The home for the most innovative cryptocurrency, VeriCoin and Verium VeriCoin: Proof-of-Stake-Time Protocol. PoST Verified. Verium: Proof-of-Work-Time Protocol. PoWT Verified. CPU Mine-able (GPU and ASIC Resistant)
Any idea what is the hash rate of bitmain(or their mining farms) approximately? How much do you think it would cost to set up such a mining farm i.e the size of bitmain s farms? Also how much hash rate do I need(minimum) to be profitable (considering and average electricity price)? Just posting resources that may answer my question will do. Maybe some resources that has the total cost of setup and how much it would approximately cost and how much power it would require etc. (assuming we re using the best ASICs) . TIA
A PSA TO ALL BITCOIN MINERS: READ IF YOU WOULD LIKE TO KEEP SMALL SCALE BITCOIN MINING ALIVE AND PROFITABLE!
If you want to keep mining alive for the small time/at home miner (as it should be) beware of Antpool and ViaBTC (among others.) There is mass mining manipulation afoot. Since the recent shakeup- the bitcoin cash fork, the uncertainty of segwit adoption, the looming bitcoin core fork and the closed door New York Agreement- we have seen some of the sharpest difficulty increases in the history of the coin, mass shifts in hash rate between coins, and the most rapidly dwindling profitability ever recorded. Be certain, this is all shear manipulation, meant to maximize profits for the major pools and players, off of small time miners investment in hardware while at the same time making way for the next generation of BTC mining, which if the powers that be get their way, will not include any small time miners. -Who are these "powers that be?": It is difficult to say. A number of powers, likely a majority of those who signed the New York Agreement. Among those most egregiously manipulating the mining landscape are Bitmain (Antpool) and ViaBTC. All of those behind bitcoin cash likely play a part, as well as most certainly BitFury. Bitmain and ViaBTC are most important here, because those are two we can take action against NOW! -How is this manipulation occurring?: There are multiple techniques likely at play which I have identified. The most obvious is the manipulation of hash-power between the 2 currently active forks (Bitcoin and Bitcoin Cash.) ViaBTC's "auto-switching" feature- which is supposed to switch a miner between mining BTC and BCH, depending on which is more profitable, is being greatly abused. I have noticed trends which suggest Antpool is using miner's hash power to conduct similar manipulation, whithout their knowledge- although other than suspicious trends (such as the frequency of blocks mined by antpool prior to difficulty readjustments, and prior to short "lags" in the BTC network as well as the number of small blocks mined by Antpool) I lack solid evidence. However I can be certain that they are using their own hash power in the manipulation, BitFury is as well. I also suspect Nicehash's hash-power is being misappropriated (although I do not believe this is NiceHash's own doing, rather other major holders in BTC buying the majority of Nicehash's power at strategic times.) -How does the manipulation work?: It all has to do with the way BTC calculates mining difficulty. For full understanding, you may refer to the Bitcoin Wiki's section on difficulty readjustment. In short, bitcoin recalculates its difficulty by looking back a fixed number of blocks and comparing that with mining power in an attempt to keep the block time at the target rate. By strategically increasing hash-power at specific times, they are able to cause spikes in the mining difficulty, freezing of the chain, etc. There is also price manipulation made via buy-ups and dumps of coins at opportune times on exchanges of varying sizes, as well as "rogue" block creation and mempool "clogging" via mass transaction creations by sending floods of pay-to-self or low-fee, non-confirming transactions in one swoop. Transactions they send but will not mine themselves! -Why are they doing this?: I think each may have their own intentions at bey. Bitmain certainly has something to gain by pushing their altcoin mining hardware, but I believe the consensual reason behind these attacks on small time mining is to inevitably take the power of the bitcoin network from the user and small-time miner and to selfishly horde the remaining coins to be minted for themselves. With a full mining consensus they would have the power to fully manipulate the network, fork it as they saw fit, etc. There is also the ability to "play both chains" of bitcoin and bitcoin cash to maximize profitability for themselves based on their current holdings and parallel market and mining manipulation to amass vast profit. SO WHAT CAN YOU DO?: -STOP mining on ANTPOOL and ViaBTC (KANO.is is a great alternative, the creator has always been open and the fees are low, and it pays out the full block reward plus transaction fee bonus which adds up to much more over those that may charge a slightly lower fee but not pay out the transaction reward.) -DO NOT mine SHA256 on NiceHash for now (ZPool is a good alternative for those looking for a multipool, it always mines the most profitable coin, but does not sell hash power like NiceHash so it is not subject to corruption.) -AVOID mining Bitcoin Cash- It was a scamcoin from the get-go! It is like a plague infecting the bitcoin mining landscape, avoid it at all costs. -EDUCATE yourself. Fully understand the concepts of bitcoin mining. Keep current with recent headlines. Always do your research before choosing a pool. -SPREAD THE WORD. If you do not act now, it won't be long before even an S9 is not profitable at all. There is a reason Bitmain has not released an S10- it's not that they have not been manufacturing more efficient miners, they have just been hording them all for themselves. tl;dr Bitmain and ViaBTC are evil, bitcoin cash is a plague, and NiceHash is not helping- AVOID THEM ALL!
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lecture 9: Scaling Bitcoin: Cryptocurrencies for the Masses
This tutorial will show you how to remove the Epic Scale cryptocurrency mining software, which may have been installed along with uTorrent. Top Bitcoin Core Dev Greg Maxwell DevCore: Must watch talk on mining, block size, and more - Duration: 55 ... Scaling Bitcoin Day 1 - Afternoon Session Wrap-up - Duration: 1:35:44. Scaling Bitcoin ... Bitcoin is skyrocketing right now ! We had a look behind the scenes of bitcoin mining and a bitcoin miner Farm. join the event here: https://www.miningconf.o... This video is unavailable. Watch Queue Queue. Watch Queue Queue In 2014, before Ethereum and altcoin mania, before ICOs and concerns about Tether and Facebook's Libra, Motherboard gained access to a massive and secretive ...