Top 14 Cryptocurrency Mining Hardware Kit Setups For

Bitcoin Mining Manufacturer Canaan Acquires Proof of Existence

This is an automatic summary, original reduced by 80%.
The first document timestamping service for the Bitcoin blockchain, Proof of Existence, has been acquired by Bitcoin ASIC mining hardware manufacturer Canaan.
Founded in 2013 and headquartered in Beijing, Canaan Creative Co. Ltd produces Bitcoin mining rigs, designs ASIC microprocessors and operates data centers.
Avalon mining rigs were sold and delivered before any other brands of ASIC bitcoin miners, even pre-dating the infamous Butterfly Labs brand, making it the oldest brand of Bitcoin mining equipment still in production today.
Proof of Existence was another historic debut for Bitcoin.
The first of many similar services and protocols to do the task, Aráoz's website uses a special bitcoin transaction that contains the hash in Bitcoin's OP RETURN script, embedding it into the bitcoin blockchain.
Proof of Existence was his first, which led to him working for Bitpay in 2014, where he helped develop the popular Javascript Bitcoin library, Bitcore.
Summary Source | FAQ | Theory | Feedback | Top five keywords: Bitcoin#1 Proof#2 first#3 Canaan#4 service#5
Post found in /Bitcoin, /btc, /CryptoCurrency and /BitcoinAll.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

Russians Design а ‘Beautiful’ Mining Rig - Bitcoin News

Russians Design а ‘Beautiful’ Mining Rig - Bitcoin News submitted by borat2019 to btc [link] [comments]

Bitcoin mentioned around Reddit: Russians Design а ‘Beautiful’ Mining Rig - Bitcoin News /r/CryptoNewsandTalk

Bitcoin mentioned around Reddit: Russians Design а ‘Beautiful’ Mining Rig - Bitcoin News /CryptoNewsandTalk submitted by SimilarAdvantage to BitcoinAll [link] [comments]

Russians Design Beautiful Mining Rig - Bitcoin News

Russians Design Beautiful Mining Rig - Bitcoin News submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Fernhill Corporation Finalizes Design for Bitcoin Mining Rig with Backup Power Supply Systems

submitted by prnewswireadmin to prnewswire [link] [comments]

[POORSHIBE] I will design you a gaming rig or bitcoin mining machine to meet your budget and specifications!

I have years of experience in the industry and I'm a specialist in custom-built high-powered computers at a computer repair shop in MA, USA. Make me an offer, throw me a price range, and I'll compile you a complete and optimized build list that maximizes the power per dollar that you wish to spend on that machine. I'm doing this for fun and some smatterings of DOGE, so don't be afraid to shoot low and have me whip you up a computer for fun. :D
submitted by Troko22 to jobs4dogecoins [link] [comments]

3D Printed Housing for External Vive Wireless Card

Sorry I am not providing details as I want to get this info out quickly. I will respond with info if anyone shows interest, though I might be slow.
I'm not sure if anyone remembers the talk about extending the range of their Vive wireless setups. Basically, you can get a PCIe extender (built for bitcoin mining rigs I believe), and use USB 3 to move your Vive Wireless WiGig card 35 ft (CORRECTION: 20ft) to your computer. I have found that it works great for me.
But you end up with this exposed computer board just sitting there in your room with nothing to keep the board from sliding out of the extender socket and nothing to protect the board while also allowing cooling.
I took enough measurements off of the board to create a 3d model of it that captures the design information needed to create an enclosure.
I also created a 3d printable enclosure that is "good enough".
I haven't posted it because "an artist's work is never done", but if I don't post what I have, I might never post it.
So please let me know if anyone is interested in a model of the card and enclosure. Note that the enclosure is specific to the dimensions of the extender I bought, so minor tweaks might be required if you have a different extender.
Here is a picture of the final result (yes I used tape for my prototype that I never developed further)
I designed it to be modular (see the joiners I left open in the picture, in case a part of the print fails or needs fixing) and also it does not require supports. (Shakes fist at designs that require supports!)
https://imgur.com/a/op35gVL
(I would appreciate advice on how to get the image to show up in this post, I don't do this a lot)
Answers:
Here are the exact two products I bought from Amazon. No guarantees. At the time people were looking into extending the wire from the card to antenna, but my first try didn't work.
Beware, the part that you plug into your pci slot can, incredibly, be put in backwards and still fit. Also there is nothing keeping the extender in the slot.
https://www.amazon.com/gp/product/B07N38Y799/ref=ppx_yo_dt_b_search_asin_title?ie=UTF8&psc=1
https://www.amazon.com/gp/product/B07G93LTVX/ref=ppx_yo_dt_b_asin_title_o00_s01?ie=UTF8&psc=1

I can't find an exact link that I followed for recommendations, but there are tons of hits here: https://www.google.com/search?q=vive+wireless+extension+reddit&oq=vive+wireless+extension+reddit&aqs=chrome..69i57j0.5679j0j7&sourceid=chrome&ie=UTF-8
submitted by OldNeb to Vive [link] [comments]

[USA-IA][H] 5x HD7970, Custom ITX Cases - 678 Cases [W] Paypal

For sale:
2x Power Color HD 7970 - $75 Each
3x Gigabyte HD7970 - $75 Each
Because some people care - This was part of the first mining rig my company ran. They mined Bitcoin directly before Asics were created. After that they sat in a Closet and honestly we just forgot about them. So they have been sitting for quite a while. I couldn't tell you how long.

678 Cases:
The case measures 6.5” tall x 7.5” D x 8.5” W. (Get it? 678….) The entire case is approximately 6.78 Liters. Boasting a unique bolt together design, and an all steel construction with ample airflow it provides excellent heat efficiency. Every 678 Case is industrial powder coated for extreme durability.
If you want the smallest PC possible with a discrete GPU and power supply built in, the 678 case is for you. So join the 678 family today!
Colors: Gloss White, Textured Black, Black/Green
Max component sizes: Motherboard – ITX Form Factor Power supply – Small Form Factor (SFF) required GPU – Length: 183mm / Height: 130mm CPU cooler – Height: 60mm Hard drive – No 2.5” or 3.5” Hard drive mounting is provided – m.2 is recommended External Fans – No external fan locations Water cooling – Not even remotely possible
What is in the box?
Price for white or Black:$100
Green:$80

Stamps: https://photos.app.goo.gl/86xFbgKT42cxoeep9
Glamour Shots Including a video of the parts being cut through the laser: https://photos.app.goo.gl/h7LH5MijTfpg2iUY8
submitted by hartwog to hardwareswap [link] [comments]

Epic Cash AMA Recap with CryptoDiffer Community

CryptoDiffer team Hello, everyone! We are glad to meet here: Max Freeman (@maxfreeman4), Project Lead at Epic Cash Yoga Dude (@Yogadude), PR&Marketing at Epic Cash Xenolink (@Xenolink), Advisor at Epic Cash
Max Freeman Project Lead at Epic Cash Thanks Max, we are excited to be here!
Yoga Dude PR&Marketing at Epic Cash Hello Everyone! Thank you for having us here!
Xenolink Advisor at Epic Cash Thank you to the CryptoDiffer team and CryptoDiffer community for hosting us!
CryptoDiffer team Let`s start from the first introduction question: Q1: Can you introduce yourself to the community? What is your background and how did you join Epic Cash?
Yoga Dude PR&Marketing at Epic Cash
Hello! My background is Marketing and Business Development, I’ve been in crypto since 2011 started with Bitcoin, then Monero in 2014, Ethereum in 2015 and at some point Doge for fun and profit. I joined Epic Cash team in September 2019 handling PR and Marketing.
I saw in Epic Cash what was missing in my previous cryptos — things that were missing in Bitcoin and Monero especially.
Xenolink Advisor at Epic Cash
Hello Cryptodiffer Community, I am not an original co-founder nor am I a developer for the Epic Cash project. I am however a community member that is involved in helping scale this project to higher levels. One of the many beauties of Epic Cash is that every single member in the community has the opportunity to be part of EPIC’s team, it can be from development all the way to content producing. Epic Cash is a community driven project. The true Core Team of Epic Cash is our community. I believe a community that is the Core Team is truly powerful. EPIC Cash has one of the freshest and strongest communities I have seen in quite a while. Which is one of the reasons why I became involved in this project. Epic displayed some of the most self community produced content I have seen in a project. I’m actually a doctor of medicine but in terms of my experience in crypto, I have been involved in the industry since 2012 beginning with mining Litecoin. Since then I have been doing deep dive analysis on different projects, investing, and building a network in crypto that I will utilize to help connect and scale Epic in every way I can. To give some credit to those people in my network that have been a part of helping give Epic exposure, I would like to give a special thanks to u/Tetsugan and u/Saurabhblr. Tetsugan has been doing a lot of work for the Japanese community to penetrate the Japanese market, and Japan has already developed a growing interest in Epic. Daku Sarabh the owner and creator of Crypto Daku Robinhooders, I would like to thank him and his community for giving us one of our first large AMA’s, which he has supported our project early and given us a free AMA. Many more to thank but can’t be disclosed. Also thank you to all the Epic Community leaders, developers, and Content producers!
Max Freeman Project Lead at Epic Cash
I’m Max Freeman, which stands for “Maximum Freedom for Mankind”. I started working on the ideas that would become Epic in 2018. I fell in love with Bitcoin in 2017 but realized that it needs privacy at the base layer, fungibility, better scalability in order to go to the next level.
CryptoDiffer team
Really interesting backgrounds I must admit, pleasure to see the team that clearly has one vision of the project by being completely decentralized:)
Q2: Can you briefly describe what is Epic Cash in 3–5 sentences? What technology stands behind Epic Cash and why it’s better than the existing one?
Max Freeman Project Lead at Epic Cash
I’d like to highlight the differences between Epic and the two highest-valued privacy coin projects, Monero and Zcash. XMR has always-on privacy like Epic does, but at a cost: Its blockchain is over 20x more data intensive than Epic, which limits its possibilities for scalability. Epic’s blockchain is small and light enough to run a full node on cell phones, something that is in our product road map. ZEC by comparison can’t run on low end devices because of its zero knowledge based approach, and only 1% of transactions are fully private. Epic is simply newer, more advanced technology than prior networks thanks to Mimblewimble
We will also add more algorithms to widen the range of hardware that can participate in mining. For example, cell phones and tablets based around ARM chips. Millions of people can mine Epic that can’t mine Bitcoin, and that will help grow the network rapidly.
There are some great short videos on our YouTube channel https://www.youtube.com/channel/UCQBFfksJlM97rgrplLRwNUg/videos
that explain why we believe we have created something truly special here.
Our core architecture derives from Grin, so we are fortunate to benefit on an ongoing basis from their considerable development efforts. We are focused on making our currency truly usable and widely available, beyond a store of value and becoming a true medium of exchange.
Yoga Dude PR&Marketing at Epic Cash
Well we all have our views, but in a nutshell, we offer things that were missing in the previous cryptos. We have sound fiscal emission schedule matching Bitcoin, but we are vastly more private and faster. Our blockchain is lighter than Bitcoin or Monero and our tech is more scalable. Also, we are unique in that we are mineable with CPUs and GPUs as well as ASICs, giving the broadest population the ability to mine Epic Cash. Plus, you can’t forget FUNGIBILITY 🙂 we are big on that — since you can’t have true privacy without fungibility.
Also, please understand, we have HUGE respect to all the cryptos that came before us, we learned a lot from them, and thanks to their mistakes we evolved.
Xenolink Advisor at Epic Cash
To add on, what also makes Epic Cash unique is the ability to decentralize the mining using a tri-algo model of Random X (CPU), Progpow (GPU), and Cuckoo (ASIC) for an ability to do hybrid mining. I believe this is an issue we can see today in Bitcoin having centralized mining and the average user has a costly barrier of entry.
To follow up on this one in my opinion one of the things we adopted that we have seen success for , in example Bitcoin and Monero, is a strong community driven coin. I believe having a community driven coin will provide a more organic atmosphere especially when starting with No ICO, or Premine with a fair distribution model for everyone.
CryptoDiffer team
Q3: What are the major milestones Epic Cash has achieved so far? Maybe you can share with us some exciting plans for future weeks/months?
Yoga Dude PR&Marketing at Epic Cash
Since we went live in September of 2019, we attracted a very large community of users, miners, investors and contributors from across the world. Epic Cash is a very international project with white papers translated into over 30 languages. We are very much a community driven project; this is very evident from our content and the amount of translations in our white papers and in our social media content.
We are constantly working on improving our usability, security and privacy, as well as getting our message and philosophy out into the world to achieve mass adoption. We have a lot of exciting plans for our project, the plan is to make Epic Cash into something that is More than Money.
You can tell I am the Marketing guy since my message is less about the actual tech and more about the usability and use cases for Epic Cash, I think our Team and Community have a great mix of technical, practical, social and fiscal experiences. Since we opened our YouTube channels content for community submissions, we have seen our content translated into Spanish, French, German, Polish, Chinese, Japanese, Arabic, Russian, and other languages
Max Freeman Project Lead at Epic Cash
Our future development roadmap will be published soon and includes 4 tracks:
Usability
Mining
Core Protocol
Ecosystem Development
Core Protocol
Epic Server 2.9.0 — this release improves the difficulty adjustment and is aimed at making block emission closer to the target 60 seconds, particularly reducing the incidence of extremely short and long blocks — Status: In Development (Testing) Anticipated Release: June 2020
Epic Server 3.0.0 — this completes the rebase to Grin 3.0.0 and serves as the prerequisite to some important functional building blocks for the future of the ecosystem. Specifically, sending via Tor (which eliminates the need to open ports), proof of payment (useful for certain dex applications e.g. Bisq), and our native mobile app. Status: In Development (Testing) Anticipated Release: Fall 2020
Non-Interactive Transactions — this will enhance usability by enabling “fire and forget” send-to-address functionality that users are accustomed to from most cryptocurrencies. Status: Drawing Board Anticipated Release: n/a
Scaling Options — when blocks start becoming full, how will we increase capacity? Two obvious options are increasing the block size, as well as a Lightning Network-style Layer 2 structure. Status: Drawing Board Anticipated Release: n/a
Confidential Assets — Similar to Raven, Tari, and Beam, the ability to create independently tradable assets that ride on the Epic Blockchain. Status: Drawing Board Anticipated Release: n/a
Usability
GUI Wallet 2.0 — Restore from seed words and various usability enhancements — Status: Needs Assessment Anticipated Release: Fall 2020
Mobile App — Native mobile experience for iOS and Android. Status: In Development (Testing) Anticipated Release: Winter 2020
Telegram Integration — Anonymous payments over the Telegram network, bot functionality for groups. Status: Drawing Board Anticipated Release: n/a
Mining
RandomX on ARM — Our 4th PoW algorithm, this will enable tablets, cell phones, and low power devices such as Raspberry Pi to participate in mining. Status: Needs Assessment Anticipated Release: n/a
The economics of mining Epic are extremely compelling for countries that have free or extremely cheap electricity, since anyone with an ordinary PC can mine. Individual people around the world can simply run the miner and earn meaningful money (imagine Venezuela for example), something that has not been possible since the very early days of Bitcoin.
Ecosystem Development
Atomic Swaps — Connecting Epic to other blockchains in a trustless way, starting with ETH so that Epic can trade on DeFi infrastructure such as Uniswap, Kyber, etc. Status: Drawing Board Anticipated Release: n/a
Xenolink Advisor at Epic Cash
From the Community aspect, we have been further developing our community international reach. We have been seeing an increase in interest from South America, China, Russia, Japan, Italy, and the Philippines. We are working on targeting more countries. We truly aim to be a decentralized project that is open to everyone worldwide.
CryptoDiffer team
Great, thank you for your answers, we now can move to community questions part!
Cryptodiffer Community
You have 3 mining algorithms, the question is: how do they not compete with each other? Is there any benefit of mining on the GPU and CPU if someone is mining on the ASIC?
Max Freeman Project Lead at Epic Cash
The block selection is deterministic, so that every 100 blocks, 60% are for RandomX (CPU), 38% for ProgPow (GPU), and 2% for Cuckoo (ASIC) — the policy is flexible so that we can have as many algorithms with any percentages we want. The goal is to make the most decentralized and resilient network possible, and with that in mind we are excited to work on enabling tablets and cell phones to mine, since that opens it up to millions of people that otherwise can’t take part.
Cryptodiffer Community
To Run a project smoothly, Funding is very important, From where does the Funding/revenue come from?
Xenolink Advisor at Epic Cash
Yes, early on this was realized and in order to scale a project funds are indeed needed. Epic Cash did not start with any funding and no ICO and was organically genesis mined with no pre-mine. Epic cash is also a nonprofit community driven project similar to Monero. There is no profit-driven entity in the picture. To overcome the revenue issue Epic Cash setup a development fund tax that decreases 1% every year until 2028 when Epic Cash reaches singularity with Bitcoin emissions. Currently it is at 7.77%. This will help support the scaling of the project.
Cryptodiffer Community
Hi! In your experience working also with MONERO can you please clarify which are those identified problems that EPIC CASH aims to develop and resolve? What’s the main advantage that EPIC CASH has over MONERO? Thank you!
Yoga Dude PR&Marketing at Epic Cash
First, I must admit that I am still a huge fan and HODLer of Monero. That said:
✅ our blockchain is MUCH lighter than Monero’s
✅ our transaction processing speed is much faster
✅ our address-less blockchain is more private
✅ Epic Cash can be mined with CPU (RandomX) GPU (ProgPow) and Cuckoo, whereas Monero migrated to RandomX and currently only mineable with CPU
Cryptodiffer Community
  1. the feature ‘Cut Through’ deletes old data, how is it decided which data will be deletes, and what are the consequences of it for the platform and therefore the users?
  2. On your website I see links to download Epic wallet and mining software for Linux,Windows and MacOs, I am a user of android, is there a version for me, or does it have a release date?
Max Freeman Project Lead at Epic Cash
  1. This is one of the most exciting features of Mimblewimble, which is its extraordinary ability to compress blockchain data. In Bitcoin, the entire history of a coin must be replayed every time it is spent, and comprehensive details are permanently stored in the blockchain. Epic discards spent transaction inputs and consolidates outputs, storing neither addresses or amounts, only a tiny kernel to allow sender and receiver to prove their transaction.
  2. The Vitex mobile app is great for today, and we have a native mobile app for iOS and Android in the works as well.
Cryptodiffer Community
$EPIC Have total Supply of 21,000,000 EPIC , is there any burning plan? Or Buyback program to maintain $EPIC price in the future?
Who is Epic Biggest competitors?
And what’s makes epic better than competitors?
Xenolink Advisor at Epic Cash
We respect the older generation coins like Bitcoin. But we have learned that the supply economics of Bitcoin is very sound. Until today we can witness how the Bitcoin is being adopted institutionally and by retail. We match the 21 million BTC supply economics because it is an inelastic fixed model which makes the long-term economics very sound. To have an elastic model of burning tokens or printing tokens will not have a solid economic future. Take for example the USD which is an inflating supply. In terms of competitors we look at everyone in crypto with respect and also learn from everyone. If we had to compare to other Mimblewimble tech coins, Grin is an inelastic forever inflating supply which in the long term is not sound economics. Beam however is an inelastic model but is formed as a corporation. The fair distribution is not there because of the permanent revenue model setup for them. Epic Cash a non-profit development tax fund model for scaling purposes that will disappear by 2028’s singularity.
Cryptodiffer Community
What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships?
Yoga Dude PR&Marketing at Epic Cash
Since we are a community project, we have many developers, in addition to the core team.
Our plans for Global expansion are simple — we have advocates in different regions addressing their audiences in their native languages. We are growing organically, by explaining our ideology and usability. The idea is to grow beyond needing a fiat bridge for crypto use, but to rather replace fiat with our borderless, private and fungible crypto so people can use it to get goods and services without using banks.
We are not limiting ourselves to one particular demographic — Epic Cash is a valid solution for the gamers, investors, techie and non techie people, and the unbanked.
Cryptodiffer Community
EPIC confidential coin! Did you have any problems with the regulators? And there will be no problems with listing on centralized exchanges?
Xenolink Advisor at Epic Cash
In terms of structure, we are carefully set up to minimize these concerns. Without a company or investors in the picture, and having raised no funds, there is little scope to attack in terms of securities laws. Bitcoin and Ethereum are widely acknowledged as acceptable, and we follow in their well-established footprints in that respect. Centralized exchanges already trade other privacy coins, so we don’t see this as much of an issue either. In general, decentralized p2p exchange options are more interesting than today’s centralized platforms. They are more censorship resistant, secure, and privacy-protecting. As the technology gets better, they should continue to gain market share and that’s why we’re proud to be partnered with Vitex, whose exchange and mobile app work very well.
Cryptodiffer Community
What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment?
Max Freeman Project Lead at Epic Cash
Because our blockchain is so light (only 1.16gb currently, and grows very slowly) it is naturally well suited to become a decentralized mobile money standard because people can run a full node on their phone, guaranteeing the security of their funds. Scalability in Bitcoin requires complicated and compromised workarounds such as Lightning Network and light clients, and these problems are solved in Epic.
With our forthcoming Mobile Mining app, hundreds of millions of cell phones and tablets will be able to easily join the network. People can quickly and cheaply send money to one another, fulfilling the long-envisioned promise of P2P electronic cash.
As an investor, it’s important to ask a few key questions. Bitcoin Standard tokenomics of disinflation and a fixed supply are well proven over a decade now. We follow this model exactly, with a permanently synchronized supply from 2028, and 4 emission halvings from now until then, with our first one in about two weeks. Beyond that, we can apply some simple logical tests. What is more valuable, money that can only be used in some cases (censorable Bitcoin based on a lack of fungibility) or money that can be used universally? (fungible Epic based on always-on privacy by default). Epic is also poised to be a more decentralized and therefore resilient network because of wider participation in mining. Epic is designed to be Bitcoin++ Privacy, Fungibility, Scalability
Cryptodiffer Community
Q1. What are advantages for choosing three mining algorithms RandomX+, ProgPow and CuckAToo31+ ?
Q2. Beam and Grin use MimbleWimble protocol, so what are difference for Epic? All of you will be friends for partners or competitors?
Max Freeman Project Lead at Epic Cash
RandomX and ProgPow are designed to use the entirety of a CPU / GPU’s unique processing capabilities in a way that other types of hardware don’t work as well. You can run RandomX on a GPU but it doesn’t work nearly as well as a much cheaper CPU, for example. Cuckoo is a “memory hard” algorithm that widens the range of companies that can produce the hardware.
Grin and Beam are great projects and we’ve learned a lot from them. We inherited our first codebase from Grin’s excellent Rust design, which is a better language for community participation than C++ that Beam currently uses.
Functionally, Mimblewimble is similar across the 3 coins, with standard Confidential Transactions, CoinJoin, Dandelion++, Schnorr Signatures and other advanced features. Grin is primarily ASIC-targeted, Beam is GPU-targeted, and Epic is multi-hardware.
The biggest differences though are in tokenomics and project structure. Grin has permanent inflation of 60 coins per block with no halvings, which means steady erosion of value over time due to new supply pressure. It also lacks a steady funding model, making future development in jeopardy, particularly as the per coin price falls. Beam has a for-profit model with heavy early inflation and a high developer tax. Epic builds on the strengths of these earlier mimblewimble projects and addresses the parts that could be improved.
Cryptodiffer Community Some privacy coin has scalability issues! How Epic cash will solve scalability issues? Why you choose randomX consensus algorithem?
Xenolink Advisor at Epic Cash
Fungibility means that you can’t distinguish one unit of currency from another, in example Gold. Fungibility has recently become a hot issue as people have been noticing Bitcoins being locked up by exchanges which may of had a nefarious history which are called Tainted Coins. In example coins that have been involved in a hack, darknet market transactions, or even processing coin through a mixer. Today we can already see freshly mined Bitcoins being sold at a premium price to avoid the fungibility problem Bitcoin carries today. Bitcoin can be tracked by chainalysis and is not a fungible cryptocurrency. One of the features that Epic has is privacy with added fungibility, because of Mimblewimble technology, Epic has no addresses recorded and therefore nothing can be tracked by chainalysis. Below I provide a link of an example of what the lack of fungibility is resulting in today with Bitcoin. One of the reasons why we chose the Random X algo. is because of the easy barrier of entry and also to further decentralize the mining. Random X algo can be mined on old computers or laptops. We also have 2 other algos Progpow (GPU), and Cuckoo (ASIC) to create a wider decentralization of mining methods for Epic.
Cryptodiffer Community
I’m a newbie in crypto and blockchain so how will Epic Cash team target and educate people who don’t know about blockchain and crypto?
What is the uniqueness of Epic Cash that cannot be found in other project that´s been released so far ?
Yoga Dude Pr&Marketing at Epic Cash
Actually, while we have our white paper translated into over 30 languages, we are more focused on explaining our uses and advantages rather than cold specs. Our tech is solid, but we not get hung up on pure tech talk which most casual users do not need to or care to understand. As long as our fundamentals and tech are secure and user friendly our primary goal is to educate about use cases and market potential.
The uniqueness of Epic Cash is its amalgamation of “whats good” in other cryptos. We use Mimblewimble for privacy and anonymity. Our blockchain is much lighter than our competitors. We are the only Mimblewimble crypto to use a unique cocktail of mining algorithms allowing to be mined by casual miners with gaming rigs and laptops, while remaining friendly to GPU and CPU farmers.
The “uniqueness” is learning from the mistakes of those who came before us, we evolved and learned, which is why our privacy is better, we are faster, we are fungible, we offer diverse mining and so on. We are the best blend — thats powerful and unique
Cryptodiffer Community
Can you share EPIC’s vision for decentralized finance (DEFI)? What features do EPIC have to support DEFI?
Yoga Dude PR&Marketing at Epic Cash
We view Epic as ideally suited to be the decentralized digital reserve asset of the new Private Internet of Money that’s emerging. At a technology level, atomic swaps can be created to build liquidity bridges so that wrapped Epic tokens (like WBTC, WETH) can trade on other networks as ERC20, BEP2, NEP5, VIP180, Algorand and so on. There is more Bitcoin value locked on Ethereum than in Lightning Network, so we will similarly integrate Epic so that it can trade on networks such as Uniswap, Kyber, and so on.
Longer term, if there is market demand for it, thanks to Scriptless Script functionality our blockchain has, we can build “Confidential Assets” (which Raven, Tari, and Beam are all also working on) that enable people to create tokenized assets in a private way.
Cryptodiffer Community
If you could choose one celebrity to promote Epic-cash, who that would be?
Max Freeman Project Lead at Epic Cash
I am a firm believer that the strength of the project lies in allowing community members to become their own celebrities, if their content is good enough the community will propel them to celebrity status. Organic celebrities with small but loyal following are vastly more beneficial than big name professional shills with inflated but non caring audiences.
I remember the early days of Apple when an enthusiastic dude named Guy Kawasaki became Apple Evangelist, he was literally going around stores that sold Apple and visited user groups and Evangelized his belief in Apple. This guy became a Legend and helped Apple become what it is today.
Epic Cash will have its OWN Celebrities
Cryptodiffer Community
How does $EPIC solve scalability of transactions? Current blockchains face issues with scalability a lot, how does $EPIC creates a solution to it?
Xenolink Advisor at Epic Cash
Epic Cash is utilizing Mimblewimble technology. Besides the privacy & fungibility aspect of the tech. There is the scalability features of it. It is implemented into Epic by transaction cut-through. Which means it allows nodes to remove all intermediate transactions, thus significantly reducing the blockchain size without affecting its validation. Mimblewimble also does not use addresses like a BTC address, and amount of transactions are also not recorded. One problem Monero and Bitcoin are facing now is scalability. It is evident today that data is getting more expensive and that will be a problem in the long run for those coins. Epic is 90% lighter and more scalable compared to Monero and Bitcoin.
Cryptodiffer Community
what are the ways that Epic Cash generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ?
Max Freeman Project Lead at Epic Cash
There is a block subsidy of 7.77% that declines 1.11% per year until 0, where it stays after that. As a nonprofit community effort, this extremely modest amount goes much further than in other projects, which often take 20, 30, even 50+ % of the coin supply. We believe that this ongoing funding model best aligns the long term incentives for all participants and balances the compromises between the ends of the centralized/decentralized spectrum of choices that any project must make.
Cryptodiffer Community
Q1 : What are your major goals to archive in the next 3–4 years?
Q2 : What are your plans to expand and gain more adoption?
Yoga Dude Pr&Marketing at Epic Cash
Max already talked about our technical plans and goals in his roadmap. Allow me to talk more about the non technical 😁
We are aiming for broader reach in the non technical more mainstream community — this is a big challenge but we believe it is doable. By offering simpler ways to mine Epic Cash (with smart phones for example), and by doing more education we will achieve the holy grail of crypto — moving past the fiat bridges and getting Epic Cash to be accepted as means of payment for goods and services. We will accomplish this by working with regional advocacy groups, community interaction, off-line promotional activities and diverse social media targeting.
Cryptodiffer Community
It seems to me that EpicCash will have its first Halving, right? Why a halving so soon?
Is a mobile version feasible?
Max Freeman Project Lead at Epic Cash
Our supply emission catches up to that of Bitcoin’s first 19 years after 8 years in Epic, so that requires more frequent halvings. Today’s block emission is 16, next up are 8, 4, 2, and then finally 0.15625. After that, the supply of Epic and that of BTC stay synchronized until maxing out at 21m coins in 2140.
Today we have a mobile wallet through the Vitex app, a native mobile wallet coming, and are working on mobile mining.
Cryptodiffer Community
What markets will you add after that?
Yoga Dude PR&Marketing at Epic Cash
Well, we are aiming to have ALL markets
Epic Cash in its final iteration will be usable by everyone everywhere regardless of their technical expertise. We are not limiting ourselves to the technocrats, one of our main goals is to help the billions of unbanked. We want everyone to be able to mine, buy, and most of all USE Epic Cash — gamers, farmers, soccer moms, students, retirees, everyone really — even bankers (well once we defeat the banking industry)
We will continue building on the multilingual diversity of our global community adding support and advocacy groups in more countries in more languages.
Epic Cash is More than Money and its for Everyone.
Cryptodiffer Community
Almost, all cryptocurrencies are decentralized & no-one knows who owns that cryptocurrencies ! then also, why Privacy is needed? hats the advantages of Private coins?
Max Freeman Project Lead at Epic Cash
With a public transparent blockchain such as Bitcoin, you are permanently posting a detailed history of your money movements open for anyone to see (not just legitimate authorities, either!) — It would be considered crazy to post your credit card or bank statements to Twitter, but that’s what is happening every time you send a transaction that is not private. This excellent video from community contributor Spencer Lambert https://www.youtube.com/watch?v=0blbfmvCq\_4 explains better than I can.
Privacy is not just for criminals, it’s for everyone. Do you want your landlord to increase the rent when he sees that you get a raise? Your insurance company to raise your healthcare costs because they see you buying too much ice cream? If you’re a business, do you want your employees to see how much money their coworkers make? Do you want your competitors to trace your supplier and customer relationships? Of course not. By privacy being default for everyone, cryptocurrency can be used in a much wider range of situations without unacceptable compromises.
Cryptodiffer Community
What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment?
Xenolink Advisor at Epic Cash
Epic Cash can be used as a Private and Fungible store of value, medium of exchange, and unit of account. As Epic Cash grows and becomes adopted it can be compared to how Bitcoin and Monero is used and adopted as well. As Epic is adopted by the masses, it can be accepted as a medium of exchange for store owners and as fungible payments without the worry of having money that is tainted. Epic Cash as a store of value may be a good long term aspect of investment to consider. Epic Cash carries an inelastic fixed supply economic model of 21 million coins. There will be 5 halvings which this month of June will be our first halving of epic. From a block reward of 16 Epic reduced to 8. If we look at BTC’s price action and history of their halvings it has been proven and show that there has been an increase in value due to the scarcity and from halvings a reduction of # of BTC’s mined per block. An inelastic supply model like Bitcoin provides proof of the circulating supply compared to the total supply by the history of it’s Price action which is evident in long term charts since the birth of Bitcoin. EPIC Plans to have 5 halvings before the year 2028 to match the emissions of Bitcoin which we call the singularity event. Below is a chart displaying our halvings model approaching singularity. Once bitcoin and cryptocurrency becomes adopted mainstream, the fungibility problem will be more noticed by the general public. Privacy coins and the features of fungibility/scalability will most likely be sought over. Right now a majority of people believe that all cryptocurrency is fungible. However, that is not true. We can already see Chainalysis confirming that they can trace and track and even for other well-known privacy coins today such as Z-Cash.
Cryptodiffer Community
  1. You aim to reach support from a global community, what are your plans to get spanish speakers involved into Epic Cash? And emerging markets like the african
  2. How am I secure I won’t be affected by receiving tainted money?
Max Freeman Project Lead at Epic Cash
Native speakers from our community are working to raise awareness in key markets such as mining in Argentina and Venezuela for Spanish (Roberto Navarro called Epic “the holy grail of cryptocurrency” and Ethiopia and certain North African countries that have the lowest electricity costs in the world. Remittances between USA and Latin American countries are expensive and slow, so Epic is also perfect for people to send money back home as well.
Cryptodiffer Community
Do EPICs in 2020 focus more on research and coding, or on sales and implementation?
Yoga Dude PR&Marketing at Epic Cash
We will definitely continue to work on research and coding, with emphasis on improved accessibility (especially via smartphones) usability, security and privacy.
In terms of financial infrastructure will continuing to add exchanges both KYC and non KYC.
Big part of our plans is in ongoing Marketing and PR outreach. The idea is to make Epic Cash a viral sensation of sorts. If we can get Epic Cash adopters to spread the word and tell their family, coworkers and friends about Epic Cash — there will be no stopping us and to help that happen we have a growing army of content creators, and supporters.
Everyone with skin in the game gets the benefit of advancing the cause.
Folks also, this isn’t an answer to the question but an example of a real-world Epic Cash content —
https://www.youtube.com/watch?v=XtAVEqKGgqY
a challenge from one of our content creators to beat his 21 pull ups and get 100 epics! This has not been claimed yet — people need to step up 🙂 and to help that I will match another 100 Epic Cash to the first person to beat this
Cryptodiffer Community
I was watching some videos explaining how to send and receive transactions in EpicCash, which consists of ports and sending links, my question is why this is so, which, for now, looks complex?
Let’s talk about the economic model, can EpicCash comply with the concept of value reserve?
Max Freeman Project Lead at Epic Cash
In V3, which is coming later this summer, Epic can be sent over Tor, which eliminates this issue of port opening, even though using tools like ngrok.io, it’s not necessarily as painful as directly configuring the router ports. Early Lightning Network had this issue as well and it’s something we have a plan to address via research into non-interactive transactions. “Fire and Forget” payments to an address, as people are used to in Bitcoin, is coming to Epic and we’re excited to develop functionality that other advanced mimblewimble coins don’t yet have. We are committed to constant improvement in usability and utility, to make our money system the ease of use leader.
We are involved in the project (anyone can join the Freeman Family) because we believe that simply by choosing to use a form of money that better aligns with our ideals, that we can make a positive change in the world. Some of my thoughts about how I got involved are here: https://medium.com/epic-cash/the-freeman-family-e3b9c3b3f166
Max Freeman Project Lead at Epic Cash
Huge thanks to our friends Maks and Vladyslav, we welcome everyone to come say hi at one of our friendly communities. It is extremely early in this journey, our market cap is only 0.5m right now, whereas the 3 other mimblewimble coins are at $20m, $30m and $100m respectively. Epic is a historic opportunity to follow in the footsteps of legends such as Bitcoin and Monero, and we hope to become the first Top 5 privacy coin project.
Xenolink Advisor at Epic Cash
Would like to Thank the Cryptodiffer Team and the Cryptodiffer community for hosting us and also engaging with us to learn more about Epic. If anyone else has more questions and wants to know more about EPIC , can find us at our telegram channel at https://t.me/EpicCash .
Yoga Dude Pr&Marketing at Epic Cash
Thank you, CryptoDiffer Team, and this wonderful Community!!!
Cryptodiffer TEAM
Thank you everyone for taking your time and asking great questions
Thank you for your time, it was an insightful session
Spread the love
submitted by EpicCashFrodo to epiccash [link] [comments]

The Truth about Bitcoin?

Part 1/4 - NSA Connection:
First off, the SHA-256 algorithm, which stands for Secure Hash Algorithm 256, is a member of the SHA-2 cryptographic hash functions designed by the NSA and first published in 2001.
SHA-256, like other hash functions, takes any input and produces an output (often called a hash) of fixed length. The output of a hashing algorithm such as SHA-256 will always be the same length - regardless of the input size. Specifically, the output is, as the name suggests, 256 bits.
Moreover, all outputs appear completely random and offer no information about the input that created it.
The Bitcoin Network utilises the SHA-256 algorithm for mining and the creation of new addresses.
Who is Satoshi Nakamoto? What does Satoshi Nakamoto mean?
Out of respect for their anonymity, it would be rude to speculate in a video about who Satoshi Nakamoto is likely to be. The reality is, it's not important. Let me explain: Any human being can be attacked. Jesus could come back from the dead, and there would be haters. Therefore, the Satoshi Nakamoto approach neutralises the natural human herd behaviour, exacerbated by the media, to attack and discredit. This is a very important part of Bitcoin's success thus far. Also, from a security perspective, those who wish to dox Satoshi Nakamoto in a video are essentially putting his, or her, or their, life at risk...for the sake of views.
As a genius who has produced an innovation not just from a technical perspective but also a monetary perspective, they should be treated with more respect than that.
As for the name Satoshi Nakamoto, I would speculate that it is a homage to Tatsuaki Okamoto and Satoshi Obana - two cryptographers from Japan. There is another reason for the name, but that...is confidential.
In 1996, the NSA's Cryptology Division of their Office of Information Security Research and Technology published a paper titled: "How to make a mint: The cryptography of anonymous electronic cash", first publishing it in an MIT mailing list and later, in 1997, in the American University Law Review. One of the researchers they referenced was Tatsuaki Okamoto.

Part 2/4 - 'Crypto Market':
Most of the crypto market is a scam.
By the way, this was predicted very early on in the Bitcoin Talk forums - check out this interaction from November 8th, 2010:
"if bitcoin really takes off I can see lots of get-rich-quick imitators coming on the scene: gitcoin, nitcoin, witcoin, titcoin, shitcoin...
Of course the cheap imitators will disappear as quickly as those 1990s "internet currencies", but lots of people will get burned along the way."
To which Bitcoin OG Gavin Andresen replies:
"I agree - we're in the Wild West days of open-source currency. I expect people will get burned by scams, imitators, ponzi schemes and price bubbles."
"I don't think there's a whole lot that can be done about scammers, imitators and ponzi schemes besides warning people to be careful with their money (whether dollars, euros or bitcoins)."
Now, on the one hand, lack of regulation is more meritocratic (as you don't have to be an accredited investor just to get access).
On the other hand, it means that crypto is, as Gavin said, a Wild West environment, with many cowboys in the Desert. Be careful.
This is the same with most online courses - particularly 'How to get rich quick' courses - however with crypto you have an exponential increase in the supply of victims during the bull cycles so it is particularly prevalent during those times.
In addition to this, leverage trading exchanges, which are no different to casinos, prey on naive retail traders who:
A) Think they can outsmart professional traders with actual risk management skills; and
B) Think they can outsmart the exchanges themselves who have an informational advantage as well as an incentive to chase stop losses and liquidate positions.

Part 3/4 - CBDCs:
The Fed and Central Banks around the world have printed themselves into a corner.
Quantitative easing was the band-aid for the Great Financial Crisis in 2008, and more recent events have propelled the rate of money printing to absurd levels.
This means that all currencies are in a race to zero - and it becomes a game of who can print more fiat faster.
The powers that be know that this fiat frenzy is unsustainable, and that more and more people are becoming aware that it is a debt based system, based on nothing.
The monetary system devised by bankers, for bankers, in 1913 on Jekyll Island and supercharged in 1971 is fairly archaic and also does not allow for meritocratic value transfer - fiat printing itself increases inequality.
They, obviously, know this (as it is by design).
The issue (for them) is that more and more people are starting to become aware of this.
Moving to a modernised monetary system will allow those who have rigged the rules of the game for the last Century to get away scot-free.
It will also pave the way for a new wealthy, and more tech literate, elite to emerge - again predicted in the Bitcoin Talk forums.
Now...back to the powers that be.
Bitcoin provides a natural transition to Central Bank Digital Currencies (CBDCs) and what I would describe as Finance 2.0, but what are the benefits of CBDCs for the state?
More control, easier tax collection, more flexibility in monetary policy (i.e. negative interest rates) and generally a more efficient monetary system.
This leads us to the kicker: which is the war on cash. The cashless society was a fantasy just a few years ago, however now it doesn't seem so far fetched. No comment.

Part 4/4 - Bitcoin:
What about Bitcoin?
Well, Bitcoin has incredibly strong network effects; it is the most powerful computer network in the World.
But what about Bitcoin's reputation?
Bankers hate it.
Warren Buffett hates it.
Precisely, and the public hates bankers.
Sure, the investing public respects Buffett, but the general public perception of anyone worth $73 billion is not exactly at all time highs right now amid record wealth inequality.
In the grand scheme of things, the market cap of Bitcoin is currently around $179 billion.
For example, the market cap of Gold is around $9 trillion, which is 50x the Market Cap of Bitcoin.
Money has certain characteristics.
In my opinion, what makes Bitcoin unique is the fact that it has a finite total supply (21 million) and a predictable supply schedule via the halving events every 4 years, which cut in half the rate at which new Bitcoin is released into circulation.
Clearly, with these properties, it seems likely that Bitcoin could act as a meaningful hedge against inflation.
One of the key strengths of Bitcoin is the fact that the Network is decentralised...
Many people don't know that PayPal originally wanted to create a global currency similar to crypto.
Overall, a speculative thesis would be the following:
Satoshi Nakamoto is one of the most important entities of the 21st Century, and will accelerate the next transition of the human race.
Trusted third parties are security holes.
Bitcoin is the catalyst for Finance 2.0, whereby value transfer is conducted in a more meritocratic and decentralised fashion.
In 1964, Russian astrophysicist Nikolai Kardashev designed the Kardashev Scale.
At the time, he was looking for signs of extraterrestrial life within cosmic signals.
The Scale has three categories, which are based on the amount of usable energy a civilisation has at its disposal, and the degree of space colonisation.
Generally, a Type 1 Civilisation has achieved mastery of its home planet (10^16W);
A Type 2 Civilisation has mastery over its solar system (10^26W);
and a Type 3 Civilisation has mastery over its Galaxy (10^36W).
We humans are a Type 0 Civilisation on this Scale.
Nonetheless, our exponential technological growth in the few decades indicates that we are somewhere between Type 0 and Type 1.
In fact, according to Carl Sagan's interpolated Kardashev Scale and recent global energy consumption, we are about 0.73.
Physicist Freeman Dyson estimated that within 200 years or so, we should attain Type 1 status.
As a technology that, through its decentralisation, links entities globally and makes value transfer between humans more efficient, Bitcoin could prove a key piece of our progression as a civilisation.
What are your thoughts?
Is it true...or false?
https://www.youtube.com/watch?v=1oQLOqpP1ZM
submitted by financeoptimum to conspiracy [link] [comments]

Delegated Proof Of Stake

While there are a number of consensus algorithms that most functional cryptocurrency platforms have adopted over the years, a couple of these algorithms have become more popular than the others.
While the proof of work (PoW) algorithm has been identified to be the very first consensus mechanism integrated into a crypto platform, the proof of stake (PoS) and the delegated proof of stake (DPoS) are two other mechanisms that have been designed as an alternative to PoW. The first move advantage PoW had in the market has not withstood criticism and adjustments to optimize the protocol.
Generally, the PoW system requires users to make use of advanced mining rigs and hardware which will require large computational power. The PoS and the DPoS algorithms unlike PoW requires fewer resources and by design happens to be more eco-friendly and sustainable.
For us to get an idea of how the delegated proof of stake works, it is only right that we have a knowledge of what the PoW and the PoS consensus mechanisms are and how they function.
Proof Of Work
This is the first consensus algorithm to be integrated into a blockchain network. It was used as a way to ensure that the majority of the users on the Bitcoin network did not take total control of the network. It was used on the Bitcoin network to validate transactions and for users to validate these transactions, they have to make use of advanced and expensive hardware mining rigs.
With the high expenses associated with the PoW mining model, many people are restricted from entering the mining pools with any form of efficiency. Thus, power can become concentrated on a PoW network, one of the main concerns for users of the original networks operating with PoW.
This consensus algorithm will require users to solve complex mathematical problems if they are to compete and validate transactions on the network. These mathematical puzzles have been made to be as difficult as possible. This is to ensure that miners do not easily find these blocks.
Proof Of Stake
This consensus algorithm was designed to be an alternative to proof of work and the restrictions the PoW model put on user’s ability to be miners. Proof of Stake was discovered in 2012 after most platform developers sought for alternative consensus algorithms that can be used. Unlike the PoW, the proof of stake algorithm requires that miners on the network stake or have their coins locked.
To explain better, for miners who want to mine on the network, they will have to stake a certain amount of coins if they are to successfully mine. This simply means that if a miner owns about 5% of the total coins on a network, then that user would then have the right to mine 5% of all transactions that are carried out on the network. Thus, creating an incentive for users to hold coins instead of the incentive many miners had in the proof of work model to sell their coins to the market quickly after mining them or in more malicious cases, try to attack a weaker proof of work network with a 51% attack.
Delegated Proof Of Stake
The Delegated Proof of Stake (DPoS) algorithm was launched in 2014 by Daniel Larimer, a more renown developer within the world of cryptocurrency. He helped pioneer this new model of validation for blockchain technologies. Today, there are a number of crypto platforms that make use of this consensus algorithm and they include Steem, Ark, Bitshares, Lisk, and many other networks today.
DPoS based blockchain networks work in a voting manner where stakeholders on the network will have to outsource their duties to third-parties. It can be said that these stakeholders are able to vote for a few people to help them manage the security of the network. On any of the DPoS based crypto networks, these individuals that are voted to maintain the security of the network for others are referred to as delegates, while those voted to validate transactions on these networks are called "witnesses".
A closer look at this consensus algorithm will point to a resemblance to the PoS algorithms. For example, on any of the DPoS based algorithms, the vote count and worth of each of the users will be determined by the number of coins they have in their possession. While the voting system may vary from one blockchain network to another, one thing is certain - each of the delegates or individuals to be voted for will have to present to others on the network a proposal of what they will accomplish when voted in as either delegates or witnesses. Most of the time, the rewards that are gotten from the validation of blocks by these witnesses are shared proportionally with the various electors. This is just like the PoS except that there is no voting system and that each user will have to represent himself.
DPoS based blockchain networks have their voting systems based on the reputation of the delegate in question. Unlike the traditional voting system, on these blockchain networks, if witnesses do not carry out their duty of validating blocks on the network, they will be expelled and immediately replaced by another. This helps to secure the network from malicious actors. Furthermore, these DPoS based networks adapt which makes them more scalable than the PoW and the PoS algorithms. This is because they elect a few people who do the job for the network.
Characteristics Of The Delegated Proof Of Stake Algorithm
While we have discussed what the DPoS consensus algorithm is, it is best that we discuss some of the features or characteristics that set it apart from both the PoS and the PoW. These underlying characteristics apply to the Delegated Proof of Stake algorithm as well. These characteristics include;
  1. A Voting System - Unlike the other two consensus algorithms, the DPoS algorithm has a voting system. On these networks, users will have to vote for delegates or witnesses that will validate transactions on the network. The votes are weighted according to the number of coins that an individual on the network has. While users do not need to have so many coins to become delegates, they need to have voters that have more coins as their votes can help make them become top tier witnesses.
  2. System Witnesses - These are those that are chosen by users on the network to validate transactions on their behalf. Depending on each of these networks, the number of witnesses may vary. While these witnesses can block transactions that are being sent, they cannot in any way alter or change the information on each of these transactions. This is because the blockchain technology is immutable.
  3. NetworkDelegates - This happens to be another set of people on the DPoS based blockchain networks. They are voted by users on the network to help maintain the network. They are elected to oversee the overall performance as well as the entire blockchain protocol. These delegates can propose things on the network. For example, they can propose that the number of witnesses is reduced or increased and users on the network will have to vote either for or against the motion.
As always, the team here at Affil Coin is happy to help where we can. So, if you ever have any questions, stop by the Affil Coin Telegram chat and talk to a member of our team! Furthermore, if you want to learn more about Delegated Proof of Stake, click here and visit the Affil Coin site!
submitted by affilcoin to affilcoin [link] [comments]

The Truth about Bitcoin?

Part 1/4 - NSA Connection:
First off, the SHA-256 algorithm, which stands for Secure Hash Algorithm 256, is a member of the SHA-2 cryptographic hash functions designed by the NSA and first published in 2001.
SHA-256, like other hash functions, takes any input and produces an output (often called a hash) of fixed length. The output of a hashing algorithm such as SHA-256 will always be the same length - regardless of the input size. Specifically, the output is, as the name suggests, 256 bits.
Moreover, all outputs appear completely random and offer no information about the input that created it.
The Bitcoin Network utilises the SHA-256 algorithm for mining and the creation of new addresses.
Who is Satoshi Nakamoto? What does Satoshi Nakamoto mean?
Out of respect for their anonymity, it would be rude to speculate in a video about who Satoshi Nakamoto is likely to be. The reality is, it's not important. Let me explain: Any human being can be attacked. Jesus could come back from the dead, and there would be haters. Therefore, the Satoshi Nakamoto approach neutralises the natural human herd behaviour, exacerbated by the media, to attack and discredit. This is a very important part of Bitcoin's success thus far. Also, from a security perspective, those who wish to dox Satoshi Nakamoto in a video are essentially putting his, or her, or their, life at risk...for the sake of views.
As a genius who has produced an innovation not just from a technical perspective but also a monetary perspective, they should be treated with more respect than that.
As for the name Satoshi Nakamoto, I would speculate that it is a homage to Tatsuaki Okamoto and Satoshi Obana - two cryptographers from Japan. There is another reason for the name, but that...is confidential.
In 1996, the NSA's Cryptology Division of their Office of Information Security Research and Technology published a paper titled: "How to make a mint: The cryptography of anonymous electronic cash", first publishing it in an MIT mailing list and later, in 1997, in the American University Law Review. One of the researchers they referenced was Tatsuaki Okamoto.

Part 2/4 - 'Crypto Market':
Most of the crypto market is a scam.
By the way, this was predicted very early on in the Bitcoin Talk forums - check out this interaction from November 8th, 2010:
"if bitcoin really takes off I can see lots of get-rich-quick imitators coming on the scene: gitcoin, nitcoin, witcoin, titcoin, shitcoin...
Of course the cheap imitators will disappear as quickly as those 1990s "internet currencies", but lots of people will get burned along the way."
To which Bitcoin OG Gavin Andresen replies:
"I agree - we're in the Wild West days of open-source currency. I expect people will get burned by scams, imitators, ponzi schemes and price bubbles."
"I don't think there's a whole lot that can be done about scammers, imitators and ponzi schemes besides warning people to be careful with their money (whether dollars, euros or bitcoins)."
Now, on the one hand, lack of regulation is more meritocratic (as you don't have to be an accredited investor just to get access).
On the other hand, it means that crypto is, as Gavin said, a Wild West environment, with many cowboys in the Desert. Be careful.
This is the same with most online courses - particularly 'How to get rich quick' courses - however with crypto you have an exponential increase in the supply of victims during the bull cycles so it is particularly prevalent during those times.
In addition to this, leverage trading exchanges, which are no different to casinos, prey on naive retail traders who:
A) Think they can outsmart professional traders with actual risk management skills; and
B) Think they can outsmart the exchanges themselves who have an informational advantage as well as an incentive to chase stop losses and liquidate positions.

Part 3/4 - CBDCs:
The Fed and Central Banks around the world have printed themselves into a corner.
Quantitative easing was the band-aid for the Great Financial Crisis in 2008, and more recent events have propelled the rate of money printing to absurd levels.
This means that all currencies are in a race to zero - and it becomes a game of who can print more fiat faster.
The powers that be know that this fiat frenzy is unsustainable, and that more and more people are becoming aware that it is a debt based system, based on nothing.
The monetary system devised by bankers, for bankers, in 1913 on Jekyll Island and supercharged in 1971 is fairly archaic and also does not allow for meritocratic value transfer - fiat printing itself increases inequality.
They, obviously, know this (as it is by design).
The issue (for them) is that more and more people are starting to become aware of this.
Moving to a modernised monetary system will allow those who have rigged the rules of the game for the last Century to get away scot-free.
It will also pave the way for a new wealthy, and more tech literate, elite to emerge - again predicted in the Bitcoin Talk forums.
Now...back to the powers that be.
Bitcoin provides a natural transition to Central Bank Digital Currencies (CBDCs) and what I would describe as Finance 2.0, but what are the benefits of CBDCs for the state?
More control, easier tax collection, more flexibility in monetary policy (i.e. negative interest rates) and generally a more efficient monetary system.
This leads us to the kicker: which is the war on cash. The cashless society was a fantasy just a few years ago, however now it doesn't seem so far fetched. No comment.

Part 4/4 - Bitcoin:
What about Bitcoin?
Well, Bitcoin has incredibly strong network effects; it is the most powerful computer network in the World.
But what about Bitcoin's reputation?
Bankers hate it.
Warren Buffett hates it.
Precisely, and the public hates bankers.
Sure, the investing public respects Buffett, but the general public perception of anyone worth $73 billion is not exactly at all time highs right now amid record wealth inequality.
In the grand scheme of things, the market cap of Bitcoin is currently around $179 billion.
For example, the market cap of Gold is around $9 trillion, which is 50x the Market Cap of Bitcoin.
Money has certain characteristics.
In my opinion, what makes Bitcoin unique is the fact that it has a finite total supply (21 million) and a predictable supply schedule via the halving events every 4 years, which cut in half the rate at which new Bitcoin is released into circulation.
Clearly, with these properties, it seems likely that Bitcoin could act as a meaningful hedge against inflation.
One of the key strengths of Bitcoin is the fact that the Network is decentralised...
Many people don't know that PayPal originally wanted to create a global currency similar to crypto.
Overall, a speculative thesis would be the following:
Satoshi Nakamoto is one of the most important entities of the 21st Century, and will accelerate the next transition of the human race.
Trusted third parties are security holes.
Bitcoin is the catalyst for Finance 2.0, whereby value transfer is conducted in a more meritocratic and decentralised fashion.
In 1964, Russian astrophysicist Nikolai Kardashev designed the Kardashev Scale.
At the time, he was looking for signs of extraterrestrial life within cosmic signals.
The Scale has three categories, which are based on the amount of usable energy a civilisation has at its disposal, and the degree of space colonisation.
Generally, a Type 1 Civilisation has achieved mastery of its home planet (10^16W);
A Type 2 Civilisation has mastery over its solar system (10^26W);
and a Type 3 Civilisation has mastery over its Galaxy (10^36W).
We humans are a Type 0 Civilisation on this Scale.
Nonetheless, our exponential technological growth in the few decades indicates that we are somewhere between Type 0 and Type 1.
In fact, according to Carl Sagan's interpolated Kardashev Scale and recent global energy consumption, we are about 0.73.
Physicist Freeman Dyson estimated that within 200 years or so, we should attain Type 1 status.
As a technology that, through its decentralisation, links entities globally and makes value transfer between humans more efficient, Bitcoin could prove a key piece of our progression as a civilisation.
What are your thoughts?
Is it true...or false?
https://www.youtube.com/watch?v=1oQLOqpP1ZM
submitted by financeoptimum to CryptoCurrency [link] [comments]

Antminer T19 May Not Affect Bitcoin Hash Rate but Keeps Bitmain Ahead

The Antminer T19 by Bitmain may not have a big impact on the Bitcoin network, and it comes out amid the firm’s internal and post-halving uncertainty.
Earlier this week, Chinese mining-hardware juggernaut Bitmain unveiled its new product, an application-specific integrated circuit called Antminer T19. The Bitcoin (BTC) mining unit is the latest to join the new generation of ASICs — state-of-the-art devices designed to mitigate increased mining difficulty by maximizing the terahashes-per-second output.
The Antminer T19 announcement comes amid the post-halving uncertainty and follows the company’s recent problems with its S17 units. So, can this new machine help Bitmain to reinforce its somewhat hobbled position in the mining sector?
T19: The cheaper S19
According to the official announcement, the Antminer T19 features a mining speed of 84 TH/s and a power efficiency of 37.5 joules per TH. The chips used in the new device are the same as those equipped in the Antminer S19 and S19 Pro, though it uses the new APW12 version of the power supply system that allows the device to start up faster.
Bitmain usually markets its Antminer T devices as the most cost-effective ones, while the S-series models are presented as the top of the line in terms of productivity for their respective generation, Johnson Xu — the head of research and analytics at Tokensight — explained to Cointelegraph. According to data from F2Pool, one of the largest Bitcoin mining pools, Antminer T19s can generate $3.97 of profit each day, while Antminer S19s and Antminer S19 Pros can earn $4.86 and $6.24, respectively, based on an average electricity cost of $0.05 per kilowatt-hour.
Antminer T19s, which consume 3,150 watts, are being sold for $1,749 per unit. Antminer S19 machines, on the other hand, cost $1,785 and consume 3,250 watts. Antminer S19 Pro devices, the most efficient of three, are considerably more expensive and go for $2,407. The reason Bitmain is producing another model for the 19 series is due to what is known as "binning" chips, Marc Fresa — the founder of mining firmware company Asic.to — explained to Cointelegraph:
“When chips are designed they are meant to achieve specific performance levels. Chips that fail to hit their target numbers, such as not achieving the power standards or their thermal output, are often ‘Binned.’ Instead of throwing these chips in the garbage bin, these chips are resold into another unit with a lower performance level. In the case of Bitmain S19 chips that don’t make the cutoff are then sold in the T19 for cheaper since they do not perform as well as the counterpart.” The rollout of a new model “has nothing to do with the fact that machines are not selling well,” Fresa went on to argue, citing the post-halving uncertainty: “The biggest reason machines probably are not selling as well as manufacturers would like is because we are on a bit of a tipping point; The halving just happened, the price can go anyway and the difficulty is continuing to drop.” Product diversification is a common strategy for mining hardware producers, given that customers tend to aim for different specifications, Kristy-Leigh Minehan, a consultant and the former chief technology officer of Genesis Mining, told Cointelegraph:
“ASICs don’t really allow for one model as consumers expect a certain performance level from a machine, and unfortunately silicon is not a perfect process — many times you’ll get a batch that performs better or worse than projected due to the nature of the materials. Thus, you end up with 5–10 different model numbers.” It is not yet clear how efficient the 19-series devices are because they have not shipped at scale, as Leo Zhang, the founder of Anicca Research, summed up in a conversation with Cointelegraph. The first batch of S19 units reportedly shipped out around May 12, while the T19 shipments will start between June 21 and June 30. It is also worth noting that, at this time, Bitmain only sells up to two T19 miners per user “to prevent hoarding.”
Hardware problems and competitors
The latest generation of Bitmain ASICs follows the release of the S17 units, which have received mostly mixed-to-negative reviews in the community. In early May, Arseniy Grusha, the co-founder of crypto consulting and mining firm Wattum, created a Telegram group for consumers unsatisfied with the S17 units they purchased from Bitmain. As Grusha explained to Cointelegraph at the time, out of the 420 Antminer S17+ devices his company bought, roughly 30%, or around 130 machines, turned out to be bad units.
Similarly, Samson Mow, the chief strategy officer of blockchain infrastructure firm Blockstream, tweeted earlier in April that Bitmain customers have a 20%–30% failure rate with Antminer S17 and T17 units. “The Antminer 17 series is generally considered not great,” added Zhang. He additionally noted that Chinese hardware company and competitor Micro BT has been stepping on Bitmain’s toes lately with the release of its highly productive M30 series, which prompted Bitmain to step up its efforts:
“Whatsminer gained significant market share in the past two years. According to their COO, in 2019 MicroBT sold ~35% of the network hashrate. Needless to say Bitmain is under a lot of pressure both from competitors and internal politics. They have been working on the 19 series for a while. The specs and price look very attractive.” Minehan confirmed that MicroBT has been gaining traction on the market, but refrained from saying that Bitmain is losing market share as a result: “I think MicroBT is offering option and bringing in new participants, and giving farms a choice. Most farms will have both Bitmain and MicroBT side by side, rather than exclusively host one manufacturer.”
“I would say that MicroBT has taken up the existing market share that Canaan has left,” she added, referring to another China-based mining player that recently reported a net loss of $5.6 million in the first quarter of 2020 and cut the price of its mining hardware by up to 50%.
Indeed, some large-scale operations seem to be diversifying their equipment with MicroBT units. Earlier this week, United States mining firm Marathon Patent Group announced that it had installed 700 Whatsminer M30S+ ASICs produced by MicroBT. However, it is also reportedly waiting for a delivery of 1,160 Antminer S19 Pro units produced by Bitmain, meaning that it also remains loyal to the current market leader.
Will the hash rate be affected?
Bitcoin’s hash rate plummeted 30% soon after the halving occurred as much of the older generation equipment became unprofitable due to the increased mining difficulty. That spurred miners to reshuffle, upgrading their current rigs and selling older machines to places where electricity is cheaper — meaning that some of them had to temporarily unplug.
The situation has stabilized since, with the hash rate fluctuating around 100 TH/s for the past few days. Some experts attribute that to the start of the wet season in Sichuan, a southwest Chinese province where miners take advantage of low hydroelectricity prices between May and October.
The arrival of the new generation of ASICs is expected to drive the hash rate even higher, at least once upgraded units become widely available. So, will the newly revealed T19 model make any impact on the state of the network?
Experts agree that it won’t affect the hash rate to a major degree, as it’s a lower output model compared with the S19 series and MicroBT’s M30 series. Minehan said she doesn’t expect the T19 model “to have a huge impact that’s an immediate cause of concern,” as “most likely this is a run of <3500 units of a particular bin quality.” Similarly, Mark D’Aria, the CEO of crypto consulting firm Bitpro, told Cointelegraph:
“There isn’t a strong reason to expect the new model to significantly affect the hashrate. It might be a slightly more compelling option to a miner with extraordinarily inexpensive electricity, but otherwise they likely would have just purchased an S19 instead.” Bitmain continues to hold leadership despite internal struggle
At the end of the day, manufacturers are always in an arms race, and mining machines are simply commodity products, Zhang argued in a conversation with Cointelegraph:
“Besides price, performance, and failure rate, there are not many factors that can help a manufacturer differentiate from the others. The relentless competition led to where we are today.” According to Zhang, as the iteration rate naturally slows down in the future, there will be more facilities using “creative thermal design such as immersion cooling,” hoping to maximize the mining efficiency beyond just using most powerful machines.
As for now, Bitmain remains the leader of the mining race, despite having to deal with the largely defunct 17 series and an intensifying power struggle between its two co-founders, Jihan Wu and Micree Zhan, which recently resulted in reports of a street brawl.
“Due to its recent internal issues, Bitmain is facing challenges to keep its strong position in the future thus they started to look at other things to expand its industry influences,” Xu told Cointelegraph. He added that Bitmain “will still dominate the industry position in the near future due to its network effect,” although its current problems might allow competitors such as MicroBT to catch up.
Earlier this week, the power struggle inside Bitmain intensified even further as Micree Zhan, an ousted executive of the mining titan, reportedly led a group of private guards to overtake the company’s office in Beijing.
Meanwhile, Bitmain continues to expand its operations. Last week, the mining company revealed it was extending its “Ant Training Academy” certification program to North America, with the first courses set to launch in the fall. As such, Bitmain seems to be doubling down on the U.S.-based mining sector, which has been growing recently. The Beijing-based company already operates what it classifies as “the world’s largest” mining facility in Rockdale, Texas, which has a planned capacity of 50 megawatts that can later be expanded to 300 megawatts.
submitted by melissaBrian0 to Bitcoin [link] [comments]

The Truth about Bitcoin?

Part 1/4 - NSA Connection:
First off, the SHA-256 algorithm, which stands for Secure Hash Algorithm 256, is a member of the SHA-2 cryptographic hash functions designed by the NSA and first published in 2001.
SHA-256, like other hash functions, takes any input and produces an output (often called a hash) of fixed length. The output of a hashing algorithm such as SHA-256 will always be the same length - regardless of the input size. Specifically, the output is, as the name suggests, 256 bits.
Moreover, all outputs appear completely random and offer no information about the input that created it.
The Bitcoin Network utilises the SHA-256 algorithm for mining and the creation of new addresses.
Who is Satoshi Nakamoto? What does Satoshi Nakamoto mean?
Out of respect for their anonymity, it would be rude to speculate in a video about who Satoshi Nakamoto is likely to be. The reality is, it's not important. Let me explain: Any human being can be attacked. Jesus could come back from the dead, and there would be haters. Therefore, the Satoshi Nakamoto approach neutralises the natural human herd behaviour, exacerbated by the media, to attack and discredit. This is a very important part of Bitcoin's success thus far. Also, from a security perspective, those who wish to dox Satoshi Nakamoto in a video are essentially putting his, or her, or their, life at risk...for the sake of views.
As a genius who has produced an innovation not just from a technical perspective but also a monetary perspective, they should be treated with more respect than that.
As for the name Satoshi Nakamoto, I would speculate that it is a homage to Tatsuaki Okamoto and Satoshi Obana - two cryptographers from Japan. There is another reason for the name, but that...is confidential.
In 1996, the NSA's Cryptology Division of their Office of Information Security Research and Technology published a paper titled: "How to make a mint: The cryptography of anonymous electronic cash", first publishing it in an MIT mailing list and later, in 1997, in the American University Law Review. One of the researchers they referenced was Tatsuaki Okamoto.

Part 2/4 - 'Crypto Market':
Most of the crypto market is a scam.
By the way, this was predicted very early on in the Bitcoin Talk forums - check out this interaction from November 8th, 2010:
"if bitcoin really takes off I can see lots of get-rich-quick imitators coming on the scene: gitcoin, nitcoin, witcoin, titcoin, shitcoin...
Of course the cheap imitators will disappear as quickly as those 1990s "internet currencies", but lots of people will get burned along the way."
To which Bitcoin OG Gavin Andresen replies:
"I agree - we're in the Wild West days of open-source currency. I expect people will get burned by scams, imitators, ponzi schemes and price bubbles."
"I don't think there's a whole lot that can be done about scammers, imitators and ponzi schemes besides warning people to be careful with their money (whether dollars, euros or bitcoins)."
Now, on the one hand, lack of regulation is more meritocratic (as you don't have to be an accredited investor just to get access).
On the other hand, it means that crypto is, as Gavin said, a Wild West environment, with many cowboys in the Desert. Be careful.
This is the same with most online courses - particularly 'How to get rich quick' courses - however with crypto you have an exponential increase in the supply of victims during the bull cycles so it is particularly prevalent during those times.
In addition to this, leverage trading exchanges, which are no different to casinos, prey on naive retail traders who:
A) Think they can outsmart professional traders with actual risk management skills; and
B) Think they can outsmart the exchanges themselves who have an informational advantage as well as an incentive to chase stop losses and liquidate positions.

Part 3/4 - CBDCs:
The Fed and Central Banks around the world have printed themselves into a corner.
Quantitative easing was the band-aid for the Great Financial Crisis in 2008, and more recent events have propelled the rate of money printing to absurd levels.
This means that all currencies are in a race to zero - and it becomes a game of who can print more fiat faster.
The powers that be know that this fiat frenzy is unsustainable, and that more and more people are becoming aware that it is a debt based system, based on nothing.
The monetary system devised by bankers, for bankers, in 1913 on Jekyll Island and supercharged in 1971 is fairly archaic and also does not allow for meritocratic value transfer - fiat printing itself increases inequality.
They, obviously, know this (as it is by design).
The issue (for them) is that more and more people are starting to become aware of this.
Moving to a modernised monetary system will allow those who have rigged the rules of the game for the last Century to get away scot-free.
It will also pave the way for a new wealthy, and more tech literate, elite to emerge - again predicted in the Bitcoin Talk forums.
Now...back to the powers that be.
Bitcoin provides a natural transition to Central Bank Digital Currencies (CBDCs) and what I would describe as Finance 2.0, but what are the benefits of CBDCs for the state?
More control, easier tax collection, more flexibility in monetary policy (i.e. negative interest rates) and generally a more efficient monetary system.
This leads us to the kicker: which is the war on cash. The cashless society was a fantasy just a few years ago, however now it doesn't seem so far fetched. No comment.

Part 4/4 - Bitcoin:
What about Bitcoin?
Well, Bitcoin has incredibly strong network effects; it is the most powerful computer network in the World.
But what about Bitcoin's reputation?
Bankers hate it.
Warren Buffett hates it.
Precisely, and the public hates bankers.
Sure, the investing public respects Buffett, but the general public perception of anyone worth $73 billion is not exactly at all time highs right now amid record wealth inequality.
In the grand scheme of things, the market cap of Bitcoin is currently around $179 billion.
For example, the market cap of Gold is around $9 trillion, which is 50x the Market Cap of Bitcoin.
Money has certain characteristics.
In my opinion, what makes Bitcoin unique is the fact that it has a finite total supply (21 million) and a predictable supply schedule via the halving events every 4 years, which cut in half the rate at which new Bitcoin is released into circulation.
Clearly, with these properties, it seems likely that Bitcoin could act as a meaningful hedge against inflation.
One of the key strengths of Bitcoin is the fact that the Network is decentralised...
Many people don't know that PayPal originally wanted to create a global currency similar to crypto.
Overall, a speculative thesis would be the following:
Satoshi Nakamoto is one of the most important entities of the 21st Century, and will accelerate the next transition of the human race.
Trusted third parties are security holes.
Bitcoin is the catalyst for Finance 2.0, whereby value transfer is conducted in a more meritocratic and decentralised fashion.
In 1964, Russian astrophysicist Nikolai Kardashev designed the Kardashev Scale.
At the time, he was looking for signs of extraterrestrial life within cosmic signals.
The Scale has three categories, which are based on the amount of usable energy a civilisation has at its disposal, and the degree of space colonisation.
Generally, a Type 1 Civilisation has achieved mastery of its home planet (10^16W);
A Type 2 Civilisation has mastery over its solar system (10^26W);
and a Type 3 Civilisation has mastery over its Galaxy (10^36W).
We humans are a Type 0 Civilisation on this Scale.
Nonetheless, our exponential technological growth in the few decades indicates that we are somewhere between Type 0 and Type 1.
In fact, according to Carl Sagan's interpolated Kardashev Scale and recent global energy consumption, we are about 0.73.
Physicist Freeman Dyson estimated that within 200 years or so, we should attain Type 1 status.
As a technology that, through its decentralisation, links entities globally and makes value transfer between humans more efficient, Bitcoin could prove a key piece of our progression as a civilisation.
What are your thoughts?
Is it true...or false?
https://www.youtube.com/watch?v=1oQLOqpP1ZM
submitted by financeoptimum to Money [link] [comments]

The Truth about Bitcoin?

Part 1/4 - NSA Connection:
First off, the SHA-256 algorithm, which stands for Secure Hash Algorithm 256, is a member of the SHA-2 cryptographic hash functions designed by the NSA and first published in 2001.
SHA-256, like other hash functions, takes any input and produces an output (often called a hash) of fixed length. The output of a hashing algorithm such as SHA-256 will always be the same length - regardless of the input size. Specifically, the output is, as the name suggests, 256 bits.
Moreover, all outputs appear completely random and offer no information about the input that created it.
The Bitcoin Network utilises the SHA-256 algorithm for mining and the creation of new addresses.
Who is Satoshi Nakamoto? What does Satoshi Nakamoto mean?
Out of respect for their anonymity, it would be rude to speculate in a video about who Satoshi Nakamoto is likely to be. The reality is, it's not important. Let me explain: Any human being can be attacked. Jesus could come back from the dead, and there would be haters. Therefore, the Satoshi Nakamoto approach neutralises the natural human herd behaviour, exacerbated by the media, to attack and discredit. This is a very important part of Bitcoin's success thus far. Also, from a security perspective, those who wish to dox Satoshi Nakamoto in a video are essentially putting his, or her, or their, life at risk...for the sake of views.
As a genius who has produced an innovation not just from a technical perspective but also a monetary perspective, they should be treated with more respect than that.
As for the name Satoshi Nakamoto, I would speculate that it is a homage to Tatsuaki Okamoto and Satoshi Obana - two cryptographers from Japan. There is another reason for the name, but that...is confidential.
In 1996, the NSA's Cryptology Division of their Office of Information Security Research and Technology published a paper titled: "How to make a mint: The cryptography of anonymous electronic cash", first publishing it in an MIT mailing list and later, in 1997, in the American University Law Review. One of the researchers they referenced was Tatsuaki Okamoto.

Part 2/4 - 'Crypto Market':
Most of the crypto market is a scam.
By the way, this was predicted very early on in the Bitcoin Talk forums - check out this interaction from November 8th, 2010:
"if bitcoin really takes off I can see lots of get-rich-quick imitators coming on the scene: gitcoin, nitcoin, witcoin, titcoin, shitcoin...
Of course the cheap imitators will disappear as quickly as those 1990s "internet currencies", but lots of people will get burned along the way."
To which Bitcoin OG Gavin Andresen replies:
"I agree - we're in the Wild West days of open-source currency. I expect people will get burned by scams, imitators, ponzi schemes and price bubbles."
"I don't think there's a whole lot that can be done about scammers, imitators and ponzi schemes besides warning people to be careful with their money (whether dollars, euros or bitcoins)."
Now, on the one hand, lack of regulation is more meritocratic (as you don't have to be an accredited investor just to get access).
On the other hand, it means that crypto is, as Gavin said, a Wild West environment, with many cowboys in the Desert. Be careful.
This is the same with most online courses - particularly 'How to get rich quick' courses - however with crypto you have an exponential increase in the supply of victims during the bull cycles so it is particularly prevalent during those times.
In addition to this, leverage trading exchanges, which are no different to casinos, prey on naive retail traders who:
A) Think they can outsmart professional traders with actual risk management skills; and
B) Think they can outsmart the exchanges themselves who have an informational advantage as well as an incentive to chase stop losses and liquidate positions.

Part 3/4 - CBDCs:
The Fed and Central Banks around the world have printed themselves into a corner.
Quantitative easing was the band-aid for the Great Financial Crisis in 2008, and more recent events have propelled the rate of money printing to absurd levels.
This means that all currencies are in a race to zero - and it becomes a game of who can print more fiat faster.
The powers that be know that this fiat frenzy is unsustainable, and that more and more people are becoming aware that it is a debt based system, based on nothing.
The monetary system devised by bankers, for bankers, in 1913 on Jekyll Island and supercharged in 1971 is fairly archaic and also does not allow for meritocratic value transfer - fiat printing itself increases inequality.
They, obviously, know this (as it is by design).
The issue (for them) is that more and more people are starting to become aware of this.
Moving to a modernised monetary system will allow those who have rigged the rules of the game for the last Century to get away scot-free.
It will also pave the way for a new wealthy, and more tech literate, elite to emerge - again predicted in the Bitcoin Talk forums.
Now...back to the powers that be.
Bitcoin provides a natural transition to Central Bank Digital Currencies (CBDCs) and what I would describe as Finance 2.0, but what are the benefits of CBDCs for the state?
More control, easier tax collection, more flexibility in monetary policy (i.e. negative interest rates) and generally a more efficient monetary system.
This leads us to the kicker: which is the war on cash. The cashless society was a fantasy just a few years ago, however now it doesn't seem so far fetched. No comment.

Part 4/4 - Bitcoin:
What about Bitcoin?
Well, Bitcoin has incredibly strong network effects; it is the most powerful computer network in the World.
But what about Bitcoin's reputation?
Bankers hate it.
Warren Buffett hates it.
Precisely, and the public hates bankers.
Sure, the investing public respects Buffett, but the general public perception of anyone worth $73 billion is not exactly at all time highs right now amid record wealth inequality.
In the grand scheme of things, the market cap of Bitcoin is currently around $179 billion.
For example, the market cap of Gold is around $9 trillion, which is 50x the Market Cap of Bitcoin.
Money has certain characteristics.
In my opinion, what makes Bitcoin unique is the fact that it has a finite total supply (21 million) and a predictable supply schedule via the halving events every 4 years, which cut in half the rate at which new Bitcoin is released into circulation.
Clearly, with these properties, it seems likely that Bitcoin could act as a meaningful hedge against inflation.
One of the key strengths of Bitcoin is the fact that the Network is decentralised...
Many people don't know that PayPal originally wanted to create a global currency similar to crypto.
Overall, a speculative thesis would be the following:
Satoshi Nakamoto is one of the most important entities of the 21st Century, and will accelerate the next transition of the human race.
Trusted third parties are security holes.
Bitcoin is the catalyst for Finance 2.0, whereby value transfer is conducted in a more meritocratic and decentralised fashion.
In 1964, Russian astrophysicist Nikolai Kardashev designed the Kardashev Scale.
At the time, he was looking for signs of extraterrestrial life within cosmic signals.
The Scale has three categories, which are based on the amount of usable energy a civilisation has at its disposal, and the degree of space colonisation.
Generally, a Type 1 Civilisation has achieved mastery of its home planet (10^16W);
A Type 2 Civilisation has mastery over its solar system (10^26W);
and a Type 3 Civilisation has mastery over its Galaxy (10^36W).
We humans are a Type 0 Civilisation on this Scale.
Nonetheless, our exponential technological growth in the few decades indicates that we are somewhere between Type 0 and Type 1.
In fact, according to Carl Sagan's interpolated Kardashev Scale and recent global energy consumption, we are about 0.73.
Physicist Freeman Dyson estimated that within 200 years or so, we should attain Type 1 status.
As a technology that, through its decentralisation, links entities globally and makes value transfer between humans more efficient, Bitcoin could prove a key piece of our progression as a civilisation.
What are your thoughts?
Is it true...or false?
https://www.youtube.com/watch?v=1oQLOqpP1ZM
submitted by financeoptimum to economy [link] [comments]

Will Mining Farms soon pose a risk to password security?

Most passwords used by humans are small in entropy, typically less than 10 characters.
Even low level Bitcoin Mining Farms are easily reaching hundreds of trillions of hashes per second now.
These rigs are specifically designed at a circuit level to solve dSHA256, that is SHA256(SHA256(x))
Suppose the sha-256-hash of the password to a very important account were known, if it were simply hashed a second time and a bitcoin mining farm re-organized its efforts to finding a match of the second-hash of the password, they could do so in just a day, easily, even if the password were something like: AD3P09JEN3.
Already hash-rate power has grown in the hands of centralized entities far more than I could have imagined years ago, and bitcoin isn't even nearly main stream yet (imagine how much more these hash rates are capable of increasing as crypto market caps enter the trillions). It seems we are just a few years away from SHA-256 being "broken" for input passwords of normal length (say up to 12 characters). Broken meaning any password in that range could be cracked in just a day by one entity.
Is my reasoning way off here? Or will Mining Farms soon pose a risk to password security?
submitted by Apps4Life to CryptoCurrency [link] [comments]

The Truth about Bitcoin?

Part 1/4 - NSA Connection:
First off, the SHA-256 algorithm, which stands for Secure Hash Algorithm 256, is a member of the SHA-2 cryptographic hash functions designed by the NSA and first published in 2001.
SHA-256, like other hash functions, takes any input and produces an output (often called a hash) of fixed length. The output of a hashing algorithm such as SHA-256 will always be the same length - regardless of the input size. Specifically, the output is, as the name suggests, 256 bits.
Moreover, all outputs appear completely random and offer no information about the input that created it.
The Bitcoin Network utilises the SHA-256 algorithm for mining and the creation of new addresses.
Who is Satoshi Nakamoto? What does Satoshi Nakamoto mean?
Out of respect for their anonymity, it would be rude to speculate in a video about who Satoshi Nakamoto is likely to be. The reality is, it's not important. Let me explain: Any human being can be attacked. Jesus could come back from the dead, and there would be haters. Therefore, the Satoshi Nakamoto approach neutralises the natural human herd behaviour, exacerbated by the media, to attack and discredit. This is a very important part of Bitcoin's success thus far. Also, from a security perspective, those who wish to dox Satoshi Nakamoto in a video are essentially putting his, or her, or their, life at risk...for the sake of views.
As a genius who has produced an innovation not just from a technical perspective but also a monetary perspective, they should be treated with more respect than that.
As for the name Satoshi Nakamoto, I would speculate that it is a homage to Tatsuaki Okamoto and Satoshi Obana - two cryptographers from Japan. There is another reason for the name, but that...is confidential.
In 1996, the NSA's Cryptology Division of their Office of Information Security Research and Technology published a paper titled: "How to make a mint: The cryptography of anonymous electronic cash", first publishing it in an MIT mailing list and later, in 1997, in the American University Law Review. One of the researchers they referenced was Tatsuaki Okamoto.

Part 2/4 - 'Crypto Market':
Most of the crypto market is a scam.
By the way, this was predicted very early on in the Bitcoin Talk forums - check out this interaction from November 8th, 2010:
"if bitcoin really takes off I can see lots of get-rich-quick imitators coming on the scene: gitcoin, nitcoin, witcoin, titcoin, shitcoin...
Of course the cheap imitators will disappear as quickly as those 1990s "internet currencies", but lots of people will get burned along the way."
To which Bitcoin OG Gavin Andresen replies:
"I agree - we're in the Wild West days of open-source currency. I expect people will get burned by scams, imitators, ponzi schemes and price bubbles."
"I don't think there's a whole lot that can be done about scammers, imitators and ponzi schemes besides warning people to be careful with their money (whether dollars, euros or bitcoins)."
Now, on the one hand, lack of regulation is more meritocratic (as you don't have to be an accredited investor just to get access).
On the other hand, it means that crypto is, as Gavin said, a Wild West environment, with many cowboys in the Desert. Be careful.
This is the same with most online courses - particularly 'How to get rich quick' courses - however with crypto you have an exponential increase in the supply of victims during the bull cycles so it is particularly prevalent during those times.
In addition to this, leverage trading exchanges, which are no different to casinos, prey on naive retail traders who:
A) Think they can outsmart professional traders with actual risk management skills; and
B) Think they can outsmart the exchanges themselves who have an informational advantage as well as an incentive to chase stop losses and liquidate positions.

Part 3/4 - CBDCs:
The Fed and Central Banks around the world have printed themselves into a corner.
Quantitative easing was the band-aid for the Great Financial Crisis in 2008, and more recent events have propelled the rate of money printing to absurd levels.
This means that all currencies are in a race to zero - and it becomes a game of who can print more fiat faster.
The powers that be know that this fiat frenzy is unsustainable, and that more and more people are becoming aware that it is a debt based system, based on nothing.
The monetary system devised by bankers, for bankers, in 1913 on Jekyll Island and supercharged in 1971 is fairly archaic and also does not allow for meritocratic value transfer - fiat printing itself increases inequality.
They, obviously, know this (as it is by design).
The issue (for them) is that more and more people are starting to become aware of this.
Moving to a modernised monetary system will allow those who have rigged the rules of the game for the last Century to get away scot-free.
It will also pave the way for a new wealthy, and more tech literate, elite to emerge - again predicted in the Bitcoin Talk forums.
Now...back to the powers that be.
Bitcoin provides a natural transition to Central Bank Digital Currencies (CBDCs) and what I would describe as Finance 2.0, but what are the benefits of CBDCs for the state?
More control, easier tax collection, more flexibility in monetary policy (i.e. negative interest rates) and generally a more efficient monetary system.
This leads us to the kicker: which is the war on cash. The cashless society was a fantasy just a few years ago, however now it doesn't seem so far fetched. No comment.

Part 4/4 - Bitcoin:
What about Bitcoin?
Well, Bitcoin has incredibly strong network effects; it is the most powerful computer network in the World.
But what about Bitcoin's reputation?
Bankers hate it.
Warren Buffett hates it.
Precisely, and the public hates bankers.
Sure, the investing public respects Buffett, but the general public perception of anyone worth $73 billion is not exactly at all time highs right now amid record wealth inequality.
In the grand scheme of things, the market cap of Bitcoin is currently around $179 billion.
For example, the market cap of Gold is around $9 trillion, which is 50x the Market Cap of Bitcoin.
Money has certain characteristics.
In my opinion, what makes Bitcoin unique is the fact that it has a finite total supply (21 million) and a predictable supply schedule via the halving events every 4 years, which cut in half the rate at which new Bitcoin is released into circulation.
Clearly, with these properties, it seems likely that Bitcoin could act as a meaningful hedge against inflation.
One of the key strengths of Bitcoin is the fact that the Network is decentralised...
Many people don't know that PayPal originally wanted to create a global currency similar to crypto.
Overall, a speculative thesis would be the following:
Satoshi Nakamoto is one of the most important entities of the 21st Century, and will accelerate the next transition of the human race.
Trusted third parties are security holes.
Bitcoin is the catalyst for Finance 2.0, whereby value transfer is conducted in a more meritocratic and decentralised fashion.
In 1964, Russian astrophysicist Nikolai Kardashev designed the Kardashev Scale.
At the time, he was looking for signs of extraterrestrial life within cosmic signals.
The Scale has three categories, which are based on the amount of usable energy a civilisation has at its disposal, and the degree of space colonisation.
Generally, a Type 1 Civilisation has achieved mastery of its home planet (10^16W);
A Type 2 Civilisation has mastery over its solar system (10^26W);
and a Type 3 Civilisation has mastery over its Galaxy (10^36W).
We humans are a Type 0 Civilisation on this Scale.
Nonetheless, our exponential technological growth in the few decades indicates that we are somewhere between Type 0 and Type 1.
In fact, according to Carl Sagan's interpolated Kardashev Scale and recent global energy consumption, we are about 0.73.
Physicist Freeman Dyson estimated that within 200 years or so, we should attain Type 1 status.
As a technology that, through its decentralisation, links entities globally and makes value transfer between humans more efficient, Bitcoin could prove a key piece of our progression as a civilisation.
What are your thoughts?
Is it true...or false?
https://www.youtube.com/watch?v=1oQLOqpP1ZM
submitted by financeoptimum to Libertarian [link] [comments]

The Truth about Bitcoin?

Part 1/4 - NSA Connection:
First off, the SHA-256 algorithm, which stands for Secure Hash Algorithm 256, is a member of the SHA-2 cryptographic hash functions designed by the NSA and first published in 2001.
SHA-256, like other hash functions, takes any input and produces an output (often called a hash) of fixed length. The output of a hashing algorithm such as SHA-256 will always be the same length - regardless of the input size. Specifically, the output is, as the name suggests, 256 bits.
Moreover, all outputs appear completely random and offer no information about the input that created it.
The Bitcoin Network utilises the SHA-256 algorithm for mining and the creation of new addresses.
Who is Satoshi Nakamoto? What does Satoshi Nakamoto mean?
Out of respect for their anonymity, it would be rude to speculate in a video about who Satoshi Nakamoto is likely to be. The reality is, it's not important. Let me explain: Any human being can be attacked. Jesus could come back from the dead, and there would be haters. Therefore, the Satoshi Nakamoto approach neutralises the natural human herd behaviour, exacerbated by the media, to attack and discredit. This is a very important part of Bitcoin's success thus far. Also, from a security perspective, those who wish to dox Satoshi Nakamoto in a video are essentially putting his, or her, or their, life at risk...for the sake of views.
As a genius who has produced an innovation not just from a technical perspective but also a monetary perspective, they should be treated with more respect than that.
As for the name Satoshi Nakamoto, I would speculate that it is a homage to Tatsuaki Okamoto and Satoshi Obana - two cryptographers from Japan. There is another reason for the name, but that...is confidential.
In 1996, the NSA's Cryptology Division of their Office of Information Security Research and Technology published a paper titled: "How to make a mint: The cryptography of anonymous electronic cash", first publishing it in an MIT mailing list and later, in 1997, in the American University Law Review. One of the researchers they referenced was Tatsuaki Okamoto.

Part 2/4 - 'Crypto Market':
Most of the crypto market is a scam.
By the way, this was predicted very early on in the Bitcoin Talk forums - check out this interaction from November 8th, 2010:
"if bitcoin really takes off I can see lots of get-rich-quick imitators coming on the scene: gitcoin, nitcoin, witcoin, titcoin, shitcoin...
Of course the cheap imitators will disappear as quickly as those 1990s "internet currencies", but lots of people will get burned along the way."
To which Bitcoin OG Gavin Andresen replies:
"I agree - we're in the Wild West days of open-source currency. I expect people will get burned by scams, imitators, ponzi schemes and price bubbles."
"I don't think there's a whole lot that can be done about scammers, imitators and ponzi schemes besides warning people to be careful with their money (whether dollars, euros or bitcoins)."
Now, on the one hand, lack of regulation is more meritocratic (as you don't have to be an accredited investor just to get access).
On the other hand, it means that crypto is, as Gavin said, a Wild West environment, with many cowboys in the Desert. Be careful.
This is the same with most online courses - particularly 'How to get rich quick' courses - however with crypto you have an exponential increase in the supply of victims during the bull cycles so it is particularly prevalent during those times.
In addition to this, leverage trading exchanges, which are no different to casinos, prey on naive retail traders who:
A) Think they can outsmart professional traders with actual risk management skills; and
B) Think they can outsmart the exchanges themselves who have an informational advantage as well as an incentive to chase stop losses and liquidate positions.

Part 3/4 - CBDCs:
The Fed and Central Banks around the world have printed themselves into a corner.
Quantitative easing was the band-aid for the Great Financial Crisis in 2008, and more recent events have propelled the rate of money printing to absurd levels.
This means that all currencies are in a race to zero - and it becomes a game of who can print more fiat faster.
The powers that be know that this fiat frenzy is unsustainable, and that more and more people are becoming aware that it is a debt based system, based on nothing.
The monetary system devised by bankers, for bankers, in 1913 on Jekyll Island and supercharged in 1971 is fairly archaic and also does not allow for meritocratic value transfer - fiat printing itself increases inequality.
They, obviously, know this (as it is by design).
The issue (for them) is that more and more people are starting to become aware of this.
Moving to a modernised monetary system will allow those who have rigged the rules of the game for the last Century to get away scot-free.
It will also pave the way for a new wealthy, and more tech literate, elite to emerge - again predicted in the Bitcoin Talk forums.
Now...back to the powers that be.
Bitcoin provides a natural transition to Central Bank Digital Currencies (CBDCs) and what I would describe as Finance 2.0, but what are the benefits of CBDCs for the state?
More control, easier tax collection, more flexibility in monetary policy (i.e. negative interest rates) and generally a more efficient monetary system.
This leads us to the kicker: which is the war on cash. The cashless society was a fantasy just a few years ago, however now it doesn't seem so far fetched. No comment.

Part 4/4 - Bitcoin:
What about Bitcoin?
Well, Bitcoin has incredibly strong network effects; it is the most powerful computer network in the World.
But what about Bitcoin's reputation?
Bankers hate it.
Warren Buffett hates it.
Precisely, and the public hates bankers.
Sure, the investing public respects Buffett, but the general public perception of anyone worth $73 billion is not exactly at all time highs right now amid record wealth inequality.
In the grand scheme of things, the market cap of Bitcoin is currently around $179 billion.
For example, the market cap of Gold is around $9 trillion, which is 50x the Market Cap of Bitcoin.
Money has certain characteristics.
In my opinion, what makes Bitcoin unique is the fact that it has a finite total supply (21 million) and a predictable supply schedule via the halving events every 4 years, which cut in half the rate at which new Bitcoin is released into circulation.
Clearly, with these properties, it seems likely that Bitcoin could act as a meaningful hedge against inflation.
One of the key strengths of Bitcoin is the fact that the Network is decentralised...
Many people don't know that PayPal originally wanted to create a global currency similar to crypto.
Overall, a speculative thesis would be the following:
Satoshi Nakamoto is one of the most important entities of the 21st Century, and will accelerate the next transition of the human race.
Trusted third parties are security holes.
Bitcoin is the catalyst for Finance 2.0, whereby value transfer is conducted in a more meritocratic and decentralised fashion.
In 1964, Russian astrophysicist Nikolai Kardashev designed the Kardashev Scale.
At the time, he was looking for signs of extraterrestrial life within cosmic signals.
The Scale has three categories, which are based on the amount of usable energy a civilisation has at its disposal, and the degree of space colonisation.
Generally, a Type 1 Civilisation has achieved mastery of its home planet (10^16W);
A Type 2 Civilisation has mastery over its solar system (10^26W);
and a Type 3 Civilisation has mastery over its Galaxy (10^36W).
We humans are a Type 0 Civilisation on this Scale.
Nonetheless, our exponential technological growth in the few decades indicates that we are somewhere between Type 0 and Type 1.
In fact, according to Carl Sagan's interpolated Kardashev Scale and recent global energy consumption, we are about 0.73.
Physicist Freeman Dyson estimated that within 200 years or so, we should attain Type 1 status.
As a technology that, through its decentralisation, links entities globally and makes value transfer between humans more efficient, Bitcoin could prove a key piece of our progression as a civilisation.
What are your thoughts?
Is it true...or false?
https://www.youtube.com/watch?v=1oQLOqpP1ZM
submitted by financeoptimum to investing_discussion [link] [comments]

Bitcoin and Meritocratic Capitalism

Part 1/4 - NSA Connection:
First off, the SHA-256 algorithm, which stands for Secure Hash Algorithm 256, is a member of the SHA-2 cryptographic hash functions designed by the NSA and first published in 2001.
SHA-256, like other hash functions, takes any input and produces an output (often called a hash) of fixed length. The output of a hashing algorithm such as SHA-256 will always be the same length - regardless of the input size. Specifically, the output is, as the name suggests, 256 bits.
Moreover, all outputs appear completely random and offer no information about the input that created it.
The Bitcoin Network utilises the SHA-256 algorithm for mining and the creation of new addresses.
Who is Satoshi Nakamoto? What does Satoshi Nakamoto mean?
Out of respect for their anonymity, it would be rude to speculate in a video about who Satoshi Nakamoto is likely to be. The reality is, it's not important. Let me explain: Any human being can be attacked. Jesus could come back from the dead, and there would be haters. Therefore, the Satoshi Nakamoto approach neutralises the natural human herd behaviour, exacerbated by the media, to attack and discredit. This is a very important part of Bitcoin's success thus far. Also, from a security perspective, those who wish to dox Satoshi Nakamoto in a video are essentially putting his, or her, or their, life at risk...for the sake of views.
As a genius who has produced an innovation not just from a technical perspective but also a monetary perspective, they should be treated with more respect than that.
As for the name Satoshi Nakamoto, I would speculate that it is a homage to Tatsuaki Okamoto and Satoshi Obana - two cryptographers from Japan. There is another reason for the name, but that...is confidential.
In 1996, the NSA's Cryptology Division of their Office of Information Security Research and Technology published a paper titled: "How to make a mint: The cryptography of anonymous electronic cash", first publishing it in an MIT mailing list and later, in 1997, in the American University Law Review. One of the researchers they referenced was Tatsuaki Okamoto.

Part 2/4 - 'Crypto Market':
Most of the crypto market is a scam.
By the way, this was predicted very early on in the Bitcoin Talk forums - check out this interaction from November 8th, 2010:
"if bitcoin really takes off I can see lots of get-rich-quick imitators coming on the scene: gitcoin, nitcoin, witcoin, titcoin, shitcoin...
Of course the cheap imitators will disappear as quickly as those 1990s "internet currencies", but lots of people will get burned along the way."
To which Bitcoin OG Gavin Andresen replies:
"I agree - we're in the Wild West days of open-source currency. I expect people will get burned by scams, imitators, ponzi schemes and price bubbles."
"I don't think there's a whole lot that can be done about scammers, imitators and ponzi schemes besides warning people to be careful with their money (whether dollars, euros or bitcoins)."
Now, on the one hand, lack of regulation is more meritocratic (as you don't have to be an accredited investor just to get access).
On the other hand, it means that crypto is, as Gavin said, a Wild West environment, with many cowboys in the Desert. Be careful.
This is the same with most online courses - particularly 'How to get rich quick' courses - however with crypto you have an exponential increase in the supply of victims during the bull cycles so it is particularly prevalent during those times.
In addition to this, leverage trading exchanges, which are no different to casinos, prey on naive retail traders who:
A) Think they can outsmart professional traders with actual risk management skills; and
B) Think they can outsmart the exchanges themselves who have an informational advantage as well as an incentive to chase stop losses and liquidate positions.

Part 3/4 - CBDCs:
The Fed and Central Banks around the world have printed themselves into a corner.
Quantitative easing was the band-aid for the Great Financial Crisis in 2008, and more recent events have propelled the rate of money printing to absurd levels.
This means that all currencies are in a race to zero - and it becomes a game of who can print more fiat faster.
The powers that be know that this fiat frenzy is unsustainable, and that more and more people are becoming aware that it is a debt based system, based on nothing.
The monetary system devised by bankers, for bankers, in 1913 on Jekyll Island and supercharged in 1971 is fairly archaic and also does not allow for meritocratic value transfer - fiat printing itself increases inequality.
They, obviously, know this (as it is by design).
The issue (for them) is that more and more people are starting to become aware of this.
Moving to a modernised monetary system will allow those who have rigged the rules of the game for the last Century to get away scot-free.
It will also pave the way for a new wealthy, and more tech literate, elite to emerge - again predicted in the Bitcoin Talk forums.
Now...back to the powers that be.
Bitcoin provides a natural transition to Central Bank Digital Currencies (CBDCs) and what I would describe as Finance 2.0, but what are the benefits of CBDCs for the state?
More control, easier tax collection, more flexibility in monetary policy (i.e. negative interest rates) and generally a more efficient monetary system.
This leads us to the kicker: which is the war on cash. The cashless society was a fantasy just a few years ago, however now it doesn't seem so far fetched. No comment.

Part 4/4 - Bitcoin:
What about Bitcoin?
Well, Bitcoin has incredibly strong network effects; it is the most powerful computer network in the World.
But what about Bitcoin's reputation?
Bankers hate it.
Warren Buffett hates it.
Precisely, and the public hates bankers.
Sure, the investing public respects Buffett, but the general public perception of anyone worth $73 billion is not exactly at all time highs right now amid record wealth inequality.
In the grand scheme of things, the market cap of Bitcoin is currently around $179 billion.
For example, the market cap of Gold is around $9 trillion, which is 50x the Market Cap of Bitcoin.
Money has certain characteristics.
In my opinion, what makes Bitcoin unique is the fact that it has a finite total supply (21 million) and a predictable supply schedule via the halving events every 4 years, which cut in half the rate at which new Bitcoin is released into circulation.
Clearly, with these properties, it seems likely that Bitcoin could act as a meaningful hedge against inflation.
One of the key strengths of Bitcoin is the fact that the Network is decentralised...
Many people don't know that PayPal originally wanted to create a global currency similar to crypto.
Overall, a speculative thesis would be the following:
Satoshi Nakamoto is one of the most important entities of the 21st Century, and will accelerate the next transition of the human race.
Trusted third parties are security holes.
Bitcoin is the catalyst for Finance 2.0, whereby value transfer is conducted in a more meritocratic and decentralised fashion.
In 1964, Russian astrophysicist Nikolai Kardashev designed the Kardashev Scale.
At the time, he was looking for signs of extraterrestrial life within cosmic signals.
The Scale has three categories, which are based on the amount of usable energy a civilisation has at its disposal, and the degree of space colonisation.
Generally, a Type 1 Civilisation has achieved mastery of its home planet (10^16W);
A Type 2 Civilisation has mastery over its solar system (10^26W);
and a Type 3 Civilisation has mastery over its Galaxy (10^36W).
We humans are a Type 0 Civilisation on this Scale.
Nonetheless, our exponential technological growth in the few decades indicates that we are somewhere between Type 0 and Type 1.
In fact, according to Carl Sagan's interpolated Kardashev Scale and recent global energy consumption, we are about 0.73.
Physicist Freeman Dyson estimated that within 200 years or so, we should attain Type 1 status.
As a technology that, through its decentralisation, links entities globally and makes value transfer between humans more efficient, Bitcoin could prove a key piece of our progression as a civilisation.
What are your thoughts?
Is it true...or false?
https://www.youtube.com/watch?v=1oQLOqpP1ZM
submitted by financeoptimum to Capitalism [link] [comments]

How To Mine Cryptocurrencies

How To Mine Cryptocurrencies

https://preview.redd.it/zy5cy18ezfz41.png?width=1200&format=png&auto=webp&s=6f519c8931a68c40f534dc3bb3d99d8d726a2758
With cryptocurrencies entering the mainstream with a bang, more and more people every single day develop an interest in this new and strange world of blockchain. A lot of these people come to cryptos because they had heard that it’s possible to make money from them. If you’re one of those people, you’re in luck, because today I want to tell you how to mine cryptocurrency.

Understanding Mining

To put it into very simple terms, crypto mining is a process in which a machine performs certain tasks to obtain a little bit of cryptocurrency. This is the biggest TL;DR possible, so let’s branch out a bit, shall we? Imagine that you have a machine that mines crypto coins. We’ll talk about the specific types of machines later on in the tutorial, but for example’s sake, let’s just say that it’s your own, personal computer and you’re trying to figure out how to mine cryptocurrency. That is a very short and simple way of defining what is cryptocurrency mining. Now let’s move on to what you came here to see; how to mine cryptocurrency.

Cryptocurrency Mining

There are a few ways you could go about cryptocurrency mining. I’ll cover the main ones here, and start from the easiest one – cloud mining.

Method #1 – Cloud Mining

If you’re looking for crypto mining ways, cloud mining is probably the most popular way to mine cryptocurrencies without having to lift a finger. Cloud mining is a process where you pay someone (most often it’s a big corporation) a specific amount of money and “rent out” their mining machine called a “rig”, and the process of mining itself. This rent lasts for an agreed-upon period, through which all of the earnings that the rig makes (minus the electricity and maintenance costs) are transferred to your cryptocurrency wallet. The people (companies) that offer these cloud mining services usually have huge mining facilities with multiple farms (tens or hundreds of rigs stacked and operating together) at their disposal and know perfectly well how to mine cryptocurrency.
Cloud mining has become so popular mainly because it offers the possibility to participate in the world of cryptocurrencies for people who might not have enough money to buy their rigs or who perhaps simply aren’t interested in owning a rig. There are two options of cloud mining – free and paid. Naturally, a lot of people that are looking for ways to mine cryptocurrency would gravitate towards the “free” options, but it does have its drawbacks (very slow mining speeds, extra conditions, etc.). Paid cloud mining usually works like this: It is usually expected that you’ll break even at around the half-a-year – one year mark, and then profit from that point onwards. No one can know for sure, though, because the prices of cryptocurrencies are very volatile and their prices tend to sway by quite a bit.

Method #2 – CPU Mining

CPU mining utilizes processors to mine cryptocurrencies. It used to be a viable option back in the day, but currently, fewer and fewer people choose this method of mining cryptocurrency daily. There are a couple of reasons why that is. First of all, CPU mining is EXTREMELY slow. You could go on for months without noticing the smallest amount of revenue. It’s also usually not worth it – you make very little amounts of money, but you probably spend ten times that amount on electricity and cooling. The problem mitigates itself by a bit if you can find a place that has nice cooling and cheap electricity bills, but that’s rarely the case.
So why do people still even use CPU mining, then?
Well, basically because anyone with a desktop computer could do it. All you need to be able to mine using the CPU method is just a computer and a couple of programs. It is possible to do it with a laptop, but it is VERY STRONGLY NOT ADVISED. Your laptop will probably fry and overheat in a matter of a couple of hours. The fact that it’s so easy to start cryptocurrency mining attracts new CPU miners every day. Some people that are looking for how to mine cryptocurrency don’t care about the details – they just want to start the process as soon as possible, and in any way possible.

Method #3 – GPU Mining

GPU mining is probably the most popular and well-known method of mining cryptocurrencies. If you google “cryptocurrency mining”, GPU rigs are going to be some of the first things that you’ll see.
Cloud miners, for example, use GPU rigs for their services. And these guys are professionals that sometimes have hundreds if not thousands of rigs, so they probably know what they’re doing, right?
GPU mining is very popular because it’s both efficient and relatively cheap. Don’t get me wrong, the construction of the rig itself tends to be costly – but when it comes to its hash speed and the general workforce, the GPU mining rig is great. GPU rigs utilize graphics cards to mine cryptocurrencies. One standard rig is made out of a processor, a motherboard, cooling, rig frame and – of course – a few (2 – 8) graphics cards.A typical price for a well-performing and nicely built GPU mining rig aims to be around the $3000 price range. It is a hefty investment but will pay off much faster than, let’s say, a CPU miner. People looking for ways to mine cryptocurrency should check them out.

Method #4 – ASIC Mining

ASICs (Application-Specific Integrated Circuits) are special devices that are designed explicitly to perform a single task, which in this case is crypto mining. ASICs are very well known and treasured because they produce insane amounts of cryptocurrency when compared to its competitors’ GPU and CPU. But if they are so good, why didn’t I mention them sooner?
Well, mostly because they’re a big subject of controversy. You see, when the ASIC company announced its new version of the machine, the announcement caused an uproar in the cryptocurrency community. Many people have called for an outright ban on these machines.
Why? Because ASICS are so powerful, they rob other miners who are using GPU or CPU rigs of the possibility to keep up both in hash speeds and in earnings. Also, ASICS have twisted the economy of certain specific cryptocurrencies – imagine if the majority of earnings would go to one miner with an ASIC farm, what kind of chaos that would ensue.

The Best Method to Mine Cryptocurrency

Now that you have an understanding of how to mine cryptocurrency and about all of the different ways to do it, which one is the best way?
The method that suits you the most depends solemnly on a few key details: are you willing to spend some initial money? If so, how much? Do you want to OWN a rig? Do you even want to do it with a rig?

Which Cryptocurrency to Mine?

Your choice of gear should also depend on the type of cryptocurrency mining that you’ve decided to do. Some of the obvious favorites would be Bitcoin, Ethereum or Dash. Keep in mind, though, that Bitcoin mining is probably the trickiest of them all – since the coin is so popular, there are many miners around the world tuning into the few pools that there are and trying to snatch at least a small bit of Bitcoin. This might result in you waiting for countless hours until the first drops of Bitcoin start coming in.
Keeping that in mind, your best bet would probably be to stick with Ethereum or some other less-popular cryptocurrency. Depending on your method of choice, check out the prices, calculate when your return on investment would happen, do some math and you’ll figure it out in no time!

Conclusion

As you’ve probably noticed, there are many different ways on how to mine cryptocurrency. These are simply the main methods – if you’d like, you could even forget about mining and jump into Bitcoin faucets – but that’s a whole different story for a whole different day. But it’s an option!
One thing that you should not only remember, but also do right away is to create a cryptocurrency wallet. Decide on the type of cryptocurrency that you want to mine and simply look up the wallet options for that currency. You’ll have no problems finding one for coins like Bitcoin, Ethereum or Litecoin, but if you want to mine the less-known currencies, then you might need to search for a bit until you find a reputable wallet.
Getting a secure and reputable wallet is the most important task when you’re starting with cryptocurrency mining. Imagine if you’d be mining for a year and all of your savings would be stolen only because you didn’t pay enough attention while choosing the wallet and picked a fishy one that got hacked into.
If you’re serious and are looking for ways on how to mine cryptocurrency, I would suggest buying a hardware wallet – they are the safest and most trustworthy cryptocurrency wallets out there.
Well, this is the end of my tutorial on crypto mining. We’ve covered a few different topics and explored the different varieties of cryptocurrency mining methods. Remember – the method that suits you the most will depend solemnly on what you want and what kind of resources you have, so choose carefully! If you do decide on giving mining a chance, I wish you the best of luck!
submitted by everus-world to u/everus-world [link] [comments]

Epic Cash Vitex Exchange AMA

What is EPIC CASH?
Epic Cash is the final point in the journey toward true P2P internet cash, the cornerstone of a private financial system. The Epic currency aims to become the world’s most effective privacy-protecting form of digital money. In order to fulfill that goal, it satisfies the three principal functions of money:
1. Store of Value — can be saved, retrieved, and exchanged at a later time, and of predictable value when retrieved;
2. Medium of Exchange — anything accepted as representing a standard of value and exchangeable for goods or services;
3. Unit of Account — the unit by which the value of a thing is accounted for and compared.
Website: http://epic.tech Whitepapers: http://epic.tech/whitepaper Epic Cash Community: https://t.me/EpicCash Miner Chat: https://t.me/EpicMiners Gitlab: gitlab.com/epiccash Twitter: twitter.com/EpicCashTech Social Media: http://epic.tech/social-media Exchanges: https://epic.tech/service-list
Oleg✌🏻
Hello community! Our AMA with EPIC begins🚀 We are very happy to have you here, on our joint AMA👌 So, lets start! The very first question for you. Can you introduce yourself?
Max Freeman | Epic Cash | Mimblewimble I’m Max Freeman, which stands for “Maximum Freedom for Mankind” — we believe that the existing fiat money system enslaves people by unfairly confiscating their wealth through inflation. By using an honest money system such as Epic, we can improve the quality of life for billions of people worldwide.
Yoga Dude Hello, I am Yoga Dude 🙂 I handle Marketing and PR, in crypto since 2011 started as Bitcoin miner, and in 2014 in Monero, and in 2015 in Ethereum, oh and briefly in DOGE for fun and unexpected profit. Heard about Epic Cash while learning about the Mimblewimble algo and joined the team last year.
JLong I am John, Doing the general engineering and managerial work
Max Freeman | Epic Cash | Mimblewimble I have been involved in early stage cryptos for the past 3 years, after building a global trading business for the past 20 years.
Oleg✌🏻 nice to meet you🙂
Max Freeman | Epic Cash | Mimblewimble Epic is a decentralized community project like Bitcoin or Monero, there is no central authority or corporation involved. We had no ICO and no premine, we had a fair launch at 0 supply last September.
Yoga Dude Great to meet everyone :)
Oleg✌🏻 Here we go the 1st question for you ~ 1. What is Epic Cash about?
Yoga Dude Epic Cash is designed to fulfill Satoshi’s original vision of P2P electronic cash, adjusting for what we learned from Bitcoin, a medium of exchange that is fast, free, open to all, while being private and fungible. We launched in September 2019 as a Proof of Work mineable crypto, without an ICO or a premine.
Oleg✌🏻 Look like a real Bitcoin🙂
Yoga Dude with privacy and fungibility 😄
Oleg✌🏻 Sounds cool! move on to the next question… 2. What makes Epic Cash better than Monero or other privacy coins?
Max Freeman | Epic Cash | Mimblewimble First off, we have a lot of respect for Monero and other privacy coins, we learned a lot from what they did right and what they did wrong, Our blockchain is much lighter than Monero or Bitcoin, our transaction engine is faster than Monero or ZCash. We use a three mining algo approach to allow more users the ability to obtain Epic Cash. We are a new, highly undervalued, coin and we look great not only for future use but for today's investment. Our blockchain is 90+% smaller than Monero or Bitcoin. Coins such as Zcash have optional privacy. Epic makes all transactions private, and it is impossible to trace movements of coins by watching wallet addresses.
Oleg✌🏻 Young and hot😋 security and privacy level is very important now but… 3. Why copy the same supply economics as Bitcoin?
Yoga Dude It is hard to compete with the success of Bitcoin today, part of the elegance and the appeal of Bitcoin is the responsible emission rate, terminating at 21million highly sub dividable coins. Like the Bitcoin supply curve, Epic Cash encourages early adopters, and with subsequent halvenings maintains a gradually diminishing flow of additional currency while preserving the overall value.
Max Freeman | Epic Cash | Mimblewimble In 2028, the supply of Epic matches that of Bitcoin and they stay in sync until the final coin is mined in 2140. We have 4 halvenings between now and then, which is demonstrated in Bitcoin to drive the value over market cycles. Epic is a chance for people who were late to Bitcoin to ride the wave and not miss their opportunity this time.
Oleg✌🏻 Interesting! 4. Why Choose Epic Cash over Grin and Beam?
Max Freeman | Epic Cash | Mimblewimble First of all, we have tremendous respect for all Mimblewimble currencies and their talented teams, they all taught us a lot and we are thankful for that. Without sounding too contentious, the choice seems obvious. We offer the same core tech, but with a much more responsible emission curve — Grin is an endless fountain of emission and inflation (60 per second forever), and Beam is even more frontloaded outpacing even Grin’s aggressive emission schedule for the next several years… We respect Grin and Beam, we learned from them, and we believe we are the next evolutionary step. Additionally, as we mentioned earlier, we offer more ways to mine Epic Cash, both with GPU and CPU and ASICs, this gives us more potential users and miners, vs Grin and Beam that are only mineable with GPUs.
Yoga Dude Yes, all that ☝️😄
Oleg✌🏻 I hope the miners read it all carefully 👌 Next question 5. Why have a development fund tax and what will it be used for?
Yoga Dude Dev fund tax today is at a reasonable 7.77% dropping by 1.11% every year until it hits zero. As Epic Cash grows in value these funds will become increasingly more relevant in additional technical, marketing, and fintech partnerships developments.
Oleg✌🏻 Very smart! 6. What is the advantage of 3 mining algorithms?
Max Freeman | Epic Cash | Mimblewimble By having multiple mining algorithms we are able to attract CPU, GPU, and ASIC miners simultaneously. Currently all other Mimblewimble currencies are mineable with GPU only ignoring a large segment of CPU miners. Monero made a splash migrating to the RandomX CPU mining algo. Epic Cash from the beginning embraces all mining communities. Many miners are successfully using older hardware such as Xeon processors to help secure the network. We use RandomX for CPU, ProgPow for GPU, and Cuckoo for ASIC.
Longer term, our flexible architecture means we can have many algorithms, not just 3. Our roadmap includes an allocation for SHA3 Keccak, which will help further decentralize the network and keep it unstoppable.
Yoga Dude We love miners 🙂 and Epic Cash can be mined with laptops and gaming rigs 🙂
Oleg✌🏻 A wide selection of mining methods is a great way to create a stable, decentralized and large network👌 Let’s talk about persons… 7. Who are the people developing Epic Cash?
Yoga Dude We are blessed with a very talented team of skilled developers with diverse backgrounds, many of them are volunteers who believe in what Epic Cash stands for and contribute with product and usability innovation. Our teams main focus is to make Epic Cash the best, most secure, most user friendly and usable product on the market, without making it unnecessarily techie, with as much mainstream user appeal as possible. This is a serious challenge but we are up for it 😄
Max Freeman | Epic Cash | Mimblewimble It is also important to note that we are a truly open ecosystem that anyone can participate in. Our community has developed wallets, mining pools, educational content, and much else besides. We are not limited by the funding generated during an ICO or VC investment, our users are an essential element of our team.
Oleg✌🏻 Sounds very attractive. 8. What do you think is currently lack in today’s crypto?
Max Freeman | Epic Cash | Mimblewimble We believe there is not enough privacy, anonymity and fungibility, although there is a growing awareness in the community as to why these are necessary. People are waking up to the fact that privacy is a right for everyone but today it is being exploited and violated by corporations, governments and unscrupulous individuals. Privacy does not mean that you have something to hide. We have doors on our houses, curtains on our windows, we wear clothes, and we have security on our bank accounts and businesses, not because we are criminals.
Fungibility (the property of not being able to distinguish one unit of currency from another) also has become a hot issue as people have started to get in trouble because of someone else’s misdeeds. Tainted money (coins that are blacklisted or restricted) is a problem for Bitcoin and Ethereum, the top two cryptos today. Mimblewimble eliminates the risk of tainted coins making them indistinguishable from each other. With traceable coins, you always have to worry if the coins you are getting were involved in a hack, or perhaps the darknet.
Oleg✌🏻 It’s good to see strong and safe coin in our time Let’s talk about your future… 9. What does the Epic Cash roadmap look like going forward?
Yoga Dude First and foremost, we are focused on security and usability.
We are working on a new, improved GUI wallet to incorporate the community feedback on ways to improve it.
We are in the process of completing final testing phases for the next iteration of Epic Cash which will make it more secure and stable. Once that is done, we will be rolling out Android and iOS support to make Epic Cash usable on leading smartphones and smartwatches. Beyond that without going into too much detail we are focused on continuous evolution of privacy, ease of mining, and overall speed and usability.
And of course we are constantly looking to add more exchanges both with and without KYC.
Oleg✌🏻 Are you working on Android and IOS wallet ? What will your application be?
Max Freeman | Epic Cash | Mimblewimble Yes, we will release a mobile wallet this year. It will bring us one step closer to people being able to actually use cryptocurrency as money in daily life.
Yoga Dude The idea is to be able to access Epic Cash from any platform and device
Max Freeman | Epic Cash | Mimblewimble Epic is very lightweight, which means that low-end devices such as smartwatches can participate.
Oleg✌🏻 Ok, got it. Thanks for clarification! 10. What else can you tell us about Epic Cash?
Max Freeman | Epic Cash | Mimblewimble Well one thing I really want to mention is our great Epic Cash community. We’ve been building a decentralized community organically, without the talk of price pumps, pressure to HODL and other BS crypto-gimmicks. Our community is truly global and consists of developers, volunteers, miners, and other Epic enthusiasts spreading the word about Epic Cash, helping us reach millions of people around the world to improve their quality of life through social media and directly. Everyone is an evangelist, everyone is an influencer, everyone has the power to make the world a better place to live in. As we continue to grow — the future looks Epic 😊
Yoga Dude Definitely the community! We got a talented crowd of very cool and motivated people from all over the world!
Oleg✌🏻 Thank you guys, for such informative answers 🙂 Now we proceed to Section 3, where a Community can ask their questions to the EPIC team Now I’ll open chat for the quite some time … Oleg✌🏻 Thank you all, dear community! EPIC team, please choose the 10 best questions you want to answer.
AngeI Everyone likes Privacy & Epic Cash provides their Best Privacy to users But, Which Technologies are being used by Epic Cash to make Blockchain very Private and Completely untrackable ?
Max Freeman | Epic Cash | Mimblewimble From the wallet to the node, Epic uses Dandelion++ to bounce transactions around the world before they go into the mempool for mining. Within the blockchain itself, Cut-Through merges all transactions in a block together, with CoinJoin automatically mixing all coins.
Beyond that, there are no addresses, so it’s impossible to watch someone’s wallet.
Arnold Even litecoin is implementing mimblewimble, Don’t you think it’s a significant threat for Epic if they implement it, then why would anyone use a less popular and a new cryptocurrency.
Max Freeman | Epic Cash | Mimblewimble LTC is implementing mw as an “extension block”, meaning that it is optional and not all transactions will use it. This is very different than the core protocol leveraging mw to make all transactions private and all coins fungible.
Aluta Why Epic cash so much focus on fungibility? Does fungibility matters that much?
Max Freeman | Epic Cash | Mimblewimble Fungibility is going to be one of the key issues within the cryptocurrency space in the coming years. Today, if you accept traceable coins from a seller, you are liable if they have ever been used in any illegal activity. This has led to a two tier market where freshly minted coins sell for more than circulated coins. When coins are fungible, like Epic, you don’t have to worry that you will run into a problem when an exchange or merchant blocks your transaction.
Joxes It is a pleasure.
When I first researched EpicCash, google showed me a youtube video that talked about how to mine with EpicCash. It made me ask: is this mining activity profitable so far?
We are in the early stages of development I guess, what adoption strategies are you taking to have sustained growth? is it feasible to reach N ° 500 rank in coinmarketcap in the medium term?
Yoga Dude When I got into crypto, it was by mining Bitcoin back in 2011 when you could still solve blocks on a single computer, but Bitcoin at the time was anything but profitable 😄 Today Epic Cash is still new, still young, and still undervalued. I believe it is mining-worthy because of its potential, not because of today’s price. By allowing Epic Cash to be mined with GPU and CPU on gaming rigs, servers, and even laptops we offer maximum public participation in our project. More people involved in the project, the more evangelists there are. We empower people to mine Epic Cash and to promote it.
S.P.A.D.E What new features of Epic Cash provide that Grin or Beam does not offer. Why do we need Epic Cash?
Max Freeman | Epic Cash | Mimblewimble They are great coins, but there are some ways in which Epic improves. Epic has better tokenomics than Grin and a more sustainable model than Beam, that has a company behind it that needs to repay investors via its high dev tax. this article explains in more detail https://medium.com/@frodofreeman/overview-of-mimblewimble-cryptocurrencies-7c70be146f50
Sahil What’s the Minimum Hardware / setup Required for Mining of EPIC Cash coins? Is Mining Profitable and Can we Mine EPIC Cash coins at Home?
Max Freeman | Epic Cash | Mimblewimble It is possible to mine on an ordinary laptop or desktop from the last 5 years, sometimes older. Epic is open to everyone, and our friendly community is standing by to help you get started at t.me/epicminers
Erven James Sato “TOKEN BURN” is BENEFECIAL for any projects, in able to CONTROL THE NUMBER OF TOKEN CIRCULATION and TO PROVIDE GREATER INCENTIVES TO INVESTORS.
Does your GREAT PROJECT have plan about TOKEN BURN?
Xenolink For deflating projects It is beneficial to drive the demand / scarcity / and price up in a faster pace. Epic Cash is here for the organic long run not the short run. However when it comes to long term economics elastic supplies whether inflating or deflating will not be a solid long term economic model. This has been heavily discussed already with Bitcoins inelastic Fixed 21 million supply in the past. Having a fixed model demonstrates good long term economics without worrying about balancing a deflating/inflating model. Bitcoin is a perfect example of a 21 million inelastic fixed supply model that has been proving itself till today. Which is why we are also using the same fixed 21 million supply model. Epic Cash plans to have a solid organic long term future to bring free private fungible money and make this world a better place.
Red Z🔥🤙 No one predicted the COVID-19 pandemic while developing their business model. But the crisis and recession of the global economy is our present with you and it affects all sectors, including blockchain. Will you make or have already made changes to the project roadmap, tokenomics? Do you have a plan in case the situation does not improve in the coming months and will affect the crypto industry even more?
Yoga Dude One thing we have seen as the result of the COVID-19 is more governments are talking about moving to digital cash — digital dollar in USA, digital Lira in Turkey, etc… If in the past the idea of digital money was not graspable by some people, today its the governments that are educating the people for us about the value of digital currency… What is ironic, the governments, by printing money to solve the economic consequences of COVID-19 also educating the consumer about the true “value” of fiat… What we offer is a touch free, borderless, private, anonymous, fungible currency that can not be printed beyond the initial defined algo. We are more responsible than the printing presses of the governments 🤔
kunlefighter How does the Dandelion++ Protocol, Confidential Transactions (CT) and CoinJoin assist in protecting the privacy of individuals and their transactions on Epic Cash Blockchain?
Max Freeman | Epic Cash | Mimblewimble Dandelion++ bounces transactions around before committing them to the blockchain, making it impossible to determine where they originated from. Confidential Transactions means that all tx are private, you can’t tell anything about where the coins have been or who they belonged to. CoinJoin in essence melts down and re-mints each coin every time it is used, making it impossible to track their ownership or usage history. Epic provides comprehensive privacy to everyone, without the compromises that other pre-mimblewimble coins have.
Dr Mönica Hello sir @maxfreeman4 @Johnsstec @Yogadude
Thanks for the ama I notice that Epic Cash has 2 type of new algorithm, progPoW version 0.15.0 and randomX version 1.0.3 NOW , CAN you tell me why you choose these 2 algorithm???
Yoga Dude We went with RandomX because it is a solid and very popular CPU centric algo used by several coins — most recently Monero. Most miners today heavily favor ASICs or GPUs, leaving a lot of solid high end users in the dust unable to mine emerging cryptos. As far as ProgPow, again its an established algo for GPU miners, and thanks to many cryptos starting with Bitcoin/Monero/Ethe etc there is no shortage of GPU rigs out there :) plus again the casual user with a video gaming caliber card can get in on the action.
Oleg✌🏻 Perfect! It was a great AMA, but it is coming to an end, thanks to everyone who was with us. Thanks EPIC team for taking the time👏. I hope our projects will be able to collaborate even more closely in the future and achieve new successes. Cheers!🎉
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How to mine Bitcoin with Mining Rig Rentals - YouTube wooden mining rig frame build bitcoin How To Build a Crypto GPU Mining Rig With $1000 or Less! Duo Miner! Beginner Guide ETH/Beam/Zcoin MERAKIT  Mesin Coin Digital  Bitcoin Mining Rig GPU How to build a Bitcoin Mining Rig!!!! 2020

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How to mine Bitcoin with Mining Rig Rentals - YouTube

I built a wooden mining rig frame for free with scrap wood. A nice little DIY project to help keep my cards cool as i mine for that sweet crypto. This setup currently only mines zcash and bitcoin ... In this tutorial, I will show you how to build a mining rig step by step. In this tutorial, I will show you how to build a mining rig step by step. ... Bitcoin Explained Simply for Dummies ... Here is the followup to my custom HVAC cooling solution video. Here I briefly show the insides of our mining rig setup. Buying a $800 Pre-built Bitcoin Cryptocurrency Mining Rig? Coinmine One Review - Duration: 21:13. VoskCoin 61,480 views. 21:13. Build A Mining Rig In 10 Minutes - Duration: 17:22. How to build an 8 GPU Mining Rig. Specifications of the rig I build in this video: Motherboard: Asus Z270-P CPU: G3900 Skylake Celeron Ram: 4GB DDR4 Mircon GPU: 8X RX580 8G Powercolor Red Devil ...

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