That celebrity-endorsed bitcoin ad is probably a scam

12-27 01:13 - 'Nothing. Litecoin is a scam. / Luke Dashjr offers a good critique: [link] / Of course, since that post was made, Litecoin now has ASIC mining, and the hardware is sold by Bitmain. That's yet another reason to avoid it.' by /u/marthor removed from /r/Bitcoin within 0-4min

'''
Nothing. Litecoin is a scam.
Luke Dashjr offers a good critique: [link]1
Of course, since that post was made, Litecoin now has ASIC mining, and the hardware is sold by Bitmain. That's yet another reason to avoid it.
'''
Context Link
Go1dfish undelete link
unreddit undelete link
Author: marthor
1: https://bitcointalk.org/index.php?topic=23768.msg3815348#msg3815348
submitted by removalbot to removalbot [link] [comments]

Arcticminers.com SCAM Website Review

Hello, fellow redditors,
I have been scammed by the website mentioned above, they claim to sell a wide variety of cryptocurrency ASIC miners, but are actually just plain scammers.
A little over a month ago I placed an order on their website for 2 Antminers S19 Pro and followed the instructions to pay with Bitcoin as they offer free shipping on orders paid with crypto, everything went smooth until the payment was confirmed, they told me they were going to provide me with a tracking number in the next few days and that is the last time I heard from them. Since then I wrote them numerous emails, tried contacting them in their Live Chat, but they do not answer me, they ignore my messages.
I tried to contact them as a new customer with different names and they responded, but as soon as I revealed myself and asked for information about my order, they stopped replying. I tried calling them on the phone, but it seems that they have posted a fake number because it couldn't reach anyone. I searched around the web for their company, but couldn't find anything about them, they claim to be a part of a holding company, but sadly that is not true, there are no such companies in Norway, where they claim to be located.
All of this was verry stressful to me, but I still haven't given up on demanding for my money. If anyone can help with advice what to do that would be great! I hope this thread is seen by people who were planning on purchasing from them and help them make the right decision. Be smart guys and don't make my mistakes or else you will lose your money.

submitted by Brmininer to Scams [link] [comments]

What do you guys think about the possibility of using lots of Arduinos to possibly replace expensive GPU's in bitcoin mining

I'm not sure what I'm talking about here too much but I'm pained to see expensive GPU's that the ultra-rich buy in the thousands and mine so much bitcoin.
My attempts of bitcoin mining with my PC were a failure because my 4GB GPU is not strong enough at all
Renting ASIC miners are mostly scams and I will not get much return
The one thing I'm forced to go to is to make my own GPU by my self and see if there is a possibility of working a with a general PC
As far as I'm aware this has never been done before and by no means do I expect an Arduino graphics card to be as strong as an early 2000's GPU but my thinking is: If I can buy the components for a cheap price then I can assemble an array of weak GPU's to become a far stronger one

If this whole idea is a flop and there is no real way to make money, I want to use this as a learning experience
So the first thing I want is a discussion on whether or not this could even achieve and become compatible with a PC. Whether it be a gaming PC or a raspberry Pi
The next is some sources on how GPU's work and their pinout and whatnot
I really don't expect any positive comments in this comment section since what I'm thinking of doing is near enough outrageous Xd
submitted by HShahzad108277 to arduino [link] [comments]

Hello subreddit !!!!..

My name's Plankton,
I've been with Electroneum since the ICO of September 2017 as many of you have. I was a complete newbie back then. I knew absolutely nothing about cryptocurrency. So, I started to do research and didn't find what I needed to know. That changed entirely when I finally came across the official ETN Community Forum on September 1, 2018. I felt like I'd found my "home."
The community members knew everything I needed to know. It was and continues to be an amazing place to be. I made some fantastic friends from all over the world because of that forum. Since then, I've joined several different chat groups, and I've learned so much from listening to the community members and still learning as the cryptosphere is rapidly transforming.
We all know that crypto is the future. The dominance of fiat will not be around much longer. We've seen banks and governments change direction surprisingly fast, going from adamantly rejecting digital currencies, to accepting it rather quickly. And that's all down to communities like this one. Regulations got in the way, screwed things up for a lot of cryptocurrencies. The ICO boom and Bitcoin price peak of 2017 made and lost a lot of money for people. Some projects survived the crypto winter that ensured, and others disappeared into the night with people's money. Some scams, unfortunately, remain, which means we have to very vigilant and suspicious giveaways. The most common are those that ask you to send them Ethereum, for example, promising to send you back tenfold. Too good to be true! Yet, some people fall for these scams in a desperate attempt to make a quick quid.
That is another reason why I like ETN. Before working with NGOs, we had GPU miners and ASIC miners, which were an issue because they were dumping all their ETN block rewards back to the market.
Unlike what a few out there are saying, Electroneum is far from being a charity. It is a business, and they solve real problems for people in developing countries, particularly for the financially excluded and unbanked.
I chose to promote ETN as far and as wide as possible. I enjoy being part of the crypto community in general and, in particular, helping community members on Twitter, Telegram, and now on Reddit.
I've seen all the changes: the highs and the lows. I've been on that rollercoaster ride too. It's been fun a massive learning curve for me, and no matter what happens, I'll have learned so much from this journey.
The miner has come and gone. We now have an Electroneum app, a freelance platform called AnyTask.com they also have ETNdonate.com, ETNeverywhere.com, and soon, TaskSchool.com. From my viewpoint, things look great for Electroneum and its community.
A lot of people focus vastly on the price. They do not care about development, nor financial inclusion, NGOs, or the unbanked. They are solely in for the profit, regardless. I, personally, look into the future. Sure, price is important, but I have all the faith that it will improve in time. The team is doing a fantastic job building a real crypto ecosystem like no other.
I applaud the team for what they have achieved in under 3 years . They're a fantastic bunch. But I also have massive respect for the community as it has been very supportive and critical to growth . 🤝
Thankyou for your time.
Plankton.
submitted by Plankton_Etn to Electroneum [link] [comments]

Cryptosoft Review 2020-Is it a Scam?

Cryptosoft Review 2020-Is it a Scam?

Most f the reviews we tend to have come back across reveal that the Cryptp soft platform is easy to
Their client service is very efficient. We did a live check and confirmed that they respond at intervals a moment. Moreover, they are available 24/7.
The Cryptp soft app is secure. They need all the mandatory measures in place to make sure data privacy.
The Cryptp soft System is considered by several among the most effective robots within the market nowadays. We have a tendency to realize this robot to perform virtually the same with Bitcoin Rush, another top bitcoin robot. Read the review of Bitcoin Rush for more data?
Cryptp soft registration method is straightforward, easy, and secure. You only want but 10 minutes to form an account and begin trading. Cryptp soft is a absolutely auto bot and is so accessible to everyone.

https://preview.redd.it/giu6kclgfnn51.jpg?width=1280&format=pjpg&auto=webp&s=f605d84ba2174f831ca825dbaffddf061b3a55b5
You do not want to perceive trading lingo to use Immediate Edge. The following steps can get you started with this robot.
STEP ONE: Fill the Signup type

Visit the Cryptp soft home page and register your name, phone number, and email in the provided kind. You will be asked to verify your phone variety via a text code and email through a link. CryptoVibes will ascertain that the Cryptp soft registration process is secure.

Their web site is SSL secured to confirm that hackers cannot steal personal information submitted through it. Cryptp soft cyber safety policy states that they're GDPR adherent. This suggests that they handle your knowledge with strict privacy.
STEP TWO: Get matched with a broker

The Cryptp soft Software then matches you with one in every of their partner brokers. The role of the broker is to receive deposits and facilitate transactions. We have a tendency to have determined that Cryptp soft only partners with regulated brokers.

With a regulated broker, they guarantee that your cash is safe. Reputable regulators such as the FCA, FSB, ASIC, and CySEC need brokers to segregate deposits and submit periodic reports on deposit usage.
You wold like a deposit of a minimum of $250 to trade with Immediate Edge. Do not confuse this quantity with the value of the robot. Cryptp soft does not need any license fee. The house owners of this robot build money by charging a small commission on the profits generated through the app
Deposits with Cryptp soft should be created through Wire Transfer, Visa, and MasterCard. It takes a few seconds for a deposit to reflect in an exceedingly trader’s account. Cryptp soft does not charge any deposit fees.
The Cryptp soft does provide a demo account to help traders familiarize themselves with its web-trader. CryptoVibes recommends that you are doing demo trading before going to live to trade. Please note that the demo is for demonstrative purposes solely.
The results you receive on the platform are primarily based on historical information and could therefore not mirror what you'll get in live trading.
The Cryptp soft live trader comes with features to help you outline the amount of risk you are willing to require per trade. You wish to go through the demo account to familiarize with these features. As mentioned severally in this review, you do not want specialized skills to use this robot.
Live trading with Cryptp soft involves determining the quantity of capital you plan to risk per trade and clicking the live button. Scan our review of Bitcoin Trader for one more straightforward to use the robot.
*Remember all trading risks and you shouldn’t risk more then you'll be able to afford to lose.
How to get the most out of Cryptp soft App
We have identified the following tips as paramount in guaranteeing that you make the most of Immediate Edge.
Begin with a deposit of $250 – Given the level of risk involved in trading with Immediate Edge, you should start with a tiny investment.
Follow crypto market news – You need to determine the type of reports that drives volatility high and capitalize on them. Cryptp soft claims to form the foremost profits throughout high market volatility.
Trade for eight hours per day – In keeping with Immediate Edge, trading for at least eight hours per day can help maximize profits. Cryptp soft is entirely auto, and hence you'll be able to leave the robot running as you continue together with your daily errands. You are doing not want more than twenty minutes per day to observe your account.
Close trading sessions at the tip of the day – Leaving open positions overnight is doubtless to translate to losses since the markets can change considerably overnight. It is better to shut sessions even if in the negative and start trading again the subsequent day. With a correct risk management strategy, there is no would like to fret concerning periodic losses.
Following our review we tend to realize Cryptp soft to be legit. But, traders ought to take additional caution, provided that this bot comes at a degree of risk. Whereas the app claims it's potential to form profits of up to 50percent per day, you'll be able to additionally lose the complete deposit inside seconds. This is often not sudden for a high-frequency trading robot.
We recommend that you just apply the required risk management measures. As a rule of thumb don't risk more than 10percent of your trading capital per trade. Also, never trade with an amount you cannot afford to lose. It is prudent to start small and add cash as you get conversant with the various features on the platform.
Recently, a brand new trading software was added to the bitcoin investment trade. This software is termed Cryptp soft and it is allegedly created by a corporation or organization called the International Council for Bitcoin.
There is additionally a letter out there on their web site that has been signed by someone named David. This person claims to own earned over 1,000,000 as a results of investing in bitcoins. What’s very shocking concerning this letter is that David claims to have earned that huge quantity in just one trade. If we have a tendency to place it in simple words, David became a millionaire overnight.
We tend to highly doubt that a trading system that has been launched recently will have such potential. To verify the main points of this software and to determine its legitimacy, we have a tendency to conducted our own research and investigation.
Cryptp soft is a bitcoin trading software that’s meant to assist newbie traders get involved in Cryptocurrency trading with less risk than ancient investment opportunities. Cryptp soft software was created by The International Council For Bitcoin who is PRO Bitcoin trader Group behind the Cryptp soft software. Notice out all concerning Cryptp soft software by The International Council For Bitcoin.
Cryptp soft Software may be a nice development by a famous, well established and experienced bitcoin trader Investors with a viewpoint to enable traders to perform different tasks with ease and convenience.

https://preview.redd.it/uuh85yghfnn51.png?width=1238&format=png&auto=webp&s=d0558e6e123114b6624d5a724b3b9b5983e717e1
Cryptp soft Software is essentially a Binary choices trading software that is designed to assist traders win and predict the Binary options trend of their respective choices. Cryptp soft APP works as a code to urge financial success, shows traders how they'll make money on-line, helps them to find different ways in which to induce huge returns on their investment. The Cryptp soft Trading Software additionally provides analyses of Market conditions so that traders will recognize what ought to be their next step. Cryptp soft System gives secret cryptocurrency ways that ultimately help binary traders to create thousands of greenbacks solely for some bucks.
Several individuals can say that Cryptocurrency Trading may be a risky business and tend to remain faraway from it. But from my expertise, high volatility means HIGH RETURN OF INVESTMENT in Crypto Market. But this can be where the Cryptp soft comes into play, the mathematical algorithm used by Cryptp soft Software takes the guesswork out choosing a winning profitable trade. You don’t must be an expert. Like I said earlier, I actually have personally tested the Cryptp soft and found the success rate is about ninety sevenpercent. I don’t apprehend concerning you, but a ninety seven% probability of earning a profitable trade is TERRIBLY GOOD! I’ve never come across something like this trading software before. Keep reading, below are my Cryptp soft results for the past week or so…
Watch over the Shoulder of a Professional Each Day and you'll be able to learn as you trade.
Averaging 97% Winning Weeks With Cryptp soft which suggests that more potential profits for you
Cryptp soft Software Are Fully Transparent
No previous experience with binary choices trading required
Web-based mostly, no need for downloads, additionally works on phones, tablets
You'll be able to Even Watch Cryptp soft Signals From Your Phone (iPhone Users — Photon Browser)
If you are ready to begin making cash online with an on the spot edge, there has never been a better chance than currently. If you enjoy surfing the web for countless hours trying for the next Trading Method Secrets, never being able to urge centered, being overloaded with conflicting information, and not creating cash on-line, you ought to probably leave this page right now and get back to that Cryptp soft System strategy
Cryptp soft bot could be a new cryptocurrency trading invention that comes with options that create this software stand out among others. It is conjointly an automatic trading platform that uses a smart program algorithm to detect favorable trading opportunities. It acts on its own or waits for a prompt command from the user depending on the software’s settings. But what makes this software unique and a favorite to individuals is what we have a tendency to shall unveil in this review.
There have been lots of unverified claims of how totally different cryptocurrency software have helped several people to make massive profits leading to Scam individuals. However, it's pertinent for cryptocurrency traders to verify if a particular trading software may be a scam or legit, which is also ?
After subjecting the features of the Cryptp soft bot software to a series of tests, the software isn't a scam however legit. The Cryptp soft bot is believed to have successful rate of 85%, that is a lot of than the 80percent benchmark for average software. The Cryptp soft bot has helped cryptocurrency traders to make sensible profits, which has been documented as testimonies on the software’s website.
Trading on the platform is straightforward and might not require experience. We had to verify the simplicity of the software, and we tend to discovered that the software is easy to navigate. The demo trading feature of the software makes it potential for brand new users to hold out trading activities in an exceedingly simulated atmosphere while not having to risk their investment. This any gives credence to the legitimacy of the software because it ensures that new users get accustomed to the features of the software before continuing to measure to trade
As earlier stated, the Cryptp soft bot could be a high-tech program software that comes with exceptional options that makes it among the simplest cryptocurrency trading software in the blockchain market. The outstanding features of the Cryptp soft bot embody the subsequent:
https://www.cryptoerapro.com/cryptosoft/

http://www.cryptoerapro.com/

https://twitter.com/cryptoerapro

https://www.instagram.com/cryptoerapro/

https://www.pinterest.co.uk/cryptoerapro/
submitted by cryptoerapro to u/cryptoerapro [link] [comments]

Atlas Rising: Utilizing Solar Energy for Crypto Mining

Before I acquired a better knowledge of blockchain technology, I almost got scammed by unscrupulous fellows who promised to help me secure a Bitcoin mining app for a fee. The supposed app was to be minting few satoshi everyday for me by just keeping it running on my android phone. I almost fell for this scam until I read about the rigorous process involved in mining bitcoin. Many people have lost their hard earned money to these fraudsters who paraded themselves as blockchain miners.
The other way people lose their funds is through investing on cryptocurrencies that are not promising. Most people never bother to do a background check on the type of crypto they want to buy and hold. After buying the crypto with their hard-earned money, hoping to make an appreciable gain later on, they discover that the price of the crypto plunges instead of rising.
Blockchain technology has not received a worldwide adoption due to these underlying factors that scare many people away, and depriving them of the benefits of using the technology.
Atlas Rising created a project, the first of its kind, that functions more like a mutual fund and also utilizes solar energy. The project will utilize solar energy to mine cryptocurrency in order to reduce cost and environmental pollution. Atlas Rising is giving everyone an opportunity to invest into a more sustainable future via blockchain technology.
Barriers Preventing Mass Adoption of Blockchain
Mining of cryptocurrency is known to be electricity consuming. Many people have raised their concerns over the outrageous rate at which the ASIC miners consume part of the world's electricity. Also it is worrisome that the energy expended while using the ASIC miners can not be renewed. The cost of electricity has made the mining unprofitable to entrepreneurs who attempted to use the mining devices.
Blockchain is perceived by a large percentage of people as a subject for only the technology savvy. They do not want to dabble into what they know nothing or a little about. This has slowed down the mainstream adoption of blockchain technology.
Cryptocurrency market is still volatile. Unlike the conventional currencies that are more stable, cryptocurrencies are susceptible to inflation.
Atlas Rising Benefits Atlas Rising is making use of green energy that is 100% renewable to mine cryptos. The solar plants will have the capacity to generate sufficient energy that is independent on the world's electricity. One of such solar projects of Atlas Rising is an 85,000 square foot warehouse which can generate up to 2,400,000 watts of power after installing solar panels on its rooftop.

Rising Token The native token used on the Atlas Rising ecosystem is named Rising Token. Atlas Rising is making it possible for people to receive rewards that are generated through the solar arrays in Bitcoin. Holders of Rising token are entitled to receive this Bitcoin rewards. In order to ensure that individuals hold Rising token for the long term, and to discourage pump and dumb, the token will only be listed on an exchange after sustainable net assets.
Conclusion Blockchain is not adopted worldwide yet largely due to the misconception of many people about it. Some are of the opinion that it takes being a tech-savvy before one can invest in cryptocurrency. They believe that until you get the expertise and adequate knowledge, you cannot dabble into Blockchain. Atlas Rising is using its team which comprises experienced crypto miners and entrepreneurs to help people to choose the best cryptos with potential for growth and profits. Atlas Rising is also making use of solar energy to mine cryptocurrencies to reduce cost, eliminate pollution and shed miners' power loads form the world's electricity.
For more information, click on the link below:
Atlas Rising Website Whitepaper
submitted by Jimohwasiu to subreddit [link] [comments]

Binary Options Review; Best Binary Options Brokers

Binary Options Review; Best Binary Options Brokers

Binary Options Review; Best Binary Options Brokers
We have compared the best regulated binary options brokers and platforms in May 2020 and created this top list. Every binary options company here has been personally reviewed by us to help you find the best binary options platform for both beginners and experts. The broker comparison list below shows which binary trading sites came out on top based on different criteria.
You can put different trading signals into consideration such as using payout (maximum returns), minimum deposit, bonus offers, or if the operator is regulated or not. You can also read full reviews of each broker, helping you make the best choice. This review is to ensure traders don't lose money in their trading account.
How to Compare Brokers and Platforms
In order to trade binary options, you need to engage the services of a binary options broker that accepts clients from your country e.g. check US trade requirements if you are in the United States. Here at bitcoinbinaryoptionsreview.com, we have provided all the best comparison factors that will help you select which trading broker to open an account with. We have also looked at our most popular or frequently asked questions, and have noted that these are important factors when traders are comparing different brokers:
  1. What is the Minimum Deposit? (These range from $5 or $10 up to $250)
  2. Are they regulated or licensed, and with which regulator?
  3. Can I open a Demo Account?
  4. Is there a signals service, and is it free?
  5. Can I trade on my mobile phone and is there a mobile app?
  6. Is there a Bonus available for new trader accounts? What are the Terms and
  7. conditions?
  8. Who has the best binary trading platform? Do you need high detail charts with technical analysis indicators?
  9. Which broker has the best asset lists? Do they offer forex, cryptocurrency, commodities, indices, and stocks – and how many of each?
  10. Which broker has the largest range of expiry times (30 seconds, 60 seconds, end of the day, long term, etc?)
  11. How much is the minimum trade size or amount?
  12. What types of options are available? (Touch, Ladder, Boundary, Pairs, etc)
  13. Additional Tools – Like Early closure or Metatrader 4 (Mt4) plugin or integration
  14. Do they operate a Robot or offer automated trading software?
  15. What is Customer Service like? Do they offer telephone, email and live chat customer support – and in which countries? Do they list direct contact details?
  16. Who has the best payouts or maximum returns? Check the markets you will trade.
The Regulated Binary Brokers
Regulation and licensing is a key factor when judging the best broker. Unregulated brokers are not always scams, or untrustworthy, but it does mean a trader must do more ‘due diligence’ before trading with them. A regulated broker is the safest option.
Regulators - Leading regulatory bodies include:
  • CySec – The Cyprus Securities and Exchange Commission (Cyprus and the EU)
  • FCA – Financial Conduct Authority (UK)
  • CFTC – Commodity Futures Trading Commission (US)
  • FSB – Financial Services Board (South Africa)
  • ASIC – Australia Securities and Investment Commission
There are other regulators in addition to the above, and in some cases, brokers will be regulated by more than one organization. This is becoming more common in Europe where binary options are coming under increased scrutiny. Reputable, premier brands will have regulation of some sort.
Regulation is there to protect traders, to ensure their money is correctly held and to give them a path to take in the event of a dispute. It should therefore be an important consideration when choosing a trading partner.
Bonuses - Both sign up bonuses and demo accounts are used to attract new clients. Bonuses are often a deposit match, a one-off payment, or risk-free trade. Whatever the form of a bonus, there are terms and conditions that need to be read.
It is worth taking the time to understand those terms before signing up or clicking accept on a bonus offer. If the terms are not to your liking then the bonus loses any attraction and that broker may not be the best choice. Some bonus terms tie in your initial deposit too. It is worth reading T&Cs before agreeing to any bonus, and worth noting that many brokers will give you the option to ‘opt-out’ of taking a bonus.
Using a bonus effectively is harder than it sounds. If considering taking up one of these offers, think about whether, and how, it might affect your trading. One common issue is that turnover requirements within the terms, often cause traders to ‘over-trade’. If the bonus does not suit you, turn it down.
How to Find the Right Broker
But how do you find a good broker? Well, that’s where BitcoinBinaryOptionsReview.com comes in. We assess and evaluate binary options brokers so that traders know exactly what to expect when signing up with them. Our financial experts have more than 20 years of experience in the financial business and have reviewed dozens of brokers.
Being former traders ourselves, we know precisely what you need. That’s why we’ll do our best to provide our readers with the most accurate information. We are one of the leading websites in this area of expertise, with very detailed and thorough analyses of every broker we encounter. You will notice that each aspect of any broker’s offer has a separate article about it, which just goes to show you how seriously we approach each company. This website is your best source of information about binary options brokers and one of your best tools in determining which one of them you want as your link to the binary options market.
Why Use a Binary Options Trading Review?
So, why is all this relevant? As you may already know, it is difficult to fully control things that take place online. There are people who only pose as binary options brokers in order to scam you and disappear with your money. True, most of the brokers we encounter turn out to be legit, but why take unnecessary risks?
Just let us do our job and then check out the results before making any major decisions. All our investigations regarding brokers’ reliability can be seen if you click on our Scam Tab, so give it a go and see how we operate. More detailed scam reports than these are simply impossible to find. However, the most important part of this website can be found if you go to our Brokers Tab.
There you can find extensive analyses of numerous binary options brokers irrespective of your trading strategy. Each company is represented with an all-encompassing review and several other articles dealing with various aspects of their offer. A list containing the very best choices will appear on your screen as you enter our website whose intuitive design will allow you to access all the most important information in real-time.
We will explain minimum deposits, money withdrawals, bonuses, trading platforms, and many more topics down to the smallest detail. Rest assured, this amount of high-quality content dedicated exclusively to trading cannot be found anywhere else. Therefore, visiting us before making any important decisions regarding this type of trading is the best thing to do.
CONCLUSION: Stay ahead of the market, and recover from all kinds of binary options trading loss, including market losses in bitcoin, cryptocurrency, and forex markets too. Send your request via email to - [email protected]
submitted by Babyelijah to u/Babyelijah [link] [comments]

FAQ for Beginners

What is Bitcoin?

Bitcoin is scarce, decentralized, and global digital money that cannot be censored.

Quick Advice

  • Do not respond to strangers messaging you with investment advice or offers and read how to avoid being scammed from the posts below.
  • Do not invest in Bitcoin until you do basic research, paid off all high interest debt, and have a emergency savings account of a stable fiat currency.
  • If investing do not expect to get rich quickly. You should expect to wait at least 1-2 years before taking profits. Bitcoin is currently very volatile. In the interim spend and replace Bitcoin because its a useful currency.
  • Beginners should avoid all mining and day trading until at least very familiar with Bitcoin. Mining is very professional(You cannot efficiently mine with your computer and need to buy special ASIC machines) and most people lose money day trading.
  • Never store your Bitcoins on an exchange or web wallet. Buy your bitcoins and withdraw it to your personal wallet where you actually own them instead of IOUs. Services like Robinhood and Revoult should be avoided because you cannot withdraw or use Bitcoin.
  • Make sure you make a backup of your wallet(software holding keys to your BTC) and preferably keep it offline and physical and private. Typically 12 to 24 words you write down on paper or metal. This onetime backup will restore all your keys, addresses , and Bitcoins on a new wallet if you lose your old wallet.
  • Beginners should avoid altcoins, tokens, and ICOs at least initially until they learn about Bitcoin. Most of these are scams and you should be familiar with the basics first. Bitcoin is referred to as BTC or XBT.

Exchanges Requiring ID Verification

Bitcoin = BTC or XBT on exchanges
Exchange Buy fee* Withdraw BTC Notes
Cash App Sliding ~2.2% to 1% 0 BTC Instant Withdraw, USA only
Coinbase Debit3.99% ACH1.49% 1-4USD ~7Day hold BTC withdraw
CoinbasePro 0.5% 1-4USD ~7Day hold free ACH Deposit or €0.15 EUR SEPA fee
Gemini 1.49% to 0.25%ATrader 0 BTC 10 free BTC withdraws w/ActiveTrader
Kraken 0.16% 0.0005 BTC Deposit Fiat=USwire+5USD or SEPA free
Bitstamp 0.50% 0.0005 BTC Deposit Fiat=0 SEPA or 5% card fee
Note: Exchanges all have unique market prices and spreads so fees alone will not tell you the best rates. Best way is to directly compare the rates between exchanges. Buy fees above are for normal trading volumes. Verification and hold times can vary based upon lack of history, verification level or credit.
More exchanges per location
For a secure Decentralized Exchange (DEX) use https://bisq.network

Recommended Wallets

Best wallets for securing small amounts of BTC
electrum For Desktop and Android
Pros= Great Desktop and Android wallet with advanced functionality like coin control
Cons= UX is not as polished as some other wallets, make sure you only upgrade from official sources like play store or https://electrum.org as malicious servers or adverts can tell you to upgrade malware from other sites
https://www.youtube.com/watch?v=E4EhZg5QslI
Phoenix LN wallets for Android
Pros- Lightning network integration(as well as onchain) allowing you to spend with LN merchants for instant confirmations and much lower fees. Easiest lightning wallet to use
Cons- Lightning is still somewhat experimental and less merchants accept it.
https://phoenix.acinq.co/
https://www.youtube.com/watch?v=Cx5PK1H5OR0
Breez LN wallet for Android and IOS
https://breez.technology
https://www.youtube.com/watch?v=t_4b-y4T8bY
Pros- Lightning network integration(as well as onchain) allowing you to spend with LN merchants for instant confirmations and much lower fees
Cons- Lightning is still somewhat experimental and less merchants accept it.
Other Lightning wallets - http://lightningnetworkstores.com/wallets
Blockstream Green Wallet IOS and android wallet
Pros- Great UX, easy hardware wallet and full node integration, RBF, HW wallet support and advanced 2fa options Cons- Until single signature is released 2 of 2 multisig means that one must depend upon blockstream’s server for tx signing. Other light wallets are dependent upon other servers as well but light wallets like electrum allow you to swap servers.
https://www.youtube.com/watch?v=uO3Zi9D5b0Y
https://blockstream.com/green/
Securing Larger amounts of Bitcoin
ledger nano S wallet = ~68 USD https://shop.ledger.com/products/ledger-nano-s
https://www.youtube.com/watch?v=YI1OntWB7wc
https://www.youtube.com/watch?v=AGe2GgfkO64
trezor one wallet = ~54 USD https://shop.trezor.io
https://www.youtube.com/watch?v=pT1j_kbZBEo
Trezor Model T = ~164 USD https://shop.trezor.io
https://www.youtube.com/watch?v=i3BIo5Ac_n4
Cold Card Hardware wallet = 119.97 USD https://store.coinkite.com/store/coldcard
https://www.youtube.com/watch?v=kocEpndQcsg
https://www.youtube.com/watch?v=f8dBNrlwJ0k
Digital Bitbox 02 = 109 USD https://shiftcrypto.ch/bitbox02/
https://www.youtube.com/watch?v=tdP_7LgZw7s
https://www.youtube.com/watch?v=z7nRq2OEhiw
https://www.youtube.com/watch?v=6D4FgJo3j64
Best Advanced Bitcoin Wallet= Bitcoin Core
Pros= Great privacy and security
Cons= UX is for more experienced users, takes ~week to sync and requires ~5GB minimum disk space if prunned
https://bitcoincore.org/en/download/
Best High Privacy Bitcoin Wallet = Wasabi
Pros= Best Privacy with Chaumian CoinJoin built in
Cons= mixing coins costs more fees and for more advanced users
https://www.wasabiwallet.io/#download
https://www.youtube.com/watch?v=ECQHAzSckK0
https://www.youtube.com/watch?v=zPKpC9cRcZo&list=PLmoQ11MXEmahCG1nkbKK6DiAwVx9giJCi
https://www.youtube.com/watch?v=y8wQK-Ndl3Q&list=PLPj3KCksGbSaEmjU0sywoTYDVYYSu8LsS

Further Resources

https://www.lopp.net/bitcoin-information.html
https://www.lopp.net/lightning-information.html
https://10hoursofbitcoin.com/
http://bitcoinrabbithole.org/
https://bitcoin-resources.com
https://www.bitcoin101.club
https://21lessons.com
submitted by bitusher to BitcoinBeginners [link] [comments]

Round up of Cryptocurrency News #3 Week 20/07 - 26/07

Pssst! Hey you. Scroll down for commentary!
Important/Notable/Highlights:
Special Mentions:
You haven't had enough news? Here is some more:
Speculation:
You made it! :)
First up, SORRY! This has been a late post, I have my reasons don't question them (if you must know I'll be posting in the discord - one time only haha). Secondly, I am sure you can agree with me when I say "Wow!" What an incredible week it has been. Last week I thought it was going to take a couple more weeks for more moving price action when it had only taken a few days which has seen Bitcoin reach and pass the $10,000 region. We have also seen the total Market cap for cryptocurrencies increase from about 280B to over 300B (308B at time of writing) within just a few days. A huge injection of liquidity, about 40B, into the market and just to name a few of the best rises in the top 20 (on Coinmarketcap.com), the price of ETH BTC ADA have given good performances/positive responses (With this I will start adding screenshots at the end of each week for timestamp purposes).
This may be a combination from Binance, Mastercard, Paypal, Grayscale investments, VISA AND the DEFI sector. Let me explain... Last week we read about Binance integrating with the company Swipe (SXP) to issue there own debit card expanding the use and reach of cryptocurrency to 31 countries within Europe. Binance's Q2 scheduled token burn of $60.5 Million, this figure correlates with its exchange, margin and futures trading platforms where approximately 20% of profits get burned to increase the price of BNB token (careful as the price has been steady after the burn).
This week we find out Mastercard's expansion into the Cryptosphere as they expand and integrate with the Wirex team to issue a Mastercard-backed Bitcoin debit card, thus further extending the reach of cryptocurrency availability internationally.
"The cryptocurrency market continues to mature and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy " "...Our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay"
Mastercard is also reaching out to other emerging cryptocurrency firms to apply to become principal members [Partners] with Mastercard as they have relaxed their digital assets program and look to expand into the Digital Assets and Blockchain environment.
Paypals expression of interest in cryptocurrency facilitiation may bear fruits as it is said Paypal has partnered up with stablecoin operator Paxos (who is already in partnership with Revolut in the US) to facilitate trading through a cryptocurrency brokerage which will enable other firms to integrate cryptocurrency trading functionalities with them. In my opinion this looks much more promising than the Libra association they pulled out from last October as regulations.
Grayscale Investments clears regulatory hurdle as they have been given the green light for its Bitcoin Cash Trust (BCHG) and Litecoin Trust (LTCN) to be quoted in over-the-counter (OTC) markets by US Financial Industry Regulatory Authority (FINRA).
“The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of the Trusts’ underlying assets through a traditional investment vehicle, avoiding the challenges of buying, storing, and safekeeping digital Bitcoin Cash or Litecoin directly.”
More green lights for Cryptocurrency in the US as regulators allow banks to provide cryptocurrency custody services (which may go further than just custody services). A little bit strange as it seems unnecessary and undermines one of the key factors and uses of cryptocurrency which is to be in complete control of your own finances... On another outlook this may be bullish as it allows US banks to provide banking services directly to lawful cryptocurrency businesses and show support for Bitcoin.
Visa shows support stating they have a roadmap for their further expansion into the Crypto sphere. Already working with Crypto platform Coinbase and Fold they have stated they recognise the role of digital assets in the future of money. To be frank, it appears to be focused on stable coins, cost effectiveness and transaction speeds. However they are expanding their support for crypto assets.
AND MOST IMPORTANTLY, DeFI! Our very own growing section in crypto. Just like the 2017 ICO boom we are seeing exorbitant growth and FOMO into the Decentralised Finance sector (WBTC, Stablecoins, Yield farming, DEXs etc). The amount of active addresses on Ethereum has doubled but with the FOMO on their network have sky rocketed their fees! Large use-cases of stable coins such as USDT ($6B in circulation using ERC-20 standard), DAI, TUSD, and PAX. $114M Wrapped Bitcoin (WBTC) on their network acts as a fluid side chain for Bitcoin and DEX trade volume has touched $1.6B this month. With all this action happening on Ethereum I saw the 24HR volume surpass BTC briefly on Worldcoinindex.com
In other news, Bitcoin has been set as a new precedent in a US federal court in a case against Larry Dean Harmon, the operator of an underground trading platform Helix. Bitcoin has now legally been ruled as a form of money.
“After examination of the relevant statutes, case law, and other sources, the Court concludes that bitcoin is money under the MTA and that Helix, as described in the indictment, was an `unlicensed money transmitting business´ under applicable federal law.”
Quick news in China/Asia as floods threaten miners and the most dominant ASIC Bitcoin mining rig manufacturer Bitmain loses 10,000 Antminers worth millions alledgedly goes missing or "illegally transfered" with ongoing leadership dispute between cofounders.
Last but not least, Cardano (ADA) upgrade Shelley is ready to launch! Hardfork is initiated as final countdown clock is switched on. At time of writing the point of no return has been reached, stress tests done and confirmation Hardfork is coming 29/07 The Shelley Mainnet upgrade is a step toward fast, capable and decentralised crypto that can serve billions of people. With the Shelley Mainnet is ADA staking rewards and pools! Here is a chance for us Gravychainers to set up a small pool of our own. Small percentage of profits going into the development of the community, and you keep the rest!
If you read all of my ramblings thanks heaps! I appreciate it! I have added an extra piece of reading called speculation. Most you can speculate on by just reading the headline some others have more depth to them.
Another post next week for a weekly round up! Where do you think the market is going? What is in your portfolio? Let us know in the Gravychain Discord Channel
See you soon!
🍕 Bring some virtual pizza to share 🍕
Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments!
Big thanks to our Telegram and My Crypto HQ for the constant news updates!
P.S.
Dr Seuss collectables on the blockchain HECK YEAH! and Bitcoin enters NASCAR, remember when Doge did this? it was like when Doge was trending on TikTok.
... Oh yeah did I also mention Steve Wozniak is suing Youtube, Google over rampant Bitcoin scams. Wait, what? Sydney based law firm JPB Liberty is suing Google, Facebook and Twitter for up to $300B. Just another day in the Cryptosphere.
submitted by IOTAbesomewhere to Gravychain [link] [comments]

Australian Watchdog Issues Warning on Fake Celebrity-Endorsed Crypto Ads

The Australian Securities and Investments Commission, or ASIC, is asking people to remain cautious about celebrity-endorsed Bitcoin (BTC) scam sites. According to the commission’s public warning, the Australian watchdog has received a number of reports of fraudulent crypto sites that claim to be endorsed by prominent businesses, new sites, and government agencies. Some even appear […]
submitted by FuzzyOneAdmin to fuzzyone [link] [comments]

TradeOptionGains bitcoin site?

Got this weird DM on reddit idk what this guy is up to have any of you ever heard of this https://tradeoptiongains.com Site?
u/mikerobin25

Mikerobin2501:52 AM
Hello there
IDEKMyUsername09:34 AM
Howdy
Mikerobin2509:47 AM
How's it going?
IDEKMyUsername12:13 PM
Not bad.
What's up
Mikerobin2512:36 PM
I'm doing quite alright, How about you?
IDEKMyUsername12:53 PM
Not bad
Mikerobin2501:39 PM
Well, I don't mean to intrude but are you familiar with the term "cryptocurrency", Bitcoin to be precise?
IDEKMyUsername03:10 PM
Yes
Aye
Mikerobin2503:25 PM
Well, I'm at the moment engaging in an outreach aimed at expanding the clientele of my platform and enlightening the populace on the monetary potential of bitcoin trading and mining. Would you be interested in this?
IDEKMyUsername03:26 PM
Uh yeah sure I can look into it.
What does it include?
Mikerobin2503:28 PM
Are you familiar with the term "Bitcoin trading"?
IDEKMyUsername03:29 PM
Yeah somewhat
Like selling and buying it?
Mikerobin2503:33 PM
Well, Bitcoin trading is the process of making profits by buying Bitcoin at a low cost and selling it when the price goes up, This method is referred to as Dollar Cost Averaging(DCA). The Bitcoin trade is volatile, and price move by a significant margin. This activity is done on trading platforms.
Are you following?
IDEKMyUsername04:07 PM
Yep gotcha so far
Sorry had to pickup a call
Mikerobin2506:51 PM
No problem mate. Every platform has an investment procedure and ROI method. Unlike other platforms that engage in day trading (profiting from the volatility of bitcoin which is inefficient), My platform is registered with S9 ant miners that mine the bitcoin you invest to increase exponentially and that’s how you earn profits.
Have you heard of the term "Bitcoin mining"?
IDEKMyUsername06:52 PM
Yes I have
Mikerobin2506:57 PM
Good. For clarification, Bitcoin mining primarily involves generating and earning off the confirmation of blocks of transaction on the network such as the Blockchain network.
This is made possible with the use of special and sophisticated devices called the Bit main devices, Such as the AntMiner S9 and ASIC hardware. These devices are extremely expensive to maintain and require a lot of electricity generation and technical expertise which makes it rarely an option for private individuals who are interested in going into Bitcoin mining. But my platform has been able to provide for this disability.
Are you following?
IDEKMyUsername06:57 PM
I feel ya
Yes
Mikerobin2507:01 PM
Moving on, My platform operates a full S9 Antminer farm. The Antminer s9 has a hash rate of 12.93TH/s which is -+ 7%, Which could generate a ROI of 0.5 BTC within an investment period depending on the investment capital. Note: ROI stands for return of investment while hash rates a measure of how many times the network can attempt to complete this puzzle every second. This means that hash rate is a good indicator of the Bitcoin network's health.
Do i still have your attention?
IDEKMyUsername07:02 PM
Yes
Mikerobin2507:05 PM
Finally, All investments are made and monitored by the client (you) on the platform's website as you earn profits daily and you can contact me a "Broker" on the platform whenever you need assistance or more information.
https://tradeoptiongains.com
IDEKMyUsername07:05 PM
Hm
U have a history of wise investments?
I mean don't really know you so not like your a "professional" of any means
Mikerobin2507:06 PM
Certainly
We've been running for a span of 4 years now with optimum services provided
IDEKMyUsername07:38 PM
oh wow
gimmie some more deets?
how much money would I expect if i put a quick g bar in?
IDEKMyUsername07:53 PM
hm?
Mikerobin2507:54 PM
An investment of $1000 amounts up to the standard ROI stated above which is 50% of 1 bitcoin.
Apologies for the late reply, Was attending to a client of mine.
IDEKMyUsername07:55 PM
so invest of about $1000 would give ruffly 5?
nah ur good fam
like how I go about that tho u know
cause isn't bitcoin like kind of high right now?
Mikerobin2507:57 PM
Yeah though it would have been more profitable if you had started earlier when it was cheaper but you should be expecting more returns due to the halving coming up.
https://www.bitcoinblockhalf.com/
IDEKMyUsername07:58 PM
how high you think its going to get?
Mikerobin2507:59 PM
Its a highly speculative asset but from my experience and following it's previous halving events, Probably 15-18k.
IDEKMyUsername08:01 PM
oh jeez thats like as big as the big boom right?
how you know its gonna do that?
and what if it doesn't lol?
do I just l;ose it all
Mikerobin2508:05 PM
Exactly. If it doesn't, It would remain at its breaking point of 9k or peak point of 10k but i highly doubt it doesn't pump(rise) based on past halving events. You can simply get started by creating your personal account on the platform by which you can start by purchasing bitcoin and you can do this by clicking on the "Register" icon to get started.
IDEKMyUsername08:05 PM
hmmm idk
Kinda need some more security u know what I mean?
Mikerobin2508:08 PM
I understand. Loses are only made when you sell off, You money remains intact whether it rises or falls as long as you don't sell but your ROI is fully attained on your account on the platform.
IDEKMyUsername08:09 PM
o
Mikerobin2508:10 PM
Indeed
Mikerobin2508:20 PM
Any more questions?
IDEKMyUsername08:20 PM
uhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh
no
Mikerobin2508:22 PM
Okay then, I'm available here if you're interested and need my assistance
Enjoy the rest of your day.
IDEKMyUsername08:25 PM
o
ok
Yesterday
Mikerobin2501:48 PM
https://www.fxstreet.com/cryptocurrencies/news/breaking-bitcoin-price-takes-down-9-000-as-10-000-beckons-202004300334
https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-price-gold-oil-2020-best-performing-assets-a9492641.html
IDEKMyUsername01:51 PM
O
I bought it
Mikerobin2501:51 PM
Pardon?
IDEKMyUsername01:52 PM
I bought one
Mikerobin2501:52 PM
On what platform?
IDEKMyUsername01:54 PM
I'm idk the one u sent me
Um*
Mikerobin2501:55 PM
Really? When did you do this and why wasn't i informed?
Today
IDEKMyUsername10:19 AM
Oh like last last night
I thought it was expected
U sent me the link and everything
;(
Mikerobin2510:22 AM
You would have informed me so i can enlighten you more on the procedure. Are you aware that it's a mining platform and you earn profits as an investor?
IDEKMyUsername10:23 AM
Yah so what would profit be ya reckon?
For let's say $1000 over liek a year
Mikerobin2510:24 AM
What name did you use in registering the account?
IDEKMyUsername10:24 AM
Uh I'd have to look it up
But how much profit did u say it would be about?
Mikerobin2510:27 AM
0.5 BTC a month depending on your investment capital that is, I would need the name of your account to register it under my personal database so i can provide you with information and assistance when needed.
IDEKMyUsername10:28 AM
O damn that's some big bucks right there
.5 btc like what 4g?
4 times 11 that's $44,000 a month
Mikerobin2510:30 AM
How much did you invest and what is the name of your account?
Your profit is calculated in respect of your investment capital
IDEKMyUsername10:31 AM
Like 11grand
Mikerobin2510:31 AM
And the name?
IDEKMyUsername10:31 AM
Mmmm
How do I find it?
Is there a way on the site
Mikerobin2510:31 AM
What name did you use in creating the account?
Didn't you register?
IDEKMyUsername10:32 AM
Oh like my irl name
I thought u meant like a username
Mikerobin2510:32 AM
Username is what i mean
IDEKMyUsername10:33 AM
It's gonna be under Jeffery Henderson
Jeffery L. Henderson
Mikerobin2510:35 AM
Okay, Give me a second to record it and ascertain your expected profit.
IDEKMyUsername10:35 AM
Sick
Did u find my account?
Mikerobin2510:41 AM
I can't find your records on the platform, Maybe a technical difficulty. Could you please sign in and send me a screenshot of your funds deposited through discord please?
IDEKMyUsername10:41 AM
So tell me mike
Where's the cash?
Mikerobin2510:41 AM
Pardon?
IDEKMyUsername10:41 AM
You lost it, oh you misplaced it.
Now mike you know I don't like to be lied to right?
Mikerobin2510:43 AM
Since i can't find your account on the platform, I guess that's the ending of our conversation.
Good day.
IDEKMyUsername10:43 AM
So why
THE FUCK
ARE YOU LIEING TO ME
Mikerobin2510:44 AM
Prove that you have an account on the platform by sending a screenshot
IDEKMyUsername10:44 AM
I cannot
I did it on
Computer
Mikerobin2510:45 AM
The sign in through your phone, Do i seem like a fool to you?
I have a lot of clients to attend to and i don't have time for games
IDEKMyUsername10:45 AM
I ain't the I one that took another man's money and now can't find it
You don't have other clients
Let's not play games here
How do I get my money out of this depreciating asset?
You better help me get my money out of this or were going to have a major issue
Mike...
IDEKMyUsername11:16 AM
U serious rn bro?
Ur gonna scam me out of my 💰
?
A day will come when you think yourself safe and happy,.
But suddenly your joy will turn to ashes in your mouth.
and you'll know the debt is paid
IDEKMyUsername08:01 PM
Br
You still my 11 grand
Stole
What's your name
Tell me
Or I'll find you
submitted by IDEKMyUsername to Scams [link] [comments]

What would you do with 20 kWh of free power?

Hello,
I recently had an offer on my country, and I'll be able to install a 20kWh solar panel implant, and on my head ringed the idea: What if I get some mining rigs or ASIC to mine bitcoin with that, since I won't be paying anything on power consumption?
So the main question, is it still actually profitable to mine BTC?
Considering my setup of 20kWh power for free, what you guys would do?
I've been searching around on google looking for resources, documentation and so on, but being myself a beginner, and never mined before, I ran into some topics discussing about how ASIC's are just a scam and you won't even recover the invested prices of the ASIC itself, or stuffs like that.
What you guys suggest me to do? And, the more important question, how much that 20kWh implant is gonna profit, if there is any profit at all?
I am a beginner, so I welcome all kind of help and informations, thanks!
submitted by vlcksys to cryptomining [link] [comments]

Mining and Dogecoin - Some FAQs

Hey shibes,
I see a lot of posts about mining lately and questions about the core wallet and how to mine with it, so here are some facts!
Feel free to add information to that thread or correct me if I did any mistake.

You downloaded the core wallet

Great! After a decade it probably synced and now you are wondering how to get coins? Bad news: You don't get coins by running your wallet, even running it as a full node. Check what a full node is here.
Maybe you thought so, because you saw a very old screenshot of a wallet, like this (Version 1.2). This version had a "Dig" tab where you can enter your mining configuration. The current version doesn't have this anymore, probably because it doesn't make sense anymore.

You downloaded a GPU/CPU miner

Nice! You did it, even your antivirus system probably went postal and you started covering all your webcams... But here is the bad news again: Since people are using ASIC miners, you just can't compete with your CPU hardware anymore. Even with your more advanced GPU you will have a hard time. The hashrate is too high for a desktop PC to compete with them. The blocks should be mined every 1 minute (or so) and that's causing the difficulty to go up - and we are out... So definitly check what is your hashrate while you are mining, you would need about 1.5 MH/s to make 1 Doge in 24 hours!

Mining Doge

Let us start with a quote:
"Dogecoin Core 1.8 introduces AuxPoW from block 371,337. AuxPoW is a technology which enables miners to submit work done while mining other coins, as work on the Dogecoin block chain."
- langerhans
What does this mean? You could waste your hashrate only on the Dogecoin chain, probably find never a block, but when, you only receive about 10.000 Dogecoins, currently worth about $25. Or you could apply your hashrate to LTC and Doge (and probably even more) at the same time. Your change of solving the block (finding the nonce) is your hashrate divided by the hashrat in sum - and this is about the same for Doge and LTC. This means you will always want to submit your work to all chains available!

Mining solo versus pool

So let's face it - mining solo won't get you anywhere, so let's mine on a pool! If you have a really bad Hashrate, please consider that: Often you need about $1 or $2 worth of crypto to receive a payout (without fees). This means, you have to get there. With 100 MH/s on prohashing, it takes about 6 days, running 24/7 to get to that threshold. Now you can do the math... 1 MH/s = 1000 KH/s, if you are below 1 MH/s, you probably won't have fun.

Buying an ASIC

You found an old BTC USB-miner with 24 GH/s (1 GH/s = 1000 MH/s) for $80 bucks - next stop lambo!? Sorry, bad news again, this hashrate is for SHA-256! If you want to mine LTC/Doge you will need a miner using scrypt with quite lower numbers on the hashrate per second, so don't fall for that. Often when you have a big miner (= also loud), you get more Hashrate per $ spent on the miner, but most will still run on a operational loss, because the electricity is too expensive and the miners will be outdated soon again. Leading me to my next point...

Making profit

You won't make money running your miner. Just do the math: What if you would have bougth a miner 1 year ago? Substract costs for electricity and then compare to: What if you just have bought coins. In most cases you would have a greater profit by just buying coins, maybe even with a "stable" coin like Doges.

Cloud Mining

Okay, this was a lot of text and you are still on the hook? Maybe you are desperated enough to invest in some cloud mining contract... But this isn't a good idea either, because most of such contracts are scams based on a ponzi scheme. You often can spot them easy, because they guarantee way to high profits, or they fake payouts that never happened, etc.
Just a thought: If someone in a subway says to you: Give me $1 and lets meet in one year, right here and I give you $54,211,841, you wouldn't trust him and if some mining contract says they will give you 5% a day it is basically the same.
Also rember the merged mining part. Nobody would offer you to mine Doges, they would offer you to buy a hashrate for scrypt that will apply on multiple chains.

Alternative coins

Maybe try to mine a coin where you don't have ASICs yet, like Monero and exchange them to Doge. If somebody already tried this - feel free to add your thoughts!

Folding at Home (Doge)

Some people say folding at home (FAH - https://www.dogecoinfah.com/) still the best. I just installed the tool and it says I would make 69.852 points a day, running on medium power what equates to 8 Doges. It is easy, it was fun, but it isn't much.
Thanks for reading
_nformant
submitted by _nformant to dogecoin [link] [comments]

I earned about 4000% more btc with my android tablet than with a $250 ASIC mini rig setup using GekkoScience Newpac USB miners!

Requirements:
1.) Android Device with access to Google Play Store. *I haven't tried yet but you may be able to use tis on Android TV devces as well by sideloading. If anyone has success before I try, let me know! -Note, I did this with a Samsung Galaxy Tab S6 so its a newer more powerful device. If your android is older, your profts will most likely be less than what I earned but to give a projected range I also tested on my Raspberry Pi 4 running a custom LineageOS rom that doesn't allow the OS to make full use of the Pi's specs and I still got 500 h/s on that with Cloud boost, so about 60% of what my Tab 6 with MUCH Higher Specs does.
**Hey guys. Before I get started i just wanted to be clear about one thing. Yes I have seen those scammy posts sharing "miracle" boosts and fixes. I have a hard time believing stuff online anymore. But this is honestly real. Ill attach photos and explain the whole story and process below. Thanks for taking the time to read and feel free to share any thoughts, concerns, tips, etc*
So last week I finally got started with my first mini rig type mining build. I started getting into crypto about a year ago and it has taken me a long time to even grasp half of the projects out there but its been fun thus far! Anyways my rig was 2 GekkoScience Newpac USB miners, a Moonlander USB miner to pair with an FPGA i already had mining, a 10 port 60W 3.0 USB hub and 2 usb fans. The Newpacs actually are hashing at a combined 280 g/s which is actually better than their reported max hash rate when overclocked. Pleasant surpise and they are simple!! I just wanted to get a moonlander because my fpga already mines on Odocrypt for DGB and I just wanted to experience Scrypt mining and help build the DGB project. The Newpacs are mining BTC though.
After I got everything up and running i checked my payout daily average after 1 week. I averaged .01 a day TOTAL between all three miners with them all perforing ABOVE SPEC!!! I had done research so i knew I wouldnt earn much. More than anything i just wanted to learn. But still. I was kinda surprised in a negative way. Yesterday I actually earned less than .01 Frustrated I went back to scouring the web for new ideas. About a year ago, when II was starting, I saw an app on my iphone called CryptoBrowser that claimed to mine btc on your phone without actually using phone resources using a method of cloud mining. I tried it for a week and quit because I earned like .03 after a ton of use and seemed scammy. Plus my iphone actually would get very hot when doing this so I quit using it as it seemed like a possible scam with all the cryptonight browser mining hacks and malware out there.
Anyways I was on my Galaxy Tab S6 and saw that CryptoBrowser released a "PRO" edition for 3.99 on Google Play. I bought it for Sh*ts and giggles and booted it up. It came with what they called "Cloud Boost" Essentially this is a button you press and it multiplys the estimated hashrate that it gives you device by the number shown on the boost button. (With the purchase of PRO you get one free x10 boost. You can purchase additional boosts to use with other android devices but those are actually pretty pricy. Another x10 boost was like $25 if i remember correctly).
I played with it for about an hour to see if it actually worked like it said it would this time. To my surprise, as i was browsing, my device didnt increase in temperature AT ALL!!!!! I checked my tast manager to confirm and it was indeed true, my memory and usage barely went up. it was giving me an estimated range of 80-105 on the hashrate. Once i pushed the x10 boost button, that went to 800-1150 h/s. I switched my screen to not go to sleep, plugged it to the charge and let it run on the browser page, hashing. When you push the boost button, it runs for 3 hours at the boosted speeds. After that it goes back to normal but if you press the button again, it boosts everything again. There is no limit to how many times you use it. After checking what I earned after 24 hours, I HAD MADE .40 in BTC!!!!! I JUST EARNED OVER 4000% MORE THAN MY $280 MINING RIG EARNED ME!!!! I was blown away. Maybe this was a fluke? I did it again next day. Every 3 hours or so I would push the button again but thats all. Sure enough, .35 that day. Also, it realy BTC. I requested a payout and although it took like 12 hours for them to send me an email stating they had just sent it, I actually did recieve the state amount of BTC within 24 hours in my personal wallet. The fees to send are SUPER LOW!. Like .01
Below I will list the steps I took, along with an explanation of thier "Mining" process on Androids. Reminder, this ONLY WORKS ON ANDROIDS. Also DO NOT use cryptobrowser on a physcal laptop or desktop. I ran it on an old laptop for three days last year and it fried it. It does actually use your hardware on those platforms to mine and it is not efficnet at all as I suspect they prob steal over half of your power for themselves using the REAL RandomX protocol via browser mining which is EXTREMELY INEFFICIENT DONT TRY IT!!
-----How To Do This Yourself:
Cryptotab Browser states the program works on Android devices by estimating what it thinks the hashrate would be for your device specs and siimulates what you would mine in a remote server however you still earn that estimated coin amount. It is not a SHA-256 process or coin that they say is mining, rather it is XMR and they swap that and pay it out to you in BTC Bitcoin. However I know damn well my Tab S6 doesnt hash 80-105 h/s on RandomX because I have done it with a moodified XMRig module i ported to Android. I got 5 h/s a sec if I was getting any hashes at all. But thats besides the point as I still was making money.
Now, when you press that cloud boost button it immediately boosts that hash rate it estimates by the number on the cloud boost. As stated above, you can purchase more boosts and gift them or use them on extra android devices that you may have. Again, they are pricey so I'm not doing that plus it would just mean that I have another device that I have to leave on and open. The boosts come in x2, x4, x6, x8 and x10 variants. Again, they have unlimited uses.
Here is the link to grab yourself CryptoBrowser Pro from CryptoTab. This IS A REFERRAL LINK! This is where I benefit from doing tis tutorial. Like i said, I want to be transparent as this is not a scam but I'm also not doing this out of the love of my heart. Their referral system works in that people that use the donwload the app using your link are your stage 1 referrals. Anytime they are mining, you earn a 15% bonus. So say they mine $.30 one day. You would get paid out an additional $.045 in your own balance (it does not come out of the referred user balance fyi so no worries). Then lets say that referred miner also gets their own referrals. I would get a 10% bonus on whatever THOSE people mine. This goes on and on for like 8 tiers. Each tier the bonus percntage essential halves. So again, I stand to benefit from this but it also is stupid to not make this visible as its WAY CHEAPER, EASIER AND MORE PROFITABLE TO GET BTC USING THIS METHOD THAN IT IS USING ASICS!! THIS EARNS ALMOST AS MUCH BTC AS AN ANTMINER S7 DOES RUNNING 24/7 ONLY WITHOUT THE HUGE ELLECTRICTY BILL AND COSTS!!!!)
Thats it. Again, if you have concerns, let me know or if you have suggestions, other tips, etc... mention those as well!!!
https://cryptotabbrowser.com/8557319
Links to Picture Proof http://imgur.com/gallery/P13bEsB
submitted by Afraid_Balance to earnbitcoin [link] [comments]

White Paper, Miner, Pizza … | "Old Objects" in the Cryptocurrency Museum

White Paper, Miner, Pizza … |
https://preview.redd.it/giu1ssilga151.jpg?width=900&format=pjpg&auto=webp&s=41510785ccdc0d99544ec74229f62427d1c0ce3e
Museum has played the role of a time recorder. Talking about bitcoin, more than ten years has passed since the creation of it. Although it is uncomparable to the stock market with a hundred years of history, during the ten years, in the different stages of the development of bitcoin and blockchain have continuously poured in geeks, miners, speculators, newbies, leaving keywords such as sudden rich, myth, scam, belief, revolution, etc.
There are also many “old objects” with stories in the “Museum” of the cryptocurrency realm. On Museum Day, let ’s review the stories brought by these “old objects”.
The First Digital Currency White Paper — Bitcoin White Paper
On Oct. 31, 2008, Satoshi Nakamoto released the Bitcoin white paper — A Peer-to-Peer Electronic Cash System in the cryptographic mail group where he belongs, and Bitcoin was born since then.
A white paper is a document that explains the purpose and technology used in cryptocurrency. Usually a cryptocurrency uses the white paper to help people understand what it provides, and it is also an important information channel for investors to understand a project. Therefore, the level of the white paper affects people’s confidence towards the coin.
In a word, in the cryptocurrency and blockchain industry, the value of a white paper is equivalent to that of a standard financing speech. The white paper plays a vital role in this emerging market.
The First Public Bitcoin-Physical Transaction — Pizza
Since Satoshi Nakamoto mined the Bitcoin genesis block on January 3, 2009, Bitcoin has only been spread among the small crowd and has not realized its value.
Not until May 22, 2010, Bitcoin enthusiast “Laszlo Hanyecz” bought a pizza coupon worth $25 with 10,000 bitcoins. This is the first public bitcoin-physical transaction. Bitcoin has its price with 0.3 cents per bitcoin.


This day has also become the famous “Bitcoin Pizza Day” in Bitcoin history. Bitcoin as the imagination of the financial system has more practical significance. The tenth anniversary is coming. How will you commemorate it? Will you buy a pizza?
The First Digital Asset Exchange — Bitcoinmarket.com
After the birth of Bitcoin, in addition to mining, the only way to get Bitcoin in the early days was to conduct transactions on forums or IRC (commonly known as Internet Relay Chat). However, this method involves both long transaction time and great security risk.
In March 2010, the first digital asset exchange — Bitcoinmarket.com launched. However, due to lack of liquidity and transaction depth, it disappeared soon after its establishment, but Bitcoinmarket.com opened the era of the operation of the cryptocurrency realm exchange 1.0.


On June 9, 2011, China’s first Bitcoin exchange — Bitcoin China (BTCChina) launched. Its founder, Yang Linke, translated Bitcoin into Chinese “比特币” for the first time. In 2013, China’s bitcoin trading entered the golden age, and exchanges sprung up. China monopolized more than 90% of the world’s bitcoin transactions. Now, if the top three exchanges Binance, Huobi Global, OKEx are the Exchange 2.0, then the index exchange represented by 58COIN called the 3.0 version, leading the trend.
The First Generation of High-Performance Miner — ASIC Miner
When Satoshi Nakamoto created Bitcoin, the only way to get it is to use computers (including home computers) to mine, mainly relying on the CPU to calculate. However, as the value of digital currencies such as Bitcoin has become higher and higher, mining has become an industry with the competition is getting fiercer, accompanied by increasing difficulty of mining. Therefore, hardware performance competition starts.
In July 2012, the genius Jiang Xinyu (Internet nickname is “Friedcat”) from the junior class of the University of Science and Technology declared at the forum that he could make ASIC miners (chips). As far as mining computing power is concerned, ASICs can be tens of thousands or more higher than the same-generation CPUs and GPUs.
At the beginning of 2013, Zhang Nanqian (Pumpkin Zhang), a suspended doctoral student from the Beijing University of Aeronautics and Astronautics, developed the ASIC miner and named it “Avalon”.


In June 2013, the Friedcat’s miner USB was finally released, and it maintained 20% of the computing power of the entire network.
At the end of 2013, Wu Jihan, used the tens of millions yuan earned from Friedcat through investment, worked together with Jenke group, to develop the Antminer S1. Since then, the miner manufacturer Bitmain began to enter the stage of history.
It is no exaggeration to say that Friedcat and Zhang Nangeng have opened the domestic “mining” era.
The Birthplace of China’s Bitcoin — Garage Coffee
It is not only the “old objects” that record history, but also a place that everyone in the cryptocurrency realm aspires to.
Guo Hongcai once said, “Without no The Garage Café, there will be no cryptocurrency realm today. Since it is a very mysterious place that all waves of people from the café joint together to create today’s digital asset industry.

▲ In March 2013, American student Jake Smith successfully purchased a cup of coffee at The Garage Café with 0.131 bitcoins. This move attracted the attention of CCTV, and it conducted an interview.
Indeed, The Garage Café is the world ’s first entrepreneurial-themed coffee shop. It has been legendary since its establishment in 2011. The Garage Cafét is not only the core coordinate on China’s Bitcoin map, but also the birthplace of the Chinese cryptocurrency circle, where digital asset realm tycoons including Guo Hongcai, Zhao Dong, Li Xiaolai, Li Lin have made their ways.
The development of digital currency is only 11 years old. Through these “old objects”, we review the various stories of this wave of technology together, hoping to help you understand the development process of the digital currency field. Meanwhile, I also remind all practitioners to use history as a mirror and forge ahead.
Website: https://www.58ex.com/
Twitter: https://twitter.com/58_coin
Facebook: https://www.facebook.com/coin.58COIN
Telegram: https://t.me/official58
Medium: https://medium.com/@58coin_blog/
submitted by 58CoinExchange to u/58CoinExchange [link] [comments]

Remember, Bitcoin will still be a scam when it hits $50,000 per coin

As Bitcoin is the perfect tulip mania 2.0, please remember not to buy it, even if it hits $50k ore more sometime in 2020. It is an obvious scam!
Who would trust anonymous ordinary people mining Bitcoins all over the world, when you can trust the government and fiat money backed by real gold in Fort Knox! The Tether printing press will never get a real audit, and therefore Bitcoin is a scam.
Mark my words, even if this rocket goes far and high up, it's important to remember that it is unfair and morally fraudulent to own Bitcoin.
Oh btw, the government can crash Bitcoin anytime, all they need is to buy a shit-ton of ASICs and double the network hashrate, that'll show those basement-dwelling nerds!! That's as much a fact as the female gender paygap of 23%. Real fiat money is paper money!
This post doesn't represent my real opinion on Bitcoin and the power of proof-of-work. This is not investment advice. No, this is Patrick.
submitted by lacksfish to Buttcoin [link] [comments]

WIBTA for snitching on my uncle?

I'm a teenager. My uncle is a shitty man, abandoned his wife and 2 kids when they were little, and fathered 2 other kids from other women he met after. Pompous boastful prick.
I know of a scam he runs from overhearing my uncle explain his business model to my dad. Dad won't talk about it. I am thinking about telling the government about it.
My uncle has a 3d rendering company, which was failing, but since 2 or 3 years ago he mines bitcoin. His 3d rendering farm became a bitcoin mining operation. He recently started renting a garage and filled it with a bunch of ASICs. Made a deal with the electric company, electricity is cheap where we live. All that under the guise of doing 3d rendering using his company to write off all expenses.
Here is how the scam works as far as I can tell: Funding comes from a rich friend in the Emirates. Uncle mines bitcoin here. Bitcoin is transformed into $ somewhere along the way, not sure how. Funnels the money through Caiman islands. Writes off expenses using his failed 3d rendering company. Not sure of all the details but it is very shady. WIBTA for snitching on my uncle?
WIBTA to snitch on him to the government(s)?
submitted by ThrowawaySnitchTeen to AmItheAsshole [link] [comments]

Waltonchain adds GNU General Public License details to code - BUT does the code contain this?

Waltonchain adds GNU General Public License details to code - BUT does the code contain this?
Dear Crypto community,
Yesterday we saw Waltonchain release their Open Source code which resulted in huge criticism regarding the oversight of removing the original copyright to the original codebase, Ethereum Go, on which it is based.
Following this, the team have now updated the code to show the original copyright:
Image from Github
Source: https://github.com/WaltonChain/WaltonChain_Gwtc_Src/blob/mastep2p/rlpx.go?utm_source=share&utm_medium=ios_app
Github: https://github.com/WaltonChain?tab=repositories

I'd like to say thank you to the community for having such strong opinion on this matter, and for all the subreddit admins that assisted in creating clarity toward this. As a global community we should hold every blockchain up to the same standards, and I am grateful that this was shown in regard to the GNU General Public License.

Now that the issue is resolved, and since Waltonchain is currently a hot topic, I implore all the coders and devs out there to delve deep into the code to see exactly what Waltonchain have released. Not just the modification to the eth codebase, but the additional code. What does the code allow?

What we've been told as a community is that the Waltonchain source code has changes that allows for:
  • Security - DASH X11 - Most cryptographic algorithms used in cryptocurrencies use only one hash function for calculation. There are 11 of them in X11, which provides a higher degree of protection against hackers and scams. Waltonchain has customised the DASH X11 hashing algorithm to fit their purpose.
  • More secure than Bitcoin. The Bitcoin algorithm is SHA-256 is based on a previous secure hash algorithm family of standards, namely SHA-2, the hash functions within the X11 algorithm all successfully made it into the second-round in search for a new, more secure standard — SHA-3. Keccak, the function which won the competition and is therefore the new standard on which SHA-3 is based on, can at the very least be considered more secure that SHA-256.
  • Efficiency — Waltonchain have produced ASICs with the equivalent hashing power of 200GPUs (32–40kW) whilst using only 135W, thus helping the parent chain become decentralised
  • PoS aspect works in tandem with PoW, in that it adds a reduced difficulty based on number of coins held and time between blocks. Effectively the longer coins are held and the longer the time between blocks, the lower the difficulty for mining blocks. This again enhances the power efficiency of the network in its entirety.
  • Fast cross-chain searching via Proof of Labour —PoL enables hash values or indices from sub-chains (child chains) to be synced with the parent chain in a ‘cross chain index mechanism’ to enable fast searches for data via the parent chain.
  • Scalibility — Unlimited scalibility due to child chains; each CC is an independent blockchain (or DAG) using its own consensus mechanism (PoS, PoA, PoW, PoeT, etc) and can store data within itself. The parent chain by nature therefore cannot become bloated.
  • Atomic Swaps — PoL by nature ensures a record of every inter-chain transaction is held, and allows the function of atomic swaps between currencies.

Also to note is that the code has been audited by Knownsec, the same company that audited projects like HPB and NANO.

Lets have an open dialogue and talk about these features of the code - but firstly, do they exist? Hopefully people will approach this with the same enthusiasm as they did yesterday.

EDIT 1st June: A user on the Waltonchain sub has done an analysis which by the looks of it, disproves the initial assessment by many of the 'blockchain experts' in cc that have said the open source code is simply a copy and paste . https://www.reddit.com/waltonchain/comments/bveqea/changeset_goethereum_v171_to_gwtc_v110/
It is interesting to see just how much people love to hate Waltonchain that they spread misinformation either intentionally, or unintentionally, and that it gets the most attention out of any announcement.

For reference:
Block explorer: www.Waltonchain.pro (all wallets, mining wallet, documentation etc is available via that link)
submitted by Yayowam to CryptoCurrency [link] [comments]

Zigmabit fastest and most efficient crypto miners 🔴 SCAM 🔴

Zigmabit fastest and most efficient crypto miners 🔴 SCAM 🔴
https://preview.redd.it/wk4gh9rm3cb41.jpg?width=1280&format=pjpg&auto=webp&s=db173c6ddb6d51581b6e1f638c0a0465df8f5020
We are not even in a bull market yet. Usually these things happen when there is a lot of hype. ZigmaBit is scammer company with fake mining rigs to basically scam you. Their selling website is https://zigmabit.com/ , please don't even click the link. We do not want to give them any traffic, just watch the video down below.
They have listed 3 miners on their website:
  • ZigBit 2.0
  • ZigBit 3.0
  • ZigBit 5.0

https://preview.redd.it/406xtn2l3cb41.jpg?width=1676&format=pjpg&auto=webp&s=4933fa05a303be6ece49fa37c4e8845fa8636605
Which of course doesn't exist. They recommend that these miners will make some crazy gains, which of course will not happen. As these miners are fake. Seeing the specification makes me think these guys know very little about crypto currency mining. So for example the specification they are advertising on ZigBit 5.0 is :
  • Bitcoin-2000 TH/s
  • Litecoin-300 GH/s
  • Ethereum-75 GH/s
  • Dash-50 TH/s
  • Power Consumption-2400W
  • Power Socket 110V-240V
Now you understand what im talking about, seriously 2000 TH/s mining Bitcoin at 2400w (where the latest Antminer S17 is 72Th/s), or mining ETH and the profit is so big that it will cover the miner cost faster then month. And another thing, they using the same hardware to mine multiple currencies which every one of them needs different hardware. Worst thing is that people will loose money, and most likely some of them already did. People think they will get rich after buying this miner, which they will never receive. Their fake products look so bad, their cheapest version ZiBit 2.0 looks like an ATX power supply.

https://preview.redd.it/sj7oslyl3cb41.jpg?width=1606&format=pjpg&auto=webp&s=470d5ceb04049cb3b617eb3fa1294e414def0b90
Few things to also note is :
  • They have support chat on their website. I did send them a message and got response after about 20 minutes. So they told me that they only accept crypto currency, and the products are shipped from United Kingdom. My last line of the chat was "im coming for you you'll be in jail soon ".
  • When you google miner name, there is few websites coming up describing how great is their product. This most likely is owned websites for this scammer or this is purchased content posts.
  • Last thing is that i tired to do checkout on one miner, there is btc address which has already received 7btc. Im not sure if this is some people got already scammed or this is fake volume, hope this is fake volume https://www.blockchain.com/btc/address/1C4RSshoK9veR4jCNStqF32QARS5oGnmzw . Hope none is scammed.
Sad to see that there is such kind of people who makes money on scamming others. Man karma is there , i believe it will come for you sooner or later.
video - https://www.youtube.com/watch?v=j4Bc7\_hNk4o&feature=youtu.be
submitted by mineshop to gpumining [link] [comments]

Coinbase clears up misconceptions about ASICs, ASIC-resistance and how Proof of work works in new blogpost

Edit this post and my other cross-posts here are being heavily downvote brigaded by the very aggressive and forceful monero community. In the last couple days alone I have lost more than 100 comment karma, from over 1100 to 948, to these aggressive individuals seeking to manipulate the narrative, and 'lean on me' to stop posting information they don't like. This thread itself had roughly 14-17 upvotes. Now 5-8. Proof that I'm being vote brigaded is that I have nearly 3 times the donuts in Ethtrader than I have comment and post karma, COMBINED! This is despite the fact that I rarely post there. Which shows that most people appreciate my posts, but the monero community wants to hide that and control the narrative!
If you look at my comment karma by sub breakdown, visible in this comment here, you can clearly see that if you sum up my comment karma, I should have around ~2200. In dashpay alone I have 1300 comment karma. Yet if you hover over my username, I only have 906. This is due to vote brigading and is damning proof of it.
They refuse to allow discussions to take place naturally because their coin is not very good. Its very slow, you can only spend your funds once every 20 minutes (!!!), and its privacy was severely broken in the past, Monero Privacy Protections Aren't as Strong as They Seem | WIRED , and they are using intimidation and breaking the rules of reddit by massively downvoting my posts and comments to hide this information, like bullies and thugs would do.
Guess what guys? I don't care! TAKE MY COMMENT KARMA DOWN TO 0!! THAT JUST PROVES THAT YOU'RE LOSERS WHO CAN'T ACCEPT THE TRUTH AND THEREFORE MUST RELY ON CENSORSHIP AND COERCION. I WILL NEVER STOP TELLING THE TRUTH ABOUT YOUR COIN AND YOUR TOXIC COMMUNITY, SO DO YOUR WORST!
https://blog.coinbase.com/how-coinbase-views-proof-of-work-security-f4ba1a139da0
There has been a lot of discussion both in btc and the greater cryptocurrency community alike about the importance of POW and how it relates to the economic incentives that undergrid the day-to-day operation of cryptocurrency networks. I believe because so many people do not truly understand the innovation of POW that they become easily confused and fall for scams like POS and ASIC-resistance. Luckily, Coinbase has explained some of their rationale behind their decisions to accept certain coins after a certain number of blockchain confirmations.
Different cryptocurrencies add to their blockchains in different ways. In cryptocurrencies that utilize proof of work, the blockchain is extended by a process known as mining. Miners bundle newly announced transactions together into data structures called blocks, which are added to the blockchain.
A miner attempts to add a block by solving a proof of work puzzle unique to the proposed block. If the miner can find a solution to the puzzle, the miner will announce the block and its solution to the rest of the network. The rest of the network will recognize the valid proof of work solution and consider the proposed block as the most recent addition to the blockchain. Notice that there is no permission required for a miner to produce a block, a fact that allows miners to enter and leave the network at will.
Seems pretty standard, right?
Claim one: It is a security feature for a particular coin’s mining operations to be the dominant application of the hardware used to mine that coin.
This is important as we have seen for smaller coins with larger coins with the same mining hardware. As we've seen with BCH, its possible for larger coins to 'attack' coins with less hashpower, which is why the fliippening is so important for us as a community. As soon as the market prices in the fact that BCH has a superior user experience to BTC, then the miners will 'flip' their hashrate to BCH and BTC will maintain a minority position.
I contend, however, that for this to happen, we first need accurate pricing mechanisms so that when we assess how the market is responding, we are not being mislead by exchange price manipulation which I contend is very heavy currently in this thread: The REAL reason for the price decline or the anatomy of a shakedown! Exchange price manipulation is behind the recent 'decline'. If we use fair value instead to price our coins, we can see an actual, objective comparison. For example, BCH is now only $294.9 to BTC's $9,068.75 or only 3%, but how much of this is exchange manipulation? According to fair value, BCH is actually worth $528.24 while traditional BTC is only worth $6,096.09 for a ratio of ~9% which is 3 times better than exchange price would have you believe!
Owners of the hardware lose the value of their investment if the primary application of the hardware loses value.
Hardware owners are incentivized to consider the long term success of the main application of their hardware. The longer the lifetime of their equipment, the more invested they become in the long-term success of the hardware’s primary application. At time of writing, Bitcoin ASICs are beginning to have significantly longer useful lifespans as efficiency increases of newer models are diminishing.
Another thing they point out is that ASIC resistance is a fool's game:
Algorithm changes to “brick ASICs” simply allow the massive general purpose computational resources of the entire world to mine, and potentially disrupt, a cryptocurrency at will. Coins that have implemented “ASIC-resistant” algorithms have been, empirically, very susceptible to 51% attacks for this very reason. Notable examples of ASIC-resistant coins that have been successfully 51% attacked include BTG, VTC, and XVG. To date, there is not a single case where a coin that dominates its hardware class has been subject to a 51% double spend attack.
As I pointed out earlier this year in this thread, Further evidence that, despite what's detractors desperately want you to believe, fair value is accurately tracking the wealth in the market in real time! Monero's fair value decreases by 40% as miners leave network, Monero also was under a unique, far worse form of 51% attack this year that nearly completely destroyed their community. As further evidence I was correct above, only fair value accurately reflected the change in Monero's worth. The price, on the other hand, remained sky-high. This is heavy evidence of exchange price manipulation and another reason why ASIC resistance doesn't work.
By actively forcing and keeping ASICs off the network, the monero community continued building an ASIC-free ecosystem and economy based on low-hash CPU and GPUs. Which meant that when an asic was actually developed as we know they always will be that economy would be destroyed. You went from a 'large' community of solo miners on CPUs and GPUs to a single entity getting the majority of the hashrate and bankrupting the entire community. This happened wtih every coin when they moved to ASICs. The difference with Monero? Monero's move to ASICs will have been artificially delayed until the community is so large that the introduction will BANKRUPT the majority of economic participants mining! This is worse than a traditional 51% attack and it succinctly summarizes why ASIC resistance is bad idea.
The main takeway:
No algorithm is ever ASIC-proof, merely ASIC-resistant
For any particular computational problem, hardware specialized to solving specifically that problem will always be more efficient than general purpose hardware. In addition to the advantages of writing application-level logic directly into the circuitry, specialized hardware does not need to be burdened by other requirements of general purpose hardware, such as security isolation, clock interrupts, context switching, and other tasks required to support multiple applications. Thus, no proof-of-work algorithm is ever ASIC-proof, merely ASIC-resistant.
Empirically, ASIC-resistant algorithms have repeatedly failed to prevent the development of ASICs. Prominent examples include scrypt (LTC), equihash (ZEC, BTG), ethhash (ETH), and cryptonite[sic] (XMR).
So the takeaways from this are:
  1. If we want to have accurate, objective pricing information, we must use fair value to levelize the supplies between different coins, and to remove false price influences like Tether, whale movements and the fact that exchanges price all coins in BTC, which allows BTC the uncanny ability to move and negatively affect the entire market.
  2. ASIC-resistance is and always has been a fool's game. ASICs are a natural progression of cryptocurrencies that have grown sufficiently in size and popularity, and 'resisting' this move is a form of arrested development akin to 'puberty-resistance' or 'potty-training-resistance'. Its just nonsensical.
In order to make money in cryptocurrencies, we have to keep our heads on straight and not be swept away by popular opinion without good cause. ASIC-resistance is a red-herring that does nothing be destroy the value on your chain. Luckily, most communities like ZCash, Dash, Bitcoin Cash, Bitcoin accept and understand this basic fact. Thanks for reading!
submitted by thethrowaccount21 to ethfinance [link] [comments]

A Hefty Apology..

First, I'd like to apologies for how long this is going to be, but I believe context is everything.
I'd like to apologize to the Nano community. Since before the re brand I've always cracked jokes about the project, primarily because I can't stand moonbois.. but I digress.
I guess you could say I was early on the Bitcoin chain. I was blown away by the white paper and mined coins before ASICs we're even a discussion. Never got rid of them or anything, just thought it was an amazing concept to me since I had been repeatedly jacked around by a few banks. However, as a recurring theme life happened and I fell out of it completely. A few years went by when someone brought it up to me and when I asked how much it was worth, I almost had a heart attack. Probably shouldn't have spilled beer on the laptop holding my address and key. It didn't even cross my mind when I threw it out..
So I was back, other projects were on the come up and I took interest. Thought they were great, still do.. But I couldn't wrap my head around a lot of it. I'm familiar with code like I am around the block of an engine, but I'm not a mechanic. I couldn't fathom having to use a calculator to figure out how much gas I needed to send 100 coins of X. Thought I did it right and boom... Dust. The rage. Made some good strides and learned from previous mistakes, but I was still somewhat upset with decisions made within these projects. Who would think that was okay? Life happened again and I dropped out for quite awhile again to return back to a colleague at work mentioning BTC at around 9K. I quietly (I don't mention to many people about how involved I've been) checked out my addresses and was blown away. So I was back.
Yeah I made gains (lost a lot too), but I was already well on my way in life and career and didn't need the rocket in some dream of a lambo (Masi's are better). I just wanted all of this to work. Again, it seemed like it was too hard to do anything, move things around... Dust here, dust there.. None the less, I learned more. Taught myself some code just so I could understand the githubs.. No desire to code, just wanted to learn. The dream I saw a few years ago was growing and I felt optimistic. Stuck around for a long run and then life happened again.
Came back at probably the best time in late summer 2017. You want to talk about diversification... I just (today) burned a stack of papers with private keys written down to projects I forgot even existed. The mayhem! Anyway, won some lost some yeah yeah everyone has those stories....
I was still frustrated because that image I had in my head when I was a bit younger was not really fulfilled. Man, these moonbois, let me tell you. At the time and shortly after cracking jokes and having fun was basically my MO (I'm very sarcastic, still am). But yet again, life happened and I let everything just sit where the chips were.. With the exception of those burned out GPUs and the S9's. They went into the trash.
Life gave me a nice little easy path more recently and I've been poking my head around again. The moonboi epidemic is definitely at an ATH. But where the hell was this image I had years back and now and why did it seem like it died? Too many scams? Too many hacks? Too much smoke and mirrors? The founding idea is/was so perfect?
But I wanted that image. The past couple weeks I've been being my sarcastic ass and ripping a bit on Nano. I saw an actual well thought out post on Reddit and thought “Alright, that's pretty well said. Let me hear this out.” So I took a look. Thought it was better put together than other projects so I lurked around.
Today in the daily general I asked for a laymen's approach. I didn't need it, but I wanted to see what would be thrown at me. I was impressed. I saw on another thread about Natrium and a faucet... DAMN, that was fast. Alright I thought, let's dabble. So I did what I always do.. Took a little BTC to the exchange, picked up some nano, set up the ledger and mobile app and tested some stuff out.
Do you know the feeling after everything I just said to send 10 Nano from the exchange (including fee) to a mobile wallet, to the ledger, back to the mobile wallet and then back to the exchange and in the end... still have 10 Nano? In under less than I don't even know.. as fast as I could copy and paste it?!
I called for my wife took her phone and sent myself 10 Nano back and forth. Man am I an asshole. I'm not “In” so to speak, because honestly, at this point. I don't care about prices. I just want to use the shit. Life happens, I want to be able to continue down life and use this shit. The last time I actually used BTC for anything was in 2014.
BTC is digital gold for me.. Yeah, Yeah, Yeah... Sounds like some WSJ headline, I know. But it's been a good hedge against inflation for what's it worth. But during that second to last time I was back.. the Tx fees were unbelievable. Store of value, all the way, buying a snickers bar? No thanks mate.
I'm actually late to meet a friend at the bar for our weekly pint, was gonna just send this, but he's a moonboi. One sec. Lol --- 45 min later --- Alright, at the pub. Got him to download Natrium. We're now gonna just buy eac hother drinks for the next few hours.
I have some questions regarding decentralization.. bottle necking, spam transactions, but I can ask them in discord I guess. My only fear is that this could be replicated by Chase/BofA etc, but then again, I kind of left them years ago for a reason.
I'm sorry, okay. I'm sorry I was a sarcastic asshole. This is by far the closest thing I've wanted in a very long time. Send 1 Nano.. Get 1 Nano. Who would have thought. I'm going back to darts, but before I go...
- Can someone send me something on how to set up a node? Walk through maybe?
- Mods should pin this. I don't care about worthless internet points. Truth is I'm on my 9th or 10th Reddit account. So, I'll retire this one as soon as I hit send. But I think there is a valuable lesson from my time in this crazy town.
I'm not getting rid of my BTC and “going all in for the moonbois”. But I'll definitely be using my Nano. Whenever or wherever I can.
Thank you.
submitted by zBeale to nanocurrency [link] [comments]

CODE FUD: Resolved.

Dear Waltonchain community,
Yesterday we saw Waltonchain release their Open Source code which resulted in huge criticism regarding the oversight of removing the original copyright to the original codebase, Ethereum Go, on which it is based.
Following this, the team have now updated the code to show the original copyright:
Source: https://github.com/WaltonChain/WaltonChain_Gwtc_Src/blob/mastep2p/rlpx.go?utm_source=share&utm_medium=ios_app
Github: https://github.com/WaltonChain?tab=repositories

I'd like to say thank you to the community for having such strong opinion on this matter, and for all the subreddit admins that assisted in creating clarity toward this. As a global community we should hold every blockchain up to the same standards, and I am grateful that this was shown in regard to the GNU General Public License.

Now that the issue is resolved, and since Waltonchain is currently a hot topic, I implore all the coders and devs out there to delve deep into the code to see exactly what Waltonchain have released. Not just the modification to the eth codebase, but the additional code. What does the code allow?

What we've been told as a community is that the Waltonchain source code has changes that allows for:

Also to note is that the code has been audited by Knownsec, the same company that audited projects like HPB and NANO.

Lets have an open dialogue and talk about these features of the code - but firstly, do they exist? Hopefully people will approach this with the same enthusiasm as they did yesterday.

For reference:
Block explorer: www.Waltonchain.pro (all wallets, mining wallet, documentation etc is available via that link)
submitted by Yayowam to waltonchain [link] [comments]

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