Bitcoin Miner günstig kaufen eBay

Hockey Streams

Watch your favorite WHL, OHL, AHL, QMJHL and NCAA hockey games online with community provided streams.

Denarius - Tribus PoW/PoS Hybrid Cryptocurrency

Official subreddit for the Denarius [D] Cryptocurrency. Official Site: - Official Repo: - Discord Chat:

Denarius - Tribus PoW/PoS Hybrid Cryptocurrency

Official subreddit for the Denarius [DNR] Cryptocurrency

Antminer Bitcoin Miner S3, With Power Supply No Cover With It

Antminer Bitcoin Miner S3, With Power Supply No Cover With It submitted by Hellterskelt to bitcoin_is_dead [link] [comments]

Antminer Bitcoin Miner S3, With Power Supply No Cover With It

Antminer Bitcoin Miner S3, With Power Supply No Cover With It submitted by Rufflenator to 3bitcoins [link] [comments]

Antminer Bitcoin Miner S3, With Power Supply No Cover With It

Antminer Bitcoin Miner S3, With Power Supply No Cover With It submitted by ososru to Bitcoin4free [link] [comments]

Antminer Bitcoin Miner S3, With Power Supply No Cover With It

Antminer Bitcoin Miner S3, With Power Supply No Cover With It submitted by Leka213 to CryptocurrencyToday [link] [comments]

Bitcoin Miner – Bitmain Antminer S3 (PSU NOT INCLUDED) 440+ GH/s

Bitcoin Miner – Bitmain Antminer S3 (PSU NOT INCLUDED) 440+ GH/s submitted by ososru to Bitcoin4free [link] [comments]

Bitcoin Miner – Bitmain Antminer S3 (PSU NOT INCLUDED) 440+ GH/s

Bitcoin Miner – Bitmain Antminer S3 (PSU NOT INCLUDED) 440+ GH/s submitted by Rufflenator to 3bitcoins [link] [comments]

Bitcoin Miner – Bitmain Antminer S3+ (No PSU) 440 GH/s

Bitcoin Miner – Bitmain Antminer S3+ (No PSU) 440 GH/s submitted by ososru to Bitcoin4free [link] [comments]

Bitcoin Miner – Bitmain Antminer S3+ (No PSU) 440 GH/s

Bitcoin Miner – Bitmain Antminer S3+ (No PSU) 440 GH/s submitted by Rufflenator to 3bitcoins [link] [comments]

Solar Powered BitCoin S3 Bitmain Miner

Solar Powered BitCoin S3 Bitmain Miner submitted by _smudger_ to Bitcoin [link] [comments]

Any recommendations for getting a ant miner s3, and are there any good bitcoin pools? /r/Bitcoin

Any recommendations for getting a ant miner s3, and are there any good bitcoin pools? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin miner asic s3

submitted by Bitcoinplaats to bitcoinplaats [link] [comments]

Kepler 2020 LitePaper

Kepler 2020 LitePaper
Kepler is a blockchain privacy platform that aims to release the first ever Confidential Assets on a MimbleWimble Blockchain. Our consensus mechanism is Proof-of-Work. If you’d like to see more, please visit our website: as well as our documentation site at
You can check out our LitePaper here:

The Kepler LitePaper mentions:

  • Privacy Protection on Blockchain
  • Why Design Kepler
  • What is Kepler
  • Economic Model
  • Future Work
Given the fact that Kepler is a MimbleWimble(MW) blockchain, privacy is one of the most important topics for Kepler, and this goes beyond “simple privacy”.

Let’s begin and explore some of the highlights of the Kepler LitePaper!

Confidential Transactions (CT)

CT were designed to restore privacy to blockchain transactions, as the LitePaper mentions, Bitcoin transactions aren’t private, they can be traced using publicly-available tools. The goal for CT is to restore privacy to blockchain transactions.

Native CT on Kepler MW

Privacy has been a major topic in blockchain technology in the past decade, there’s been several technological approaches towards providing true privacy, without sacrificing scalability and functionality. Over time, there was a loss of interest towards privacy technology on blockchain, that is, until MimbleWimble technology came along. Thanks to MimbleWimble, there is a way to improve privacy without sacrificing functionality, and in the meantime, MW allows for better scalability.
Remember, there are no addresses used in Kepler!

Confidential Assets (CA)

Perhaps one of the most exciting topics in recent blockchain development, it will allow users to create multiple asset types without exposing both the asset type and transaction amount publicly.

Moving towards the future of Privacy

The best way to launch Confidential Assets is on a blockchain built for privacy. Having semi-anonymous backbone infrastructure that cannot scale is not a good starting point for development.

CA already in Testnet

Our development team has been working for months and plans to launch a working test network soon. We will be release development updates regularly, and we encourage feedback.

WhitePaper coming up soon after the LitePaper

We chose a Proof-of-Work (PoW) consensus mechanism for a variety of reasons. This article could get lengthy if we go into too much detail, but we’ll discuss this a bit.
An ASIC PoW algorithm is fair for miners, even ones who invested in multiple graphics cards. There will always be a coin for them to mine with their hardware. Hashrate rental services even the playing field for everyone. Most individuals cannot mine as cheap as they rent because of electricity costs. Not to mention the upfront cost of the hardware, shipping, customs and other fees like cooling and electrical work. Renters like using these services because they don’t need to trust their mining pool nor do they have to take custody of their coins or pay exchange fees.

Economic Model

Cryptocurrencies are far more divisible than fiat currency. Think of it as a dollar with a million pennies. Finding an economic model that works is something polite society will never stop debating. The trick is to make currency scarce enough so that it has value, but rare enough that so that everyone has access to it.


submitted by keplernetwork to KeplerNetwork [link] [comments]

Learning about bitcoin

I don't really understood or wanted to understand bitcoin or any other crypto currency as I didnt see the benefit it can bring to me. I still don't see the benefit that it can bring to me, however I realized that its the future and my children would benefit from it. Anyway to cut a very long story short a friend of mine whos been in to bitcoin for a while decided to educate me on it on a drunken night out, obviously i didn't really care to listen so he decided to teach me a lesson.
He gave me an antminer s3 and a link to this group. He said make a wallet set the miner up and for my hard work he will give me some parts of a btc ...
Now after a whole day of reading through articles and everything I'm still there where i started.
So my question is did my friend just wanted to make fun of me by giving me some old hardware ?
This stuff still working and im just looking in the wrong places for information?
Is there anyone who can help me set it up to teach him a lesson ?:))
Thanks for all the feedback even the ones who will take the piss as im sure there will be plenty :)
submitted by aCo0okie to Bitcoin [link] [comments]

⚡ Lightning Network Megathread ⚡

Last updated 2018-01-29
This post is a collaboration with the Bitcoin community to create a one-stop source for Lightning Network information.
There are still questions in the FAQ that are unanswered, if you know the answer and can provide a source please do so!

⚡What is the Lightning Network? ⚡


Image Explanations:

Specifications / White Papers


Lightning Network Experts on Reddit

  • starkbot - (Elizabeth Stark - Lightning Labs)
  • roasbeef - (Olaoluwa Osuntokun - Lightning Labs)
  • stile65 - (Alex Akselrod - Lightning Labs)
  • cfromknecht - (Conner Fromknecht - Lightning Labs)
  • RustyReddit - (Rusty Russell - Blockstream)
  • cdecker - (Christian Decker - Blockstream)
  • Dryja - (Tadge Dryja - Digital Currency Initiative)
  • josephpoon - (Joseph Poon)
  • fdrn - (Fabrice Drouin - ACINQ )
  • pmpadiou - (Pierre-Marie Padiou - ACINQ)

Lightning Network Experts on Twitter

  • @starkness - (Elizabeth Stark - Lightning Labs)
  • @roasbeef - (Olaoluwa Osuntokun - Lightning Labs)
  • @stile65 - (Alex Akselrod - Lightning Labs)
  • @bitconner - (Conner Fromknecht - Lightning Labs)
  • @johanth - (Johan Halseth - Lightning Labs)
  • @bvu - (Bryan Vu - Lightning Labs)
  • @rusty_twit - (Rusty Russell - Blockstream)
  • @snyke - (Christian Decker - Blockstream)
  • @JackMallers - (Jack Mallers - Zap)
  • @tdryja - (Tadge Dryja - Digital Currency Initiative)
  • @jcp - (Joseph Poon)
  • @alexbosworth - (Alex Bosworth -

Medium Posts

Learning Resources


Desktop Interfaces

Web Interfaces

Tutorials and resources

Lightning on Testnet

Lightning Wallets

Place a testnet transaction

Altcoin Trading using Lightning

  • ZigZag - Disclaimer You must trust ZigZag to send to Target Address

Lightning on Mainnet

Warning - Testing should be done on Testnet

Atomic Swaps

Developer Documentation and Resources

Lightning implementations

  • LND - Lightning Network Daemon (Golang)
  • eclair - A Scala implementation of the Lightning Network (Scala)
  • c-lightning - A Lightning Network implementation in C
  • lit - Lightning Network node software (Golang)
  • lightning-onion - Onion Routed Micropayments for the Lightning Network (Golang)
  • lightning-integration - Lightning Integration Testing Framework
  • ptarmigan - C++ BOLT-Compliant Lightning Network Implementation [Incomplete]


Lightning Network Visualizers/Explorers



Payment Processors

  • BTCPay - Next stable version will include Lightning Network




Slack Channel

Discord Channel


⚡ Lightning FAQs ⚡

If you can answer please PM me and include source if possible. Feel free to help keep these answers up to date and as brief but correct as possible
Is Lightning Bitcoin?
Yes. You pick a peer and after some setup, create a bitcoin transaction to fund the lightning channel; it’ll then take another transaction to close it and release your funds. You and your peer always hold a bitcoin transaction to get your funds whenever you want: just broadcast to the blockchain like normal. In other words, you and your peer create a shared account, and then use Lightning to securely negotiate who gets how much from that shared account, without waiting for the bitcoin blockchain.
Is the Lightning Network open source?
Yes, Lightning is open source. Anyone can review the code (in the same way as the bitcoin code)
Who owns and controls the Lightning Network?
Similar to the bitcoin network, no one will ever own or control the Lightning Network. The code is open source and free for anyone to download and review. Anyone can run a node and be part of the network.
I’ve heard that Lightning transactions are happening “off-chain”…Does that mean that my bitcoin will be removed from the blockchain?
No, your bitcoin will never leave the blockchain. Instead your bitcoin will be held in a multi-signature address as long as your channel stays open. When the channel is closed; the final transaction will be added to the blockchain. “Off-chain” is not a perfect term, but it is used due to the fact that the transfer of ownership is no longer reflected on the blockchain until the channel is closed.
Do I need a constant connection to run a lightning node?
Not necessarily,
Example: A and B have a channel. 1 BTC each. A sends B 0.5 BTC. B sends back 0.25 BTC. Balance should be A = 0.75, B = 1.25. If A gets disconnected, B can publish the first Tx where the balance was A = 0.5 and B = 1.5. If the node B does in fact attempt to cheat by publishing an old state (such as the A=0.5 and B=1.5 state), this cheat can then be detected on-chain and used to steal the cheaters funds, i.e., A can see the closing transaction, notice it's an old one and grab all funds in the channel (A=2, B=0). The time that A has in order to react to the cheating counterparty is given by the CheckLockTimeVerify (CLTV) in the cheating transaction, which is adjustable. So if A foresees that it'll be able to check in about once every 24 hours it'll require that the CLTV is at least that large, if it's once a week then that's fine too. You definitely do not need to be online and watching the chain 24/7, just make sure to check in once in a while before the CLTV expires. Alternatively you can outsource the watch duties, in order to keep the CLTV timeouts low. This can be achieved both with trusted third parties or untrusted ones (watchtowers). In the case of a unilateral close, e.g., you just go offline and never come back, the other endpoint will have to wait for that timeout to expire to get its funds back. So peers might not accept channels with extremely high CLTV timeouts. -- Source
What Are Lightning’s Advantages?
Tiny payments are possible: since fees are proportional to the payment amount, you can pay a fraction of a cent; accounting is even done in thousandths of a satoshi. Payments are settled instantly: the money is sent in the time it takes to cross the network to your destination and back, typically a fraction of a second.
Does Lightning require Segregated Witness?
Yes, but not in theory. You could make a poorer lightning network without it, which has higher risks when establishing channels (you might have to wait a month if things go wrong!), has limited channel lifetime, longer minimum payment expiry times on each hop, is less efficient and has less robust outsourcing. The entire spec as written today assumes segregated witness, as it solves all these problems.
Can I Send Funds From Lightning to a Normal Bitcoin Address?
No, for now. For the first version of the protocol, if you wanted to send a normal bitcoin transaction using your channel, you have to close it, send the funds, then reopen the channel (3 transactions). In future versions, you and your peer would agree to spend out of your lightning channel funds just like a normal bitcoin payment, allowing you to use your lightning wallet like a normal bitcoin wallet.
Can I Make Money Running a Lightning Node?
Not really. Anyone can set up a node, and so it’s a race to the bottom on fees. In practice, we may see the network use a nominal fee and not change very much, which only provides an incremental incentive to route on a node you’re going to use yourself, and not enough to run one merely for fees. Having clients use criteria other than fees (e.g. randomness, diversity) in route selection will also help this.
What is the release date for Lightning on Mainnet?
Lightning is already being tested on the Mainnet Twitter Link but as for a specific date, Jameson Lopp says it best
Would there be any KYC/AML issues with certain nodes?
Nope, because there is no custody ever involved. It's just like forwarding packets. -- Source
What is the delay time for the recipient of a transaction receiving confirmation?
Furthermore, the Lightning Network scales not with the transaction throughput of the underlying blockchain, but with modern data processing and latency limits - payments can be made nearly as quickly as packets can be sent. -- Source
How does the lightning network prevent centralization?
Bitcoin Stack Exchange Answer
What are Channel Factories and how do they work?
Bitcoin Stack Exchange Answer
How does the Lightning network work in simple terms?
Bitcoin Stack Exchange Answer
How are paths found in Lightning Network?
Bitcoin Stack Exchange Answer
How would the lightning network work between exchanges?
Each exchange will get to decide and need to implement the software into their system, but some ideas have been outlined here: Google Doc - Lightning Exchanges
Note that by virtue of the usual benefits of cost-less, instantaneous transactions, lightning will make arbitrage between exchanges much more efficient and thus lead to consistent pricing across exchange that adopt it. -- Source
How do lightning nodes find other lightning nodes?
Stack Exchange Answer
Does every user need to store the state of the complete Lightning Network?
According to Rusty's calculations we should be able to store 1 million nodes in about 100 MB, so that should work even for mobile phones. Beyond that we have some proposals ready to lighten the load on endpoints, but we'll cross that bridge when we get there. -- Source
Would I need to download the complete state every time I open the App and make a payment?
No you'd remember the information from the last time you started the app and only sync the differences. This is not yet implemented, but it shouldn't be too hard to get a preliminary protocol working if that turns out to be a problem. -- Source
What needs to happen for the Lightning Network to be deployed and what can I do as a user to help?
Lightning is based on participants in the network running lightning node software that enables them to interact with other nodes. This does not require being a full bitcoin node, but you will have to run "lnd", "eclair", or one of the other node softwares listed above.
All lightning wallets have node software integrated into them, because that is necessary to create payment channels and conduct payments on the network, but you can also intentionally run lnd or similar for public benefit - e.g. you can hold open payment channels or channels with higher volume, than you need for your own transactions. You would be compensated in modest fees by those who transact across your node with multi-hop payments. -- Source
Is there anyway for someone who isn't a developer to meaningfully contribute?
Sure, you can help write up educational material. You can learn and read more about the tech at You can test the various desktop and mobile apps out there (Lightning Desktop, Zap, Eclair apps). -- Source
Do I need to be a miner to be a Lightning Network node?
No -- Source
Do I need to run a full Bitcoin node to run a lightning node?
lit doesn't depend on having your own full node -- it automatically connects to full nodes on the network. -- Source
LND uses a light client mode, so it doesn't require a full node. The name of the light client it uses is called neutrino
How does the lightning network stop "Cheating" (Someone broadcasting an old transaction)?
Upon opening a channel, the two endpoints first agree on a reserve value, below which the channel balance may not drop. This is to make sure that both endpoints always have some skin in the game as rustyreddit puts it :-)
For a cheat to become worth it, the opponent has to be absolutely sure that you cannot retaliate against him during the timeout. So he has to make sure you never ever get network connectivity during that time. Having someone else also watching for channel closures and notifying you, or releasing a canned retaliation, makes this even harder for the attacker. This is because if he misjudged you being truly offline you can retaliate by grabbing all of its funds. Spotty connections, DDoS, and similar will not provide the attacker the necessary guarantees to make cheating worthwhile. Any form of uncertainty about your online status acts as a deterrent to the other endpoint. -- Source
How many times would someone need to open and close their lightning channels?
You typically want to have more than one channel open at any given time for redundancy's sake. And we imagine open and close will probably be automated for the most part. In fact we already have a feature in LND called autopilot that can automatically open channels for a user.
Frequency will depend whether the funds are needed on-chain or more useful on LN. -- Source
Will the lightning network reduce BTC Liquidity due to "locking-up" funds in channels?
Stack Exchange Answer
Can the Lightning Network work on any other cryptocurrency? How?
Stack Exchange Answer
When setting up a Lightning Network Node are fees set for the entire node, or each channel when opened?
You don't really set up a "node" in the sense that anyone with more than one channel can automatically be a node and route payments. Fees on LN can be set by the node, and can change dynamically on the network. -- Source
Can Lightning routing fees be changed dynamically, without closing channels?
Yes but it has to be implemented in the Lightning software being used. -- Source
How can you make sure that there will be routes with large enough balances to handle transactions?
You won't have to do anything. With autopilot enabled, it'll automatically open and close channels based on the availability of the network. -- Source
How does the Lightning Network stop flooding nodes (DDoS) with micro transactions? Is this even an issue?
Stack Exchange Answer

Unanswered Questions

How do on-chain fees work when opening and closing channels? Who pays the fee?
How does the Lightning Network work for mobile users?
What are the best practices for securing a lightning node?
What is a lightning "hub"?
How does lightning handle cross chain (Atomic) swaps?

Special Thanks and Notes

  • Many links found from awesome-lightning-network github
  • Everyone who submitted a question or concern!
  • I'm continuing to format for an easier Mobile experience!
submitted by codedaway to Bitcoin [link] [comments]


They say birds of a feather flock together and apparently that now includes butterflies. I recently came across a new crypto/hardware company, AMMBR, doing an ICO that contains at least 7 former members of the infamous Butterfly Labs company in varying capacities.
Interestingly enough, my curiosity was peaked piqued as a family member who was involved with BFL mentioned this project on Facebook and I automatically knew there had to be a connection to BFL because that family member knows practically nothing about cryptocurrency. Unfortunately, it seems he has not learned from his mistakes and is still participating in shady, possibly illicit activities, along with many of his former butts!
I’m now going to connect the dots for you to the people associated with SCAMMBR to show beyond a reasonable doubt that they are a quasi-reincarnation of BFL.
If you go to their website,, you can see their team members. Here are some of note:
1.) FORMER BFL Chief Technology Officer: Nasser Ghoseiri
Nasser was the Iranian living in France and one of the three named defendants in the case brought against BFL by the FTC which BFL lost.
2.) FORMER BFL VP of Marketing: Jeff Ownby
Jeff is the infamous character who pulled the trick of buying surreptitiously and then chanigng the negative articles to positive. Jeff isn’t listed on the official site, but he’s always worked behind the scenes from my experience as he was never listed as a BFL employee either. While he doesn’t list BFL on his LinkedIn profile, it’s fairly obvious when you read his experience at ForceStream.
3.) FORMER BFL Marketing Manager: Jurie Pieterse
Jurie is Jeff’s right-hand man and took over my position after it changed hands once since I left. Wherever Jeff goes, Jurie seems to follow, even on one of their new ventures:
SCAMMBR CONNECTION: Chief Marketing Officer
Jason was brought in at BFL when the redesign of the BitForce series needed to be done due to heat issues and for a variety of other design issues.
SCAMMBR CONNECTION: Electro-Mechanical Design & Testing Engineer
BFL used Ankur Patel and his company PCB Overnight for their boards in the miners. These boards suffered numerous problems and could not be produced in the quantity needed.

Guess who else is on the team? After checking out their team page, I saw a photo with a few familiar faces. Wanna know who they are?
1.) Third from the left is The Infamous Josh Zerlan, aka Inaba, aka u/NitroWolf, aka BagO’Dicks, former VP of Product Dev at BFL, and now apparently consulting or a part of SCAMMBR according to the “Projects” section of his LinkedIn profile:
2.) Four spots to the right of Josh is The Infamous Dave “The Knife” Mcclain, aka "THE MOLE", former BFL Account Manager, who seems to be a part of it as well as he is pictured on their website with their team in a photo which also includes Josh. Not sure what he does there as he has little understanding of cryptocurrency or just about any technical development since the VCR.

SCAMMBR was originally founded in 2017.
However it had two main issues which found itself on the dead coin list until it was recently resurrected, one being lack of interest/exchange listings and the other being a major security vulnerability in the smart contract, and the third being that anything BFL touches turns to shit.
ISSUE ONE: According to the Coinopsy link above, among other interesting reasons, they proclaimed that: “Ammbr was founded in 2017 and is not trading on any exchanges. Was added to the dead coins list due to the fact they did not reach any exchanges after one year and they canceled the ICO.”

While this bug affected many ERC-20 contracts, on July 8th, 2018, “John Wick Security Lab revealed highly risky transactions in AMMBR(AMR) contract. It contains an integer overflow bug that could be made use of by hackers calling batchTransfer(), resulting in transferring out tokens without limits.”
This can be seen in this tweet by SCAMMBR where they had to change the smart contract:

After doing further research on the SCAMMBR website, because nothing BFL is involved with is ever like it seems, I found some suspect/fake/front companies and astroturfing.
By all accounts, that sub is highly suspected of astroturfing by shills, employees and their families. Very few posts concern the actual project and the mods are mostly absent. All of the posts repeat the same lines or hashtags, but no comments. Mod u/Jory- doesn't post much in cryptocurrency subs, while u/AMMBRPlatform has never posted.

This is one of my favorite finds as it didn't occur to me until after doing most of my research, but then it clicked suddenly that I knew the design.
SCAMMBRTECH posted on Bitcointalk on 7/16/18 regarding a new mobile wallet that has yet to come to market, the Blackbird Hardware Wallet. I had never heard of it and apparently, they wanted $299 for it from their shop. Which is...ridiculous. But let's compare the Blackbird Wallet to the BFL Bitsafe that was never released:
So there you have it folks. Fuck these guys. I spent way to much time on this shit.
submitted by techknowledgy to Buttcoin [link] [comments]

How much would four of these mini bitcoin machines cost?

How much would four of these mini bitcoin machines cost? submitted by asis27912393 to Bitcoin [link] [comments]

Intersecting and competing interests of miners vs. investors

This post is pure speculation but it's something that I've been thinking about for a while. This post is informational - it's not a quick FUD/FOMO analysis. However, I do make a case for being a long-term bull (i.e. years).
There are two major groups with large individual resources: miners and crypto investors. These aren't your general traders, these are large, multi-million dollar groups (or larger). Let's look at motivations of both to see how it can relate to prices.
Crypto Miners
Miners obviously want maximum profit. There are several ways to do this:
Note that Bitcoin's difficulty is at all-time high. Litecoin too. Increased difficulty means the same equipment will take longer to generate the same reward. Also note that with the upcoming halving - coming in a month for Litecoin and next year for Bitcoin - the reward for each crypto will significantly decrease. This means that - all else being equal - the profit for miners will drop significantly (temporarily, at least).
The other news is that your typical miner isn't making a lot of money. Like many other examples, economies of scale come into play and your big investors that have large facilities and equipment are the ones making more money. This means more power in the hands of fewer people who have a larger investment with their various interests. How is an individual going to compete with something like this?
Also note that when the crypto market fell at the end of 2017, miner manufacturers had losses due to lack of new buyers. This led to a collapse in prices for various ASIC equipment and related hardware. This does affect stock market prices. Although crypto hardware isn't exactly a huge profit center, check out stock prices for AMD, Intel, and NVidia for the last 5 years. You'll see articles like this and this that support my conclusions. Someone could dig more into this to get better numbers.
Crypto Investors
Crypto investors (the whales), don't really care as much about buying vs. selling - they can profit in either move in the price. However, shorting is risky and shorting crypto is very risky so more are likely to err on the side of growth. It also benefits them for any large swing in prices as opposed to steady growth. They want the market to continue to grow since if it shrinks, it can be destroyed and their profits will go away. They also don't want the market to get too large too fast but some things are beyond their control once they overheat. They're frustrated since they want to pump a lot of money into this - for massive profits - but this attention will be noticed. For instance, if some whale invests $50b into Bitcoin, it'll cause havok on the market and the prices so they have to have relatively small investments. The big institutions want to throw more money into it but they know that if they do, the market will get out of hand. Being noticed invites unwanted regulations and this leads to loss of control and, likely, lower prices with less opportunity.
Note that the interests of both miners and investors sometimes overlap. For instance, miners want the crypto price to be higher so they have higher profits. Investors will also receive the rewards through higher prices.
However, sometimes their interests are in conflict. For instance, if I was running a mining business and I had some resources, here's what I see: an increasing rise in costs due to higher ASIC prices, lower reward due to higher difficulty, and lower reward due to halving.
What's my solution? I would:
You can see how investors could be working for this where some miners could get money together to hire professional traders to do this. Same with companies like AMD, Intel, NVidia, and others (ex: Samsung) who stand to make a lot of money selling this equipment.
The simple problem with crypto is for it to succeed:
The only solution is for the miners - and their suppliers - to continue to pump crypto prices higher to maximize their profits... indefinitely. Investors help out with raising prices but they also help when the market overheats and they cash out and/or short. A market crash temporarily helps miners who can now buy cheaper equipment.
We've all seen charts like these. How else can you explain such projectors (due to past history)? You do that with the continued - almost mathematically calculated - rises and falls in prices over time. If you add in difficulty, ASIC prices, and miner profitability, I'm sure you'll see a pattern. Larger difficulty (i.e. more costs) and higher hardware prices require higher crypto prices for miners to continue to be in business. Considering the market is still relatively small, it's easier to manipulate for higher prices.
submitted by SsurebreC to LitecoinTraders [link] [comments]

Using an s3 to start mining. Worth it?

Hi there, first of all, i'm starting in this mining world, so i dont have any experience. I live in a place where the electricity and the internet is practically free (under 1$ a month on a 2mb connection and power bill)
Is it worth it to buy an s3 to start mining? I Can wait 5-6 months for it to star making a profit and then buying another one to make a bit more money.
Thank you and sorry for my bad english!
submitted by photoHarv to BitcoinMining [link] [comments]

I will blow your mind with an explanation of why cryptos are valuable that you've never heard before

The question many people have been asking is "what does crypto do that fiat doesn't?" and there have been many different answers. I will posit a new answer today, and that answer is that blockchain is simply a vastly more efficient means of trust than any existing system known to humanity.
What is trust and why is it important? This question is something everyone feels the answer to, but few are able to explain because there is huge network of assumptions that humans have developed regarding trust. Going through each assumption is a hugely intensive task that would take weeks of meditation to verify, so most people simply live with the assumptions their parents gave them and trust the people and entities that those assumptions conclude with.
But as with any new technology, assumptions may change over time as humanity discovers they are incorrect. In regards to assumptions about trust, let us first question who we traditionally trust and why. Cryptos are currently analogous to something like money, so let us look at money's trust mechanisms first.
If an average person goes to work today, and they get paid for that work, they will ask their employer to deposit that money into a bank account. Now why exactly would a typical person decide to use a bank? Wouldn't it cost less to take the money home as cash, put it under a mattress, and then take some money out of the mattress every day to pay for expenses? The reason people don't do that is because it would create a scenario where burglary would be extremely lucrative. The chances of getting caught would far outweigh an almost assured pay day of a month or more's wage for 30 minutes of work. To solve that problem, we as a society began a system of communal private security for money called banking. In effect, we have through history developed trust that other entities can protect our money better than we can, which may still be true even today!
Going on about banking, today banking does not get the majority of its revenue from the people it is providing security to because crime has dropped to its lowest level in all of history. The rewards for crime are at an all time low and costs are at an all time high because many new technologies make security much easier. Instead banks use a system of creating revenue from passive income on other people's money to fund the bulk of their security costs. It is actually a rather good system considering the history of humanity. In a sense it is like how google provides a lot of excellent free services, and then pays for it by selling you other company's services and products (advertising).
But what if you as an individual could make passive income on your own money and not require any physical security to do it? Detaching the loaning side of banking from the security side of banking for a moment, the cost of a bank's fees plus the cost of lost time value of money is probably quite considerable for an average person -- banking costs are perhaps 10% of income per year or more for an average American family -- $4,000 or so.
Have you ever looked at a bank building and wondered what exactly they are doing in there? Take a look at this picture
Maybe that building and all the employees in it is where all of these hidden costs are going? The incredible revenue of the banking industry has to come from somewhere, and more importantly someone.
If you consider that we as a people have created a $2T revenue per year industry out of securing our money, what would happen if we no longer had to trust anyone to secure it at all?
Enter cryptocurrency, a technology that decreases the cost of securing value by 99%. The massive efficiency improvement is largely caused by replacing physical security with information security. Storing cryptocurrency is effectively free. The largest cost in cryptocurrencies is the process by which value is transferred from one person to another.
The blockchain methodology of value transfer uses a consensus approach to verify transactions. The game that miners play while mining blocks is sort of like a captcha (the image puzzles on web forms) to verify whether a miner is honest, so people using the network can trust in a completely anonymous miner. The "captcha" in this case is spending units of real value -- power -- that will only return on investment if the miner participates honestly with the rest of the network.
This process of trust verification through mining is claimed to be inefficient by some. A chart is in the link below, and I want you to carefully note the cost of power for bitcoin's mining operations -- $2.3B.
Compare that number to the amount of revenue we spend collectively on banking services, and you will find it is actually a rather low number (1/1000th) for the price of security. How does this translate into environmental impact? Contrary to many off-the-cuff opinions, it is actually a huge reduction in environmental impact compared to the traditional banking sector.
It is a matter of fact that technology is eliminating the need to transport things and people around, and that is causing improvements to the environment. Moving physical beings and objects around with vehicles consumes tremendous amounts more energy than moving information. Furthermore, office buildings are not efficiently used (they are empty for 2 our of 3 hours of a day), and require a huge amount of resources to build and maintain.
Here is a study recently published that shows the environmental impact of technology:
"Americans are spending more time at home: 8 more days in 2012 versus 2003"
"1.8% of 2012 national energy demand was reduced due to activity tradeoffs"
If you consider the wider impacts of cryptocurrency that includes moving value away from banks, causing them to downsize, the positive environmental impacts of cryptocurrency are huge.
For these reasons, I am buying more cryptocurrency every day and investing in businesses surrounding cryptocurrency. There is a very large risk regarding regulation and an implosion of debt that could cause serious blocks to acquiring and selling crypto, but to me these blocks are sure to be only in parts of the world and will only be around for a limited period of time. The benefits to crypto are impossible for economies to resist in the long term.
Buy some VTC today! It is the best crypto for trust, and trust is the fundamental value of crypto.
submitted by 1ncehost to vertcoin [link] [comments]

How good is an Antminet s3 plus?

Sorry, but I cannot find out.
How much would I make with one?
submitted by vsou812 to BitcoinMining [link] [comments]

I mined the top comments from every "Daily Discussion" thread on /r/BitcoinMarkets since 2014 & indexed their URL's for easy access. Check it out!

Hey all -
Like many of you, I read the "Daily Discussion" threads on /bitcoinmarkets and /ethtrader. A week or two back, I decided it'd be smart/valuable to mine the top comments for each daily thread with the goal of eventually enabling sentiment analysis & scoring via machine learning.
As of today, I have data going back to January 2014 for Bitcoin and March 2016 for Ethereum. I have the URL for every daily thread indexed, and built a simple web app dashboard so you can easily find a particular day's content:
Screenshot (for those on mobile):
The raw comments are stored in a MySQL RDS instance:
So for those of you who wanna reminisce, or dig in the archives, I've hopefully made it a little easier to go back in time. For kicks, here's are a few of the gems to remind you just how far we've come:
For any data scientists with experience in NLP that see this and wanna collaborate on that aspect, don't hesitate to reach out! I'm working on making each day's data available for download from S3 in a .csv.gz or similar for ingestion into ML frameworks.
Feedback is always welcome. There's a couple donation links in the 'About' modal if you feel inclined to buy me a beer (not gonna spam them here).
submitted by ARRRBEEE to BitcoinMarkets [link] [comments]

Top post on /r/bitcoin about high transaction fees. 709 comments. Every time you click "load more comments," there is nothing there. How many posts are being censored? The manipulation of free discussion by /r/bitcoin moderators needs to end yesterday.
ceddit version:
Some of the censored comments below. Note that this do not included the hundreds of comments which were filtered by automoderator before they could see the light of day (those comments are not readable with ceddit).
Jeff Garzik and Sergio Lerner (security expert) already said upgrading to 2mb is safe.
Can you quantify the decrease in security that is likely/possible from raising the maximum block size allowed from 1MB to 2MB?
The problem is that no one has any way to realistically estimate how transaction fees will change with larger block sizes, and ultimately all of the security will soon come from transaction fees. Here's a reply I added lower down the thread: This is the tragedy of the commons at play. Individuals are demanding lower transaction fees because they want to pay less, but they ignore what the transaction fees pay for.
An average 600 byte transaction will cost the network around 6 cents to store for the next few hundred years. I calculated that from S3 storage and bandwidth prices, assumed the price of storage and bandwidth continued to drop by 1.5% per year, and assumed we stay at ~5000 full history Bitcoin nodes, and changing the assumptions don't change much since most of the cost comes within the next 15 years anyway.
But more importantly, transaction fees are needed to pay for miners to secure the network from attackers. As the Bitcoin network grows more popular and stable, it will become a bigger target for countries or high net worth organizations that want to manipulate it like a stock. If they amass a huge sum of money and short the Bitcoin net worth for X% of its total value, there needs to be enough mining power to make a 51% attack (mining farm built for the purposes of driving down the price to profit from the short) not viable. There can only be enough mining power if the total sum of transaction fees picks up where the block reward drops off.
There's a way to estimate the mining rewards versus the total Bitcoins that would have to be shorted to be a viable attack. The price of Bitcoin drops out of the equation and within 5 years the total number of Bitcoins becomes (effectively) static as well, so that leads to this rough estimation table:
Our current transaction fees are ~100 btc per day. If they don't increase, someone would only have to gain a profit of 2% of the total net worth to justify building a mining farm that would 51% attack the currency. With leveraged shorting and high-net-worth organizations, that's fucking nothing. We start to be in real danger if transaction fees haven't increased by ~2028.
Gorgamin wrote:
The biggest supercomputer on Earth doesn't work for free unfortunately. If you don't own any mining equipment (which is expensive) or run a node, you can't complain.
to which FantomLancer responded, and had post [removed]:
It is not a good argument or analogy. The price is now dis-attached due to a civil war on how to scale, which is a serious problem that deserves som attention, not some simple phrase about supercomputers.
BashCo wrote:
Segwit will provide a substantial increase to on chain scaling but is being blocked for political reasons. Bitcoin won't be ready for primetime for at least a few more years.
to which WiseAsshole responded and had post [removed]:
No it won't. Miners are not adopting it. It stalled at 24%, just like Bitcoin stalled at 1mb.
Chillingniples had this post [removed]:
I also feel this way. when I got into the community in 2012 there was way more wildly optimistic idealism. It felt like we were really onto something revolutionary here. The longer I have stuck around the more I realized 99 percent of the community is here for self gain. It's a little sad now that when i hear people talking about how btc is going to help all these third world populations and etc, & I can plainly see there are zero solutions in that regard at the moment, that people are saying these things out of greed. They really don't care about people in third world countries. they mainly just want their btc to be worth more. I started my btc journey a very naive idealist, totally convinced we'd soon have our own huge bitcoin economy where people have finally decided to stop supporting the petro dollar and funding the war machine etc etc... but now I realize that idea sounds batshit insane to most people (even a lot of people involved with btc) and not to mention would be an extremely dangerous and volatile thing to attempt to do on a societal scale.
approx- had this post [removed]:
56MB blocks are not unfeasible for the future. Bandwidth is doubling roughly every 18 months. Other computer hardware is still progressing as well. 8MB blocks are completely feasible TODAY. 56MB blocks should be feasible within 5 years.
Ultimately, we need adjustable block sizes (adjustable without hard forks) so that it can adapt to current hardware/bandwidth availability.
nthterm had this post [removed]:
no. stop pricing out the poounbanked. we don't need to maintain HW requirements of running a node at 2008 levels indefinitely. The unbanked don't need to be able to run a node to make onchain transactions. If you moderately scale bitcoin so that it can accomodate increased user adoption, then # of global nodes will increase due to a larger user base. capiche?
eqleric had this post [removed]:
Good thing someone along the line has the ability to convert it to $4800, huh? To most people, saying "my 5 btc transaction only cost .00025 btc" is meaningless. In short, it's only clean money because someone went through those channels that you're mocking to convert it
Xanather had this post [removed]:
Its not a "global censorship resistant payment system". Its P2P money as defined by the whitepaper. Censorship exists on many of the communication mediums that discuss bitcoin.
chinacrash had this post [removed]:
If Core was serious about bitcoin we would already have a date for a blocksize increase.
bunny4u15 had this post [removed]:
There is a bit wrong, it's a soft fork... SegWit is the problem.
submitted by BeijingBitcoins to btc [link] [comments]

How Much Money Can An ANTMINER S3 Earn You? Antminer S3 (Bitcoin;SHA-256;440GH/s) Mining Rig Noob's Guide To Bitcoin Mining - Super Easy & Simple - YouTube Antminer S1 / S2 / S3 Bitcoin Asic Setup Instructions s3 antminer Asic Status Miner configuration

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How Much Money Can An ANTMINER S3 Earn You?

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