Was ist Bitcoin-Mining und ist es profitabel? IG DE
Bitcoin Mining: Lohnt sich das Mining von Bitcoin noch ...
/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:
Ring signatures hide where the money comes from. Spent inputs in a transaction are hidden among several others that also appear to be spent. Thus, no one knows which source of money is actually being spent. Think of inputs as individual dollars or euros. View a video about this topic here. Note: this is NOT the same as mixing.
RingCT hides the amount. Instead of spending a known value of an input, you can cryptographically commit to a certain value without revealing what the value actually is. This is a very complicated topic, so please view this video for more information.
Kovri is a work-in-progress tool to hide the transaction broadcast. Kovri will make it easy for users to hide their IP address when telling the network that they would like to make a transaction. Kovri will work with other cryptocurrencies and other projects through a common API, and Kovri can be used in a way to hide that you are using Monero at all. Kovri adds additional layers of network security for miners and pools, and it allows for the highest level of censorship resistance possible. A video for this project is available, and you can also check out the Kovri website. In the meantime, there are several guides to using Monero with Tor that work today, including an unofficial Tails build.
Stealth addresses hide where the money goes to. Instead of sending money to a specific address directly, certain outputs are allocated for addresses, but outside observers do not know which addresses these belong to. Even if ring signatures were compromised for some reason, then people would still not know the sending address in a transaction thanks to stealth addresses. View a video about this topic here.
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?
Fungible: Every Monero remains equal and identical to any other Monero. It is the property of a crypto asset whose units/value are capable of mutual substitution no matter what historical transactions occurred in the past.
Value-Growth: Monero has a proven chart record of growth and will continue to grow. Don't believe us? August 2015: $0.45, August 2016: $12, August 2017: $100. Growing really fast right? The difference is that it is growing because it's being used appropriately for it's technology and the demand keeps increasing. Swiss banks and offshores management organizations are starting to move from physical assets to Monero (XMR). Monero is dedicated to continue growing.
Development-Growth: Monero has the best team. Over 270 contributors have brought Monero to where it is today. The vast majority of people donate their time to help Monero, but a few get paid through the Forum Funding System (FFS). This is how Monero can be a strong project despite not taking a portion of the block rewards or launching with a premine.
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.
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 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.
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.
List of scams: (Always do a background check / research for anything outside of official releases.)
Freewallet (Mobile Wallet App)
Did you knowover 50 high profile artistsaccept 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!
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:
Exchange Websites where you can buy and sell crypto-currencies. Some popular exchanges in North America are: Coinbase GDAX Gemini Bittrex Poloniex Quadriga Kraken
Whale Someone that owns absurd amounts of crypto-currency.
limit order / limit buy / limit sell Orders placed by traders to buy or sell a crypto-currency when the price meets a certain amount. They can be thought of as 'for-sale' signs. These orders are what are bought and sold against when traders place market orders.
market order / market buy / market sell A simple purchase or sale on an exchange at the current price. Market buys purchase the cheapest ETH available on the order book, and market sells fill the most expensive buy order on the books.
margin trading The act of 'magnifying' the intensity of your trades by risking your existing coins. (NOTE: Very risky, only for experienced traders and only on certain exchanges even then)
going long A margin trade that profits if the price increases.
going short A margin trade that profits if the price decreases.
bullish An expectation that price is going to increase.
bearish An expectation that price is going to decrease.
ATH All-Time-High. We've gotten a lot of these the past couple months.
Altcoin Generally any crypto-currency other than Bitcoin or Ethereum. (Though some Bitcoin folks would probably still say Ethereum is an altcoin)
ETH The crypto-symbol for Ether. Kind of like stock market symbols. (i.e., the crypto equivalent of AMZN meaning Amazon stock)
Symbols of some other crypto-currencies that are regularly discussed/shilled around here: BTC - Bitcoin LTC - Litecoin ANS - Antshares SC - Siacoin XRP - Ripple ETC - Ethereum Classic FCT - Factom (described as a software license more than a coin, but can still be traded)
Tokens Refers to the 'currency' of projects built on the ethereum network that have raised money via issuing their own tokens. Some common tokens discussed on this sub: GNT - Golem REP - Augur BAT - Basic Attention Token ICN - Iconomi
ICO Initial Coin Offering, somewhat similar to an IPO in the non-crypto world. Startups issue their own token in exchange for ether. This is essentially crowdfunding on the ethereum platform.
Shilling / pumping Someone essentially advertising another crypto-currency. If a coin is promised to cure cancer or be the second coming of Jesus, it's being shilled.
stable coin A crypto-currency with extremely low volatility that can be used to trade against the overall market.
arbitrage Taking advantage of a difference in price of the same commodity on two different exchanges. Often mentioned when it comes to comparing ETH prices on Korean exchanges against US exchanges.
FOMO Fear Of Missing Out. The overwhelming sensation that you need to get on the train when the price of something starts to skyrocket.
FUD Fear, Uncertainty, and Doubt. Baseless negativity spread intentionally by someone that wants the price of something to drop.
FUDster Someone that is spreading FUD.
Pump And Dump The recurring cycle of an altcoin getting a ton of attention, leading to a fast price increase, and then of course followed by a huge crash.
Bagholder Someone still holding an altcoin after a pump and dump crash. Can also just refer to someone holding a coin that is sinking in value with few future prospects.
Market Cap The total value held in a crypto-currency. It is calculated by multiplying the total supply of coins by the current price of an individual unit. This site shows a great run-down of each coin's market cap: http://coincap.io/
ROI Return on Investment. The percentage of how much money has been made compared to an initial investment. (i.e., 100% ROI means someone doubled their money).
TA Trend Analysis or Technical Analysis. Refers to the process of examining current charts in order to predict which way the market will move next.
Crypto-currency related, but not really specific to Ethereum:
blockchain The classification of technology that Ethereum falls into. Blockchains are distributed ledgers, secured by cryptography. They are essentially public databases that everyone can access and read, but the data can only be updated by the data owners. Instead of the data residing on a single centralized server, the data is copied across thousands and thousands of computers worldwide. More detailed information available at: https://en.wikipedia.org/wiki/Blockchain
node A computer that possesses a copy of the blockchain and is working to maintain it.
mining The process of trying to 'solve' the next block. It requires obscene amounts of computer processing power to do effectively, but is rewarded with ether.
mining rig A computer especially designed for processing proof-of-work blockchains, like Ethereum. They often consist of multiple high-end graphic processors (GPUs) to maximize their processing power.
Fork A situation where a blockchain splits into two separate chains. Forks generally happen in the crypto-world when new 'governance rules' are built into the blockchain's code. Some more information available at: https://en.wikipedia.org/wiki/Blockchain#Hard_forks
POW Proof-of-work. The current consensus algorithm used by Ethereum.
POS Proof-of-stake (not piece of shit). The proposed future consensus algorithm to be used by Ethereum. Instead of mining in its current form, people that own ETH will be able to 'lock up' their ether for a short amount of time in order to 'vote' and generate network consensus. The plan is that these stakeholders will be rewarded with ETH by doing so.
sharding A scaling solution for blockchains. Typically, every node in a blockchain network houses a complete copy of the blockchain. Sharding is a method that allows nodes to have partial copies of the complete blockchain in order to increase overall network performance and consensus speeds.
software wallet Storage for crypto-currency that exists purely as software files on a computer. Software wallets can be generated for free from a variety of sources. MyEtherWallet (MEW) is one of the popular. (more on MEW below)
hardware wallet A device that can securely store crypto-currency. Hardware wallets are often regarded as the most secure way to hold crypto-currency.
Ledger Nano S / Trezor Two of the most popular hardware wallet models.
cold storage The process of moving crypto-currency 'offline', as a way of safekeeping your crypto-currency from hacking. There are a variety of ways to do this, but some methods most commonly used: ---Printing out the QR code of a software wallet and storing it somewhere safe, such as a safety deposit box. ---Moving the files of a software wallet onto a USB drive and storing it somewhere safe. ---Using a hardware wallet.
Terms more specific to Ethereum
smart contract Code that is deployed onto the Ethereum blockchain, often directly interacting with how money flows. Not my quote, but: "A normal transaction allows you to send money from A to B. Smart contracts allow you to send money from A to B, on the condition that C happens."
Dapp Decentralized Application. This refers to an application that uses an Ethereum smart contract as it's back-end code.
The Flippening A potential future event wherein Ethereum's market cap surpasses Bitcoin's market cap, making Ethereum the most 'valuable' crypto-currency. This site shows the progress of the Flippening in real-time: http://www.flippening.watch/
gas A measurement of how much processing is required by the ethereum network to process a transaction. Simple transactions, like sending ether to another address, typically do not require much gas. More complex transactions, like deploying a smart contract, require more gas.
gas price The amount of ether to be spent for each gas unit on a transaction. The initiator of a transaction chooses and pays the gas price of the transaction. Transactions with higher gas prices are prioritized by the network.
Wei The smallest denomination of ether. 1 Ether = 1000000000000000000 Wei (1018)
Gwei Another denomination of ether. Gas prices are most often measured in Gwei. 1 Ether = 1000000000 Gwei. (109)
Raiden Network An upcoming protocol change to Ethereum that will enable high-speed transfers across the network. It is similar in some aspects to Bitcoin's planned Lightning Network. The name, I assume, comes from the Mortal Kombat character named Raiden that can shoot lightning. More reading available at: https://themerkle.com/what-is-the-raiden-network/
Frontier, Homestead, Metropolis, Serenity The four planned stages of the Ethereum development roadmap. We are currently in the Homestead phase. The Metropolis update is likely to be available sometime in the next year.
MEW MyEtherWallet. A free site that can generate ethereum software wallets for you.
EEA Enterprise Ethereum Alliance. A coalition of startups and corporations trying to figure out the best way to use this dang thing.
DAO Decentralized Autonomous Organization. An investor-directed venture capital fund built on the Ethereum network that was hacked in June 2016. The hack stole about a third of the DAO's funds and led to Ethereum being hard-forked the following month. The DAO is often cited as one of Ethereum's biggest stumbles thus far.
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:
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.
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
Prices include shipping, taxes, and discounts when available.
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.
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).
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 CalculatorThis 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 :)
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
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
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.
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 ...
Mini Bitcoin Mining Rig with 11 USB Block Erupter from ...
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