, which again means your equipment will be producing less bitcoins. In this scenario one may not get the full bitcoin investment back - but one will probably still be much better off than if one would have been investing into fiat!
Some new and revolutionary bitcoin mining gear is put to the market. Your profitability will go down.
Backdoor Code Discovered in Popular Bitcoin Mining Equipment
This is an automatic summary, original reduced by 74%.
An unknown security researcher has published details on a vulnerability named "Antbleed," which the author claims is a remote backdoor affecting Bitcoin mining equipment sold by Bitmain, the largest vendor of crypto-currency mining hardware on the market. According to these lines of code, if the Bitmain service returns a response of "False," the user's equipment will stop any mining operations. Antminer is currently one of the most popular Bitcoin mining equipment on the market. Minerlink.com domain is hardcoded in the firmware's source code, owners of affected Bitcoin mining gear can permanently protect against remote the remote shut down of their mining equipment by modifying their hosts file and pointing the auth. According to his estimatations around 70% of the entire Bitcoin hashrate calculations run on Bitmain devices, meaning an attacker could shut down a large part of the Bitcoin mining ecosystem if he manages to take over the minerlink.com domain and issue a shutdown command. Shutting down Bitcoin mining means shutting down the verification of Bitcoin transactions, affecting the Bitcoin ecosystem itself.
Summary Source | FAQ | Theory | Feedback | Topfivekeywords: Bitmain#1Bitcoin#2Antbleed#3equipment#4backdoor#5 Post found in /technology. NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
Identifiable Digital Currency - GreenCoinX (X-over from r/CryptoCurrency
Created to act as a supplement to bitcoin, not a replacement! Users must verify themselves via mobile & email. Identifiable information is then linked to their address
mobile number
email
ip
isp
city
country
additional information (user defined)
You cannot send or receive without identifying yourself Miners must identify themselves to mine Easier to send or receive
Users only need the recipient's email address, or telephone number
It is far easier to tell someone your email address, and/or they might already know your mobile address
You can still use the standard long code or QR codes
Capital controls are implemented (country to country)
Governments worried about capital controls will be able to turn this on/off
Not applicable internally within a country
User defined taxation
Government can set xx as tax percentage
User defines whether a transaction is to include tax or not
Tax is then automatically sent to government agency
In most cases, taxation with bitcoin currently exist at the point of conversion to fiat. But eventually governments will try to apply it directly to cryptocurrency. XGC exists for those that want to be tax friendly and as something governments can experiment with/use instead of bringing that 'tax' attention to bitcoin. Identification is currently stored server side, it will be migrated onto its own block chain, or XGC's block chain. Ping back (for identification purposes) is done via server, this will be migrated to multiple servers worldwide. Why use Identifiable Digital Currency?
You might want to know the identity of the senderecipient in cases of purchases/sales
You might want to donate large amounts to charities or political parties
If you are subject to theft/hacking, you might want to get information on the identity of the thief
You might want to pay your taxes on certain transactions
You might use identifiable digital currency, then trade back into bitcoin when done
You might want to use future features for company shares purposes
You also might want to use future features for the purposes of voting
Please note: XGC should be considered beta, as there are many features that we can and want to add, such as the taxation feature is only half the solution at the moment. If you are a developer you can contribute via the XGC GitHub page GreenCoinX (XGC) should not be considered a bitcoin replacement, but a supplement for when you want more identifiable features and ease of sending/receiving via email/mobile, or for eventual taxation purposes. Greenbank Capital is a corporate finance investment business focusing on investing in small cap publicly listed companies. GreenBank’s 100% subsidiary, GreenBank Financial has applied to the OSC for an exempt market dealer’s license. GreenBank’s 80% subsidiary GreenCoinX is a software company developing a unique cryptocurrency. GreenBank Capital:http://www.greenbankcapitalinc.com/ Canadian Securities Exchange:http://www.cnsx.ca/CNSX/Securities/Diversified-Industries/GreenBank-Capital-Inc.aspx (GBC) Download:https://greencoinx.com/greencoin/download GitHub:https://github.com/GreenCoin-Project/GreenCoin-Core You can currently trade XGC on IBWT (https://ibwt.co.uk/), or you can currently CPU mine. XGC uses the same algorithm as Bitcoin, it is our intention that early bitcoin miners will turn redundant bitcoin mining gear towards XGC. If you run an exchange or a trading platform you can integrate XGC as most other Cryptocurrencies though you will need to identify the hot wallet you use. The XGC team - https://greencoinx.com/ - Contact:[email protected] For business purposes:[email protected] (the majority of coins mined to date are being given out freely to businesses, agencies and other participants, not counting what random miners have mined)
Created to act as a supplement to bitcoin, not a replacement! Users must verify themselves via mobile & email. Identifiable information is then linked to their address
mobile number
email
ip
isp
city
country
additional information (user defined)
You cannot send or receive without identifying yourself Miners must identify themselves to mine Easier to send or receive
Users only need the recipient's email address, or telephone number
It is far easier to tell someone your email address, and/or they might already know your mobile address
You can still use the standard long code or QR codes
Capital controls are implemented (country to country)
Governments worried about capital controls will be able to turn this on/off
Not applicable internally within a country
User defined taxation
Government can set xx as tax percentage
User defines whether a transaction is to include tax or not
Tax is then automatically sent to government agency
In most cases, taxation with bitcoin currently exist at the point of conversion to fiat. But eventually governments will try to apply it directly to cryptocurrency. XGC exists for those that want to be tax friendly and as something governments can experiment with/use instead of bringing that 'tax' attention to bitcoin. Identification is currently stored server side, it will be migrated onto its own block chain, or XGC's block chain. Ping back (for identification purposes) is done via server, this will be migrated to multiple servers worldwide. Why use Identifiable Digital Currency?
You might want to know the identity of the senderecipient in cases of purchases/sales
You might want to donate large amounts to charities or political parties
If you are subject to theft/hacking, you might want to get information on the identity of the thief
You might want to pay your taxes on certain transactions
You might use identifiable digital currency, then trade back into bitcoin when done
You might want to use future features for company shares purposes
You also might want to use future features for the purposes of voting
Please note: XGC should be considered beta, as there are many features that we can and want to add, such as the taxation feature is only half the solution at the moment. If you are a developer you can contribute via the XGC GitHub page GreenCoinX (XGC) should not be considered a bitcoin replacement, but a supplement for when you want more identifiable features and ease of sending/receiving via email/mobile, or for eventual taxation purposes. Greenbank Capital is a corporate finance investment business focusing on investing in small cap publicly listed companies. GreenBank’s 100% subsidiary, GreenBank Financial has applied to the OSC for an exempt market dealer’s license. GreenBank’s 80% subsidiary GreenCoinX is a software company developing a unique cryptocurrency. GreenBank Capital:http://www.greenbankcapitalinc.com/ Canadian Securities Exchange:http://www.cnsx.ca/CNSX/Securities/Diversified-Industries/GreenBank-Capital-Inc.aspx (GBC) Download:https://greencoinx.com/greencoin/download GitHub:https://github.com/GreenCoin-Project/GreenCoin-Core You can currently trade XGC on IBWT (https://ibwt.co.uk/), or you can currently CPU mine. XGC uses the same algorithm as Bitcoin, it is our intention that early bitcoin miners will turn redundant bitcoin mining gear towards XGC. If you run an exchange or a trading platform you can integrate XGC as most other Cryptocurrencies though you will need to identify the hot wallet you use. The XGC team - https://greencoinx.com/ - Contact:[email protected] For business purposes:[email protected] (the majority of coins mined to date are being given out freely to businesses, agencies and other participants, not counting what random miners have mined)
Bitcoin-Mining-Shop.com Ready to ship ASIC miner IN-Hand
Resellers of high-quality, ready assembled ASIC Bitcoin Mining Gear. Formerly a small investorgroup that had begun to invest in Bitcoin Mining at its very beginnings in 2008, we now feel obliged selling nothing but top-quality Bitcoin Mining Gear only with ASIC chips sourced from Taiwan. Every set has one main controller since the boards are all directly interconnected. You're order includes a power supply as well as a case. And for your all-round carefree package the disk with the easily installed software is self-evident. Most of our products come with a bulk-price discont. The higher your order quantity, the lower the price per unit! Generally we have all the gears that we are selling in stock for immediate ordering. If you should be unlucky enough to order a set that we haven't available anymore or your order takes longer than a week to get to you, we would ensure you a 15%-discount for your next purchase within the following 3 months. We offer fast shipping! And if you place your order till 6 p.m. UTC we guarantee that it'll be shipped within the next day. Visit us now at http://bitcoin-mining-shop.com
Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. USB Bitcoin mining was only profitable when Bitcoin was in its early years. If you just want bitcoins then invest in serious mining hardware or just buy bitcoins. Halong Mining. The world of crypto was in disbelief when Halong Mining, a new ASIC startup, announced their brand new Dragonmint T16. Halong claimed it to be the most powerful – and ... Bitcoin mining chip maker Ebang International Holdings Inc. is seeking to raise up to $100 million through an initial public offering (IPO) in the U.S. The Chinese company will sell Class A ... Genesis Mining Review: Genesis Mining is the largest Bitcoin and scrypt cloud mining provider. Genesis Mining offers three Bitcoin cloud mining plans that are reasonably priced. Zcash mining contracts are also available. Hashing 24 Review: Hashing24 has been involved with Bitcoin mining since 2012. They have facilities in Iceland and Georgia. 3. Notable Mining Hardware Companies Bitmain Technologies. The most well-known mining hardware manufacturer around, Bitmain was founded in 2013 in China and today has offices in several countries around the world. The company developed the Antminer, a series of ASIC miners dedicated to mining cryptocurrencies such as Bitcoin, Litecoin, and Dash.. Bitmain is also in charge of two of the largest ...
This video goes over my 7 day 1 week Bitcoin Mining experiment. I let my computer Mine for Bitcoin for a week straight, to see how much money I could generat... April 2020 Update - https://youtu.be/ymdQaRXXmBg January 2020 Update on my Crypto Mining Farm at my Apartment. I'll be going over my mining rigs, my cpu rig,... Learn how to mine your very own Cryptocurrency! In the video, we go over the tech you will need and how to put all the pieces together. There's many ways to ... Should you buy a pre-built btc cryptocurrency mining rig? The answer depends, lets review the Coinmine One and discuss the status of gpu mining in 2019 and t... Get an additional $10 in Bitcoins from Coinbase when purchasing through my referral link http://fredyen.com/get/Bitcoins Raspberry Pi: http://amzn.to/2l6yrW7...
