A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
08-22 23:05 - 'Brad Mills:Roger Ver's son was out aerating lawns in my neighborhood. I asked him to do mine. When he was done, he asked how I wanted to pay. I said cash, toilet paper or #Bitcoin . He told me he had lost BTC on Quad...' (twitter.com) by /u/rnvk removed from /r/Bitcoin within 84-94min
Trying to calculate bitcoin mining profitability but im not getting it right. How can i do it with these hardware specs?
PC specs: nvidia geforce 830m intel core i7-5500U CPU 2.40GHz *No costs with energy I tried to calculate on online tools but i must be doing something wrong because all of them are giving me wrong values (there are some fields that i dont know their meaning like Hashing Power,Polling Fee,Bitcoin Difficulty, Hash Rate, Block Reward, etc... )
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Core/Blockstream attacks any dev who knows how to do simple & safe "Satoshi-style" on-chain scaling for Bitcoin, like Mike Hearn and Gavin Andresen. Now we're left with idiots like Greg Maxwell, Adam Back and Luke-Jr - who don't really understand scaling, mining, Bitcoin, or capacity planning.
Before Core and AXA-owned Blockstream started trying to monopolize and hijack Bitcoin development, Bitcoin had some intelligent devs. Remember Mike Hearn? Mike Hearn was a professional capacity planner for one of the world's busiest websites: Google Maps / Earth.
TIL On chain scaling advocate Mike Hearn was a professional capacity planner for one of the world’s busiest websites.
21 months ago, Gavin Andresen published "A Scalability Roadmap", including sections called: "Increasing transaction volume", "Bigger Block Road Map", and "The Future Looks Bright". This was the Bitcoin we signed up for. It's time for us to take Bitcoin back from the strangle-hold of Blockstream.
Gavin Andresen: "Let's eliminate the limit. Nothing bad will happen if we do, and if I'm wrong the bad things would be mild annoyances, not existential risks, much less risky than operating a network near 100% capacity." (June 2016)
"Notice how anyone who has even remotely supported on-chain scaling has been censored, hounded, DDoS'd, attacked, slandered & removed from any area of Core influence. Community, business, Hearn, Gavin, Jeff, XT, Classic, Coinbase, Unlimited, ViaBTC, Ver, Jihan, Bitcoin.com, btc" ~ u/randy-lawnmole
4 weird facts about Adam Back: (1) He never contributed any code to Bitcoin. (2) His Twitter profile contains 2 lies. (3) He wasn't an early adopter, because he never thought Bitcoin would work. (4) He can't figure out how to make Lightning Network decentralized. So... why do people listen to him??
https://np.reddit.com/btc/comments/6a72vm/purely_coincidental/ Why does it seem so hard to "scale" Bitcoin? Because we've been following toxic insane "leaders" like Greg Maxwell, Luke-Jr, and Adam Back. Here are two old posts - from over a year ago - when everyone already had their hair on fire about the urgency of increaing the blocksize. Meanwhile the clueless "leaders" from Core - Greg Maxwell and Luke-Jr - ignored everyone because they're are apparently too stupid to read a simple graph:
Just click on these historical blocksize graphs - all trending dangerously close to the 1 MB (1000KB) artificial limit. And then ask yourself: Would you hire a CTO / team whose Capacity Planning Roadmap from December 2015 officially stated: "The current capacity situation is no emergency" ?
"They [Core/Blockstream] fear a hard fork will remove them from their dominant position." ... "Hard forks are 'dangerous' because they put the market in charge, and the market might vote against '[the] experts' [at Core/Blockstream]" - ForkiusMaximus
"The 'logic' of a 'UASF' is that if a minority throw themselves off a cliff, the majority will follow behind and hand them a parachute before they hit the ground. Plus, I'm not even sure SegWit on a minority chain makes any sense given the Anyone-Can-Spend hack that was used." ~ u/Capt_Roger_Murdock
They have been immensely damaging to Bitcoin with their repeated denials of reality and their total misunderstanding of how Bitcoin works. Insane toxic "leaders" like Greg Maxwell, Luke-Jr and Adam Back keep spreading nonsense and lies which are harmful to the needs of Bitcoin users and miners. What can we do now? Code that supports bigger blocks (Bitcoin Unlimited, Bitcoin Classic, Extension Blocks, 8 MB blocksize) is already being used by 40-50% of hashpower on the network. https://coin.dance/blocks http://nodecounter.com/#bitcoin_classic_blocks Code that supports bigger blocks:
Scaling Bitcoin is only complicated or dangerous if you listen to insane toxic "leaders" like Greg Maxwell, Luke-Jr and Adam Back. Scaling Bitcoin is safe and simple if you just ignore the bizarre proposals like SegWit and now UASF being pushed by those insane toxic "leaders". We can simply install software like Bitcoin Unlimited, Bitcoin Classic - or any client supporting bigger blocks, such as Extension Blocks or 8 MB blocksize - and move forward to simple & safe on-chain scaling for Bitcoin - and we could easily enjoy a scenario such as the following:
Bitcoin Original: Reinstate Satoshi's original 32MB max blocksize. If actual blocks grow 54% per year (and price grows 1.542 = 2.37x per year - Metcalfe's Law), then in 8 years we'd have 32MB blocks, 100 txns/sec, 1 BTC = 1 million USD - 100% on-chain P2P cash, without SegWit/Lightning or Unlimited
Since the evolution of Bitcoin, mining is a great source of income. But anyone has wondered how much energy is required to mine Bitcoin? Is it now worth to do mining? Dago mining works directly looking after energy problems. https://dago-mining.com
Hey so I want to start to learn how to do bitcoin mining. Any veterans out there know exactly what is the most efficient cost effective way to mine? What about to start? I have a 960 and while that is probably not a good start to bitcoin mining, where should I start? Anything I should avoid to keep my gpu healthy while under the stress of mining? Are those cloud based mining sites trust worthy? What's the best way to mine? I hope someone can enlighten me to your ways.
For example, as of 2019, Genesis offers a 2-year Bitcoin mining contract for $50, which gets you 1 TH/s (1 Tera hash per second, or 1,000,000,000,000 hashes per second). This sounds like a lot, but it's unlikely that you'd do much more than break even in 2 years on such a small plan. First, it’s important to consider the right environment for getting started with Bitcoin mining. If you live in a remote location without high-speed internet access, this isn’t a great option. You should go for regions where you have high-speed internet and the miner is close enough to the power supply for it to be easily connected to a ... Bitcoin mining is the process by which new bitcoins are entered into circulation, but it is also a critical component of the maintenance and development of the blockchain ledger. Bitcoin mining is difficult to do profitably but if you try then this Bitcoin miner is probably a good shot. How Bitcoin Mining Works. Before you start mining Bitcoin, it's useful to understand what Bitcoin mining really means. Bitcoin mining is legal and is accomplished by running SHA256 double round hash verification processes in order to ... Bitcoin mining is done by specialized computers. The role of miners is to secure the network and to process every Bitcoin transaction. Miners achieve this by solving a computational problem which allows them to chain together blocks of transactions (hence Bitcoin’s famous “blockchain”).. For this service, miners are rewarded with newly-created Bitcoins and transaction fees.
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