Alloscomp : Bitcoin Mining Calculator

GigaHash Miner ICO

GigaHashMiner.io is an Iceland based new generation bitcoin mining firm .The company own and operates most energy efficient state of the art mining farm in Iceland. GigaHash offers ERC20 based tokenized cloud contracts named as GHS. Each GHS token will be backed by 1 GH/s of mining power. Tokens will be tradable in external exchanges as well as pays daily dividend based on mining profitability
[link]

A subreddit to learn how to deal with bitcoin, litecoin, ripple & other cryptocurrencies safely.

[link]

Particl

🛍️ Particl Marketplace -the leave no trace marketplace! 100% user-owned, untraceable. NoCensorship. FreeMarkets. NoSalesFees. ___________________________________________ It's a multi-vendor marketplace like Amazon but protects you. Have a storefront with your own access rules. ___________________________________________ Particl Coin (PART) is an independent digital privacy currency and settlement-layer for transactions made on the Marketplace.
[link]

What is the probability of mining 1 Bitcoin if your hashing rate is 1GH/s throughout one week? Is there anyone who has mined a bitcoin without being subscribed to a pool? /r/Bitcoin

What is the probability of mining 1 Bitcoin if your hashing rate is 1GH/s throughout one week? Is there anyone who has mined a bitcoin without being subscribed to a pool? /Bitcoin submitted by cryptoanalyticabot to cryptoall [link] [comments]

Did the hashrate go to 1GH/s because an engineer was mining Monero on a nuclear supercomputer?! LOL (It says bitcoin, but I'm curious)

Did the hashrate go to 1GH/s because an engineer was mining Monero on a nuclear supercomputer?! LOL (It says bitcoin, but I'm curious) submitted by wtf-r-u-serious to Monero [link] [comments]

What is the probability of mining 1 Bitcoin if your hashing rate is 1GH/s throughout one week? Is there anyone who has mined a bitcoin without being subscribed to a pool? /r/Bitcoin

What is the probability of mining 1 Bitcoin if your hashing rate is 1GH/s throughout one week? Is there anyone who has mined a bitcoin without being subscribed to a pool? /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

I built a pretty damn fast (1GH/s) Electrum v1.x wallet cracker /r/Bitcoin

I built a pretty damn fast (1GH/s) Electrum v1.x wallet cracker /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

[uncensored-r/Bitcoin] I built a pretty damn fast (1GH/s) Electrum v1.x wallet cracker

The following post by 1G7T is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7svfuh
The original post's content was as follows:
I'm using 10 GPUs and I'm still testing it, but if you have an old wallet to crack, please contact me! The system uses dictionaries and an (indipendent) word mangling program, so it might not fit to your password cracking requirements 100%. It should be possible to adapt it to Electrum < 2.8.
There is an extract script that only provides me with half the encrypted seed, so I'm not here to steal your money.
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

NEW Bitcoin(BTC) ATM at Lukoil Gas Station - Philadelphia

NEW Bitcoin(BTC) ATM at Lukoil Gas Station - Philadelphia

NEW Pay Depot Bitcoin ATMs at Lukoil Gas Station - Philadelphia

Check out Lukoil Gas Station to get the lowest possible transaction fees when you buy or sell your cryptocurrency with Pay Depot.
Bitcoin ATMs at Lukoil Gas Station in New Jersey LOCATIONS:
4400 City Ave., Philadephia, PA 19131
Google Map Link: https://www.google.com/maps/d/edit?mid=1ghX1umCNFE6ZDhGQicfj3yzonFDYy94c&usp=sharing
https://i.redd.it/irpxrkwf6cp51.gif
For Support, You can Email us [[email protected]](mailto:[email protected])
Price = Current market price
Limit = $800/$3000 Daily
ID: Required for Purchases over $800
-------------------------------------------------------------
FOLLOW US https://twitter.com/ATM_Near_Me or https://www.facebook.com/ATM.Bitcoin
To Get the Latest Location and Promotional Event News https://paydepot.com/map
submitted by PayDepot to Bitcoin [link] [comments]

NEW Bitcoin ATM at Lukoil Gas Station - Philadephia

NEW Bitcoin ATM at Lukoil Gas Station - Philadephia
NEW Pay Depot Bitcoin ATMs at Lukoil Gas Station - Philadephia
Check out Lukoil Gas Station to get the lowest possible transaction fees when you buy or sell your cryptocurrency with Pay Depot.
Bitcoin ATMs at Lukoil Gas Station in New Jersey LOCATIONS:
4400 City Ave., Philadephia, PA 19131
Google Map Link: https://www.google.com/maps/d/edit?mid=1ghX1umCNFE6ZDhGQicfj3yzonFDYy94c&usp=sharing

https://i.redd.it/4vcfsbo4mcn51.gif
For Support, You can Email us [[email protected]](mailto:[email protected])
Price = Current market price
Limit = $800/$3000 Daily
ID: Required for Purchases over $800
-------------------------------------------------------------
FOLLOW US https://twitter.com/ATM_Near_Me or https://www.facebook.com/ATM.Bitcoin
To Get the Latest Location and Promotional Event News https://paydepot.com/map
submitted by PayDepot to u/PayDepot [link] [comments]

BEWARE!!!! Nuvoo is refusing to payout mined BTC

TDLR: Found out that my contract was paused, asked to have my BTC and told they don't have the ability to transfer it yet. BEWARE!!! Below is the transcript with the person on their chat.


Karine G.
Tue, 03/12/19 08:14:37 am
hello , if you need help , just let me know .


Me
08:14:50 am
Hi Karine, why did my mining contract stop


Karine G.
08:15:04 am
Give me a moment


Me
08:15:25 am
I purchased a lifetime contract and if you are going to stop it I with to gather a refund as a breach of contract


Karine G.
08:15:37 am
The contract is open-ended.
determined by three factors: difficulty of operation, Bitcoin exchange rates against USD and maintenance costs (which includes all electricity, cooling, development and maintenance costs). We can not control the first two factors that are unpredictable,
https://nuvoo.io/ffaqs/The specific duration of a contract of indefinite duration is variable and determined by three factors: the difficulty of the exploitation, the Bitcoin exchange rates against USD and the maintenance costs of 0.00021 $ / 1gh / s of the pool 1 to 24 (This includes all costs for electricity, cooling, development and maintenance). We can not control the first two factors that are unpredictable, but we always deploy the latest mining technology, and do our best to keep them running at their peak for you. In the event that a contract becomes unprofitable (ie, the payment can not cover maintenance costs), the resulting daily payment will be nil. After that, the contract will continue for 21 days. This means that we will take care of maintenance costs in the hope that your contract becomes profitable again. This can occur if the mining network difficulty decreases and / or the Bitcoin price increases. If the contract does not return to profitability during this period, it will be completed because the extraction machines consume resources (electricity, air conditioning, accommodation, maintenance, etc.) that can not be paid with their generated payments.Malgres waiting more than 21 days your contract is not profitable income. An option will be added soon for a manual removal of your accumulated BTC. If you have questions or if you need immediate assistance, do not hesitate to contact us by chat or send us a ticket. Remaining at your disposal,


Me
08:17:55 am
Per the contract it stated that I would be notified prior to the closure of the contract. That I was not provided


Karine G.
08:18:00 am
It's ison the contract and on the terms and conditions on our website


Me
08:18:00 am
hence the breach of contract
and now you're telling me that I am unable to remove the BTC that has been mined by my contract
so you're holding it hostage?


Karine G.
08:18:58 am
At this time we work on the function for withdraw your accumulated the btc


Me
08:19:13 am
So you're holding it hostage
thats theft


Karine G.
08:19:24 am
No We work on the function for you
For all customer.
The programmers work on this.


Me
08:19:39 am
If I cant remove it now, its theft
you're holding my BTC hostage


Karine G.
08:19:51 am
You will be able to withdraw when the function will be ready


Me
08:20:08 am
I dont care that the programmers are working on it the fact that I cannot withdrawl is also a breach of contract


Karine G.
08:20:10 am
Sir The programmers work on the function


Me
08:20:21 am
That BTC is not yours
do you not understand that


Karine G.
08:20:36 am
As long the function is not ready we cannot active this


Me
08:20:39 am
its is mine and if you dont give me something that is mine, its called theft


Karine G.
08:21:01 am
Sir As I explain you, We worked on the function for you withdraw your BTC.


Me
08:21:03 am
that definition is defined in all countries of the world


Karine G.
08:21:18 am
When the function will be ready you will be able to withdraw


Me
08:21:23 am
the fact that the function is not available now is theft
the fact I wasnt notified of the closure of my countract is a breach of contract
do you not understand how bad this would look in front of a Canadian judge


Karine G.
08:22:19 am
I understand sir but I can't faster the programmer because I'm not a programmer.
So When the function will be work you will be able to withdraw your btc


Me
08:23:22 am
The fact that my contract was closed in december and its now march and this is the first I have found out about this is unacceptable
I have been left thinking it was still mining that whole time.


Karine G.
08:23:41 am
Is on the contract and the terms and conditions
For the explain of the open-ended


Me
08:24:01 am
I understand that but the contract also says that you would notify me of the discontinuation of the contract
which you didnt


Karine G.
08:24:49 am
And you don't go on your account before that? I don't know why you don't received an email.
Can I help you with anything else?
And your contract is not ended, Ison standby for the market we analyse the market


Me
08:29:04 am
My contract states "The Customer shall receive Mined Parts in accordance with the Mining Power contracted and the applicable Fees"
Thats directly from your contact


Karine G.
08:29:19 am
As I explain you
We work a function to withdraw your BTC.


Me
08:29:44 am
by my inability to remove my parts, you are in violation of our mutually agreed contract


Karine G.
08:29:49 am
I don't have any date for activated the function


Me
08:30:16 am
"we work a function to withdraw your btc" isnt proper english
I don't care that you "people" are working on it
its in clear violation of my contract


Karine G.
08:31:25 am
We are working on the withdrawal function for your accumulated BTCs. As long as the function is not ready we can not withdraw. Programmers are working on it right now.
If isn't ready I can't make more faster sorry about that and I understand your feeling.
Yes in the bank if I deposit a check the bank can make a freeze on the check And I'll not have all the money


Me
08:32:49 am
So imagine this, you go to the bank and ask the bank to withdraw money from your account and the bank teller tells you, "sorry we dont have a function to withdraw your money."


Karine G.
08:33:26 am
Sir I explain you many times and is the message I received by the Senior. I can't tell you anything else. I have this information. I'm a agent not a senior or supervisor
I already deposited a check and all the money was frozen


Me
08:34:27 am
Difference is in the blockchain its already been verified


Karine G.
08:34:43 am
Okay sir I just have this information


Me
08:34:51 am
And not my concern is if you shudder as a company, my money is gone


Karine G.
08:35:01 am
So I can't tell you more information. Because I don't have any other information


Me
08:35:16 am
So here's what you are going to do, you're going to transfer my BTC to my wallet.
Why, because its already been confirmed by the blockchain as having occured


Karine G.
08:35:57 am
When the function will be ready we will send you your btc


Me
08:36:36 am
By the fact that you are hiding from that makes it appear to me that this is a ponzy scheme


Karine G.
08:36:53 am
Sir I don't have any other information i can give you I don'T have it
Can I help you with anything else?


Me
08:37:07 am
And now with the siginificant drop in BTC price, you dont have the BTC sitting there that you "mined"
Yes you can get me someone who will transfer my bitcoin


Karine G.
08:37:28 am
Sir I repeat
The programmer work on the function to deposit your BTC
Come back to us if you have more question, feel free to leave a comment and note our CHAT service. Good bye.
submitted by that1rowdyracer to Bitcoin [link] [comments]

Monero Subreddit Stats from last year.

Submissions Comments
Total 994 49530
Rate (per day) 2.73 135.74
Unique Redditors 582 8080
Combined Score 161184 231580

Top Submitters' Top Submissions

  1. 5300 points, 33 submissions: dEBRUYNE_1
    1. Monero GUI 0.12.0.0 "Lithium Luna" Megathread - Download links, instructions for upgrading, guide on how to get started, and guides to resolve common issues (missing a transaction / zero balance, freezing / buggy GUI, transaction stuck as pending, and GUI using all bandwidth) (386 points, 833 comments)
    2. [Reminder] monero is not the appropriate place to discuss the BTC/BCH debate (319 points, 73 comments)
    3. General information regarding the upcoming scheduled network upgrade and a call for community action (305 points, 223 comments)
    4. GUI v0.12.2.0 released! (299 points, 243 comments)
    5. Announcement - Proof-of-Work tweak and a note on key reuse (295 points, 250 comments)
    6. GUI v0.12.3.0 (with direct Ledger support) released! (280 points, 386 comments)
    7. Bitfinex reduces Monero withdrawal fees from 0.04 to 0.0001 XMR! (272 points, 9 comments)
    8. Poloniex also reduces Monero withdrawal fees to 0.0001 XMR! (220 points, 17 comments)
    9. Preliminary information thread regarding the scheduled protocol upgrade of October 18 (214 points, 208 comments)
    10. CLI v0.12.3.0 released! (195 points, 78 comments)
  2. 4228 points, 24 submissions: OsrsNeedsF2P
    1. Saying you don't need privacy because you have nothing to hide is like saying you don't need free speech because you have nothing to say. It's a right to everyone - It's a right to you, me, and even Mark Zuckerberg. (581 points, 138 comments)
    2. The official Fortnite Merch Store is accepting exclusively Monero as a cryptocurrency payment option... (445 points, 80 comments)
    3. Can we stop being assholes to newbies? (359 points, 94 comments)
    4. With all this Monero "is less untraceable than previously thought" FUD, let's all remember that huge fucking bounty of $$$ for anyone who can trace the origin of one of the devs transactions.. (343 points, 131 comments)
    5. Ever wanted to know how Monero is still around today? Well now you don't have to! This post has it all =D (297 points, 66 comments)
    6. Coinmarketcap shows Freewallet as a Monero wallet. Guys, whatever you do.. Don't use Freewallet. It's a scam. (286 points, 93 comments)
    7. SEC wants decentralized exchange creators to register as exchanges. Lol (182 points, 111 comments)
    8. "Please do your part in demanding exchanges to lower their XMR withdraw fee. I am submitting a complaint to Coinex who currently charge 0.04 XMR" - [x-post from /xmrtrader] (169 points, 43 comments)
    9. Can we get some appreciation for the people who maintain the Monero packages on Arch Linux? There are so many available, and every single one I've checked either make the package from source or validate the checksum. Amazing work <3 (156 points, 19 comments)
    10. [WARNING] DROPIL recently made a post announcing support for Monero. MOVE YOUR FUNDS if you used them!!! (119 points, 5 comments)
  3. 3954 points, 13 submissions: KnifeOfPi2
    1. Did John McAfee just sell all of his Monero?? (1277 points, 107 comments)
    2. We need to stop thinking about Monero as a “privacy coin.” (511 points, 200 comments)
    3. Selsta and I just completed the first Ledger-to-Ledger mainnet transactions ever. He sent me 0.1 XMR and I sent 0.4 XMR back. (482 points, 103 comments)
    4. Monero network hashrate just hit 1GH/s! (463 points, 166 comments)
    5. An upcoming Monero project: Render the entire blockchain. Here's a selection of blocks that we've done so far, in an early stage. (224 points, 31 comments)
    6. In Stunning Move, Bitmain Announces It's Launching A Doorstopper Business (193 points, 48 comments)
    7. Another red flag for X Wallet: The source code is incomplete. (190 points, 63 comments)
    8. MONERO IS DEAD! LONG LIVE MONERO! (155 points, 25 comments)
    9. Lithium Luna GUI released! (118 points, 66 comments)
    10. Cake Wallet - introducing Zendesk support! (100 points, 13 comments)
  4. 2421 points, 22 submissions: SamsungGalaxyPlayer
    1. Kasisto POS in 22 seconds (366 points, 76 comments)
    2. "Kudelski Security completed their [bulletproof] report. They found only a few minor issues that are trivial to correct, and no major issues." Overall, a huge win for Monero, bulletproofs, and privacy. Full report will be published soon. (338 points, 100 comments)
    3. Network upgrade scheduled for block 1544555 on 28 March (210 points, 56 comments)
    4. Fungibility is determined by the LOWEST common denominator of privacy, NOT the highest. Monero absolutely excels here. (103 points, 37 comments)
    5. [Discussion] Move to a Fixed Ringsize (102 points, 85 comments)
    6. The Monero Malware Response workgroup website is up! Direct people whose machines have been compromised here! (101 points, 22 comments)
    7. MoneroV: A Trap Laid for Monero Users? (93 points, 45 comments)
    8. Want to get the GUI point release faster? Help translate! (91 points, 18 comments)
    9. Introducing the Breaking Monero Series! (86 points, 26 comments)
    10. ShapeShift is moving to a membership model and will require personal information soon (83 points, 86 comments)
  5. 2295 points, 16 submissions: pinkphloid
    1. Cake Wallet - OPEN SOURCE - Here it is! (383 points, 167 comments)
    2. Our Monero wallet called CAKEWALLET for iOS is live! Please check the link to the Apple App Store below. (347 points, 379 comments)
    3. [MANDATORY UPDATE] Cake Wallet Version 3.0.9 - Network Upgrade Ready! (227 points, 19 comments)
    4. [UPDATE] Cake Wallet version 3.1.4, now with XMR.TO for exchanging XMR to BTC! (133 points, 15 comments)
    5. Cake Wallet - 10,000 unique downloads! (132 points, 29 comments)
    6. Thank for the positive feedback on Cake Wallet! (127 points, 62 comments)
    7. The new Cake Wallet Update version 3.0.1 is out now! (120 points, 50 comments)
    8. [UPDATE] CAKE WALLET 3.1.1 with Monero v0.13.0.4 and other stuff (118 points, 32 comments)
    9. Cake Wallet - UPDATE! (108 points, 75 comments)
    10. CAKE WALLET - new version live now with NEW FEATURES! (102 points, 97 comments)
  6. 2042 points, 16 submissions: Rehrar
    1. Core Team Announcement (344 points, 45 comments)
    2. Project FOSS (212 points, 37 comments)
    3. Write down your seed (200 points, 93 comments)
    4. Bulletproof audit needs some more funding. Details in the comments. (170 points, 55 comments)
    5. Extremely thorough introduction to Monero by cypherperro. Take a look. (122 points, 18 comments)
    6. Defcon Monero Village Update and Summary (116 points, 22 comments)
    7. MRL Bulletproof audit FFS request (115 points, 30 comments)
    8. I, rehrar,went on a YouTube show to talk about Morono (113 points, 28 comments)
    9. Fund the fundings! (107 points, 16 comments)
    10. The anonimal appreciation thread! (107 points, 21 comments)
  7. 1978 points, 15 submissions: Vespco
    1. Edward Snowden on Bitcoin Interview 2018 (at 50 minutes, he says that a traceable public ledger is a bigger problem then scalability) (362 points, 88 comments)
    2. Putting this on my invoices seems like a good way for me to promote Monero, give my customers a discount, & help me acquire more Monero. (325 points, 101 comments)
    3. It's fun to be a part of the Monero economy! (179 points, 26 comments)
    4. Honest Government Ad | Anti Encryption Law (178 points, 32 comments)
    5. Jeez, not much real conversation in here. Just junky news links. (129 points, 76 comments)
    6. The New York State Department of Financial Services just approved the trading of privacy-protecting cryptocurrency. | Coin Center (124 points, 11 comments)
    7. A good way to explain the importance of fungibility to the laymen: Bitcoin Roulette (99 points, 45 comments)
    8. Why I love Botnet & Browser Mining. (86 points, 39 comments)
    9. This needs more praise & attention: An Open Source, Client Side JS implementation that makes monero multisig fairly easy. Github link in comments. (82 points, 14 comments)
    10. Could we get even more cryptographers researching for Monero? (77 points, 31 comments)
  8. 1846 points, 14 submissions: SarangNoether
    1. Bulletproofs: let's raise some funds! (295 points, 94 comments)
    2. January monthly report from Sarang Noether (237 points, 39 comments)
    3. Bulletproofs: The Paper Strikes Back (153 points, 32 comments)
    4. July monthly report from Sarang Noether (142 points, 20 comments)
    5. March monthly report from Sarang Noether (129 points, 22 comments)
    6. August monthly report from Sarang Noether (122 points, 33 comments)
    7. February monthly report from Sarang Noether (119 points, 27 comments)
    8. Sarang is up for three more months! (107 points, 30 comments)
    9. October monthly report from Sarang Noether (102 points, 26 comments)
    10. September monthly report from Sarang Noether (99 points, 25 comments)
  9. 1470 points, 4 submissions: TheFuzzStone
    1. "I do not have any Bitcoin" (1182 points, 96 comments)
    2. Fluffypony at Consensus 2018 (134 points, 33 comments)
    3. Time for Monero "killers"! :-) (91 points, 34 comments)
    4. XMR.RU-report (March) (63 points, 14 comments)
  10. 1468 points, 5 submissions: philkode
    1. Overstock.com accepting Monero (and ETH, BCH, LTC, DASH) (499 points, 36 comments)
    2. Happy 4th Birthday Monero! 🎂🎉🎁 (455 points, 62 comments)
    3. Monero has been added to Debian unstable repo as of yesterday. (321 points, 52 comments)
    4. “Unhackable” BitFi wallet just got hacked (xpost /cryptocurrency) (130 points, 41 comments)
    5. X Wallet to App Store (Soon™) (63 points, 67 comments)

Top Commenters

  1. dEBRUYNE_1 (3762 points, 1243 comments)
  2. KnifeOfPi2 (3311 points, 347 comments)
  3. OsrsNeedsF2P (3189 points, 505 comments)
  4. fluffyponyza (3027 points, 272 comments)
  5. gingeropolous (2554 points, 320 comments)
  6. cryptochangements34 (2522 points, 261 comments)
  7. SarangNoether (2269 points, 185 comments)
  8. SamsungGalaxyPlayer (2108 points, 221 comments)
  9. john_alan (1993 points, 218 comments)
  10. smooth_xmr (1944 points, 279 comments)

Top Submissions

  1. Did John McAfee just sell all of his Monero?? by KnifeOfPi2 (1277 points, 107 comments)
  2. Paypal shares your personal data with over 600 companies! That's why we need Monero! by 0xf3e (1184 points, 146 comments)
  3. "I do not have any Bitcoin" by TheFuzzStone (1182 points, 96 comments)
  4. Found In Warsaw - Don't Buy Monero: Cryptocurrencies harm the banking system and can weaken the government by SecretApe (1114 points, 110 comments)
  5. Monero transactions are about to get 80% cheaper and faster. by WillMTB (1056 points, 120 comments)
  6. Bye bye ASICs by Swericor (874 points, 380 comments)
  7. Upvote if you would like to see @fluffyponyza as a guest on Joe Rogan Podcast by xmr_karnal (840 points, 44 comments)
  8. All right, my cat had kittens and I just realised one of them has Monero-like logo on its head 😂😂 by JNKO266 (817 points, 79 comments)
  9. Credit, where credit is due! by Experts-say (796 points, 53 comments)
  10. Yesterday I thought it might be fun to create some vintage crypto posters for a handful of coins. This was the first one I came up with. Bonus points if you spot similarities from an old movie by Beemoe4 (722 points, 67 comments)

Top Comments

  1. 495 points: mr670wl's comment in Found In Warsaw - Don't Buy Monero: Cryptocurrencies harm the banking system and can weaken the government
  2. 474 points: kieranc001's comment in Monero Zero looks like a scam, can you please confirm?
  3. 380 points: deleted's comment in Found In Warsaw - Don't Buy Monero: Cryptocurrencies harm the banking system and can weaken the government
  4. 356 points: deleted's comment in Ledger Hardware Wallet - Monero integration : some news #6
  5. 331 points: last_of_the_romans's comment in Monero transactions are about to get 80% cheaper and faster.
  6. 323 points: svenroy777's comment in "I do not have any Bitcoin"
  7. 311 points: deleted's comment in Did John McAfee just sell all of his Monero??
  8. 255 points: KnifeOfPi2's comment in Monero transactions are about to get 80% cheaper and faster.
  9. 237 points: live9free1or1die's comment in Banning privacy coins because of terrorism/drugs/laundering is like banning people from being allowed to have sex in privacy because pedophiles also like privacy.
  10. 203 points: fluffyponyza's comment in Botnets are Ruining the Integrity of the Monero Network
Generated with BBoe's Subreddit Stats (Donate)
Inspired by a post I found on /Pivx by turtleflax.
submitted by OsrsNeedsF2P to Monero [link] [comments]

BEWARE!!!! Nuvoo is refusing to payout mined BTC

TDLR: Found out that my contract was paused, asked to have my BTC and told they don't have the ability to transfer it yet. BEWARE!!! Below is the transcript with the person on their chat.


Karine G.
Tue, 03/12/19 08:14:37 am
hello , if you need help , just let me know .


Me
08:14:50 am
Hi Karine, why did my mining contract stop


Karine G.
08:15:04 am
Give me a moment


Me
08:15:25 am
I purchased a lifetime contract and if you are going to stop it I with to gather a refund as a breach of contract


Karine G.
08:15:37 am
The contract is open-ended.
determined by three factors: difficulty of operation, Bitcoin exchange rates against USD and maintenance costs (which includes all electricity, cooling, development and maintenance costs). We can not control the first two factors that are unpredictable,
https://nuvoo.io/ffaqs/The specific duration of a contract of indefinite duration is variable and determined by three factors: the difficulty of the exploitation, the Bitcoin exchange rates against USD and the maintenance costs of 0.00021 $ / 1gh / s of the pool 1 to 24 (This includes all costs for electricity, cooling, development and maintenance). We can not control the first two factors that are unpredictable, but we always deploy the latest mining technology, and do our best to keep them running at their peak for you. In the event that a contract becomes unprofitable (ie, the payment can not cover maintenance costs), the resulting daily payment will be nil. After that, the contract will continue for 21 days. This means that we will take care of maintenance costs in the hope that your contract becomes profitable again. This can occur if the mining network difficulty decreases and / or the Bitcoin price increases. If the contract does not return to profitability during this period, it will be completed because the extraction machines consume resources (electricity, air conditioning, accommodation, maintenance, etc.) that can not be paid with their generated payments.Malgres waiting more than 21 days your contract is not profitable income. An option will be added soon for a manual removal of your accumulated BTC. If you have questions or if you need immediate assistance, do not hesitate to contact us by chat or send us a ticket. Remaining at your disposal,


Me
08:17:55 am
Per the contract it stated that I would be notified prior to the closure of the contract. That I was not provided


Karine G.
08:18:00 am
It's ison the contract and on the terms and conditions on our website


Me
08:18:00 am
hence the breach of contract
and now you're telling me that I am unable to remove the BTC that has been mined by my contract
so you're holding it hostage?


Karine G.
08:18:58 am
At this time we work on the function for withdraw your accumulated the btc


Me
08:19:13 am
So you're holding it hostage
thats theft


Karine G.
08:19:24 am
No We work on the function for you
For all customer.
The programmers work on this.


Me
08:19:39 am
If I cant remove it now, its theft
you're holding my BTC hostage


Karine G.
08:19:51 am
You will be able to withdraw when the function will be ready


Me
08:20:08 am
I dont care that the programmers are working on it the fact that I cannot withdrawl is also a breach of contract


Karine G.
08:20:10 am
Sir The programmers work on the function


Me
08:20:21 am
That BTC is not yours
do you not understand that


Karine G.
08:20:36 am
As long the function is not ready we cannot active this


Me
08:20:39 am
its is mine and if you dont give me something that is mine, its called theft


Karine G.
08:21:01 am
Sir As I explain you, We worked on the function for you withdraw your BTC.


Me
08:21:03 am
that definition is defined in all countries of the world


Karine G.
08:21:18 am
When the function will be ready you will be able to withdraw


Me
08:21:23 am
the fact that the function is not available now is theft
the fact I wasnt notified of the closure of my countract is a breach of contract
do you not understand how bad this would look in front of a Canadian judge


Karine G.
08:22:19 am
I understand sir but I can't faster the programmer because I'm not a programmer.
So When the function will be work you will be able to withdraw your btc


Me
08:23:22 am
The fact that my contract was closed in december and its now march and this is the first I have found out about this is unacceptable
I have been left thinking it was still mining that whole time.


Karine G.
08:23:41 am
Is on the contract and the terms and conditions
For the explain of the open-ended


Me
08:24:01 am
I understand that but the contract also says that you would notify me of the discontinuation of the contract
which you didnt


Karine G.
08:24:49 am
And you don't go on your account before that? I don't know why you don't received an email.
Can I help you with anything else?
And your contract is not ended, Ison standby for the market we analyse the market


Me
08:29:04 am
My contract states "The Customer shall receive Mined Parts in accordance with the Mining Power contracted and the applicable Fees"
Thats directly from your contact


Karine G.
08:29:19 am
As I explain you
We work a function to withdraw your BTC.


Me
08:29:44 am
by my inability to remove my parts, you are in violation of our mutually agreed contract


Karine G.
08:29:49 am
I don't have any date for activated the function


Me
08:30:16 am
"we work a function to withdraw your btc" isnt proper english
I don't care that you "people" are working on it
its in clear violation of my contract


Karine G.
08:31:25 am
We are working on the withdrawal function for your accumulated BTCs. As long as the function is not ready we can not withdraw. Programmers are working on it right now.
If isn't ready I can't make more faster sorry about that and I understand your feeling.
Yes in the bank if I deposit a check the bank can make a freeze on the check And I'll not have all the money


Me
08:32:49 am
So imagine this, you go to the bank and ask the bank to withdraw money from your account and the bank teller tells you, "sorry we dont have a function to withdraw your money."


Karine G.
08:33:26 am
Sir I explain you many times and is the message I received by the Senior. I can't tell you anything else. I have this information. I'm a agent not a senior or supervisor
I already deposited a check and all the money was frozen


Me
08:34:27 am
Difference is in the blockchain its already been verified


Karine G.
08:34:43 am
Okay sir I just have this information


Me
08:34:51 am
And not my concern is if you shudder as a company, my money is gone


Karine G.
08:35:01 am
So I can't tell you more information. Because I don't have any other information


Me
08:35:16 am
So here's what you are going to do, you're going to transfer my BTC to my wallet.
Why, because its already been confirmed by the blockchain as having occured


Karine G.
08:35:57 am
When the function will be ready we will send you your btc


Me
08:36:36 am
By the fact that you are hiding from that makes it appear to me that this is a ponzy scheme


Karine G.
08:36:53 am
Sir I don't have any other information i can give you I don'T have it
Can I help you with anything else?


Me
08:37:07 am
And now with the siginificant drop in BTC price, you dont have the BTC sitting there that you "mined"
Yes you can get me someone who will transfer my bitcoin


Karine G.
08:37:28 am
Sir I repeat
The programmer work on the function to deposit your BTC
Come back to us if you have more question, feel free to leave a comment and note our CHAT service. Good bye.
submitted by that1rowdyracer to btc [link] [comments]

A simple guide for the "non-advanced" miners.

Hello everyone!
Today I would like to talk about couple topics that are related with GPU mining. Even if you have been mining for over 6 months, you might still need to read this guide for better profit. However, you might be a new miner but know everything I will be talking here, so, it is not about for how long you have been mining, it is about how well you know the mining world.
First of all, decide what type of miner you are
What I mean by "decide" is, whether you are mining for making money, or supporting a project, or just as a hobby. If you are mining for supporting a project, or as hobby, then you can skip this guide because this guide is mostly for people who are willing to make money out of their GPU or GPUs. While people with 1-2 GPUs wouldn't worry that much about money, people like me, who have over 20 GPUs would be willing to make some profit because most probably that's the reason why they have that many GPUs.
If you are looking to make profit out of your GPUs, here are some points you should be considering before mining a crypto currency.
There are thousands of different crypto currencies that can only be mined by GPUs. And their prices/difficulties/mining rewards are different. So, your main purpose should be making the MOST bucks, with the same equipment. Think of it like this, you have 10.000 USD worth of mining equipment, and there are 5 coins you can mine. And if you mine the coin A, you will be making 100USD worth of coins daily. But on the other hand, there is a coin C, which you believe in the project, and you are willing to sell some of those mined C for expenses such as electricity, and keep the rest of the C, for future investments. But, you know that by mining coin C, you are making 90 USD worth of coins daily. But since you are thinking like "hey mate, I'm gonna hodl, so no big deal, they'll be more valuable later!", you might be feeling okay.
Instead of mining like this, you should be doing something else, for making more money, but you might say "Hey dude! I also wanna keep some of the coin C, how do I do that if I don't mine it?"
Well, the answer is clear. Mine the most profitable coin at the moment, coin A. If you are willing to sell all the mined coins, coin A is the best choice for you. But if you are willing to keep some amount of coin C, it is still better if you mine coin A. First, you mine 100 USD worth coin A, then you exchange your mined coin A for coin C on the market. You will lose some amount of your mined coins due to exchange/deposit/withdrawal fees on exchanges. But even then, after transferring all mined coins A to coin C, you will be holding coin C worth around 98.5 USD.
So, while mining coin C, you were making 90USD daily, but now you mined coin A, made some exchanges, and ended up with 98.5 USD worth coin C. At the and of the day, you have more coin C than you would have if you have mined coin C. Now you can sell some of those coins to cover expenses, and hodl the rest.
Allright, this is mostly know thing, and what most of the miners do. However, the key point I would like to mention is not exactly that. I just wanted to show that even if you want to hodl some of the coins, you can hodl more of it by mining more profitable one and exchanging. Since this is clear now, we can focus the main thing I wanted to say.
We know that there are thousands of different coins and many more coming to the market everyday. So, this is actually a big opportunity for the miners. Most of the miners are using websites such as coin market cap or what to mine but these websites are not showing the recent coins, or projects. So, according to the what to mine, I would be making 35USD daily with my mining rigs. However, thanks to my personal research, I am making around 60USD daily, which is almost the double of the amount that what to mine calculates.
How do I do that? Simple, by spending little time on the internet, and finding new coins. I am mining coins that are mostly not listed on websites such as coin market cap, or what to mine, or other big mining calculators. I choose smaller / recent projects, which just got listed on a small exchange, but has enough volume that I can exchange mined coins daily. Because these coins are not listed on the big mining related websites, chances are high that you would be making more money by mining them, instead of something big. But since they have a place to get exchanged, you are lucky and you can mine + exchange and make more money.
How do I find those coins? As I mentioned before, by research. Checking the different subreddits, joining different discord channels and making friends online. There were many times my friends sent me a message like "hey mate, I found a coin which is x2-x3 times more profitable than other known ones.". Or, I'm checking middle size mining pools, which frequently add new coins to their pools. They do the important work here, they find a new coin and make it available to mine, so all I have to do becomes check the coin info for exchanges -- do the mining profit calculations -- start mining. Also you can check "BitcoinTalk" for announcements. This is all depending on you, you can check other platforms that you know, and find the most profitable coin to mine.
Also it would be better if you have a good OS for mining, since it would take a bit long if you can't change your configurations easily. Of course all these things, research, calculations, configurations etc. would costing your valuable time, but hey, if you can make x2-x3, even x5 in some cases, and you have a decent hashpower, spending time for these things would not be a problem.
Before ending my words, I would like to say one last thing. Since "more miners, higher difficulty. Higher difficulty, fewer coins and fewer coins means less profit", you might not be able to find topics like *Hey dudes, mine coin A, profit is huge" on forums. So, you should be doing your own research instead of expecting such posts.
ONE LAST, and final, THING
If you have found a coin, that is really profitable, you can mine yourself + use mining rental services. Lets say there is a mineable coin, and you can mine 100 USD worth of it in one day with 1GH/s hashing power. Then you can check, for example nicehash for this algorithm. If people are renting 1GH/s hashpower for 80 USD, you can give 80USD, rent hashpower, mine 100USD worth of coins, sell them and make 20USD profit. Without even having the GPUs yourself, you can make money just by renting hashpower if you really have found a good coin to mine.
Consider all the things I've said, and spend some time for research, and you would be making more money than you did before :)
Have a good day everyone!
submitted by nithronium to gpumining [link] [comments]

Subreddit Stats: Monero top posts from 2018-01-03 to 2019-01-02 13:47 PDT

Period: 364.01 days
Submissions Comments
Total 994 49530
Rate (per day) 2.73 135.74
Unique Redditors 582 8080
Combined Score 161184 231580

Top Submitters' Top Submissions

  1. 5300 points, 33 submissions: dEBRUYNE_1
    1. Monero GUI 0.12.0.0 "Lithium Luna" Megathread - Download links, instructions for upgrading, guide on how to get started, and guides to resolve common issues (missing a transaction / zero balance, freezing / buggy GUI, transaction stuck as pending, and GUI using all bandwidth) (386 points, 833 comments)
    2. [Reminder] monero is not the appropriate place to discuss the BTC/BCH debate (319 points, 73 comments)
    3. General information regarding the upcoming scheduled network upgrade and a call for community action (305 points, 223 comments)
    4. GUI v0.12.2.0 released! (299 points, 243 comments)
    5. Announcement - Proof-of-Work tweak and a note on key reuse (295 points, 250 comments)
    6. GUI v0.12.3.0 (with direct Ledger support) released! (280 points, 386 comments)
    7. Bitfinex reduces Monero withdrawal fees from 0.04 to 0.0001 XMR! (272 points, 9 comments)
    8. Poloniex also reduces Monero withdrawal fees to 0.0001 XMR! (220 points, 17 comments)
    9. Preliminary information thread regarding the scheduled protocol upgrade of October 18 (214 points, 208 comments)
    10. CLI v0.12.3.0 released! (195 points, 78 comments)
  2. 4228 points, 24 submissions: OsrsNeedsF2P
    1. Saying you don't need privacy because you have nothing to hide is like saying you don't need free speech because you have nothing to say. It's a right to everyone - It's a right to you, me, and even Mark Zuckerberg. (581 points, 138 comments)
    2. The official Fortnite Merch Store is accepting exclusively Monero as a cryptocurrency payment option... (445 points, 80 comments)
    3. Can we stop being assholes to newbies? (359 points, 94 comments)
    4. With all this Monero "is less untraceable than previously thought" FUD, let's all remember that huge fucking bounty of $$$ for anyone who can trace the origin of one of the devs transactions.. (343 points, 131 comments)
    5. Ever wanted to know how Monero is still around today? Well now you don't have to! This post has it all =D (297 points, 66 comments)
    6. Coinmarketcap shows Freewallet as a Monero wallet. Guys, whatever you do.. Don't use Freewallet. It's a scam. (286 points, 93 comments)
    7. SEC wants decentralized exchange creators to register as exchanges. Lol (182 points, 111 comments)
    8. "Please do your part in demanding exchanges to lower their XMR withdraw fee. I am submitting a complaint to Coinex who currently charge 0.04 XMR" - [x-post from /xmrtrader] (169 points, 43 comments)
    9. Can we get some appreciation for the people who maintain the Monero packages on Arch Linux? There are so many available, and every single one I've checked either make the package from source or validate the checksum. Amazing work <3 (156 points, 19 comments)
    10. [WARNING] DROPIL recently made a post announcing support for Monero. MOVE YOUR FUNDS if you used them!!! (119 points, 5 comments)
  3. 3954 points, 13 submissions: KnifeOfPi2
    1. Did John McAfee just sell all of his Monero?? (1277 points, 107 comments)
    2. We need to stop thinking about Monero as a “privacy coin.” (511 points, 200 comments)
    3. Selsta and I just completed the first Ledger-to-Ledger mainnet transactions ever. He sent me 0.1 XMR and I sent 0.4 XMR back. (482 points, 103 comments)
    4. Monero network hashrate just hit 1GH/s! (463 points, 166 comments)
    5. An upcoming Monero project: Render the entire blockchain. Here's a selection of blocks that we've done so far, in an early stage. (224 points, 31 comments)
    6. In Stunning Move, Bitmain Announces It's Launching A Doorstopper Business (193 points, 48 comments)
    7. Another red flag for X Wallet: The source code is incomplete. (190 points, 63 comments)
    8. MONERO IS DEAD! LONG LIVE MONERO! (155 points, 25 comments)
    9. Lithium Luna GUI released! (118 points, 66 comments)
    10. Cake Wallet - introducing Zendesk support! (100 points, 13 comments)
  4. 2421 points, 22 submissions: SamsungGalaxyPlayer
    1. Kasisto POS in 22 seconds (366 points, 76 comments)
    2. "Kudelski Security completed their [bulletproof] report. They found only a few minor issues that are trivial to correct, and no major issues." Overall, a huge win for Monero, bulletproofs, and privacy. Full report will be published soon. (338 points, 100 comments)
    3. Network upgrade scheduled for block 1544555 on 28 March (210 points, 56 comments)
    4. Fungibility is determined by the LOWEST common denominator of privacy, NOT the highest. Monero absolutely excels here. (103 points, 37 comments)
    5. [Discussion] Move to a Fixed Ringsize (102 points, 85 comments)
    6. The Monero Malware Response workgroup website is up! Direct people whose machines have been compromised here! (101 points, 22 comments)
    7. MoneroV: A Trap Laid for Monero Users? (93 points, 45 comments)
    8. Want to get the GUI point release faster? Help translate! (91 points, 18 comments)
    9. Introducing the Breaking Monero Series! (86 points, 26 comments)
    10. ShapeShift is moving to a membership model and will require personal information soon (83 points, 86 comments)
  5. 2295 points, 16 submissions: pinkphloid
    1. Cake Wallet - OPEN SOURCE - Here it is! (383 points, 167 comments)
    2. Our Monero wallet called CAKEWALLET for iOS is live! Please check the link to the Apple App Store below. (347 points, 379 comments)
    3. [MANDATORY UPDATE] Cake Wallet Version 3.0.9 - Network Upgrade Ready! (227 points, 19 comments)
    4. [UPDATE] Cake Wallet version 3.1.4, now with XMR.TO for exchanging XMR to BTC! (133 points, 15 comments)
    5. Cake Wallet - 10,000 unique downloads! (132 points, 29 comments)
    6. Thank for the positive feedback on Cake Wallet! (127 points, 62 comments)
    7. The new Cake Wallet Update version 3.0.1 is out now! (120 points, 50 comments)
    8. [UPDATE] CAKE WALLET 3.1.1 with Monero v0.13.0.4 and other stuff (118 points, 32 comments)
    9. Cake Wallet - UPDATE! (108 points, 75 comments)
    10. CAKE WALLET - new version live now with NEW FEATURES! (102 points, 97 comments)
  6. 2042 points, 16 submissions: Rehrar
    1. Core Team Announcement (344 points, 45 comments)
    2. Project FOSS (212 points, 37 comments)
    3. Write down your seed (200 points, 93 comments)
    4. Bulletproof audit needs some more funding. Details in the comments. (170 points, 55 comments)
    5. Extremely thorough introduction to Monero by cypherperro. Take a look. (122 points, 18 comments)
    6. Defcon Monero Village Update and Summary (116 points, 22 comments)
    7. MRL Bulletproof audit FFS request (115 points, 30 comments)
    8. I, rehrar,went on a YouTube show to talk about Morono (113 points, 28 comments)
    9. Fund the fundings! (107 points, 16 comments)
    10. The anonimal appreciation thread! (107 points, 21 comments)
  7. 1978 points, 15 submissions: Vespco
    1. Edward Snowden on Bitcoin Interview 2018 (at 50 minutes, he says that a traceable public ledger is a bigger problem then scalability) (362 points, 88 comments)
    2. Putting this on my invoices seems like a good way for me to promote Monero, give my customers a discount, & help me acquire more Monero. (325 points, 101 comments)
    3. It's fun to be a part of the Monero economy! (179 points, 26 comments)
    4. Honest Government Ad | Anti Encryption Law (178 points, 32 comments)
    5. Jeez, not much real conversation in here. Just junky news links. (129 points, 76 comments)
    6. The New York State Department of Financial Services just approved the trading of privacy-protecting cryptocurrency. | Coin Center (124 points, 11 comments)
    7. A good way to explain the importance of fungibility to the laymen: Bitcoin Roulette (99 points, 45 comments)
    8. Why I love Botnet & Browser Mining. (86 points, 39 comments)
    9. This needs more praise & attention: An Open Source, Client Side JS implementation that makes monero multisig fairly easy. Github link in comments. (82 points, 14 comments)
    10. Could we get even more cryptographers researching for Monero? (77 points, 31 comments)
  8. 1846 points, 14 submissions: SarangNoether
    1. Bulletproofs: let's raise some funds! (295 points, 94 comments)
    2. January monthly report from Sarang Noether (237 points, 39 comments)
    3. Bulletproofs: The Paper Strikes Back (153 points, 32 comments)
    4. July monthly report from Sarang Noether (142 points, 20 comments)
    5. March monthly report from Sarang Noether (129 points, 22 comments)
    6. August monthly report from Sarang Noether (122 points, 33 comments)
    7. February monthly report from Sarang Noether (119 points, 27 comments)
    8. Sarang is up for three more months! (107 points, 30 comments)
    9. October monthly report from Sarang Noether (102 points, 26 comments)
    10. September monthly report from Sarang Noether (99 points, 25 comments)
  9. 1470 points, 4 submissions: TheFuzzStone
    1. "I do not have any Bitcoin" (1182 points, 96 comments)
    2. Fluffypony at Consensus 2018 (134 points, 33 comments)
    3. Time for Monero "killers"! :-) (91 points, 34 comments)
    4. XMR.RU-report (March) (63 points, 14 comments)
  10. 1468 points, 5 submissions: philkode
    1. Overstock.com accepting Monero (and ETH, BCH, LTC, DASH) (499 points, 36 comments)
    2. Happy 4th Birthday Monero! 🎂🎉🎁 (455 points, 62 comments)
    3. Monero has been added to Debian unstable repo as of yesterday. (321 points, 52 comments)
    4. “Unhackable” BitFi wallet just got hacked (xpost /cryptocurrency) (130 points, 41 comments)
    5. X Wallet to App Store (Soon™) (63 points, 67 comments)

Top Commenters

  1. dEBRUYNE_1 (3762 points, 1243 comments)
  2. KnifeOfPi2 (3311 points, 347 comments)
  3. OsrsNeedsF2P (3189 points, 505 comments)
  4. fluffyponyza (3027 points, 272 comments)
  5. gingeropolous (2554 points, 320 comments)
  6. cryptochangements34 (2522 points, 261 comments)
  7. SarangNoether (2269 points, 185 comments)
  8. SamsungGalaxyPlayer (2108 points, 221 comments)
  9. john_alan (1993 points, 218 comments)
  10. smooth_xmr (1944 points, 279 comments)

Top Submissions

  1. Did John McAfee just sell all of his Monero?? by KnifeOfPi2 (1277 points, 107 comments)
  2. Paypal shares your personal data with over 600 companies! That's why we need Monero! by 0xf3e (1184 points, 146 comments)
  3. "I do not have any Bitcoin" by TheFuzzStone (1182 points, 96 comments)
  4. Found In Warsaw - Don't Buy Monero: Cryptocurrencies harm the banking system and can weaken the government by SecretApe (1114 points, 110 comments)
  5. Monero transactions are about to get 80% cheaper and faster. by WillMTB (1056 points, 120 comments)
  6. Bye bye ASICs by Swericor (874 points, 380 comments)
  7. Upvote if you would like to see @fluffyponyza as a guest on Joe Rogan Podcast by xmr_karnal (840 points, 44 comments)
  8. All right, my cat had kittens and I just realised one of them has Monero-like logo on its head 😂😂 by JNKO266 (817 points, 79 comments)
  9. Credit, where credit is due! by Experts-say (796 points, 53 comments)
  10. Yesterday I thought it might be fun to create some vintage crypto posters for a handful of coins. This was the first one I came up with. Bonus points if you spot similarities from an old movie by Beemoe4 (722 points, 67 comments)

Top Comments

  1. 495 points: mr670wl's comment in Found In Warsaw - Don't Buy Monero: Cryptocurrencies harm the banking system and can weaken the government
  2. 474 points: kieranc001's comment in Monero Zero looks like a scam, can you please confirm?
  3. 380 points: deleted's comment in Found In Warsaw - Don't Buy Monero: Cryptocurrencies harm the banking system and can weaken the government
  4. 356 points: deleted's comment in Ledger Hardware Wallet - Monero integration : some news #6
  5. 331 points: last_of_the_romans's comment in Monero transactions are about to get 80% cheaper and faster.
  6. 323 points: svenroy777's comment in "I do not have any Bitcoin"
  7. 311 points: deleted's comment in Did John McAfee just sell all of his Monero??
  8. 255 points: KnifeOfPi2's comment in Monero transactions are about to get 80% cheaper and faster.
  9. 237 points: live9free1or1die's comment in Banning privacy coins because of terrorism/drugs/laundering is like banning people from being allowed to have sex in privacy because pedophiles also like privacy.
  10. 203 points: fluffyponyza's comment in Botnets are Ruining the Integrity of the Monero Network
Generated with BBoe's Subreddit Stats (Donate)
submitted by OsrsNeedsF2P to subreddit_stats [link] [comments]

Gauging interest: A mining contract marketplace. Would you use this?

Gauging interest: A mining contract marketplace. Would you use this? submitted by ferroh to Bitcoin [link] [comments]

Best miners out there?

In my pool, I've noticed people cranking out 9000 GH/s and 436 LTC a day. Is there any thing that mines litecoin at 1GH/s? And is there any way to convert a bitcoin miner to run scrypt and mine litecoin?
Edit: changed from TH to GH (confusion)
submitted by TheTeek03 to litecoinmining [link] [comments]

Will lifetime mining shares be a fortune!

The lifetime mining shares at cryptsy recently announced https://www.cryptsy.com/currencies/view/139
It seems it would take around 200 days to recover the money invested, but on a longer run when difficulty becomes very high where mining completely becomes nonviable option in the neighborhood and only large and corporate organizations could only afford to do mining...
In that situation if transaction fee becomes mandatory( one of the proposal to incentivize mining) then as bitcoin users skyrocket and so does the volume of money collected as transaction fees which will be paid to lifetime mining shareholders...
Does it work that way or am I wrong?..
submitted by cuddaloreappu to Bitcoin [link] [comments]

Best of Buttcoin: 2014

There's been some fantastic work done in this subreddit spreading disinformation researching, criticising, and debunking bitcoin and its sacred cows over the past year, which I would like to celebrate.
So here's some posts I saved on bitcoin-related topics. But I started saving things too late... So if you have and/or remember any great posts from the past year, dig them up and post them here.
Also, unironically, maybe someone should start a buttcoin wiki

First, three pieces of investigative journalism from Buttcoin's top minds. Here Charlie_Shrem examines the environmental impact of bitcoin mining. Key finding: For every Bitcoin transaction, 47 kilograms of CO2 is released into the atmosphere from the miners alone.
Current hash rate: 261,900,382 GH/s
Number of transactions per day: 71,331
If we assume rather conservatively that 1GH/s = 1 watt on average, then this would mean 261,900,382W is being used to power the network. We can simplify this to 261,900 kW.
Some miners can do better than 1W per 1GH/s, but many if not most do worse (i.e. 2W per 1GH/s to 10W per 1GH/s).
Going by the figure of 0.527kg CO2 / kWh found on this page,
0.527kg CO2 x 261,900 kW x 24 hours = 3,312,511.2 kg CO2 per day
Now,
3,312,511.2 kg CO2 / 71,331 transactions = 46.44 kg CO2 per transaction
For comparison, even going by this Coindesk Article, an ATM produces daily 3.162kg in CO2 emissions.
0.25kwH x 0.527kg CO2 x 24 hours = 3.162kg/day.
That means that the carbon emission for one Bitcoin transaction is equivalent to about 15 ATMs processing perhaps hundreds or thousands of transactions in a day combined.

Earlier this month Frankeh abruptly interrupted remittance-focused annular onanism by issuing a challenge: to find a single instance where bitcoin works out cheaper than a fiat alternative. In case you need to ask... Nope.
Right, there's a bunch of circlejerking happening in /Bitcoin right now so I think it's time to cut through the bullshit one way or another.
Country to send money to.
The biggest remittance markets are China, Indian and the Philippines.
I believe that since /Bitcoin often gives the Philippines as an example of successful Bitcoin remittance then it is the perfect country to use in our challenge.
Country to send money from.
According to this wikipedia article Malaysia and Canada have the biggest expat Filipino communities. 900,000 and 500,000.
So I think we should do the calculations based on both countries.
The methodology
Most people are not paid in Bitcoin. This is a fact. So for our calculation you must start with fiat, and end in fiat. We're not doing these calculations based on future utility of Bitcoin (No, neo. I'm saying...), we're doing them on the current utility.
We will also be doing a bank to bank remittance, because that is nice an constant. We don't need to take into account pick up locations Bitcoin remittance allows and pick up locations normal remittance allows. They'll vary too much.
Time will also not be taken into account, as time doesn't actually matter when it comes to remittance. Now, Bitcoiners might shout about this particular rule but let me explain my logic behind this.
A foreign worker gets paid every Friday. They start the remittance process on the Friday and regardless of if it takes 0, 3, or 5 days their family back in their home country just needs to base their life around money coming in on remitters pay day + 0, 3, or 5 days. Time taken is of no real value when it comes to remittance. All that matters is that it consistently arrives on day x.
As such, any remittance services that take over 5 working days are to be ignored for the sake of this challenge.
The amount
The amount is going to be 25% of the average wage in each of the countries. This isn't extremely scientific because it doesn't particularly need to be, and the figures are hard to come by.
So 1826.75 MYR for Malaysia and 1,398 CAD for Canada.
Don't bother complaining about these, they're just examples.
Few more ground rules
  • We're going to be going from bank/bank card to bank regardless, so we're not interested in banking fees on either side. They will be the same regardless of Bitcoin or WU (for example)
  • It must be from local fiat to foreign fiat.. You can't palm off the conversion fee to the receivers bank to keep fees down.
  • Any remittance service can be used, as long as Bitcoin is involved for people fighting the Bitcoin corner and Bitcoin isn't used for people fighting the WU (or similar) corner.
  • You must go through the process and document all the fees for each. Fees to look out for are currency spreads, transaction fees on exchanges, etc

Finally a recent thread, but commendable all the same. Hodldown presents some research leading to facts overturning years of knowledge in the bitcoin wiki. Even us shills have been laughing at bitcoin's pathetic capability of 7 transactions per second. It turns out, we were out by at least a factor of 2:
The average number of transactions per block right now is: 665 transactions
The average block size is 0.372731752748842mb.
That means the average transaction is 0.00056049887mb. Which means 1mb of transactions (the limit) is 1784 transactions
Assuming a 10 minute block (a whole other can of worms) that means there is 10*60 seconds.
1784/600 isn't 7. It's a 2.97.
Bitcoin at a technical level can not handle even 3 transactions per second.

In one of the frequent bitcoin user invasions, PayingWithActualMone outlines why the "solution in search of a problem" isn't that great of a solution to much either.
On the transaction side: the Bitcoin community seems convinced that banks are ripping them off (which imo they are not), and that it can be fixed by applying some magicsauce over a transaction that is facilitated by banks regardless. So far in practice I haven't seen any evidence of the 'fast' 'cheap' and 'easy' transactions, like most recently with Mollie. They usually compare the fees of BTC>BTC transactions to the fees of Chase Mastercard > a fucking nomad in the Sahara (with consumer protection) to prove their point. The community also seems convinced that the entire world banks the way America does, not realizing that in Europe banking has been dirt cheap for years.
And the security... oh boy the security. Half the population can't manage to go without a virus for one year (not an actual statistic), and now you expect them to secure their coins? People are dumb as shit, and software is always one step behind the exploits. We could of course create Bitcoin banks, but then there isn't much left of the original idea.
On the 'intrinsic value' side: what the hell is wrong with people. If the underlying product is no good in any aspect, why is it worth much? Right now (that's like 5 years after introduction mind you) BTC is used in 3 types of transactions: Silk Road, SatoshiDice & extremely questionable transactions. It does its job well in that aspect, and that's all it will ever be. The community just turned the technology into a giant ponzi, and they don't care as long as they get paid. The people actually doing business in Bitcoin probably don't care about the price that much.

Someone who deleted their account, on the argument that merchant adoption is a cause of the price drop:
That's just an excuse butters use for the price going down.
There's no real difference between selling bitcoin for fiat and exchanging bitcoin for goods and services. Both are a form of sale of bitcoin, an expression of preference for something other than bitcoin.
If on balance, there's more flow of bitcoin into fiat, goods or services than there is a corresponding opposing flow, then it is simply the market expressing the view that bitcoin is overvalued. Therefore, the reduction in the value of bitcoin (as valued in fiat) is a sincere expression of the market's view of what the correct price for bitcoin is.
Think of an example: A true believer has 20 BTC. He exchanges 10 BTC with Dell for a whizzy server. Dell (or another intermediary) sell the 10 BTC at an exchange in return for fiat. The market price of BTC goes down.
The price goes down, simply because a true believer cut his bitcoin holding, he got out. He thought having a server now was worth more to him than 10 tickets to the moon. Which is an expression of a negative view of the future value of bitcoin. A simple "aggressive" sale in trading parlance.

A late entry from jstolfi. A concise description of the Satoshi/Bitcoin origin story .
My understanding is that "Satoshi" had been trying to solve the technical problem of convincing a bunch of anonymous, volunteers to maintain and protect a distributed ledger, with no central authority.
He thought that he had a solution, in the form of a protocol that included PoW, miner rewards, longest chain, etc. The solution seemed to work on paper; but, as a good scientist, he started an experiment in order to check whether it would also work in practice.
For that experiment to be meaningful, it would have been enough if the coin was mined for several years only by a few hundred computer nerds, with the cooperation of some friendly pizza places and bars.
The US$ price of the coin was not important to the experiment, and it was never meant to be a weapon for libertarians, a way to buy drugs or evade taxes, a competitor to credit cards or Western Union, a sound investment or item for day-trading. All those "goals" were tacked onto it afterwards.

bob237 comments on the the absurdity of coinbase and it's touted 'rebuy' scheme,
It gets even better than that, actually. A lot of bitcoiners don't like 'losing' bitcoin, and so coinbase added a popular 'repurchase bitcoin' feature that automatically debits your bank account to replenish the BTC in your coinbase account after a purchase.
The ultimate result then is that you pay coinbase fiat, they take their cut, and then send that fiat on to the merchant. All 'bitcoins' used in the middle of the transaction are not really bitcoins, but just abstractions in coinbase's internal [off-chain] accounting system.
It's a crap version of paypal, no consumer protection and a ton of fees hidden in the spread when you buy your chuck-e-cheese tokens from them.

saigonsquare explains why ubiquitous tipping isn't the the killer app that it has been touted as, and why bitcoiners may fail to grasp this
Most people understand that there are different sorts of interaction. There are purely social interactions, there are quid-pro-quo interactions, and there are market interactions. Mixing those up causes embarrassment and insult. I wouldn't try to pay my mother-in-law ten bucks for cooking Christmas dinner, and I certainly wouldn't try to pay her ten cents. If a waiter suggests I try the raspberry tart, I won't get away with offering to bake him some cookies next week in compensation; if an office mate suggests I have a slice of her birthday cake, I'll be insulted if she brings me a bill for it. If I spend an hour helping my friend move apartments and he thanks me, I'm fine; we're friends helping each other out. If he pays me two bucks, I'm insulted; he's canceled the social nature of the interaction and instead simply bought my labor for a fraction of its going rate. I'm up two bucks but down a friend.
Ancapspergers, not particularly understanding any sort of interaction more complicated than buying a cheeseburger at Wendy's, assume that all interactions are a form of market transaction, and set pricing accordingly. Normal humans get offended by a penny shaving, because it cancels the social nature of the interaction and turns it into a market transaction--and then informs the recipient that his contribution to the transaction was of negligible value.
submitted by occasionallyrude to Buttcoin [link] [comments]

The Concept of Bitcoin

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

Buying hashing power and mining

Good evening,
I found a website which sells hashing power in exchange for bitcoin. It costs 0.0631 BTC for 1GH per day. After calculating the prices i found out that since 0.0631BTC worth 181.13$ and if a mine with 1GH for 24 hours i can expect to make 0.6951ETH or 224.39$. Thats a nice profit of ~40USD
Is there anything wrong with my calculations? Because to me it doesnt make sense. If someone has the ability to mine with 1GH power why doesnt he mine ETH directly and make 40USD more instead of selling the power?
submitted by FlevasGR to EtherMining [link] [comments]

For every Bitcoin transaction, 47 kilograms of CO2 is released into the atmosphere from the miners alone.

Current hash rate: 261,900,382 GH/s
Number of transactions per day: 71,331
If we assume rather conservatively that 1GH/s = 1 watt on average, then this would mean 261,900,382W is being used to power the network. We can simplify this to 261,900 kW.
Some miners can do better than 1W per 1GH/s, but many if not most do worse (i.e. 2W per 1GH/s to 10W per 1GH/s).
Going by the figure of 0.527kg CO2 / kWh found on this page,
0.527kg CO2 x 261,900 kW x 24 hours = 3,312,511.2 kg CO2 per day
Now,
3,312,511.2 kg CO2 / 71,331 transactions = 46.44 kg CO2 per transaction
For comparison, even going by this Coindesk Article, an ATM produces daily 3.162kg in CO2 emissions.
0.25kwH x 0.527kg CO2 x 24 hours = 3.162kg/day.
That means that the carbon emission for one Bitcoin transaction is equivalent to about 15 ATMs processing perhaps hundreds or thousands of transactions in a day combined.
submitted by Charlie_Shrem to Buttcoin [link] [comments]

New Expanse Luna wallet now PUBLIC!

New Expanse Luna wallet now PUBLIC!

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"Welcome to the seventeenth edition of the Expanse Newsletter for 2018. This publication is a bi-monthly newsletter issued on the 1st and 15th of each month to share happenings within our community. Here are a few highlights in this edition:
  • The PEX Airdrop Happened. What now?
  • New Expanse Luna Wallet Now Public
  • New Chinese Expanse Website
  • Gameboard – We Believe in a World Where People Want to Play
  • Slips Partnership – A Winning Proposition for EXP-holders
  • Call for Tokenlab Beta-Testers
  • SomosExpanse our Digital Magazine in Spanish
  • Community News – Current Crypto Market Conditions – What’s Happening?"

THE PEX AIRDROP HAPPENED. WHAT NOW?


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As you know, the EXP team just airdropped a new token, PEX, to the Expanse and Tokenlab community. Airdrops are a straightforward way to bootstrap a user base for a new product, in this case, the Expanse Decentralized Exchange, EXPEX. The airdrop piloted the Tokenlab Airdrop module, one of the applications that comprise the Tokenlab self-service suite of products designed for ICO management. It went off without a hitch. (If you have not found your PEX, email [email protected].)
Expanse secured the services of an external development team to create EXPEX, and the final code has been delivered. We are in the process of branding the UI and will publish a launch date soon. So, hang onto your PEX!
Read more detail here about how it all works: https://expanse.tech/understanding-pex-token-utility/

NEW EXPANSE LUNA WALLET NOW PUBLIC

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The new Expanse wallet, Luna, is now public and ready for download. The download links are on the Expanse.tech website or you can use this link: https://expanse.tech/downloads/ The existing Expanse Mist wallet is a fork of the Ethereum Mist wallet. However, Luna is a wallet we developed with our own original code, and promises to be one of the most feature-rich wallets out there once all of the development is complete. For now, feel free to use either Mist or Luna. We will give you plenty of notice when or if we discontinue support of the Mist wallet version.
Many thanks to all of the Expanse Army 1st Lieutenants who participated in the beta-test. Please continue to report any bugs that may have not shook out during testing.

NEW CHINESE EXPANSE WEBSITE TO LAUNCH OCTOBER 1

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Our Chinese marketing team, led by Community Manager Alex Zhao, is putting the final touches on the Chinese version of the Expanse website. They project a 10/1 launch date.
Some of their other accomplishments include:
  • WeChat membership increased to 350.
  • QQ group increased to 500 members.
  • Submitted applications to two exchanges in China.
  • Participate as active beta-tester for Luna wallet.

GAMEBOARD – WE BELIEVE IN A WORLD WHERE PEOPLE WANT TO PLAY!

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Gameboard is an EXP.Grants partner. We asked their team to help us understand the gamification principles behind the Gameboard dApp. We learned that there are indeed scientific theories behind all of this play.
When talking about Gamification you automatically think about adding points to a platform to make it “fun.” However, there are many more factors that affect the degree of fun or interest in a game on the part of the players.
Many applications that have come onto the market use the basic principles of gamification as part of the design. We have covered them in other Expanse articles: Frameworks as Octalysis or 6D approach of gamification. It is important to establish that there are two important parts in the application of Gamification to a platform or system: Dynamics and Mechanics.
Dynamics consist of all the activities added to the game based on the actions of the players:
  1. Discovery phase: Listening, reading, observing and navigating to generate interest.
  2. Onboarding phase: In this phase, the user feels that he/she is advancing in a simple and orderly manner; he gets hooked.
  3. Scaffolding phase: After the user is already immersed in the game, he/she then seeks to improve and win. During this phase, users develop the greatest amount of challenges and require constant feedback.
  4. Endgame phase: Finally, we must give a closure to each activity. This is the end of the game, which is an important action—a huge challenge—that allows the user to feel that he/she has conquered the game. This phase is called Endgame. Just when the user is about to feel that he/she is finishing, we invite him/her to a new challenge, to a new objective—phase 2 or the next level.
In the design stage of a game (pertaining to the dynamics) the User persona is also established to model potential users. The needs, the objectives, the emotions and the feelings are also established during this phase of design.

I HAVE THE DYNAMICS, NOW WHAT?

This is the part where Gameboard comes into play and where the mechanics are necessary. The mechanics allow for establishing the points, levels, badges, challenges and other forms of measurement. The activities within the gamified process are recorded in this part. Without this, we would not have analysis of the information.
Gameboard saves and stores the information generated by the dynamics so that it can be analyzed and collaborate in the decision making. Even more important, it allows for recordkeeping and control of the actions of each player.
The fact that users can receive rewards is one of the most important features, especially because it is the way of measuring performance in terms of
  • Budget
  • How much the company has improved in performance (assuming that this was the goal)
  • Each award in time
  • Objects that have direct involvement with money

THE GAMIFICATION PLAYGROUND ON THE BLOCKCHAIN

By integrating Expanse blockchain technology, Gameboard safely stores each record of points earned by the player, these being value transactions that rely on the security and permanence of the blockchain to store and redeem points for the players.
There are two current lines of business for Gameboard:
  • Custom – The customized approach is based on integrations into existing platforms created by other companies or ventures. If they already have a system, Gameboard is integrated into this system and keeps track of points earned.
  • Standard – Add-ons, plugins or components in platforms that already exist in the market. We create these integrations to enter those markets. This will increase the number of transactions on the platform and users that interact in it.
For both options, Gameboard provides information analysis, progress, behavior and motivation across any of the different platforms. Gameboard respects the anonymity of the players, so it does not store sensitive information about its users.
Currently, we have finished the Gameboard base engine, the API that allows integration, and the user and administration platforms. Each section of the system is customizable so that it has the look and feel of your company or platform.
We are very close to launching the new functionalities including the integration with Expanse’s technology. So, stayed tuned!
We believe in a world where people want to play!!

SLIPS PARTNERSHIP – A WINNING PROPOSITION FOR EXP-HOLDERS

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We continue to be excited about the potential of the Slips project, which was one of the first batch of projects to receive grant funding from Expanse.
Did you know that straight out of the gate, EXP (Expanse) is the only payment option for the Slips platform? When the platform launches, people will only be able to make real money bets with the EXP token. Now would be a very good time load up on Expanse in advance of their launch!
As one community member surmised, “This is a great example of what makes the Slips partnership so awesome—Slips gamers will have to settle bets in EXP. People who have never had any interest in crypto won’t have a choice but to buy EXP if they want to use the platform for something that has already been demonstrated as a need in the online gaming community.”

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A quick reminder to those who aren’t up to speed on what Slips is hoping to achieve. The team are working on a project which will allow gaming fans to use the Expanse network to challenge each other to bets whilst watching their favorite streamers on platforms like Twitch.
In the last newsletter, we mentioned that it was possible for users to create channels and explore what was available on the Slips platform. Now you can even create your own profile. We decided to give the functionality a quick spin earlier and were amazed by how nice it looked!
As well as being able to make our profile look the way we wanted, we were able to post status updates, link our existing social media accounts, manage the official Expanse channel on Slips and even follow other users.
Take a look at the Expanse profile on Slips here https://slips.network/profile/EXP/home:

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If you are feeling adventurous (or curious!) why not register and make your own profile? The Slips team mentioned in an announcement in their Discord channel (https://discord.gg/mJHJ88U) that they are looking for help from users to iron out any bugs.
Meanwhile after successfully launching the profile feature, they are continuing to work hard to get the proof of concept released. They’ve spent the last week finalizing specifications and requirements for the next milestone in the project. The UI work has already begun and coding will also resume next week. We have a few sneak previews that we obtained below:
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We look forward to the launch of their dApp on the Expanse network.

CALL FOR TOKENLAB BETA-TESTERS

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Per the dev team, we are close to releasing some of the applications that comprise the Tokenlab self-service suite of products designed for ICO management. Recently we put out a call for testers to try out the beta versions of the Luna wallet. The response was overwhelming, and we qualified nearly 40 testers. These same testers have access to the private channels for Tokenlab beta testing. If you did not apply and want to test Tokenlab, complete the application form here
Beta-testers receive a promotion to 1st Lieutenant in the Expanse Army.

SOMOSEXPANSE. OUR DIGITAL MAGAZINE IN SPANISH


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Spanish is the second-most spoken language in the world. The market continues to grow—especially for the Expanse community. To that end, we have created SomosExpanse (We are Expanse).
SomosExpanse is a digital magazine whose purpose is to inform and educate about blockchain technology. The project is born from a motivated community, integrated and growing. To accomplish this, we have added a dedicated Spanish-speaking communications team to the Expanse infrastructure.
All of the Expanse project content routinely created in English (news, blogs, newsletters, social media posts) is translated and placed on the SomosExpanse platform. We also integrate articles from reliable sources, such as Criptonoticas and CoinCrispy, in order to offer more robust content.
We are focused on creating an interactive media strategy with valuable content, as well as constant updates about Expanse and the world of the blockchain. We developed a progressive APP for you to have it directly on your phone with notifications and amazing content.
This strategy is complemented by postings to social networks, including Diiscord, Instagram, Twitter and Steemit. We invite you to follow (and like) us on these social networks:
We have plans to replicate this communication strategy in many other languages, including Chinese and Japanese. We invite you to participate by suggesting other languages for the concept or by serving as an ambassador to help provide content. If you are interested or have any suggestions, please write to [email protected].
We are Expanse.

COMMUNITY NEWS

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Usually, we provide a list of compelling quotes gathered from community discussions. This time, we decided to feed back a narration of an important discussion that took place last week regarding the current crypto market conditions. In case you missed it, I’m sure you’ll agree that we have one of the most insightful, clever communities around.

CURRENT CRYPTO MARKET CONDITIONS – WHAT’S HAPPENING?

“What’s happening to crypto?” “What’s causing the prices to tank?” These are obvious questions on everybody’s minds these days as prices begin to tumble. Bitcoin lost close to $1000 in the last 10 days and Ether has lost almost 25% of its value in the last month. The situation is even grimmer for other altcoins. So what is really happening?
The Expanse Discord channel, if you know, is one of the most vociferous and active crypto communities out there and most of its members are astute students and passionate followers of the crypto phenomenon It was only fair that similar questions arose during an avid round of discussions and there were some interesting points of view from across the aisle regarding what was happening.
It started with a member saying that he thought that the end of crypto is near. He was worried that too many scams had taken their toll on a fascinating and promising phenomenon that has the ability to change our lives forever. However many projects gave false hopes and people lost a lot of money and in turn, their faith. The negativity that is being experienced in the market was a result of this disappointment and people trying to cash out their crypto assets as fast as possible. This would probably signal the collapse of a lot of altcoins. The member went on to predict that most coins will stop all development or activity before the year is over because cryptocurrencies just won’t be able to hold their value and people are seeing this more clearly with each passing day, fuelling the circle of fear and mass dumping.
To this, another member had an interesting observation. He said that what was currently happening to crypto is similar to what happened to dotcom in 2000. After the “dotcom bubble” burst, what was left were companies with real value, like Google that came out with a few bruises but emerged winners. Many companies followed what Google had done – build real value, rather than hype – and made a fortune for themselves, while transforming the industry.
A member observed that nobody is buying anything and he was surprised people are still selling at these prices. He thought it was kinda late in the game to think people are going to save what they have left.
The EXP token has also bore the brunt of this haphazard volatility. Market and volume patterns suggest that someone is buying EXP from the sell side just to sell into the buy side to strip the market of its BTC. Unfortunately, this strategy seems to be working pretty successfully.
A member, however, dismissed that people were specifically targeting EXP and said that while he agreed that there was a repeating pattern, it was market-wide. Most of the top coins have already lost around 88-95%of their January high values and many coins, especially the lower value ones, are hitting their introductory prices or even less.
He went on to further say that some people were dumping not just Exp, but everything from the lowest coin on the list all the way up to Ethereum. He called this action as a “purge” because it is likely that some of the projects will fail economically or just fail completely. To understand the severity of the situation, consider this. A project that raised $10M worth of Ethereum in an ICO in January 2018, now only had around $1.2M if they didn’t liquidate immediately. Most projects held their Ethereum reserves and have seen a severe erosion of their funds. Likewise, the value of the projects coins themselves are becoming worthless.
If you look at wallet balances on most projects, the top 100 wallets hold well over 90% of the total coins in any given project. Keeping in mind that some of these wallets are exchange wallets, that is still a little disheartening. The bitcoin whales are alive and are absorbing this tirade pretty well. They have so much BTC, they can’t cash it out so for them it is more of a game.
A member had an interesting take on the scenario. In his opinion, manipulators periodically use BTC to harvest altcoins from weak hands. Blockchain IS the future and some of them will become zillionaires sooner or later. Since blockchain is the future, there probably are governments, 3-letter agencies, armies, secret societies, hackers and criminals involved. In his opinion, anyone mining EXP currently and selling it is obviously a moron!
To this a member added a personal experience that he stopped mining EXP in April, because at the current price, with 1.1GH/s, he made 90¢ per day, after paying for electricity costs. This is obviously unviable. So the question he had is that if everybody bought EXP at a higher rate, who’s selling them at these rates? It is quite likely that they are selling at a huge loss.
There, apparently, are people who sold recently at 8¢ on the dollar to exit the market completely. They are done. They think the crypto market is dead. This was what is known in financial terms as “market capitulation.”
By definition, capitulation means to surrender or give up. In financial circles (from Investopedia), this term is used to indicate the point in time when investors have decided to give up on trying to recapture lost gains as a result of falling stock prices. Suppose a stock you own has dropped by 10%. There are two options that can be taken: you can wait it out and hope the stock begins to appreciate, or you can realize the loss by selling the stock. If the majority of investors decides to wait it out, then stock price will likely remain relatively stable. However, if the majority of investors decides to capitulate and give up on the stock, then there will be a sharp decline in its price. When this occurrence is significant across the entire market, it is known as market capitulation.
The longer a market stays in a state of capitulation, the longer it takes for investors to regain enough trust in that market to jump back in. This is what causes recessions. Once a recession has run for an extended period and market confidence is still low, it becomes a depression. This is when people like Warren Buffet would swoop in and buy anything and everything people were selling. His now famous adage says, “Be fearful when people are greedy and be greedy when people are fearful.” While it is difficult to agree with his brand of investing, but when it comes to financial advice, this one line reigns supreme. And this is exactly what’s going on right now.
One member found it funny when BTC purists say that BTC was created to replace the “corrupt” fiat system. They then look down at altcoins but at same time practically beg investors like Goldman Sachs or Buffet to invest in crypto. BTC forums are full of people like that, and you even get 50 merit points for simply saying “BTC rocks, all alts are shitcoins!”
At the end of the discussion, there was some sage and positive advice from a veteran – “Just gotta keep developing. Eventually crypto will have utility, it’s just taking forever because it’s so new. Right now people are buying on promises. We need promises to be kept in this space so that people have to buy out of necessity.”
Another member ended the discussion saying that while the crypto markets certainly look grim right now, everybody needs to understand that all markets move in cycles. What goes up will come down and judging from previous cycles, the crypto markets will certainly go back up again. Of course, not everything will go back up, but projects like Expanse, that have active development and goals they are working toward, will. The question is how long are you willing to wait?

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submitted by Lilmarianne to ExpanseOfficial [link] [comments]

Which is more productive? 1 GH/s for 2 hours or 2 GH/s for 1 hour?

On eBay, there are auctions for contract that promises mining for a number of hours at a specified strength (GH/s). The issue here is, sometime when compared between two different auctions, the cost per GH/s is the same. Which is better, low GH/s over a long period of time, or HIGH GH/s over a short period of time? In another word, is 1 GH/s for 2 hours better than 2 GH/s for 1 hour?
submitted by WhyYouNoAsk to Bitcoin [link] [comments]

Chill everyone, let's talk bitcoin internals, fundamentals and what it means for price.

So I've been watching bitcoin for a couple weeks, and i got a bit of my own dough into it.
Of recent everybody seems obsessed with the vast accumulation of wealth in the hands of few, and the hordes of panicky upstarts trying to get in, who might get screwed by falling prices (for instance see this lovely post
Hyperbole
Now I'm not saying that the doomsday scenario the prophets are peddling is impossible. But it's about as possible as the wonderland prophets who're hoping for a 100'0000% return.
Trojans
On a related note, yeah some trojan started targeting wallet.dat, surprise surprise. Incidentally, that the same machine you're making VISA payments from and operate your e-banking? You worried about that too? Not? Well I don't see VISA shares falling every time somebody infects himself with a keylogger.
Pricing
So I thought a fair bit about where prices are going to go, and why, and I asked a lot of people and talked this over, and after this, a few things remain that give some direction.
A price of a security (like bitcoins, or gold, stocks, fiat money etc.) is ultimately determined by supply and demand. If you understand supply and demand, you understand prices.
So an important consideration is who's bidding for bitcoins, and who's asking for a price to sell them, and what prices to these parties consider reasonable.
Buyers (bid)
This is a diverse group of people, it may include people who use the small but fledgling bitcoin economy to buy coins to pay other people in them. But by far and large, it's probably a speculation driven market, people buy bitcoins in the hopes the value will rise.
The psychology speculative buying ends up being about a zero-sum game. Somebody buys, somebody sells, the overall activity neither adds or removes coins from the market, and hence when viewed over long periods (months/years) this activity is just white-noise.
This defines the demand, and demand rises and falls with bitcoin popularity and confidence. Some week confidence may be low, some it may be high.
Sellers (ask)
This roughly falls into two camps. The speculative sellers and the miners.
Speculative selling (that is sells of coins bought earlier) is the other half of the zero-sum game, it neither adds or removes coins overall, and is hence just white noise.
Freshly minted coins (by miners) which enter the market are the real driver of supply.
The limited and small constant supply myth
Every 10 minutes 50 new bitcoins are found. That is a fact, and if it strays from that, the difficulty adjusts to keep it there. If you look at it purely from the point of view of scarcity, this would seem a small (but nearly ignorable) inflationary influence.
This however would be an over-simplification. There are substantial amounts of mined coins held by people who've been mining them for the better part of a year. They've been hoarding these coins, and commonly I'd refer to this group as bitcoinionaires. Their actually supply capacity vastly exceeds the day to day supply of fresh coins.
Since these stockpiles are the real driver of the supply, it's important to understand when the miners/bitcoinonaires will sell and when they will not.
Mining economics
The mined bitcoins where obtained by the activity you call mining. This is neither an easy nor free way to get coins. It takes energy, room, time to setup, etc. There are constant costs attached to this (paying rent and electricity) as well as recoverable costs (buying hardware to do it) and unquantifiable costs (work rendered to make it all happen).
You can think of mining as a business that has expenses and profits. In order for that business to work, the constant expenses must be covered, the recoverable expenses must be recoverable, and the work invested must be repaid.
This all leads to a fairly straightforward calculation which goes something like this: You pay around 1000$ for one 1gh/s (one gigahash per second) in hardware. Running that hardware you pay about 2-3$/day/gh in energy. If you factor in rent of some or another form, you probably pay between 1-5$/day/gh in rent. If you also factor in resale value decay of the hardware you bought, you immediately lose about 20% upon buying the hardware, and around 30%/year.
As a business you probably plan to run your miner for more then half a year, so about 50% of the hardware cost has to be recovered in a reasonable time-frame, say 3 months. Which means there's a hardware recovery calculation that you should do that factors in at about 2$/day/gh
If you sum that all up, you get a running cost of mining that is around 5-10$/day/gh.
One gigahash will get you about 1.2btc/day at current difficulty, which is at current prices somewhere around 17-20$.
It is fairly obvious that your expenses need to be lower then your profits. If they are not, what happens?
Difficulty
You may have heard about difficulty, in essence it is a constant value (for 2 weeks) that aims to keep the rate of fresh coins at about 50coins/10minutes. Obviously, the more difficult it gets, the less coins 1 gh/s will mint, and the more difficult the economy of a mining business becomes.
miner psychology
Since you can't simply acquire and sell hardware capacity on a dime (it takes weeks and months to do it), and since you will need months to recover your boot costs, miner selling is out of necessity a long-term affair.
So what can a miner do when the price of btcs falls below their operational cost?
bitcoinionaire psychology
If prices go down and you sit on a big pile of coins, you lose wealth. Nobody likes loosing wealth, I don't like it, you don't like it, the bitcoinionaires don't like it.
In order to become a bitcoinionaire you need to be a hoarder. If you wouldn't hoard, you wouldn't have tens of thousands of bitcoins. A hoarder essentially never likes letting go of his stash. You get rid of as little of your stash as possible to keep your risk and costs in a reasonable balance. Which means, these fat-cats depicted in the picture above, they didn't sell you all they had, not even a fraction. They sold you just about as much as they where personally willing to sacrifice. This means that they're still having the majority of their wealth in the game, and they absolutely do not want to see that devalued to zero.
I've talked to a bunch of these very decent folks, and their sentiment is that they're in for the long haul. True they'll sell "big" positions occasionally, but they keep the majority of their assets stashed away.
If you're expecting the miners/bitcoinionaires to suddenly explode with supply at lowering prices, you're most likely mistaken.
the difficulty/price correlation
For the reasons outlined above, there's a very simple correlation. If prices go down and difficulty goes up, by far and large supply dries out.
However lower prices drive demand (in bitcoin volume) up, because as the price goes down, the buying power (in $/btc) of the would-be buyers increases.
And if the market self-balancing fails, then the difficulty adjust will step in once enough miners have given up.
In sum these dynamics lead to deflation. Since difficulty and hardware turnover moves at a much slower pace then prices, prices are far more likely to adjust to difficulty then the other way around in the long term.
What does all of this mean?
Keep a cool head, and don't let the market fool you. Trust your fundamentals, technicals and sentiment analysis, and tightly control your risk only to what you personally can afford to lose.
If you buy in a mania or sell in a panic (we've see both the past 2 weeks), you're probably going to lose (or diminish your profits).
Study bitcoin and what drives it carefully and come to your own conclusion. Adjust your strategy carefully and maybe, one day a couple years from now, you can be a bitcoinionaire. If not, life is full of other opportunities, so just pick yourself up and try the next.
So chill everyone, and have a good time :)
submitted by pyalot to Bitcoin [link] [comments]

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