THE BEST BITCOIN CLOUD MINING .SIGN UP BONUS 30 GHS - The ...

Fotonhash Cloud Mining & GPU servers rental

Fotonhash Cloud Mining & GPU servers rental is the procedure which implies using a remote datacenter with a shared computing system. Utilizing this system, the miner can access the processing power of the whole computer network. This type of mining makes it possible for the users to mine bitcoins or other cryptocurrencies without managing the hardware. Another name for this process is bitcoin mining.
All the mining equipment is placed and maintained in a special facility. The user simply needs to register and conclude a contract with the mining company. In general, cloud mining is a service which entails some expenses and it can result in lower returns for the miner. How does Bitcoin Cloud Mining Work? Such type of mining means a host company owns the hardware and runs it at a facility. The customer pays the company and rents some of the equipment. The earnings depend on the amount of hash power rented. Actually, the customer gets a share of payments for any revenue generated by the hardware.
Types of Hosting There are several variants. Users can lease either:
In the third case customers can either select a necessary amount of hashing power and a contract period or in some situations can trade their power. Is This Type of Mining Profitable?
It depends on the miner’s goals.
If it’s necessary to get bitcoins, then it is easier just to buy them. If the user wants just to try mining, it’s better simply to buy an affordable USB miner and run it in-house. In case mining is treated as a long-term perspective and the miner is ready to make some investments, then cloud mining is the best solution.
All in all, cloud mining is worth speaking about in terms of profit and convenience. Fotonhash provides fast and reliable GPU servers for variable services, including: Deep machine learning, Crypto currency mining, Video rendering, VAR design. Rent GPU servers with per-month payment from Fotonhash right now- https://fotonhash.com
submitted by farwa786 to u/farwa786 [link] [comments]

10-25 17:53 - 'Around the world on 1 BTC -- my book's all finished.' (self.Bitcoin) by /u/markfromearth removed from /r/Bitcoin within 0-6min

'''
Afternoon all,
And a happy afternoon it is, what with Bitcoin soaring!
Reminds me of my trip back in 2017.
I bought 1 BTC for $4.7k and set off to 20 countries for 12 months all on that 1 coin.
Wild ride. Met John McAfee and asked him about all the scams he's running. Asked Vitalik Buterin about life on mars. Got arrested by the police in Cairo. Slept under a bridge after my couchsurfing host bailed. A real roller coaster from start to finish.
Rode it to $20k in early 2018 before riding it back down to $5k.
Well, as promised, I finished writing the book about it. Or at least half the book.
Stolen Wallets: And Where to Buy Them
Here's the back cover blurb:
-------------------------------------
What's in your wallet?
You okay with a stranger poking through it? I'm not. Never in a million. My wallet is my private little hell. Receipts for things I can't afford and a picture of an ex I still miss. But there I was, standing in a grubby back alley in Bangkok. Wallets that once belonged to other people -- scattered on a table in front of me: Crocodile skin Gucci, scuffed generic brown leather, even a DIY duct-tape wallet -- each and every single one stolen. Curiosity killed my ethics. I picked one up. It was full. Not with money, of course, but with ...
These are the stories of my travels.
Before all this I was a desk jockey. Putting in my 9-to-5. Binge-watching Netflix alone. Then I bought 1 bitcoin -- and it started to skyrocket. Little did I know it was my golden ticket. From China to Europe. 20 countries, 12 months, and my skyrocketing bitcoin. A red carpet to a world of fast money, greed, hype, hope and corruption. Wild crypto parties. Fake tits on fake friends. Stacks of counterfeit money. Stolen wallets. Then the bubble popped -- and the world of the newly rich began burning down around me.
-----------------------------
It's a short book. 40 something pages. It's the first half of the whole story. That's why it's only $5.50 for the paperback on Amazon -- that's the lowest Amazon let's me go (break even).
I figured it's best to test the waters first. I'm not the best writer. No Pulitzer prize gathering dust on a mantel.
Putting together this first half took months of writing, re-writing, and drinking until the words looked right.
Not much more to say besides posting the "1st chapter" (It's more of a logbook entry) down below and a link to Amazon.
[[link]4
Previous Reddit post:
[[link]5
website:
[[link]6
-------------------------------------
Logbook. Entry 1.
T minus 2 days to launch.
On the black market…
My liver is worth: 55.78 bitcoins.
One of my kidneys: 16.41 bitcoins (if sold in China) and 4.11 bitcoins (if sold in India).
My skeleton: 0.99 Bitcoins -- spooky cheap.
My dick? Hm. I can’t seem to find a reliable source for black market cocks.
That’s not good.
Listen, say I get kidnapped -- which is entirely possible where I’m going. Then, after a few days of torture, the kidnappers say: “Deeply sorry about this, young man, but since no one came through with your ransom we’ll need to go ahead and harvest one of your major organs -- have a preference?”
If the black market ran rife with naughty bits -- and my drinking habits still required a functioning liver -- I’d go ahead and have them lop off my cock.
*sigh*
Welcome, ladies and gentlemen, to my brain at 2 o’clock in the morning. I can’t stop thinking. I can’t stop worrying. In a few very short days I fly away. Away from my family, my friends, the friendly neighborhood dog I pet on my way to work (Good old Charlie, with his lopsided ears and robber-scaring bark). In short -- away from everything I know. Away from home.
And for what?
To travel around the world … on 1 bitcoin.
  1. Beijing -- Bitcoin is banned. And I’m going during military prep for the 19th Congress of the Communist Party. Real solid timing on my part there.
  2. Shanghai -- China’s largest underground smuggling hub for opium, molly, cocaine, and black-tar heroin. Also -- I could be fined and jailed for jaywalking.
  3. Hong Kong -- I can buy a fake Rolex for $10, or a real one that ‘fell off the back of the truck’ for $1500. Do they accept Bitcoin?
  4. Burma (Myanmar)-- This is where shit hits the fan. There’s a genocide boiling in NorthWest Burma. The Army is herding minorities and burning their villages. I’ve heard BTC helps them escape.
  5. Cambodia -- Tourists are given the option to rent rocket launchers ... and blow up cows. Jesus Christ. Unreal. Are cryptocurrencies involved?
  6. Bangkok -- The sex trafficking capital of S.E. Asia. Massage parlors, ping-pong shows, and “happy endings.” Will this country be my happy ending? (Note to editor: delete that joke. I can do better).
  7. The Philippine’s -- “President Rodrigo Duterte urges citizens to shoot drug addicts in the streets.” He promised enough drug dealer bodies would be dumped in Manila Bay that fish there would grow fat from feeding on them. Does the same go for BTC traders?
  8. India -- Transplant tourism. The Red Market. Hearts, lungs, livers handed off for a digital wallet full of crypto -- none of which goes to the victims. Perhaps if I get desperate I’ll sell a kidney.
  9. Africa -- Not sure which country I’ll wind up in. Not sure if I’ll even make it. One bitcoin is not exactly a hefty sum. By this point I’ll be running out -- and that’s if the value of my single bitcoin hasn’t buried it’s two front teeth in the dirt.
  10. Europe -- who am I kidding? The odds of me arriving in Europe with my wallet in one hand and my dick in the other are as tiny as both those things.
The goal: 365 days. 12 months. 1 year… on 1 bitcoin. To survive I’ll need to couchsurf, eat cheap street food, and rely on the kindness of strangers -- cryptocurrency strangers.
If I accidentally trade my bitcoin for counterfeit money -- I’ll go to foreign prison. If I get food poisoning -- I’ll end up in a 3rd world hospital. If a couchsurfing host bails on me -- I’ll be sleeping under a bridge. If I trade my bitcoin in a non-public place -- I’ll get mugged. But if I trade in a public place I could be mistaken for a drug dealer -- and shot. In fact, I’ll need to make a supremely concentrated effort to not get jailed, mugged, stranded, or shot. Jesus, no wonder I can’t sleep. Why am I doing this?
2 weeks ago.
A local Denny’s Diner.
All-American breakfast -- a weekend routine for my father.
“Bitcoin is not money.”
“Dad.”
“Bitcoin will never be money.”
“Dad.”
“And you should shave off your beard.”
“....It’s a good beard, dad.”
The waitress politely offers to refill his coffee. He waves her away.
“You’re mother keeps calling me. She used to never call me. I’ve worked hard to keep it that way. Now she’s calling me day and night. Worried sick.”
“She’s a good mom.”
“She’s a pain in the ass. You’re a pain in the ass. She calls me, telling me to talk you out of going, reading me headlines,” he continues while salting his eggs aggressively, “Jealous Gay Husband Uses Bitcoin to Hire Hitman. Sex trafficking on the Silk Road with Bitcoin. Terrorism on the rise with the rise of Bitcoin. I’d hang up but she’d call me back with ten more.”
“Not to worry, sheriff. I won’t be financing a revolution.”
“What will you be financing, hm? With this magic internet money?” He waves a breakfast sausage at the grocery store across the street. “Say I have a mind to go shopping. Fill the fridge. Put bread, butter, and beer on my table tonight. Think the teller will let me pay with your Facebook likes? Hm? Because that’s what they are. These bitcoins, these junkie frequent flier miles. About as useful as condoms to the Pope.”
I had to laugh at that one. “That’s the spirit, sheriff. That’s what I’ll be traveling to find out. What the hell I can finance. What can I buy with my magic internet money.”
“And how much of this fairy dust do you own?”
“One. I bought one Bitcoin.”
“And how big a hole did it burn in your wallet?”
“Four thousand, seven hundred dollars...and change.”
Dad’s not the type to bulge his eyes out in surprise. His is the clench of the jaw that markes his disapproval. “You could have put that money toward getting your shit together.”
I met his disapproval. “This is me getting my shit together.”
“That a fact? And how much is your one pedobuck worth today?” he says, scrutinizing me over his cup of coffee. Waiting. He used to be a great cop. It’s why I never could get away with anything as a kid. Still can’t.
I look away. “Four thousand two hundred.”
“Down five hundred bucks, already?”
“Yup.”
“In one week?”
“Something like that.”
Times like this. Right here. Times like this remind me of those unimaginative books where the author writes “and then he picked at his food.” What a terrible line. Overused. Unimaginative. But here I am ... picking at my food. No matter how old I get, dad’s disapproval will always be something special.
“You know what you might have done with that money? Hm?” He tosses his used napkin on his empty breakfast plate. “Gone to a barber. Shaved your beard.” Down went the last swig of his coffee. “Looked for another engineering job. Got another engineering job. Used that fancy university degree you’re still in debt for.”
“I’ve been trying.”
“Try harder. Get your shit together.”
“Sheriff, I -”
“Listen, my genius son, I will not bail you out. I will not let your mother bail you out. We do not have the money. What you are doing is a mistake. It will end in failure.”
“Sheriff-”
“I am not finished. You have never taken a trip remotely like this in your entire life.” He always had a remarkable way of raising his voice without actually raising his voice. “I will not be speaking ching-chong Chinese to some oriental dipshit deputy because you stuck your finger in someone’s else’s dumpling. Your mother will not fly out to Cambodia with a steaming bowl of chicken noodle soup because you ate tapeworm salad. And God forbid. God forbid you get taken, held for ransom, or sliced open.”
“I understand.”
“You do not understand.” He begins ticking off fingers. “If you get stranded. If you get imprisoned. If you get hospitalized. If someone steals your magic computer fairy dust. Nobody will bail you out. There will be no cavalry. You will be on your own. Alone.”
And now the silence. Silence like a large wave going out, giving you time to change your mind, time to rethink your life choices. Before the wave returns to knock your sandcastle out.
“No, Sheriff, I’m doing this.”
“Why?”
“To find out if bitcoin is money. If it has a future.”
“Unacceptable. Stick your nose in a book about it. Why do you want to go?”
“I’ve never done anything like this before. This’ll test me. Make me grow.”
“Pussy of a reason,” he growls. “Why are you going?”
“I don’t know. But I’ll find out.”
……….
….
After awhile he stands. “Remember.” He takes out his wallet. “You get on that plane --- and there won’t be no cavalry.” Withdraws a few crisp bills. Tosses them on the table. “And only money … is money.”
------------------------------------------------------------------------------------------------
Let me know if you enjoyed it or not.
I could keep posting logbook entries? Or I could read it on Youtube. Post the whole book chapter by chapter. Not like Amazon needs the money, amiright?
And if it's no good, say that too. Saves me time since I won't need to write the rest.
'''
Around the world on 1 BTC -- my book's all finished.
Go1dfish undelete link
unreddit undelete link
Author: markfromearth
1: www*amaz*n.com/St**e**W**let*-W**re-Buy-Th*m*dp/108*0855*6/ 2: *ww.reddit.com**itco*n/com*ents/*gh*eb/i_***vele*_the_w*r*d_on_*_bt*_*nd**i**ll*/ 3: bitcoi*a*oun**heworld*com* 4: ww*.amazo****m/S**len-W*llets-Where**uy*The*/dp/10*608556**]*^1 5: ww*.r*d*it.*om/Bitcoi*/com*ents/**h*eb*i\*trave*ed\*the\_wor*d*_o*\_**_btc\***d\_final*y/**^2 6: bitco*nar*u*d**e*o*ld.com/]^*3
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

howmanyconfs.com - How does the security of different Proof-of-Work blockchains compare to Bitcoin?

https://howmanyconfs.com
Original post in Bitcoin here: https://np.reddit.com/Bitcoin/comments/biokgy/howmanyconfscom_how_does_the_security_of/

https://github.com/lukechilds/howmanyconfs.com/raw/mastescreenshot.png

How are these values calculated?

It's easy to compare blockchain hashrates when the Proof-of-Work algorithm is the same. For example if Bitcoin has a hashrate of SHA-256 @ 40 PH/s and Bitcoin Cash has a hashrate of SHA-256 @ 2 PH/s, it's easy to see that for a given period of time the Bitcoin blockchain will have 20x (40/2) the amount of work securing it than the Bitcoin Cash blockchain. Or to say that differently, you need to wait for 20x more Bitcoin Cash confirmations before an equivalent amount of work has been done compared to the Bitcoin blockchain. So 6 Bitcoin confirmations would be roughly equivalent to 120 Bitcoin Cash confirmations in the amount of work done.
However if the Proof-of-Work algorithms are different, how can we compare the hashrate? If we're comparing Bitcoin (SHA-256 @ 40 PH/s) against Litecoin (Scrypt @ 300 TH/s), the hashes aren't equal, one round of SHA-256 is not equivalent to one round of Scrypt.
What we really want to know is how much energy is being consumed to provide the current hash rate. Literal energy, as in joules or kilowatt hours. It would be great if we had a universal metric across blockchains like kWh/s to measure immutability.
However that's fairly hard to calculate, we need to know the average power consumption of the average device used to mine. For GPU/CPU mined Proof-of-Work algorithms this varies greatly. For ASIC mined Proof-of-Work algorithms it varies less, however it's likely that ASIC manufacturers are mining with next generation hardware long before the public is made aware of them, which we can't account for.
There's no automated way to get this data and no reliable data source to scrape it from. We'd need to manually research all mining hardware and collate the data ourself. And as soon as newer mining hardware comes out our results will be outdated.
Is there a simpler way to get an estimated amount of work per blockchain in a single metric we can use for comparisons?
Yeah, there is, we can use NiceHash prices to estimate the cost in $ to secure a blockchain for a given timeframe. This is directly comparable across blockchains and should be directly proportionate to kWh/s, because after all, the energy needs to be paid for in $.
How can we estimate this?
Now we have an estimated total Proof-of-Work metric measured in dollars per second ($/s).
The $/s metric may not be that accurate. Miners will mark up the cost when reselling on NiceHash and we're making the assumption that NiceHash supply is infinite. You can't actually rent 100% of Bitcoin's hashpower from NiceHash, there isn't enough supply.
However that's not really an issue for this metric, we aren't trying to calculate the theoretical cost to rent an additional 100% of the hashrate, we're trying to get a figure that allows us to compare the cost of the current total hashrate accross blockchains. Even if the exact $ value we end up with is not that accurate, it should still be proportionate to kWh/s. This means it's still an accurate metric to compare the difference in work done over a given amount of time between blockchains.
So how do we compare these values between blockchains?
Once we've done the above calculations and got a $/s cost for each blockchain, we just need to factor in the average block time and calculate the total $ cost for a given number of confirmations. Then see how much time is required on the other blockchain at it's $/s value to equal the total cost.
So to calculate how many Litecoin confirmations are equivalent to 6 Bitcoin confirmations we would do:
Therefore we can say that 240 Litecoin confirmations are roughly equal to 6 Bitcoin confirmations in total amount of work done.

Notes

$/s doesn't mean what it sounds like it means.

The $/s values should not be taken as literal costs.
For example:
This is does not mean you could do a 51% attack on Bitcoin and roll back 6 blocks for a cost of $360,000. An attack like that would be much more expensive.
The $/s value is a metric to compare the amount of work at the current hashrate between blockchains. It is not the same as the cost to add hashrate to the network.
When adding hashrate to a network the cost will not scale linearly with hashrate. It will jump suddenly at certain intervals.
For example, once you've used up the available hashrate on NiceHash you need to add the costs of purchasing ASICs, then once you've bought all the ASICs in the world, you'd need to add the costs of fabricating your own chips to keep increasing hashrate.

These metrics are measuring "work done", not security.

More "work done" doesn't necessarily mean "more security".
For example take the following two blockchains:
Bitcoin Cash has a higher $/s value than Zcash so we can deduce it has more "work done" over a given timeframe than Zcash. More kWh/s are required to secure it's blockchain. However does that really mean it's safer?
Zcash is the dominant blockchain for it's Proof-of-Work algorithm (Equihash). Whereas Bitcoin Cash isn't, it uses the same algorithm as Bitcoin. In fact just 5% of Bitcoin's hashrate is equivalent to all of Bitcoin Cash's hashrate.
This means the cost of a 51% attack against Bitcoin Cash could actually be much lower than a 51% attack against Zcash, even though you need to aquire more kWh/s of work, the cost to aquire those kWh/s will likely be lower.
To attack Bitcoin Cash you don't need to acquire any hardware, you just need to convince 5% of the Bitcoin hashrate to lend their SHA-256 hashpower to you.
To attack Zcash, you would likely need to fabricate your own Equihash ASICs, as almost all the Equihash mining hardware in the world is already securing Zcash.

Accurately calculating security is much more complicated.

These metrics give a good estimated value to compare the hashrate accross different Proof-of-Work blockchains.
However to calculate if a payment can be considered "finalised" involves many more variables.
You should factor in:
If the cryptocurrency doesn't dominate the Proof-of-Work it can be attacked more cheaply.
If the market cap or trading volume is really low, an attacker may crash the price of the currency before they can successfully double spend it and make a profit. Although that's more relevant in the context of exchanges rather than individuals accepting payments.
If the value of the transaction is low enough, it may cost more to double spend than an attacker would profit from the double spend.
Ultimately, once the cost of a double spend becomes higher than an attacker can expect to profit from the double spend, that is when a payment can probably be considered "finalised".
submitted by dyslexiccoder to CryptoCurrency [link] [comments]

Why I believe we're on the cusp of the 3rd great Bitcoin bubble

We've recovered from the last crash
You might think it's a bit early (based on the time frame for the last recovery), but things are looking a lot different than in 2011. I would suggest its because the last bubble popped prematurely due to Mt. Gox's failure of a trading engine.
Interest in buying Bitcoins has gone up to its highest point since the last bubble.
There's a similar spike in general interest. Partly helped along by the Silk Road news.
The network is being used at the same rate as during the last bubble.
The Bitcoin ATM story (see below) is causing Bitcoin to trend in Canada on Google (was #1 for a bit). The $27 story (see below) will almost certainly cause a large spike worldwide in Google trends once they're updated up to yesterday.
Lots and lots of new businesses now accept Bitcoins
One legitimate criticism of Bitcoin last year was the lack of places to spend them. We basically just had Alpaca Socks, Reddit and Wordpress, we've grown a lot since then!
Charities and others are taking donations
The first Bitcoin I ever spent was to donate to Wikileaks. More and more places are setting up Bitcoin donation buttons, because why not?
The $27 story is going massively viral
I think the attention this story is getting took a lot of us by surprise. We're thinking "of course if you bought Bitcoins in 2009 you're rich" and it didn't make much of a splash. But to the rest of the world it's a very novel and interesting story.
The first Bitcoin ATM has been installed
Easier way for people acquire Bitcoins with cash. Lots of free publicity. More machines are on their way and will generate more and more news.
Institutional money is coming
Afraid with the price at $200 that it will be hard to find enough moms and pops to keep money coming in faster than miners are selling? Don't be, there are individuals out there with a net worth higher than the entire Bitcoin ecosystem.
Interesting new developments
Cool things that didn't exist before the last bubble (as far as I remember).
Governments are explicitly saying it's not illegal
More and more governments are either saying Bitcoins are legitimate currency, or releasing guidelines for exchanges to comply with anti-money-laundering laws.
New generation of exchanges
Mt. Gox's terrible trading engine was a huge factor in the last crash. They couldn't keep up with all the new interest.
This time around there are more exchanges in more countries, and not a single point of liquidity.
submitted by DTanner to Bitcoin [link] [comments]

Just my personal opinions on all matters at hand

There are various things that are going on in the community right now. They include the price of doge, the installment of ASICs, and publicity.
Now let's start off with the price of doge. There are several of people here that are invested in doge and see it as a form of investment. I personally have no fiat invested in cryptocurrency. I mined and received some bitcoins and other cryptocurrency which I occasionally day trade to make a profit. For me, if the price falls to nothing or everything just goes balls up, my wallet will not feel anything. Currently, all cryptocurrency is down about 10-15%, even lower in some areas, across the board, although the volume is still there. Now, I see cryptocurrency as a long term investment. I can not predict the future, but there is always a chance of something catastrophic happening and everything just goes poof. However, there is also a chance of it exploding and maybe, just maybe, reaching 10 cents for 1 dogecoin. I'm in this for the long run and I'll be here for better or for worse.
Now onto the installment of ASICs and the impeding arrival of high hashrate ASICs. We fear ASICs. Simple as that. ASICs are already deployed with Gridseeds and I'm more than certain the companies are burning in their ASICs as I type this. ASICs should not change the game at all for us. By the time the high hashrate ASICs arrive, Dogecoin will be near its end of mining. There is no need, in my opinion, to switch algos or anything else. Just leave it how it is. I already know someone with 1 GHS worth of gridseed power, yes 1 GHS of mining power from ASICs. I even saw it in action when we were mining a different alt coin. However, he is just having it be rentable and when the ASICs aren't being rented, he has them on a multipool. He just wants to profit which is understandable, since 1 GHS worth of power is quite expensive and impressive at the same time. Anyways, all in all, I believe we should not fear ASICs.
Finally publicity. With our recent successes, most notably with the DogecaJosh Wise. I often see posts and links that give us "bad" publicity. There is a saying that many of us know, "Any publicity is good publicity" (or something along those lines). For writing an article, a bias will always exist. However, there is nothing we can do. We could email them and tell them they are wrong, but to me, its not worth it. Most of the time, these journalists are hard heads. You rarely see bias in major newspapers (NYTimes, Wall Street Journal, BBC, etc) since they're there to give information. Local newspaper, or more region based ones, tend to show more bias, however, I'm sure the locals will know who is bias and who is not. People who are interested in Dogecoin will use the ol' Google machine and look up "Dogecoin". The 3rd link is this subreddit. They may post an account or browse around and see that what they may have read was completely wrong or completely correct. Let me sum this up with a hip quote, "haters gonna hate".
I know I rambled on and I'm sure my writing is notorious and riddled with errors since I'm listening to music and trying to finish my drafting house project which is due tomorrow. I'm pretty sure this should make sense. This will also probably get buried under everything else but that's okay because, well, for lack of better terms, I'm procrastinating. Well, gotta go finish my homework now. Till next time shibes, this is Takumi Yamamoto signing off.
submitted by TakumiYamamoto to dogecoin [link] [comments]

Most alt-coins are NOT secure enough, they exist only for entertainment and speculation

(I believe this needs to be posted to /bitcoin as Bitcoin users/enthusiasts need to know the difference between Bitcoin and other cryptocurrencies. About author: I'm subscribed to /bitcoin since 2011, and have been involved in cryptocurrency security research for several years.)
Let's talk about security aspect of cryptocurrencies. I'm afraid an average user knows very little about this topic: he might know that hashrate is needed to protect the blockchain, and that higher hashrate is better, as it implies that attacker needs to spend more to get control of the blockchain.
But there is a plenty of other kinds of attacks (or, rather, economic models of attacks), some of which have much higher practical significance.
Let's start with something simple: there is a straightforward and rigorous model of double-spending attack under condition that attacker has a fraction of total network's hashrate. I highly recommend Meni Rosenfeld's Analysis of hashrate-based double-spending paper (PDF).
The main takeaway from this paper is that "maximal safe transaction value" is directly proportional to block reward (i.e. amount of coins miners get for each block). It is easy to understand this intuitively: bigger reward means that miners get more money from normal mining, so they will be reluctant to try double-spending attacks. On the other hand, if block reward was negligible, double-spending could be a lucrative source of revenue.
Let's look at numbers: if attacker controls 26% of hashrate and number of confirmations is 6, maximal safe transaction value is 1113 BTC when block reward is 25 BTC. This is pretty cool: you only need to wait 1 hour to make sure you irreversibly received half million USD worth of bitcoins (I assume exchange rate of $450 for 1 Bitcoin).
However, situation is pretty different for alt-coins which have much less valuable block rewards. For example, imagine there is a Foocoin with exchange rate of $1 for 1 Foocoin. If Foocoin's block reward is also 25 foocoins, then max save transaction value for 6 confirmations is only $1113 USD worth of Foocoins. It doesn't look like Foocoin is suitable for commerce, does it?
One could say that Foocoin simply requires larger number of confirmations for larger transactions. But that's wrong: higher number of confirmations helps only under condition that attacker is unable to obtain more than 50% of total hashrate, but for most alt-coins it isn't true.
First of all, let's note that so-called miners simply rent their equipment to "mining pool operators" and are paid in crypto-currency for it. In many cases they don't even care what cryptocurrency they mine as long as they are being paid. See Middlecoin:
This pool automatically mines the most profitable scrypt coin, automatically exchanges those coins for bitcoins, and pays out entirely in bitcoins.
So, miners who mine using Middlecoin do not know if their equipment is being used to mine Litecoins or Dogecoins or something else. And they wouldn't care if it is used for attacks on alt-coins, as they are being paid in bitcoins.
Let's consider a scenario where Middlecoin-like pool has higher hashrate than Foocoin, e.g. Middlecoin (not Middlecoin specifically, but any pool like that) has 20 GH/s, while Foocoin has 10 GH/s. Here's how one can profit from it:
  1. Buy $1M worth of Foocoins, get them into your wallet.
  2. Make an agreement with Middlecoin: you rent they hashrate for a couple of hours, paying them in bitcoin, slightly above what most profitable alt-coin yields.
  3. Send your foocoins to exchange Bar.
  4. Start mining a private chain which has a double-spend transaction which sends coins to exchange Baz.
  5. After your transaction gets 10 confirmations on the normal chain, convert foocoins to bitcoins on Bar and withdraw them immediately.
  6. After withdrawal transaction is confirmed on Bitcoin network (and thus cannot be reversed), you release the private chain you have mined, causing reorganization. You should have mined 20 blocks by then under if Middlecoin has hashrate which is twice higher than normal Foocoin's hashrate.
  7. Your deposit to exchange Baz is now confirmed, converl your foocoins to bitcoins again, and withdraw immediately.
  8. A day later 20 blocks you have mined will get mature, and you'll be able to sell them too.
If Foocoin price doesn't change in process, you can get approximately $1M profit on this attack, as cost of renting a mining pool is approximately equal to value of mined blocks.
In practice, you'll lose some money due to lack of liquidity on exchanges, so profit will be less than $1M.
The conclusion we get from this analysis is that alt-coins which have only a small fraction of total hashrate for a certain mining algorithm are extremely non-secure. And they cannot grow big: as soon as exchanges will have enough liquidity, it will be possible to perform the attack I described, which will result in the price drop.
So almost all alt-coins are simply not suitable for any kind of "real economy" applications. They are doomed to have high volatility, shallow markets, low "max safe transaction value".
One can't deny the fact that it is possible to make money on alt-coins. But that's just gambling. And people who create new alt-coins are in same position as people who build casinos. It is a business, but it is the entertainment sector, not in 'real economy' or 'financial' sectors as some people are trying to pretend.
Bitcoin is one of few cryptocurrencies which are actually serious. It isn't perfect, but attacking Bitcoin is very hard, so transactions worth millions of dollars can be confirmed in matter of hours. Same cannot be said about alt-coins, and this situation won't change unless new cryptocurrency designs will be found.
If there is an alt-coin which is more-or-less secure, it is probably Litecoin. Its hashrate is a significant fraction of total scrypt hashrate, so attacking Litecoin is hard. Interestingly, at some point Dogecoin's hashrate was higher than Litecoin's but it dropped after block reward have dropped. So, again, block reward is important for security.
This has dire implications for alt-coins which have short block reward schedules. If all coins will be mined in two years, this mean that alt-coin will be dead in two years.
(It's worth noting that same problem might affect Bitcoin in future, like in 10 years or so.)
Now there is a question: Is there a way to make multiple currencies all of which will be secure?
Probably. There are several approaches:
  1. Merged mining: The idea is that Bitcoin's proof-of-work can be re-used to mine alt-chains. This makes attacks harder, but hashrate-based double-spending considerations are still applicable, so safety can't be guaranteed... They will be safe only if miners are benevolent.
  2. Side-chains: This needs more research, but it looks like high degree of security is possible as long as you don't care about SPV.
  3. Proof-of-stake and PoW/PoS hybrid: Needs more research, there is some hope. Note that Peercoin's PoS is pretty bad.
  4. Multiple cryptocurrencies in the same blockchain (e.g. colored coins, Mastercoin, Counterparty, Ethereum, Ripple, etc.) will all be equally secure, so I believe this is what we should do instead of spawning a shitload of alt-coins.
submitted by killerstorm to Bitcoin [link] [comments]

Models for evaluating block reward and framing the discussion

This community is currently tackling the question: What should the block reward be? The purpose of the block reward is to encourage mining. The network inflates it's supply of ETH and this is paid to miners when they win a competition to produce a block. The intensity of the competition (hashrate) provides security to the network by assigning a cost to launching an attack. An attacker would need to harness 51% of the network hashrate in order to corrupt the intended operation of the network. The encouragement of mining has it's own costs that I would say are principally economic and environmental. We know that the environmental cost is of particular concern because this community has plans to move from mining (PoW) to an alternative where the environmental costs do not exist because the environmental cost will no longer exist. The objective of mining is securing the network yet this activity has costs so we now at least have an answer to the question of What should the block reward be? As low as it can be while maintaining adequate security. Unfortunately that answer is not complete because it begs the further question: What is adequate security?
The following are some suggestions on how to investigate What is adequate security?:
Compare to Bitcoin
In A Case for Ethereum Block Reward Reduction to 2 ETH... (discussion) it's argued that the ratio of the fiat value of the rewards to miners of both Ethereum and Bitcoin should match the ratio of their respective market capitalisations. This would seem to imply that the value the Bitcoin network places on the economic and environmental costs due to mining is also appropriate for the Ethereum network.
Historical perspective
For a large portion of the second half of 2017, Ethereum had a market cap around what it is right now. During that period the network hashrate was around a third of what it is now. The community was so confident in the security that hashrate provided that it opted to reduce the block reward from 5 to 3 ETH/block. A comparision of the $ value of the block reward to the hashrate shows no period where hashrate has significantly declined despite periods where the $ value of the block reward has dropped significantly.
Cost to Attack
Using a service called NiceHash it is possible to rent Ethereum miners for 0.0036 BTC/GH/day. At the current hashrate, and assuming the miners were available, it would cost 540 BTC ($3.5m) to 51% attack the Ethereum network for the day.
Compare to PoS economic penalties
My (limited) understanding is that CaspePoS works by impossing an economic penalty (slashed deposits) on validators who do not behave correclty. If enough validators were willing to see their deposits slashed then they could corrupt the intended functioning of the network. Would it make sense to compare that economic cost to the cost to launch a 51% attack on the current Ethereum PoW chain?
Mining Profitability
This spreadsheet shows profitability waterfalls at various power prices and block rewards for a GPU, an AntMiner E3, and the yet to be launched Innosilicon A10.
submitted by carlslarson to ethereum [link] [comments]

Proposal to Charlie Lee: Why not making a public donation adress for buying some hash power and for reaching those 75% on segwit vote?

It's damn hard to watch whats happening with #BTC, how those crooked chineese miners looking only to their own profits (they live in different world, they do not care about Bitcoin and the whole community, they care about profits. When #BTC will be done, they choose next coin and it might be #Litecoin this time, if it isnt already...). Moreover, they already felt the power of making a huge impact on #Litecoin prices (we saw it yesterday, and we all saw some twitter posts from Wang Chun) so if not now, in future it might be impossible to adopt segwit, like now its for #BTC.
So I urge you to consider creating a wallet for donations for buying some hash power and adopt #segwit as soon as possible. (Its possible to rent 200-300 GH/s on Nicehash to finish the job. It would cost 10-15 $BTC per day. When there are so many segwit supporters, this amount is just ridiculously low).
When #LTC will be trapped like #BTC now, there will be no way out from those greedy hands.
submitted by GeorgeOnee to litecoin [link] [comments]

Bitcoin Mining & The Beauty Of Capitalism

Authored by Valentin Schmid via The Epoch Times,
While the price of bitcoin drops, miners get more creative... and some flourish.
The bitcoin price is crashing; naysayers and doomsayers are having a field day. The demise of the dominant cryptocurrency is finally happening — or is it?
Bitcoin has been buried hundreds of times, most notably during the brutal 90 percent decline from 2013 to 2015. And yet it has always made a comeback.
Where the skeptics are correct: The second bitcoin bubble burst in December of last year and the price is down roughly 80 percent from its high of $20,000. Nobody knows whether and when it will see these lofty heights again.
As a result, millions of speculators have been burned, and big institutions haven’t showed up to bridge the gap.
This also happened on a smaller scale in 2013 after a similar 100x run-up, and it was necessary.

Time to Catch Up

What most speculators and even some serious proponents of the independent and decentralized monetary system don’t understand: Bitcoin needs these pauses to make improvements in its infrastructure.
Exchanges, which could not handle the trading volumes at the height of the frenzy and did not return customer service inquiries, can take a breather and upgrade their systems and hire capable people.
The technology itself needs to make progress and this needs time. Projects like the lightning network, a system which delivers instant bitcoin payments at very little cost and at virtually unlimited scale is now only available to expert programmers.
A higher valuation is only justified if these improvements reach the mass market.
And since we live in a world where everything financial is tightly regulated, for better or worse, this area also needs to catch up, since regulators are chronically behind the curve of technological progress.
And of course, there is bitcoin mining. The vital infrastructure behind securing the bitcoin network and processing its transactions has been concentrated in too few hands and in too few places, most notably China, which still hosts about 70 percent of the mining capacity.

The Case For Mining

Critics have always complained that bitcoin mining consumes “too much” electricity, right now about as much as the Czech Republic. In energy terms this is around 65 terawatt hours or 230,000,000 gigajoules, costing $3.3 billion dollars according to estimates by Digiconomist.
For the non-physicists among us, this is around as much as consumed by six million energy-guzzling U.S. households per year.
All those estimates are imprecise because the aggregate cannot know how much energy each of the different bitcoin miners consumes and how much that electricity costs. But they are a reasonable rough estimate.
So it’s worth exploring why mining is necessary to begin with and whether the electricity consumption is justified.
Anything and everything humans do consumes resources. The question then is always: Is it worth it? And: Who decides?
This question then leads to the next question: Is it worth having and using money? Most people would argue yes, because using money instead of barter in fact makes economic transactions faster and cheaper and thus saves resources, natural and human.

_Merchants exchange goods with the inhabitants of Tidore, Indonesia, circa 1550. Barter was supplanted by using money because it is more efficient. (Archive/Getty Images)_If we are generously inclined, we will grant bitcoin the status of a type of money or at least currency as it meets the general requirements of being recognizable, divisible, portable, durable, is accepted in exchange for other goods and services, and in this case it is even limited in supply.
So having any type of money has a price, whether it’s gold, dollar bills, or numbers on the screen of your online banking system. In the case of bitcoin, it’s the electricity and the capital for the computing equipment, as well as the human resources to run these operations.
If we think having money in general is a good idea and some people value the decentralized and independent nature of bitcoin then it would be worth paying for verifying transactions on the bitcoin network as well as keeping the network secure and sound: Up until the point where the resources consumed would outweigh the efficiency benefits. Just like most people don’t think it’s a bad idea to use credit cards and banks, which consume electricity too.
However, bitcoin is a newcomer and this is why it’s being scrutinized even more so than the old established players.

Different Money, Different Costs

How many people know how much electricity, human lives, and other resources gold mining consumes or has consumed in the course of history? What about the banking system? Branches, servers, air-conditioning, staff? What about printing dollar notes and driving them around in armored trucks?
What about the social effects of monetary mismanagement of bank and government money like inflation as well as credit deflations? Gold gets a pass here.
Most people haven’t asked that question, which is why it’s worth pointing out the only comprehensive study done on the topic in 2014. In “An Order of Magnitude” the engineer Hass McCook analyzes the different money systems and reaches mind-boggling conclusions.
The study is a bit dated and of course the aggregations are also very rough estimates, but the ball park numbers are reasonable and the methodology sound.
In fact, according to the study, bitcoin is the most economic of all the different forms of money.
Gold mining in 2014 used 475 million GJ, compared to bitcoin’s 230 million in 2018. The banking system in 2014 used 2.3 billion gigajoules.
Over 100 people per year die trying to mine gold. But mining costs more than electricity. It consumes around 300,000 liters of water per kilogram of gold mined as well as 150 kilogram (330 pounds) of cyanide and 1500 tons of waste and rubble.
The international banking system has been used in all kinds of fraudulent activity throughout history: terrorist financing, money laundering, and every other criminal activity under the sun at a cost of trillions of dollars and at an order of magnitude higher than the same transactions done with cryptocurrency and bitcoin.
And of course, while gold has a relatively stable value over time, our bank and government issued money lost about 90 percent of its purchasing power over the last century, because it can be created out of thin air. This leads to inflation and a waste of physical and human resources because it distorts the process of capital allocation.

_The dollar has lost more than 90 percent of its value since the creation of the Federal Reserve in 1913. (Source: St. Louis Fed)_This is on top of the hundreds of thousands of bank branches, millions of ATMs and employees which all consume electricity and other resources, 10 times as much electricity alone as the bitcoin network.
According to monetary philosopher Saifedean Ammous, author of “The Bitcoin Standard,” the social benefit of hard money, i.e. money that can’t be printed by government decree, cannot even be fathomed; conversely, the true costs of easy money—created by government fiat and bank credit—are difficult to calculate.
According to Ammous, bitcoin is the hardest money around, even harder than gold because its total supply is capped, whereas the gold supply keeps increasing at about 1-2 percent every year.
“Look at the era of the classical gold standard, from 1871, the end of the Franco–Prussian War, until the beginning of World War I. There’s a reason why this is known as the Golden Era, the Gilded Age, and La Belle Epoque. It was a time of unrivaled human flourishing all over the world. Economic growth was everywhere. Technology was being spread all over the world. Peace and prosperity were increasing everywhere around the world. Technological innovations were advancing.
“I think this is no coincidence. What the gold standard allowed people to do is to have a store of value that would maintain its value in the future. And that gave people a low time preference, that gave people the incentive to think of the long term, and that made people want to invest in things that would pay off over the long term … bitcoin is far closer to gold. It is a digital equivalent of gold,” he said in an interview with The Epoch Times.
Of course, contrary to the gold standard that Ammous talks about, bitcoin doesn’t have a track record of being sound money in practice. In theory it meets all the criteria, but in the real world it hasn’t been adopted widely and has been so volatile as to be unusable as a reliable store of value or as the underlying currency of a productive lending market.
The proponents argue that over time, these problems will be solved the same way gold spread itself throughout the monetary sphere replacing copper and seashells, but even Ammous concedes the process may take decades and the outcome is far from certain. Gold is the safe bet for sound money, bitcoin has potential.
There is another measure where bitcoin loses out, according to a recent study by researchers from the Oak Ridge Institute in Cincinnati, Ohio.
It is the amount of energy expended per dollar for different monetary instruments. One dollar worth of bitcoin costs 17 megajoules to mine versus five for gold and seven for platinum. But the study omits the use of cyanide, water, and other physical resources in mining physical metals.
In general, the comparisons in dollar terms go against bitcoin because it is worth relatively less, only $73 billion in total at the time of writing. An issue that could be easily fixed at a higher price, but a higher price is only justified if the infrastructure improves, adoption increases, volatility declines, and the network proves its resilience to attacks over time.
In the meantime, market participants still value the fact they can own a currency independent of the government, completely digital, easily fungible, and limited in supply, and relatively decentralized. And the market as a whole is willing to pay a premium for these factors reflected in the higher per dollar prices for mining bitcoin.

The Creativity of Bitcoin Mining

But where bitcoin mining lacks in scale, it makes up for it in creativity.
In theory—and in practice—bitcoin mining can be done anywhere where there is cheap electricity. So bitcoin mining operations can be conducted not where people are (banking) or where government is (fiat cash) or where gold is (gold mining)—it can be done everywhere where there is cheap electricity
Some miners are flocking to the heat of the Texan desert where gas is virtually available for free, thanks to another oil revolution.
Other miners go to places where there is cheap wind, water, or other renewable energy.
This is because they don’t have to build bank branches, printing presses, and government buildings, or need to put up excavators and conveyor belts to dig gold out of the ground.
All they need is internet access and a home for the computers that look like a shipping container, each one of which has around 200 specialized bitcoin mining computers in them.
“The good thing about bitcoin mining is that it doesn’t matter where on earth a transaction happens, we can verify it in our data center here. The miners are part of the decentralized philosophy of bitcoin, it’s completely independent of your location as well,” said Moritz Jäger, chief technology officer at bitcoin Mining company Northern Bitcoin AG.

Centralized Mining

But so far, this decentralization hasn’t worked out as well as it sounds in theory.
Because Chinese local governments had access to subsidized electricity, it was profitable for officials to cut deals with bitcoin mining companies and supply them with cheap electricity in exchange for jobs and cutbacks. Sometimes the prices were as low as 2 dollar cents to 4 dollar cents per kilowatt hour.
This is why the majority of bitcoin mining is still concentrated in China (around 70 percent) where it was the most profitable, but only because the Chinese central planners subsidized the price of electricity.
This set up led to the by and large unwanted result that the biggest miner of bitcoin, a company called Bitmain, is also the biggest manufacturer of specialized computing equipment for bitcoin mining. The company reported revenues of $2.8 billion for the first half of 2018.

Tourists walk on the dunes near a power plant in Xiangshawan Desert in Ordos of Inner Mongolia, in this file photo. bitcoin miners have enjoyed favorable electricity rates in places like Ordos for a long time. (Feng Li/Getty Images)Centralized mining is a problem because whenever there is one player or a conglomerate of players who control more than 50 percent of the network computing power, they could theoretically crash the network by spending the same bitcoin twice, the so called “double spending problem.“
They don’t have an incentive to do so because it would probably ruin the bitcoin price and their business, but it’s better not to have to rely on one group of people controlling an entire money system. After all, we have that exact same system with central banking and bitcoin was set up as a decentralized alternative.
So far, no player or conglomerate ever reached that 51 percent threshold, at least not since bitcoin’s very early days, but many market participants always thought Bitmain’s corner of the market is a bit too close for comfort.
This favorable environment for Chinese bitcoin mining has been changing with a crack down on local government electricity largess as well as a crackdown on cryptocurrency.
Bitcoin itself and mining bitcoin remain legal in China but cryptocurrency exchanges have been banned since late 2017.
But more needs to be done for bitcoin to become independent of the caprice of a centralized oppressive regime and local government bureaucrats.

Northern Bitcoin Case Study

Enter Northern Bitcoin AG. The company isn’t the only one which is exploring mining opportunities with renewable energies in locations other than China.
But it is special because of the extraordinary set up it has for its operations, the fact that it is listed on the stock exchange in Germany, and the opportunities for scaling it discovered.
The operations of Northern Bitcoin combine the beauties of bitcoin and capitalism in one.
Like Texas has a lot of oil and free gas and it makes sense to use the gas rather than burn it, Norway has a lot of water, especially water moving down the mountains due to rainfall and melting snow.
And it makes sense to use the power of the movement of the water, channel it through pipes into generators to create very cheap and almost unlimited electricity. Norway generates north of 95 percent of its total electricity from hydropower.

A waterfall next to a hydropowerplant near Sandane, Norway, Oct. 25, 2018. (Valentin Schmid/The Epoch Times)Capitalism does not distinguish between renewable and fossil. It uses what is the most expedient. In this case, it is clearly water in Norway, and gas in Texas.
As a side note on the beauties of real capital and the fact that capital and the environment need not be enemies, the water in one of the hydropowerplants close to the Northern Bitcoin facility is piped through a generator made in 1920 by J.M. Voith AG, a company from Heidenheim Germany.
The company was established in 1867 and is still around today. The generator was produced in 1920 and is still producing electricity today.

Excess Power

In the remote regions of Northern Norway, there aren’t that many people or industry who would use the electricity. And rather than transport it over hundreds of miles to the industrial centers of Europe, the industries of the future are moving to Norway to the source of the cheap electricity.
Of course, it is not just bitcoin mining, but other data and computing heavy operations like server farms for cloud computing that can be neatly packaged into one of those containers and shipped up north.
“The containers are beautiful. They are produced in the middle of Germany where the hardware is enabled and tested. Then we put it on a truck and send it up here. When the truck arrives on the outside we lift it on the container vehicle. Two hours after the container arrives, it’s in the container rack. And 40 hours later we enable the cooling, network, power, other systems, and it’s online,” said Mats Andersson, a spokesman for the Lefdal Mine data center in Måløy, Norway, where Northern Bitcoin has its operations. Plug and play.

A Northern Bitcoin data container inside the Lefdal Mine data center, in Måløy, Norway. (Northern Bitcoin)If the cheap electricity wasn’t enough—around 5 cents per kilowatt hour compared to 17 cents in Germany—Norway also provides the perfect storage for these data containers, which are normally racked up in open air parks above the ground.
Also here, the resource allocation is beautiful. Instead of occupying otherwise useful and beautiful parcels of land and nature, the Northern Bitcoin containers and others are stored in the old Lefdal olivine mine.
Olivine is a mineral used for steel production and looks green. Very fitting. Hence also the name of the data center: Lefdal Mine.
“We take the green mineral out and we take the green IT in,” said Andersson.

Efficiency, Efficiency

Using the old mine as storage for the data center makes the whole process even more resource efficient.
Why? So far, we’ve only been talking about bitcoin mining using a lot of energy. But what for? Before you have actually seen the process in action—and it is similar for other computing operations—you cannot imagine how bizarre it is.
Most of the electricity is used to prevent the computers from overheating. So it’s not even the processors themselves; it’s the fans which cool the computer that use the most juice.
This is where the mine helps, because it’s rather cool 160 meters (525 feet) below sea level; certainly cooler than in the Texas desert.
But it gets even better. On top of the air blow-cooling the computer, the Lefdal data center uses a fresh water system to pump through the containers in pipes.
The fans can then circulate air over the cool pipes which transfer the heat to the water. One can feel the difference when touching the different pipes.
The fresh water closed circle loop then completes the “green” or resource efficiency cycle by transferring its heat to ice cold water from the nearby Fjord.
The water is sucked in through a pipe from the Fjord, the heat gets transferred without the water being mixed, and the water flows back to the Fjord, without any impact on the environment.
To top it all off, the mine has natural physical security far better than open air data centers and is even protected from an electromagnetic pulse blast because it’s underground.

_The Nordfjord near Måløy, Norway. The Lefdal data center takes the cold water from the fjord and uses it to cool the computer inside the mine. (Valentin Schmid/The Epoch Times)_Company Dynamics

Given this superlative set up, Northern Bitcoin wants to ramp up production as fast as possible at the Lefdal mine and other similar places in Norway, which have more mountains where data centers can be housed.
At the moment, Northern Bitcoin has 15 containers with 210 mining machines each. The 15 containers produce around 5 bitcoin per day at a total cost of around $2,500 dollars at the end of November 2018 and after the difficulty of solving the math problems went down by ~17 percent.
Most of it is for electricity; the rest is for leasing the containers, renting the mine space, buying and writing off the mining computers, personnel, overhead, etc.
Even at the current relatively depressed prices of around $4000, that’s a profit of $1500 per bitcoin or $7,500 per day.
But the goal is to ramp it up to 280 containers until 2019, producing 100 bitcoin per day. Again, the company is in the sweet spot to do this.
As opposed to the beginning of the year when one could not procure a mining computer from Bitmain even if one’s life depended on it, the current bear market has made them cheap and relatively available both new and second had from miners who had to cease operations because they can’t produce at low bitcoin prices.

Northern Bitcoin containers inside the Lefdal Mine data center in Måløy, Norway. (Northern Bitcoin)What about the data shipping containers? They are manufactured by a company called Rittal who is the world market leader. So it helps that the owner of Rittal also owns 30 percent of the Lefdal mine, providing preferential access to the containers.
Northern Bitcoin said it has enough capital available for the intermediate goal of ramping up to 50 containers until the end of year but may tap the capital markets again for the next step.
The company can also take advantage of the lower German corporate tax rate because revenue is only recorded when the bitcoin are sold in Germany, not when they are mined in Norway.
Of course, every small-cap stock—especially bitcoin companies—have their peculiarities and very high risks. As an example, Northern Bitcoin’s financial statements, although public, aren’t audited.
The equipment in the Lefdal mine in Norway is real and the operations are controlled by the Lefdal personnel, but one has to rely on exclusive information from the company for financials and cost figures, so buyer beware.

Norway Powerhouse?

Northern Bitcoin wants to have 280 containers, representing around 5 percent of the network’s computing power.
But the Lefdal mine alone has a capacity to power and cool 1,500 containers in a 200 megawatt facility, once it is fully built out.
“Here you have all the space, power, and cooling that you need. … Here you can grow,” said Lefdal’s Andersson.

A mine shaft in the Lefdal Mine data center in Måløy, Norway. The whole mine will have a capacity for 1500 containers once fully built out. (Valentin Schmid/The Epoch Times)The Norwegian government was behind an initiative to bring computing power to Norway and make it one of the prime destinations for data centers at the beginning of this decade.
To that effect, the local governments own part of the utility companies which operate the power plants and own part of the Lefdal Mine and other locations. But even without notable subsidies (i.e. cash payments to companies), market players were able to figure it out, for everybody’s benefit.
The utilities win because they can sell their cheap electricity close to home. The computing companies like IBM and Northern Bitcoin win because they can get cheap electricity, storage, and security. Data center operators like Lefdal win because they can charge rent for otherwise unused and unneeded space.
However, in a recent about face, the central government in Oslo has decided to remove cryptocurrency miners from the list of companies which pay a preferential tax rate on electricity consumption.
Normally, energy intensive companies, including data centers, pay a preferential tax on electricity consumed of 0.48 øre ($0.00056 ). According to a report by Norwegian media Aftenposten, this tax will rise to 16.58 øre ($0.019) in 2019 for cryptocurrency miners exclusively.
The argument by left wing politician Lars Haltbrekken who sponsored the initiative: “Norway cannot continue to provide huge tax incentives for the most dirty form of cryptocurrency output […] [bitcoin] requires a lot of energy and generates large greenhouse gas emissions globally.”
Since Norway generates its electricity using hydro, precisely the opposite is true: No greenhouse gas emissions, or any emissions for that matter would be produced, if all cryptomining was done in Norway. As opposed to China, where mining is done with coal and with emissions.
But not only in Norway is the share of renewable and emission free energy high. According to research by Coinshares, Bitcoin’s consumes about 77.6 percent of its energy in the form of renewables globally.
However self-defeating the arguments against bitcoin mining in Norway, the political initiative is moving forward. What it means for Northern Bitcoin is not clear, as they house their containers in Lefdal’s mixed data center, which also has other clients, like IBM.
“It’s not really decided yet; there are still big efforts from IT sectors and parties who are trying to change it. If the decision is taken it might apply for pure crypto sites rather than mixed data centers, like ours,” said Lefdal’s Andersson.
Even in the worst-case scenario, it would mean an increase from ~5 cents to ~6.9 cents per kilowatt hour, or 30 percent more paid on the electricity by Northern Bitcoin, which at ~$3250 would still rank it among the most competitive producers in the world.
Coinshares estimates the average production price at $6,800 per Bitcoin at $0,05 per kilowatt hour of electricity and an 18-months depreciation schedule, but concedes that a profitable miner could “[depreciate] mining gear over 24-30 months, or [pay] less for mining gear than our estimates.”
Jäger says Northern Bitcoin depreciates the equipment over three years and has obtained very favorable prices from Bitmain, making its production much more competitive than the average despite the same cost of electricity. In addition, the natural cooling in the mine also reduces electricity costs overall.

Cheap Producer Advantage

At the moment, however, the tax could be the least of any miners worry, as the bitcoin price is in free-fall.
But what happens when the price crashes further? Suffice it to say that there was bitcoin mining when the dollar price was less than 1 cent and there will be bitcoin mining at lower prices thanks to the design of the network.
Mao Shixing, the founder of mining pool F2pool estimated 600,000 miners have shut down since the November crash in price, according to a report by Coindesk.
As it should be in a competitive system, the most energy intensive and obsolete machines are shut down first.
As with every other commodity, when the price drops, some miners will leave the market, leaving space for cheaper competitors to capture a bigger share. But with bitcoin this is a bit simpler than with copper or gold for example.
When a big copper player goes bankrupt, its competitors have to ramp up production and increase cost to increase their market share. With bitcoin, if 3,000 computers get taken off the total mining pool, they won’t be able to mine the approximately 5 bitcoin any longer.
However, because the difficulty of solving the computationally intensive cryptographic tasks of bitcoin decreases automatically when there are fewer computers engaged in the task, the other players just have to leave their machines running at the same rate for the same cost and they will split the 5 bitcoin among them.
“The moment the price goes down, our production price will go down as well,” said Jäger, a process that already happened from November to December when the difficulty decreased twice in November and the beginning of December.
This naturally favors players like Northern Bitcoin, which are producing at the lower end of the cost spectrum. They will be the ones who shut down last.
And this is a good thing. The more companies like Northern Bitcoin, and countries like Norway—even with the extra tax—the more decentralized the bitcoin system.
The more computers there are in different hands mining bitcoin, the more secure the system becomes, because it will be ever more difficult for one player to reach the 50 percent threshold to crash the system. It is this decentralized philosophy which has kept the bitcoin system running for 10 years. Whether at $1 or $20,000.
submitted by rotoreuters to zerohedge [link] [comments]

Part 40: Transcription, "Awan Brotherhood / Hillary's Hackers"

George Webb
The following are best-effort transcriptions of the George Webb Video Series. The series is a daily, ongoing open source investigation of HRC with researchers in #HRCRatline on twitter and facebook and trello.
Previous Notes
Part 1 Part 2 Part 3 Part 4 Part 5 Part 6 Part 7 Part 8 Part 9 Part 10
Part 11 Part 12 Part 13 Part 14 Part 15 Part 16 Part 17 Part 18 Part 19 Part 20
Part 21 Part 22 Part 23 Part 24 Part 25 Part 26 Part 27 Part 28 Part 29 Part 30
Part 31 Part 32 Part 33 Part 34 Part 35 Part 36 Part 37 Part 38 Part 39  
  • CONTINUED... [Day 195.2. Hillary'Hillarys, Awan Brothers Saga Deepens, Part 2 - YouTube]
    • If you look at previous drug operations, for instance, that we ran in Iraq with David Petraeus--if you read his book again, not my book all in, he talks about half of the people that were taken in kidnappings, or or what they call "extractions" in Special Forces were done without firing a shot.
    • Now how do you go into a hostile village with all these automatic weapons and all these guards and all this Isis and so forth, and not fire a shot?
    • And the way it's done is you fly over the village with--and you spray it with a sarin like substance--this is the same testing that they did in Porton Down important down in England in the 50s, with over Norwich and other towns along the coast and seacoast they had done it under over inland towns as well but then they wanted to see how the sea mist and the sea winds and
    • So forth affected it that's why they chose some of those coastal England towns, and everybody just goes to sleep.
    • You don't go to sleep right away but it operates in your parasympathetic nervous system--you kind of nod off kind of thing now they they do it at 2:00 a.m. to 4:00 a.m. so that people are driving and so forth aren't affected, but every once a while you'll see a train driver fall asleep and stuff where they've done spraying US.
    • But when everybody's asleep you don't need to go in with a big team.
    • So if you have eight pot growers--let's say in Peebles Ohio--and this is Pike County, and their name is Rhoden.
    • There's six boys and there's two two wives, but they're all have guns they have 20 dogs and you would have to go in there with gosh 20 or 30 automatic weapons and and bulletproof vests, and if you're going to take those guys out.
    • Or you can spray em. Once you spray em, everybody goes asleep.
    • All you need is two Somali kids from a war-torn nation that have already shot seven or eight people in the head--by the time they're 13--
    • When they go in there everybody's asleep, they just they just shoot everybody in the head.
    • And that's exactly what happened in the Rhoden killings.
    • And all you need is a handler like Stevie Stevens, come down pick them up in Columbus, and then go to Pike County, and do that shooting, and that's exactly what happened in that shooting.
    • If you release the DNA evidence, Sheriff Reader, or release the tips, then we can follow up on that.
    • If in the other case, if in the Cleveland car dealer shooting, the Kuznik shooting, if they release the DNA for Stevie Stevens, and his phone records, we can see where he went a year before.
    • But if you just follow these handlers around, it'll kind of follow the kill ratlines.
    • So. We will be going to Ohio and I hope to interview Sheriff Pfizer.
    • And I would like to go to Peebles, Ohio and interview the mother, and the widow as well.
    • These are the kids were not you know Rhodes Scholars.
    • I'm not saying that, but they were growing pot. I mean it wasn't like they were running child sex rings, or any of the other stuff that's going on you know with the political class.
    • And they did not deserve to be murdered--I mean that's just ridiculous
    • So that's round two and we'll keep recording hopefully I get my PC issues challenged
    • So you won't have to look at my mug and we'll move on from there
  • [Day 195.3. Hillary's Hackers, Awan Brothers Saga Deepens, Part 3 - YouTube]
    • Okay day 9 195 part three
    • One of the things I also wanted to talk about was off, offing the expenses of ratlines on to the Government.
    • In foreign countries, what DynCorp was allowed to do is: basically use the police forces that they were training to exact taxes on the country. And so the country was actually paying for the enforcement network.
    • But then someone had the bright idea: "well why don't we make all the people involved in our ratline confidential informants? If we make them confidential informants, then we can say that it's part of national security, and then have that part of the ratline"
    • So nine-tenths of the ratline is is informants and operatives
    • So we'll just off--we'll just put those off-book as well... we'll co-op the government expenses for those as well.
    • Well if you're running a ratline in the United States, you go, "well we got the sheriff okay the government's paying for that part of the red line, couldn't we do the same thing? Couldn't we have confidential informants working anti-terrorism, and teach these folks doing some you know light surveillance just you waiting at a location till somebody shows up, and sending a text saying they're there that kind of thing low-level low-level, relay work--what they used to call relay work.
    • Well guess what? That's exactly what happened.
    • Danna Priest a great journalist from the Washington Post, did a expose called Top Secret America in 2017.
    • So we really haven't had any work on this since 2017. But what she outlined was these 2,000 private companies.
    • It's basically a retirement plan for people in the intelligence community.
    • Basically they go start a security company, and there's these massive security companies you know like the one that Snowden worked for.
    • And G4S and and these mega companies. But then they hire a whole Christmas tree of security companies below them.
    • And at the street level it could be you know you can hire a landscaper with eight lawn cutters as your security company as your ratline.
    • And again if I'm sitting at a 7-eleven, waiting for a car to show up, with a certain license plate, and then it shows up, and then I text that back to whoever, it owns my quote/unquote security company I just made you know 15 bucks an hour for two hours, it's it's 30 bucks.
    • That allows me to buy supply when it comes in
    • So it's it's also kind of a jobs program. And it's kind of an ingenious jobs program of kind of putting the cost of running the ratline on to the people of the United States, rather than paying that in reducing profit......
    • So I just thought I would throw that in, oh by the way, those number of private security companies in America through DHS Department of Homeland Security has gone from 2200, when she wrote the article up to around I think the company that was tracking it in Ohio--it was around 7,000 in 2016, or 15 maybe. I'm guessing that is the numbers around 10,000
    • Now that's 10,000 organizations not employees the number of employees I would guess is about a hundred per.
    • But no accounting black-budget DynCorp we have no idea how much money is actually being spent but why not employ your ratline? That way they have money to buy the stuff that you're bringing in.
    • Also by the way the contacts with the ax wants Awans with their ability to reach into the DHS system, would be a fantastic way of managing your ratlines.
    • You could see all your people, all your payments, where your people are, what they've earned to date, all those kind of important things.
    • And again it's it's just taking what's been done overseas with DynCorp and bringing it to the United States
  • [Day 195.4. Hillary's Hackers, Awan Brothers Saga Deepens, Part 4 - YouTube]
    • Payday 195 part 4
    • This is where I get to do corrections
    • No I was wrong: Dana Priest did Top-Secret America, one of the best series in Washington Post history.
    • The best reporting on the Intelligence Community, since the beginning of the CIA.
    • Was in 2010--Top Secret America--it was so good that Washington Post came back, and made it a--what I consider the best kind of journalism possible, where you can go on the site, with Washington Post, and interact with all the data she pulled together, and she had a couple of folks that she worked with, but Dana Priest was really the one who led the charge, and deserve that Pulitzer Prize.
    • And 2010 I think the Washington Post still has that site at because it was so good, and other research institutions continue to add to the research base that she created.
    • And as I have said in the past, I think the future of journalism is data-driven journalism, where the actual citizen journalists can interact with the data, and I'm try to do the same thing with the stuff that's created.
    • That metadata that's created from this series, with all the great research that's been done out there, I think we're up to three million words now, and all the metadata from the scraping.
    • Five Bibles plate King James Version 750 thousand words.
    • So yeah, about six Bibles, but it'll continue to grow more and more, and that's not counting the links the articles were the links point to which also have entities
    • So sometimes I don't make mistakes, sometimes I deliberately make mistakes...is what I should have said.
    • Yeah I knew Aristophanes calculated the circumference of the earth.
    • I just wanted to say Archimedes so badly, and it's a good story actually, because Archimedes was from Syracuse, Sicily, and you've got Aristophanes from where Libya is, not too far from Benghazi, in a place near modern-day Shiraz.
    • They both meet in Alexandria in Egypt, on the on the Nile, on the Mediterranean Sea.
    • So it's kind of an east-meets-west story.
    • They were contemporaries of each other.
    • So you know they're Stephanie's story now and modeling: it just shows you the power of modeling.
    • If you see the model enough, if you see enough parts of the earth, and you come up with the principle in simple terms, so that anyone in you know ninth grade math class, can recreate what you did, on any given summer solstice, or winter solstice, then you you hit on something--you've got a good principle.
    • And that's what I try to do in this series. I try to do that with, you know, showing the three-man-kill-teams.
    • I try to show that without DynCorp does with operates with sheriffs here in the US, and overseas I try to keep establishing those patterns as a matter-of-fact if you go to the home right now of Aristophanes which was in Cyrene, near Shirat, there's a modern-day slave market
    • So. In 2600 years, 2700 years I don't think we progressed that much, by having DynCorp run things.
    • On the flip side, Archimedes is known for the displacement of water--the Archimedean screw, the parabolic reflector, all these things I have to tell the story though--because it's my series, I can do what I want--of displacement, because you have the problem of a king with a crown. And a goldsmith made it for him. And they suspected the Goldsmith was mixing in silver to try to, you know up the profit a little bit.
    • It's kind of like a DynCorp contract you know, working in operatives, and calling them agents, and trying to get full pay...
    • So what they said is, "hey can you calculate how much gold should actually be in this?"
    • Well, everyone that they took it to, said, " well, you have to melt the crown down."
    • Archimedes said, "wait a minute now: if we put it in water what will happen is it'll displace the amount of water, that it's equal to the volume of the crown {{ marking the displacement line and removing the crown }}, then we'll take the water--we'll make equal volume in gold, we'll melt the gold, and we'll see if we'll put another equal amount of gold {{ to bring water up to the line...achieve the displacement }}, and we'll weigh [the crown and the 'amount of gold', displacing the same amount of water, next to] each other, that's how we'll know if it's all gold or not--very simple solution
    • I love the models, because the models then can be held up against reality and we can see what the truth really is.
    • And you're going to find this over and over again--these anomalies:
    • The Awans making $160,000 a year
    • The Awans with the passwords to Debbie Wasserman Schultz's laptop
    • The Awans getting the vault 7 hacking tools from the CIA,
    • The FBI director saying we can't release the metadata of the emails that the people of the United States owned through the Federal Records Act
    • We can't even release the metadata of your emails people of the United States of America, because it's not proof.
    • Well it doesn't matter if it's not proof, we own those emails you need to release the metadata at least of those emails doesn't matter of national security is involved or not because it was a violation of the law to plan and scheme with those emails to begin with
    • Same thing is true with all along the way here, in the investigation.
    • And these things, these models are like a litmus test, that you can apply in all situations.
    • The Kallstrom model of investigation, I call it: just "what would a common-sense investigator do?" and then compare that to the reality of what's actually happening
    • So there's a little bit of philosophy here, a little bit of history, a little bit of east-meets-west, a little bit of DynCorp motivation.
    • I think the DynCorp--if they were doing the crown...it would probably be all silver but a little bit of gold of gold plate on it
    • {{ 911:word}}
    • And that's it for round 4
  • [Day 195.5 Hillary's Hackers, Awan Brothers Saga Deepens, Part 5 - YouTube]
    • Okay day 195 part 5.
    • I'm in Plymouth Indiana on the way to Pittsburgh.
    • I won't exactly say why right now, but maybe stop in Ohio, but I don't want to be--I want to get a little element of surprise.
    • Anyway I just published to here Javed's social security number
    • Now I know what everybody's saying is, "oh my god he's a billionaire--if that's the same Tahir Javed, and he runs a ratline, and George, your dead, Pakistani ISI... okay, yeah maybe.
    • But what it's called Misprision.
    • Misprision of treason.
    • It's not "prison" I'm not mis-saying the word missed "prison".
    • It's Misprision of treason: it's against the law to not turn in or provide information to the FBI if you believe someone's committing treason or spying on the United States of America.
    • So I really don't have a choice here.
    • I'd do it anyway, but I don't really have a choice.
    • The reasons why I publish his social security number is just like the ax wands Awans: multiple Social Security numbers, multiple aliases, more than five or six houses in different states, Maryland again, Virginia again, Florida again, Pennsylvania again, it lots of overlap.
    • The two cities where we had houses before. And again, with multiple dates of issuance for the Social Security number 89 in 2002. And then they shut off the sixth social security information 2014.
    • I just don't, like you know, I can't take any chances. I'm really not taking chances for the American people--I'm taking a chance here personally probably with the billionaire's social security number.
    • But I'm not going to take chances with the American people.
    • {{ 911: translation: I'm putting my own life on the line for you. Thanks for that George. You're a hero }}
  • [Day 196.1. Hillary's Hackers, Awan Brothers Saga Deepens, Part 1 - YouTube]
    • Okay day 196 I'm going to be traveling today to Pittsburgh
    • So I'm going to not be able to get to my slides.
    • If you watch the series, you'll notice I do a lot on modus operandi basically it's saying if there's a bank robbery in town, you look at all the people who've robbed banks before, and the people who are closest are most likely to have committed that crime versus somebody lives in India--let's say if you have a robber here in Indiana.
    • I don't know why that logic can't be applied across the board. motor swap around I modus operandi--I'm pretty sure it's Latin term that's been around for over 2,000 years.
    • You've got Feta Gulen--for people who don't know him Gulen--you can google it B being involved in a terrorist organization called FETO our key NATO partner in the Middle East--our only NATO partner in the Middle East, Turkey.
    • A person who he's known in for thirty years says he is a terrorist. And his organization FETO is a terrorist organization. Where does this person live? Somewhere close to the United States? NO! In Pittsburgh near not Pittsburgh near Philadelphia... near New York near Washington DC
    • So I look at those things. Well what was the modus operandi of Feta Gulen?
    • Well he helped infiltrate governments by taking them down with the needle--meaning opioids, rather than the gun.
    • He did it in 1979--operations like Cyclone working with Pakistani intelligence.
    • He did it with in Gladio B--if you want to google that Gladio B in Central Asia again Pakistani intelligence.
    • He did it in Turkey with politicians, lawyers, key police officials, military police officials, and doctors that was the most recent attempt for a coup
    • Nowhe's doing again in the United States
    • So what I do is I just present evidence and then let people make their own decisions
  • [Day 195.2. 196.2 Hillary's Hackers, Awan Brothers Saga Deepens, Part 2 - YouTube]
    • Okay day 196
    • This is part 2.
    • Just on the subject of modus operandi and Gulen, I found a really good article.
    • So they sent me a good series by a guy named Tariq Saeeid (Saeedi), basically I didn't I've never read him before, but basically just agreed, and supported everything I said about Gulen this morning.
    • And the other thing about the CIA running these operations is--it's the same thing over and over.
    • They just change the names
    • So the next operation I'd like everybody to Google just so there's a fact base here, it's [Operation Duck Soup]()
    • So it was taking those Chinese villagers--those Hmong's to grow opium--they're the ones who basically left China, when China went communist, and Chiang kai-shek-- was Formosa now Taiwan--and they grew opium, and the opium was flown--the heroin was flown into the Demilitarized Zone during the Vietnam War.
    • And that's how the opium, or the heroin crisis started in the United States.
    • The idea was will infect the soldiers first, get them introduced to heroin, and then they'll bring it back to all the cities in the United States, and that started in 1963 with Henry Kissinger.
    • But I'm not trying to pin this on Kissinger, but and Richard Holbrooke fought it, and all that.
    • So if you want to look at operation Duck Soup. It was basically using the needle again, against the American soldier.
    • Soldiers are a great target, because they're all together in one--they're clustered at ports, you can get at them with your own doctors, and it's a captive audience.
    • And again here we are 40 years later, we're targeting soldiers again.
    • The incidence of opioids--I think coming back from the Vietnam War was about 25 percent of the folks had some form of addiction problem.
    • I think now, coming back the soldiers are--I think I saw Brian Williams with MSNBC talking about 50%. 50% of the soldiers. * How is that not duck soup? That's duck soup!
    • So that's I'm here in Toledo making my way across Ohio going to Cleveland
  • [Day 195.3 196.3. Hillary's Hackers, Awan Brothers Saga Deepens, Part 3 - YouTube]
    • Okay day 196 here near Strongsville Ohio
    • I just wanted to do an update on Gulen, and why I talked about Gulen this morning, and it's the linkage to Osama bin Laden.
    • I couldn't really do the linkage to Osama bin Laden, until I talked about Gulen, and his work in 1979, with the Mujahideen.
    • In all these revolutions, and all these coups, you need what? Infrastructure: you need an infrastructure guy, you got to make sure that you control the electrical grid, that you control the phone grid, the cell phones if the country has cell phones; the water supply, all the train routes; all the roads, and you need to put people in positions before the coup that you know control those things, the airports etc
    • So that's what I'm talking about is Gulen has done this for about 35 years now
    • And he's doing it in the United States.
    • He just tried it in Turkey
    • So, the reason why I'm going to Scranton, the reason why I'm going to Saylorsburg again, is to show this relationship
    • Now, all along the way, that's been tied to the Mujahideen.
    • The Mujahideen is the Pakistani ISI overt operations
    • So Gulen is the covert operations, and Osama bin Laden, Mujahideen, Pakistani ISI, all the same thing--is the over operations
    • So, that whole ratline I'm talking about: Pakistan to Turkey--that's that ratline I'm talking about then, in effect at least since 1979, but really the Mujahideen, really start that in Afghanistan, and then move it to Kosovo, through Albania in 1993 with Hillary.
    • So that's the connection to Hillary {{ 911:Iran-Contra / Mena AK. via "Amjad Awan" AND Huma/WeineAwans }}
    • Now the connections of the yuan brothers Awan brothers is they're Pakistani ISI, and they're being funded with the drug money from Turkey from Gulen about 90 miles away in Saylorsburg, and I'm drawing in that connection, and thickening that connection, because that's who's paying for it.
    • I did the 12 houses, I show the serial numbers tied to those 12 houses, with your Awan brothers
    • I just did Javed's 12 houses--also Pakistani ISI that's where the money is coming from
  • [Day 195.4 196.4 Hillary's Hackers, Awan Brothers Saga Deepens, Part 4 - YouTube]
    • Okay this is day 195196 part four.
    • The reason I'm here in Pittsburgh now filming this Salvation Army, was this used to be the front organizations where you could crash, if you were a CIA operative, or whatever.
    • The original Gladio program was through the Salvation Army in Eastern Europe.
    • As a matter-of-fact, Madeleine Albright's dad was a in the Salvation Army in Czechoslovakia, and that was the key resistance Gladio resistance by the CIA.
    • So much more so in the United Europe in the United States
    • So, I thought I would show that picture there.
    • And then just say that things have moved on. Now the Awan brothers, you know the Awan brothers and nicer places like this.
    • But they're safe houses all the same.
    • Barry Seal--just a little trivia--Barry Seal was shot in front of one of these in New Orleans, because he was trying to get to the safe house.
    • Barry Seal's the famous pilot who went from Mena Airport, and took weapons to Nicaragua, and then brought back cocaine.
    • And just across the street there's a City of Asylum--and it's this new form of restaurant slash bookstore, that is sort of a, oh, it would be a social justice type of restaurant book store.
    • And you can see there's a currently a nice quartet performing, and they have a little vignette that plays on video, about someone in a country where they want to harvest the oil.
    • (And you can see it's a Masonic Lodge.)
    • Instead of saying, Joe Biden and Valerie Nuland want, you know, gas and oil rights, they talk about somebody who wants to be able to talk on Facebook without restrictions and make jokes. {{ "spreading freedom"...because you know, Facebook and Twitter, Youtube, et al are so free, they are demonetizing, shadowbanning or outright deleting users like myself from their sites for their 'conservative' views that aren't. }}
    • I also thought it was interesting that the University of Denver University of Colorado Medical Center, more specifically in Denver, really pioneered organ transplantation.
    • And CIA doctors were funded through the University of Colorado in Denver.
    • And when they learn their craft, and they came here just over that hill, I don't know if you can see UPMC--the University of Pittsburgh Medical Center, but there's a famous doctor--he's a great doctor named Starzl--who did the first liver transplant at the University of Colorado Denver, and then came here.
    • And the woman I interviewed--who was a 40-year operating room nurse for the transplantation team here, at the University of Pittsburgh--told me a week ago that oil sheiks would rent out a whole floor at the University of Pittsburgh Medical Center, and get to the front of the line.
    • So that's where it's really all started. The CIA's history in organ transplantation, from an oil town. Denver, started really here in mid-80s.
  • [Day 197.1 Hillary's Hackers, Awan Brothers Saga Deepens, Part 1 - YouTube]
    • Okay day 198-- a little bit early here, in the morning so I'm a little scruffy.
    • But you see here Sally Yates is going to testify in front of Congress.
    • And all these are great opportunities, just for like a Senator Grassley to say, you know, did this Michael Flynn have any relationship with these Awan brothers.
    • We've heard a lot about these Awan brothers and these burglaries, and these threats of kidnapping, and these threats of House Intelligence or House IT staff.
    • Did the in your time as Deputy Attorney General, did anybody bring you the Awan Brothers case?
    • Did the FBI mention it? Or did any other law enforcement officials bring this to you as a concern for national security?
    • Now that there seems to be this journalist that keeps publishing these Social Security numbers, that are being used by more than one person....and these people are still employed with the House of Representatives does that bother you?
    • Or is that a subject that you believe should be investigated?
    • It seems like they own 12 houses,
    • They owned lots of car dealerships
    • Lots of home mortgage companies
    • They seem to have lots of ties to Pakistan, with businesses in Pakistan,
    • And transportation rice importation export lots of trucking,
    • And transportation refrigerated transportation
    • Are any of those telltale signs to you? With your deep expertise in law enforcement? What do you think about that Sally Yates?
    • All that they have to do is have one person mention the Awan Brothers on the congressional record, and the story breaks wide open
  • [Day 197.2. Hillary's Hackers, Awan Brothers Saga Deepens, Part 2 - YouTube]
    • Seven I think.
    • Sorry about the mistaken date earlier.
    • There's a BP across the street. Closed.
    • I'm in 1927 Railroad Avenue, so I don't know if this is 1927 or not...[knock knock knock knock knock] 1927? {{ C&DTV on mailbox }}.
    • Supposed to be a rapidly growing business. Well-financed, helping this place Pakistani folks in America.
    • Well-financed, growing rapidly. Well, Awan Brothers United.
    • It looks like it's answering the door.
    • Going to knock one more time [knocks]. Awan Brothers United. 2017 Railroad Street Wilford Lane near Carnegie no answer
  • [Day 197.3 Hillary's Hackers, Awan Brothers Saga Deepens, Part 3 - YouTube]
    • Okay day 197 part 3 stuck in traffic in Pittsburgh --So no risk here
    • A lot of people want me to comment about the doctors the doctors that had their throats cut in Boston--if I know anything about that
    • I won't say anything, because I don't know anything about the case.
    • I know about Bill Weld, and the, you know, the FBI connection to organized crime, along with the CIA.
    • Boston was kind of their Ground Zero, with the Tsarnaev brothers, and before that.
    • There's been kill teams going back all the way to that can't think of his name Bulger slimy Bulger--whatever his name was--it's a long history with FBI corruption in in Boston. Whitey. Whitey bulger. And you can just google that.
    • A lot of the scams near cash, near money have been in in the Boston area, with the various forms of Bitcoin and these Pirate Bay kind of online drug schemes.
    • It all just seems to be in Boston.
    • But I'll comment on the Dr. killings.
    • If you have a legit pain clinic and the doctor field you know was definitely a legit guy. He trained at Harvard. He is from England. He was just a really first-rate pedigree.
    • A doctor any and they start a pain management clinic. People approach them and say hey, "you'd be perfect for this--you'd give us the reputation, and the kind of gravitas we need to start a pain management clinic," and they do.
    • That's the ones you usually target. If I'm a CIA guy, I don't go after second pedigree, I go after the first pedigree.
    • And I go after guys who are divorced, that are susceptible to beautiful young women.
    • They used to say in the CIA, "everything starts with a stripper."
    • I mean you know it's kind of like, "how do you make chicken cacciatore in the Hungarian cookbook? First you steal a chicken."
    • I'm sorry I didn't mean insult Hungarians, but you know the CIA cookbook was: first you get a stripper, and then that's how I get access, and then they start getting all the pillow secrets, and then you eventually start flying them around the world.
    • When you fly them to East Africa or West Africa in this case Guinea, you take them to a place, and you introduce some of these doctors, and these struggling villages, and you build this kind of sympathy toward whatever people, and then you say, "Well hey there's this pain clinic here, or there's this factory here, they're trying to get on their feet making synthetic drugs making generic drugs--here's the drug trial for it. Here's how great it is. And let's introduce this into the pain clinic, as a substitute for whatever the other drug is."
    • And at first the doctor's like, "I don't know, but then the sex is really great."
    • And then the doctor says, "I guess we could try it, and see how it goes."
    • Then he has his first couple of ODs, because the people had to double and triple the strength of their dosage.
    • And then they get cold feet.
    • The person who killed him--let's call him Bamp--he's from Guinea.
    • You don't have doctors with...you know Bamp had the key to their their condo, their penthouse condo, 11th floor condo.
    • So Bamp somehow gets into their condo, and slices their throats.
    • Now if remember if you're JTTF, you control the media. You control the local police.
    • You can tell the local police, "here's the statement you're going to make." You give it to them, you rehearse it with them three times, then they say it.
    • If you notice on all these things, the FBI guy's not too far behind, standing right over the right shoulder of the guy, to cut in if they make any false moves.
    • And here's where you you reuse that doctor.
    • You bring in a doctor from a foreign country. The sexy hot doctor, and you know you can say whatever you want.
    • You could say she was, you know, ground up in a in a meat grinder
    • Now I'm not saying this girl Dr. B is in that category, but I'm just saying if you want to run an operation--that's how you do it.
    • You don't kill off your Golden Goose: it keeps getting you new doctors in your pain clinics.
    • You just move them to different countries, and then you do it all over again change their name change your identity.
  • [197.4 Hillary's Hackers, Awan Brothers Saga Deepens, Part 4 - YouTube]
    • Ok day 195 here (no it's 197) in historic Deutschtown in Pittsburg
    • As you can see, there's kind of a large area here which is kind of a plaza which is nice
    • But this street has really beautiful brickwork all along this street, it's kind of a rejuvenated neighborhood.
    • Allegheny General--the hospital--is right down there, so it's Pittsburg's known for it's hip replacements because it has all these hills and older folks getting in and out of the driveways and so forth.
    • But I don't want to talk about that. I want to talk about the Military-Industrial-Complex--do you see the transition there.
    ANd the last person who challened you was Cynthia McKinney in 2004. She said, "hey what about this budget--what about this
    Then you got knocked out of Congress, then no one would want to challenge anybody. And that's what's happened
    has challenged the MIC. Cynthia Mckinney being the last person.
  • [197.5 Hillary's Hackers, Awan Brothers Saga Deepens, Part 5 - YouTube]
    • Okay here in Deuschtown Day 197 in Pittsburgh part five.
    • This isn't doesn't relate directly, but this is an awfully pretty street here on Ohio Street
    • 435 is where the post office is. General store and then farmer's daughter right here.
    • That style of brickwork is called Spanish or Mediterranean Revival.
    • The reason why I focused on Jeff Sessions and the Judicial Minister that he's meeting with today is: he's met with him twice before.
    • Once in February, once in March, and they've asked for his extradition twice.
    • Of course Erdrogan has the one of the largest intelligence office services in NATO, and if he starts putting Gulen on trial, lots of information will come out of it.
    • Just like the metadata for the emails it's going to be a treasure trove for investigators
    • And so that's why I focus so much on Gulen and his extradition
    • So that's the follow-up there, and we'll keep on the story we'll keep on all the stories keep generating metadata keep generating links because all those go into our big metadata project that we have with Maltego
submitted by 911bodysnatchers322 to TruthLeaks [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]

[GUIDE] How you can help decentralize the network using p2pool and rented hashing power.

Hey guys,
After seeing this ghash.io 51% drama play out for the second time I've decided to start contributing to the network using P2pool. I don't own any SHA256 mining hardware aside from a 330mh block erupter, so I started looking around for hashpower for rent that wouldn't cost me too much. I settled on using Betarigs and Nicehash, services that I already use to lease X13 hashpower on my GPU rigs. I found cheap hashing power on these services that would put me close to breaking even. So far the costs have been very small and I have put an average of 2TH on a local p2pool node. It's not much but every GH counts!
I've made instructions for renting on both websites. Be warned that P2Pool has a high variance due to their low hashrate, so ideally you would want to mine for a sustained period with a lower hashrate to balance it out.
The NiceHash method:
You will need:
  1. Create an account at NiceHash.com and add 0.01BTC on the deposit page.
  2. go to http://www.bitcoinx.com/profit/ and work out the amount of coins you will earn per terahash (0.0428 at the time of writing) This is the target price for your order. (please note that orders at a higher price take priority so matching the highest order guarantees that you will get your hashrate but is more expensive)
  3. Click the orders tab at the top of the page and create an order. Select SHA256 from the algorithm dropdown menu. The price per terahash should be slightly higher than the estimate you found on BitcoinX. Check which orders are going through on the front page and try to match that price. Limit the amount of mining power to 1 terahash per second to ensure your miner is going for as long as possible (this means there is less potential for variance).
  4. Find a p2pool node that is close to you. You can use http://p2pool-nodes.info/ for this. Find a node that is close to you and click on the url. Check the efficiency is around 100%. If it isn't, go back and find another node. If the node does fit the criteria you can proceed to the next step.
  5. Put the node URL (minus the http:// and port) into the pool address box on Nicehash. The port (usually 9332) should be put in the port box to the right.
  6. Put your BTC address in the user field and x in the password field. Double check to verify everything is correct and place the order.
You should soon see the hashrate of the p2pool node you are connected to go up and your address show up in the stats field. If this doesn't happen within 20 minutes, either edit your order to have a higher price per TH or wait for the higher priced orders to finish.
The Betarigs method
This method is cheaper than using Nicehash as you are renting hardware rather than raw hashrate, which you pay a 'convenience fee' for. This is not as straightforward but will cost you less and give you more choice of the rig you want to rent.
You will need:
  • Some Bitcoin
  • A P2Pool node to connect to (You can use http://p2pool-nodes.info/)
  • A Betarigs.com account (Sign up on their site for free)
  1. Sign up for a Betarigs account using the register link in the top right of the page and follow the steps to sign up.
  2. At the top left of the page, go to rent a rig and select SHA-256.
  3. Turn on results for all of the available rig sizes and hit search. You will see a list of rigs and their price per day, hashrate and price per TH on the right. The rigs displayed first are the cheapest per TH, placing them closer to breaking even with mining profit (while helping the network. Sweet!)
  4. Find a rig with a low price per TH that is within your price range. You can pick up an Antminer S1 for around 0.008 per 24h, often cheaper. When you've found a rig you would like to rent, click the green 'Rent Rig!' button to the right of the result.
  5. Double check that the information is correct and confirm that you would like to rent the rig. You will be taken to a page with fields for your pool, user and password.
  6. Find a p2pool node that is close to you. You can use http://p2pool-nodes.info/ for this. Find a node that is close to you and click on the url. Check the node's efficiency is close to or above 100%. If it isn't, go back and find another node. If the node does fit the criteria you can proceed to the next step.
  7. Put the node URL (minus the http://) into the pool address box on Nicehash. The port should go on the end of the url in this format - url:port
  8. Put your BTC address in the user field and x in the password field. Double check to verify everything is correct and click 'update the target mining pool'.
  9. Send the exact amount of BTC specified by Betarigs to the address displayed at the top of the control panel. After one confirmation, the rig will start to mine and you will be able to check your status on the p2pool node page soon!
I have around 1.5 TH (!1.2TH from NiceHash, ~300GH from Betarigs) pointed at a local p2pool node, 2-400gh of which should last for 3 days to 1 week. I decided to do this to decentralize the network rather than for profit although I do seem to be breaking even so far. P2Pool varies wildly so a lot of it is down to luck. I may add a picture tutorial if this picks up enough interest, as I aim to make this guide as noob friendly as possible. Please reply with any additions and I will add them to the OP.
Thanks for reading and keep hashing! :)
submitted by ch33s3mast3r to Bitcoin [link] [comments]

Why Hashflare is the best cloudmining service?

HashFlare is one of the most profitable and trusted cloud mining service from all that present on the market, offered to you by HashCoins cryptomining experts since 2014 company that develops software for Mining Mining and maintains equipment in data centers. Hashflare is not a ponzi or scam but a real mining company that rents out mining space. You buy computing hash power in H / s against payroll. Hashflare right now is one of the least expensive contracts on the market for clood mining it would be a great opportunity to invest in.
Hashflare offers 4 different mining contracts.
1- "Bitcoin" algorithm SHA256 from $ 2.2 for 10 GH / s the contract lasts 1 year. Maintenance fee: 0.0035 $
SCRYPT "bitcoin" algorithm from $ 7.5 for 1 MH / s the contract lasts 1 year. Maintenance fee: 0.005 $
Ethereum ETHASH algorithm starting from $ 2.2 for 100 KH / s the contract lasts 1 year. No maintenance fees
4: Algorithm "Dash" X11 from $ 3.20 the MH / s for the contract lasts 1 year. No maintenance fees
5: EQUIHASH algorithm miner Z-cash from $ 2.00 for 1H / s for the contract lasts 1 year.maintenance fees
The the website Hashflare bring a dashboard that is very well detailed and no complicated when first used. You can track and follow your investment via a the detailed curve showing the performance of the pools of the day and your balance. The mining pools proposed by Hashflare can be modified you can add other pools if you want to have a little more gain but remain goatoir.
You have the possibility to activate the magic tool for automatic re-investisment on the SHA256 and the SCRYPT to increase your computing power day after day its good strategy to grow up your power.
Instant payment after your confirmation by email from 0.0007 BTC with transfer fee to 0.0003 btc
Regarding how much profit you can make depends upon 3 major factors:
*Your Hashrate plan, SHA-256 ( Higher the Hashrate more will be the profit) *Bitcoin value/price ( Higher the Bitcoin price, more will be your profit) *Bitcoin mining difficulty ( Less difficulty more profit) The above three factors are very crucial in deciding your profit.
submitted by trestinn to HashflareCode [link] [comments]

Difficulty and price

Right now gridseeds and other ASICS are ballooning the scrypt network hashrate. The majority of the network will soon be ASICS on scrypt, therefore most of the miners will be able to sell their mined coins at a price much lower than everyone else and still remain profitable because of such low electricity costs. Another thing that is destroying the scrypt network is the huge amount of popularity surrounding the profit switching auto trade to BTC alt coin pools such was waffle/cm/mc. Each of these pools has 10-20 GH on them each and auto sell whatever they mine straight into BTC, when they do this they are emulating a ASIC miner who has no overheads, all of the miners are selling their minted coins without a thought on profitability, essentially they are giving away their coins for nothing. The price of all alt coins (and LTC now since the big pools mentioned earlier are just mining LTC most of the time anyways) just keeps going down like someone running down a hill.
Vertcoin will be different because we 1) Obviously don't have ASICS, 2) don't have large profit switching pools built around scrypt-N atm, and if they ever do materialise you should avoid them like the plague because you saw what they did to the scrypt networks profitability, they are toxic and should be boycotted.
Price will follow how much supply is incoming from miners, it's really simple. If you are a miner and you are not making "enough" <--(This is the global average over the entire network of what each miner thinks is acceptable), then you should hold your coins, until the artificial scarcity from this drives the price up to where you can remain profitable again. This is how Bitcoin works, most will not admit it and most will never give this theory the light of day, some are in denial, the point is whether or not you are consciously doing this, it happens anyways. The downfall to the scrypt network was 1) Profit switching pools auto selling everything into BTC 2) ASICS.
Here's an example of the theory in work - AUR coin took rediculously long time to confirm mining rewards, 100 confirms and block time took ages, from the point of a block being found, it took over 24 hours to receive your coins. When they released it AURcoin, they set the price on the exchange between two insiders who had some pre mined coins, then external miners all hopped onto the network, with the "fake" profitability that they saw. Even i did it, i rented out 70mh to mine it and ended up losing 90% of what i paid to rent the machines. As all the miners piled onto the network, there was literally 0 supply of coins, and only the few speculators who were buying on the exchanges drove the price up during those initial few days of extremely limited supply. Ultimately this artificial scarcity drove it to such heights shortly after its announcement, but with such thin volume on the buy orders it collapsed. Also this theory coincides with my observations that profitability will always trend towards a "weighted average" across all miners on the network, which accommodates for all miners overheads, and a small percentage of profits. Right now the scrypt network is at the mercy of the BTC economy and any one still mining scrypt will soon have to either switch off or wait until the next BTC bubble to be profitable again, VTC can be different however.
Viva Vertcoin, it will literally be a repeat of Litecoin itself.
submitted by Vertcoin_ to vertcoin [link] [comments]

For Sale: 180+ GH/s BITCOIN MINER MINING CONTRACT RENTAL for((( one week + one day free )) on cryptothrift

For Sale: 180+ GH/s BITCOIN MINER MINING CONTRACT RENTAL for((( one week + one day free )) on cryptothrift for cryptocoins
Tags: rent mining
cryptothrift is a Bitcoin, Litecoin and altcoin marketplace and auction site with automated escrow.
submitted by cryptothrift to cryptothrift [link] [comments]

For Sale: 180+ GH/s BITCOIN MINER MINING CONTRACT RENTAL for(( one day + 2 hours free, con on cryptothrift

For Sale: 180+ GH/s BITCOIN MINER MINING CONTRACT RENTAL for(( one day + 2 hours free, con on cryptothrift for cryptocoins
Tags: rent mining gig
cryptothrift is a Bitcoin, Litecoin and altcoin marketplace and auction site with automated escrow.
submitted by cryptothrift to cryptothrift [link] [comments]

How to earn Bitcoin?

Overview - Table of Contents Introduction to Earning in Bitcoin Work for Bitcoin Sell for Bitcoin Affiliate Programs Gambling Bitcoin Mining Hardware Mining Cloud Mining Introduction to Earning in Bitcoin Bitcoin is the most popular digital currency in the world today. Bitcoin cloud mining is the fastest way to immediately begin earning bitcoins. Bitcoin is built using very complicated cryptographic principles, and supported by countless individuals and companies from all around the world. By early 2016, total Bitcoin market capitalization had crossed USD 7 Billion, making it almost as valuable as the GDP of a small country like Bahamas. All the other digital currencies together do not constitute even 20% of Bitcoin’s market capitalization, underlining the its dominance and importance in the world of digital currencies.
With such a huge amount of world’s capital available in the form of Bitcoins, the number and types of opportunities to earn in bitcoins are increasing by the day. In this article we will discuss such opportunities that help us earn bitcoins.
We will start with the easiest, or the one that is applicable for the maximum number of people, and then move to the tougher ones. In the end we will cover earning bitcoins by mining. Bitcoin mining is not an easy way to earn bitcoins, but we do have a number of easier ones we will discuss first. So lets start with ‘earning bitcoins by offering your services’
Work for Bitcoin Perhaps the easiest way to earn bitcoins is to work online or in real life for bitcoins. Because of the huge size of the bitcoin eco-system, a number of such opportunities and jobs are available. With Billions of dollars invested in Bitcoin by tens of thousands of people, there is a real market in Bitcoin, where you can find jobs for freelancers, software developers, writers, and others who get paid in bitcoins for their services.
Software development, writing, design, making websites or apps, audio transcription, are some of the most active types of jobs. You can easily discover the types of jobs by going over the more popular job boards for bitcoin related work. The following job boards or forums are some of the best places to look for such jobs or gigs.
Freelancing
XBTfreelancer Cryptogrind Bitlancerr Coinality Bitgigs Jobs4Bitcoins Rein Project Crypto Jobs List Market Places
OpenBazaar Purse.io Bitify /bitmarket 21 Market Video Streaming
Watchmybit Streamium.io Tasks
Bitasker BitforTip WillPayCoin File/Image Sharing
Supload.com SatoshiBox JoyStream Advertising
CoinAd A-ads Coinzilla.io Also, check BitcoinGames for ideas on earning bitcoin and blockchain game assets.
Sell for bitcoin You can also get Bitcoin by selling your old laptops, phones or other items for Bitcoins. Such types of transactions are happening more and more, and a lot of buyers are already buying anything from iPhones to even cars by paying with Bitcoins. For Americans, Craigslist.com is your best bet when you want to find such buyers. You can mention in your ad that you are willing to take payment in Bitcoin. This way if anyone wants to buy the item for you for Bitcoin, they can contact you and make an offer. The same principle applies to other online marketplaces such as gumtree for UK, kijiji for canda etc.
Affiliate Programs Affiliate programs allow a promoter of a business or product to earn money or bitcoins by refering new clients to such businesses or products. For example, amazon.com has a popular affiliate program, where you can earn commission ranging from 2% to 20% for refering clients to products listed on amazon.com. Amazon normally pays in dollars, but there are a number of other sites and businesses which pay you in bitcoin for acting as their affiliate.
Some of the more popular affiliate programs that pay out in Bitcoin are by the sites: cex.io, coinbase.com, okcoin.com and namecheap.com, among others. You can find a larger list of such affiliate programs on the bitcoin wiki page for Affiliates.
Gambling We do not recommend gambling for every player or every user; we find that gambling is only suitable for people who know how to win at it. However, if you are one of such lucky users who have some tricks up their sleeves, and can manage to win at games such as poker, then you will find that earning bitcoins is not that hard.
One of the many applications of bitcoin since the very beginning have been in betting games or gambling. Because of the relative anonymity of bitcoin, and the lower fees, it is very suitable for gambling related applications. Indeed, one such game, satoshiDICE, has been running since 2012, and has paid out a huge number of bitcoins in innumerable transactions to its winners. There are many such games, which you can find be googling.
If you want to gamble totally anonymously, you can play gambling or betting games that are available only on darknet or .onion sites. Such sites allow you to browse them anonymous by operating on the tor network, which is a secure network that allows users to browse .onion websites without exposing their own IP address.
Bitcoin Mining For each block that is added to the Bitcoin Blockchain, a number of bitcoins are rewarded to the creater of that block. This reward is currently, as of June 2016, 25 bitcoins per block, and it halves every four years. The next halving will be in July 2016. Creating or finding the new blocks, and therefore winning the reward of 25 bitcoins for each block you create, is called bitcoin mining. To do bitcoin mining successfully, you need very powerful computers, which compete with other computers to find the next block. The speed or power of computer that do bitcoin mining is calculated in hashes calculated per second.
There are two ways to do bitcoin mining: one is to own hardware or computers that do the mining, and second is to hire the hardware from a third party, usually online, and do the mining on the cloud. Let us discuss the advantages and disadvantages of both in next two sections.
Hardware Mining When you own the hardware that does the calculations and mining of bitcoins, its called hardware mining. Hardware mining is the more popular or prevalent of the two types of mining we mentioned. One of the biggest factors which comes into play when doing bitcoin mining using your own hardware is the price of electricity. If you pay top price for electricity, then bitcoin mining may not be your cup of tea. Another related factor is infrastructure needed to cool the hardware; since every cpu generates some amount of heat, you may need to cool the hardware in case they become too heated. No wonder that some of the most successful miners work from China, specially Tibet, where they can get cheap electricity, and their cooling costs are low due to high altitude which reduces the ambient temperature for them.
For a more in-depth information on how to setup your hardware mining equipment, have a look at the Antminer setup page.
Currently, based on (1) price per hash and (2) electrical efficiency the best Bitcoin miner options are:
AntMiner S7 AntMiner S7 Bitcoin Miner 4.73 Th/s 0.25 W/Gh 8.8 pounds Yes $479.95 AntMiner S7 Bitcoin Miner 0.1645
AntMiner S9 AntMiner S9 Bitcoin Miner 13.5 Th/s 0.098 W/Gh 8.1 pounds Yes $1,987.95 AntMiner S9 Bitcoin Miner 0.3603
Avalon6 Avalon6 Bitcoin Miner 3.5 Th/s 0.29 W/Gh 9.5 pounds No $499.95 Avalon6 Bitcoin Miner 0.1232 Cloud Mining There are a number of service providers that allow you to rent computational hardware from them, which can then be used to do bitcon mining. Some of these services are designed with bitcoin mining in mind, whereas others such as Amazon AWS are general purpose services that can also be used to do bitcoin mining.
Some of the cloud mining services which can be used to do bitcoin mining on the cloud are:
Hashflare Review: Hashflare offers SHA-256 mining contracts and more profitable SHA-256 coins can be mined while automatic payouts are still in BTC. Customers must purchase at least 10 GH/s.
Genesis Mining Review: Genesis Mining is the largest Bitcoin and scrypt cloud mining provider. Genesis Mining offers three Bitcoin cloud mining plans that are reasonably priced. Zcash mining contracts are also available.
Hashing 24 Review: Hashing24 has been involved with Bitcoin mining since 2012. They have facilities in Iceland and Georgia. They use modern ASIC chips from BitFury deliver the maximum performance and efficiency possible.
Minex Review: Minex is an innovative aggregator of blockchain projects presented in an economic simulation game format. Users purchase Cloudpacks which can then be used to build an index from pre-picked sets of cloud mining farms, lotteries, casinos, real-world markets and much more.
Minergate Review: Offers both pool and merged mining and cloud mining services for Bitcoin.
Hashnest Review: Hashnest is operated by Bitmain, the producer of the Antminer line of Bitcoin miners. HashNest currently has over 600 Antminer S7s for rent. You can view the most up-to-date pricing and availability on Hashnest's website. At the time of writing one Antminer S7's hash rate can be rented for $1,200.
Bitcoin Cloud Mining Review: Currently all Bitcoin Cloud Mining contracts are sold out.
NiceHash Review: NiceHash is unique in that it uses an orderbook to match mining contract buyers and sellers. Check its website for up-to-date prices.
Eobot Review: Start cloud mining Bitcoin with as little as $10. Eobot claims customers can break even in 14 months.
MineOnCloud Review: MineOnCloud currently has about 35 TH/s of mining equipment for rent in the cloud. Some miners available for rent include AntMiner S4s and S5s.
Written by Bitcoin Mining on May 4, 2016.
submitted by mibmabus to u/mibmabus [link] [comments]

For Sale: 180+ GH/s BITCOIN MINER MINING CONTRACT RENTAL ALL sha256 coins Avalon cex.io gh on cryptothrift

For Sale: 180+ GH/s BITCOIN MINER MINING CONTRACT RENTAL ALL sha256 coins Avalon cex.io gh on cryptothrift for cryptocoins
Tags: rent mining
cryptothrift is a Bitcoin, Litecoin and altcoin marketplace and auction site with automated escrow.
submitted by cryptothrift to cryptothrift [link] [comments]

For Sale: 180+ GH/s BITCOIN MINER MINING CONTRACT RENTAL for(( one day + 2 hours free, con on cryptothrift

For Sale: 180+ GH/s BITCOIN MINER MINING CONTRACT RENTAL for(( one day + 2 hours free, con on cryptothrift for cryptocoins
Tags: rent mining gig
cryptothrift is a Bitcoin, Litecoin and altcoin marketplace and auction site with automated escrow.
submitted by cryptothrift to cryptothrift [link] [comments]

04-24 15:06 - 'To draw in the suckers. / Step 1. Buy 50M FTC (about 30% of all FTC) when the price is low ($0.004). Cost $200,000, but may take many months. / Step 2. Buy a bunch of GPUs (e.g. 1.4 Gh/s worth) and ramp up hashing. Cost $500...' by /u/cointastical removed from /r/Bitcoin within 3-8min

'''
To draw in the suckers.
Step 1. Buy 50M FTC (about 30% of all FTC) when the price is low ($0.004). Cost $200,000, but may take many months.
Step 2. Buy a bunch of GPUs (e.g. 1.4 Gh/s worth) and ramp up hashing. Cost $500,000 (or rent, or ASIC, much cheaper).
Step 3. Pump pump pump. Cost $200,000 Acquires another 10M FTC at an average cost of $0.02.
After market cap rises 10X,
Step 4. Dump dump dump, at $0.04 per FTC and higher. Proceeds after a couple weeks of this (having sold half the initial 50M FTC) $1M. So this will have covered all expenditures to-date, and is now revenues are all profit at this point. Sell into the market the remaining 35M FTC (second half of the initial 50M, plus the 10M bought during the pump) more slowly. Remember, all revenue is pure profit at this point. Then can sell the $500K worth of GPUs Again, straight into profit.
This triples your money. $1 invested returns more than $3. About the only risk is if the pump fails and you've overspent on the coins bought during the pump. But there are enough altcoin momentum sheep out there so this might not be a big risk.
Then again, maybe the world really does need another PoW altcoin with a $10M market cap. Who knows.
An altcoin with a $10M market cap though paints a nice big target on its back. Litecoin would really be tough to 51% attack due to its large amount of mining. But FTC now has a market cap that makes it a juicy target and an attack is feasible. The only part stopping such an attack today is that there are so few exchanges handling FTC, ... so it is impossible to quickly sell $2M worth of FTC.
'''
Context Link
Go1dfish undelete link
unreddit undelete link
Author: cointastical
submitted by removalbot to removalbot [link] [comments]

Eobot - 10 GHS 4.0 Todos os dias EOBOT 24 Hour GHS VS 24 Hour Scrypt Cloud Boost and Prime Strategy EOBOT STRATEGIES  Is it Better to get the 24 Hour GHS Rental or 5 Year GHS Rental ? Eobot trick GHS Eobot Mining Part2 - 0 to 283 GHs Hashrate in 2days!

You can rent hashrate from the most reliable free cloud mining websites. Free cloud mining is the best option for a newbie, who doesn't have knowledge of how to set up mining hardware and wants to be a part of free bitcoin mining industries. Megamining is the best free cloud mining company, in order to get constant income, investing in bitcoin cloud mining is the most sensible approach. What ... Get hands on bitcoin cloud mining with free GH/S every hour. Start Now. Tap Into Miningstar and unlock real Blockchain Power. Mining star ensure long term and stable profit. Join and become a part of long term sustainable mining profits with highly qualified & experienced miners team. Mining without Borders . Join Miningstar and access our mining datacentre from anywhere in the world. Record ... The Bitcoin.com mining pool has the lowest share reject rate (0.15%) we've ever seen. Other pools have over 0.30% rejected shares. Furthermore, the Bitcoin.com pool has a super responsive and reliable support team. While bitcoin mining is a more or less passive way of gaining bitcoin, trading GHS allows you to be involved in the world trading processes. You can treat GHS more or less the same as any other currency or commodity – you can make a profit on GHS price difference by buying low and selling high. In this case, though, we are not speaking about currency or metal pairs, it’s about Accurate Bitcoin mining calculator trusted by millions of cryptocurrency miners since May 2013 - developed by an OG Bitcoin miner looking to maximize on mining profits and calculate ROI for new ASIC miners. Updated in 2020, the newest version of the Bitcoin mining calculator makes it simple and easy to quickly calculate mining profitability for your Bitcoin mining hardware.

[index] [5255] [44893] [22837] [37352] [6644] [7454] [8422] [163] [31171] [42374]

Eobot - 10 GHS 4.0 Todos os dias

Earn Money Online -Rent Power 1329 ghs Cloud Mining With Eobot Hindi Urdu Day 3 Gadgets Lovers Android Fast Browser : http://www.mediafire.com/file/kz7pmb... In this video we compare 2 boosts and evaluate which is best additionally we mention a Prime Strategy in the end to when to invest in what . Build your Free ... bonus 12000 ghs and more 12 in 1 free cloud mining site you can unlimited earning hear-mining hyip ... BITCOIN - EPIC POWER PLAY ... How to Analyze a Fix-and-Rent Property BiggerPockets BRRRR ... Eboot mining on 142984 GHS power how to purchase power and how to mining how to deposit and how to withdraw watch this video and learn should you buy or not 24 hours rental plan. EOBOT STRATEGIES Is it Better to get the 24 Hour GHS Rental or 5 Year GHS Rental ? Emmanuel Abou Chabke. Loading... Unsubscribe from Emmanuel Abou Chabke? Cancel Unsubscribe. Working ...

#