How to solo mine any Altcoin - Solo mining new and low ...

Latest block updates

They're coming in fast! Seems light a fight between ViaBTC and the anonymous mineminer pool ("MCPool") so far. The ticker name seems to be BCH - BitCoinCash. I'm updating this thread both on /BTC and /BitCoin.
Reply below if you want me to add more stats to each block!

Block difficulty

The more miners there are on the network with more power collectively behind them in pools, the harder blocks have to be to solve, so difficulty increases over time. BitCoin has a built in mechanism where difficulty will drop if no blocks are mined in a certain (long) amount of time. This BCC fork has been modified so that if less than 6 blocks have been mined in the past 12 hours, difficulty drops (or if hash rates drop to 1/12th of their former rate - toinewx).
This means at the current rate, we will not see a difficulty drop. This could be good or bad depending on the groups mining them motives are - do they want to lock everyone else out difficulty wise as they are pushing nowhere near as much power or are they enthusiasts supporting the new chain? Time will tell.

Links

I have compiled here various useful links, resources and threads to do with the split and BCH.
Reddit links are np (non participation) but should you go over to the other sub (/btc /bitcoin or vice versa) please be civil. There is no need for the war that is seemingly going on. Keep your cool!

Stats

  • 25% first mined by ViaBTC as of block 12
  • 75% first mined by "Other" (MCPool/Solo Miner?) as of block 12
  • Largest (and first block): 6985 transactions, 1915175B size (1.82MB, over 1MB almost 2MB!!) as of block 12
  • First block was mined 5 hours 52 min 41 sec after fork at 7:12:41 PM (1st Aug 2017. It contained 6985 transactions, and was 1915175B in size (1.82MB, over 1MB). It was mined by ViaBTC
  • Second block took 24 min 38 sec after first block to mine by ViaBTC
  • Quickest block after last: Block 8, + 3 min 37 sec after block 7 as of block 12
  • First ViaBTC block was mined on Aug 1, 2017 7:12:41 PM
  • First "MCPool" block was mined on Aug 1, 2017 7:37:19 PM
  • VitaBTC mined the first two blocks
  • BCH is 103 blocks behind BTC as of block 12
  • Armchair math has BCH as somewhere between 10 and 15% the hash rate of BTC
  • The fork began at 13:20:00 UK time and kicked off shortly after when 7 blocks had been mined on the BTC chain at 14:26:14 UK time. This is because the 6th block after the timestamp 12:20 UTC is the last block the two chains share in common before the split off at the 7th.
  • MTP (described above) is actually the median point of the last 11 blocks but it is essentially the same.
  • This means the fork kicked off at block #478558 and started with block #478553

Latest updates

  • Added blocks 11 & 12
  • Added block 10
  • Cleaned out updates list

Blocks

Block 12
Aug 2, 2017 4:15:01 AM (+ 23 min 12 sec from last block, 8 hours 53 min 20 sec since first block, 14 hours 55 min 1 sec since fork) / Block #478570 / Size: 85032B, 83KB, 0.08MB / Transactions: 142
jMCY/Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong/E!
Block 11
Aug 2, 2017 3:51:49 AM (+ 1 hour 44 min 48 sec from last block, 8 hours 30 min 8 sec since first block, 14 hours 31 min 49 sec since fork) / Block #478569 / Size: 375414B, 366KB, 0.35MB / Transactions: 563
iME>Y/Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong/L۳7
Block 10
Aug 2, 2017 2:07:01 AM (+ 1 hour 28 min 32 sec from last block, 6 hours 45 min 20 sec since first block, 12 hours 47 min 1 sec since fork) / Block #478568 / Size: 376371B, 367KB, 0.35MB / Transactions: 790
hMCPool 1 Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong Y%w;
Block 9
Aug 2, 2017 12:38:29 AM (+ 1 hour 38 min 29 sec from last block, 5 hours 16 minutes 48 sec since first block, 11 hours 18 min 29 sec since fork) / Block #478567 / Size: 420294B, 410KB, 0.4MB / Transactions: 105
gMY/Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong/
Block 8
Aug 1, 2017 10:39:21 PM (+ 3 min 37 sec from last block, 3 hours 17 minutes 40 sec since first block, 9 hours 19 min 21 sec since fork) / Block #478566 / [thread] / Size: 9327B, 9KB, 0.00889MB / Transactions: 21
fM Y/Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong/ 6
Block 7
Aug 1, 2017 10:35:44 PM (+ 30 min 29 sec from last block, 3 hours 14 minutes 3 sec since first block, 9 hours 15 min 44 sec since fork) / Block #478565 / Size: 107160B, 104KB, 0.1MB / Transactions: 165 / [thread]
ViaBTC eM/ViaBTC/Hello World!/g
Block 6
Aug 1, 2017 10:05:15 PM (+ 1 hour 27 min 31 sec from last block, 2 hours 43 minutes 34 sec since first block, 8 hours 45 min 15 sec since fork) / Block #478564 / Size: 462505B, 451KB, 0.44MB / Transactions: 570 / [[thread]
dMCPool 1 Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong Y
Block 5
Aug 1, 2017 8:37:44 PM (+ 44 min 46 sec from last block, 1 hours 16 minutes 3 sec since first block, 7 hours 17 min 44 sec since fork) / Block #478563 5 / Size: 407906B, 398KB, 0.38MB / Transactions: 520 / [[thread]
cMCPool 1 Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong Y؈% L
Block 4
Aug 1, 2017 7:52:58 PM (+ 15 min 39 sec from last block, 31 minutes 17 sec since first block, 6 hours 32 min 58 sec since fork) / Block #4785625 / Size: 89038B, 86KB, 0.084MB / Transactions: 502 / [ [thread]
bMCPool 1 Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong Y S)
Block 3
Aug 1, 2017 7:37:19 PM (+ 4 min 13 sec from last block, 15 minutes 38 sec since first block, 6 hours 17 min 19 sec since fork) / Block #4785615 / Size: 20241B, 19KB, 0.019MB / Transactions: 26 / [ [thread]
aM_ʀY/Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong/E"
Block 2
Aug 1, 2017 7:33:06 PM (+ 24 min 38 sec from last block, 11 minutes 25 sec since first block, 6 hours 13 min 6 sec since fork) / Block #478560 5 / Size: 43055B, 42KB, 0.04MB / Transactions: 75 / [[thread]
ViaBTC `M/ViaBTC/Hello World!/4s"~
Block 1
Aug 1, 2017 7:12:41 PM (+ 4 hour 56 min 27 sec after last block before fork, 5 hours 5 min 52 sec since fork) / Block #478559 5 / Size: 1915175B, 1870KB, 1.82MB (OVER 1MB - ALMOST 2MB!!) / Transactions: 6985 / [[thread]
ViaBTC _M*/ViaBTC/Welcome to the world, Shuya Yang!/q30c
I'll probably be asleep at the next block - I will update when I wake and try and keep it going to +24 or +36 hours from fork! :)
submitted by Inthewirelain to btc [link] [comments]

BCH Latest Blocks

They're coming in much faster than expected! Seems light a fight between ViaBTC and the anonymous mineminer pool ("MCPool") so far. The ticker name seems to be BCH - BitCoinCash. I'm updating this thread both on /BTC and /BitCoin.
Reply below if you want me to add more stats to each block!

Block difficulty

The more miners there are on the network with more power collectively behind them in pools, the harder blocks have to be to solve, so difficulty increases over time. BitCoin has a built in mechanism where difficulty will drop if no blocks are mined in a certain (long) amount of time. This BCC fork has been modified so that if less than 6 blocks have been mined in the past 12 hours, difficulty drops (or if hash rates drop to 1/12th of their former rate - toinewx).
This means at the current rate, we will not see a difficulty drop. This could be good or bad depending on the groups mining them motives are - do they want to lock everyone else out difficulty wise as they are pushing nowhere near as much power or are they enthusiasts supporting the new chain? Time will tell.

Links

I have compiled here various useful links, resources and threads to do with the split and BCH.
Reddit links are np (non participation) but should you go over to the other sub (/bitcoin /btc or vice versa) please be civil. There is no need for the war that is seemingly going on. Keep your cool!

Stats

  • 25% first mined by ViaBTC as of block 12
  • 75% first mined by "Other" (MCPool/Solo Miner?) as of block 12
  • Largest (and first block): 6985 transactions, 1915175B size (1.82MB, over 1MB almost 2MB!!) as of block 12
  • First block was mined 5 hours 52 min 41 sec after fork at 7:12:41 PM (1st Aug 2017. It contained 6985 transactions, and was 1915175B in size (1.82MB, over 1MB). It was mined by ViaBTC
  • Second block took 24 min 38 sec after first block to mine by ViaBTC
  • Quickest block after last: Block 8, + 3 min 37 sec after block 7 as of block 12
  • First ViaBTC block was mined on Aug 1, 2017 7:12:41 PM
  • First "MCPool" block was mined on Aug 1, 2017 7:37:19 PM
  • VitaBTC mined the first two blocks
  • BCH is 103 blocks behind BTC as of block 12
  • Armchair math has BCH as somewhere between 10 and 15% the hash rate of BTC
  • The fork began at 13:20:00 UK time and kicked off shortly after when 7 blocks had been mined on the BTC chain at 14:26:14 UK time. This is because the 6th block after the timestamp 12:20 UTC is the last block the two chains share in common before the split off at the 7th.
  • MTP (described above) is actually the median point of the last 11 blocks but it is essentially the same.
  • This means the fork kicked off at block #478558 and started with block #478553

Latest updates

  • Added blocks 11 and 12
  • Added block 10
  • Added some stats
  • Created this thread (continuation from the /btc thread)

Blocks

Block 12
Aug 2, 2017 4:15:01 AM (+ 23 min 12 sec from last block, 8 hours 53 min 20 sec since first block, 14 hours 55 min 1 sec since fork) / Block #478570 / Size: 85032B, 83KB, 0.08MB / Transactions: 142
jMCY/Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong/E!
Block 11
Aug 2, 2017 3:51:49 AM (+ 1 hour 44 min 48 sec from last block, 8 hours 30 min 8 sec since first block, 14 hours 31 min 49 sec since fork) / Block #478569 / Size: 375414B, 366KB, 0.35MB / Transactions: 563
iME>Y/Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong/L۳7
Block 10
Aug 2, 2017 2:07:01 AM (+ 1 hour 28 min 32 sec from last block, 6 hours 45 min 20 sec since first block, 12 hours 47 min 1 sec since fork) / Block #478568 / Size: 376371B, 367KB, 0.35MB / Transactions: 790
hMCPool 1 Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong Y%w;
Block 9
Aug 2, 2017 12:38:29 AM (+ 1 hour 38 min 29 sec from last block, 5 hours 16 minutes 48 sec since first block, 11 hours 18 min 29 sec since fork) / Block #478567 / Size: 420294B, 410KB, 0.4MB / Transactions: 105
gMY/Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong/
Block 8
Aug 1, 2017 10:39:21 PM (+ 3 min 37 sec from last block, 3 hours 17 minutes 40 sec since first block, 9 hours 19 min 21 sec since fork) / Block #478566 / [thread] / Size: 9327B, 9KB, 0.00889MB / Transactions: 21
fM Y/Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong/ 6
Block 7
Aug 1, 2017 10:35:44 PM (+ 30 min 29 sec from last block, 3 hours 14 minutes 3 sec since first block, 9 hours 15 min 44 sec since fork) / Block #478565 / Size: 107160B, 104KB, 0.1MB / Transactions: 165 / [thread]
ViaBTC eM/ViaBTC/Hello World!/g
Block 6
Aug 1, 2017 10:05:15 PM (+ 1 hour 27 min 31 sec from last block, 2 hours 43 minutes 34 sec since first block, 8 hours 45 min 15 sec since fork) / Block #478564 / Size: 462505B, 451KB, 0.44MB / Transactions: 570 / [[thread]
dMCPool 1 Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong Y
Block 5
Aug 1, 2017 8:37:44 PM (+ 44 min 46 sec from last block, 1 hours 16 minutes 3 sec since first block, 7 hours 17 min 44 sec since fork) / Block #478563 5 / Size: 407906B, 398KB, 0.38MB / Transactions: 520 / [[thread]
cMCPool 1 Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong Y؈% L
Block 4
Aug 1, 2017 7:52:58 PM (+ 15 min 39 sec from last block, 31 minutes 17 sec since first block, 6 hours 32 min 58 sec since fork) / Block #4785625 / Size: 89038B, 86KB, 0.084MB / Transactions: 502 / [ [thread]
bMCPool 1 Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong Y S)
Block 3
Aug 1, 2017 7:37:19 PM (+ 4 min 13 sec from last block, 15 minutes 38 sec since first block, 6 hours 17 min 19 sec since fork) / Block #4785615 / Size: 20241B, 19KB, 0.019MB / Transactions: 26 / [ [thread]
aM_ʀY/Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong/E"
Block 2
Aug 1, 2017 7:33:06 PM (+ 24 min 38 sec from last block, 11 minutes 25 sec since first block, 6 hours 13 min 6 sec since fork) / Block #478560 5 / Size: 43055B, 42KB, 0.04MB / Transactions: 75 / [[thread]
ViaBTC `M/ViaBTC/Hello World!/4s"~
Block 1
Aug 1, 2017 7:12:41 PM (+ 4 hour 56 min 27 sec after last block before fork, 5 hours 5 min 52 sec since fork) / Block #478559 5 / Size: 1915175B, 1870KB, 1.82MB (OVER 1MB - ALMOST 2MB!!) / Transactions: 6985 / [[thread]
ViaBTC _M*/ViaBTC/Welcome to the world, Shuya Yang!/q30c
I'll update for a few hours then it's all to the comments! I've been keeping this going over at the other sub for a few hours so I won't be up loads longer but please feel free to continue in the comments.
submitted by Inthewirelain to Bitcoin [link] [comments]

What is mining?

Mining is the activity of maintaining a distributed platform and creating new blocks with the ability to receive rewards in the form of new units and commission fees in various cryptocurrencies.
A distributed platform is a way to solve problems at once on many devices combined in parallel. In the process of mining, a mathematical problem is solved, as a result of which you can get currency for it. In other words, PC performance converts into money, and miner pays just for electricity and the Internet.
Network support consists of confirming transactions by including them into blocks and calculating the key (hash) of such a block. The key of the block does not allow changing the information of the block in the future, which excludes the possibility of counterfeiting transactions made in the block. Finding (calculating) a key with the given parameters does not occur instantly — it is necessary to generate many keys in order to get the given one. But this is not all — after generating the key, you need to receive confirmation of the fidelity of such a block from other network participants. Confirmation consists of checking the block key. In the Bitcoin network, at least 120 confirmations must be received. Such confirmation is another degree of protection against distortion and additional verification of data on the network.
The essence of mining is the creation of a whole network of decentralized computers and the necessary equipment that solves all the necessary conceived using their technical capabilities. All these connections are called nodes in mining. And, the more of them are in the blockchain system, the more decentralized the network is, and all work happens much faster.
Types of mining From the technical side, mining can be divided into 3 types, depending on the equipment:
Depending on the method, mining is divided into 3 types:
Interesting facts The terms of Bitcoins emission gave more advantages to those who took up mining with a small aggregate network capacity. So, the amount of work needed to generate the unit, in 2013 amounted to almost half a million times more than after releasing the network. With an increase in the total processing power of miners, generation becomes more energy- and hardware-intensive. This is accompanied by a planned reduction in the size of the mining reward. This way halving came in sight.
In the 2000s, fewer people knew about mining than now. Thas why, the benefit of mining was much more. But anyway there were some risks. F.e. on Reddit now you can find a lot of stories where miners got lost their keys and all the capital as well. But if there are all right with keys, the miner from 2010 has huge funds now.
Mining today Nowadays, it is quite difficult to start solo mining, because of the high competition of mining farms, pools and other entities. In addition, the start is expensive. In order to earn, you should initially invest quite a huge amount of money on expensive equipment and electricity. So you need to weigh the pros and cons before purchasing assets.
SwapSpace team is always ready for discussion. You can drop an email about your suggestions and questions to [[email protected]](mailto:[email protected]) Join our social networks: Twitter, Medium, Facebook The best rates on https://swapspace.co/ Why is SwapSpace https://blog.swapspace.co/2019/09/17/why-is-swapspace/
submitted by SwapSpace_co to BitcoinMining [link] [comments]

What is mining?

Mining is the activity of maintaining a distributed platform and creating new blocks with the ability to receive rewards in the form of new units and commission fees in various cryptocurrencies.
A distributed platform is a way to solve problems at once on many devices combined in parallel. In the process of mining, a mathematical problem is solved, as a result of which you can get currency for it. In other words, PC performance converts into money, and miner pays just for electricity and the Internet.
Network support consists of confirming transactions by including them into blocks and calculating the key (hash) of such a block. The key of the block does not allow changing the information of the block in the future, which excludes the possibility of counterfeiting transactions made in the block. Finding (calculating) a key with the given parameters does not occur instantly — it is necessary to generate many keys in order to get the given one. But this is not all — after generating the key, you need to receive confirmation of the fidelity of such a block from other network participants. Confirmation consists of checking the block key. In the Bitcoin network, at least 120 confirmations must be received. Such confirmation is another degree of protection against distortion and additional verification of data on the network.
The essence of mining is the creation of a whole network of decentralized computers and the necessary equipment that solves all the necessary conceived using their technical capabilities. All these connections are called nodes in mining. And, the more of them are in the blockchain system, the more decentralized the network is, and all work happens much faster.
Types of mining From the technical side, mining can be divided into 3 types, depending on the equipment:
Depending on the method, mining is divided into 3 types:
Interesting facts The terms of Bitcoins emission gave more advantages to those who took up mining with a small aggregate network capacity. So, the amount of work needed to generate the unit, in 2013 amounted to almost half a million times more than after releasing the network. With an increase in the total processing power of miners, generation becomes more energy- and hardware-intensive. This is accompanied by a planned reduction in the size of the mining reward. This way halving came in sight.
In the 2000s, fewer people knew about mining than now. Thas why, the benefit of mining was much more. But anyway there were some risks. F.e. on Reddit now you can find a lot of stories where miners got lost their keys and all the capital as well. But if there are all right with keys, the miner from 2010 has huge funds now.
Mining today Nowadays, it is quite difficult to start solo mining, because of the high competition of mining farms, pools and other entities. In addition, the start is expensive. In order to earn, you should initially invest quite a huge amount of money on expensive equipment and electricity. So you need to weigh the pros and cons before purchasing assets.
SwapSpace team is always ready for discussion. You can drop an email about your suggestions and questions to [[email protected]](mailto:[email protected]) Join our social networks: Twitter, Medium, Facebook The best rates on https://swapspace.co/ Why is SwapSpace https://blog.swapspace.co/2019/09/17/why-is-swapspace/
submitted by SwapSpace_co to CryptoCurrencies [link] [comments]

What is mining?

Mining is the activity of maintaining a distributed platform and creating new blocks with the ability to receive rewards in the form of new units and commission fees in various cryptocurrencies.
A distributed platform is a way to solve problems at once on many devices combined in parallel. In the process of mining, a mathematical problem is solved, as a result of which you can get currency for it. In other words, PC performance converts into money, and miner pays just for electricity and the Internet.
Network support consists of confirming transactions by including them into blocks and calculating the key (hash) of such a block. The key of the block does not allow changing the information of the block in the future, which excludes the possibility of counterfeiting transactions made in the block. Finding (calculating) a key with the given parameters does not occur instantly — it is necessary to generate many keys in order to get the given one. But this is not all — after generating the key, you need to receive confirmation of the fidelity of such a block from other network participants. Confirmation consists of checking the block key. In the Bitcoin network, at least 120 confirmations must be received. Such confirmation is another degree of protection against distortion and additional verification of data on the network.
The essence of mining is the creation of a whole network of decentralized computers and the necessary equipment that solves all the necessary conceived using their technical capabilities. All these connections are called nodes in mining. And, the more of them are in the blockchain system, the more decentralized the network is, and all work happens much faster.
Types of mining From the technical side, mining can be divided into 3 types, depending on the equipment:
Depending on the method, mining is divided into 3 types:
Interesting facts The terms of Bitcoins emission gave more advantages to those who took up mining with a small aggregate network capacity. So, the amount of work needed to generate the unit, in 2013 amounted to almost half a million times more than after releasing the network. With an increase in the total processing power of miners, generation becomes more energy- and hardware-intensive. This is accompanied by a planned reduction in the size of the mining reward. This way halving came in sight.
In the 2000s, fewer people knew about mining than now. Thas why, the benefit of mining was much more. But anyway there were some risks. F.e. on Reddit now you can find a lot of stories where miners got lost their keys and all the capital as well. But if there are all right with keys, the miner from 2010 has huge funds now.
Mining today Nowadays, it is quite difficult to start solo mining, because of the high competition of mining farms, pools and other entities. In addition, the start is expensive. In order to earn, you should initially invest quite a huge amount of money on expensive equipment and electricity. So you need to weigh the pros and cons before purchasing assets.
SwapSpace team is always ready for discussion. You can drop an email about your suggestions and questions to [[email protected]](mailto:[email protected]) Join our social networks: Twitter, Medium, Facebook The best rates on https://swapspace.co/ Why is SwapSpace https://blog.swapspace.co/2019/09/17/why-is-swapspace/
submitted by SwapSpace_co to dogemining [link] [comments]

What is mining?

Mining is the activity of maintaining a distributed platform and creating new blocks with the ability to receive rewards in the form of new units and commission fees in various cryptocurrencies.
A distributed platform is a way to solve problems at once on many devices combined in parallel. In the process of mining, a mathematical problem is solved, as a result of which you can get currency for it. In other words, PC performance converts into money, and miner pays just for electricity and the Internet.
Network support consists of confirming transactions by including them into blocks and calculating the key (hash) of such a block. The key of the block does not allow changing the information of the block in the future, which excludes the possibility of counterfeiting transactions made in the block. Finding (calculating) a key with the given parameters does not occur instantly — it is necessary to generate many keys in order to get the given one. But this is not all — after generating the key, you need to receive confirmation of the fidelity of such a block from other network participants. Confirmation consists of checking the block key. In the Bitcoin network, at least 120 confirmations must be received. Such confirmation is another degree of protection against distortion and additional verification of data on the network.
The essence of mining is the creation of a whole network of decentralized computers and the necessary equipment that solves all the necessary conceived using their technical capabilities. All these connections are called nodes in mining. And, the more of them are in the blockchain system, the more decentralized the network is, and all work happens much faster.
Types of mining From the technical side, mining can be divided into 3 types, depending on the equipment:
Depending on the method, mining is divided into 3 types:
Interesting facts The terms of Bitcoins emission gave more advantages to those who took up mining with a small aggregate network capacity. So, the amount of work needed to generate the unit, in 2013 amounted to almost half a million times more than after releasing the network. With an increase in the total processing power of miners, generation becomes more energy- and hardware-intensive. This is accompanied by a planned reduction in the size of the mining reward. This way halving came in sight.
In the 2000s, fewer people knew about mining than now. Thas why, the benefit of mining was much more. But anyway there were some risks. F.e. on Reddit now you can find a lot of stories where miners got lost their keys and all the capital as well. But if there are all right with keys, the miner from 2010 has huge funds now.
Mining today Nowadays, it is quite difficult to start solo mining, because of the high competition of mining farms, pools and other entities. In addition, the start is expensive. In order to earn, you should initially invest quite a huge amount of money on expensive equipment and electricity. So you need to weigh the pros and cons before purchasing assets.
SwapSpace team is always ready for discussion. You can drop an email about your suggestions and questions to [[email protected]](mailto:[email protected]) Join our social networks: Twitter, Medium, Facebook The best rates on https://swapspace.co/ Why is SwapSpace https://blog.swapspace.co/2019/09/17/why-is-swapspace/
submitted by SwapSpace_co to CoinBase [link] [comments]

What is mining?

Mining is the activity of maintaining a distributed platform and creating new blocks with the ability to receive rewards in the form of new units and commission fees in various cryptocurrencies.
A distributed platform is a way to solve problems at once on many devices combined in parallel. In the process of mining, a mathematical problem is solved, as a result of which you can get currency for it. In other words, PC performance converts into money, and miner pays just for electricity and the Internet.
Network support consists of confirming transactions by including them into blocks and calculating the key (hash) of such a block. The key of the block does not allow changing the information of the block in the future, which excludes the possibility of counterfeiting transactions made in the block. Finding (calculating) a key with the given parameters does not occur instantly — it is necessary to generate many keys in order to get the given one. But this is not all — after generating the key, you need to receive confirmation of the fidelity of such a block from other network participants. Confirmation consists of checking the block key. In the Bitcoin network, at least 120 confirmations must be received. Such confirmation is another degree of protection against distortion and additional verification of data on the network.
The essence of mining is the creation of a whole network of decentralized computers and the necessary equipment that solves all the necessary conceived using their technical capabilities. All these connections are called nodes in mining. And, the more of them are in the blockchain system, the more decentralized the network is, and all work happens much faster.
Types of mining From the technical side, mining can be divided into 3 types, depending on the equipment:
Depending on the method, mining is divided into 3 types:
Interesting facts The terms of Bitcoins emission gave more advantages to those who took up mining with a small aggregate network capacity. So, the amount of work needed to generate the unit, in 2013 amounted to almost half a million times more than after releasing the network. With an increase in the total processing power of miners, generation becomes more energy- and hardware-intensive. This is accompanied by a planned reduction in the size of the mining reward. This way halving came in sight.
In the 2000s, fewer people knew about mining than now. Thas why, the benefit of mining was much more. But anyway there were some risks. F.e. on Reddit now you can find a lot of stories where miners got lost their keys and all the capital as well. But if there are all right with keys, the miner from 2010 has huge funds now.
Mining today Nowadays, it is quite difficult to start solo mining, because of the high competition of mining farms, pools and other entities. In addition, the start is expensive. In order to earn, you should initially invest quite a huge amount of money on expensive equipment and electricity. So you need to weigh the pros and cons before purchasing assets.
SwapSpace team is always ready for discussion. You can drop an email about your suggestions and questions to [[email protected]](mailto:[email protected]) Join our social networks: Twitter, Medium, Facebook The best rates on https://swapspace.co/ Why is SwapSpace https://blog.swapspace.co/2019/09/17/why-is-swapspace/
submitted by SwapSpace_co to CoinTelegraph [link] [comments]

What is mining?

Mining is the activity of maintaining a distributed platform and creating new blocks with the ability to receive rewards in the form of new units and commission fees in various cryptocurrencies.
A distributed platform is a way to solve problems at once on many devices combined in parallel. In the process of mining, a mathematical problem is solved, as a result of which you can get currency for it. In other words, PC performance converts into money, and miner pays just for electricity and the Internet.
Network support consists of confirming transactions by including them into blocks and calculating the key (hash) of such a block. The key of the block does not allow changing the information of the block in the future, which excludes the possibility of counterfeiting transactions made in the block. Finding (calculating) a key with the given parameters does not occur instantly — it is necessary to generate many keys in order to get the given one. But this is not all — after generating the key, you need to receive confirmation of the fidelity of such a block from other network participants. Confirmation consists of checking the block key. In the Bitcoin network, at least 120 confirmations must be received. Such confirmation is another degree of protection against distortion and additional verification of data on the network.
The essence of mining is the creation of a whole network of decentralized computers and the necessary equipment that solves all the necessary conceived using their technical capabilities. All these connections are called nodes in mining. And, the more of them are in the blockchain system, the more decentralized the network is, and all work happens much faster.
Types of mining From the technical side, mining can be divided into 3 types, depending on the equipment:
Depending on the method, mining is divided into 3 types:
Interesting facts The terms of Bitcoins emission gave more advantages to those who took up mining with a small aggregate network capacity. So, the amount of work needed to generate the unit, in 2013 amounted to almost half a million times more than after releasing the network. With an increase in the total processing power of miners, generation becomes more energy- and hardware-intensive. This is accompanied by a planned reduction in the size of the mining reward. This way halving came in sight.
In the 2000s, fewer people knew about mining than now. Thas why, the benefit of mining was much more. But anyway there were some risks. F.e. on Reddit now you can find a lot of stories where miners got lost their keys and all the capital as well. But if there are all right with keys, the miner from 2010 has huge funds now.
Mining today Nowadays, it is quite difficult to start solo mining, because of the high competition of mining farms, pools and other entities. In addition, the start is expensive. In order to earn, you should initially invest quite a huge amount of money on expensive equipment and electricity. So you need to weigh the pros and cons before purchasing assets.
SwapSpace team is always ready for discussion. You can drop an email about your suggestions and questions to [[email protected]](mailto:[email protected]) Join our social networks: Twitter, Medium, Facebook The best rates on https://swapspace.co/ Why is SwapSpace https://blog.swapspace.co/2019/09/17/why-is-swapspace/
submitted by SwapSpace_co to ethtrader [link] [comments]

The Concept of Bitcoin

The Concept of Bitcoin
https://preview.redd.it/5r9soz2ltq421.jpg?width=268&format=pjpg&auto=webp&s=6a89685f735b53ec1573eefe08c8646970de8124
What is Bitcoin?
Bitcoin is an experimental system of transfer and verification of property based on a network of peer to peer without any central authority.
The initial application and the main innovation of the Bitcoin network is a system of digital currency decentralized unit of account is bitcoin.
Bitcoin works with software and a protocol that allows participants to issue bitcoins and manage transactions in a collective and automatic way. As a free Protocol (open source), it also allows interoperability of software and services that use it. As a currency bitcoin is both a medium of payment and a store of value.
Bitcoin is designed to self-regulate. The limited inflation of the Bitcoin system is distributed homogeneously by computing the network power, and will be limited to 21 million divisible units up to the eighth decimal place. The functioning of the Exchange is secured by a general organization that everyone can examine, because everything is public: the basic protocols, cryptographic algorithms, programs making them operational, the data of accounts and discussions of the developers.
The possession of bitcoins is materialized by a sequence of numbers and letters that make up a virtual key allowing the expenditure of bitcoins associated with him on the registry. A person may hold several key compiled in a 'Bitcoin Wallet ', 'Keychain' web, software or hardware which allows access to the network in order to make transactions. Key to check the balance in bitcoins and public keys to receive payments. It contains also (often encrypted way) the private key associated with the public key. These private keys must remain secret, because their owner can spend bitcoins associated with them on the register. All support (keyrings) agrees to maintain the sequence of symbols constituting your keychain: paper, USB, memory stick, etc. With appropriate software, you can manage your assets on your computer or your phone.
Bitcoin on an account, to either a holder of bitcoins in has given you, for example in Exchange for property, either go through an Exchange platform that converts conventional currencies in bitcoins, is earned by participating in the operations of collective control of the currency.
The sources of Bitcoin codes have been released under an open source license MIT which allows to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the software, subject to insert a copyright notice into all copies.
Bitcoin creator, Satoshi Nakamoto
What is the Mining of bitcoin?
Technical details :
During mining, your computer performs cryptographic hashes (two successive SHA256) on what is called a header block. For each new hash, mining software uses a different random number that called Nuncio. According to the content of the block and the nonce value typically used to express the current target. This number is called the difficulty of mining. The difficulty of mining is calculated by comparing how much it is difficult to generate a block compared to the first created block. This means that a difficulty of 70000 is 70000 times more effort that it took to Satoshi Nakamoto to generate the first block. Where mining was much slower and poorly optimized.
The difficulty changes each 2016 blocks. The network tries to assign the difficulty in such a way that global computing power takes exactly 14 days to generate 2016 blocks. That's why the difficulty increases along with the power of the network.
Material :
In the beginning, mining with a processor (CPU) was the only way to undermine bitcoins. (GPU) graphics cards have possibly replaced the CPU due to their nature, which allowed an increase between 50 x to 100 x in computing power by using less electricity by megahash compared to a CPU.
Although any modern GPU can be used to make the mining, the brand AMD GPU architecture has proved to be far superior to nVidia to undermine bitcoins and the ATI Radeon HD 5870 card was the most economical for a time.
For a more complete list of graphics cards and their performance, see Wiki Bitcoin: comparison of mining equipment
In the same way that transition CPU to GPU, the world of mining has evolved into the use of the Field Programmable Gate Arrays (FPGA) as a mining platform. Although FPGAs did not offer an increase of 50 x to 100 x speed of calculation as the transition from CPU to GPU, they offered a better energy efficiency.
A typical HD/s 600 graphics card consumes about 400w of power, while a typical FPGA device can offer a rate of hash of 826 MH/s to 80w of power consumption, a gain of 5 x more calculations for the same energy power. Since energy efficiency is a key factor in the profitability of mining, it was an important step for the GPU to FPGA migration for many people.
The world of the mining of bitcoin is now migrating to the Application Specific Integrated Circuit (ASIC). An ASIC is a chip designed specifically to accomplish a single task. Unlike FPGAs, an ASIC is unable to be reprogrammed for other tasks. An ASIC designed to undermine bitcoins cannot and will not do anything else than to undermine bitcoins.
The stiffness of an ASIC allows us to offer an increase of 100 x computing power while reducing power consumption compared to all other technologies. For example, a classic device to offer 60 GH/s (1 hashes equals 1000 Megahash. 1GH/s = 1000 Mh/s) while consuming 60w of electricity. Compared to the GPU, it is an increase in computing power of 100 x and a reduction of power consumption by a factor of 7.
Unlike the generations of technologies that have preceded the ASIC, ASIC is the "end of the line" when we talk about important technology change. The CPUs have been replaced by the GPUs, themselves replaced by FPGAs that were replaced by ASICs.
There is nothing that can replace the ASICs now or in the immediate future. There will be technological refinements in ASIC products, and improvements in energy efficiency, but nothing that may match increased from 50 x to 100 x the computing power or a 7 x reduction in power consumption compared with the previous technology.
Which means that the energy efficiency of an ASIC device is the only important factor of all product ASIC, since the estimated lifetime of an ASIC device is superior to the entire history of the mining of bitcoin. It is conceivable that a purchased ASIC device today is still in operation in two years if the unit still offers a profitable enough economic to keep power consumption. The profitability of mining is also determined by the value of bitcoin but in all cases, more a device has a good energy efficiency, it is profitable.
Software :
There are two ways to make mining: by yourself or as part of a team (a pool). If you are mining for yourself, you must install the Bitcoin software and configure it to JSON-RPC (see: run Bitcoin). The other option is to join a pool. There are multiple available pools. With a pool, the profit generated by any block generated by a member of the team is split between all members of the team. The advantage of joining a team is to increase the frequency and stability of earnings (this is called reduce the variance) but gains will be lower. In the end, you will earn the same amount with the two approaches. Undermine solo allows you to receive earnings huge but very infrequent, while miner with a pool can offer you small stable and steady gains.
Once you have your software configured or that you have joined a pool, the next step is to configure the mining software. The software the most populare for ASIC/FPGA/GPU currently is CGminer or a derivative designed specifically for FPGAS and ASICs, BFGMiner.
If you want a quick overview of mining without install any software, try Bitcoin Plus, a Bitcoin minor running in your browser with your CPU. It is not profitable to make serious mining, but it is a good demonstration of the principle of the mining team.
submitted by Josephbitcoin to u/Josephbitcoin [link] [comments]

Vertcoin's Recent Decisions. The damage hasn't been done yet, please join me in stopping the madness!

Foreword
Alright, I’ve been sitting on the sidelines about most of the dealings with Vertcoin because I felt like a lot of the sensible voices were loud enough on their own. Many people have stepped up to the plate and developed amazing products that benefit Vertcoin at no addition expense to the original development team. I’ve seen and helped test/brainstorm some incredible projects. Vert.geek.nz was a great example: a project that promoted p2pool mining while still allowing miners to reap the benefit of merged mining. Before nzsquirrell brought us this product we were all forced to either solo mine or to switch to a mining pool that support merged coins (namely SimpleVert at the time). V2p was another amazing product. There's the One Click Miner that's being developed right now... There are a lot more, but my point is that people were able to see a need for a new service, and build that service without any voting or public funding or whatever. And they did an amazing job because they thought things through. With input from multiple sources, and a slow, steady brainstorming session, they were able to develop something that really couldn’t have been made better.
Democracy in Action
Alternatively, Vertcoin itself is being left to an absolutely ridiculous voting process right now that WILL destroy the coin, and here’s why: The democratic process doesn’t work. If you build a system by which the majority can make these kinds of decisions, you create an environment based purely on mob mentality. If I can convince a large enough group of people that a certain idea is better than another, I win. This is extremely bad if you’re trying to gather interest from investors as well because it creates too much variance in coin value and feature sets (the idea of changing the also they would probably like, since that’s something Vertcoin has been about since the beginning, changing the inner workings of the coin simply to combat a single “problem” is VERY BAD if you want to attract investors because they see these moves as signs of weakness).
Development
Now, I’ll come back to the VertVote process later, because I think the most important thing to talk about right now is the decision-making process on the part of our developers.
The VTC dev team has done numerous things that don’t make sense to a number of users lately, and they need to be addressed. First, the website update. We’ve beat this horse to a pulp, and I understand that, but I think people still need to keep this in mind. When the new site was released, there wasn’t any input from the community. There wasn’t any play-testing or public brainstorming done to help promote discussion that might have found issues with this site. For example, the “Mining” page still doesn’t have a single mining pool listed, which leaves a user to go out and find a solid pool on their own. This isn’t easy, especially for someone who doesn’t even know how cryptocurrencies work (the primary audience for a site like this should be users with no crypto experience). The same goes for the “Details” page. There’s plenty of technical information, but that doesn’t mean anything to a regular person. They don’t know what an algorithm is, or what block times/rewards are… It even mentioned merged-mining, without any information on what that is. It’s just confusing for a newbie.
Management
Second, and similarly, the marketing fund got thrown into a pit of uselessness. Vertcoin.org was advertised to miners on a site where people go to see the profitability and mining calculations for a number of coins. Let’s just say that the ad actually catches a miners eye and they click on it. It would lead them to a site that has no information on which mining pools they can/should connect to, aside from p2pool. So the most common frequenter of that site can’t access the most important information he would want from the Vertcoin website. I want to know how that seemed like a good idea.
Alternatively, a group of dedicated Vertans (including one miner that has somewhere in the ballpark of 40 rigs, so he’s pretty damn dedicated), built an entire site from scratch that addressed a number of things for regular folks who we should be attracting to Vertcoin, and presented it to the community and the development team. I realize that there’s a sort of pride in work mentality that might have made the devs prefer their own site, but in this case the new presentation was, in my opinion, better. Furthermore, the devs could have taken this new site and moved it over straight away with almost no other changes, besides a couple small fixes and integration to include mobile browsers. Instead, all they got was a 'thanks for the suggestions, I’ll use some of your stuff if it seems fitting’. If you want to check out the alternative site that a few dedicated Vertans built, check it out here.
VertVote
Now, I promised to come back to VertVote. VertVote says on their front page: "You may vote once on any active poll. Make your voice heard Vertan!”, yet there’s literally nothing stopping a member from voting multiple times. So now we’re making decisions about the life of the coin based on how many possible mis-informed people vote for something, with the honest folks losing out more than anyone else (since the honest ones are the ones less likely to cheat)… Probably the most important factor for VertVote would be the fact that it's in the hands of such a knee-jerk crew right now. I didn't even realize that the vote for block maturation was actually a decision-making vote. I assumed it was simply a poll that the dev team wanted to conduct to get a gauge of how strongly the miners feel on the subject. Instead, they took one of the most poorly worded/conducted votes and turned it into the final decision on the continuation of the coin. That was the wrong decision.
Not only that, but it appears that the dev team has decided to interpret the voting results however they see fit, without letting anyone know the conditions of the vote in advance. The example of this being that fact that they completely disregarded the winning vote and instead gave the vote to the second-highest result. To me, this would be like throwing the clear presidential winner out because he only had 49% of the vote (so 51% didn’t want him) and instead picking the candidate who had 30% of the vote simply because he was among the majority… It makes no sense, and if you were going to start a vote with such a senseless base to it, you should have stated as much and given voters more time to decide before they cast their vote(s).
As for the VertVote manipulation, for those who don’t believe me. It’s incredibly easy, and ridiculous. To test things out, I used 100 VTC, spread it out across 10 VTC addresses and cast a vote from each. Nothing in the site, not even a browser cookie, stopped me from casting multiple votes. But then I thought a bit more. Why limit myself by how much VTC I have? All I need is 10 VTC in an address at the moment I cast my vote. So really, I just need 10 VTC plus [number of votes I want to cast] times [transaction fee to send 10 VTC]. I could just keep creating wallets, sending the 10 VTC to the new wallet, and vote again… On the other hand, one of the measures to fight against this behavior is a block on IP addresses submitting multiple votes. This doesn't seem all that logical, considering multiple people could reside at one location / share an internet connection and not be able to voice their opinion as well as a single person / internet user.
Economically, These are Bad Decisions
As for the block subsidy change proposal: This is getting out of hand. Cryptocurrencies’ values need to stay in line with regular products and fiat currency. A very successful cryptocurrency should have about a 1:1 ratio with things normal people are used to. What this means is that we want Vertcoin to settle in value somewhere between $0.50 and $3 each, so that normal people can easily convert the value and go from there. Artificially halting/slowing the production of Vertcoin may result in a slight pump in value, but ultimately it will detract investors because it causes more variance (who knows what the devs/community will want to do next) and it makes Vertcoin less easy to calculate compared to what they’re used to (i.e. the dollar, euro, etc).
Think of it, literally, as a coin. If Vertcoin were an actual coin and each coin were worth over $100, people won’t exactly want to carry it around. For this reason, Bitcoin community members have been discussing creating a denomination of sorts, so they could refer to smaller increments of BTC as something like bits and have each bit worth $0.10-1.00. Your proposal would do the exact opposite and make Vertcoin even more difficult for the layman to comprehend.
Minor side-point
One last thing, and this is mostly unrelated (I noticed it during my experimentation): Vertcoin-Qt has an option to view a transaction on VertExplorer, even though VertExplorer isn’t even around anymore. Alternatively, there’s explorer.vertcoin.org, which works fine. Can the devs please change the wallet so that it can reference transactions without having to copy, browse to explorer.vertcoin.org and then paste/search for that transaction?
For Those Who Think We Need VertVote:
I ask you this, what did you come here for? Did you like Vertcoin, or did you like the idea of a coin that could be constantly changed on the whim of a couple hundred votes? We all bought into Vertcoin because we liked what it stood for (ASIC-resistance), and the economics of it were sound. Even now, the economics of it are only frowned upon because we see so many PoS coins taking over the market. Nobody's out there suggesting we switch to a PoS model, even though PoS is patently anti-ASIC, ASIC-proof for that matter. The whole point of cryptocurrencies is that they are void of any centralized control. If we leave this coin up to the decisions of those who hold it, we're still centralizing the currency's control to those people in particular. Instead, we should be basing the currency on a constitutional model (by that I mean that there should be absolutes that won't be changed, such as the block reward schedule, total VTC supply, time to block solve, etc). The technical details should only change out of absolute necessity to maintain the requirements laid out in the coin's "constitution". In this case, changing the algorithm makes sense, because it maintains the constitutional requirement of being ASIC-resistant. Changing the block reward is just an idea that people like because they see it as a way to increase the value and ROI of their current holdings, without regard to the fact that it'll scare off practically any conscious investor.
submitted by phishfi to vertcoin [link] [comments]

1st Round AMA Answers!

Based on the volume of questions from the East and West, we have compiled them all here. We also want to make sure the community has a chance to see all of the answers in a neat and orderly presentation.
 
Reddit 1st AMA Answers
What do you mean by “side chains”? Will the Hcash main chain run parallel with other chains, or are other chains plugged in based on certain block numbers? My question is based around the vertical and parallel scalability I see with EOS. What is the interaction with the side chains? Is this faster than vertical scaling?
Side chains will run parallel and be interoperable with the main chain. Side chains allow for new, more efficient, consensus mechanisms as well as smart contract functionality. Eventually other major blockchains will be interoperable with Hcash, through side chains and relays, DAG EVM for ETH, and other “Layer 2” solutions (Lightning Network for BTC and BTC forked code). Side chains allow for different scalability methods, flexibility and accessibility.
Is quantum resistance to protect against hacking, or against “fast mining” (preventing inequality between PoW miners)? How is it possible to guarantee quantum resistance? Isn’t our understanding of quantum computing just based on theories since quantum computers are not fully functional yet?
Quantum resistance is the protection against attacks made by quantum computers, which is currently contrasted by what we know about classical computers. Quantum computers weaken the security assumptions of certain types of cryptography, including ECDSA. If ECDSA were broken, attackers could steal balances in addresses that have made previous spends because the ECDSA public key for the address is revealed to the blockchain. Addresses with unexposed ECDSA keys will be resistant to this type of attack, as they are secured by RIPEMD160 and their ECDSA keys have not been revealed. Quantum resistance does not mean quantum proof. Quantum resistance means that quantum-based attacks do not have a significant advantage over the computers we have today. Based on what we currently know, our signature scheme is quantum resistant. No one knows what the future holds which is why it is important to always continue research and development into quantum resistant cryptography.
What do you mean by “exchange of value and valuable information”? Is this the exchange of coins and smart contracts?
The “value” you are referring is not derived from our current understanding of value (fiat). The “true value” that blockchain systems hold is stored in the hashes themselves. Data and information is king.
Imagine that in 2 years, a kid walks up to you and asks, “What do you do and how does it help society?”
We are one of many projects that helped build a more secure web of connected devices, and revolutionized peoples’ opinion on value and what really matters.
An uninformed businessman who has no understanding of blockchain, but has heard Bitcoin approaches you. How do you explain your product and the benefits to him so that he remembers to give you a call the next day?
Tell him to do his research on blockchain first before selling him on some grand idea. Smart investors grow a stable smart economy, not dumb money.
After reviewing the Hcash source code on GitHub https://github.com/HcashOrg/hcashd, I've found that almost all the Hcash main chain code has been written by SJTU (Shanghai Jiao Tong University), for example https://github.com/sammy00 https://github.com/yczhangsjtu. What have other contributors, such as the Nucleus Team, done for Hcash?
Shanghai Jiao Tong University’s Lab of Cryptography and Computer Security is the primary contributor to the main chain code. It is no small feat to have the 4th best university in China working on this project. The Nucleus Team is working with them to finish main chain testing. After the main chain launch, the Nucleus team will focus on the future development for Hcash including our side DAG EVM and main chain Lightning interoperability.
The main chain public repo hasn’t been updated very frequently.
Please refer to our new GitHub. The frequency of updates will increase as we approach/ pass the main chain launch.
When will the swap from Hshares to Hcash take place?
The swap to the main chain will take place after the main chain launch mid-February. Announcements will be made as to how and where you can swap your Hshares for Hcash.
What is the exact date of main chain launch?
The main chain launch will take place mid-February. We are aiming for release on February 15th.
Will you provide interoperability for all the existing blockchains?
We hope to provide interoperability for all blockchains in the future. That is a lot of work though. We will start with the larger chains that have healthy development and community sizes first. To make this easier, we plan to provide a back-end solution for new blockchains to make this process easier.
Will the interoperability between the blockchains support both transfer of data and transfer of value?
Yes
What is a block-less blockchain? Is this a traditional distributed system?
A block-less blockchain accomplishes the same goals as a traditional blockchain by using consensus to determine the order of transactions. A block-less blockchain, such as a DAG, allows for faster consensus without traditional block size requirements. Faster consensus means higher throughput.
How will Hcash bridge block-less and traditional blockchains?
Through relays between our main chain and side DAG. A more technical analysis will be available in our upcoming yellow paper.
What signature scheme will you use to achieve quantum resistance? Why?
Hcash is using the BLISS signature scheme. Hcash’s version of BLISS has been hardened to mitigate side channel attacks. BLISS was chosen for its efficient key and signature size.
Provide an overview as to how inoperability will be achieved.
We will be using relays to Hashed Timelock Contracts for Lightning Network interop on our main chain, relays and colored coins that operate with our DAG EVM, bridges to side chains for more uncommon chains, and back-end protocols for newer blockchains.
Specifically, what is the theory behind Hcash’s interoperability?
This answer would be longer than the entire AMA. Unfortunately, the specifics will have to wait until the yellow paper release. In the meantime, I would read the Lightning Network whitepaper because it is an excellent source of information. You could also research BTC relays and EVMs.
What is the timeline for interoperability? Will this be the main focus of Hcash? When can be expect an Alpha version?
We will be updating the roadmap in Q2. Interop timeframes will be easier to gauge after the main chain release. There are quite a few ideas around what we would like to tackle next, whether it would be assisting other projects on Lightning Network development, the DAG EVM implementation, or possibly both at the same time.
How will swap values be calculated when switching between blockchains? Is it based on the current market value?
Yes, it would be based on the current, real time market value.
Will you update the whitepaper to include a comprehensive overview of interoperability, its theory and its exchange functions?
In the coming months we plan to do an update on the white paper. The technical analysis will be provided in our yellow paper. These will be detailed in the updated roadmap to be released after the main chain launch.
Can you explain who will use the Hcash? I am trying to figure out where the supply and demand will come from.
Our target audience is everyone, from people playing mobile games to supporting business and government logic. The supply and demand will come with the need to transfer more and more data across multiple platforms. As for the economic model, this has not been outlined yet. We will be exploring all methods that fall in line with creating smart economies, including 2 token models.
Will you be hiring an advertising team?
We are already expanding Western marketing, primarily in the US. More focus on this will come soon after the main chain.
What are ring signatures in cryptography? How do they work?
At this time, we are exploring more efficient transaction schemes, such as bulletproofs. Bulletproofs can reduce the computational power needed for privatized/ anonymous transactions.
Most of us understand the interoperability of the network. What is a specific use case for Hcash? What role will Hcash have in the network? What makes it a requirement for interoperability? If someone has Bitcoin and wants to convert it to Ethereum using Hcash’s network wallet, is Hcash used as a fee for that conversion?
Here is an analogy. You walk into an arcade with 20 different machines. Each of these machines takes a different token, but you only have coins that operate with one of these machines. This would be the type of solution we hope to provide. Fees can be paid with Hcash. In the future we can explore taking fees in other denominations as well. More of this would be explained in detail with our yellow paper and economic model.
 
Baidu 1st AMA Answers
What specific date will the main chain go online?
Main chain release is mid-February, but we are aiming for launch on February 15th.
Are you willing to divulge how many apps you have in development for the Hcash main chain?
The primary focus right now is to improve the stability of the Hcash main chain. This will ensure successful launches in the future for developers on our side DAG EVM.
What is the Martian’s current relationship to Hcash? Is he still part of its team?
The Hcash team is currently located on Earth. The last I heard the Martian was returning to Mars.
Will the main chain go up according to schedule? Are there any problems with Hcash? The specialist sales team was made up of shareholders/ investors, right?
Provided no unforeseen circumstances, we are on schedule for the main chain release. There are roadblocks and disconnects with every project. This is a new world of technology we are exploring. I think the team you may be referring to is the Hcash Foundation themselves. A lot of the Western marketing and development is being handled by the Nucleus Team.
Is the code on GitHub all original? Are all developments executed on GitHub? Why is there so little original code? There are so few modifications. I also noticed there are remarkably few references to the code. Most of them are from documents that have been updated.
Many engineers have worked to contribute to the blockchain community over the years. We are taking advantage of the hard work and research that has been done while also making our own meaningful contributions for others to use in their code. It is important to acknowledge the contributions of others. The work completed by Decred in particular has allowed us to grow. Now we will have our chance to contribute back to them and others with our post quantum signature scheme and NG implementation. There are advantages of having similar projects that people don’t realize. For example, after our main chain launch we can explore assisting with development on the Lightning Network. As for GitHub, you will see activity increase when the main chain launches.
What is scope of the Hcash R&D team?
To assess, research and develop cutting edge decentralized consensus mechanisms and applications.
Hcash is currently collaborating with three universities. Shanghai Jiao Tong University has been working on the main chain quantum resistance. What are the main responsibilities of the other two universities?
Building blockchain technology is a group effort. The other teams have also been researching other options for main chains, smart contracts etc. For example, Dr. Joseph Liu from Monash University is working on ring signature schemes to continue our research and development into privatized transactions. We are looking forward to taking the best efforts of all teams and bringing them to the blockchain communities at large, starting with the post quantum implementation from LoCCS at Shanghai Jiao Tong University.
The Westerners working on Hcash don't seem very enthusiastic. They aren't following a lot of people on Twitter. Does the team have any clearer plans for increasing publicity?
The Westerners are primarily focused on the technology, development, and creating more content. The community management will be increasing transparency and activity in time. More Western marketing can be done after the launch of the main chain.
Are there plans to get onto more exchanges such as Bittrex?
When moon? We are constantly considering all options to allow users to access Hcash. Currently we are listed amongst some of the top exchanges like Binance and growing exchanges like KuCoin.
When will quantum resistant technology be implemented into Hcash? Where can we follow the developments being made and is there anywhere we can go to participate in the project?
Quantum resistant technology is available now on GitHub at https://github.com/HcashOrg/hcashd and will be available for use outside of the testing environment when the main chain launches in the middle of February.
Where do you download the wallet? How do you mine?
The wallet for the new main chain can be found on GitHub at https://github.com/HcashOrg/hcashwallet. You can mine on the new main chain by joining a pool or using the hcashd node to solo-mine.
When will Hshares swap Hcash? Can you announce a general time?
Hshares can be redeemed for Hcash after the main chain launches in the middle of February. Announcements will be made regarding how and where to swap your Hshares for Hcash.
Will there be an address mapping when Hshares swaps to Hcash like there was with EOS? What other kind of mechanism will be used for the coin swap?
A snapshot of Hshares will be included in the Genesis (first) block of Hcash’s launch to allow users to convert their Hshares into Hcash. An announcement will be made as to how, when and where conversions will take place.
When will the main chain that can support smart contracts go online? When will tokenization for Hcash take place?
Smart contract functionality will be available when our side DAG launches. Users, businesses and developers will be able to build dApps, launch tokens and more. We are making sure the main chain is a stable foundation before adding our DAG to the Hcash ecosystem.
There aren't many updates on GitHub and there aren’t many contributors. What kind of coordination is going on with the development team?
Both the Nucleus Team and members of Shanghai Jiao Tong University LoCCS are working together to finalize testing. Updates are being made to our GitHub at https://github.com/HcashOrg/hcashd.
Based on what I've been reading, Shanghai Jiao Tong University is mainly responsible for the main chain portion of the project. How is their team doing? How many research students in their labs are helping them?
Shanghai Jiao Tong is responsible for building and launching the new main chain. Their team there has been doing a great job with research and development and we look forward to seeing more of their work. The Nucleus Team is currently working with them to finish testing. After testing, the Nucleus team will focus on the future development of the project including our side DAG. I do not know the size of their team as we have not visited their lab.
Can you confirm that the main chain will finally go up in mid-February? Is it just a hypothetical date and then a further delay?
The primary responsibility is to make sure the main chain is stable and secure so that it can be used as the foundation to add other important features to the Hcash ecosystem, like smart contracts and hidden transactions. Everyone is working very hard to hit the target release date of mid-February. We are planning on mid-February for the launch unless anything unexpected comes up.
What is the status of these interoperability features? When is the main chain going online?
Main chain will be released mid-February. The interoperability features depend on the stability of the network. Our side DAG EVM will be the quickest addition to the Hcash ecosystem that will allow for ETH interoperability. Lightning Network on the main chain will require further research and development.
Won’t zero knowledge proofs conflict with the system’s throughput?
We are currently working on more uncommon implementations of zero proof knowledge, such as bulletproofs that allow for efficient transaction speeds. We can also achieve higher throughput with our side DAG.
 
Thank you to everyone who participated! Round 2 of our AMA session leading up to the launch of the main chain will be announced shortly 😊
submitted by Mr_Handsome_Nucleus to hcash [link] [comments]

MULTIPLAYER Server Concept [MODREQUEST!?] TLDR: http://imgur.com/a/3aL7X

TLDR Version and visual aid: http://imgur.com/417MpYQ
Hi guys so this is my first post in this subreddit so let me introduce myself: 1600+ hours in SE 90%+ in survival multiplayer, some prior knowledge in regards to programming but not really in regards to the SE mod api and in general a really rational person. I've been actively following the development of SE and since they seem to be serious this time around about the whole "we're going to focus on making the game run stable before we add more" I've again gained some hope that this game actually will somewhen be reasonably playable.
On these bases I decided to share my concept of a multiplayer server. I neither got the time nor the skills to put this together. If I had I would do it myself so I'm just putting this out there! If you want to turn this or part of it into a real thing feel free to contact me.
Im looking for feedback and suggestions regarding this concept so feel free to leave a comment. Of course also if you've got a question feel free to ask.
Basic concept
Trading & Currency
Mechanics
Settings
List of possible mods:
"Credits" (material) - digital currency "credits" basicly BitCoins stored on a physical disk
"Hard Drives" (component) - can store high amounts of credits - available in different capacities
"Server" (block) - limit to one per grid - different capacities - can "safely" store high amounts of "credits" - can only store "hard drives" - extremely robust against damage but not against grinding - you'll only be able to steal the credits which are stored on it by hacking it with the "decoder"
"Decoder" (block) - can exchange credits with the trading stations or other "decoder" blocks via the antennas - can turn "credits" into "hard drives" nearly instant and vise versa - can hack "server" blocks (takes a long time - tiered version of decoder? or possibly upgrade modules)
"Licenses" (component) - can be bought at trading stations - used to build "license modules"
"Ship Core" (block) - tiered or extendable to be able to add more licenses (must be placed next to each other) - acts as brain of a grid (without it the grid will not function) consumes credits according to the licenses used on the grid
"License Modul" (block) - enables a certain block to function - must be placed next to the "ship core" - raises the credit consumption of the "ship core" - you don't get your licenses component back if grinded down you'll have to buy a new one
"Universal Material" (material) - extremely dense and artificially made
"Universal Material Converter" (block) - converts "universal material" into nearly any material under excessive energy consumption and vise versa - tiered versions or modules
"Mech Suit" (spacesuit) - variants (heaviehigher jumps/more hydro...) - higher capacity inventory
"Economy Core" (block) - manages prices for all trading stations - can display all prices of the other stations - sets prices for components/materials depending on how much there has been "recently" sold/bought also considering stations nearby (prices only go up to certain standard price - if low slowly going back up until standard is reached) (the higher the volume of your trade the highelower the price per unit!) - selling licenses, special materials and technology - admin only!
"Trading Core" (block) - buys and sells according to the prices given by the "economy core" - selling licenses - admin only!
"Do not go gentle into that good night" (skybox) - the further out you travel from the starsystem the darker it gets up to the point of total darkness - I don't really know yet how to do this right without fucking up the skybox but I loved total darkness servers
"MoonPrism" (block) - yeah I would really like to see a rework of this mod functional - if you don't know it already it is a shield mod search for it on the steam workshop
Basic premise
The "starsystem" is owned by a massive company which doesn't really care whats going on in the system as long as they get their share. At the center of the system is a highly unusual planet with gravity anomalies and extremely rare resources.
You arrive at a "starsystem" controlled by three major factions. At first they don't really care about your presence. So you start your own little business and buy technologies/licenses from the company owning the system. As your business starts to grow you get more and more pressured by the bigger factions to decide which side you're on.
submitted by WArLORD_3k to spaceengineers [link] [comments]

Q&A series v. 1.0

Building Whalesburg
We are getting questions from investors and bloggers who are not professional miners. They know in common words what it means, what hardware miners use but are not so familiar with numbers of this field. We regularly get questions how much profit Whalesburg will bring to our customers. So we decided to write a post which explains the basics of mining ROI.
This article is not for skilled miners; some details are not covered here!
What is typical ROI in mining, how Whalesburg will improve it?
Mining ROI hardly depends on the hardware you use (GPU or ASICs), cryptocurrency prices, network difficulty, hashrate and other variables, which changes over time. It means that real data may hardly differ from those provided in this article.
Let’s refer to a well-known website Cryptocompare.com on the page of Antminer S9 (https://www.cryptocompare.com/mining/bitmain/antminer-s9-mine). This website is quite popular and has an API used by thousands, so the data seems to be trustworthy. It tells that the price of a single piece of S9 is $2,725, its power consumption equals 1,375W, return per year is $3560 (incl. electricity costs) and ROI equals 130%.
This way you will get $3560 — $2725 = $835 net income at the end of the first year if variables below will remain same. The second year will bring you $3560 more. Note calculations was made using price of 1 BTC = $10516, electricity price $0.12 per kW/h and network difficulty = 18,633,837 PH/s.
Now let’s take a look at whattomine.com website on SHA 256 algorithm: screenshot is in a Medium post
As you can see, there is an option to mine UNIT which more profitable than BTC by 31% (!!!). So switching some of the pool’s hashpowers to this coin and converting UNIT to BTC on the fly could increase miners profit. This is the main concept of Whalesburg smart mining pool.
There is another problem — low UNIT’s network hashrate which can prevent this coin being such a profitable one if we will switch all our powers to it.
We are developing an algorithm which will vary hash powers among new coins and split profits between all participants. So, if someone will mine COIN1 with 130% BPR (BTC Profit Rate) and other will mine Bitcoin with 100% BPR — each of them both will get 15% more profit than just mining BTC. A module which responds for payouts will convert them to BTC by intent and split rewards among participants with PPLNS method.
Same picture we can see on other algorithms. For example our MVP use Ethash: screenshot is in a Medium post
Will your partners who are mining hosting companies hold WBT or they will propose Whalesburg to their clients?
All partners will have a will to hold WBT tokens for their clients, and they agree to such terms. The fee of 0,45% is cheap; additionally, they get a monitoring tool built to fulfill their needs. It is a win-win deal. Clients of our partners are investors, not IT geeks. They don’t need to hold these tokens to see increased ROI in reports. We offer services to any size mining facilities. They will want to hold our tokens and use our software. Can you make some more concrete arguments in favor of Whalesburg regarding time-saving and increased ROI?
Time-saving:
Now miners need to set a bunch of tools like EthMiner, Autominer, Claymore, Afterburner, and others. We incorporate all this functionality in one. Miners need to analyze the profitability of dozens of coins, look for good pools, create and run a .bat or .sh file to stop/run miners. They need to understand this all! Miners need to monitor the state of their hardware manually, and if something happened (drops of hash rate), they need to become a hardware doctors and to heal their farms. Let me tell you a story. Miner has a mining rig built with 8 GPU cards. He mines ETH with X MH/s. Suddenly he finds that hash rate become 0.6X MH/s — this is a 40% drop!!! But all the cards are working, responding at the same delay and have the same hash rate which is (0.6X)/8 MH/s. So Miner takes out GPUs one by one and restarts this rig until he founds one GPU card which causes a problem. He replaces this card with another one, and his rig’s hash rate returns to X MH/s. He still doesn’t know what is wrong with his GPU card. The Whalesburg monitoring tool can prevent failures and diagnose problems automatically and notify Miner. Even try to heal it disconnecting card programmatically.
Return rate:
A long time ago we experimented with my friends who own mining rigs and who were mining ETH. We’ve chosen most popular “smart mining pools” like Nicehash, Miner gate, suprnova.cc and solo mining mode with Claymore miner. The last mode was to mine with Whalesburg proof-of-concept solution — it was EthMiner + Autominer which connects to a pool of the most profitable coin among EtHash algorithm. So we connected five mining farms of the same hash rate to each of these modes and start to gather live statistics. A week was gone, and we calculated profits, rates, metrics: Lowest was solo mode mining with Claymore (obvious reasons — low hash rate, high difficulty). And still it brought to rig owner around 80% to average experiment income; Then go Nicehash and Minergate with 90% of average income, and both more-less were looking similar. Suprnova.cc was the best among all the previous and gave 115% of average experiment income. Whalesburg.com chart was hopping from one coin to another frequently at the start, then it stabilized and showed 125% of average income.
Why we generate more profits, strong part:
The first server-side auto-witching algorithm. The one in the world — all other smart pools leave this to a clients side. Transparent fees. Blockchain-based accounting shows we are not hiding a penny and using actual exchange rates. We have more Ethash coins already, at the start. We have other architecture that other mining pools, the proprietary software we coded our own from scratch. To be confident we can promise at least +15% income to whatever they use now.
Weaknesses:
Whalesburg is in the early stage. We have just released an MVP. Our pool’s hashrate on start will be low comparing to the biggest pools on the market. This is what we need to work out, but it will be easy.
Whalesburg team
Join telegram chat: https://t.me/whalesburg
Test our MVP: http://pool.whalesburg.com
Stay tuned!
submitted by whalesburg to Whalesburg [link] [comments]

How to solo CPU mine Bitcoin & Bitcoin derived ... How Much Money I Made Mining Bitcoin SO FAR!!!!!!! - YouTube USB miner solo mining profitability - YouTube How To Mine 1 Bitcoin in 10 Minutes - Blockchain BTC Miner ... Mining Bitcoin with Excel - YouTube

Find out if it's profitable to mine Bitcoin, Ethereum, Litecoin, DASH or Monero. Do you think you've got what it takes to join the tough world of cryptocurrency mining? CryptoCompare needs javascript enabled in order to work. Follow these instructions to activate and enable JavaScript in Chrome. PC. To the right of the address bar, click the icon with 3 stacked horizontal lines. From the drop ... Mining Calculator This website is made possible and remain free by displaying online advertisements to our users. Please consider supporting us by pausing your ad blocker or whitelisting this website. The Bitcoin.com mining pool has the lowest share reject rate (0.15%) we've ever seen. Other pools have over 0.30% rejected shares. Furthermore, the Bitcoin.com pool has a super responsive and reliable support team. Conclusion: A Bitcoin Mining Calculator Predicts the Future To conclude, a Bitcoin mining calculator can give you a much better idea about your potential to run a profitable mining operation. Remember, however, that some factors such as Bitcoin’s price and mining difficulty, change every day and can have dramatic effects on profitability, so it’s important to conduct up to date ... Accurate Bitcoin mining calculator trusted by millions of cryptocurrency miners since May 2013 - developed by an OG Bitcoin miner looking to maximize on mining profits and calculate ROI for new ASIC miners. Updated in 2020, the newest version of the Bitcoin mining calculator makes it simple and easy to quickly calculate mining profitability for your Bitcoin mining hardware.

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How to solo CPU mine Bitcoin & Bitcoin derived ...

cara menghitung pendapatan btc bitcoin. This video is unavailable. Watch Queue Queue We take a look at profitability of USB miner solo mining Bitcoin and Litecoin. What are the chances to find a block on your own own of 12.5 BTC or 25 LTC. Ch... What it really takes to mine a Bitcoin in 10 Minutes. Firstly I'll show you a special free method to mine Bitcoin and send funds directly to your wallet in 1... On the right panel you will see a link to the "Bitcoin mining profitability calculator". Click on it. You will be presented with a set of variables upon which your profitability will depend. Step ... Learn how to mine Bitcoin with an Excel spreadsheet. Check out the following video for info on 21's Bitcoin computer, which can actually be used to mine Bitc...

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