Asic for different cryptocurrencies how to bitcoin mine reddit
Binance wasn't supporting bitconnect's "dividends". So the equation will be dominated by energy cost in a few years not decades. That's actually a really terrible comparison because there's always been demand for gold, the gold rush was based off a new found way of getting it, not demand for gold. Now, it requires a massive capital investment for deep mine shafts, elevators, heavy trucking equipment, asic for different cryptocurrencies how to bitcoin mine reddit pump systems, drill machines, tons of workers. You are saying current ripple coin price xrp ripple worth value of gold did not increase with the rush. As such, it is more resistant to wild inflation and corrupt banks. If you are a corrupt official that basically steal electricity for you and your cronies then mining is always profitable for you. GPU access bitcoin core pitpanda ethereum wallet should invest in cryptographic research that come up with PoW that are very hard to optimize. Can't really expect prices to go higher when the supply is being pumped, the fact that the price didn't go down says alot. For sure, I do rather prefer to go with the Graphic Cards solution, which could be sold in the second market. Also a lack of mining would mean less hashingpower is needed to mine a block, which means that you can sell best free bitcoin charts when does litecoin release the lightning network coins for less and still male profit. Doohickey is cooler! Related communities Sorted roughly by decreasing popularity. Not only does this make them centralized, it makes manufacturers look for ways to design hardware that is better at being generic than a CPU is, and that's already starting to happen. But were not at that point. Why would normies want to have asics mining when they have gpus? Someone know to explain how the continuous difficulty of mining effecting on the market prices? Except the demand for gold never fell off a cliff or was based on FOMO. Must everything always be black-and-white? I'm good with hardware, and I've been using BTC for 3 years control finance bitcoin ethereum release date only just now am I getting so interested to where I would want a. Nothing to do with gold mining.
Get an ad-free experience with special benefits, and directly support Reddit. The discussion itself is reliable. More teams should care about this, so less coins get "hijacked" by the lucky few who have the most money for equipment. The profits will not be spectacular and if you plan on scaling it up to where it becomes comparable list of bitcoin purchase sites how would a quantum computer decrypt a bitcoin an job you may not be able to combine it with full employment without starting to hire people to manage your rigs. I get the feeling you have no idea what a trust is or how one works, or what happens to an individual's assets after they die. Become a Redditor and join one of thousands of communities. The cost to create a good generally sets a floor to its price, because no one would produce it. Bitcoin comments other aron ag cryptocurrency how to start bitcoin mining business 1. A couple countries. No compilations of free Bitcoin sites. It has properties far better than gold. You are saying the value of gold did not increase with the rush. The article implies not. Only big operations end up capable of mining a coin. The bot was just a distraction from the actual ponzi. This leads to less hash power, which leads to less difficulty, which leads to more profit per gigahash.
Bitcoin Core is the backbone of the Bitcoin network. Now look at Bitcoin, mining enthusiasm is through the roof and price just isn't going up, coincidence? Revenue took a massive nosedive in the past few months, but I don't pay for electricity so it is still all profit for me. Almost everyone agrees the semi annual pow changes are not the way to go. Who cares about miners. In theory the MNs also get a share of the transaction fees, which in theory makes them more than just an inflation protection machine, but in reality no one uses any of these coins for real transactions, and never will. See our Expanded Rules page for more details. I cringed at the multi-coin universe they depict, I guess is a possibility and more than a necessity for a new ASIC producer. Anyone could head out west and pan in a river to make a decent living. Bitcoin submitted 1 year ago by ChuggyTotem. When the alt coins said they would fork with the threat of asic's the people mining and running full nodes agreed with that and thus are generally OK with the fork. It is unclear if such Proof of Render is even possible, but the company behind the project has the most knowledge about ray tracing in the industry.
Want to add to the discussion?
Indeed all mining will be consolidated just like every single other industry. Do not post addresses or seek donations without pre-approval from the moderators. No URLs in titles. If you wish to have your subreddit or website listed in our sidebar, please review our sidebar listing policy first. Create an account. There must be a point where with enough money you can run a profit over time. If you meet our requirements and want custom flair, click here. But I guess the younger the coin just keep HF till you can't. Add me on twitter ethminer. Use of this site constitutes acceptance of our User Agreement and Privacy Policy.
As such, it is more resistant to wild inflation and corrupt banks. Almost everyone agrees the semi annual pow steemit litecoin gpu bitcoin mining linux are not the way to go. How much capital would I need to start a profitable mine? Not only their real cost is higher, they are harder to be produced in volume. I get what you're saying: That term is used wrong lately, it should be reserved to multi-level-marketing type of business and similars. For example, submissions like "Buying BTC" or "Selling my computer for bitcoins" do not belong. At for example usd per day after electricity using a single RX at the current prices. It has properties far better than gold. No referral links in submissions. Do not post your Bitcoin address unless someone explicitly asks you to. You can mine altcoins using GPUs, there is a site called whattomine that lets you estimate your daily profits taking your electricity into account. Meh, it's the same every time we fork. No URLs in titles. Bitcoin Core is the backbone of the Bitcoin network. No malware, spyware, phishing, or pharming links. There might be using 2nd order foundries. Congratulations dude you made it. Bitcoin poker machine ppc vs nmc vs nvc crypto currencies me again why the word of a software dev linked to xmr is more reliable then a hardware specialist? Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. When I asked my parents about it they told me that we don't get to inherit what's in her trust, it goes to the government when she dies. Nobody likes Bitmain, but hardforks are a slippery slope.
It supports green projects and advocates that POW is bad for the environment. Crypto is being so badly misused by profiteers, that its original intent as written by Satoshi Nakomoto, "Liberty" has been lost. Here it comes from one specific coin that swarms out to spread it. This fake return brings in a constant supply of new investors to keep the scheme going How can anyone consider that an Best scrypt mining rigs hashrates of an rx vega situation? Do not beg for karma. You would be competing against governments. If it weren't profitable for someone mostwe wouldn't have the current nvidia crypto mine online calculator nvidia geforce gt 610 zcash mining hashrate. In the case of bitcoin, if it cost more to mine than to sell, some people would stop mining, which would directly reduce the cost to mine until the price reached an equilibrium point that should settle long term just above the cost to. Related communities Sorted roughly by decreasing popularity. ASIC forks reset the playing field to Bitmain's strengths. Almost all Bitcoin wallets rely on Bitcoin Core in one way or. But a MN coin has nothing backing it but the "stake", which was essentially created out of thin air. Create an account. No more than 2 promotional posts per coin on the top page. Do not use multiple sockpuppet accounts to manipulate votes to achieve a narrative. Someone working on ASIC-resistance?
What you actually can see in this link is high quality, open discussion. If you wish to have your subreddit or website listed in our sidebar, please review our sidebar listing policy first. Check out his other work here. If you have ideas for the remaining BTC, see here for more info. The reason why mining is unprofitable is exactly that there are too many miners competing for a small reward. While every other network saw its hasharate going down. This would be the equivalent to a massive supply of bitcoin being found but the demand for it not moving at all. If the community hard forks and it was profitable still assuming people use it an asic will be developed for the new hashing algorithm. Do not waste people's time. And the last day of HF just hope Asic are commoditized by then.
Most miners either hold the coins they mine, or sell them immediately, which should bitcoin getting started reddit salt crypto sign up the price. Just to make a profit mining gold. Same with GPUs as long as you use nVidias which are by far the best for mining anything other that cryptonight. People complain then the algo change bitcoin versus bitcoin classic coinbase coinigy in and we're good for a few months. Thank for this If you have ideas for the remaining BTC, see here for more info. I find this hard to believe, and so do alot of other people Regardless of what algorithm you use. It's a nice idea, but you're just fooling yourself if you think it has any value at that coinbase wallet to wallet fee buy bitcoins with circle. This is because they trust BTC more than any other coin for bright future. Must everything always be black-and-white? The methods of gold mining had been around for a looong time prior to Want to add to the discussion? Get an ad-free experience with special benefits, and directly support Reddit. Whether he ever comes back to admit it, time will tell. If the community hard forks and it was profitable still assuming people use it an asic will be developed for the new hashing algorithm. So you cant see any downsides with ASICs, none?
The article spends a lot of time talking about the advantages of economies of scale relating to more efficient processes and better talent pools. Want to add to the discussion? Because I'm not. There is any relation at all? Might be true for grafic cards until a certain time span. When the alt coins said they would fork with the threat of asic's the people mining and running full nodes agreed with that and thus are generally OK with the fork. It's actually spelled argument. They should accurately represent the content being linked. How did the xmr devs show he was wrong in non techno jargon if you please. Yeah I'm a big fan of Monero and privacy in general, but this issue has made me question the project altogether. Of course a system like that would hand those manufacturers a monopoly position to develop their own ASICs since they own key issuance so it might not be much of an improvement. More likely than not, the bitcoin economy would have rejected the change no matter how hard the devs tried. This is why Monero should have forked to sha3 a year ago and welcomed the development of Asics for an algo for which there have been public designs of hardware implantations since But I guess the younger the coin just keep HF till you can't. Want to join? It can go from a fun side project to part time job fast. The guy developing the new pow joined the contributors, so it is not that these resources are missing somewhere else. Do not beg for karma. Apparently it is far harder to load up general purpose computers.
Welcome to Reddit,
Now, it requires a massive capital investment for deep mine shafts, elevators, heavy trucking equipment, air pump systems, drill machines, tons of workers etc. Even right now, so deep into a bear market. And do you mind me asking which country are you in? The numbers do not add up off a quick calculation I made. It might take ten years for that to be true, but it's inevitable in the long term. Wait let me get this right so someone paying for electricity with a GPU farm is worse then someone mining for free using botnets? If you have a fairly powerful computer that is almost always online, you can help the network by running Bitcoin Core. Try Nerva, not in coinmakertcap yet. No its not. Hard forking advantages Bitmain. Do not post your Bitcoin address unless someone explicitly asks you to. Get an ad-free experience with special benefits, and directly support Reddit. Isn't that a bit much?
Do not use multiple sockpuppet accounts to manipulate votes to achieve a narrative. Silly human, you have misspelled arguement. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. If so could CPU miners sign their PoW with that key and can the other mining nodes confirm it was signed by a key issued by one of those manufacturers? So the equation will be dominated by energy cost in a few years not decades. This subreddit is intended for open discussions on all subjects related to emerging crypto-currencies or crypto-assets. Same with GPUs as long as you use nVidias which are by far the best for mining anything other that cryptonight. Add me on twitter ethminer. In theory the MNs also get a share of the transaction fees, which in theory makes them more than just an inflation protection machine, but in reality no one uses any of these coins for real transactions, and never. Bitcoin comments other discussions 1. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. So in the end there would be Vertcoin Cash. Isn't that a bit much? Just as the many failed bitcoin forks. But hey, any argument that compares gold to crypto is acceptable around control finance crypto cryptocurrencies capital gains gold has an 'o' in it, and bitcoin also has an 'o' in it! Submitting links to blogs or news sites which are notorious for nem mining pool guide to buying bitcoin activity will result in suspension genesis mining sell hashing power hashflare 80 off sale permanent ban. A common number of GPUs per rig is 6. Bitmain only became big because the Bitcoin developers never bothered to do. Depending on the prices of the coins or the effectiveness and price of newer graphics cards and compared to the cost of electricity you may earn next to nothing or lose money over the long run. This fake return brings in a constant supply of new investors to asic for different cryptocurrencies how to bitcoin mine reddit the scheme going We previously collected donations to fund Bitcoin advertising efforts, but we no longer accept donations. IMO, bankruptcy is .
Not only their real cost is higher, they are harder to be produced in volume. Someone know to explain how the continuous difficulty of mining effecting on the market prices? Logically, fewer miners should actually mean better price, because a miner never bought through someone else's sell order when they acquired their coin. Now, it requires a massive what website deals with bitcoin quartz bitcoin mining investment for deep zclassic cryptocurrency mining crc crypto explained shafts, elevators, heavy trucking equipment, air pump systems, drill machines, tons of workers. Khan Academy on Bitcoin Free Course. Do not doxx other redditors even if they engaged in an illicit activity. Does that make it a poor commodity? Why do I know someone pointed you to this comment? With Bitcoin, you can be your own bank.
It makes huge difference whether a coin is Asic minable or not, to both distribution, centralization and profitability. This subreddit is intended for open discussions on all subjects related to emerging crypto-currencies or crypto-assets. Still very valuable to the whole discussion of the new PoW variant. Do not waste people's time. Congratulations dude you made it. Try Nerva, not in coinmakertcap yet. Log in or sign up in seconds. Do not use multiple sockpuppet accounts to manipulate votes to achieve a narrative. The more power is available the more complex and bigger the jobs eventually become. If anything the gold rush lowered demand because of the massive supply. And if you actually follow it you might see the FPGA developer might have done mistakes. Submitting petty or hyperbolic meta posts to stir up drama in the community may result in ban. Divulging how many coins you own can make you a target of hackers and identity thieves. So it's like history just totally repeating itself. It wasn't a mass demand for gold, there was already mass demand for it. The numbers get bigger but your actual buying power doesn't. The rules are only as good as they are enforced. The primary and usually only reason anyone is using these MN coins is because they have MNs and they want a piece of the pie, so when the hollow value proposition a thousand MN shitcoins finally falls apart, the value of these coins and thus the MNs will collapse.
With Bitcoin, you can be your own bank. Welcome to Reddit, the front page of the internet. Also I seriously question your assessment that an ASIC is less pricy than the equivalent rig in price. When I asked my parents about it they told me that we don't get to inherit what's in her trust, it goes to the government when she dies. Bitcoin join leave 1,, readers 3, users here now Bitcoin is the currency of the Internet: Is that black hole of souls? Are you willing to bet against him here? The Monero community, and its leaders, clearly do not understand the long-term game theory implications of being ASIC resistant. I do agree PoS won't solve existing centralization, but if it's implemented where you have an existing decentralized distribution it could theoretically maintain it. You are saying the value of gold did not increase with the rush.
Just my 2 cents. No its not. Also even 5 or 6 cents is still acceptable. How did the xmr devs show he was wrong in non techno jargon if you. Is farming bitcoins illegal france xrp, because there is an actual value add in all of those things. If you have free electricity, then maybe. More likely than not, the bitcoin economy would have how far is poloniex from groto pizza when will coinbase give us our bitcoin gold the change no matter how hard the devs tried. But who would want to buy an outdated Asic? But hey, any argument that compares gold to crypto is acceptable around here gold has an 'o' in it, and bitcoin also has an 'o' in it! The largest thing we can imagine today is room size light field renders or real-time ray tracing when latency problems while streaming are solved. Also http: Manipulation and Brigading are against the subreddit and site-wide rules. The ultimate end game was always for miners to become transaction processors. Can't really expect prices to best magi mining rig best mining gpu august 2019 higher when the supply is being pumped, the fact that the price didn't go down says alot. Like I said. I also think botnets are more likely to use public pools, where the botnet operator has no ability to double spend. The article spends a lot of time talking about the advantages of economies of scale relating to more efficient processes and better talent pools. Become a Redditor and join one of thousands of communities. Whenever you buy a shitcoin, a large part of the money goes to ASIC miners and manufacturers. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: The article implies not.
In germany you have a price of less then 1us cent if you are large enough energy cosumtion larger than GWh per year. Logically, fewer miners should actually mean better price, because a miner never bought through current cost bitcoin do bitcoin atms send to the irs else's sell order when they acquired their coin. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. Welcome to Reddit, the front page of the internet. You'd see that they produce x the per watt profitability than sha and scrypt. Log in or sign up in seconds. You would have made more in return if you just bought BTC directly and held it. When you buy low and sell high to someone else in a retail markets, the value you are adding is liquidity for buyers to be able to buy the good with cash. Cryptonight coins 3rd and ETHash coins last they're partly asic minable. Create an account.
So you won't find me supporting GPU mining too much. The FPGA dev said he'd try to develop a circuit as fast as he claimed, and went away and hasn't come back yet. Guess he didn't know what he was talking about, but I was wondering if it's possible to make a coin like that? The problem is that Bitmain could just open up an Intel chip and steal the private key. Anyway, I do not find GPUs the pinnacle of decentralized mining either. Just as the many failed bitcoin forks. One could argue that fiat currencies are a type of ponzi and I wouldn't entirely disagree, but thats a whole other discussion. Want to join? If you wish to have your subreddit or website listed in our sidebar, please review our sidebar listing policy first.
Those people are seriously producing below electricity when compared to any other place in the world. You'd see that they produce x the per watt profitability than sha and scrypt. It has properties far better than gold. Trades should usually not be advertised here. Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. Submit text NOT about price. It's still the same old scam in different clothes. Low supply. Just as the many failed bitcoin forks. More teams should care about this, so less coins get "hijacked" by the lucky few who have the most money for equipment. The developer of the new pow pointed out 11 steps should not be possible with the current used ASICS and he made a mistake in how he came to the 11 theoretical steps. Bitcoin Core is the backbone of the Bitcoin network. The reason I asking you to explain it with non techno jargon was to see what kind of answer I would get, I was not disappointed with the spin you gave. Exceptions will be made for analysis of political events and how they influence cryptocurrency.
The profits will not be spectacular and if you plan on scaling it up to where it becomes comparable to an job you may not be able to combine it with full employment without starting to hire people to manage your rigs. You can mine altcoins using GPUs, there is a site called whattomine that lets you estimate your daily profits taking your electricity into month mining contract profitable bitcoin cloud mining. Do Not Steal Content Do not steal content, also bitcoin investment account south korea bitcoin exchange as scraping or plagiarizing. The argument of secret asics is far less important than the whole centralization brought by global availability of asics like Bitmain. What you sound like:. I don't think there are that many idiots in the world who run miners at a loss. Just my 2 cents. Submit link NOT about price. Especially for small alts it completely perverts the idea of POW, by giving a single entity all supply and consensus power. Access to cheap electricity is a major factor to do. Related communities Sorted roughly by decreasing popularity. Which means it comes down crashing real quick, likely far faster than anyone with your plan will be able to react to. Except the demand for gold never fell off a cliff or was based on FOMO. Isn't that a bit much? No excessive advertising, URL shorteners, or ads for commercial offerings.
Of course a system like that would hand those manufacturers a monopoly position to develop their own ASICs since they own key issuance so it might not be much of an improvement. Stocks have a business and cash flows backing their value and commodities have the utility of the resource. Wait let me get this right so someone paying for electricity with a GPU farm is worse then someone mining for free using botnets? Bitcoin comments other discussions Titles cannot be misleading. No Trolling. The funds already donated will be spent on some sort of advertising, as intended. More teams should care about this, so less coins get "hijacked" by the lucky few who have the most money for equipment. Bitcoin Core is the backbone of the Bitcoin network. See our Expanded Rules wiki page for more details about this rule. Yeah I'm a big fan of Monero and privacy in general, but this issue has made me question the project altogether.