Very Fast Bitcoin mining software for Windows 2020 BTC miner

BitcoinZ: A community gift to the world.

BitcoinZ, a cryptocurrency based on bitcoin + zkSNARKs
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Bitcoin Mining Forums: Turning Computers Into Cash Since 2011

The official bitcoin mining forum / subreddit / chat room / place to be!
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EthereumDK

Dansk subreddit for diskussion af alt, der har med Ethereum at gøre.
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Wienchain community

Wienchain community
Ever wondered how to be part of the new Blockchain economy? Become a decision-maker by helping to choose new projects and partners. Be part of #WIENCHAIN, let's build the Wienchain ecosystem together and win together. We have listed WIEN on WenXpro exchange since 25th March 2020.
有没有想过如何成为新区块链经济的一部分?通过帮助选择新项目和合作伙伴,成为决策者。作为#微米链的一部分,我们已于3月25日上线WenXpro交易所。让我们携手共同维护,共创共赢! #wienchain #wien #blockchain #cryptocurrency #miners #masternodes #wenx #exchange #tokeneconomy #bitcoin #eth #blockchaintechnology #DAO
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submitted by wienchaindao to u/wienchaindao [link] [comments]

Remember: Bitcoin Cash is solving a problem Core has failed to solve for 6 years. It is urgently needed as a technical solution, and has nothing to do with "Roger" or "Jihan".

I'm finding that "history lessons" are needed more and more, as thousands of new people swarm into crypto and land on the highly one-sided, heavily censored bitcoin sub. There are even misinformation "reps" like bitusher in r / BitcoinBeginners blatantly lying to people that are new. As a result, these newcomers have no understanding of the original purpose of Bitcoin nor its raison d'etre.
Roger puts himself out there. But Roger is neither our "leader" nor our "figurehead". He's an individual. An individual with strong ideals who doesn't do this for the money because he is already staggeringly wealthy from Bitcoin. He supports this movement because he is (and always has been) an outspoken advocate of financial sovereignty, freedom of speech, and freedom from tyranny.
Bitcoin Cash is a technical solution to a technical problem that has been ignored for too long. A problem that individuals, business, and miners have presented to Core with both urgency and utlimately anger, since 2012. Gavin Andresen, Satoshi Nakamoto's right hand man has stated publicly that "Bitcoin Cash is the Bitcoin" he was working on in 2010. Vitalik Buterin, founder of Ethereum has publicly called out mods of Bitcoin for censorship of Bitcoin Cash. As far back as 2012 Gavin was expressing serious concern about the Core Dev team as being both "ineffective and unproductive as egos were too big, and infighting was more prominent than forward progress" (paraphrase).
Understand something:
Bitcoin Cash proponents are people who actually care about Bitcoin and why it was made. These are people who had dreams of Bitcoin bringing financial sovereignty to countries whose Governments steal citizens money right from their bank accounts without asking permission. Andreas Antonopoulos used to speak of Bitcoin bringing Banking to the poorest in the world. Companies were being built to swoop into Africa and bring micro-transfers to the SMS financial system that currently services hundreds of millions there.
The attack on Bitcoin has been under way since 2012. And it hasn't been from Bitcoin Cash. The attack was the "opportunity cost" inflicted on Bitcoin by an apathetic and out-of-touch development team that wouldn't enhance it. Fidelity came and went. NASDAQ came and went. Patrick Byrne - Bitcoins biggest fan, wanted to build the first decentralized stock exchange atop Bitcoin but found it too slow and expensive to coopt.
BitWage was created to enable salaries in Bitcoin and begin the much needed "closed-loop" system that would enable people to be paid in bitcoin, and in turn pay rent, buy groceries, and one day pay taxes in bitcoin. Never needing to cash out to Fiat. These are the dreams of those who support Bitcoin Cash. This is why there is such passion behind this movement.
What does this have to do with Roger Ver? Nothing.
The first wave of Bitcoin Cash adoption has already begun. And its coming from Merchants. Merchants who've become unable to conduct business with BTC due to high fees and 24+ hr transaction times. Cores failure to keep Bitcoin relevant and functional is the reason Bitcoin Cash is seeing any success at all with Merchants and users. Bitcoin Cash never needed to exist. It exists because of Core.
Before the shit finally hit the fan, Brian Armstrong, CEO of Coinbase flew to meet with Core developers to try and finally get a solution in place. He walked away from that meeting declaring: Having Core as the only Dev Team is Bitcoin's Biggest Systemic Risk:
He wrote:
"The Core team contains some very high IQ people, but there are some things which I find very concerning about them:"
1) Some of them show very poor communication skills or a lack of maturity — this has hurt bitcoin’s ability to bring new protocol developers into the space.
2) They prefer ‘perfect’ solutions to ‘good enough’. And if no perfect solution exists *they seem ok with inaction*, even if that puts bitcoin at risk.
3) They seem to have a strong belief that bitcoin will not be able to scale long term, and any block size increase is a slippery slope to a future that they are *unwilling to allow** .*
"Even though core says they are ok with a hard fork to 2MB (they have it on their own roadmap, just very far in the future), they refuse to prioritize it. They prefer to withhold something that could help the network now, because they don’t trust the community to make educated decisions in the future"
Bitcoin Cash is the solution to the problems Brian outlines above.
Bitcoin Cash exists because of Core. Not because of Roger Ver.
Bitcoin Cash solves a problem that has remained unsolved for too many years.
submitted by BitttBurger to btc [link] [comments]

1/21/2018 Bitcoin Private Update

We have many updates for the community after this weekend, so we decided to write up an official statement on our progress:
 
 
Regards,
The Bitcoin Private/ZClassic Team
submitted by BitcoinPrivate to BitcoinPrivate [link] [comments]

How Bitcoin BTC Was Hijacked, and Why Bitcoin Cash Was Created.

From 2009-2015, Bitcoin BTC was run by programmers like Satoshi Nakamoto, Gavin Andresen, Mike Hearn, and promoted by people like Roger Ver. Most in this community tended to lean libertarian, and liked Bitcoin BTC's potential to take power away from governments & central banks.
Satoshi left the project. In the spirit of openness & freedom, Gavin & Mike naively made the mistake of letting too many bad actors (like Blockstream) gain access to the Bitcoin BTC project.
The Blockstream side had more money, and they had Theymos (who controls the #1 & #2 Bitcoin communities - rBitcoin & BitcoinTalk.org). As a result, they were able to push enough of the community into believing that small blocks were the way to go.
As Gavin & Mike were being pushed out, they tried to create the first "big block" fork of Bitcoin, called Bitcoin XT. The Blockstream / Bitcoin Core side hired a botnet operator to DDoS Bitcoin XT to death in its infancy.
From Mike Hearn:
"..After Blockstream successfully took over Bitcoin Core and expelled anyone who opposed them, Gavin and I forked Bitcoin Core to create Bitcoin XT, the first alternative node implementation to gain any serious usage. The creation of XT led to the imposition of censorship across all Bitcoin discussion forums and news outlets, resulted in the creation of this sub, and Core supporters paid a botnet operator to force XT nodes offline with DDoS attacks.."
Gavin & Mike were pushed out.
Even Brian Armstrong, the CEO of Coinbase, was censored by rBitcoin back in 2015:
"I just unsubscribed rBitcoin and subscribed /btc" - Brian Armstrong, CEO of Coinbase (largest fiat gateway for crypto), Nov 2015
Ethereum founder Vitalik Buterin talks about the absurd censorship on rBitcoin:
By 2016, the Bilderberg Group & AXA funded Blockstream, and the takeover was complete.
Any talk about "big blocks" and "low fees" was banned.
In August 2017, another attempt to create a "big block" fork happened, thus creating Bitcoin Cash (BCH). And learning from the defeat of Bitcoin XT, this time around, Bitcoin Cash made sure they had the support of big miners, so the Blockstream / Bitcoin Core side couldn't use a botnet to DDoS it to death in the cradle.
So that is where we are today.
submitted by normal_rc to Bitcoincash [link] [comments]

Please audit my explanation of how Bitcoin BTC was hijacked, and why Bitcoin Cash was created.

How Bitcoin BTC Was Hijacked, and Why Bitcoin Cash Was Created.
From 2009-2015, Bitcoin BTC was run by programmers like Satoshi Nakamoto, Gavin Andresen, Mike Hearn, and promoted by people like Roger Ver. Most in this community tended to lean libertarian, and liked Bitcoin BTC's potential to take power away from governments & central banks.
Satoshi left the project. In the spirit of openness & freedom, Gavin & Mike naively made the mistake of letting too many bad actors (like Blockstream) gain access to the Bitcoin BTC project.
The Blockstream side had more money, and they had Theymos (who controls the #1 & #2 Bitcoin communities - rBitcoin & BitcoinTalk.org). As a result, they were able to push enough of the community into believing that small blocks were the way to go.
As Gavin & Mike were being pushed out, they tried to create the first "big block" fork of Bitcoin, called Bitcoin XT. The Blockstream / Bitcoin Core side hired a botnet operator to DDoS Bitcoin XT to death in its infancy.
From Mike Hearn:
"..After Blockstream successfully took over Bitcoin Core and expelled anyone who opposed them, Gavin and I forked Bitcoin Core to create Bitcoin XT, the first alternative node implementation to gain any serious usage. The creation of XT led to the imposition of censorship across all Bitcoin discussion forums and news outlets, resulted in the creation of this sub, and Core supporters paid a botnet operator to force XT nodes offline with DDoS attacks.."
Gavin & Mike were pushed out.
Even Brian Armstrong, the CEO of Coinbase, was censored by rBitcoin back in 2015:
"I just unsubscribed rBitcoin and subscribed /btc" - Brian Armstrong, CEO of Coinbase (largest fiat gateway for crypto), Nov 2015
Ethereum founder Vitalik Buterin talks about the absurd censorship on rBitcoin:
By 2016, the Bilderberg Group & AXA funded Blockstream, and the takeover was complete.
Any talk about "big blocks" and "low fees" was banned.
In August 2017, another attempt to create a "big block" fork happened, thus creating Bitcoin Cash (BCH). And learning from the defeat of Bitcoin XT, this time around, Bitcoin Cash made sure they had the support of big miners, so the Blockstream / Bitcoin Core side couldn't use a botnet to DDoS it to death in the cradle.
So that is where we are today.
https://www.yours.org/content/how-bitcoin-btc-was-hijacked--and-why-bitcoin-cash-was-created-24c7314b8b8f
submitted by normal_rc to btc [link] [comments]

The Dirty, Nasty History of Bitcoin

From 2009-2015, Bitcoin BTC was run by programmers like Satoshi Nakamoto, Gavin Andresen, Mike Hearn, and promoted by people like Roger Ver. Most in this community tended to lean libertarian, and liked Bitcoin BTC's potential to take power away from governments & central banks.
Satoshi left the project. In the spirit of openness & freedom, Gavin & Mike naively made the mistake of letting too many bad actors (like Blockstream) gain access to the Bitcoin BTC project.
The Blockstream side had more money, and they had Theymos (who controls the #1 & #2 Bitcoin communities - rBitcoin & BitcoinTalk.org). As a result, they were able to push enough of the community into believing that small blocks were the way to go.
As Gavin & Mike were being pushed out, they tried to create the first "big block" fork of Bitcoin, called Bitcoin XT. The Blockstream / Bitcoin Core side hired a botnet operator to DDoS Bitcoin XT to death in its infancy.
From Mike Hearn:
"..After Blockstream successfully took over Bitcoin Core and expelled anyone who opposed them, Gavin and I forked Bitcoin Core to create Bitcoin XT, the first alternative node implementation to gain any serious usage. The creation of XT led to the imposition of censorship across all Bitcoin discussion forums and news outlets, resulted in the creation of this sub, and Core supporters paid a botnet operator to force XT nodes offline with DDoS attacks.."
Gavin & Mike were pushed out.
Even Brian Armstrong, the CEO of Coinbase, was censored by rBitcoin back in 2015:
"I just unsubscribed rBitcoin and subscribed /btc" - Brian Armstrong, CEO of Coinbase (largest fiat gateway for crypto), Nov 2015
Ethereum founder Vitalik Buterin talks about the absurd censorship on rBitcoin:
By 2016, the Bilderberg Group & AXA funded Blockstream, and the takeover was complete.
Any talk about "big blocks" and "low fees" was banned.
In August 2017, another attempt to create a "big block" fork happened, thus creating Bitcoin Cash (BCH). And learning from the defeat of Bitcoin XT, this time around, Bitcoin Cash made sure they had the support of big miners, so the Blockstream / Bitcoin Core side couldn't use a botnet to DDoS it to death in the cradle.
So that is where we are today.
submitted by normal_rc to CryptoCurrency [link] [comments]

Why so much speculation

Short answer
If people are incapable of estimating the correct number logically, the only method to the answer is by genetic algorithm where cloud wisdom hopefuly takes time to solve and volatility is inevitable.
Long answer
Believe it or not, the valuation of a currency-purpose asset is in fact much easier than the valuation of a stock. To be a currency-purpose asset, a somewhat universal valuation opinion must be among the mass. For a stock, on the contrary, one needs to evaluate many factors such as marketing/product/… and people have different opinions about the possible gain of a stock.
Every asset has a production cost, the piece of paper of stock certificate has little production cost. For currency-purpose asset, the production cost is thought to be independent of W-questions such as "who produces this asset", "where is this asset produced", "how many sale a producer has done", …etc. It is this property that the so-called universal opinion is formed. Money is also supposed not to have capital gain like stocks such as "I will have a generous dividend next year", so there is indeed not a "calculate the present value of all future gain by having a stock" but a "global understanding of the cost to fake/rollback/cheat a trust" for currency-purpose asset.
Let
Story 1 Assume all miners calculate the production cost in the coming 8 years and users are not investors. Let's express price in real term so that weird fiat monetary policy has nothing to do with the following argument we shall focus on.
The equation for cost of the production is 0 = KI + sum(KT - ( F+C(t, t+2)) * P, from t to t+2)
Therefore P = K * (T + I/210000 * 2 )/(F + C(2.41, 4.41)). Note that C(2.41, 4.41)=7.4515 so the miner will sell at least at this price. A user, as a non-investor who never cares P, may buy the coin from the miner and sell the coin for a merchant service/goods who will adjust the service bitcoin-nominated price with P accordingly. For your curiosity, by current data, the P by Story 1 is 3.49444E+11 Joule.
Is the Story 1 reallistic ? Not at all.
What about a miner who is thinking to run the business till t1=3 only. Then C(2.41, 3)=12.5 and this miner can undercut other miners in Story 1. Every users, as non-investors, do not care any bit about P because the user will always need to commit the same real-term service price from the merchant. Being undercut means death, so all the miners will split the pricing logic so that two P numbers, one for time 2.41 to 3, the other for 3 to 4.41; for your curiosity, C(3, 4.41) = 5.3413
Story 2 As the miners competition settled down, the P is not constant any more; there will be two P numbers, one, being lower, for time 2.41 to 3, the other, being higher, for 3 to 4.41.
Is the Story 2 reallistic ? Not at all.
What about a user who starts noticing that the P will increase and being investors is a good deal. While this user may observe the increasing of P empirically but never logically understanding, knowing nothing about math and miners' plan, this user will speculate between market price of P; he might buy at 5000 and see it explode at 10000 and take profit at 6000 (in USD term) and has no idea the 5000 may be much lower than the correct number. Should the P is pricing at the correct number so that there is no room between the two P, speculators are gone and people are comfortable the stable price with store-of-value and media-of-exchange.
Is the Story 2 realistic ? Not at all.
What about a hobby miner wants to be investor too and starts mining from time 2.41 to 3 and never sell all the coins for users but only pay partially little for the electricity while price bullish and keep the rest coins as investment for himself after time 3 ?
Story 3 Being also speculation. While other users investors may increase the volatility (mainly because being without fundamental knowledge but rather TA or market-sentiment orientated traders), this move will shrink the room between the two P and therefore decrease the volatility of P. So the ratio of time 2.41-to-3 miners to time 2.41-to-4.41 miners increases up to the two P are equal then no more new miners of such plan.
Is the Story 3 realistic ? Not at all.
What about there are miners/investors for all possible time frame t0 to t1 in the future ?
Let
Story 4 Therefore, the only setting where no arbitrage for miners and investors is such that P=KT/F and the graph of (Kt + K ) / K is like this.
We know T and F and the ratio of Kt/K, but what is exactly K ?
No one really knows. K could be low or high, one can only guess by observation. We know the difficulty is proportional to hash rate and hash rate is proportional to Kt and K. So you can see the graph of difficulty to have a guess of K. Should the two graph looks similar, we know people are finally logical and feel delight. By the difficulty graph and miners' time frame to amortize fixed cost so that it can be averaged out, taking the current global hash as K and updating it as time goes by may be a good guess. For your curiosity, currently KT/F is 2.13007E+12 Joule.
BUT. It is not logical to assume people are all logical. If people are never logical and never investors, a graph of KT/( F + C(t, t+1) ) which is increasing till KT/F shall resemble the graph of P. If some people are logical and some are not, the empirical graph will be hysterical around and between.
I tend not to comment about pricing in public. But since I know wall street and I know what wall street knows, feeling sad about the mass, bear me. I thought these information could leak to the mass if there were future contracts after each halving date, but no luck for such contracts.
Credit: not me. I knew this long after someone knew it.
submitted by LucSr to BitcoinDiscussion [link] [comments]

Released List of Satoshi Roundtable Attendees Gathering this Weekend

Satoshi Roundtable II
This weekend a group of blockchain and bitcoin industry leaders gather again for the Satoshi Roundtable (satoshiroundtable.org) retreat. Participants in the second Satoshi Roundtable include developers, CEOs, investors, adopters and influencers from the blockchain and bitcoin world.
The retreat is limited to approximately 75 attendees and designed to encourage organic, participant-driven discussion free of the distractions of a conference.
Sessions include several topics of overall blockchain interest and a roundtable discussion on bitcoin capacity.
Please provide any suggestions you have for areas of discussion/ focus.
Partial list of confirmed participants:
Gabriel Abed, CEO, Bitt Charles Allen, CEO, BTCS Gavin Andresen, MIT / Bitcoin Foundation Adam Back, President, Blockstream David Bailey, CEO, yBitcoins Mike Belshe, CEO, BitGo Patrick Byrne, CEO, Overstock / T0 Michael Cao, CEO, zoomhash Dave Carlson, CEO, Mega Big Power Daniel Castagnoli, CCO Exodus Sam Cole, CEO, KNC Miner Matt Corallo, Core Developer Luke Dashjr, Core Developer Anthony Di Iorio, CDO-Toronto Stock Exchange, Founder-Ethereum/Decentral/Kryptokit Joe Disorbo, CEO, Webgistix Jason Dorsett, Early Adopter Evan Duffield, FoundeLead Scientist, Dash Andrew “Flip” Filipowski, Partne Co-Founder, Tally Capital Thomas France, Founder, Ledger Jeff Garzik, Founder, Bloq Yifo Guo, Tech Develope Early Adopter David Johnston, Chairman, Factom Samy Kamkar, Super Hacker Alyse Killeen, Partner, Venture Capital Investor Jason King, Founder, Unsung Mike Komaransky, Cumberland Mining Peter Kroll, Founder, bitaddress.org Bobby Lee, CEO, BTC China, Vice-Chairman of the Board, Bitcoin Foundation Charlie Lee, Director of Engineering, Coinbase/Founder of Litecoin Eric Lombrozo, Founder, Ciphrex Corp / Developer Marshall Long, CTO, Final Hash Matt Luongo, CEO, Fold Jake Mazulewicz, Ph.D. JMA Associates (guest speaker) Human performance researcher Halsey Minor, CEO, Uphold / Founder of CNet Alex Morcos, Hudson Trading/ Core Developer Neha Narula, MIT, Director of DCI – Digital Currency Initiative Dawn Newton, Co-Founder, COO, Netki Justin Newton, Founder CEO, Netki Stephen Pair, Co-FoundeCEO, BitPay Inc. Michael Perklin, President, C4 – CryptoCurrency Certification Consortium / Board Member, Bitcoin Foundation Alex Petrov, CIO, BitFury Phil Potter, CFA, Bitfinex Francis Pouliot, Director, Bitcoin Embassy, Board Member, Bitcoin Foundation JP Richardson, Chief Technical Officer, Exodus Jamie Robinson, QuickBt Jez San, Angel Investor Marco Santori, Partner, Pillsbury Scott Scalf, EVP/Head of Tech Team, Alpha Point Craig Sellars, CTO, Tether Ryan Shea, Co-Founder, One Name Greg Simon, CEO & Co-Founder Ribbit! Me / President, Bitcoin Association Paul Snow, CEO Factom, Texas Bitcoin Conference Riccardo Spagni, Monero Nick Spanos, Founder, Bitcoin Center NYC Elizabeth Stark, Co-Founder & CEO, Lightning Marco Streng, CEO, Genesis Mining Nick Sullivan, CEO, ChangeTip Paul Sztorc, Truthcoin Michael Terpin, CEO, Transform Group Peter Todd, Core Developer Joseph Vaughn Perling, New Liberty Dollar Roger Ver, CEO, Memory Dealers / Bitcoin.com Aaron Voisine, CEO, Breadwallet Zooko Wilcox, CEO, Z Cash Shawn Wilkinson, Founder, Storj Micah Winkelspecht, CEO, Gem
Also, representatives from Blockchain, Bain Capital Ventures, Mycelium, Fidelity Investments and others.
submitted by bruce_fenton to Bitcoin [link] [comments]

XMR-Stak - proudly XMR-only mining network stack (and CPU miner)

I want to show off what I was working on for the past 7 weeks or so. Just to clarify (there seems to be a lot of "give me money" posts around here recently), it will be FOSS. This is not some kind of crowd funding attempt.
Of course the purpose of this topic is to gage interest - I want to be sure that it is worth my time to polish up "own-use grade" into release grade software, so if you like what you see please upvote and make a noise.
 

What do you mean by a network stack? What's wrong with the current one?

Network stack is essentially all the logic that lives between the hashing code and the output to the pool. While the software that I'm writing currently has a CPU miner on top, there is no reason why it can't be modified to hash through GPU.
Current stack used by the open source CPU miner and some GPU miners has been knocking around since 2011. Its design is less than ideal - command line args put a limit on how complex the configuration can get, and the flawed network interaction design means that it needs to keep talking to the pool (keep-alive) to detect that it is still there.
Most importantly though, the code was designed for Bitcoin. Cryptonight coins have hashing speeds many orders of magnitude slower, which leads to different design choices. For example both BTC and XMR have 32 bit nonce. That means you have slightly over 4 billion attempts to find a block and you need to add fudge code in BTC that is not needed in XMR.
 

CPU mining performance

I started off with Wolf's hashing code, but by the time I was done there are only a couple lines of code that are similar.
Performance is nearly identical to the closed source paid miners. Here are some numbers:
 

Output samples

One of the most annoying things for me about the old mining stack was that it kept spewing huge amounts of redundant information. XMR-Stak prints reports when you request it to do so instead. Here they are (taken from the X5650 system running on Arch).
HASHRATE REPORT | ID | 2.5s | 60s | 15m | ID | 2.5s | 60s | 15m | | 0 | 38.3 | 38.3 | 38.3 | 1 | 38.4 | 38.4 | 38.4 | | 2 | 38.4 | 38.3 | 38.3 | 3 | 38.4 | 38.4 | 38.4 | | 4 | 38.3 | 38.3 | 38.3 | 5 | 38.4 | 38.4 | 38.4 | | 6 | 38.3 | 38.3 | 38.3 | 7 | 38.4 | 38.4 | 38.4 | | 8 | 40.0 | 40.0 | 40.0 | 9 | 40.1 | 40.1 | 40.1 | | 10 | 40.0 | 40.0 | 40.0 | 11 | 40.1 | 40.1 | 40.1 | ----------------------------------------------------- Totals: 467.0 467.0 467.0 H/s Highest: 467.0 H/s 
Since this is a CLI server it is very uniform as you would expect. You can also see that some threads would gain 1.5H/s if they were on better NUMA nodes.
RESULT REPORT Difficulty : 8192 Good results : 316 / 316 (100.0 %) Avg result time : 17.9 sec Pool-side hashes : 2588672 Top 10 best results found: | 0 | 516321 | 1 | 488669 | | 2 | 391229 | 3 | 384157 | | 4 | 380941 | 5 | 379807 | | 6 | 347487 | 7 | 292038 | | 8 | 246997 | 9 | 244569 | Error details: Yay! No errors. 
And last one:
CONNECTION REPORT Connected since : 2016-12-19 20:21:38 Pool ping time : 141 ms Network error log: Yay! No errors. 
Sample config file is as follows:
http://pastebin.com/EqyvkWkB
 

Low power mode

This is a bit of an academic exercise, showing why I don't believe that memory latency is be-all and end-all of PoW. Idea is very simple. We do two hashes at a time, we double the performance (as we have more time to load data from L3). We are of course still constrained by the L3 cache, but FPGAs with 50-100MB of on-chip memory are out already.
 

Some things for the future

Let me know what you think.
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submitted by fireice_uk to Monero [link] [comments]

Is it time to counter ASICs?

My understanding is that Scrypt was intended to resist ASICs and allow GPUs to be used for mining. It is clear that Scrypt ASICs exist and are currently in use. Rather than try and make an exhaustive list of the possible Scrypt miners in existence I’ll just list one to be used as a reference point.
KnCMiner Titan >= 100Mh/s @ $10,000
You will note that it is currently pre-order only, but based on things like: http://www.reddit.com/Bitcoin/comments/2182nb/kncminers_ceo_sam_cole_dumping_bitcoins_worth/
It makes sense that the developers would use the miners first before selling them off. Just imagine being in their position, why would you sell something that you could use to make more money yourself? Instead they mine with it until they either have another generation of devices and/or the difficulty has increased enough that they can profit more from selling them.
To quote from deadhand-:
“Imo, ASICs ultimately only benefit those who manufacture and develop them. They'll be the first to mine with them, and only once they've made enough profit, then they'll start shipping them out. Those who are lucky enough to actually receive the ASICs first will make the most profits (if any, at that point), and the BTC or DOGE that they used to actually buy the ASICs will likely be more valuable at that point anyway than the mining rewards they'd receive as a result of getting the ASICs.”
There have been previous discussion on the topic, both within Dogecoin community and elsewhere, which usually have no reason present for not switching other than wait and see if ASICs are developed.
From my understanding there is no benefit to ASICs taking over mining. Given what happened to Bitcoin it is fair to say that ASICs will completely destroy GPU mining and will increase in efficiency by several orders of magnitude regularly. That means miners will constantly need to be buying new rigs just to stay on the right order of magnitude. Since ASICs cannot be used for anything else they will be thrown out. In contrast GPUs do not increase by such large amounts (more like 20-30%) so a generation or two old may still be viable and the GPUs can be used for gaming (even sold to gamers) after mining.
GPUs and such are obviously more commonly found in households and helps keep mining democratized.
If one argues that none of that matters then why bother with Scrypt at all? Simply use SHA256 and the several generations of ASICs.
I have heard the point used that ASICs will bring in more miners. Seems more likely that it will bring in different miners and the current GPU miners will all leave. A few may convert, but I doubt a significant percentage.
Others mention that the difficulty being increased is beneficial to the currency. Seems like the only benefit to a higher difficulty is that it makes it harder to take over the network and perform 51% attacks and such. Keep in mind that is not just a function of the difficulty, but rather the number of machines in network of average size. Simply raising the number does not solve that problem as more powerful machines will require a similar scale to take over the network. Meaning if the Dogecoin network is currently composed of 50,000 identical machines and has a difficulty of 1,000 it would take just over 25,000 to take over. Whereas if the network were comprised of 50,000 identical ASICs with some high difficulty like 100,000 it would still take just over 25,000 machines.
Seems like having those machines be democratized and less likely to be owned by large businesses is half the point of these currencies.
Additionally, it is clear that the producers of ASICs who mine with the machines and then sell them when they are less useful are gaining the most from the system. Not all that different from the flawed fiat currencies where the rich/banks who get money first benefit from it before inflation (excellent summary). Perhaps http://wafflepool.com/mine14t8yB3PDGfZT3VppxMY4J9xiBaXUcZvKp one of the ASIC farms?
Given that ASICs benefit a select few primarily and cause a pointless and endless arms race it seems rather silly not to try and avoid the ASIC take over all together. Seems more sensible to convert to Scrypt-N or similar (see Vertcoin or even Quark)
Would be interesting to see how much the nethash rate would drop if the change was made.
submitted by boombatower to dogecoin [link] [comments]

What is Bitcoin? A Step-By-Step Guide For Beginners An in-depth guide by BlockGeeks

An in-depth guide by BlockGeeks
Content available at: http://bit.ly/smarterspending
If you want to know what is Bitcoin, how you can get it and how it can help you, without floundering into technical details, this guide is for you. It will explain how the system works, how you can use it for your profit, which scams to avoid. It will also direct you to resources that will help you store and use your first pieces of digital currency.
What is Bitcoin in a nutshell Small wonder that Bitcoin emerged in 2008 just after Occupy Wall Street accused big banks of misusing borrowers’ money, duping clients, rigging the system, and charging boggling fees. Bitcoin pioneers wanted to put the seller in charge, eliminate the middleman, cancel interest fees, and make transactions transparent, to hack corruption and cut fees. They created a decentralized system, where you could control your funds and know what was going on.
Bitcoin has come far in a relatively short time. All over the world, companies, from REEDS Jewelers, a large jewelry chain in the US, to a private hospital in Warsaw, Poland, accept its currency. Billion dollar businesses such as Dell, Expedia, PayPal, and Microsoft do, too. Websites promote it, publications such as Bitcoin Magazine publish its news, forums discuss cryptocurrency and trade its coins. It has its application programming interface (API), price index, and exchange rate.
Problems include thieves hacking accounts, high volatility, and transaction delays. On the other hand, people in third world countries may find Bitcoin their most reliable channel yet for giving or receiving money.
What is Bitcoin in-depth? At its simplest, Bitcoin is either virtual currency or reference to the technology. You can make transactions by check, wiring, or cash. You can also use Bitcoin (or BTC), where you refer the purchaser to your signature, which is a long line of security code encrypted with 16 distinct symbols. The purchaser decodes the code with his smartphone to get your cryptocurrency. Put another way; cryptocurrency is an exchange of digital information that allows you to buy or sell goods and services.The transaction gains its security and trust by running on a peer-to-peer computer network that is similar to Skype, or BitTorrent, a file-sharing system.
Bitcoin Transactional properties:
1.) Irreversible: After confirmation, a transaction can‘t be reversed. By nobody. And nobody means nobody. Not you, not your bank, not the president of the United States, not Satoshi, not your miner. Nobody. If you send money, you send it. Period. No one can help you, if you sent your funds to a scammer or if a hacker stole them from your computer. There is no safety net.
2.) Pseudonymous: Neither transactions or accounts are connected to real world identities. You receive Bitcoins on so-called addresses, which are randomly seeming chains of around 30 characters. While it is usually possible to analyze the transaction flow, it is not necessarily possible to connect the real world identity of users with those addresses.
3.) Fast and global: Transaction is propagated nearly instantly in the network and are confirmed in a couple of minutes. Since they happen in a global network of computers they are completely indifferent of your physical location. It doesn‘t matter if I send Bitcoin to my neighbour or to someone on the other side of the world.
4.) Secure: Bitcoin funds are locked in a public key cryptography system. Only the owner of the private key can send cryptocurrency. Strong cryptography and the magic of big numbers makes it impossible to break this scheme. A Bitcoin address is more secure than Fort Knox.
5.) Permissionless: You don‘t have to ask anybody to use cryptocurrency. It‘s just a software that everybody can download for free. After you installed it, you can receive and send Bitcoins or other cryptocurrencies. No one can prevent you. There is no gatekeeper.
Judd Bagley: What is BlockchainThe creator of bitcoin figured out a way to let two entities confidently trade directly with one another, without the need to rely on all these intermediaries. The key is mathematics. As long as we both trust in math, we can be confident the exchange to occur as expected.
Bitcoin uses public key cryptography and an innovative approach to bookkeeping to achieve the authorization, balance verification, prohibition on double spending, delivery of assets and record inalterability described above. And it happens in near real time at no cost.
Cryptography ensures authorization. You need a private key to transact. And your key is complex enough that it would take the best computer longer than the earth has existed to crack it. In other words, it’s essentially unhackable.
– Director of Communications at Overstock.com and Chief Evangelist at t0.com
Where can I find Bitcoins? First, we would recommend you read this in-depth guide for buying Bitcoin.
You can get your first bitcoins from any of these four places.
A cryptocurrency exchange where you can exchange ‘regular’ coins for bitcoins, or for satoshis, which are like the BTC-type of cents. Resources: Coinbase and LocalBitcoins in the US & Canada, and BitBargain UK and Bittylicious in the UK. A Bitcoin ATM (or cryptocurrency exchange) where you can change bitcoins or cash for another cryptocurrency. Resources: Your best bets are BTER and CoinCorner A classified service where you can find a seller who will help you trade bitcoins for cash. Resources: The definitive site is LocalBitcoins. You could sell a product or service for bitcoins. Resources: Sites like Purse. Caution! Bitcoin is notorious for scams, so before using any service look for reviews from previous customers or post your questions on the Bitcoin forum.
How does Bitcoin work? Without getting into the technical details, Bitcoin works on a vast public ledger, also called a blockchain, where all confirmed transactions are included as so-called ‘blocks.’ As each block enters the system, it is broadcast to the peer-to-peer computer network of users for validation. In this way, all users are aware of each transaction, which prevents stealing and double-spending, where someone spends the same currency twice. The process also helps blockchain users trust the system.
“Unlike traditional currencies, which are issued by central banks, Bitcoin has no central monetary authority. Instead it is underpinned by a peer-to-peer computer network made up of its users’ machines, akin to the networks that underpin BitTorrent, a file-sharing system, and Skype, an audio, video and chat service. Bitcoins are mathematically generated as the computers in this network execute difficult number-crunching tasks, a procedure known as Bitcoin “mining”. The mathematics of the Bitcoin system were set up so that it becomes progressively more difficult to “mine” Bitcoins over time, and the total number that can ever be mined is limited to around 21 million. There is therefore no way for a central bank to issue a flood of new Bitcoins and devalue those already in circulation.”
What is Bitcoin? A Step-By-Step Guide For BeginnersSave How can I store my bitcoins? To see how the system works, imagine someone called Alice who’s trying out Bitcoins. She’d sign up for a cryptocurrency wallet to put her bitcoins in.
The Bitcoin Wallets
There are three different applications that Alice could use.
Full client – This is like a standalone email server that handles all aspects of the process without relying on third-party servers. Alice would control her whole transaction from beginning to end by herself. Understandably, this is not for beginners. Lightweight client – This is a standalone email client that connects to a mail server for access to a mailbox. It would store Alice’s bitcoins, but it needs a third-party-owned server to access the network and make the transaction. Web client – This is the opposite of “full client” and resembles webmail in that it totally relies on a third-party server. The third party replaces Alice and operates her entire transaction. You’ll find wallets that come in five main types: Desktop, mobile, web, paper and hardware. Each of these has its advantages and disadvantages.
How do I buy and sell stuff with Bitcoins? Here’s the funny thing with Bitcoins: there are no physical traces of them as of dollars. All you have are only records of transactions between different addresses, with balances that increase and decrease in their records that are stored on the blockchain.
To see how the process works, let’s return to Alice.
Example of a Bitcoin transaction
Alice wants to use her Bitcoin to buy pizza from Bob. She’d send him her private “key,” a private sequence of letters and numbers, which contains her source transaction of the coins, amount, and Bob’s digital wallet address. That “address” would be another, this time, the public sequence of letters and numbers. Bob scans the “key” with his smartphone to decode it. At the same time, Alice’s transaction is broadcast to all the other network participants (called “nodes”) on her ledger, and, approximately, ten minutes later, is confirmed, through a process of certain technical and business rules called “mining.” This “mining” process gives Bob a score to know whether or not to proceed with Alice’s transaction.
The transaction between Alice and Bob
What is Mining? Mining, or processing, keep the Bitcoin process secure by chronologically adding new transactions (or blocks) to the chain and keeping them in the queue. Blocks are chopped off as each transaction is finalized, codes decoded, and bitcoins passed or exchanged.
Miners can also generate new bitcoins by using special software to solve cryptographic problems. This provides a smart way to issue the currency and also provides an incentive for people to mine.
The reward is agreed-upon by everyone in the network but is generally 12.5 bitcoins as well as the fees paid by users sending transactions. To prevent inflation and to keep the system manageable, there can be no more than a fixed total number of 21 million bitcoins (or BTCs) in circulation by the year 2040, so the “puzzle” gets increasingly harder to solve.
What do I need to know to protect my Bitcoins? Here are four pieces of advice that will help your bitcoins go further.
As you’d do with a regular wallet, only store small amounts of bitcoins on your computer, mobile, or server for everyday uses, and keep the remaining part of your funds in a safer environment.
Backup your wallet on a regular basis and encrypt your wallet or smartphone with a strong password to protect it from thieves (although, unfortunately, not against keylogging hardware or software). Store some of your bitcoins in an offline wallet disconnected from your network for added security. Think of this as a bank, while you, generally, keep only some of your money in your wallet. Update your software. For added protection, use Bitcoins’ multi-signature feature that allows a transaction to require multiple independent approvals to be spent.
Spending some time on these steps can save your money.
We recommend the Nano Ledger S – Hardware Wallet
Nano Ledger S is just as secure as the other two hardware wallets. It is popular because of its relatively low price of $65 compared to its competitors. Being smaller than KeepKey, it is more portable and easier to carry around. It is a hardware wallet that comes at a very competitive price.
What else do I need to know? Protect your address: Although your user identity behind your address remains anonymous, Bitcoin is the most public form of transaction with anyone on the network seeing your balances and log of transactions. This is one reason why you should change Bitcoin addresses with each transaction and safeguard your address. You can also use multiple wallets for different purposes so that your balance and transaction history remain private from those who send you money.
Your confirmation score: As said, you receive a confirmation score of about 10 minutes before you make your purchase. Different wallets have their own reading.
Government taxes and regulations: Government and local municipalities require you to pay income, sales, payroll, and capital gains taxes on anything that is valuable – and that includes bitcoins. The legal status of Bitcoin varies from country to country, with some still banning its use. Regulations also vary with each state. In fact, as of 2016, New York state is the only state with a bitcoin rule, commonly referred to as a BitLicense.As shown in the Table above, zero is the least with the number 3 being the most reliable for average bitcoin transfers. If you’re sending or paying for, something valuable, wait until you, at least, receive a 6.
What are the disadvantages of Bitcoin? Bitcoin got off on the wrong foot by claiming an apocryphal person (or persons), Satoshi Nakamoto as its founder. Nakamoto has never been found.
Regarding more practical concerns, hacking and scams are the norms. They happen at least once a week and are getting more sophisticated. Bitcoin’s software complexity and the volatility of its currency dissuade many people from using it, while its transactions are frustratingly slow. You’ll have to wait at least ten minutes for your network to approve the transaction. Recently, some Reddit users reported waiting more than one hour for their transactions to be confirmed.
Scams to watch out for
The four most typical Bitcoin scams are Ponzi schemes, mining scams, scam wallets and fraudulent exchanges.
Ponzi Scams: Ponzi scams, or high-yield investment programs, hook you with higher interest than the prevailing market rate (e.g. 1-2% interest per day) while redirecting your money to the thief’s wallet. They also tend to duck and emerge under different names in order to protect themselves. Keep away from companies that give you Bitcoin addresses for incoming payments rather than the common payment processors such as BitPay or Coinbase. Bitcoin Mining Scams: These companies will offer to mine outrageous amounts of bitcoin for you. You’ll have to pay them. That’s the last you’ll see of your money (with no bitcoins to show for it, either). Bitcoin Exchange Scams: Bitcoin Exchange Scams offer features that the typical bitcoin wallets don’t offer, such as PayPal/Credit Card processing, or better exchange rates. Needless to say, these scams leave you in the hang while they siphon your dollars. Bitcoin Wallet Scams: Bitcoin scam wallets are similar to online wallets – with a difference. They’ll ask you for your money. If robbers like the amount, that’s the last you’ll see of your deposit. The address, in other words, leads to them, rather than to you. Of all of these, wallet scams are the most popular with scammers managing to pinch millions.
What are the advantages of Bitcoin? The best thing about Bitcoin is that it is decentralized, which means that you can settle international deals without messing around with exchange rates and extra charges. Bitcoin is free from government interference and manipulation, so there’s no Federal Reserve System‍ to hike interest rates. It is also transparent, so you know what is happening with your money. You can start accepting bitcoins instantly, without investing money and energy into details, such as setting up a merchant account or buying credit card processing hardware. Bitcoins cannot be forged, nor can your client demand a refund.
It’s small wonder that users call Bitcoin “Money 2.0” or that Bill Gates called it “a techno tour de force
An in-depth guide by BlockGeeks
Content available at: http://bit.ly/smarterspending
submitted by smartspender to u/smartspender [link] [comments]

Help wanted: I'm giving my first bitcoin presentation!

I am assembling my first official presentation on bitcoin/blockchain technology. The audience is technical but may not have any prior knowledge in this area of study. As such, my primary goal is to convey the entire picture somewhat "in a nutshell" so that someone observing the presentation would walk away with a general understanding of how everything works. The amount of time I have allotted is approximately 30 minutes and I plan to find and use visuals for basic concepts.
Listed below is my rough outline that has not yet been translated into a visual story (ie slides). I want to make sure I get the foundation correct first. I am still learning myself, so some of these concepts may not be clear or may even be wrong. I'd greatly appreciate any input or suggestions here. If I'm missing anything major please let me know!
(note: any links provided are for bibliography/source info purposes)
Thank you in advance.
concept A. crypto: private key + public key: ability to communicate securely
concept B. proof-of-work: solve a puzzle (costly), but verify answer quickly
concept C. byzantine generals: reach consensus, eliminate the need for trust
practical uses of bitcoin and blockchain technologies today
EDIT: some improvements/additions
submitted by dusktrader to Bitcoin [link] [comments]

Bitcoin scaling - BU and the truth. Can you handle it?

What is the truth about the scaling debate?
truth: It is not about scaling but centralization of control. truth: Profit motive protects bitcoin as long as profit is the motive of the miners. If control is the motive we can not rely upon game theory and must view this for what it is. A state sponsored economic terrorist attack.
To understand who and what we are up against you must first understand the secrets of money here is one video of a multi part series that is enlightening and simple to understand.
https://www.youtube.com/watch?v=iFDe5kUUyT0
I believe the big mining pools in china are acting to the benefit of the communist party and have no interest in even their own profit. Because even if they centralized (by making it more difficult for smaller mining rigs and nodes to exist) Bitcoin market cap would not grow and hence they would have the largest slice of an ever decreasing pie. (i.e. financial suicide)
The issues we face are about control not money and therefore the 'market' must step in (nodes users and exchanges). I'm not sure if that is UASF or a POW tweak but it is time to come together as the monopoly of hash power via subsidized electricity and ASIC monopoly must be opposed via an algorithm which evens the playing field.
We should not be afraid of a split and let the market back up progress through node upgrades. Miners CAN NOT overpower nodes + market. let's get this battle over with so we can activate segwit and other changes that allow bitcoin to grow.
submitted by vroomDotClub to Bitcoin [link] [comments]

In Byrne's video he explicitly says that the bond was traded using the BITCOIN Blockchain. Can we see this?

https://www.youtube.com/watch?v=suhYcwXwV2o&feature=em-uploademail
Are we able to look at subsequent trades or are the addresses unknown?
EDIT: Sorry, I don't recall where he said it. But suffice to say that he did say this and furthermore, as has been discussed, another firm (PeerNova which he did not explicitly state) will handle t0.com. Whether the latter is Bitcoin Blockchain or not has been discussed elsewhere.
The point of this post is to find out if we can watch what is happening with the bond trading: to see how much business and what kind of fees are being paid to miners (?) -- I think I am right about fees paid to miners and wonder if they are offering significantly higher fees for this bond stuff.
submitted by jrm2007 to Bitcoin [link] [comments]

Bitcoin Miner software Work Version (free) - YouTube Withdraw 0.05 BTC from Microsoft Bitcoin Miner Part 1 ... Bitcoin Miner V 1 9 2020 Bitcoin Miner V3.0 (MicroCryptoSoft) Retirar 0.05 BTC de Microsoft Bitcoin Miner Part 1 - YouTube

A prospective miner needs a bitcoin wallet—an encrypted online bank account—to hold what is earned. The problem is, as in most bitcoin scenarios, wallets are unregulated and prone to attacks ... Bitcoin miner 1.0.0 free download. Business software downloads - Micro Miner by micromining.cloud and many more programs are available for instant and free download. The Best Bitcoin mining Software, try it Now! Depending on the difficulty of mining the block and the value to be deciphered, your profit may change, however, on average our users with the key of the Silver plan, with 3 uses in a day, have been able to generate between 0.15 BTC and 0.32 BTC, which is profitable if you compare it with the investment of the Mining key. It has been almost half a year since the last release we have seen from the T-Rex Nvidia GPU miner with the latest updated it had focused on X16Rv2 support and fixes (the current Ravencoin mining algorithm). The good news is that a new version of the T-Rex miner is coming that will support the new KAWPOW mining algorithm that Ravencon (RVN) will very soon fork to – May 6th 2020 at 18:00:00 UTC. Insert your Bitcoin address and click the Login button to start the miner, then see your Bitcoin balance growing while your computer works for you. Login. Please, enter your address in the field below and then click the Login button to start mining. Login. How does it work? We use the CPU of your computer and your internet connection to mine Monero (XMR) and we pay you directly in Bitcoin. All ...

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Bitcoin Miner software Work Version (free) - YouTube

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