Mining hardware comparison - BitcoinWiki

/r/Monero - Newcomers Please Read. Everything You Need To Know.

What is Monero (XMR)?
Monero is a secure, private, untraceable (crypto-)currency. It is open-source and freely available to all. Don't believe us? Click here.
Monero is a tool that people can actually use. It makes receiving payments hassle-free, since merchants and individuals no longer need to fear the source of funds they are accepting. With transparent systems like Bitcoin, Ethereum, Verge, or Dash, these people need to hope (or spend substantial resources verifying) the sender did not use the funds illicitly. Furthermore, merchants do not want all their vendors known, and individually do not want everyone to know how much they are spending. If I spend more than I should at Newegg (store), that's my own business.
Monero is different because every transaction is always private. There is no way for pools and exchanges to opt out of sending private transactions. Thus, Monero's anonymity set far exceeds any other coin's anonymity set. Over 86,000 transactions in the past month of August, 2017 hid the sender and receiver, and about 99.95% of them also hid the amount (will increase to 100% of all new transactions in September)! There is no suspicion in using a private transaction, since all transactions are private. A single transaction does not stick out.*
This privacy is afforded with the best technology. I implore you to take a few minutes to learn about the four main technologies that Monero uses to provide privacy:
There are several other things that make Monero great! It has a smooth tail emission, dynamic blocks and fees, and an accessible Proof of Work (mining) algorithm.
*You can optionally choose a very large, unusual ringsize to make the transaction stick out. This is not recommended, and normal users who leave the ringsize at the default setting will not experience any issues. Also, it's possible for a user to manually add identifying information to the tx_extra field, which is something that a user must seriously go out of their way to do.
Now you know Monero (XMR) has the best technology. What else makes Monero (XMR) different than other cryptocurrencies?
P.S. Want a quick-start, simple your-grandma-could-do-it guide? Here's a great one!
Am I a bad person to consider using this?
No, Monero is freedom money. You can do whatever you want with it, whenever you want, where ever you want. We make it clear that you should own your wealth 100%. What you do with it, is none of our concern.
Where does the word Monero come from?
The word Monero comes from the language Esperanto. Monero means coin oand currency. The plural way of saying Monero in Esperanto and in our cryptocurrency is Moneroj.
How do I store Monero?
Monero Core
Monero Core GUI (If you don't know how to use it, click here for instructions and tutorial)
Monero Web-Wallet
Offline Wallet Generator
Is there a lightweight wallet for Monero?
Not yet, but you can use the official GUI with a remote node.
Are there any other ways to store Monero (XMR)?
Yes, there are many mobile wallets out there that allow you to store Monero (XMR). We do not recommend them, because they are not official releases of Monero. If you do decide to use other wallets, please make sure to do your research first before storing any Moneroj in the wallet. Anything used for Monero outside of official releases, will be used at your own risk. Some may be used for scamming purposes. If you still decide to take the risk; do not use them for large amounts. Also keep in mind that there is a high chance that Monero support will not be able to help you if you bump into any problems from applications outside of official releases. Why should you not use non-official wallets? Well would you buy a house and give your only key you have to the buildemanagement and wait for him/her to open the door to the house you supposedly own? No. Same goes with cryptocurrencies. You should always have possession of your private keys, and your Moneroj. Most non-official releases own your private keys, therefore you do not own the Moneroj.
How do I buy Monero (XMR) with fiat?
Kraken
Bitfinex
Monero For Cash
Local Monero
Other Options
Which exchanges support Monero (XMR)?
Poloniex
Bithumb
Kraken
Bitfinex
Bittrex
Bitsquare
ShapeShift
Livecoin
BTER
How do I setup a offline cold paper wallet?
Step-by-step guide for cold storage and offline transaction signing with optimal security
Guide For Securely Generating An Offline Cold Paper Wallet
USB Monero Cold Wallet Guide
Is there a Chinese translation so I can understand Monero? 是否有中文翻译,以便我能理解Monero?
Monero (XMR) Chinese Translation
Can I buy Monero (XMR) with CNY? 我可以用人民币买Monero吗?
BTER
*Can I buy Monero (XMR) with KRW?
Bithumb
Where can I find a good mining pool?
Monero Pools
What miner should I use?
CPU:
XMR-Stak (Windows-Linux)
CpuMiner by tpruvot (Windows, Linux)
CpuMiner By Wolf
xmr-stak (MacOS)
cpuminer(MacOS) By correcthorse
GPU:
XMR-stak (AMD)
Ccminer (nVidia) by KlausT, psychocrypt, and fireice-uk
Claymore's CryptoNote GPU Miner (AMD)
If you are a Windows user, click here.
Can I use a proxy for mining?
You can use XMR Proxy. If you want to monitor your rigs you can use Monero Mining Monitor.
How can I setup a local wallet while running node with little bandwidth?
You can use GUI, as a remote node as it uses very little bandwidth. Go to settings tab and change: "localhost:18089" to "node.moneroworld.com:18089". If you are still having problems, then just use our Monero Web-Wallet.
Can I run Monero through Tor or I2P?
Guide to use Monero with Tor correctly
Monero Safety Through Tor
Monero I2P
My vendor only accepts bitcoin but I only have Monero, and I know bitcoin is not private/anonymous. What should I do?
Use XMR.TO, but you should also educate them about bitcoins lack of privacy. Tell them to visit this post.
How long does it take to sync to the blockchain?
It can take from a few hours (using SSD drive) or even 24 hours, depending on hard drive and connection speed.
How do I generate a QR-code for a Monero address?
How to generate a QR code for a Monero address
Moneroqrcode.com for a personalized code
Guide to check balance
List of scams: (Always do a background check / research for anything outside of official releases.)
Did you know over 50 high profile artists accept Monero on their online stores? Check out Project Coral Reef
Are there any other sub-reddits that specialize in certain parts of Monero or just related to Monero?
Yes, there are a few. However, please keep in mind that this sub-reddit (/Monero) is the official Monero sub-reddit.
/xmrtrader - Trading, and investing related discussions & inquires.
/MoneroMining - Mining related discussions & inquires.
/MoneroCommunity for those who want to help grow the community.
/moonero for shitposts and memes.
/MoneroMarket for buying and selling wares for Monero.
/MoneroSupport for, you guessed it, Monero support.
Want to get involved? Click here for a list of sources.
How can I participate in the Monero community?
We welcome everyone to join us and help out. Check the "Community Info" section on our subreddit for our website, forum, stack exchange, github, twitter, and facebook. Anyway, we hope you stick around beyond the hype. Monero has a lot going for it, and we hope you agree! We really need your help, since this project is entirely driven by the community!
Nun vi spertis liberecon.
submitted by cryptonaire- to Monero [link] [comments]

ethtrader Glossary of Terms

I recently introduced a friend to our humble, little subreddit and they quickly pointed out that the language spoken here did not appear to be English. I suppose we do toss around a fair amount of acronyms, memes, and slang. I put together a quick glossary of terms for them and figured I should post it here in case any other new ethtraders can benefit from it:

Trading Related:

Crypto-currency related, but not really specific to Ethereum:

Terms more specific to Ethereum

Memes:

Any mistakes I made? Any terms you would add?
submitted by Basoosh to ethtrader [link] [comments]

How to get $100 million in VC funding to build an industry that makes $300 million profit without spending a dime

Yesterday I received an unexpected gift: a link to a copy of the slides of the presentation that 21inc gave to investors, apparently between October and December 2014, when they were still calling themselves "21E6".
(The sender asked to remain anonymous, and I am not sure about the copyright status of the file; so I would rather not repost it here yet. But it seems that several other people, including some of the 21inc competitors, have got a copy too; so anyone who is really interested can probably get it too.)
The slides don't have much new factual information, and basically confirm what we already guessed about the 21inc business plans. But they show that we severely underestimated their chutzpah and hype. Here are some random highlights (as far as I can decipher from the slides):
They had three relevant mining rig designs in the plans, that would require funding:
Codename Qty TH/s kW Cost Deploy Turnoff Profit($) --------------- ---- ---- --- ---- ------------ ----------- ----------- CyrusOne(v2), 7904 2.0 1.3 --- (already on) Apr 2015 ~23,000,000 IO(v1v3) 3250 5.2 1.3 2000 Jan 2015 Aug 2016 ~24,000,000 Brownfield(v3) 1900 5.5 1.3 2450 Mar 2015 > Nov 2017 ~20,000,000 
The "TH/s", "Cost", and "kW" columns are per "system", i.e. a mining unit containing many chips. The last column is the expected profit to be made from each set of mining hardware over its expected lifetime. (The slides have some other details that do not seem to be important.)
The first line is the hardware that they were mining with at the time of the presentation; that must be why the "Cost" (as far as investors are concerned) is given as zero.
The second line seems to be an upgrade of their previous mining hardware from v1 chips (which gave 2.7 PH/s total at the time) to v3 chips (which would give 17 PH/s) .
In reality, we have seen that their share of hashpower dwindled through all of 2015, and (AFAIK) they haven't mined a single block in the last six months. Were they still mining with CyrusOne on extra-life, or were they using the upgraded IO which was turned off prematurely? What happened to Brownfield?
However, their mining operations were secondary; the meat of their plan was the embedded chip, called BitSplit at the time.
The BitSPlit chip (as we suspected) was hard-wired to send 75% of the block reward to the 21inc wallet, whose address was burned in the silicon, and 25% to the user's wallet.
By my calculations, assuming 50 GH/s and no increase in the difficulty, the BitSplit would mine one block in 570 years, on average, and collect less than 2 BTC of reward in that time. So, of course, the chip was hard-wired to mine into a pool run by 21inc, that would spread the user's 25% of those 2 BTC (expected) into a daily regular trickle of a couple thousand satoshis. Their own mining operations would provide the BTC needed for the pool payouts of all the millions of chips that they expected to be running out there.
They projected to release 3 versions:
Model Qty GH/s W Cost Deploy Profit($) --------------- ---------- ---- -- ---- ------------ ------------ USB hub-charger 250,000 38 15 $35 Mar 2015 ~8,000,000 Embedded chip 1,000,000 63 15 $8 Aug 2015 ~103,000,000 BitSplit Inside 10,000,000 20 5 $0 Oct 2015 ~292,000,000 
The "Qty" is the expected number of units sold. The last column, IIUC, is the profit that 21inc expected to make from the 75% cut of the BTC produced by all the chips, over their expected lifetime.
In the above "USB hub-charger" model was a USB charging unit, roughly 3 x 2 x 1 inches, with 2 USB outputs and a mining chip inside, produced by 21inc themselves "to seed the market".
The second line, which I called "Embedded chip", seems to refer to discrete BitSplit chips provided by 21inc and included in consumer devices (like routers etc.) by OEM manufacturers.
The "BitSplit Inside" model would be the BitSplit integrated into the chipsets of other manufacturers, and manufactured by them. Its cost is listed as "$0" (for 21inc) because they expected those manufacturers to shoulder the cost of manufacturing and integrating the mining chip.
Apparently the market-seeding "USB hub-charger" was later replaced by the "Bitcoin Computer" (aka the PiTato). In one slide it is called "multifunctional BitSplit device", and depicted as a sleek shiny black box, the size of a cigarette pack, with a power cable and 2-3 USB or similar outputs. If that is supposed to be the PiTato, presumably they had not yet realized that a 15 w computer would need a cooling fan with a miniature wind tunnel on top.
In the last two entries, the manufacturers (not the device owners!) would be rewarded with the 25% slice of the BTC mined by those embedded chips. As an example, the slides say that a manufacturer who produced one quarter of the embedded BitSplits would get the 25% cut on the BTC yield of those chips, that was estimated to be between 2 and 4 million dollars per year of revenue in 2015--2018. Those numbers are based on the following predicted mean BTC prices: $350 for 2015, $1000 for 2016, $2200 for 2017, and $5500 for 2018.
So, their main business plan was fantastic: the OEM and chipset makers would pay the costs of producing and integrating the chips, the consumers would pay the cost of operating them, and 21inc would get 75% of all BTC mined by them, expected to be worth 400 million dollars.
It makes sense to invest 100 million in that plan, right?
EDIT1: Sentence order, typos.
EDIT2: See also this comment below about other sources of this info and this comment about a fatal flaw of the PiTato mining chip.
EDIT3: See also this comment with the data from slide 2, "At a glance"
submitted by jstolfi to Buttcoin [link] [comments]

New people please read this. [upvote for visibility please]

I am seeing too many new people come and and getting confused. Litecoin wiki isn't the greatest when it comes to summing up things so I will try to do things as best as I can. I will attempt to explain from what I have learned and answer some questions. Hopefully people smarter than me will also chime in. I will keep this post updated as much as I can.
Preface
Litecoin is a type to electronic currency. It is just like Bitcoin but it there are differences. Difference explained here.
If you are starting to mine now chances are that you have missed the Bitcoin mining train. If you really want your time and processing power to not go to waste you should mine LTC because the access to BTC from there is much easier.
Mining. What is it?
Let's get this straight. When making any financial commitment to this be prepared to do it with "throw away" money. Mining is all about the hashrate and is measured in KH/s (KiloHash/sec). Unlike the powerful ASICs (Application Specific Integrated Circuit) that are used to mine bitcoins using hashrates in the GH/s and even TH/s, litecoin mining has only been able to achieve at the very best MH/s. I think the highest I've seen is 130 MH/s so far. Which leads us to our next section.
Mining Hardware
While CPU mining is still a thing it is not as powerful as GPU mining. Your laptop might be able to get 1 a month. However, I encourage you to consult this list first. List of hardware comparison You will find the highest of processors can maybe pull 100 KH/s and if we put this into a litecoin mining calculator it doesn't give us much.
Another reason why you don't want to mine with your CPU is pretty simple. You are going to destroy it.
So this leaves us with GPUs. Over the past few months (and years) the HD 7950 has been the favourite because it drains less power and has a pretty good hashrate. But recently the introduction of the R9 290 (not the x) has changed the game a bit. People are getting 850 KH/s - 900 KH/s with that card. It's crazy.
Should I mine?
Honestly given the current difficulty you can make a solid rig for about $1100 with a hashrate of 1700 KH/s which would give you your investment back in about a month and a half. I am sure people out there can create something for much cheaper. Here is a good example of a setup as suggested by dystopiats
PCPartPicker part list / Price breakdown by merchant / Benchmarks
Type Item Price
CPU AMD Sempron 145 2.8GHz Single-Core Processor $36.01 @ Amazon
Motherboard ASRock 970 EXTREME4 ATX AM3+ Motherboard $99.48 @ OutletPC
Memory Crucial Ballistix Tactical Tracer 4GB (1 x 4GB) DDR3-1866 Memory $59.99 @ Newegg
Video Card Sapphire Radeon HD 7950 3GB Video Card (3-Way CrossFire) $245.38 @ Newegg
Video Card Sapphire Radeon HD 7950 3GB Video Card (3-Way CrossFire) $245.38 @ Newegg
Video Card Sapphire Radeon HD 7950 3GB Video Card (3-Way CrossFire) $245.38 @ Newegg
Power Supply SeaSonic Platinum 860W 80+ Platinum Certified Fully-Modular ATX Power Supply $146.98 @ SuperBiiz
Total
Prices include shipping, taxes, and discounts when available. $1078.60
Generated by PCPartPicker 2013-11-29 00:52 EST-0500
Estimated Hashrate (with GPU overclocking) : 1900 KH/s
Hardware Fundamentals
CPU - Do you need a powerful CPU? No but make sure it is a decent one. AMD CPUs are cheap to buy right now with tons of power. Feel free to use a Sempron or Celeron depending on what Motherboard you go with.
RAM - Try to get at least 4 GB so as to not run into any trouble. Memory is cheap these days. I am saying 4 GB only because of Windoze. If you are plan to run this on Linux you can even get away with less memory.
HDD Any good ol 7200 RPM hard drive will do. Make sure it is appropriate. No point in buying a 1TB hard drive. Since, this is a newbie's guide I assumed most won't know how to run linux, but incase you do you can get a USB flash drive and run linux from it thus removing the need for hard drive all toghether. (thanks dystopiats)
GPU - Consult the list of hardware of hardware I posted above. Make sure you consider the KH/s/W ratio. To me the 290 is the best option but you can skimp down to 7950 if you like.
PSU - THIS IS BLOODY IMPORTANT. Most modern GPUs are power hungry so please make sure you are well within the limits of your power consumption.
MOTHERBOARD - Ok, so a pretty popular board right now is Gigabyte GA-990FXA-UD3 and the ASRock 970 Extreme4. Some people are even going for Gigabyte GA-990FXA-UD5 and even the mighty Gigabyte GA-990FXA-UD7 because it has more PCI-E slots. 6 to be exact. However you may not need that much. With risers you can get more shoved into less.
PCI-E RISERS - These are called risers. They come in x16 to x16 and x1 to x16 connections. Here is the general rule of thumb. This is very important. Always get a POWERED riser otherwise you will burn a hole in your MoBo. A powered rise as a molex connector so that additional power from PSU can be supplied.
When it comes to hardware I've provided the most basic knowledge you need. Also, take a look at cryptobader's website. This is very helpful. Please visit the mining section of Litecoin Forums and the litecoinmining subreddit for more indepth info.
Mining Software
Now that you have assembled your hardware now you need to get into a pool. But before you do that you need a mining software. There are many different ones but the one that is most popular is cgminer. Download it and make sure you read the README. It is a very robust piece of software. Please read this if you want to know more. (thanks BalzOnYer4Head)
Mining Pools
Now that your hardware and software is ready. I know nothing about solo mining other than the fact that you have to be very lucky and respectable amount of hashing power to decrypt a block. So it is better to join pools. I have been pool hopping for a bit and really liked give-me-coin previously known to the community as give-me-ltc. They have a nice mobile app and 0% pool fees. This is really a personal preference. Take a look at this list and try some yourself.
How do I connect to a pool?
Most pools will give you a tutorial on how to but the basics are as follows:
  • Signup for a pool
  • Create a worker for your account. Usually one worker per rig (Yes people have multiple rigs) is generally a good idea.
  • Create a .run file. Open up notepad and type cgminer.exe -o (address_to_the_miningpool:port_number) -u (yourusername.workername) -p (your_worker_password_if_you_made_one). Then File>Save As>runcgminer.run (Make sure the drop down is set to "All Files" and .txt document.) and save in the same folder as cgminer. That's it.
  • Double click on runcgminer.run (or whatever you named it) and have fun mining.
Mining Profitability
This game is not easy. If it was, practically everyone would be doing it. This is strictly a numbers game and there are calculations available that can help you determine your risk on your investments. 4 variables you need to consider when you are starting to mine:
Hardware cost: The cost of your physical hardware to run this whole operation.
Power: Measured in $/KwH is also known as the operating cost.
Difficulty rate: To put it in layman's terms the increase in difficulty is inversely proportional to amount of coin you can mine. The harder the difficulty the harder it is to mine coin. Right now difficulty is rising at about 18% per 3 days. This can and will change since all you miners are soon going to jump on the band wagon.
Your sanity: I am not going to tell you to keep calm and chive on because quiet frankly that is stupid. What I will tell you not to get too carried away. You will pull you hair out. Seriously.
Next thing you will need is a simple tool. A mining profitability calculator. I have two favourite ones.
coinwarz
I like this one cause it is simple. The fields are self explanatory. Try it.
bitcoinwisdom
I like this one because it is a more real life scenario calculator and more complicated one (not really). It also takes increasing difficulty into account.
Please note: This is the absolute basic info you need. If you have more questions feel free to ask and or google it!
More Below.
submitted by craeyon to litecoin [link] [comments]

My headache with ASUS PRIME Z270-P

So i was looking to upgrade my mining rig from 4x1060's to 6 or more 1060's. I browsed this reddit, read the wiki, talked to some people, and they said that the Prime Z270-P is the way to go. So i bought a openbox one on Newegg (paid with Bitcoin, of course).
I also ordered "The Unique Rig" which is a great, cheap case for mining rigs that i found on ebay. I was gone for a few days, and when i came back, both the case and the motherboard had arrived. I built the case, switched everything over to the new motherboard and turned it on. Since i use Nvidia cards, i usually use cyclenerds OS, but i heard good things about ethOS, so i bought it. ethOS worked straight out of the box, but i was only getting 19MH/s with the cards. I tried every overclock setting i could think of, and most of the time it actually brought my hashing speed down, not up, and never did it get above 20MH/s with my cards. With cyclenerds i easily get 21MH/s, and if i want to push my cards i can get 23, maybe 24.
I formatted my flash drive and installed cyclenerds OS. I started the computer and i get a PCIe Bus error. I tried installing Ubuntu Server edition and same result. Its due to the BIOS having SecureBoot on, and with that motherboard there is no way to turn it off (that i could find). It fixable, but i have to type a option to ubuntu's grub everytime the computer restarts. That was just not feasible for me. Since i was using a USB flash drive as a hard drive, i couldn't install Windows. So i went back to my B250 Pro4 - which i after realized i can get 6 GPU's hooked up (8 maybe if i use the M.2 ports). Everything is working fine on that motherboard, and im selling the Z270 (look on /hardwareswap if you are interested).
submitted by Critical386 to EtherMining [link] [comments]

Guide For New Shibes

So it has become apparent to me from the constant questions on this subreddit that a lot of new miners/shibes need help, so I have decided to make a basic guide to most of the questions I see a lot here.
1) BTC - This means Bitcoin so If you see a miner that says BTC it does not work with dogecoin because dogecoin is Scrypt.
2) Scrypt - This is what dogecoin runs off of, or what your computeasic/gpu solves to support the network.
3) Asic - This stands for an application-specific integrated circuit, or in less confusing terms a miner dedicated completely to mining a particular type of coin such as dogecoin.
4) GPU Mining - Using a graphics card to mine crypto currencies.
5) CPU Mining - A slow and inefficient way of using your computers Central Processing Unit to mine crypto currencies.
6) Hash Rate - The rate at which you mine a crypto currency. The higher the better.
7) KH - This Means Kilo Hashes. 1KH = 1,000 Hashes a Second
8) MH - This Means Mega Hash - 1 MH = 1,000,000 hashes a second.
9) Should I buy an asic? - If you want to support the network yes. If you want to solely make money off of it No. Buy the coin if you want to make profit. This is my opinion, there is no one answer to this question.
10) Mining Pool - Pooled mining is a mining approach where multiple generating clients contribute to the generation of a block, and then split the block reward according the contributed processing power. Pooled mining effectively reduces the granularity of the block generation reward, spreading it out smoothly over time.
Tl/DR You Work with other miners to solve stuff faster making you money faster.
11) Mining Difficulty - How hard it is to solve the problems to generate dogecoin.
12) Do I need a fan? - Yes I cannot stress how important it is to properly cool your units. Make sure your units are always cool or else they might melt. Do not think you are safe just because you turn your ac up, but a fan.
13) What Mining Pool Should I Pick? - Here is a list of all of the pools Pick one that works for you.
14) What is a wallet? - This is where you store your dogecoin and where you can send and receive dogecoin.
15) What Wallet Should I get? - Online is convenient but not safe. Paper Is the Safest But Not convenient. Cold Storage is the mostly safe and somewhat convenient.
16) What is cold storage? - Basically putting your wallet on an offline device like a usb.
17) Can I mine on a mac? - Yes look here for more info.
18) Cloud Mining - A service you buy that mines for you. you pay for a certain amount of hashes, lets just say 10gh for an example, and the company/service mines you this amount for the time you bought. It is not profitable usually.
19) What Is a Raspberry Pi? - A small cheap computer that people use to run their miners on.
20) Watts - The measure of electricity.
21) Should I pre-order? No Never F%&$ing pre order, you will get scammed 99.9999% of the time.
22) Can I still mine? - Yes, you probably wont make money but you will support the doge community.
23) Linux - An operating system like windows that people use to run mining programs on.
24) If you Have an animal make sure to properly protect your mining rig from them. Wires from the machines make great chew toys.
25) How Do I calculate if im going to make money with my mining rig? - Use This mining Calculator This is also a very good calculator
26 What Mining Program Should I use? Windows: CG MINER Mac: Astroid Linux: CG Miner again
Goodluck mining I hope this helps. This Also Took A long time to make so support would be appreciated :)
submitted by sircam22 to dogemining [link] [comments]

An opinion on how Bitcoin is good for gaming [xpost r/truegaming]

A few days ago, I was a bit bored (read: procrastinating), and I ended up reading about Bitcoin. For those of you unfamiliar with the topic, the gist is this:
Bitcoin is a decentralized currency based entirely in cyberspace which is derived based on cryptographic hashes. The value is based on whatever value the market as a collective assigns to it, much like most modern currencies (USD, Euro, etc.). Transactions are enacted entirely over p2p systems, so it has useful applications ranging from legal online marketplace deals, to gray-area deals such as Wikileaks donations, to illicit activities on Silk Road, much like real world cash. New bitcoin units are 'mined' by using a computer to crack the encrypted provided by the p2p system.
Summarized from wikipedia and the official site
What applies to gaming is the mining of new coins. Originally users would let their cpu mine out the encryption blocks, but as the difficulty of mining increased, the users had to pool resources and work together. Eventually, someone realized that more efficient mining could be done using a computer's gpu as opposed to the cpu. The reason this was a big step has to do with the gpu's ability to much more effectively crunch the numbers of the encrypted block (for more information read the informative wiki page on it). As more users switched to this method, the difficulty increased to balance the new abilities. Avarice finds a way though, the more devoted users are employing devoted 'mining rigs' to increase profits. Some entrepreneurial souls have started producing and marketing advanced rigs for extreme mining (e.g. ztex and butterflylabs ).
This may not be good for the Bitcoin economy as a whole though, because it generates an upper echelon of powerusers who can afford the economic arms-race, and it may not be ultimately sustainable. BUT, this would be good for gaming because if the arms race continues we could see accelerated the development of gpu technology. This is all conjecture of course, but in my opinion, a Bitcoin bubble may be good for the community as a whole.
Conflict of Interest note: I am not affiliated with Bitcoin and do not personally invest in this currency.
Comment from thread:
You wrongly assume that bitcoins are even a factor in pushing hardware manufacturers to improve. It's not even a drop in the bucket compared to all other more relevant types of software that make use of graphics cards. -FromMars
Reply:
My view was that this niche allows smaller companies to come in and compete with the larger manufacturers (AMD/Nvidia) and bring new ideas to the table for efficient processing. I concede that high end applications will probably drive the gpu industry, but I posit that there is a chance for outside development ideas. -wessubba
submitted by wessubba to hardware [link] [comments]

An opinion on how Bitcoin is good for gaming.

A few days ago, I was a bit bored (read: procrastinating), and I ended up reading about Bitcoin. For those of you unfamiliar with the topic, the gist is this:
Bitcoin is a decentralized currency based entirely in cyberspace which is derived based on cryptographic hashes. The value is based on whatever value the market as a collective assigns to it, much like most modern currencies (USD, Euro, etc.). Transactions are enacted entirely over p2p systems, so it has useful applications ranging from legal online marketplace deals, to gray-area deals such as Wikileaks donations, to illicit activities on Silk Road, much like real world cash. New bitcoin units are 'mined' by using a computer to crack the encrypted provided by the p2p system.
Summarized from wikipedia and the official site
What applies to gaming is the mining of new coins. Originally users would let their cpu mine out the encryption blocks, but as the difficulty of mining increased, the users had to pool resources and work together. Eventually, someone realized that more efficient mining could be done using a computer's gpu as opposed to the cpu. The reason this was a big step has to do with the gpu's ability to much more effectively crunch the numbers of the encrypted block (for more information read the informative wiki page on it). As more users switched to this method, the difficulty increased to balance the new abilities. Avarice finds a way though, the more devoted users are employing devoted 'mining rigs' to increase profits. Some entrepreneurial souls have started producing and marketing advanced rigs for extreme mining (e.g. ztex and butterflylabs ).
This may not be good for the Bitcoin economy as a whole though, because it generates an upper echelon of powerusers who can afford the economic arms-race, and it may not be ultimately sustainable. BUT, this would be good for gaming because if the arms race continues we could see accelerated the development of gpu technology. This is all conjecture of course, but in my opinion, a Bitcoin bubble may be good for the community as a whole.
Conflict of Interest note: I am not affiliated with Bitcoin and do not personally invest in this currency.
submitted by wessubba to truegaming [link] [comments]

Mini Bitcoin Mining Rig with 11 USB Block Erupter from ... NiceHash Mining OS USB how to - YouTube How to build a Mining Rig - Teil 1 - Die Hardware Deutsch Dualminer USB Bitcoin, litecoin, dogecoin miner mining RIg DIY Bitcoin Mining: Software (part 2) - YouTube

Um Bitcoin Mining zu betreiben, müssen Sie einem Miningpool beitreten, was zusätzliche Kosten verursacht. Für das Mining benötigen Sie entsprechende Hardware. Auch hier kommen Kosten auf Sie zu. Je nachdem, wie leistungsfähig Ihr Bitcoin Miner sein soll, zahlen Sie bis zu 2.000 Euro. Es ist nicht bekannt, ob sich Mining auch in Zukunft noch lohnen wird. Wenn Sie nicht genau wissen, was ... Start mining Bitcoin Cash or Bitcoin today! Supercharge your mining potential. Mine Bitcoin easily on the cloud without having to buy hardware, or plug your own hardware into the world’s highest paying mining pool. Sign up now Log in. Mine Bitcoin. We offer BTC and BCH mining. You can also choose to automatically mine the most profitable coin. Cloud Mining. Start mining immediately with our ... Bitcoin Mining: Bitcoin Kauf: Bitcoin Kursentwicklung: Im Mining profitieren Sie vor allem, wenn die Kurse stagnieren. Auch bei Kurssteigerungen machen Sie Gewinne, während bei Kursverlusten der Wert der Hardware entscheidend fallen kann. Sie profitieren vor allem dann, wenn der Bitcoin Kurs steigt. Dieser Gewinn fällt höher als bei Minern aus. Gewinne bei Stagnation und fallenden Kursen ... Bitcoin-Mining ist der Prozess, der sicherstellt, dass Bitcoin wie geplant funktioniert, und es ist der einzige Weg, um neues Angebot auf den Markt zu bringen. Miner sind Individuen oder Unternehmen, die Rechenleistung beitragen, um bei der Aufrechterhaltung und dem Betrieb des Blockchain-Netzwerks zu helfen, das Bitcoin als digitaler Währung zugrunde liegt. Diese Rechner sind dafür ... Bitcoin Mining ist das neue Goldschürfen: Als Miner, also Schürfer, verdienen Sie virtuelles Geld dafür, dass Sie Ihre Rechnerleistung zur Verfügung stellen. Allerdings ist hierfür so einiges ...

[index] [28549] [37150] [51244] [34732] [13187] [434] [32199] [13241] [44428] [7434]

Mini Bitcoin Mining Rig with 11 USB Block Erupter from ...

Mini USB Rig Includes: ----- 3X Red Fury usb miners. Running @ ~ 2.3Gh/s per unit--Totaling ~6.4Gh/s Each unit uses 2.5 Wat... Donations for any help appreciated :) 1PMrJ6TmkHwKVoChpuBpsjttoH8yEK9C8m Just to actually show you how silent this is - nothing compared to my 2011 rig with ... ** Yeni Çıkan Kitabımı %25 İndirimli Satın Al!: https://goo.gl/eax4bH ** Binance Üyelik: http://bit.ly/kriptoemrebinance (en iyi altcoin borsası) KuCoin Üyel... USB Block Erupter ASIC Bitcoin Mining Rigs - Duration: 0:41. john wayne 1,073 views. 0:41. Mining Rig Build (Easy) Start to Finish with Tips - Duration: 42:54. Tahoe Steve 378,471 views. 42:54 ... Are USB Bitcoin Miners profitable right now? This video will show you all of the facts you need to know about usb bitcoin miners and how much money they actu...

#