How to build a Bitcoin Mining Rig Cluster

Would it be economically viable to provide free 4g coverage to cities in exchange for people's spare computing power? How much would the idle computer power of an average America city be worth if it was used to mine bitcoin or converted into a distributed super computer cluster?

submitted by Jacken_the_ to AskReddit [link] [comments]

I want to optimize your program on a ppc64el-supercomputer with lots of Tesla V100-SXM2 GPUs for free

I've been working on a program to automatically adjust hyperparameters in a given range. That is things like number of neurons, number of layers etc. For this, I want to do this on real programs with real data that is actually useful. I've tried things like DeepSpeech, but I have immense problems getting it to work on a ppc64el-environment with some compiled dependencies. This will then be made into a paper.
So, I'd like to offer the following. If you have an application you'd like to be trained on a high performance computing cluster with hundreds of Tesla V100-SXM2 GPUS, for free!, than you can write me your suggestions here.
The following requirements must be met though:
- It has to be able to run on ppc64el Linux natively (i.e. you compiled it for it or it's only python and bash)
- It has to be free software (and legal, of course)
- No bitcoin mining or things like that
- Has to be a real world application with lots of data that is either freely accessible or you can give me a download link for
- The program needs to accept the parameters via a cli (i.e. "program.py --layers=10")
- There has to be a loss function that can be minimized (e.g. the number of errors made, or quadratic loss or whatever, only thing that matters is one number and lower meaning better)
- The result needs to be publically available, too.
I have as much parallel computing time as we need and can automatically try as many combination as we want until we have a good result. RAM is not an issue, I have about 440GB RAM on a node, and more than 30 nodes with 6 Teslas each.
I'd really be interested in good suggestions, from which I will chose one or maybe two. You'll also get fancy graphs of the GPU workload over time, and of the hyperparameter sets tried out. Anyone interested?
submitted by AskethMe to artificial [link] [comments]

vectorbt - blazingly fast backtesting and interactive data analysis for quants

I want to share with you a tool that I was continuously developing during the last couple of months.
https://github.com/polakowo/vectorbt

As a data scientist, when I first started flirting with quant trading, I quickly realized that there is a shortage of Python packages that can actually enable me to iterate over a long list of possible strategies and hyper-parameters quickly. Most open-source backtesting libraries are very evolved in terms of functionality, but simply lack speed. Questions like "Which strategy is better: X or Y?" require fast computation and transformation of data. This not only prolongs your lifecycle of designing strategies, but is dangerous after all: limited number of tests is similar to a tunnel vision - it prevents you from seeing the bigger picture and makes you dive into the market blindly.
After trying tweaking pandas, multiprocessing, and even evaluating my strategies on a cluster with Spark, I finally found myself using Numba - a Python library that can compile slow Python code to be run at native machine code speed. And since there were no packages in the Python ecosystem that could even closely match the speed of my own backtests, I made vectorbt.
vectorbt combines pandas, NumPy and Numba sauce to obtain orders-of-magnitude speedup over other libraries. It builds upon the idea that each instance of a trading strategy can be represented in a vectorized form, so multiple strategy instances can be packed into a single multi-dimensional array. In this form, they can processed in a highly efficient manner and compared easily. It also integrates Plotly and ipywidgets to display complex charts and dashboards akin to Tableau right in the Jupyter notebook. You can find basic examples and explanations in the documentation.

Below is an example of doing in total 67,032 tests on three different timeframes of Bitcoin price history to explore how performance of a MACD strategy depends upon various combinations of fast, slow and signal windows:
import vectorbt as vbt import numpy as np import yfinance as yf from itertools import combinations, product # Fetch daily price of Bitcoin price = yf.Ticker("BTC-USD").history(period="max")['Close'] price = price.vbt.split_into_ranges(n=3) # Define hyper-parameter space # 49 fast x 49 slow x 19 signal fast_windows, slow_windows, signal_windows = vbt.indicators.create_param_combs( (product, (combinations, np.arange(2, 51, 1), 2), np.arange(2, 21, 1))) # Run MACD indicator macd_ind = vbt.MACD.from_params( price, fast_window=fast_windows, slow_window=slow_windows, signal_window=signal_windows, hide_params=['macd_ewm', 'signal_ewm'] ) # Long when MACD is above zero AND signal entries = macd_ind.macd_above(0) & macd_ind.macd_above(macd_ind.signal) # Short when MACD is below zero OR signal exits = macd_ind.macd_below(0) | macd_ind.macd_below(macd_ind.signal) # Build portfolio portfolio = vbt.Portfolio.from_signals( price.vbt.tile(len(fast_windows)), entries, exits, fees=0.001, freq='1D') # Draw all window combinations as a 3D volume fig = portfolio.total_return.vbt.volume( x_level='macd_fast_window', y_level='macd_slow_window', z_level='macd_signal_window', slider_level='range_start', template='plotly_dark', trace_kwargs=dict( colorscale='Viridis', colorbar=dict( title='Total return', tickformat='%' ) ) ) fig.show() 

https://reddit.com/link/hxl6bn/video/180sxqa8mzc51/player
From signal generation to data visualization, the example above needs roughly a minute to run.

vectorbt let's you
The current implementation has limitations though:

If it sounds cool enough, try it out! I would love if you'd give me some feedback and contribute to it at some point, as the codebase has grown very fast. Cheers.
submitted by plkwo to algotrading [link] [comments]

New CryptoClickers is finally released on multiple platforms!

Hello guys! I am happy to say that today was an amazing release day with tons of supporting people! (Also thank you u/zenongreat for making a post about it :D)
It's been quite the stressful, but also educational and exciting journey from CryptoClickers: Legacy Edition (old version) release to remaking the game, then balancing the game, fixing tons of bugs, spending days on optimization (your CPU will be happy), and then the final release!
This game has been in development for a total of 3 years (1.5ish from each legacy and the new version). I have learned a ton and gained so much support from my amazing community and the amazing incremental_games community that all of us have formed.
Anyways let's talk about the game:
- Has a double prestige layer system (eventually three).
- Has tons of challenges/speedrun challenges.
- Two major upgrade trees.
- Lots of game modes that all bind together.
- Numbers up to the e10000s.
- Has hourly events that change everyday and runs on a weekly schedule.
- It's cross-platform, you can export and import your save on any device you may desire.
- Has a friendly Discord community
- Planning to add lots of content and improve the game along it's journey!

Here's whats going to happen in the future:
- Third Prestige (Will be a fully customizable UI such as colors, icons, prefixes, and names).
- Continuous UI updates, now I think we can all agree the UI is definitely not new user friendly. It's very clustered and messy for some people. I want to improve this in the best ways possible till it's near perfect.
- Events Updates, the current events are a bit stale, all except the Friday event will be replaced with some cool events I have planned!
- Bug fixes and balancing, please, if you find any small bug or grammar error, I would love to fix it. I want this game to be at its best state at all times!
- Possible seasonable events?
I wanted to thank everyone who has been here with me since the start of development, everyone who has contributed in any form of support, I appreciate you and everything you have done for me, the game, and the community. I appreciate all the beta testers for helping me get through the annoying bugs and balances that were made. I love all my staff, I love my community, and especially I love the Incremental Games community. I also wanted to mention that Antimatter Dimensions and Idling to rule the gods were my biggest inspirations for the game, so thanks to the devs for making their amazing games. Thank you guys and I hope you enjoy my game. I will be actively working on this!
Here are the download links:
Steam: https://store.steampowered.com/app/1313580/CryptoClickers_Crypto_Idle_Game/
iOS: https://apps.apple.com/us/app/cryptoclickers-idle-game/id1524226223
Android: https://play.google.com/store/apps/details?id=com.CryptoGrounds.CryptoClickers2
Kartridge: https://www.kartridge.com/games/zachbc1/cryptoclickers/
Itch.io: https://cryptogrounds.itch.io/cryptoclickers
(You can also find some other cool information such as prototypes, I will be adding more here: https://cryptogroundsgames.com/ )
Also. You'll need this later: 111144333322
Spoiler: If you are interested in a small story, otherwise you can ignore!
3 years ago, this game was only a little project of mine for an AP computer science Principles project portion of the AP test. I haven’t stopped working on it since then because I knew what I have been working on and what I have been learning over the years is worth it. Over a year or 2 ago I released what is now CryptoClickers Legacy. It was a mess, it was buggy, it drained everyone’s batteries like a Bitcoin Miner, heating up peoples phones, had a crappy launch on Android and was hard to maintain the crappy code it had. I then started the new CryptoClickers which I release today. A much more optimized, balanced, and overall developed game.
Edit: I am currently working on improving the UI and adding an interactive tutorial where you complete tasks up to the first challenge
submitted by NightStormYT to incremental_games [link] [comments]

August / September monthly report from v1docq47 (CCS + XRM.RU)

This is my monthly progress report (CCS.html) + XMR.RU).
Below is a list of what has been done and translated into Russian for two months of my work.

Monero Video (YouTube)

The following video posted on Monero Russian Community YouTube Channel.

Weekly News:

Short Q&A about Monero:

Monero into Russian (Translation)

The following articles / guides have been translated into Russian and posted on the XMR.RU website and my Github repository.
Note: If you would like to read the original article in English, then, open the article you are interested in, and at the end of each article you will find a link to the source.

Critical Decentralisation Cluster 36c3 (transcriptions (EN + RU) + translation (RU)):

01 - Monero Introduction (Diego "rehrar" Salazar) | Transcriptions - EN.md) / RU.md) / XMR.RU 02 - RIAT Introduction (parasew) | Transcriptions - EN.md) / RU.md) / XMR.RU 03 - Swiss Cryptoeconomics Assembly (polto, Ome) | Transcriptions - EN.md) / RU.md) / XMR.RU 04 - Namecoin Introduction (Jeremy Rand) | Transcriptions - EN.md) / RU.md) / XMR.RU 05 - Open Hardware developed at FOSSASIA (Mario Behling) | Transcriptions - EN.md) / RU.md) / XMR.RU 06 - Paralelni Polis (Juraj Bednar) | Transcriptions - EN.md) / RU.md) / XMR.RU 07 - Introduction to Replicant (dllud, Denis ‘GNUtoo’ Carikli)​ | Transcriptions - EN.md) / RU.md) / XMR.RU 08 - Open Source Hardware and OSHWA (Drew Fustini) | Transcriptions - EN.md) / RU.md) / XMR.RU 09 - ImplicitCAD (Juila Longtin) | Transcriptions - EN.md) / RU.md) / XMR.RU 10 - Program in Detail | Transcriptions - EN / RU / XMR.RU 11 - about:freedom (Bonnie Mehring, Blipp)​ | Transcriptions - EN.md) / RU.md) / XMR.RU 13 - Funding Models of FOSS (Diego “rehrar” Salazar) | Transcriptions - EN.md) / RU.md) / XMR.RU 14 - The Sharp Forks We Follow​ | Transcriptions - EN / RU / XMR.RU 16 - P2P Trading in Cryptoanarchy | Transcriptions - EN / RU / XMR.RU 17 - Monero’s Adaptive Blockweight Approach to Scaling | Transcriptions - EN / RU / XMR.RU 18 - Nym (Harry Halpin)​ | Transcriptions - EN.md) / RU.md) / XMR.RU 19 - Digital Integrity of the Human Person | Transcriptions - EN / RU / XMR.RU 20 - cyber~Congress (Sergey Simanovsky) | Transcriptions - EN.md) / RU.md) / XMR.RU 21 - KYC & Crypto-AML Tools (polto) | Transcriptions - EN.md) / RU.md) / XMR.RU 22 - Parallel Polis, Temporary Autonomous Zones and Beyond | Transcriptions - EN / RU 23 - MandelBot:HAB - Open Source Ecotecture and Horizontalism | Transcriptions - EN / RU 24 - Adventures and Experiments Adding Namecoin to Tor Browser | Transcriptions - EN / RU 25 - Fair Data Society (Gregor Zavcer) | Transcriptions - EN.md) / RU.md) / XMR.RU 45 - Designing a Communal Computing Interface | Transcriptions - EN / RU / XMR.RU 47 - Hackatoshi’s Flying Circuit | Transcriptions - EN / RU / XMR.RU

Zero to Monero - Second Edition

https://www.overleaf.com/read/hcmqnvgtfmyh - Chapter 00 - Abstract - Chapter 01 - Introduction - Chapter 02 - Basic Concepts - Chapter 03 - Advanced Schnorr-like Signatures

Monero Outreach Articles

Getmonero.org Posts Blog

LocalMonero Articles

Note: You need "Change Language" to Russian - Why Monero Has A Tail Emission - How CLSAG Will Improve Monero's Efficiency - How Monero Solved the Block Size Problem That Plagues Bitcoin - How Ring Signatures Obscure Monero's Outputs - Monero Best Practices for Beginners - Monero Outputs Explained

Monero Meeting logs

CCS Result / Report

Monero News

Other Articles

Pull / Merge Request

Monero Project Translations (Weblate)

Thanks for your support!
submitted by v1docq47 to Monero [link] [comments]

Cluster CPUs for crypto mining?

I have several old desktops at my disposal and would like to put them to good use by using them to mine some cryptocurrency (still debating bitcoin vs one of the major alt coins such as ethereum).
I'm know an asic is the gold standard for mining, but I am wondering if anyone else out there has tried clustering computers for combined processing power for mining? Is it even possible?
Additionally, is it possible to combine cluster multiple asics together? Or even an asic to a CPU?
I'm looking to make this venture at least somewhat worthwhile. At the time of this posting the price of BTC was 9,623.15 Worthwhile to me means 1 BTC per month (ish?) If that's too high, feel free to call me out, tell me what is more reasonable.
submitted by reachout_touchspace to CryptoCurrency [link] [comments]

CryptoClickers Released!

Hello guys! I am happy to say that today was an amazing release day with tons of supporting people! (Also thank you u/zenongreat for making a post about it :D)
It's been quite the stressful, but also educational and exciting journey from CryptoClickers: Legacy Edition (old version) release to remaking the game, then balancing the game, fixing tons of bugs, spending days on optimization (your CPU will be happy), and then the final release!
This game has been in development for a total of 3 years (1.5ish from each legacy and the new version). I have learned a ton and gained so much support from my amazing community and the amazing incremental_games community that all of us have formed.
Anyways let's talk about the game:
- Has a double prestige layer system (eventually three).
- Has tons of challenges/speedrun challenges.
- Two major upgrade trees.
- Lots of game modes that all bind together.
- Numbers up to the e10000s.
- Has hourly events that change everyday and runs on a weekly schedule.
- It's cross-platform, you can export and import your save on any device you may desire.
- Has a friendly Discord community
- Planning to add lots of content and improve the game along it's journey!

Here's whats going to happen in the future:
- Third Prestige (Will be a fully customizable UI such as colors, icons, prefixes, and names).
- Continuous UI updates, now I think we can all agree the UI is definitely not new user friendly. It's very clustered and messy for some people. I want to improve this in the best ways possible till it's near perfect.
- Events Updates, the current events are a bit stale, all except the Friday event will be replaced with some cool events I have planned!
- Bug fixes and balancing, please, if you find any small bug or grammar error, I would love to fix it. I want this game to be at its best state at all times!
- Possible seasonable events?
I wanted to thank everyone who has been here with me since the start of development, everyone who has contributed in any form of support, I appreciate you and everything you have done for me, the game, and the community. I appreciate all the beta testers for helping me get through the annoying bugs and balances that were made. I love all my staff, I love my community, and especially I love the Incremental Games community. I also wanted to mention that Antimatter Dimensions and Idling to rule the gods were my biggest inspirations for the game, so thanks to the devs for making their amazing games. Thank you guys and I hope you enjoy my game. I will be actively working on this!
Here are the download links:
Steam: https://store.steampowered.com/app/1313580/CryptoClickers_Crypto_Idle_Game/
iOS: https://apps.apple.com/us/app/cryptoclickers-idle-game/id1524226223
Android: https://play.google.com/store/apps/details?id=com.CryptoGrounds.CryptoClickers2
Kartridge: https://www.kartridge.com/games/zachbc1/cryptoclickers/
Itch.io: https://cryptogrounds.itch.io/cryptoclickers
(You can also find some other cool information such as prototypes, I will be adding more here: https://cryptogroundsgames.com/ )
Also. You'll need this later: 111144333322
Spoiler: If you are interested in a small story, otherwise you can ignore!
3 years ago, this game was only a little project of mine for an AP computer science Principles project portion of the AP test. I haven’t stopped working on it since then because I knew what I have been working on and what I have been learning over the years is worth it. Over a year or 2 ago I released what is now CryptoClickers Legacy. It was a mess, it was buggy, it drained everyone’s batteries like a Bitcoin Miner, heating up peoples phones, had a crappy launch on Android and was hard to maintain the crappy code it had. I then started the new CryptoClickers which I release today. A much more optimized, balanced, and overall developed game.
Edit: I am currently working on improving the UI and adding an interactive tutorial where you complete tasks up to the first challenge
submitted by NightStormYT to CryptoGrounds [link] [comments]

Multi apartment clustered cryptocurrency mining rig

So you’ve probably just heard all your classes are online. And now you’re trying to sublet your apartment but no one’s gonna take it. So now you’re gonna be paying at least $1000/month for an empty apartment. I have a proposal that can reduce that cost and possibly turn a profit.
Firstly, we have a very high risk credit market on our hands. The Federal Reserve has been pumping money into the economy and at some point the US dollar will have to inflate while growth stagnates (aka stagflation). During stagflationary periods in the past the price of non-fiat currencies like gold or silver has skyrocketed. Recently cryptocurrencies have emerged with the same general economic properties of such commodities. Therefore we may see an increase in their values as the Fed keeps pumping more money into the economy.
As of now in order to generate enough money per month to pay off rent in South Campus Commons, each apartment would need a Bitcoin rig capable of generating ~2200 TH/s (since you don’t pay for electricity). For the Varsity and View this might have to be higher considering the cost of electricity. This is definitely possible with new ASIC chips that are solely built for the purpose of running Bitcoin hashing algorithms. For other cryptocurrencies (Ethereum, Litecoin, Dogecoin), these rates may be different. But like any good portfolio manager, diversifying our investments will ensure we have a profitable outcome.
If enough students come together to construct a Bitcoin mining rig in their apartments we could essentially create a multi apartment clustered miner to be able to generate Bitcoin. On top of that, because campus server resources will be diminished due to online classes, we can in turn utilize that computing power to help mine such cryptocurrencies. As a result we won’t have to find people to sublet our apartments to and won’t have to worry about the financial undertakings associated with it.
TL;DR: Corona collectively fucked everyone in the ass and we should build a massive Bitcoin rig to pay off our rent.
submitted by terpetrator251 to UMD [link] [comments]

08-10 07:44 - 'Who is forking Filecoin?' (self.Bitcoin) by /u/paulcheung1990 removed from /r/Bitcoin within 6-16min

'''
Forking Filecoin is a $500 million to $1 billion business?
On July 17, cryptocurrency analyst Bitfool mentioned via Weibo: “Recently, people who forked Filecoin in the market have been undercurrents; as far as I know, there are 4-5 teams. From a strategic point of view, the project Teams, investors, and miners get two of the three to successfully fork; one of the three can steal 5-10% of the market value. Therefore, Filecoin's fork is a $500 million to $1 billion Business."
"It's even more awesome, full of courage, and ready to build a team to fork Fliecoin. Well done, famous in the world, poor done, and scorned by thousands of people."
Sun Ming, a partner of Fenbushi Capital, mentioned in an interview: "Miners who have invested a lot of hardware resources are promoting the fork of Filecoin.
Hu Feng, operating partner of the FILPool mining pool, said: "Currently, big miners have ideas, but it will only be possible after the mainnet is online.
Filecoin economic model is not friendly to miners
At the beginning of the establishment of the Filecoin economic model, a pledge and reward and punishment mechanism was proposed, which has undergone many adjustments. The last three adjustments have made the mechanism increasingly stringent.
In April of this year, the Filecoin project team introduced their thinking on the economic model and refined the reward and punishment mechanism. Miners who complete file storage can get corresponding block rewards, and fail to store files within the promised period will be punished. This fine is imposed on the Filecoin collateral pool (locked funds) provided by each storage miner. Locked funds include a small amount of early FIL tokens and token rewards obtained from miners.
Miners need to mortgage a certain amount of tokens in the early stage. If the amount of mortgage is too large, it will cause a shortage of FIL tokens in the early stage. The improvement made by the economic model is to transfer some of the early-stage costs to future block rewards.
The severe punishment mechanism made some miners dissatisfied, and some miners commented that the mechanism was too "crude".
In May, Filecoin made major adjustments to its economic model. This adjustment raises the threshold for miners to leave. Filecoin continues to strengthen the miner's mortgage mechanism, and part of the rewards mined by the miners will be locked. The penalty mechanism has also been changed accordingly. Only when the task of file hosting is completed can the mining reward be unlocked. If miners want to profit, they need to have strong computing power and be able to provide stable storage services for a long time.
If this is acceptable to miners, the recent "pre-mortgage" mechanism has left miners at a loss.
"Pre-mortgage" is proposed in the latest Calibration version of Filecoin, which means that every sector encapsulated requires a certain amount of FIL to be pledged in advance, and the pledged token needs to be locked for 180 days and then released in 180 days.
The consequence of "pre-mortgage" is that FIL token has worse liquidity in the early stage.
A large number of FIL mortgages are required in the early stage, which will force miners to find the official to buy coins, and the long lock-up period causes most miners to choose to sell coins instead of encapsulation. "The miners have put their money in the hardware, where can they go out and buy coins?"
Since there is not enough funds to buy coins as collateral, it loses the qualification for mining. Even if the mortgage funds are saved, it is almost impossible to pay back with the small amount of currency in the early period.
Sun Ming said: "The mining output is too small, making it difficult for early miners to maintain operations."
The adjustment of the economic model continues to compress the income of early miners, and the voice of miners proposing to fork Filecoin is also getting louder.
Sun Ming believes: "On the one hand, it is the protest of the miners against ProtocolLabs (requesting it to modify the economic model), and on the other hand, it is also the desperate fight of the miners forced to do nothing."
Li Bai posted a circle of friends to express his attitude. As shown below:

[link]1
Another very important point is that, according to the current reward mechanism, Filecoin competition in China is tantamount to "college entrance examination".
Take the Filecoin big miner test competition as an example, miners can only be rewarded if they are ranked in the top 50 in their area or in the top 100 among all miners. Looking at the situation of Chinese miners, 9 of the top 10 nodes in the world are from China. According to people familiar with the matter, about 80% of Filecoin miners are concentrated in China. The fierce competition can be imagined.
Wang Qingshui expressed his concern: more than 90% of miners may not make money. Many miners saw that they couldn't make money, and they had the idea of opening up Filecoin "other tracks". Therefore, the call for a Filecoin fork is the strongest in China.
Unaffordable mining costs and thresholds
In addition to Filecoin's economic model, another point that miners complain about is Filecoin's threshold and cost.
The cost of Filecoin mining input and the technical threshold of operation are beyond the reach of many miners and mines.
Filecoin has a severe punishment mechanism, which can ensure the safety of the data party, but at the same time it will bring a high threshold for mining professionalism and operation and maintenance stability.
In order to ensure uninterrupted power and no disconnection, it must be hosted in a high-level IDC computer room. In order to ensure mining efficiency, the network, computing power, and storage hardware must not be poor. Therefore, miners need to use a large sum of money to purchase high-end hardware equipment.
Instant window-POST verification and submission requires high algorithms and error repair capabilities, and requires professional algorithms and operation and maintenance teams.
In addition, the threshold for Filecoin mining may be above 10TB or even higher.
Entry mining has a threshold for storage and technical maintenance, and a lot of money is needed to purchase hardware equipment.
Earlier, a blogger did a cost calculation. With 30 mining machines as a cluster calculation, the expenditure for purchasing mining machines alone was as high as 6 million. Coupled with the cost of computer room construction, operation and maintenance, Filecoin mining costs may be more than 10 million yuan.
Wang Qingshui also mentioned the flaws: “Many ordinary miners and even servers cannot participate, which is contrary to the original intention of the project.”
Some people in the community expressed their concerns: "I have invested so much. What if something goes wrong after Filecoin goes online? Wouldn't it be a loss?"
So some miners are thinking, can they lower the threshold of mining while ensuring safety?
Some miners pointed out that not all mining machines need to be hosted in the IDC computer room, which is costly and prone to waste of resources. If it can be hosted in different computer rooms according to the performance of each type of mining machine, it can not only ensure safety, but also reduce costs.
Judging from the interview, many industry insiders are on the sidelines of the Filecoin fork.
Li Bai said: "There are many people who have ideas, but few people can put them into action."
Wang Qingshui believes that any popular big project will be forked. Are BTC and ETH forked less? But how many forks can surpass the original version?
Some miners think that the fork is just talking: "Someone will follow the official game.", "Who wrote the code for you after the fork? Do you dare to use the code you wrote?"
The Filecoin fork is "undercurrent". As the Filecoin mainnet approaches, miners' actions will become more frequent, and we will continue to report.
What do you think of the Filecoin fork? Please let us know in the comments section.
'''
Who is forking Filecoin?
Go1dfish undelete link
unreddit undelete link
Author: paulcheung1990
1: ****ie*.redd***/4l6*p**nn4g51.jpg*width=676&*forma**pjpg&am**auto=*e*p&***c*16a*61e2*0d1a*4*3f9f*9c8*fdfcebfdb*d3
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

How to trade Bitcoin Future

How to trade Bitcoin Future


https://preview.redd.it/zel9pxcl8df51.jpg?width=1200&format=pjpg&auto=webp&s=21c74d0ccc5556ea744088a283c44819fba59aef



Bitcoin is troublesome to use.
But bitcoin’s isue may build it additional valuable.
So, what’ reality regarding bitcoin’s future?
Bitcoin mining may be a senseless waste of energy.
As bitcoin hits mainstream media, the subject of bitcoin mining
bubble regarding to pop.For ten years, the media has enjoyed painting bitcoin as a bubble concerning to pop. They’ve gleefully pronounced the bubble popped and bitcoin dead … over 350 times. However the reality regarding bitcoin is that it keeps coming back back. Why?

Charlie Munger called bitcoin “worthless artificial gold.” Others in the media have likened bitcoin to a bubble, a “tulip mania,” and different strong statements
Each time bitcoin improves itself (like with Segwit
Segregated Witnesses. A protocol implemented by Bitcoin to extend transaction speed. SegWit allows a lot of transactions to be written into a single block on a blockchain.

or the Lightning Network), or will increase in value, the media is keen and ready to jump on it, decrying and denouncing it.
Therefore what’s the reality behind bitcoin’s price -- is it extremely a bubble?
The reality regarding bitcoin is straightforward; it's experiencing the same rise and fall cycles as each new technology and asset catego
The web also experienced a bubble. Shares of dotcom firms rose by a thousandpercent on a daily basis. Then it all tumbled down. However we have a tendency to’re still using the web, aren’t we have a tendency to? More than ever, in fact.

Stocks conjointly experienced big boom and bust cycles, especially in their early days.

We might feel like stocks have been around forever -- and to us they need. However stocks conjointly had a starting, and a rough one too. Once upon a time in 1531, when the first stocks were invented, they saw extraordinary volatility, scams, and no regulation. In fact, before stock exchanges, they were sold at occasional shops -- just like cryptocurrencies were sold on la peer to peer

marketplace, before exchanges came online.
Even property, viewed by the majority as “the safest investment” experienced a dramatic cycle. Business Insider reported that “Between 2006 and 2014, nearly ten million homeowners in America saw the foreclosure sale of their own homes.” And tens of thousands became homeless as a result of of it. Nevertheless --- we have a tendency to’re still living in homes, aren’t we?

The future of bitcoin would possibly be the identical as that of stocks, bonds, assets, and the web. It rises and falls like all the others, and it is currently terribly volatile -- but that’s as a result of it’s young.

Stocks have been around for 400 years. Dotcom corporations for forty years. Bitcoin is solely 10 years previous -- and cryptocurrencies, normally, are even younger. But slowly, they will become a part of our daily lives.

Rich investors are manipulating costs!
Look at this headline from the Independent: “Bitcoin price Crash: 'Manipulative Whales

Whale
A very wealthy individual capable of creating massive trades.
View full glossary
' cause Cryptocurrency Market Meltdown!”
It’s sensationalism, pure and straightforward. The article goes on to rant against these therefore-known as “whales” -- individuals who own voluminous dollars of BTC -- as evil-doers who’s solely thought is profit.

This type of sensationalism is meant to harm Bitcoin’s future; to scare people faraway from doing research and thinking for themselves.

Nonetheless, this statement is somewhat true. Up to eighty five% of Bitcoin’s supply is solely owned by onepercent of wallet addresses.




But there’s an important point to be made about these numbers. Most of the prime percentage of wallets is not owned by whales -- but by exchanges

Exchange
On-line platforms on which people can buy and sell cryptocurrencies.
View full glossary
.
However their result is getting smaller and smaller.
A company referred to as Chainalysis -- that makes a speciality of analyzing the Bitcoin blockchain

-- found that “the actual threat that all whales pose to the cryptocurrency economy is relatively low. If they sold off their entire holdings, it'd be effectively a $3.9 billion sale at current costs. That’s not even tenpercent of this total market capitalization of Bitcoin.”
This is as a result of, as I hinted above, several of those wallets holding such vast sums are the ‘cold wallets

’ (wallets held offline) belonging to major exchanges like Coinbase, Kraken, Binance, and more. These wallets cannot be used to manipulate the price, diminishing the potential impact of enormous ‘whales’ selling their positions.
Bitcoin is simply too slow for use as a currency.
The reality regarding Bitcoin is that yes, it's slower than VISA, Mastercard, and alternative centralized electronic payment systems.

Paying together with your credit cards takes seconds and the network can handle payments around the globe twenty fouseven. But, though Bitcoin can additionally be used around the world, confirmation

of payment takes an average of 10 minutes; during the bitcoin craze recently 2017, confirmation times might take hours.
Moreover, VISA on average processes around 2,00zero transactions per second (tps). This means the amount of payments individuals make per second on the network. VISA includes a maximum of twenty four,00zero TPS. Bitcoin, by distinction, has a maximum of ten TPS. This argument has been place forward by several critics over the years and picked up by the media as the doom of bitcoin’s future.

However Bitcoin could be a technology that evolves.
Now let’s assume regarding Bitcoin’s past for a moment. The coin and its underlying technology -- the blockchain -- are only ten years previous. When the web was ten years old -- the year was 1989. Do you keep in mind the net in 1989? I sure do.



payments in exchange for not revealing sensitive info. So, in bound ways that, BTC and cryptocurrencies offer hackers a lot of options.
However money continues to be king for every criminality.
Though it’s true that hackers and phishers do typically ask for payment in BTC

There’s an aphorism: “money talks.” It means that that if you would like to get something done -- the best argument you can build is to place down a stack of money. When Bitcoin rose to fame, the primary headlines focused around Bitcoin being the prime choice for criminality.

But Lilita Infante, Special Agent for the DEA (Drug Enforcement Administration) has some contradictory info regarding this. She was one among a ten-person Cyber Investigative Task Force team whose primary aim was the dark web and crypto-related investigations. This cluster is no little force. They collaborate with the Department of Justice, FBI, and also the Bureau of Alcohol, Tobacco, Firearms and Explosives. And she went on the record to talk regarding what share of bitcoin transactions are literally being employed for illegal things; she said that “illegal activity has shrunk to about 10 p.c.”

Only tenp.c of all the transactions on the Bitcoin network could be used for illegal things. Which number is falling.

The fall in Bitcoin’s use among criminals is due to several factors. The most prominent factor is that Bitcoin is no longer anonymous. Sciencemag wrote a full report on how governments are developing and using techniques to explore the Bitcoin blockchain and notice criminals by tracing their bitcoin payments.

Paying with bitcoin isn’t simple.
I’ve heard this argument flow into widely throughout the years. I still hear it from my grandpa each vacation dinner. He didn’t see a Bitcoin checkout option at the grocery when he bought the turkey -- therefore it’ll never be used.



Perhaps Bitcoin is on its means to being such a store of worth. For 10 years now bitcoin has been ready to be saved and retrieved and exchanged -- and it’s worth has only gone up (bumpy but up).

Need to get more cryptocurrencies? Check out our top 5 cryptocurrencies to shop for, whether you’re a beginner or an experienced investor!

Bitcoin is difficult to use.
Bitcoin, like all new technologies, isn't the most user-friendly.

You would like to line up a wallet, bear in mind a seed phrase, and several additional steps. Sending and receiving BTC

payments additionally involves steps of copy/pasting long strings of random letters and numbers. It’s powerful, I hear ya.


I additionally keep in mind all the steps I needed to require to send emails back when those were new. Insert a CD from AOL into my computer. Install AOL. Unplug my phone line. Plug in my Modem. Wait for it to make all those noises and finally connect. Then set up my AOL email and password. It was quite the method.

My grandfather never thought emails would come out and even my mother said folks would perpetually like handwriting letters (and using a physical dictionary for spell check!) and sending through the post.


Think about it the approach we tend to assume about gold. Not everyone has gold. It’s also a bit difficult to own.

If you wish to own gold for its ‘store of price’ properties, you wish to seek out a specialized look to buy investment gold. You need to store it somewhere, sort of a personal safe or a bank vault, and bear in mind the password. This is somewhat troublesome.

https://preview.redd.it/k0x3jqsm8df51.jpg?width=770&format=pjpg&auto=webp&s=ff7c2f29881c28fb22c9828c497cc1981eea2919
Perhaps Bitcoin’s problem will facilitate it retain its value, just like gold
You Might Conjointly Like: The 5 est Bitcoin Sports Betting Sites
https://www.cryptoerapro.com/bitcoin-future/
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[Paracosm Discord] Hans's Inspiring Conv: Tangle Inside

2/6
Disclaimer:
This is my editing, so there could be some misunderstandings.
Anyone who wants to read everything should go to the 'spec' of Paracosm discord.
IMHO, Hans's philosophy and motivation is worth sharing widely.



Hans Moog [IF]어제 오전 7:57
People are more motivated then ever

Hans Moog [IF]어제 오전 8:02
the point is that the IF is not going to be there forever - its not meant to
having a self sustainable ecosystem is very important for the maturity of the protocol

Hans Moog [IF]어제 오전 8:03
No it's not
if IF would cease to exist tomorrow - it would be finished by the people working for the IF anyway
I am 100% sure
and if i would have to do it alone ...

Hans Moog [IF]어제 오전 8:05
we can all do it together - and we are actually doing it already
hornet and goshimmer have VERY close ties
they are really good friends and very capable coders
its an honor to work with them

Hans Moog [IF]어제 오전 8:06
[when do you reckon the shift to binary will take place?]
its being merged in goshimmer tomorrow :smile:

Hans Moog [IF]어제 오전 8:14
[about Multiverse]
the last statements of popov was that it "might work"
he still has some concerns
i guess he still tends to think the chances of it not working as bigger than the chances of it working
I am 100% sure it works - but maybe its on me to prove that with a fully functional prototype.

Hans Moog [IF]어제 오전 8:17
My goal is to show a prototype being able to process 10 million tps by the mid of this year - we will see if I can pull this off
maybe time will be rare, considering the parallel work on coordicide
maybe I should aim for end of 2020 instead

Hans Moog [IF]어제 오전 8:19
of course it includes sharding
that whole point of IOTA is sharding
and a completely new form of sharding

Hans Moog [IF]어제 오전 8:19
[why 10m TPS?]
its just a random number
some kind of goal post
so you can process the entirety of bitcoins history in 1minute and 30 seconds?
would be a nice thing

Hans Moog [IF]어제 오전 8:21
coordicide and multiverse would essentially use the same sharding principles
I hope that we can share more on that soon
Oh its quite concrete
we are starting to write math papers about it already

Hans Moog [IF]어제 오전 8:23
FPC is perfectly fine for sharding
you have to forget the discrete sharding world of blockchains where you just make n copies of the same thing
its very different


Hans Moog [IF]어제 오전 8:30
I would LOVE to share that with you but maybe just wait a but longer - we will be more open about this pretty soon
let's just say that we still have some aces in our sleeves

Hans Moog [IF]어제 오전 8:49
nope
I am completely new in crypto but I am pretty sure that some people might "know me from before"
if they would know what I did before

Hans Moog [IF]어제 오전 8:57
dude the IF has reached a stage where it would survive without anbybody
I could drop dead tomorrow and the IF would continue, same goes for David or anybody else

Hans Moog [IF]어제 오전 9:00
all the corporates and everything ... it might not be fully reflected in the price yet but IOTA has a really really bright future

Hans Moog [IF]어제 오전 9:01
I think we are starting to see a pretty bullish sentiment around IOTA lately
I only hope that its due to our increased transparency with a clear roadmap and everyhting, and not just some random fluke in the prices
It would just feel much more "rewarding" to be a consequence of our efforts :joy:

Hans Moog [IF]어제 오전 9:05
i am buying more IOTA every month : was very happy about the low prices
but I can understand that if you just "have to believe" and have no insight about the actual progress, then these prices can feel more concerning than a "bargain"

Hans Moog [IF]어제 오전 9:13
Do you really expect a guy working on IOTA to not be bullish about the tech and everything?
I am not in IOTA for the moneyzzz

Hans Moog [IF]어제 오전 9:18
if you are asking for investment advice, then I am most probably the worst person to ask
as my trades in crypto have always been horrible

Hans Moog [IF]어제 오전 9:20
I didn't have the chance to be around in the ICO days so I need to take what's left

Hans Moog [IF]어제 오전 9:27
I don't know man - everybody that I know is not willing to sell

Hans Moog [IF]어제 오전 9:35
Yassin is the proof that "reputation" is worth something
A man of honor - my deepest respect to you man
People who stick to their word and can be trusted are sadly a rare thing in today's world

Hans Moog [IF]어제 오전 9:39
I anyway think that we have way too much tribalism in crypto
people should really stop praising "people and projects" and instead start to praise ideas and concepts

Hans Moog [IF]어제 오전 9:43
I mean I get the whole concept of having a single currency and shit, but if the tech is bad? I mean this is the first time in the history of humans that we can "design" the very foundation of our social and economical layer
why would we not go for the best available tech?
bitcoin was "a breakthrough" when it was released
and it helped to kickstart a whole field of research
but its clearly not the best possible solution

Hans Moog [IF]어제 오전 9:47
ultimately the best tech will win
just look at bitcoins dominance
its fading long term
sure it was time for a correction from the 2017 run of alts

Hans Moog [IF]어제 오전 9:47
but the overall trend is pretty clear
bitcoins days are numbered

Hans Moog [IF]어제 오전 9:54
maybe I can leak one thing about IOTA's sharding solution without giving away too much: Every single node can individually decide how much data it wants to process - so you can have very very resource-constrained nodes like sensors and stuff in the same network as nodes with hundreds of cores and they will be able to work together seamlessly
there will essentially be no "minimum hardware requirements" for a node (of course you have "some" requirements to even be able to run some kind of logic)

Hans Moog [IF]어제 오전 9:56
We are on the forefront of research when it comes to VDF's but its not really related
VDFs would maybe be a way to replace PoW in the future as a rate control mechanism

Hans Moog [IF]어제 오전 9:58
you don't need big nodes
you can be as big as you want to be
but naturally some nodes will have more power than others

Hans Moog [IF]어제 오전 10:01
possible - the whole mana system is based on "reputation", if you run a reliable cluster of nodes that people are willing to use, then you can earn mana
and since mana decides how many transactions you can issue, you can of course "allow others to use your resources" for money
so operating a reliable node cluster could be sth that people might do "for a living" in the future
maybe it would be best to build up a reputation already today

Hans Moog [IF]어제 오전 10:03
if you have funds in the network, then you will generate more than enough mana to have enough "shares" in the network to use it
for free
but if anybody wants to just piggyback on the network without holding tokens, then he might have to pay a "fee"

Hans Moog [IF]어제 오전 10:05
if you want to send a lot of data transactions, then you better have some tokens
I mean its just fair, right?
you don't have any stake in the network but you wanna use it? then pay for it
but people who have funds in the network can use it for free

Hans Moog [IF]어제 오전 10:07
i think ultimately the community will provide a plugin for the nodes, where you can "automatically" rent your excess reputation for some income

Hans Moog [IF]어제 오전 10:08
[what would the income be ?]
tokens
IOTA

Hans Moog [IF]어제 오전 10:09
by the people who want to use the network more than what their token holding would allow them to
so they rent "mana" from the people who have it

Hans Moog [IF]어제 오전 10:10
the internet took off when flat-rate emerged
and prices became predictable
the same is true for crypto

Hans Moog [IF]어제 오전 10:11
thats why companies like IOTA so much ... it creates a platform that has "predictable" prices
any mining based crypto will never be able to offer the same
Beeing feeless is not just a "funny feature", its the key to mass adoption

Hans Moog [IF]어제 오전 10:14
If I run a node and have funds in the network, then why would I pay anybody anything? I am supporting the network already by using it

Hans Moog [IF]어제 오전 10:16
Yeah we are using "mana 2" now which is also the one that is implemented in the goshimmer mana package
the formulas are going to change a bit tho
we had like 16 different versions of mana with all very different implications on game theory and code

Hans Moog [IF]어제 오전 10:18
but serguei is the expert when it comes to game theory and we are pretty confident that we have chosen the correct survivor

Hans Moog [IF]어제 오전 10:19
[The mana implementation does seem like the slipperiest slope]
it uses a few economic theories from the early 20th century (from silvio gesell) by having smth like a "demurrage function"
so the rich dont get richer
its software - if any design decision turns out to be problematic, you patch it

Hans Moog [IF]어제 오전 10:20
[So it’s hard to maintain a high mana]
its not like you have to live with it for thousands of years like in our current FIAT system
if you make it right from the start, the rich will never become that powerful that they could even dare to fork

Hans Moog [IF]어제 오전 10:22
you are "RENTING" out your excess resources
that doesn't mean that you will broadcast everything unseen
If somebody tries to use your node to perform an attack you will just ignore it
of course you might "lose the fees" that they would be willing to pay you to perform this attack,
but ultimately you will have to decide what is more valuable to you
the few cents of IOTA you earn or your "reputation / mana"

Hans Moog [IF]어제 오전 10:25
the nodes will perform all of the sanity checks, so they don't "accidently" take part in an attack of course
the point is that its a voting system based on mana
if I use your node to "issue a transaction",
then I maybe pay you for issuing this tx
but your "opinion on that tx" is independent of that

Hans Moog [IF]어제 오전 10:29
actually I even think that the whole coordicide principles especially in connection with the sharding are very much in line with cfb's initial vision - and I am actually a bit sad that he never really dared to honestly look into them

Hans Moog [IF]어제 오전 10:29
I was even thinking about "naming" the multiverse "cfbs vision" once
maybe its more (pauls's vision) than cfbs vision
paul handy was one of the other early developers of IOTA btw.
and a very very smart person I have to say
a lot of the ideas that we are currently pursuing go back to his line of thinking

Hans Moog [IF]어제 오전 10:32
the infamous "ontology principles"
the ultimate goal is to be able to run "anything" on the tangle - not just value transfers but literally anything, event remotely related to DLT's
I envision IOTA being a general purpose DLT platform
pretty much like TCP/IP was for the internet

Hans Moog [IF]어제 오전 10:36
I introduced "broadcasts" a few days ago as a new concept that is the equivalent of UDP messages

Hans Moog [IF]어제 오전 10:49
I think that one of the things where cfb and me disagree regarding the "vision of IOTA" is that he think thats we should "finalize" the protocol as soon as possible (or "set it in stone" as he likes to call it), so hardware manufacturer can start to build hardware, whereas I think that it makes much more sense for it to be something like an "open evolving standard" that is so flexible that you can literally build whatever the fuck you want based on this protocol.

The internet wouldn't have been the internet, if it would have "just" been for sending scientific messages between researchers.
I can not anticipate and know what humans might do with DLT in the future, so limiting myself to "only value transfers" is IMHO the wrong decision.
for something to be successful, it needs to be able to "model" everything that could possibly exist

Hans Moog [IF]어제 오전 10:51
IOTA will be able to run "anything" on top of it - even "virtual instances of other cryptocurrencies"
and its not going to be some quirky slow emulation - it would most probably even be faster and more reliable than when being implemented without it

Hans Moog [IF]어제 오전 10:52
similar to "INTEL inside" you will most probably see sth like "Tangle inside" soon

Hans Moog [IF]어제 오전 10:54
"any application" running on top of the tangle (MAM, DID, Qubic, Matrix ... you name them) would ALWAYS have to be able to process IOTA value transfers
THAT's what will give the token a value

Hans Moog [IF]어제 오전 10:55
if everybody can already "speak the same language" anyway, then people will also use that language to communicate
which means that people will use the IOTA token to transfer value
so we don't need to "force ourselves" on others - they will come by themselves
because its the only thing that makes sense

Hans Moog [IF]어제 오전 10:57
[so Hans, $10 EOY still ?]
if btc stays where it is?
hard to achieve i'd say
most probably not
it always takes some time for people to "wake up"
dunno maybe it goes fast
most weak hands are gone in IOTA

Hans Moog [IF]어제 오전 11:00
But seriously guys ... the price of course is interesting but if we are able to pull this off, then this will be the start of a new form of society
it will affect everything
the way we interact .... even the way we behave towards each other
I am not even sure if you need to be "rich" in that kind of society
Star trek sounds like a nice vision


Hans Moog [IF]어제 오전 11:20
[once IOTA is completely implemented, its gonna be a matter of energy consumption optimization race I guess?]
ultimately, yes
whatever crypto is going to be the "cheapest" one to "operate" will win

Hans Moog [IF]어제 오전 11:22
BUT that is at the same time "expressive" enough to not have "niches" for weird competitors, that claim to be even a "little bit better" in one of the aspects
it needs to be the best possible solution that humans are most probably able to come up with

Hans Moog [IF]어제 오전 11:23
if even the smallest something can be improved, then it should become part of the core rather than a competing project
not having miners and being able to "upgrade" whenever it is necessary, is what will give IOTA power
not setting stuff in stone today

Hans Moog [IF]어제 오전 11:29
I guess what fascinates me the most about IOTA is that people have a different kind of philosophy - in crypto people are usually sharing the mindset of "let's destroy the banks ... or .... the FED ... or whoever they consider to be their enemy
IOTA for me is not so much about "destroying somebody else" rather than "creating something new"

Hans Moog [IF]어제 오전 11:30
But the "mindset and motivation" makes all the difference
And I feel like large parts of the community "understand and share" that vision

Hans Moog [IF]어제 오전 11:34
there are plenty of "problems" where DLT is not the right answer
but there are most probably also quite a few that we haven't even thought about, yet
that go way beyond just "finance"

Hans Moog [IF]어제 오전 11:38
[Has IF any plans for anonymous transactions Hans?]
it's current not our main point of research but I would say ultimately yes
the fact thats its feeless make "mixing" funds a very feasible solution
But even on top of that (like zero knowledge proofs and stuff) If there is a use case, then you should be able to do it with IOTA.
that's what I mean with "general purpose DLT" platform
whatever is possible should be doable with the protocol - not "just" IoT value transfers

Hans Moog [IF]어제 오전 11:42
everything you could most probably think of
the same way as TCP/IP allows you to play computer games, send emails, or watch streams

Hans Moog [IF]어제 오전 11:48
tomorrow I start merging the first ledger-related stuff into the development branch
from the outside it will most probably look like any other day : but starting to work on the "final version" which is supposed to be ready end of Q1 is a big milestone for us
2 months left

Hans Moog [IF]어제 오후 12:04
100% agree - let's finish this shit!
we have "talked" for quite a while - the coming months, we will have to show what we "have"
submitted by btlkhs to Iota [link] [comments]

3 months later. How the profitability of mining changed after halving

3 months later. How the profitability of mining changed after halving

3 months later. How the profitability of mining changed after halving
On May 11, the size of the Bitcoin mining reward fell by half. The next time it will be in 2024. What devices will be profitable by that time, and what to hope for owners of obsolete equipment.
In May 2020, a halving took place on the bitcoin network. The cryptocurrency mining reward has decreased from 12.5 to 6.25 BTC. This is a long-awaited event, which, according to the hopes of the crypto community, should lead to a strong increase in the value of the coin. For example, Anthony Pompliano, co-founder of investment company Morgan Creek Digital, predicted that the rate would rise to $100,000 by the end of 2021, primarily due to lower mining rewards.
So far, the bitcoin price hasn’t responded to the halving as much as expected. In mid-May, at the time of the reduction in the mining reward, the BTC rate was around $9,000. To date, the cryptocurrency has risen in price by 27%. This year’s high was set yesterday, August 18, at $12,400.
The hashrate of the cryptocurrency network showed a different dynamics. Its value fell immediately after the halving from 137.5 to 87 EH/s, according to bitinfocharts.com. Since mining bitcoins has become less profitable, some of the miners probably turned off their equipment. They could switch to mining other coins or completely abandon this activity due to its unprofitability.
Later, when the BTC rate began to rise, the amount of computing power in the coin’s network also began to increase. So, from late May to mid-August, the cryptocurrency hash rate increased from 87 to 130 EH/s. But over the past three days, the figure has dropped sharply by 20%, caused by floods in China. Torrential rains in Sichuan province caused power outages that interfered with the operation of mining farms.
Changes in hashrate and mining rewards have affected its difficulty. On May 11, at the time of the halving, this figure was at around 16.1 T. By the current moment, this value has increased to 16.9 T, in July rising to a maximum of 17.3 T.
The decline in the reward for mining cryptocurrency was partially offset by the increase in fees. Until May, a single BTC transfer cost the user an average of 50 cents. By the current moment, commissions have grown more than 10 times, to $5.5.
Mining profitability is now at around 0.114 THash/s. It fell sharply immediately after the halving from 0.16 to 0.08 THash/s. To date, the indicator has grown by 40%. This was due to the rise in BTC prices and higher fees.
Development Director at BitCluster Dmitry Shuvaev said that the profitability of the device for mining BTC s17–73Th/s is now about 8 thousand rubles per month (at an electricity price of 3.5 rubles per kWh). The payback period is about 15 months. Old devices, such as the Antminer S9, are now unprofitable to use, they do not bring profit. But this situation may change if the bitcoin rate rises to $15,000.
“We recommend our customers to buy the new generation S17 or S19 devices. It is these devices that will provide profitability until the next halving. Their break-even point is at $6,000 per bitcoin”, Shuvaev said.
In June, specialists from the research division of the BitMEX exchange announced that in the long term, 2–3 ASIC miner manufacturers will remain in the industry. Canaan’s Avalon devices were the first to hit the market in 2014. Three years later, in 2017, Bitmain took 75% of the market.
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Filecoin | Development Status and Mining Progress

Author: Gamals Ahmed, CoinEx Business Ambassador
https://preview.redd.it/5bqakdqgl3g51.jpg?width=865&format=pjpg&auto=webp&s=b709794863977eb6554e3919b9e00ca750e3e704
A decentralized storage network that transforms cloud storage into an account market. Miners obtain the integrity of the original protocol by providing data storage and / or retrieval. On the contrary, customers pay miners to store or distribute data and retrieve it.
Filecoin announced, that there will be more delays before its main network is officially launched.
Filecoin developers postponed the release date of their main network to late July to late August 2020.
As mentioned in a recent announcement, the Filecoin team said that the initiative completed the first round of the internal protocol security audit. Platform developers claim that the results of the review showed that they need to make several changes to the protocol’s code base before performing the second stage of the software testing process.
Created by Protocol Labs, Filecoin was developed using File System (IPFS), which is a peer-to-peer data storage network. Filecoin will allow users to trade storage space in an open and decentralized market.
Filecoin developers implemented one of the largest cryptocurrency sales in 2017. They have privately obtained over $ 200 million from professional or accredited investors, including many institutional investors.
The main network was slated to launch last month, but in February 2020, the Philly Queen development team delayed the release of the main network between July 15 and July 17, 2020.
They claimed that the outbreak of the Coronavirus (COVID-19) in China was the main cause of the delay. The developers now say that they need more time to solve the problems found during a recent codecase audit.
The Filecoin team noted the following:
“We have drafted a number of protocol changes to ensure that building our major network launch is safe and economically sound.” The project developers will add them to two different implementations of Filecoin (Lotus and go-filecoin) in the coming weeks.
Filecoin developers conducted a survey to allow platform community members to cast their votes on three different launch dates for Testnet Phase 2 and mainnet.
The team reported that the community gave their votes. Based on the vote results, the Filecoin team announced a “conservative” estimate that the second phase of the network test should begin by May 11, 2020. The main Filecoin network may be launched sometime between July 20 and August 21, 2020.
The updates to the project can be found on the Filecoin Road Map.
Filecoin developers stated:
“This option will make us get the most important protocol changes first, and then implement the rest as protocol updates during testnet.” Filecoin is back down from the final test stage.
Another filecoin decentralized storage network provider launched its catalytic test network, the final stage of the storage network test that supports the blockchain.
In a blog post on her website, Filecoin said she will postpone the last test round until August. The company also announced a calibration period from July 20 to August 3 to allow miners to test their mining settings and get an idea of how competition conditions affected their rewards.
Filecoin had announced earlier last month that the catalytic testnet test would precede its flagship launch. The delay in the final test also means that the company has returned the main launch window between August 31 and September 21.
Despite the lack of clear incentives for miners and multiple delays, Filecoin has succeeded in attracting huge interest, especially in China. Investors remained highly speculating on the network’s mining hardware and its premium price.
Mining in Filecoin
In most blockchain protocols, “miners” are network participants who do the work necessary to promote and maintain the blockchain. To provide these services, miners are compensated in the original cryptocurrency.
Mining in Filecoin works completely differently — instead of contributing to computational power, miners contribute storage capacity to use for dealing with customers looking to store data.
Filecoin will contain several types of miners:
Storage miners responsible for storing files and data on the network. Miners retrieval, responsible for providing quick tubes for file recovery. Miners repair to be carried out.
Storage miners are the heart of the network. They earn Filecoin by storing data for clients, and computerizing cipher directories to check storage over time. The probability of earning the reward reward and transaction fees is proportional to the amount of storage that the Miner contributes to the Filecoin network, not the hash power.
Retriever miners are the veins of the network. They earn Filecoin by winning bids and mining fees for a specific file, which is determined by the market value of the said file size. Miners bandwidth and recovery / initial transaction response time will determine its ability to close recovery deals on the network.
The maximum bandwidth of the recovery miners will determine the total amount of deals that it can enter into.
In the current implementation, the focus is mostly on storage miners, who sell storage capacity for FIL.

Hardware recommendations

The current system specifications recommended for running the miner are:
Compared to the hardware requirements for running a validity checker, these standards are much higher — although they definitely deserve it. Since these will not increase in the presumed future, the money spent on Filecoin mining hardware will provide users with many years of reliable service, and they pay themselves many times. Think of investing as a small business for cloud storage. To launch a model on the current data hosting model, it will cost millions of dollars in infrastructure and logistics to get started. With Filecoin, you can do the same for a few thousand dollars.
Proceed to mining
Deals are the primary function of the Filecoin network, and it represents an agreement between a client and miners for a “storage” contract.
Once the customer decides to have a miner to store based on the available capacity, duration and price required, he secures sufficient funds in a linked portfolio to cover the total cost of the deal. The deal is then published once the mine accepts the storage agreement. By default, all Filecoin miners are set to automatically accept any deal that meets their criteria, although this can be disabled for miners who prefer to organize their deals manually.
After the deal is published, the customer prepares the data for storage and then transfers it to the miner. Upon receiving all the data, the miner fills in the data in a sector, closes it, and begins to provide proofs to the chain. Once the first confirmation is obtained, the customer can make sure the data is stored correctly, and the deal has officially started.
Throughout the deal, the miner provides continuous proofs to the chain. Clients gradually pay with money they previously closed. If there is missing or late evidence, the miner is punished. More information about this can be found in the Runtime, Cut and Penalties section of this page.
At Filecoin, miners earn two different types of rewards for their efforts: storage fees and reward prevention.
Storage fees are the fees that customers pay regularly after reaching a deal, in exchange for storing data. This fee is automatically deposited into the withdrawal portfolio associated with miners while they continue to perform their duties over time, and is locked for a short period upon receipt.
Block rewards are large sums given to miners calculated on a new block. Unlike storage fees, these rewards do not come from a linked customer; Instead, the new FIL “prints” the network as an inflationary and incentive measure for miners to develop the chain. All active miners on the network have a chance to get a block bonus, their chance to be directly proportional to the amount of storage space that is currently being contributed to the network.
Duration of operation, cutting and penalties
“Slashing” is a feature found in most blockchain protocols, and is used to punish miners who fail to provide reliable uptime or act maliciously against the network.
In Filecoin, miners are susceptible to two different types of cut: storage error cut, unanimously reduce error.
Storage Error Reduction is a term used to include a wider range of penalties, including error fees, sector penalties, and termination fees. Miners must pay these penalties if they fail to provide reliability of the sector or decide to leave the network voluntarily.
An error fee is a penalty that a miner incurs for each non-working day. Sector punishment: A penalty incurred by a miner of a disrupted sector for which no error was reported before the WindowPoSt inspection.
The sector will pay an error fee after the penalty of the sector once the error is discovered.
Termination Fee: A penalty that a miner incurs when a sector is voluntary or involuntarily terminated and removed from the network.
Cutting consensus error is the penalty that a miner incurs for committing consensus errors. This punishment applies to miners who have acted maliciously against the network consensus function.
Filecoin miners
Eight of the top 10 Felticoin miners are Chinese investors or companies, according to the blockchain explorer, while more companies are selling cloud mining contracts and distributed file sharing system hardware. CoinDesk’s Wolfe Chao wrote: “China’s craze for Filecoin may have been largely related to the long-standing popularity of crypto mining in the country overall, which is home to about 65% of the computing power on Bitcoin at discretion.”
With Filecoin approaching the launch of the mainnet blocknet — after several delays since the $ 200 million increase in 2017 — Chinese investors are once again speculating strongly about network mining devices and their premium prices.
Since Protocol Labs, the company behind Filecoin, released its “Test Incentives” program on June 9 that was scheduled to start in a week’s time, more than a dozen Chinese companies have started selling cloud mining contracts and hardware — despite important details such as economics Mining incentives on the main network are still endless.
Sales volumes to date for each of these companies can range from half a million to tens of millions of dollars, according to self-reported data on these platforms that CoinDesk has watched and interviews with several mining hardware manufacturers.
Filecoin’s goal is to build a distributed storage network with token rewards to spur storage hosting as a way to drive wider adoption. Protocol Labs launched a test network in December 2019. But the tokens mined in the testing environment so far are not representative of the true silicon coin that can be traded when the main network is turned on. Moreover, the mining incentive economics on testnet do not represent how final block rewards will be available on the main network.
However, data from Blockecoin’s blocknetin testnet explorers show that eight out of 10 miners with the most effective mining force on testnet are currently Chinese miners.
These eight miners have about 15 petabytes (PB) of effective storage mining power, accounting for more than 85% of the total test of 17.9 petable. For the context, 1 petabyte of hard disk storage = 1000 terabytes (terabytes) = 1 million gigabytes (GB).
Filecoin craze in China may be closely related to the long-standing popularity of crypt mining in the country overall, which is home to about 65% of the computing power on Bitcoin by estimation. In addition, there has been a lot of hype in China about foreign exchange mining since 2018, as companies promote all types of devices when the network is still in development.
“Encryption mining has always been popular in China,” said Andy Tien, co-founder of 1475, one of several mining hardware manufacturers in Philquin supported by prominent Chinese video indicators such as Fenbushi and Hashkey Capital.
“Even though the Velikoyen mining process is more technologically sophisticated, the idea of mining using hard drives instead of specialized machines like Bitcoin ASIC may be a lot easier for retailers to understand,” he said.
Meanwhile, according to Feixiaohao, a Chinese service comparable to CoinMarketCap, nearly 50 Chinese crypto exchanges are often somewhat unknown with some of the more well-known exchanges including Gate.io and Biki — have listed trading pairs for Filecoin currency contracts for USDT.
In bitcoin mining, at the current difficulty level, one segment per second (TH / s) fragmentation rate is expected to generate around 0.000008 BTC within 24 hours. The higher the number of TH / s, the greater the number of bitcoins it should be able to produce proportionately. But in Filecoin, the efficient mining force of miners depends on the amount of data stamped on the hard drive, not the total size of the hard drive.
To close data in the hard drive, the Filecoin miner still needs processing power, i.e. CPU or GPU as well as RAM. More powerful processors with improved software can confine data to the hard drive more quickly, so miners can combine more efficient mining energy faster on a given day.
As of this stage, there appears to be no transparent way at the network level for retail investors to see how much of the purchased hard disk drive was purchased which actually represents an effective mining force.
The U.S.-based Labs Protocol was behind Filecoin’s initial coin offer for 2017, which raised an astonishing $ 200 million.
This was in addition to a $ 50 million increase in private investment supported by notable venture capital projects including Sequoia, Anderson Horowitz and Union Square Ventures. CoinDk’s parent company, CoinDk, has also invested in Protocol Labs.
After rounds of delay, Protocol Protocols said in September 2019 that a testnet launch would be available around December 2019 and the main network would be rolled out in the first quarter of 2020.
The test started as promised, but the main network has been delayed again and is now expected to launch in August 2020. What is Filecoin mining process?
Filecoin mainly consists of three parts: the storage market (the chain), the blockecin Filecoin, and the search market (under the chain). Storage and research market in series and series respectively for security and efficiency. For users, the storage frequency is relatively low, and the security requirements are relatively high, so the storage process is placed on the chain. The retrieval frequency is much higher than the storage frequency when there is a certain amount of data. Given the performance problem in processing data on the chain, the retrieval process under the chain is performed. In order to solve the security issue of payment in the retrieval process, Filecoin adopts the micro-payment strategy. In simple terms, the process is to split the document into several copies, and every time the user gets a portion of the data, the corresponding fee is paid. Types of mines corresponding to Filecoin’s two major markets are miners and warehousers, among whom miners are primarily responsible for storing data and block packages, while miners are primarily responsible for data query. After the stable operation of the major Filecoin network in the future, the mining operator will be introduced, who is the main responsible for data maintenance.
In the initial release of Filecoin, the request matching mechanism was not implemented in the storage market and retrieval market, but the takeover mechanism was adopted. The three main parts of Filecoin correspond to three processes, namely the stored procedure, retrieval process, packaging and reward process. The following figure shows the simplified process and the income of the miners:
The Filecoin mining process is much more complicated, and the important factor in determining the previous mining profit is efficient storage. Effective storage is a key feature that distinguishes Filecoin from other decentralized storage projects. In Filecoin’s EC consensus, effective storage is similar to interest in PoS, which determines the likelihood that a miner will get the right to fill, that is, the proportion of miners effectively stored in the entire network is proportional to final mining revenue.
It is also possible to obtain higher effective storage under the same hardware conditions by improving the mining algorithm. However, the current increase in the number of benefits that can be achieved by improving the algorithm is still unknown.
It seeks to promote mining using Filecoin Discover
Filecoin announced Filecoin Discover — a step to encourage miners to join the Filecoin network. According to the company, Filecoin Discover is “an ever-growing catalog of numerous petabytes of public data covering literature, science, art, and history.” Miners interested in sharing can choose which data sets they want to store, and receive that data on a drive at a cost. In exchange for storing this verified data, miners will earn additional Filecoin above the regular block rewards for storing data. Includes the current catalog of open source data sets; ENCODE, 1000 Genomes, Project Gutenberg, Berkley Self-driving data, more projects, and datasets are added every day.
Ian Darrow, Head of Operations at Filecoin, commented on the announcement:
“Over 2.5 quintillion bytes of data are created every day. This data includes 294 billion emails, 500 million tweets and 64 billion messages on social media. But it is also climatology reports, disease tracking maps, connected vehicle coordinates and much more. It is extremely important that we maintain data that will serve as the backbone for future research and discovery”.
Miners who choose to participate in Filecoin Discover may receive hard drives pre-loaded with verified data, as well as setup and maintenance instructions, depending on the company. The Filecoin team will also host the Slack (fil-Discover-support) channel where miners can learn more.
Filecoin got its fair share of obstacles along the way. Last month Filecoin announced a further delay before its main network was officially launched — after years of raising funds.
In late July QEBR (OTC: QEBR) announced that it had ceded ownership of two subsidiaries in order to focus all of the company’s resources on building blockchain-based mining operations.
The QEBR technology team previously announced that it has proven its system as a Filecoin node valid with CPU, GPU, bandwidth and storage compatibility that meets all IPFS guidelines. The QEBR test system is connected to the main Filecoin blockchain and the already mined filecoin coin has already been tested.
“The disclosure of Sheen Boom and Jihye will allow our team to focus only on the upcoming global launch of Filecoin. QEBR branch, Shenzhen DZD Digital Technology Ltd. (“ DZD “), has a strong background in blockchain development, extraction Data, data acquisition, data processing, data technology research. We strongly believe Filecoin has the potential to be a leading blockchain-based cryptocurrency and will make every effort to make QEBR an important player when Mainecoin mainnet will be launched soon”.
IPFS and Filecoin
Filecoin and IPFS are complementary protocols for storing and sharing data in a decentralized network. While users are not required to use Filecoin and IPFS together, the two combined are working to resolve major failures in the current web infrastructure.
IPFS
It is an open source protocol that allows users to store and transmit verifiable data with each other. IPFS users insist on data on the network by installing it on their own device, to a third-party cloud service (known as Pinning Services), or through community-oriented systems where a group of individual IPFS users share resources to ensure the content stays live.
The lack of an integrated catalytic mechanism is the challenge Filecoin hopes to solve by allowing users to catalyze long-term distributed storage at competitive prices through the storage contract market, while maintaining the efficiency and flexibility that the IPFS network provides.
Using IPFS
In IPFS, the data is hosted by the required data installation nodes. For data to persist while the user node is offline, users must either rely on their other peers to install their data voluntarily or use a central install service to store data.
Peer-to-peer reliance caching data may be a good thing as one or multiple organizations share common files on an internal network, or where strong social contracts can be used to ensure continued hosting and preservation of content in the long run. Most users in an IPFS network use an installation service.
Using Filecoin
The last option is to install your data in a decentralized storage market, such as Filecoin. In Filecoin’s structure, customers make regular small payments to store data when a certain availability, while miners earn those payments by constantly checking the integrity of this data, storing it, and ensuring its quick recovery. This allows users to motivate Filecoin miners to ensure that their content will be live when it is needed, a distinct advantage of relying only on other network users as required using IPFS alone.
Filecoin, powered by IPFS
It is important to know that Filecoin is built on top of IPFS. Filecoin aims to be a very integrated and seamless storage market that takes advantage of the basic functions provided by IPFS, they are connected to each other, but can be implemented completely independently of each other. Users do not need to interact with Filecoin in order to use IPFS.
Some advantages of sharing Filecoin with IPFS:
Of all the decentralized storage projects, Filecoin is undoubtedly the most interested, and IPFS has been running stably for two years, fully demonstrating the strength of its core protocol.
Filecoin’s ability to obtain market share from traditional central storage depends on end-user experience and storage price. Currently, most Filecoin nodes are posted in the IDC room. Actual deployment and operation costs are not reduced compared to traditional central cloud storage, and the storage process is more complicated.
PoRep and PoSt, which has a large number of proofs of unknown operation, are required to cause the actual storage cost to be so, in the early days of the release of Filecoin. The actual cost of storing data may be higher than the cost of central cloud storage, but the initial storage node may reduce the storage price in order to obtain block rewards, which may result in the actual storage price lower than traditional central cloud storage.
In the long term, Filecoin still needs to take full advantage of its P2P storage, convert storage devices from specialization to civil use, and improve its algorithms to reduce storage costs without affecting user experience. The storage problem is an important problem to be solved in the blockchain field, so a large number of storage projects were presented at the 19th Web3 Summit. IPFS is an important part of Web3 visibility. Its development will affect the development of Web3 to some extent. Likewise, Web3 development somewhat determines the future of IPFS. Filecoin is an IPFS-based storage class project initiated by IPFS. There is no doubt that he is highly expected.
Resources :
  1. https://www.coindesk.com/filecoin-pushes-back-final-testing-phase-announces-calibration-period-for-miners
  2. https://docs.filecoin.io/mine/#types-of-miners https://www.nasdaq.com/articles/inside-the-craze-for-filecoin-crypto-mining-in-china-2020-07-12؟amp
  3. https://www.prnewswire.com/news-releases/qebr-streamlines-holdings-to-concentrate-on-filecoin-development-and-mining-301098731.html
  4. https://www.crowdfundinsider.com/2020/05/161200-filecoin-seeks-to-boost-mining-with-filecoin-discove
  5. https://zephyrnet.com/filecoin-seeks-to-boost-mining-with-filecoin-discove
  6. https://docs.filecoin.io/introduction/ipfs-and-filecoin/#filecoin-powered-by-ipfs
submitted by CoinEx_Institution to filecoin [link] [comments]

XMR.RU-report (APRIL)

Hello community!
Here is report from XMR.RU-team.
The following articles/manuals were translated into Russian and posted not only on XMR.RU but also on Bitcointalk, Bits.Media, different crypto-chats, etc.
If you would like to read the original article in English, then, open the article you are interested in, and at the end of each article you will find a link to the source.
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You can support our enthusiasm in spreading information about Monero among the CIS countries!
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submitted by TheFuzzStone to Monero [link] [comments]

Where is Bitcoin Going and When?

Where is Bitcoin Going and When?

The Federal Reserve and the United States government are pumping extreme amounts of money into the economy, already totaling over $484 billion. They are doing so because it already had a goal to inflate the United States Dollar (USD) so that the market can continue to all-time highs. It has always had this goal. They do not care how much inflation goes up by now as we are going into a depression with the potential to totally crash the US economy forever. They believe the only way to save the market from going to zero or negative values is to inflate it so much that it cannot possibly crash that low. Even if the market does not dip that low, inflation serves the interest of powerful people.
The impending crash of the stock market has ramifications for Bitcoin, as, though there is no direct ongoing-correlation between the two, major movements in traditional markets will necessarily affect Bitcoin. According to the Blockchain Center’s Cryptocurrency Correlation Tool, Bitcoin is not correlated with the stock market. However, when major market movements occur, they send ripples throughout the financial ecosystem which necessary affect even ordinarily uncorrelated assets.
Therefore, Bitcoin will reach X price on X date after crashing to a price of X by X date.

Stock Market Crash

The Federal Reserve has caused some serious consternation with their release of ridiculous amounts of money in an attempt to buoy the economy. At face value, it does not seem to have any rationale or logic behind it other than keeping the economy afloat long enough for individuals to profit financially and politically. However, there is an underlying basis to what is going on which is important to understand in order to profit financially.
All markets are functionally price probing systems. They constantly undergo a price-discovery process. In a fiat system, money is an illusory and a fundamentally synthetic instrument with no intrinsic value – similar to Bitcoin. The primary difference between Bitcoin is the underlying technology which provides a slew of benefits that fiat does not. Fiat, however, has an advantage in being able to have the support of powerful nation-states which can use their might to insure the currency’s prosperity.
Traditional stock markets are composed of indices (pl. of index). Indices are non-trading market instruments which are essentially summaries of business values which comprise them. They are continuously recalculated throughout a trading day, and sometimes reflected through tradable instruments such as Exchange Traded Funds or Futures. Indices are weighted by market capitalizations of various businesses.
Price theory essentially states that when a market fails to take out a new low in a given range, it will have an objective to take out the high. When a market fails to take out a new high, it has an objective to make a new low. This is why price-time charts go up and down, as it does this on a second-by-second, minute-by-minute, day-by-day, and even century-by-century basis. Therefore, market indices will always return to some type of bull market as, once a true low is formed, the market will have a price objective to take out a new high outside of its’ given range – which is an all-time high. Instruments can only functionally fall to zero, whereas they can grow infinitely.
So, why inflate the economy so much?
Deflation is disastrous for central banks and markets as it raises the possibility of producing an overall price objective of zero or negative values. Therefore, under a fractional reserve system with a fiat currency managed by a central bank – the goal of the central bank is to depreciate the currency. The dollar is manipulated constantly with the intention of depreciating its’ value.
Central banks have a goal of continued inflated fiat values. They tend to ordinarily contain it at less than ten percent (10%) per annum in order for the psyche of the general populace to slowly adjust price increases. As such, the markets are divorced from any other logic. Economic policy is the maintenance of human egos, not catering to fundamental analysis. Gross Domestic Product (GDP) growth is well-known not to be a measure of actual growth or output. It is a measure of increase in dollars processed. Banks seek to produce raising numbers which make society feel like it is growing economically, making people optimistic. To do so, the currency is inflated, though inflation itself does not actually increase growth. When society is optimistic, it spends and engages in business – resulting in actual growth. It also encourages people to take on credit and debts, creating more fictional fiat.
Inflation is necessary for markets to continue to reach new heights, generating positive emotional responses from the populace, encouraging spending, encouraging debt intake, further inflating the currency, and increasing the sale of government bonds. The fiat system only survives by generating more imaginary money on a regular basis.
Bitcoin investors may profit from this by realizing that stock investors as a whole always stand to profit from the market so long as it is managed by a central bank and does not collapse entirely. If those elements are filled, it has an unending price objective to raise to new heights. It also allows us to realize that this response indicates that the higher-ups believe that the economy could crash in entirety, and it may be wise for investors to have multiple well-thought-out exit strategies.

Economic Analysis of Bitcoin

The reason why the Fed is so aggressively inflating the economy is due to fears that it will collapse forever or never rebound. As such, coupled with a global depression, a huge demand will appear for a reserve currency which is fundamentally different than the previous system. Bitcoin, though a currency or asset, is also a market. It also undergoes a constant price-probing process. Unlike traditional markets, Bitcoin has the exact opposite goal. Bitcoin seeks to appreciate in value and not depreciate. This has a quite different affect in that Bitcoin could potentially become worthless and have a price objective of zero.
Bitcoin was created in 2008 by a now famous mysterious figure known as Satoshi Nakamoto and its’ open source code was released in 2009. It was the first decentralized cryptocurrency to utilize a novel protocol known as the blockchain. Up to one megabyte of data may be sent with each transaction. It is decentralized, anonymous, transparent, easy to set-up, and provides myriad other benefits. Bitcoin is not backed up by anything other than its’ own technology.
Bitcoin is can never be expected to collapse as a framework, even were it to become worthless. The stock market has the potential to collapse in entirety, whereas, as long as the internet exists, Bitcoin will be a functional system with a self-authenticating framework. That capacity to persist regardless of the actual price of Bitcoin and the deflationary nature of Bitcoin means that it has something which fiat does not – inherent value.
Bitcoin is based on a distributed database known as the “blockchain.” Blockchains are essentially decentralized virtual ledger books, replete with pages known as “blocks.” Each page in a ledger is composed of paragraph entries, which are the actual transactions in the block.
Blockchains store information in the form of numerical transactions, which are just numbers. We can consider these numbers digital assets, such as Bitcoin. The data in a blockchain is immutable and recorded only by consensus-based algorithms. Bitcoin is cryptographic and all transactions are direct, without intermediary, peer-to-peer.
Bitcoin does not require trust in a central bank. It requires trust on the technology behind it, which is open-source and may be evaluated by anyone at any time. Furthermore, it is impossible to manipulate as doing so would require all of the nodes in the network to be hacked at once – unlike the stock market which is manipulated by the government and “Market Makers”. Bitcoin is also private in that, though the ledge is openly distributed, it is encrypted. Bitcoin’s blockchain has one of the greatest redundancy and information disaster recovery systems ever developed.
Bitcoin has a distributed governance model in that it is controlled by its’ users. There is no need to trust a payment processor or bank, or even to pay fees to such entities. There are also no third-party fees for transaction processing. As the ledge is immutable and transparent it is never possible to change it – the data on the blockchain is permanent. The system is not easily susceptible to attacks as it is widely distributed. Furthermore, as users of Bitcoin have their private keys assigned to their transactions, they are virtually impossible to fake. No lengthy verification, reconciliation, nor clearing process exists with Bitcoin.
Bitcoin is based on a proof-of-work algorithm. Every transaction on the network has an associated mathetical “puzzle”. Computers known as miners compete to solve the complex cryptographic hash algorithm that comprises that puzzle. The solution is proof that the miner engaged in sufficient work. The puzzle is known as a nonce, a number used only once. There is only one major nonce at a time and it issues 12.5 Bitcoin. Once it is solved, the fact that the nonce has been solved is made public.
A block is mined on average of once every ten minutes. However, the blockchain checks every 2,016,000 minutes (approximately four years) if 201,600 blocks were mined. If it was faster, it increases difficulty by half, thereby deflating Bitcoin. If it was slower, it decreases, thereby inflating Bitcoin. It will continue to do this until zero Bitcoin are issued, projected at the year 2140. On the twelfth of May, 2020, the blockchain will halve the amount of Bitcoin issued when each nonce is guessed. When Bitcoin was first created, fifty were issued per block as a reward to miners. 6.25 BTC will be issued from that point on once each nonce is solved.
Unlike fiat, Bitcoin is a deflationary currency. As BTC becomes scarcer, demand for it will increase, also raising the price. In this, BTC is similar to gold. It is predictable in its’ output, unlike the USD, as it is based on a programmed supply. We can predict BTC’s deflation and inflation almost exactly, if not exactly. Only 21 million BTC will ever be produced, unless the entire network concedes to change the protocol – which is highly unlikely.
Some of the drawbacks to BTC include congestion. At peak congestion, it may take an entire day to process a Bitcoin transaction as only three to five transactions may be processed per second. Receiving priority on a payment may cost up to the equivalent of twenty dollars ($20). Bitcoin mining consumes enough energy in one day to power a single-family home for an entire week.

Trading or Investing?

The fundamental divide in trading revolves around the question of market structure. Many feel that the market operates totally randomly and its’ behavior cannot be predicted. For the purposes of this article, we will assume that the market has a structure, but that that structure is not perfect. That market structure naturally generates chart patterns as the market records prices in time. In order to determine when the stock market will crash, causing a major decline in BTC price, we will analyze an instrument, an exchange traded fund, which represents an index, as opposed to a particular stock. The price patterns of the various stocks in an index are effectively smoothed out. In doing so, a more technical picture arises. Perhaps the most popular of these is the SPDR S&P Standard and Poor 500 Exchange Traded Fund ($SPY).
In trading, little to no concern is given about value of underlying asset. We are concerned primarily about liquidity and trading ranges, which are the amount of value fluctuating on a short-term basis, as measured by volatility-implied trading ranges. Fundamental analysis plays a role, however markets often do not react to real-world factors in a logical fashion. Therefore, fundamental analysis is more appropriate for long-term investing.
The fundamental derivatives of a chart are time (x-axis) and price (y-axis). The primary technical indicator is price, as everything else is lagging in the past. Price represents current asking price and incorrectly implementing positions based on price is one of the biggest trading errors.
Markets and currencies ordinarily have noise, their tendency to back-and-fill, which must be filtered out for true pattern recognition. That noise does have a utility, however, in allowing traders second chances to enter favorable positions at slightly less favorable entry points. When you have any market with enough liquidity for historical data to record a pattern, then a structure can be divined. The market probes prices as part of an ongoing price-discovery process. Market technicians must sometimes look outside of the technical realm and use visual inspection to ascertain the relevance of certain patterns, using a qualitative eye that recognizes the underlying quantitative nature
Markets and instruments rise slower than they correct, however they rise much more than they fall. In the same vein, instruments can only fall to having no worth, whereas they could theoretically grow infinitely and have continued to grow over time. Money in a fiat system is illusory. It is a fundamentally synthetic instrument which has no intrinsic value. Hence, the recent seemingly illogical fluctuations in the market.
According to trade theory, the unending purpose of a market or instrument is to create and break price ranges according to the laws of supply and demand. We must determine when to trade based on each market inflection point as defined in price and in time as opposed to abandoning the trend (as the contrarian trading in this sub often does). Time and Price symmetry must be used to be in accordance with the trend. When coupled with a favorable risk to reward ratio, the ability to stay in the market for most of the defined time period, and adherence to risk management rules; the trader has a solid methodology for achieving considerable gains.
We will engage in a longer term market-oriented analysis to avoid any time-focused pressure. The Bitcoin market is open twenty-four-hours a day, so trading may be done when the individual is ready, without any pressing need to be constantly alert. Let alone, we can safely project months in advance with relatively high accuracy. Bitcoin is an asset which an individual can both trade and invest, however this article will be focused on trading due to the wide volatility in BTC prices over the short-term.

Technical Indicator Analysis of Bitcoin

Technical indicators are often considered self-fulfilling prophecies due to mass-market psychology gravitating towards certain common numbers yielded from them. They are also often discounted when it comes to BTC. That means a trader must be especially aware of these numbers as they can prognosticate market movements. Often, they are meaningless in the larger picture of things.
  • Volume – derived from the market itself, it is mostly irrelevant. The major problem with volume for stocks is that the US market open causes tremendous volume surges eradicating any intrinsic volume analysis. This does not occur with BTC, as it is open twenty-four-seven. At major highs and lows, the market is typically anemic. Most traders are not active at terminal discretes (peaks and troughs) because of levels of fear. Volume allows us confidence in time and price symmetry market inflection points, if we observe low volume at a foretold range of values. We can rationalize that an absolute discrete is usually only discovered and anticipated by very few traders. As the general market realizes it, a herd mentality will push the market in the direction favorable to defending it. Volume is also useful for swing trading, as chances for swing’s validity increases if an increase in volume is seen on and after the swing’s activation. Volume is steadily decreasing. Lows and highs are reached when volume is lower.
Therefore, due to the relatively high volume on the 12th of March, we can safely determine that a low for BTC was not reached.
  • VIX – Volatility Index, this technical indicator indicates level of fear by the amount of options-based “insurance” in portfolios. A low VIX environment, less than 20 for the S&P index, indicates a stable market with a possible uptrend. A high VIX, over 20, indicates a possible downtrend. VIX is essentially useless for BTC as BTC-based options do not exist. It allows us to predict the market low for $SPY, which will have an indirect impact on BTC in the short term, likely leading to the yearly low. However, it is equally important to see how VIX is changing over time, if it is decreasing or increasing, as that indicates increasing or decreasing fear. Low volatility allows high leverage without risk or rest. Occasionally, markets do rise with high VIX.
As VIX is unusually high, in the forties, we can be confident that a downtrend for the S&P 500 is imminent.
  • RSI (Relative Strength Index): The most important technical indicator, useful for determining highs and lows when time symmetry is not availing itself. Sometimes analysis of RSI can conflict in different time frames, easiest way to use it is when it is at extremes – either under 30 or over 70. Extremes can be used for filtering highs or lows based on time-and-price window calculations. Highly instructive as to major corrective clues and indicative of continued directional movement. Must determine if longer-term RSI values find support at same values as before. It is currently at 73.56.
  • Secondly, RSI may be used as a high or low filter, to observe the level that short-term RSI reaches in counter-trend corrections. Repetitions based on market movements based on RSI determine how long a trade should be held onto. Once a short term RSI reaches an extreme and stay there, the other RSI’s should gradually reach the same extremes. Once all RSI’s are at extreme highs, a trend confirmation should occur and RSI’s should drop to their midpoint.

Trend Definition Analysis of Bitcoin

Trend definition is highly powerful, cannot be understated. Knowledge of trend logic is enough to be a profitable trader, yet defining a trend is an arduous process. Multiple trends coexist across multiple time frames and across multiple market sectors. Like time structure, it makes the underlying price of the instrument irrelevant. Trend definitions cannot determine the validity of newly formed discretes. Trend becomes apparent when trades based in counter-trend inflection points continue to fail.
Downtrends are defined as an instrument making lower lows and lower highs that are recurrent, additive, qualified swing setups. Downtrends for all instruments are similar, except forex. They are fast and complete much quicker than uptrends. An average downtrend is 18 months, something which we will return to. An uptrend inception occurs when an instrument reaches a point where it fails to make a new low, then that low will be tested. After that, the instrument will either have a deep range retracement or it may take out the low slightly, resulting in a double-bottom. A swing must eventually form.
A simple way to roughly determine trend is to attempt to draw a line from three tops going upwards (uptrend) or a line from three bottoms going downwards (downtrend). It is not possible to correctly draw a downtrend line on the BTC chart, but it is possible to correctly draw an uptrend – indicating that the overall trend is downwards. The only mitigating factor is the impending stock market crash.

Time Symmetry Analysis of Bitcoin

Time is the movement from the past through the present into the future. It is a measurement in quantified intervals. In many ways, our perception of it is a human construct. It is more powerful than price as time may be utilized for a trade regardless of the market inflection point’s price. Were it possible to perfectly understand time, price would be totally irrelevant due to the predictive certainty time affords. Time structure is easier to learn than price, but much more difficult to apply with any accuracy. It is the hardest aspect of trading to learn, but also the most rewarding.
Humans do not have the ability to recognize every time window, however the ability to define market inflection points in terms of time is the single most powerful trading edge. Regardless, price should not be abandoned for time alone. Time structure analysis It is inherently flawed, as such the markets have a fail-safe, which is Price Structure. Even though Time is much more powerful, Price Structure should never be completely ignored. Time is the qualifier for Price and vice versa. Time can fail by tricking traders into counter-trend trading.
Time is a predestined trade quantifier, a filter to slow trades down, as it allows a trader to specifically focus on specific time windows and rest at others. It allows for quantitative measurements to reach deterministic values and is the primary qualifier for trends. Time structure should be utilized before price structure, and it is the primary trade criterion which requires support from price. We can see price structure on a chart, as areas of mathematical support or resistance, but we cannot see time structure.
Time may be used to tell us an exact point in the future where the market will inflect, after Price Theory has been fulfilled. In the present, price objectives based on price theory added to possible future times for market inflection points give us the exact time of market inflection points and price.
Time Structure is repetitions of time or inherent cycles of time, occurring in a methodical way to provide time windows which may be utilized for inflection points. They are not easily recognized and not easily defined by a price chart as measuring and observing time is very exact. Time structure is not a science, yet it does require precise measurements. Nothing is certain or definite. The critical question must be if a particular approach to time structure is currently lucrative or not.
We will measure it in intervals of 180 bars. Our goal is to determine time windows, when the market will react and when we should pay the most attention. By using time repetitions, the fact that market inflection points occurred at some point in the past and should, therefore, reoccur at some point in the future, we should obtain confidence as to when SPY will reach a market inflection point. Time repetitions are essentially the market’s memory. However, simply measuring the time between two points then trying to extrapolate into the future does not work. Measuring time is not the same as defining time repetitions. We will evaluate past sessions for market inflection points, whether discretes, qualified swings, or intra-range. Then records the times that the market has made highs or lows in a comparable time period to the future one seeks to trade in.
What follows is a time Histogram – A grouping of times which appear close together, then segregated based on that closeness. Time is aligned into combined histogram of repetitions and cycles, however cycles are irrelevant on a daily basis. If trading on an hourly basis, do not use hours.
  • Yearly Lows (last seven years): 1/1/13, 4/10/14, 1/15/15, 1/17/16, 1/1/17, 12/15/18, 2/6/19
  • Monthly Mode: 1, 1, 1, 1, 2, 4, 12
  • Daily Mode: 1, 1, 6, 10, 15, 15, 17
  • Monthly Lows (for the last year): 3/12/20 (10:00pm), 2/28/20 (7:09am), 1/2/20 (8:09pm), 12/18/19 (8:00am), 11/25/19 (1:00am), 10/24/19 (2:59am), 9/30/19 (2:59am), 8/29,19 (4:00am), 7/17/19 (7:59am), 6/4/19 (5:59pm), 5/1/19 (12:00am), 4/1/19 (12:00am)
  • Daily Lows Mode for those Months: 1, 1, 2, 4, 12, 17, 18, 24, 25, 28, 29, 30
  • Hourly Lows Mode for those Months (Military time): 0100, 0200, 0200, 0400, 0700, 0700, 0800, 1200, 1200, 1700, 2000, 2200
  • Minute Lows Mode for those Months: 00, 00, 00, 00, 00, 00, 09, 09, 59, 59, 59, 59
  • Day of the Week Lows (last twenty-six weeks):
Weighted Times are repetitions which appears multiple times within the same list, observed and accentuated once divided into relevant sections of the histogram. They are important in the presently defined trading time period and are similar to a mathematical mode with respect to a series. Phased times are essentially periodical patterns in histograms, though they do not guarantee inflection points
Evaluating the yearly lows, we see that BTC tends to have its lows primarily at the beginning of every year, with a possibility of it being at the end of the year. Following the same methodology, we get the middle of the month as the likeliest day. However, evaluating the monthly lows for the past year, the beginning and end of the month are more likely for lows.
Therefore, we have two primary dates from our histogram.
1/1/21, 1/15/21, and 1/29/21
2:00am, 8:00am, 12:00pm, or 10:00pm
In fact, the high for this year was February the 14th, only thirty days off from our histogram calculations.
The 8.6-Year Armstrong-Princeton Global Economic Confidence model states that 2.15 year intervals occur between corrections, relevant highs and lows. 2.15 years from the all-time peak discrete is February 9, 2020 – a reasonably accurate depiction of the low for this year (which was on 3/12/20). (Taking only the Armstrong model into account, the next high should be Saturday, April 23, 2022). Therefore, the Armstrong model indicates that we have actually bottomed out for the year!
Bear markets cannot exist in perpetuity whereas bull markets can. Bear markets will eventually have price objectives of zero, whereas bull markets can increase to infinity. It can occur for individual market instruments, but not markets as a whole. Since bull markets are defined by low volatility, they also last longer. Once a bull market is indicated, the trader can remain in a long position until a new high is reached, then switch to shorts. The average bear market is eighteen months long, giving us a date of August 19th, 2021 for the end of this bear market – roughly speaking. They cannot be shorter than fifteen months for a central-bank controlled market, which does not apply to Bitcoin. (Otherwise, it would continue until Sunday, September 12, 2021.) However, we should expect Bitcoin to experience its’ exponential growth after the stock market re-enters a bull market.
Terry Laundy’s T-Theory implemented by measuring the time of an indicator from peak to trough, then using that to define a future time window. It is similar to an head-and-shoulders pattern in that it is the process of forming the right side from a synthetic technical indicator. If the indicator is making continued lows, then time is recalculated for defining the right side of the T. The date of the market inflection point may be a price or indicator inflection date, so it is not always exactly useful. It is better to make us aware of possible market inflection points, clustered with other data. It gives us an RSI low of May, 9th 2020.
The Bradley Cycle is coupled with volatility allows start dates for campaigns or put options as insurance in portfolios for stocks. However, it is also useful for predicting market moves instead of terminal dates for discretes. Using dates which correspond to discretes, we can see how those dates correspond with changes in VIX.
Therefore, our timeline looks like:
  • 2/14/20 – yearly high ($10372 USD)
  • 3/12/20 – yearly low thus far ($3858 USD)
  • 5/9/20 – T-Theory true yearly low (BTC between 4863 and 3569)
  • 5/26/20 – hashrate difficulty halvening
  • 11/14/20 – stock market low
  • 1/15/21 – yearly low for BTC, around $8528
  • 8/19/21 – end of stock bear market
  • 11/26/21 – eighteen months from halvening, average peak from halvenings (BTC begins rising from $3000 area to above $23,312)
  • 4/23/22 – all-time high
Taken from my blog: http://aliamin.info/2020/
submitted by aibnsamin1 to Bitcoin [link] [comments]

Ethereum 2.0 Glossary

Ethereum 2.0
Ethereum 2.0 (Eth2) is the next phase in the evolution and improvement of the public Ethereum network. With a shift from a Proof of Work to Proof of Stake consensus algorithm, Ethereum 2.0 will result in improved scalability, security, and usability for the network. Eth2 will go live in multiple phases, beginning with Phase 0 in 2020.
Proof of Work
Proof of Work (PoW) is a class of consensus algorithm that rewards miners who expend computational energy to solve mathematical problems to propose new blocks. With PoW, the probability of mining a block and thus receiving block rewards is a function of how much computational energy (known as hash power) a miner expends. Popular blockchains such as Bitcoin, Ethereum (1.0), and Litecoin are all Proof of Work blockchains.
Proof of Stake
Proof of Stake (PoS) is a class of consensus algorithm that selects and rewards validators as a function of a validator’s economic stake in the network. Unlike PoW, the probability of creating a block in a PoS network is not a result of hash power from burning energy, but rather the result of economic value-at-loss. Proof of Stake will be the consensus mechanism that Ethereum 2.0 uses to maintain the network. Unlike Proof of Work networks, Proof of Stake networks can achieve finality.
Staking
Staking replaces mining as the consensus mechanism in Proof of Stake blockchains. A stake is a fixed amount of funds that are ‘committed’ to a blockchain by a validator in order to participate in block creation and attestation. On Ethereum 2.0, validators will stake 32 ETH to the network and will be rewarded in ETH for their effort. If an ETH holder does not have 32 ETH, they may elect to use a staking pool to participate in Ethereum 2.0. Validators that break the rules of the network are subject to slashing of their stakes.
Validator
A validator is an actor on Ethereum 2.0 who proposes and attests new blocks on the network. In Proof of Stake, a validator stakes 32 ETH in order to participate in maintaining the network. If a validator is chosen to attest the next block, they are rewarded in ETH as a percentage of their stake. Conversely, validators who do not perform their duties––if they are offline, for example––receive penalties, or slashes, in the form of small amounts of ETH subtracted from their stakes.
Phase 0 of Ethereum 2.0
Phase 0 is the first upgrade to the Ethereum blockchain, and marks the first stage of Ethereum 2.0. Phase 0 is the launch of the beacon chain. Phase 0 will exist only to implement the Proof of Stake consensus mechanism by managing the list of validators. It will not offer other blockchain features such as shard chains or execution: in short, participants won’t be able to make transactions or call smart contracts on Eth2 yet.
Beacon Chain
The beacon chain stores and manages the registry of validators, and will implement the Proof of Stake consensus mechanism for Ethereum 2.0. The beacon chain will go live in Phase 0. The original Ethereum 1.0 PoW chain will continue to run alongside the new Ethereum PoS chain, ensuring that there is no break in data continuity.
Deposit Contract
The Ethereum 2.0 deposit contract will be released before the beacon chain goes live in Phase 0. In order to register as a validator on the network, a user must generate Ethereum 2.0 keys by making a one-way deposit of ETH into the deposit contract that will be live on the Eth2 Launchpad, hosted by the Ethereum Foundation.
Staking Provider
Staking providers offer services––such as staking-as-a-service and/or staking pools––that stake funds and create, propose, or vote on blocks added to the blockchain on behalf of token holders. Staking providers help offload the technical burden of maintaining an online validator and/or reduce financial barriers to participation for participants.
Staking-as-a-Service
Staking-as-a-service tools with offload the technical efforts of running one own’s validator node by allowing an individual with 32 ETH to select which client they wish to use to remotely run a node and stake their funds.
Staking Pools
In order for an individual to become a “full” validator on Ethereum 2.0, they must stake 32 ETH. Should a user be unwilling or unable to stake 32 ETH, they may elect to send fewer than 32 ETH to a staking pool, which will combine the funds of others and stake on their behalf. Pool participants will receive rewards as a percentage of their contribution.
Phase 1 of Ethereum 2.0
Phase 1 is the second upgrade to Ethereum 2.0, following Phase 0 in 2020. The primary improvement of Phase 1 is the integration of shard chains to improve scalability.
Sharding / Shard Chains
Sharding is a form of database partitioning, also known as horizontal partitioning, wherein large databases are divided into smaller, more manageable clusters to reduce data burden and improve scalability. On Ethereum 2.0, sharding will take the form of 64 chains running alongside the beacon chain, increasing overall throughput and scalability.
Phase 1.5 of Ethereum 2.0
Phase 1.5 is a term being used to describe a period during the Phase 1 upgrade where the Ethereum 1.0 and Ethereum 2.0 blockchains are merged. After Phase 1.5, the Ethereum 1.0 chain will run as a shard of the Ethereum 2.0 PoS blockchain. This will be the moment when the full functionality of the Ethereum 1.0 chain – including the use of ETH – will become functional on Ethereum 2.0 without risking a break in data consistency.
Phase 2 of Ethereum 2.0
Phase 2 is the third phase of Ethereum 2.0, following Phase 0 and Phase 1. This phase is currently less clearly defined than the preceding two phases, but it will involve adding ether accounts, enabling transfers and withdrawals, implementing cross-shard transfers and contract calls, building execution environments so that scalable applications can be built on top of Ethereum 2.0, and bringing the Ethereum 1.0 chain into Ethereum 2.0 so that Proof of Work can finally be turned off.
Finality
Proof of Stake blockchains can offer finality. After a small period of time, a block is declared final, which means that it can never be changed. All the transactions in that block and all previous transactions are permanent, immutable, and guaranteed forever. Proof of Work chains offer much weaker guarantees around finality.
Slashing
Ethereum 2.0’s consensus mechanism has a couple of rules that are designed to prevent attacks on the network. Any validator found to have broken these rules will be slashed and ejected from the network. Slashing means that a significant part of the validator’s stake is removed: up to the whole stake of 32 ETH in the worst case. Validator software and staking providers will have built-in protection against getting slashed accidentally. Slashing should only affect validators who misbehave deliberately.
submitted by ConsenSys_Official to ConsenSys [link] [comments]

TOP 3 Anonymous Cryptocurrencies

TOP 3 Anonymous Cryptocurrencies
Last year Bitfury’s multidisciplinary Blockchain specialists announced the possibility of revealing the identities of more than 16% of all owners of Bitcoin addresses. Several years ago, a team of CryptoLux developers, having conducted a study of transaction privacy on the Bitcoin network, concluded that 60% of all addresses can be deanonymized. Summarizing all this, it’s worth highlighting three existing methods that can successfully deanonymize private transactions.

Clustering

The easiest way to cluster (link Bitcoin addresses) is by analyzing transactional networks. In other words, this is a method that allows finding several inputs combined in one transaction. The second clustering method is “distribution analysis”. It allows calculation the percentage of cryptocurrency at the certain address that comes from another specific address and it becomes clear whether these addresses are connected by one direct transaction or a chain of transactions or not.

Graph analysis

It consists of quantitative and temporal analyzes. Quantitative analysis studies not certain transactions, but amounts. Time analysis tracks specific periods.

Memory Pool Method

When a transaction is made through the user’s wallet, the input nodes send information about the transaction to the Blockchain network. The purpose of this method is to identify the set of input nodes through the wallet and the user. In this case, the IP address of the client can be associated with its transactions. There are certain private cryptocurrency-leaders which are popular and trusted among users. Using one feature-privacy, they have different ways of functioning.

Basic principles of work: anonymous cryptocurrencies (Monero, Dash, Zcash)

Monero

The platform focuses on privacy and decentralization. The coin uses three levels of protection:
• Ring signatures, that hide the origin of the sender by mixing the user’s address with the addresses of other group members. • Ring confidential transactions, which hide the amount of the transaction. • Stealth addresses, that allow a user to hide the recipient’s address.
Such way guarantees the privacy of the sender and the recipient. Monero can be bought on Poloniex, Bitfinex, Livecoin, and Kraken crypto exchanges. It is possible to store Monero via an online wallet. More secure is its computer wallet. Due to its privacy, the popularity of the coin is expected to grow, so it makes sense to add a coin to an investment portfolio.
Advantages
• Increased privacy. Cryptocurrency is suitable for those who are afraid of deanonymizing network transactions. • Unlimited and difficult mining. • It takes less time to find blocks. • Resistance to the centralization of mining capacities.
Disadvantages
• Resources. All currency protection technologies require impressive machine performance for normal operation. The Monero block size is constantly growing, and this requires additional resources of network participants. • The popularity in the dark web leads to problems in working with regulatory authorities, exchanges often delist it. Speaking of reputation, Monero’s reputation is far from the best. The coin is often used on the dark web as payment for various illegal services. It happens to almost all crypto coins that provide privacy. • Large transaction sizes. Since Monero Blockchain is five times larger than the Bitcoin Blockchain in terms of one transaction. • Problems with scalability.

Dash

The Dash platform is a classic decentralized Blockchain-based payment system and the most technologically advanced cryptocurrency. It implements multi-off-chain money transfers without loss of reliability and overall security of the Blockchain. Its confidentiality is rather an additional option that can be used optionally. In the case of anonymity, it is possible to send a hidden transaction, but at a more expensive cost, which also requires additional time. Dash developed a hashing algorithm with eleven cryptographic functions-X 11 for the first time. The coin developers have released apps for other platforms. Today it is possible to use Dash for IOS, Zeal for Linux, LovelyDocs for Android and Velocity for Windows.
As well known, the CoinJoin is an anonymization method for crypto transactions, which is used by Dash as an improved version called the PrivateSend. Its mixing sessions are limited to 1,000 DASH for each session and will require multiple mixing sessions to anonymize a large amount of money.
Advantages
• High transaction speed. It is achieved via InstantX technology, which enables the confirmation of operations in less than 4 seconds. • Law transaction fees. • Energy consumption. Unlike Monero, it does not require a lot of power or high commission costs.
Disadvantages
• “Transparency” of the network. Without triggering the “mixing” mechanism, the directions of transactions and their balances are publicly visible to everyone. • Lack of proper cryptographic technologies that provide privacy, but can provide a sufficiently high level of protection. • Transaction visibility to the founders and the team.

Zcash

An open-source decentralized cryptocurrency that provides users with maximum privacy. Zcash is the first private cryptocurrency, using cryptographic protocol zk-SNARKS, a zero-knowledge security layer. It allows users to make hidden and open transactions.
Mathematically guaranteed privacy is something cryptocurrency can not be proud of. This fact makes the currency specific. All Zcash coins are identical, it means that interchangeable coins do not contain information about past use created. In this regard, the connection of coins with their history on the Blockchain is broken, which makes them universal and identical to each other. Zcash blocks are generated 4 times faster than Bitcoin. The currency trades on Huobi, Bitfinex and Binance exchanges, and after purchase, it can be stored on the exchange’s internal wallet, as well as transferred to Jaxx, Cryptonator and Coinomi multi-currency wallets. Coins can also be stored on hardware wallets like Ledger and Trezor.
Advantages
• Privacy. Since no information except the time stamp, is recorded in the Blockchain, transactions cannot be tracked, and the identity of the sender and recipient is almost impossible to establish. • Interchangeability. Due to interchangeability, all coins have a “clean” history. This means that it is practically impossible to determine which transactions coin was used. • Security. Lack of information about user keys, which protects user wallets and the network.Mining energy efficiency. Zcash mining hardware consumes less electricity than Bitcoin mining ASICs. • The difficulty of mining. Zcash is beneficial for those who want to get coins for block creation. Bitcoin mining becomes more and more complicated, so miners cannot earn enough money via their computers with high capacity.
Disadvantages
• 6 users can decide to leave the transferred data completely open. • It takes a lot of calculations to complete a transaction. • Insecurity. There are fears that the system could be hacked, or users may accidentally open the data. • Legally ZCash is supported only by Linux, however, it provides users with wallets for other platforms: Jaxx, Ledger, Trezor, Trust, Zecwallet, Ibitcome, Exodus, Guarda, Coinomi, Cobowallet, and Bitgo.
Private cryptocurrencies are necessary for anyone who values the privacy and confidentiality of financial transactions. Privacy can generate more value, than danger, as Eric Hughes says: “Privacy is necessary for an open society in the electronic age. Privacy is not secrecy. A private matter is something one doesn’t want the whole world to know, but a secret matter is something one doesn’t want anybody to know. Privacy is the power to selectively reveal oneself to the world”.
submitted by Stealthex_io to StealthEX [link] [comments]

How to make a Raspberry Pi Bitcoin Mining Rig Amazing DIY Super Computer for Mining Bitcoin Raspberry Pi Crypto mining Rack. Super Cheap Bitcoin Mining PC Build - Part 1 - YouTube Raspberry Pi 4 Bitcoin Mining For 24 Hours! - YouTube

Supercomputers hacked across Europe to mine cryptocurrency. Confirmed infections have been reported in the UK, Germany, and Switzerland. Another suspected infection was reported in Spain. -Mining them. Mining is the process of verifying transactions in the blockchain. As the whole of the Bitcoin system is decentralised, every transaction is publically viewable within what is called the blockchain. This blockchain contains every bitcoin exchanged between users so, as there is no central server, it has to be self governed. This is ... Bitcoin Mining Hardware Guide The best Bitcoin mining hardware has evolved dramatically since 2009. At first, miners used their central processing unit (CPU) to mine, but soon this wasn't fast enough and it bogged down the system resources of the host computer. Miners quickly moved on to using the graphical processing unit (GPU) in computer graphics cards because they were able to hash data 50 ... How to mine bitcoin? Mining bitcoins is a relatively straightforward process. If you don’t wish to delve into the details or learn how to optimally configure your bitcoin mining hardware, you can easily just download bitcoin mining software, start it up on your computer, and you’re already mining bitcoin. The 21 Bitcoin Computer isn’t the typical USB Bitcoin miner. It does, however, plugin to your computer via USB. In terms of $ / hash rate, it’s not a very good choice. But since it’s still technically a USB miner we have included it in this list. If you’re not impressed, we don’t blame you! USB Bitcoin mining was only profitable when Bitcoin was in its early years. If you just want ...

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How to make a Raspberry Pi Bitcoin Mining Rig

Today i show how you can turn your 10 year old computer into a mining rig with a few simple steps! The parts that are already in an old computer can still be... Buy Raspberry Pi 4 Model B 4GB: https://amzn.to/2tlBfGW How to Setup a Raspberry Pi 4 Bitcoin Mining Rig w/ Bitmain AntMiner U3: https://youtu.be/dPWTSytzN7g... Amazing Super Computer for Mining Bitcoin, Mining LiteCoin, Best Dashcoin Miner Tools, Amazing Computer for Mining ecurency. Raspberry Pi 3 Super Computing Cluster Part 1 - Hardware List and Assembly - Duration: 24:04. ... How to make a Raspberry Pi Bitcoin Mining Rig - Duration: 9:43. Tinkernut Labs 306,706 views. 9:43 ... Free Computta Smart Miner WithDrawal PROOF Video Here: https://www.youtube.com/watch?v=38hzcGt-yUk _____...

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