IQMining - new generation of bitcoin mining » HYIP.com ...
IQMining - new generation of bitcoin mining » HYIP.com ...
Bitcoin Mining: Geld verdienen am PC - GIGA
We are your source for Bitcoin cloud mining – Bitcoin ...
Bitcoin Mining: Is it Actually Profitable?
If mining is unprofitable, why are people still doing it ...
Mine Bitcoins on Cloud Servers
If you know how to setup NiceHash on Linux, you can get it going on any cloud hosting provider. I would like to emphasise that normal cloud hosting servers will not work for this as they have no graphics cards. So you're better off using servers normally used for AI (artificial intelligence) or ML (machine learning) as both require GPU power. Another thing is, with cloud hosting such as Google or AWS, they charge you for what you use. So if you aren't careful, you could get charged well over a thousand dollars every month as Google & AWS will provide more computing/gpu power when your server is close to maxing out. This is done because nornally, people or companies that go with Google or AWS have the money to pay for it and usually never want their services to go down. If I ran a serivce on a pre-determined plan, like 30 GB ram, when it maxes out, server stops. When the server stops, my service stops which loses me money. With most cloud hosting companies, the servers will never stop and you can scale quite efficiently. Lastly, mining bitcoins as a hobby or as a job on cloud servers isn't profitable at all. You will end up spending more money on cloud hosting than you get in bitcoins. My advice? Don't try mining for bitcoins using NiceHash or anything on Google Cloud Platform using the free account which is breaching their Terns of Service. Create a few accounts with other hosting companies such as AWS, IBM, Oracle, Alibaba Cloud and use their free plans to test out mining bitcoins on cloud hosting. If you like it, use the free AWS EC2 instance you get (free forever with limited use) and mine away. Or look for other alternative cloud hosting companies that are a lot cheaper but gives the same results. Or better yet get an ASIC miner. It requires a bigger initial investment, but it will pay for itself in the long run.
Among the more frequently mentioned G+ alternatives at the Google+ Mass Migration community, and others, is MeWe with over 250 mentions. The site bills itself as "The Next-Gen Social Network" and the "anti-Facebook": "No Ads, No Political Bias, No Spyware. NO BS. It is headed by professed Libertarian CEO Mark Weinstein. As the site reveals no public user-generated content to non-members, it's necessary to create an account in order to get a full impression. I thought I'd provide an overview based on recent explorations. This report leads of with background on the company, though readers may find the report and analysis of specific groups on the site of interest.
Founder & CEO Mark Weinstein. Co-Founder & Chief Scientist, Jonathan Wolfe (no longer with company). Weinstein previously founded SuperFamily and SuperFriends, "at the turn of the millennium". Weinstein's MeWe biography lists articles published by The Mirror (UK), Huffington Post, USA Today, InfoSecurity Magazine, Dark Reading, and the Nation. His media appearances include MarketWatch, PBS, Fox News, and CNN. He's also the author of several personal-success books. His Crunchbase bio is a repeat of the MeWe content.
Sir Tim Berners-Lee: Inventor of the World Wide Web.
Jack Canfield: Legendary Founder, Chicken Soup For The Soul.
John Friedman: Founding Partner, Easton Capital.
Cullen Hoback: Director, Terms and Conditions May Apply.
Dianne Morrison: Partner, MorrisonMcNabb, LLC.
Colin Sebastian: Director, Equity Research/Internet, RW Baird.
Brett Shevack: CEO, Brand Initiatives; Former Vice Chair, BBDO.
Marci Shimoff: author, Happy for No Reason.
Sherry Turkle: Professor, MIT; author Alone Together.
Ownership & Investment
MeWe is the dba of Sgrouples, a private for-profit early-stage venture company based in Los Angeles, though with a Mountain View HQ and mailing address, 11-50 employees, with $10m in funding over five rounds, and a $20m valuation as of 2016. Sgrouples, Inc., dba MeWe Trust & Safety - Legal Policy c/o Fenwick West 801 California Street Mountain View, CA 94041 Crunchbase Profile. Founded: 2012 (source) Secured $1.2M in seed funding in 2014. 2016 valuation: $20m (source] Backers:
John Friedman, venture capitalist, founder & MD, Easton Capital, New York, NY.
Do you have friends still on Facebook? Share this link with them about Facebook wanting their banking information - tell them to move to MeWe now! No Ads. No Spyware. No Political Agenda. No Bias Algorithms. No Shadow Banning. No Facial Recognition.
MeWe provide several policy-related links on the site:
California Disclosures -- Do Not Track, 3rd-party cookies, and California Privacy Rights.
Your Identity: We protect it to the extent the law allows
Linking to Third-Party Sites: These are your decisions and responsibilities
Security: HTTPS and Encryption
Terms of Service
The ToS addresses:
Allowable Content and Acceptable Use
Who Our Services are For
User Content Ownership
Misuse of Usernames, Page names, Group names
Fake Accounts (pseudonyms allowed, misleading is not)
More on Spam
Our Commitment to Data Security
MeWe Content Data
MeWe Log Data
Your Data Portability
Deleting Your Account -- Right to Erasure
MeWe Secret Chat
MeWe Invitations and "Add Automatically"
Additional Policies for Pages, Groups, and Events Notifications of Requests for Account Information
Guidelines for Law Enforcement Seeking Customer Data (Worldwide)
Ownership In and To the Site and Services
Effective: November 6, 2018.
The FAQ addresses:
What is MeWe (emphasises privacy)
The Politics of MeWe ("absolutely no political agenda")
How can MeWe be free and make money? (additional services/freemium)
Which devices is MeWe available on? (Android, iOS)
What content can I share on MeWe (photos, videos, documents, voice messages, privacy mail, chats, gifs, memes, doodles)
What are some unique features of MeWe?
Who can see the posts I share?
Can I delete my MeWe account and is it easy to do this?
This emphasises that people are social cratures and private people by right. The service offers the power of self expression under an umbrella of safety. It notes that our innermost thoughts require privacy. Under "We aspire...":
MeWe is here to empower and enrich your world. We challenge the status quo by making privacy, respect, and safety the foundations of an innovatively designed, easy-to-use social experience.
Totalling 182 words.
Privacy Bill of Rights
A ten-item statement of principles (possibly inspired by another document, it might appear):
You own your personal information & content. It is explicitly not ours.
You will never receive a targeted advertisement or 3rd party content based on what you do or say online. We think that's creepy.
You see every post in timeline order from your friends, family & groups. We do not manipulate, filter, or change the order of your content or what you see.
Permissions & privacy are your rights. You control them.
You control who can access your content.
You control what, if anything, others can see in member searches.
Your privacy means we do not share your personal information with anyone.
Your emojis are for you and your friends. We do not monitor or mine your data.
Your face is your business. We do not use facial recognition technology.
You have the right to delete your account and take your content with you at any time.
There are a few mentions of MeWe in the press, some listed on the company's website, others via web search.
The following articles are linked directly from MeWe's Press page:
The page also lists a "Privacy Revolution Required Reading" list of 20 articles all addressing Facebook privacy gaffes in the mainstream press (Wired, TechCrunch, Fortune, Gizmodo, The Guardian, etc.). There are further self-reported mentions in several of the company's PR releases over the years.
Facebook Alternative MeWe Raises $5.2M, Los Angeles Business Journal (July 7, 2018) "The latest round, as well as MeWe’s total $10 million in fundraising, was predominantly backed by celebrity investors, such as author Marci Shimoff, Rachel Roy, and Lynda Weinman, founder of Lynda.com, which sold to Linkedin in 2015 for $1.5 billion. Jack Canfield, creator of the “Chicken Soup for the Soul” book series, also invested in MeWe."
Is building a Facebook alternative worth the effort? MeWe thinks soVentureBeat (July 5, 2018) "[T]here are still companies hoping to make their mark in the social networking realm with “Facebook alternatives.” One of those is MeWe, a “next-generation” social network that positions itself as the anti-Facebook: “Your private life is not for sale. No ads. No Spyware. No BS,” its website proclaims." Continues to mention "modest $5.2 million" funding round. Also a "sister product", MeWePRO, a Slack competitor.
Startup MeWe Launches Free, 'No Ads' Social NetworkeWeek (March 16, 2016) "MeWe, a new network engineered with its users' data privacy built in, is betting that a lot of people will say yes to both of those questions. The Mountain View, Calif.-based startup, whose parent company is Sgrouples.com, launched its freely available social network out of beta March 9 with more than 200,000 members already using it.... Sir Tim Berners-Lee, co-architect of the World Wide Web, found out about MeWe on his own and approached the company about getting involved."
Facebook Alternative MeWe closes $5.2M Series A Yahoo/PR Newswire (July 5, 2018). "The investment brings MeWe's total funding to $10 million, to support the engineering of MeWe and the enterprise version MeWePRO.... The company has relied on high net worth individuals for all of its funding including Lynda Weinman, founder of Lynda.com ...; Marci Shimoff, a #1 New York Times bestselling author ...; Rachel Roy...; and Jack Canfield."
Exactis Data Leak 2018: 340 Million Records ExposedInvestorPlace (June 29, 2018) "'Today's cookies can link your mobile phone to your laptop, to your home monitoring devices, and much, much more. Creepy? Scary? Orwellian? Yes, yes, yes,' Mark Weinstein, the privacy expert and founder of social media company MeWe, told MarketWatch. 'So imagine that Exactis, like Facebook, knows everything about you — really.'"
MeWe Raises $3M in FundingFinSMEs (March 9, 2016) "Sgrouples, Inc., the Mountain View, CA-based developer of MeWe, a social network with neither ads nor tracking, raised $3m in funding."
This section is a basic rundown of the user-visible site technology.
The site is not natively accessible from a mobile Web browser as it is overlayed with a promotion for the mobile application instead. Selecting "Desktop View" in most mobile browsers should allow browser-based access.
There are both Android and iOS apps for MeWe. I've used neither of these, though the App store entries note:
MeWe Android 4.4 rating (13.1k ratings). Permissions: Contacts (read), Location (approximate/precise), SMS (receive), Phone (read status & identity), Photos/Media/Files (read, modify, & delete contents), Storage (read, modify, or delete), Camera (take pictures/videos), Microphone (record audio), Device ID & Call Info (read status & identity), and numerous elements under Other.
Crunchbase cites 209,220 mobile downloads over the past 30 days (via Apptopia), an 80.78% monthly growth rate, from Google Play.
Either selecting "View Desktop" or navigating with a Desktop browser to https://www.mewe.com your are presented with a registration screen, with the "About", "Privacy Bill of Rights", "MeWe Challenge", and a language selector across the top of the page. Information requested are first and last name, phone or email, and a password. Pseudonymous identities are permitted, though this isn't noted on the login screen. Returning members can use the "Member Log In" button. The uMatrix Firefox extension reveals no third-party content: all page elements are served from mewe.com, img.mewe.com, cdn.mewe.com, or ws.mewe.com. (In subsequent browsing, you may find third-party plugins from, for example, YouTube, for videos, or Giphy, for animated GIFs.) The web front-end is nginx. The site uses SSL v3, issued by DigiCert Inc. to Sgrouples, Inc.
The onboarding experience is stark. There is no default content presented. A set of unidentified icons spans the top of the screen, these turn out to be Home, Chats, Groups, Pages, and Events. New users have to, somehow, find groups or people to connect with, and there's little guidance as to how to do this.
Generally there is a three panel view, with left- and right-hand sidebars of largely navigational or status information, and a central panel with main content. There are also pop-up elements for chats, an omnipresent feature of the site. Controls display labels on some devices and/or resolutions. Controls do not provide tooltips for navigational aid.
My Cloud - Seamlessly organize all your content in My Cloud; it's your personal cloud. My Cloud offers an interactive dashboard for you to control everything you’ve posted or shared - making it simple to delete or reshare.
Unique profiles - Be yourself, free from any tracking and spying. Customize your profile for every group you create or join.
Voice integration (on any or all content) - Post pictures, videos, or documents and include a voice message. Respond to a shared post or just chat. MeWe’s voice integration works for you and your contacts throughout the entire platform.
Universal tagging - This is a new, convenient way to sort and organize all the content you receive and share, making it easy to find everything, anytime.
Enhanced permission control (patent issued) - Manage permissions on a granular level and decide exactly who sees what. You can also remove yourself from the search directory, make yourself invisible to other members online, and much more.
Much More – join MeWe today and take a look inside! MeWe is the next-gen social networking experience designed for you to have fun, stay in touch, collaborate, organize, and simplify.
A key aspect of any social network is its community. Some of the available or ascertained information on this follows.
Weinstein claims a "million+ following inside MeWe.com" on Twitter. The largest visible groups appear to have a maximum of around 15,000 members , for "Awesome gifs". "Clean Comedy" rates 13,350, and the largest open political groups, 11,000+ members. This compares to Google+ which has a staggering, though Android-registrations-inflated 3.3 billion profiles, and 7.9 million communities, though the largest of these come in at under 10 million members. It's likely that MeWe's membership is on the whole more more active than Google+'s, where generally-visible posting activity was limited to just over 9% of all profiles, and the active user base was well under 1% of the total nominal population.
MeWe do not publish active users (e.g., MUA / monthly active users) statistics.
MeWe is principally a group-oriented discussion site -- interactions take place either between individuals or within group contexts. Virtually all discovery is group-oriented. The selection and dynamics of groups on the site will likely strongly affect user experience, so exploring the available groups and their characteristics is of interest. "MeWe has over 60,000 open groups" according to its FAQ. The Open groups -- visible to any registered MeWe user, though not to the general public Web -- are browsable, though sections and topics must be expanded to view the contents: an overview isn't immediately accessible. We provide a taste here. A selection of ten featured topics spans the top of the browser. As I view these, they are:
Health & Fitness
Cars & Motorcycles
Fashion and Beauty
Specific groups may appear in multiple categories. The top Groups within these topics have, variously, 15,482, 7,738, 15,482 (dupe), 7,745, 8,223, 8,220, 1,713, 9,527, 2,716, and 1,516 members. Listings scroll at length -- the Music topic has 234 Groups, ranging in size from 5 to 5,738 members, with a median of 59, mean of 311.4, and a 90%ile of 743.5. Below this is a grid of topics, 122 in all, ranging from Activism to Wellness, and including among them. A selected sample of these topics, with top groups listed members in (parens), follows:
Activism: QAnon+++ (2,572), PATRIOT PREPPERS USA (2,430), Deplorables Republic (2,48), The War Drummer (1,898), Patriots for a United America. (1894), Anonymous (1,700).
Alternative Energy: Reiki, Crystals, and alternative healing (2,114), 💜Starseeds & Empaths💜 (345), Living in Colour (365).
Alternative Lifestyle: Natural Healing and Home Remedies (3,045), Backyard Farming of All Things (2,696), WeTheSheeple (2,251).
Alumni Connections: Google Plus Refugees (271), Google+ Refugees (186), Frog Pond (156), Carlsbad NM High School alumni (57).
Animals: I Love My Dog (4,421), Pussy Shots (4,619).
Astronomy: Spherical Earth Truth, Flat Earth is Wrong (278), Nibiru, Nemesis, Hercolobus, The Destroyer (187).
Biology: Trees (344), Field of Birds (104), Patriots of Australia (51).
Personal Improvement: For Introverts. (1,214), Anarchy, Philosophy, Psychology, and Spirituality (679), Positive Affirmations (447).
Philosophy: In5d Esoteric Metaphysical and Spiritual Database (1,764), Thought Bouncing (1,137), Obtectivists - Galts Gulch - Ayn Rand fans (561).
Poetry: Dead Poest (1,407), Palacio de Poetry (451), Poets Corner (412).
Politics: Donald J. Trump 2016 - Present (11,486), The Conservative's Hangout (8,345), Qanon Follow The White Rabbit (5,600), Drain The Swamp (4,978), Libertarians (4,528), United We Stand Trump2020 (4,216).
Pop Culture: The Loftus Party (116), The Walking Dead: The Stalking Dead (100), Tyler, Texas (71).
Privacy: Join the Open/Privacy Movement (3974), Kingsport tn gun trader (1,157), Safer Computing (555).
To be clear: whilst I've not included every topic, I've sampled a majority of them above, and listed not an arbitrary selection, but the top few Groups under each topic.
Google Plus expats (1,862)
Google+ Refugees (186)
G+ Refugees (101)
my Google+ expatriates
The Google Plus expats group seems the most active of these by far.
It's curious that MeWe make a specific point in their FAQ that:
At MeWe we have absolutely no political agenda and we have a very straightforward Terms of Service. MeWe is for all law-abiding people everywhere in the world, regardless of political, ethnic, religious, sexual, and other preferences.
There are 403 political groups on MeWe. I won't list them all here, but the first 100 or so give a pretty clear idea of flavour. Again, membership is in (parentheses). Note that half the total political Groups memberships are in the first 21 groups listed here, the first 6 are 25% of the total.
Donald J. Trump 2016 - Present (11486)
The Conservative's Hangout (8345)
Qanon Follow The White Rabbit (5600)
Drain The Swamp (4978)
United We Stand Trump2020 (4216)
The Right To Self Defense (3757)
Alternative Media (3711)
Hardcore Conservative Patriots for Trump (3192)
Bastket Of Deplorables4Trump! (3032)
Return of the Republic (2509)
Infowars Chat Room Unofficial (2159)
Donald Trump Our President 2017-2025 (2033)
Berners for Progress (1963)
Sean Hannity Fans (1901)
The American Conservative (1839)
I Am The NRA (1704)
Tucker Carlson Fox News (1645)
We Love Donald Trump (1611)
MAGA - Make America Great Again (1512)
news from the front (1337)
Basket of Deplorables (1317)
Payton's Park Bench (1283)
Convention of States (1282)
Britons For Brexit (1186)
MoJo 5.0 Radio (1180)
MeWe Free Press (1119)
The Constitutionally Elite (1110)
WOMEN FOR PRESIDENT TRUMP (1032)
AMERICANS AGAINST ISIS and OTHER ENEMIES (943)
#WalkAway Campaign (894)
ALEX JONES (877)
The Lion Is Awake ! (854)
We Support Donald Trump! (810)
The Stratosphere Lounge (789)
TRUMP-USA-HANDS OFF OUR PRESIDENT (767)
Official Tea Party USA (749)
Mojo50 Jackholes (739)
Yes Scotland (697)
"WE THE DEPLORABLE" - MOVE ON SNOWFLAKE! (688)
Judge Jeanine Pirro Fans (671)
Ted Cruz for President (650)
No Lapdog Media (647)
Q Chatter (647)
Daily Brexit (636)
Tucker Carlson Fox News (601)
The Trumps Storm Group (600)
QAnon-Patriots WWG1WGA (598)
100% American (569)
Ladies For Donald Trump (566)
Deep State (560)
In the Name of Liberty (557)
Material Planet (555)
Trump NRA Free Speech Patriots on MeWe Gab.ai etc (546)
Magna Carta Group (520)
Constitutional Conservatives (506)
Question Everything (503)
Conspiracy Research (500)
Bill O'Reilly Fans (481)
Conservative Misfit's (479)
Canadian politics (478)
HARDCORE DEPLORABLES (454)
Tampa Bay Trump Club (445)
UK Politics (430)
Bongino Fan Page (429)
Radical Conservatives (429)
RESIST THE RESISTANCE (419)
The Deplorables (409)
America's Freedom Fighters (401)
Politically Incorrect & Proud (399)
CONSERVATIVES FOR AMERICA ! (385)
Political satire (383)
RISE OF THE RIGHT (371)
UK Sovereignty,Independence,Democracy -Everlasting (366)
The Patriots Voting Coalition (359)
End The Insanity (349)
Coming American Civil War! (345)
Constitutional Conservatives (343)
United Nations Watch (342)
A Revival Of The Critical Thinking Union (337)
The New Libertarian (335)
Libertarian Party (official ) (333)
DDS United (Duterte Die-hard Supporters) (332)
American Conservative Veterans (331)
America Needs Donald Trump (326)
The UKIP Debating Society (321)
Coalition For Trump (310)
FRIENDS THAT LIKE JILL STEIN AND THE GREEN PARTY (292)
2nd Amendment (287)
Never Forget #SethRich (286)
Green Party Supporters 2020 (283)
It seems there is relatively little representation from the left wing, or even the centre, of the political spectrum. A case-insensitive match for "liberal" turns up:
104: Conservatives Against Liberal Beliefs C.A.L.I.B (273)
184: Progressive and Liberal Politics (119)
301: Liberalism is a Mental Disorder (33)
302: Resistance Against Liberal Socialism (33)
358: NOT For Liberals (17)
367: Drinking Liberally Houston (14)
400: Stephanie Miller's Sexy Liberal Army (6)
Mainstream political parties are little represented, though again, the balance seems skewed searching on "(democrat|republic|gop)":
391: Saving The Republic: Video News & Opinion (8)
The terms "left" and "right" provide a few matches, not all strictly political-axis aligned:
7: The Right To Self Defense (3757)
80: RISE OF THE RIGHT (371)
150: POLITICS ON THE LEFT (156)
157: 1st Amendment Rights Protected By The 2nd Amendmen (141)
209: On The Left With Jeremy Corbyn (84)
262: Eyes-Left Labour & PP - Social Media (49)
300: Gather Left (33)
385: Defend Washington State Gun Rights (9)
390: Left Coast Conservatives (8)
Socialism and Communism also warrant a few mentions:
121: Revolutionary Socialists United (204)
216: Socialist Thought (79)
220: Stories Of Communism (76)
262: Eyes-Left Labour & PP - Social Media (49)
288: Snuggly Wuggly Socialists (38)
302: Resistance Against Liberal Socialism (33)
And there are some references to green, laboulabor parties:
97: FRIENDS THAT LIKE JILL STEIN AND THE GREEN PARTY (292)
100: Green Party Supporters 2020 (283)
262: Eyes-Left Labour & PP - Social Media (49)
320: Green Party of Ohio Issues & Discussion Group (29)
Whilst there may not be a political agenda, there does appear to be at least a slight political bias to the site. And a distinctive skew on many other topical subjects. Those seeking new homes online may wish to take this into account.
Various typos and tagging corrections. 2018-11-29 - 30
Added G+MM references count for MeWe to lede paragraph. 2018-12-2
Last week, I made two predictions: that there was no way the price could remain stable past this week, and I believed that the rise would begin on Wednesday as the insiders started trading based on what they knew. By now, it appears clear that the insiders know the exact opposite of what I predicted: that the bids are not going to be astronomical, so one of those predictions may be incorrect, assuming that there isn't a huge rally by the evening. Many people say that markets in bitcoins are random. On the contrary, I believe that everything can be predicted, given enough information. Things only seem random when one does not have enough information to determine why they work that way. This maybe goes all the way down to the quantum level as well; scientists used to think that things like quarks randomly appear and disappear, but many now suspect there is probably a lower level which we do not yet understand. When the price starts to fall without any news, there has to be a reason for that. The last time it happened, we later discovered that some people knew of the auction before it was announced to the public. This time, we don't yet know what we don't know. You should always be concerned when something is happening and there does not appear to be a cause for it. There are definitely people who know more than we do and who are acting upon it. There is a guy in /bitcoin who is going to buy $90k in bitcoins. I wish him luck, but there is no way I would be buying today. There is plenty of money to be made after either the big crash, or once there is confirmation this is temporary.
A crisis moment approaching
I commented on this issue yesterday, but I think it is worth discussing again because it is important enough. What is approaching is a crisis moment for bitcoins, and for cryptocurrencies in general. For as long as I can remember, which is years, all the bitcoin crashes have been associated with external events that did not affect the underlying fundamentals. For example, Mt Gox's incompetence caused several crashes. The Chinese government made laws and took actions to try to kill bitcoins (and failed). The US government issued the initial FinCEN regulations 15 months ago and there was a lot of consternation. Before that, there were high-profile thefts of bitcoins from poorly-designed wallet services, and so on. The only event affecting the fundamentals was the unintentional hard fork in March 2013, but the fork was corrected in hours and was a one-off event that people knew would not repeat. Now, however, there are a lot of danger signs with the acutal protocol and user behavior that are converging, and there are things that people should actually take notice of. First, we have the issue of transaction volume stalling out. I don't agree with those who say that we can chalk it up to Coinbase. Even if Coinbase was processing transactions off-chain, the reason they are doing that is because the 1MB transaction limit is forcing them to because of the fees. Second, we see thousands of merchants adopting bitcoins, and the number of consumers spending them is very low by orders of magnitude (and there are many wallet services, including Coinbase, that make it easy to spend bitcoins now). Third, as I said yesterday, people are still going to Western Union and paying 10% extra, which is a lot of money. We are talking about the same market as the extreme couponers who are willing to spend a day cutting out coupons and searching websites to save $30 on their grocery bill. Yet, these people obviously have no qualm about paying $50 for a $500 money transfer. You can't argue that the reason is "it's too difficult" to use bitcoins - while the bitcoin experience can be made simpler, people who have lots of time, and the will to save money will figure out a way to cut out a few bucks from bills wherever they can. They are not doing that. Other issues that can be examined include the low number of Google searches for bitcoins (the tiny spike the last few days doesn't indicate a recovery). Finally, look at the devastating revelation in /bitcoin that gavinandressen is the only developer actively working on protocol upgrades at the moment. This means more than any of the other reasons to be concerned. It shows that the big payment processors are not willing to significantly invest in protocol development, and it also shows that there could be beauacracy involved that is preventing development from moving forward. Remember, people problems kill projects, not technical ones. There are many pressing issues and bitcoin risks falling behind to another project like NXT, which as I said before, could cause cryptocurrencies to be viewed as a "flavor of the month" instead of a world currency.
Exponential growth is required for the success of bitcoins
Now that I've made the case that we are approaching a crisis moment, let's examine the scenario that could unfold if the auction turns out to have below-market prices. This would turn into a negative feedback loop. Every day the price falls below the auction, the asks in the market fall, and therefore the bids at the auction are going to be even lower. Then, the low price at the auction would signal that Wall Street is not that faithful in bitcoins, and there would obviously be a crash. I believe such a crash would break below the bubble cycle, signaling an end to the traditional pattern of exponential growth (at least for the short-term). Because this crash would be caused by the fundamentals (lack of rapid adoption), rather than some temporary issue like the Chinese government futilely trying to stop free expression, recovery would be slow. The problem is that, unlike several years ago, there is a lot of money invested in the system. When bitcoins were worth $2, nobody was working full-time on them and it was a hobby. These people could afford to continue developing services regardless of the price. Now, there are corporations like Coinbase that have large staffs and million-dollar budgets. These companies could not sustain a prolonged downturn in price and usage. There are also many companies that are developing products that require a higher price, and the VC money will only last for so long. If there is a period where exponential growth stops, then the danger is that companies that were previously expanding suddenly find themselves overstaffed and unable to meet their bills. Layoffs would cause experienced people to move to other industries and never come back, such that if there is a recovery later, new developers need to be hired and they need to learn the protocol from scratch. At the current time, bitcoins cannot sustain a period of prices at levels of the previous cycle.
Mining is also at a crisis point, independently
Miners are coming online at the highest rate ever, with the difficulty expected to approach 18b by the end of the week. That would be the single largest difficulty increase in history. Why people are turning on mining equipment at current prices doesn't make much sense to me, as there is simply no way that all of this equipment is profitable. This is clearly a "mining bubble," where many people spent millions on mining equipment that is not profitable even before it is turned on. I suspect that, even if the auction turns out in the positive, there is going to be a mining crash soon. The difficulty rises are simply not sustainable, even if the price were to rise a lot overnight. We already see a lot of mining companies being sued and under investigation; the next phase of this mining bubble unwinding will be farm operators who overinvested and who declare bankruptcy as the difficulty continues to increase 40% every two weeks. This isn't really relevant to the network's usefulness or to its future, but it is bad news for people who are invested in mining. If I had a cloud hashing contract or owned equipment, I would be selling it immediately, regardless of what I thought was going to happen at the auction.
Days until the auction: 2
Days until July 24: 29
Price to break the lower boundary (according to moral_agent): $540
If you are new to cryptocurrency or are interested in learning more about the technology behind the increasingly popular field, then this article is for you. Some of the terminology and concepts in the cryptocurrency world are very foreign to most people, and as a wise person once said, “you don’t really understand something if you can’t explain it to your grandmother.” So let us try to make sense of mining crypto currencies in the simplest terms, along with how a service like MinerGate can facilitate your goals from a simple hobby to larger investment-oriented results. First, ask yourself why the world needs banks. Civilization needs a place where money can be stored safely, where transactions can be recorded by an honest and independent 3rd party, and a place where money can be invested or borrowed in loans or other credit. That has worked out pretty well for bankers, hasn’t it? Today, banks own professional sports arenas all over the world and control huge sectors of global finance from construction to the arts. There is a lot of profit in banking, and very little of that goes to you and me, the little guys. But imagine if we no longer needed banks. Imagine if all those grand profits no longer went to the 1% of top earners in the world, but instead was shared more evenly across the 99%. That’s the idea behind cryptocurrency: basically, we don’t need powerful banks holding all the money anymore now that blockchain technology is here. Let us next work with some foreign sounding terms. Imagine that the “Blockchain” is basically an excel spreadsheet file on your computer with some data in it. Except that it isn’t just on your computer, it is on a million computers across the globe, and it isn’t just “some” data, it’s all the financial transactions on record for that particular currency—and encrypted so no trusted 3rd party is needed. If a hacker wanted to hack your computer and change the data in your file to reflect all of the money in your checking account going into their account, that would be pretty easy. But when that file is on a million computers, the hacker would have to hack a million computers all at once to do the same thing—and that it nearly impossible. It is certainly more impossible that it would be to hack a bank’s computer system! So you have this account data that is shared across all these computers, but so what? Well, that is where “mining” comes into play. Mining is just a funny word used to describe participation in the financial record-keeping with a high-powered computer. When I decide to mine a particular currency, what I am actually doing is connecting my super-fast (often super-expensive) computer to the cryptocurrency network and allowing that network to use my computing power to run the transactions. There is a lot of technical jargon that happens here, and we will keep it simple. Computational challenges arise from the heavy burden of encrypting all the financial record-keeping. All you need to know is that “mining” is nothing more than applying your personal computing power to solving those computational challenges. Mining rewards are a financial incentive to users who provide the fastest, most powerful computers. The faster and more accurate the computer you provide, the greater your reward in crypto currency coins. MinerGate is a great way to do this, where users can join a mining “pool” that combines computational resources among a group of users who share the rewards together. Many currencies are reasonably profitable today when mined in a good pool like Minergate with even a modest computer CPU and GPU (examples include the Intel i5 or the AMD RX series). Why not download MinerGate and put that computer to work for you no matter how modest the return? You never know how much those coins will be worth in ten years, do you? Remember when we said those super-fast computers are often super-expensive? Well, that is where cloud-mining services like MinerGate’s program come into play. The mining analogy really does fit well in this case. Imagine you are a prospector in California back in the 1800s during the Gold Rush days. You go out into the mountains with your mule and pick axe and find a spot. You start digging and get lucky. There’s a vein of gold right there. So you go back into the nearest town with your mule loaded down with ore, ready to cash in, buy more supplies, and head back out to dig up some more. What’s going to happen next? You think you’ll be going back out alone, or will about 200 other prospectors follow you out? How will you protect your claim when the minute you ride back into town those other prospectors are going to “claim jump” all over your ore so when you get back, it is all gone? The answer back then was mining contracts where claims were protected by businesses who had experienced miners, security, lawyers, smelters, and payroll so they could share into claims and provide valuable services while sharing profits. That is much like what has happened in cryptocurrency with computing power. When people discovered that they could make money by participating in the mining system, a virtual arms race of computational power ensued to the point that now the machines go far beyond a desktop computer. MinerGate takes the pressure off users by procuring the expensive equipment and then leasing it under contract. This allows for excellent returns on investment over time without huge up-front costs that truly competitive mining hardware would require for coins like Bitcoin. MinerGate is also one of the most trusted names in cloud mining, as they make no wild claims of get-rich-quick or insane returns on investments. Instead, MinerGate’s cloud mining is an excellent way to profit from the rising market trend over time of cryptocurrencies like Bitcoin and Monero – plus Ethereum soon! No matter what your goals, experience level, or familiarity with cryptocurrency, MinerGate is a solution you can be comfortable with from start to finish. Whether you want to mine with your own hardware and MinerGate’s software, or if you want to start out with your own mining contract, MinerGate is a trusted partner that will help you achieve your goals by providing the services you need. Try out mining on your PC or mobile your self now
Short answer If people are incapable of estimating the correct number logically, the only method to the answer is by genetic algorithm where cloud wisdom hopefuly takes time to solve and volatility is inevitable. Long answer Believe it or not, the valuation of a currency-purpose asset is in fact much easier than the valuation of a stock. To be a currency-purpose asset, a somewhat universal valuation opinion must be among the mass. For a stock, on the contrary, one needs to evaluate many factors such as marketing/product/… and people have different opinions about the possible gain of a stock. Every asset has a production cost, the piece of paper of stock certificate has little production cost. For currency-purpose asset, the production cost is thought to be independent of W-questions such as "who produces this asset", "where is this asset produced", "how many sale a producer has done", …etc. It is this property that the so-called universal opinion is formed. Money is also supposed not to have capital gain like stocks such as "I will have a generous dividend next year", so there is indeed not a "calculate the present value of all future gain by having a stock" but a "global understanding of the cost to fake/rollback/cheat a trust" for currency-purpose asset. Let
K be the global energy power for bitcoin
T be 600 seconds
F the average block fee. Let's say it is 1.9977.
C(t0, t1) be the average block reward from t0 to t1. For convenience, t0 and t1 are described in term of 210000 blocks, currently we are around t=2.41 . Therefore C(0,1)=50, C(1,2)=25, C(0, 2.0)=37.5.
P be the cost for 1.0 coin
I be the initial fixed cost of the mining rigs per 1.0W. Because the number of rigs is proportional to the energy power, therefore reasoning the fixed cost per mining rig is the same as reasoning as if cost per 1W rig.
Story 1 Assume all miners calculate the production cost in the coming 8 years and users are not investors. Let's express price in real term so that weird fiat monetary policy has nothing to do with the following argument we shall focus on. The equation for cost of the production is 0 = KI + sum(KT - ( F+C(t, t+2)) * P, from t to t+2) Therefore P = K * (T + I/210000 * 2 )/(F + C(2.41, 4.41)). Note that C(2.41, 4.41)=7.4515 so the miner will sell at least at this price. A user, as a non-investor who never cares P, may buy the coin from the miner and sell the coin for a merchant service/goods who will adjust the service bitcoin-nominated price with P accordingly. For your curiosity, by current data, the P by Story 1 is 3.49444E+11 Joule. Is the Story 1 reallistic ? Not at all. What about a miner who is thinking to run the business till t1=3 only. Then C(2.41, 3)=12.5 and this miner can undercut other miners in Story 1. Every users, as non-investors, do not care any bit about P because the user will always need to commit the same real-term service price from the merchant. Being undercut means death, so all the miners will split the pricing logic so that two P numbers, one for time 2.41 to 3, the other for 3 to 4.41; for your curiosity, C(3, 4.41) = 5.3413 Story 2 As the miners competition settled down, the P is not constant any more; there will be two P numbers, one, being lower, for time 2.41 to 3, the other, being higher, for 3 to 4.41. Is the Story 2 reallistic ? Not at all. What about a user who starts noticing that the P will increase and being investors is a good deal. While this user may observe the increasing of P empirically but never logically understanding, knowing nothing about math and miners' plan, this user will speculate between market price of P; he might buy at 5000 and see it explode at 10000 and take profit at 6000 (in USD term) and has no idea the 5000 may be much lower than the correct number. Should the P is pricing at the correct number so that there is no room between the two P, speculators are gone and people are comfortable the stable price with store-of-value and media-of-exchange. Is the Story 2 realistic ? Not at all. What about a hobby miner wants to be investor too and starts mining from time 2.41 to 3 and never sell all the coins for users but only pay partially little for the electricity while price bullish and keep the rest coins as investment for himself after time 3 ? Story 3 Being also speculation. While other users investors may increase the volatility (mainly because being without fundamental knowledge but rather TA or market-sentiment orientated traders), this move will shrink the room between the two P and therefore decrease the volatility of P. So the ratio of time 2.41-to-3 miners to time 2.41-to-4.41 miners increases up to the two P are equal then no more new miners of such plan. Is the Story 3 realistic ? Not at all. What about there are miners/investors for all possible time frame t0 to t1 in the future ? Let
K be the permanent miners who plan to run forever.
Kt be the miners who will only run from time t to t+1. Therefore the total energy power from time t to t+1 is Kt + K
Story 4 Therefore, the only setting where no arbitrage for miners and investors is such that P=KT/F and the graph of (Kt + K ) / K is like this. We know T and F and the ratio of Kt/K, but what is exactly K ? No one really knows. K could be low or high, one can only guess by observation. We know the difficulty is proportional to hash rate and hash rate is proportional to Kt and K. So you can see the graph of difficulty to have a guess of K. Should the two graph looks similar, we know people are finally logical and feel delight. By the difficulty graph and miners' time frame to amortize fixed cost so that it can be averaged out, taking the current global hash as K and updating it as time goes by may be a good guess. For your curiosity, currently KT/F is 2.13007E+12 Joule. BUT. It is not logical to assume people are all logical. If people are never logical and never investors, a graph of KT/( F + C(t, t+1) ) which is increasing till KT/F shall resemble the graph of P. If some people are logical and some are not, the empirical graph will be hysterical around and between. I tend not to comment about pricing in public. But since I know wall street and I know what wall street knows, feeling sad about the mass, bear me. I thought these information could leak to the mass if there were future contracts after each halving date, but no luck for such contracts. Credit: not me. I knew this long after someone knew it.
Evan Duffield:“The instamine happened, there is no one disputing that fact. The crypto-community at large has no problem with this except a few who think it’s trying to be hidden in some way. In fact, I posted multiple times about the instamine, first in “The Birth Of Darkcoin” which is an account of the first few weeks of the launch and the mistakes that were made. Recently I also posted spoke about the Instamine in the video “Virtual Corporation”, which considers the concept that it might have been key to Dash’s success, which I believe now. It’s also important to note, I was working a very challenging day job while working on Dash in the first couple weeks. So I was putting out fires every night, keeping tabs on Dash during the day (while getting yelled at by my boss when he caught me a couple times). Eventually I quit when I got Dash stable enough to work on full time and decided I really wanted to explore what I could do with it. “
2 guys from Hawk Financial Group, Evan & Kyle, are asking on the Bitcoin Dev mailing list for "1 or 2 really good C++ programmer that is familiar with the bitcoin internals to help with a for-profit startup". They are planning to build a unique coin that is "not just a clone of the original Bitcoin code" but in stead "a merge-mined altcoin that will provide a very useful service to the whole crypto-coin ecosystem". They claim to have "detailed plans on how to implement it".
After the emission of almost 2 million coins, Evan said that "now that everything is stable, I'll be posting later about the vision of this project and milestones!". Up until this point, only the "X11 hashing algoritm" was a known feature. According to him, it was "time to move on to actually implementing what I set out to do".
Evan isn't acting alone, he had/has a team behind him right from the start. It wasn't a hobby. he had a plan to make a profit.
Evan had plans for his coin right from the start, but didn't release them until after the instamine
1.5 million coins were mined in the first 8 hours. Most of these coin ended up in his (and his friends) hands. It's very likely the 500k in the first hour were only mined by him with cloudhosting services.
He lowered the emission later on, to make his relative share of coins bigger.
How can this be all an accident (like Evan is always saying) and NOT be intentional? Evan was looking for c++ devs for a "for profit startup" at the end of 2013 for the launch of an altcoin. Question:
How can you make a profit by launching an altcoin (and be sure to be able to pay your devs)?
by premining and/or instamining.
How he did it is pretty easy:
telling people the release would definitely not be in the next couple of hours and after that do launch it a few hours later
buggy windows binaries
a "code error" creating 500k coins in the first hour, >1.5 million in the first 8 hours.
What I can tell is that there is an intense social life at CERN which I would call inbred: the community at CERN is somewhat special ... Long hours spent at the lab, sometime a geeky attitude, does not favor contacts outside CERN ... end result: I know a lot of people who have found their companion within the community. (TC)
CERN is an academic environment and we take lots of efforts to publish results, technical designs, etc. We do not do any military research. Therefore, there is few stuff being "classified". Sometimes, there is a period when we keep information internal until we are sure the results are correct. Thus, basically, you find only the "usual" classified stuff at CERN: payslips, medical records of our employees, passwords, financial information.
When we close the LHC after access, the access console beeps. when we send out timing events to synchronise the equipment, we have an announcer that speaks out a line, that recalls what happened.
For the rest, the control room is far from the equipment, so we don't really hear it... but colleagues told me that at the ISR (another accelerator at CERN), they could hear the beam being dumped with a low pitch boom :) (gp)
We are doing a lot of research which does not get onto the blogs/newspapers: we have published more than 100 scientific papers on major peer reviewed journals.
Such papers are all about measuring the way Nature works at fundamental level. Today this kind of fundamental research can only be carried out in laboratories like CERN and it is our role to exploit such tools to provide mankind with these measurement which could be the basis of the future 'revolution' in understanding the inner workings of Nature. (TC)
Common misconceptions are the widely advertised black-hole maker thing, but also the fear of us developing new dangerous 'stuff' (the fact that CERN is doing sub- nuclear research adds to the confusion). Another common misconception on the positive side is to think that we might develop the solution to the energy problems of the world. (TC)
Diversity of cultures and being able to work with some of the most brilliant minds has been ( and still is after having been at CERN for 28 years) one of the things I consider a unique feature of CERN. (tc)
Sure! Join CERN as a summer student (too late for this year, I fear) but what about 2015? You'll get hands-on at CERN: weeks of lectures in the morning by professionals, hands-on projects within different CERN groups on your favorite subject, and lots of networking and socializing in the evenings. Meet your peers from all over the world. Sign up here.
I love LEGO. When Google came around and was taking footings of the CERN Computer Centre for their Google Streetview, I had a chance to drop a few LEGO minifigs beforehand. Later we made a treasure hunt of it... Was quite fun. If you want to try yourself, go here. If you want to cheat, solutions are here.
It is a good question: the way we work is by theorist assembling the information that we , experimentalists, make into models. Such models besides explaining what we have already observed make also predictions which we try to verify ( the HIggs boson is a notable example). In terms of 'how often' this is the most common situation we are dealing in our daily research life.
There are many other questions ( like why there is an obvious asymmetry between matter and antimatter) where the model builders and the experimentalist are trying to bootstrap each other with continous progress in understanding.
And there have been times where experimentalists have surprised the theorists by discovering new particles which nobody had foreseen ( example the tau lepton) (TC)
As theorists, we are free to work on the projects we wish, depending on what we think more interesting or needed. Experimentalists however have also predecided projects to work on depending on the program and preiorities of the collaborations. We also have sometimes common projects between theorists and experimentalists. (nm)
Computer science is everywhere at CERN! The massive amounts of data collected by the physics experiment must be filtered, transferred and stored. "Big Data Analytics" is a good start here. High bandwidth networking another. Mass storage (>100PB/year) a third.
Within the CERN openlab we work with third parties on such research --- so if you want to fiddel with hardware come here.
If you love software design, there are lots of opportunities, too: developping applications to run the LHC, to serve our physicist community, etc.
In brief: Make your field of interest a hobby and sign up as a student with CERN! A good master is an excellent start, but hands-on experience you just can get on the job.
I've come to CERN for my master thesis in telecom engineering, as a technical student, I worked on optical links for CMS. I did also my PhD at CERN, in digital microelectronics. now I am hired as an applied physicist and work in the LHC control room. There is a very wide range of options here!
Q: What is the purpose of a firwall? A: To let traffic through. If we don't need to let traffic through, we would cut the cable...
We use a standard firewall configuration to control traffic. As we serve a world-wide community, there are hundreds of computing services open to the Internet: web servers, SSH gateways, Windows Terminal Servers, conference room booking systems, document stores, web mail servers, etc...
Like any other organization worldwide, these are permanently probed for weaknesses. We monitor this activiely and, so far, successful attacks (detected by us ;-) have been rare.
I love working here, the research and the international environment in particular. my schedule is messy when we have beam, as I take shifts in the control room. the rest of the time, it's normal working hours - which sometimes get extended in case of deadlines that come up.
I live, as many others, close by, so commuting is short (10 minutes). this June many of us are doing bike2work - so I biked in today, the weather is beautiful. my personal interests fit in well also. skiing is close by in between Swiss and French Alps, and the Geneva yoga festival is great too.
I can't wait to see the beam at high energy, early next year. on the accelerator side, we have a few things that might cause issues that we'll have to work on: electron clouds in the beam pipe, Unidentified Falling Objects, beam instabilities, … it'll be fun! (gp)
Finding new particles that could confirm the predictions of the theories I am working on! That will allow us to finally know what is the correct direction to go beyond the Standard Model of particle physics! (nm)
Today's fundamental research is based on tools which require investment (that has always been the case , but in the past this funding was at the level of individual research institutes or of national initiative). Today not even 'continental' investment can cope with the needs of fundamental research. So if we want to progress further there will be need of substantial investment. For example in the last 12 months it has been decided to exploit fully the potential of the LHC accelerator :in order to exploit the potential of the improved accelerator we will need improved detectors. These do not come for free ...
So yes, funding will be essential for fully exploiting what the LHC accelerator can tell us ( and that might be a lot ... as there a lot of unaswered questions like what is dark matter, why is our universe made of matter and so on ) (TC)
We have to measure all the Higgs properties as precisely as we can! We also have new models to go beyond the Standard Model of particle physics and there are active searches ongoing at CERN to look for new particles. (nm)
The field has been 'regulating' its market since ever: we have statistics showing that less than 40% of the PHDs formed in CERN experiments remain in the Academic/Research world. The rest find quickly their way into the 'outside' world. The main reasons we have identified for the popularity of our students are : not being afraid of trying to solve problems, no matter how difficult, ability to evolve in a multinational/multicultural environment, ability to work in large teams, being exposed to state of the art software/electronic techniques. (TC)
Some personal view: The World Wide Web created 25 years ago at CERN (WWW: “Let’s share What We knoW”) provided a global platform and unique opportunity for people to communicate, to collaborate and to share at unprecedented scale and speed. The accessibility and openness of the internet are crucial to enabling new ideas to flourish and compete with the long-standing traditions and to ensure that the evolution of the web continues to proceed at a pace limited only by our ideas. However, with this capability comes considerable responsibility with all of us – whether politicians, lawmakers, scientists or citizens – to preserve an open internet and a free web for the benefit of humankind.
Actually, I followed a typical CERN career-by-chance. I am educated physicist, turned into control system engineer, investigated security stances of control systems, and then joined the security team with what I learned. Most of the time, I coordinate implementations, provide guidance, and help people to make their products more secure. It's more facilitating and enabling than hard-core security. However, my team consists of white hats who know the techniques much better than I do :-)
At the LHC, from a beam dump to the next stable beams it takes at least 2 hours. then we keep the beams in collisions for up to 10-15 hours. then start over. at the experiments, they pack up data from the collisions for years. (gp)
There are many, and that's why we do research! A few examples: how to explain the matter-antimatter asymmetry. Or what is dark matter. Or are there more than 3 quark/lepton families? And many more! (nm)
The beam gets dumped whenever it is not interesting for physics anymore (and the operators decide to extract it), or whenever anything on the accelerator side goes wrong (and Machine Protection takes care of extracting it automatically).
By means of a special set of magnets, with very fast rise times, the beam gets extracted from the main ring to a special place, the beam dump itself, where it hits a huge block of graphite and scatters its energy.
Last updated: 2014-06-14 10:45 UTC This post was generated by a robot! Send all complaints to epsy.
Hey all! I am semi-new to Monero and am already running a full node. I am curious about mining on Monero and wanted to know how profit is compared to Bitcoin where you can expect to never come out ahead as a hobby miner. Side question: giving I am just an enthusiast, would it be better to do cloud mining for Monero, if this exists? Thanks.
Hello everyone! I'm thought I'd create a post as I'm trying to find some "unusual" investments to "expand my portfolio" - to use a phrase that makes my intentions sound a lot more fancy then they really are. Just a bit of background: I'm in my early twenties and live with my parents. I work full time and make around £1,000 a month after tax, maybe a little more if I'm lucky and work overtime. My non-negotiable expenses are a grand total of £32 a month (my phone bill), I also pay my parents a small amount of rent - £150 a month - to cover food and electricity. I also spend around £100-£200 a month on my credit card bill, where I keep around £400-£600 on there to build my credit rating. In total that leaves me with between £600-£700 a month free. For the most part £400 goes straight into an ISA, with a massive 1% interest, which every so often I'll dip into. At the moment I have £3,500 in there. The rest (£200-300) is for me to use on whatever I please. I also own around £1,000 in shares which I plan to hold onto for a fair while.Furthermore, I have some "passive" income with a bitcoin cloud mining contract, although it totals perhaps a profit of 25p a day which, again, I'm just going to let run and see what happens. I also own a very small online business, but I've only make one £5 sale in 6 months. So anyway, I've been looking around for some unusual investments, that aren't what you would probably call typical. I don't have any desire to buy more shares, bonds or invest in the FOREX markets so they're immediately out. I spend a little bit on gambling every month, so I've looked at maybe buying a share in of a horse (expensive/risky), a greyhound (upkeep) or even a very minor league football team (basically a money sink). But nothing has particularly taken my fancy. I have a budget of £1,000. I'm not too caught up with the ROI, but if it's something I can get stuck into then I'm all for high-risk since it could just become a hobby, albeit an expensive one. Just looking for something interesting where I could, in theory, make a little bit of money. After all, anything more then £10 is more then I'd get with my ISA! Thanks in advance!
I am a new miner, lots of ?? GHash.IO seems real good. P2P? Random ramblings. Plz help.
Hi guys, I am a "hobby miner" meaning I don't stare at prices or attempt to dissect line graphs and pie charts to max a profit from BTC/alt coins.. I have a 230 gh/s rig and just want to get 1 bitcoin (first goal :D) Anyways I have some questions and appreciate anyone who could take some time and answer them. 1) I am currently mining at ghash.io. I started with 238 gh/s at slushpool, then I switched it all to GHash.io for testing. It seems I make more BTC from GHash.io than slushpool. In addition, they award me another coin type for free basically (NMC which is wonderful) that i can exchange for BTC. Now I read about the 51% thing, but it seems the BTC return + all the perks at ghash.io make me not want to switch. Is there any other place that has all these perks that return BTC like ghash? I love ghashes website too so i would like to switch to a pool that has a nice web user interface. 2) p2p pools. In my cgminer it is easy to specify a connection to a pool, basically the stratum address, username, pw. Is it any different connecting to a p2p pool? How much more complicated? Im not the sharpest tool in the shed.. 3) regarding bitcoin, it seems there is a set amount of bitcoin that is currently in circulation, and will only ever be a set amount to be produced (i think i read the total amount of BTC will only ever be like 21 million or something).. I cant help but picture like 20 people/organisations owning 99% of the bitcoin and never trading it since it is so rare. How can Bitcoin succeed if so much could just be placed in someones vault? and what if someone mistakingly destroys 80% of it or something.. 4) I see uchangetip popup from time to time on the bitcoin reddit. How do they know where to send bitcoin to random people posting here. Do we have to post our public wallet address to get tips? If I want to tip someone, how do I find their address? 5) Do you guys "reinvest" mined BTC into cloud mining? Someone said something interesting at the ghash chat that "its better to have the BTC actually doing something (mining for you) then letting it just sit there". That seems like a logical stance.. Is it? Would you recommend it? Anyways I will stop there since I realize if I asked all the questions currently in my head it would fill an entire page. Thanks in advance fellow miners! :)
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