7 Best ASIC Miners 2020: Tried and Tested With Reviews

Official News

Best All-Around Scrypt ASIC Miner,Litecoin Miner,Dogecoin Miner.The first pure Scrypt ASIC miner to ship. 300Kh/s @ 3W single chip.
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Newest ASIC Bitcoin Miner and mining {hardware} replace 2018 Samsung ASIC Miners W/10nm Chips

Newest ASIC Bitcoin Miner and mining {hardware} replace 2018 Samsung ASIC Miners W/10nm Chips submitted by Rufflenator to 3bitcoins [link] [comments]

Newest ASIC Bitcoin Miner and mining {hardware} replace 2018 Samsung ASIC Miners W/10nm Chips

Newest ASIC Bitcoin Miner and mining {hardware} replace 2018 Samsung ASIC Miners W/10nm Chips submitted by ososru to Bitcoin4free [link] [comments]

As it became known, the technology giant Samsung produces ASIC chips for bitcoin miners of the company Halong Mining.

As it became known, the technology giant Samsung produces ASIC chips for bitcoin miners of the company Halong Mining. submitted by ICO_world to u/ICO_world [link] [comments]

"Beijing-based ASIC chips designer and manufacturer Bitmain unveiled the new Antminer Z9 Mini, an ASIC miner particularly developed to mine cryptocurrencies running the Equihash proof-of-work (PoW) algorithm. https://t.co/n7tUPbaJUa" $btc $ltc $neo $eth #btc #bitcoin #cry…

submitted by fcukjerry to BitcoinDayTrade [link] [comments]

Multi apartment clustered cryptocurrency mining rig

So you’ve probably just heard all your classes are online. And now you’re trying to sublet your apartment but no one’s gonna take it. So now you’re gonna be paying at least $1000/month for an empty apartment. I have a proposal that can reduce that cost and possibly turn a profit.
Firstly, we have a very high risk credit market on our hands. The Federal Reserve has been pumping money into the economy and at some point the US dollar will have to inflate while growth stagnates (aka stagflation). During stagflationary periods in the past the price of non-fiat currencies like gold or silver has skyrocketed. Recently cryptocurrencies have emerged with the same general economic properties of such commodities. Therefore we may see an increase in their values as the Fed keeps pumping more money into the economy.
As of now in order to generate enough money per month to pay off rent in South Campus Commons, each apartment would need a Bitcoin rig capable of generating ~2200 TH/s (since you don’t pay for electricity). For the Varsity and View this might have to be higher considering the cost of electricity. This is definitely possible with new ASIC chips that are solely built for the purpose of running Bitcoin hashing algorithms. For other cryptocurrencies (Ethereum, Litecoin, Dogecoin), these rates may be different. But like any good portfolio manager, diversifying our investments will ensure we have a profitable outcome.
If enough students come together to construct a Bitcoin mining rig in their apartments we could essentially create a multi apartment clustered miner to be able to generate Bitcoin. On top of that, because campus server resources will be diminished due to online classes, we can in turn utilize that computing power to help mine such cryptocurrencies. As a result we won’t have to find people to sublet our apartments to and won’t have to worry about the financial undertakings associated with it.
TL;DR: Corona collectively fucked everyone in the ass and we should build a massive Bitcoin rig to pay off our rent.
submitted by terpetrator251 to UMD [link] [comments]

Dipping toe into blockchain sector, need guidance.

I’m debating these 3:
Which do you prefer if any, and why?
I’m going to very cautious with either as i consider them all pure speculative plays.
I’m also wondering if all that computing capacity could be profitable if converted to another mass application in case of blockchain becoming unprofitable? I know they are being used for research in Covid vaccine but are there any income generating venus tou can think of?
Any input is appreciated, thanks!
submitted by HMSS-Overkill to CanadianInvestor [link] [comments]

ETX officially announced to change the algorithm, here is a straightforward analysis about the influence

ETX officially announced to change the algorithm, here is a straightforward analysis about the influence
More dispersed computing power, which means that the coins will be further dispersed, and the value will be less controlled and influenced by a few people who controlled many coins. From the above examples of Monero and Monero Classic , we can see that changing the algorithm is a great positive signal for ordinary community users
According to the latest announcement on the official website of Ethereumx·NET (ETX), "Notice about the upcoming change of ETX algorithm and the opening of the testnet '', ETX will change the algorithm within the next 1-2 months. The reason is that the current large computing power miners pose a threat to ETX's long-term ecological planning in the future, because the large computing power mining has caused a very high concentration of chips. This can be seen through the blockchain browser. The future It may take time to balance the number of head coin holders and slowly digest with price space and time.

https://preview.redd.it/xtfbx9wbe6b51.png?width=624&format=png&auto=webp&s=386ccbcb51a658db2db07609152406df1c0927e3
Just like Bitcoin, there were only a few people digging with a computer at the beginning. Later, as the market slowly became aware, and then derived the ASIC algorithm mining machine, as the price increased, some head currency holders slowly reduced their holdings, and slowly reduced the threat they posed to Bitcoin. But even so, there are still an unsolved 200,000 bitcoins in MtGox. Some people even predict that when MtGox closes the case, it will be the crash day of Bitcoin.
It’s impossible for a new currency to go the way which Bitcoin had passed. The market competition environment today is completely different. There are endless new currencies appearing every day, so at the appropriate time to avoid the risk of expanding and taking the lead is necessary. This may be the reason why the ETX development team decided to change the algorithm.
There are many currencies that have changed the algorithm, and most of the results are relatively good. For example, Monero (XMR), Monero should be the most successful currency to resist the ASIC algorithm. In the process of fighting with ASIC repeatedly, without exception, the mining machine manufacturers were expelled from the door, ensuring many communities. But Monroe Classic has retained the ASIC-friendly algorithm because it has not changed the algorithm, and almost no one is interested today. We can get a glimpse of their straightforward price performance in the chart below.

  1. Monero with repeated algorithm changes

XMR's price with frequent algorithm changes, data source Coinmarketcap

  1. Asic algorithm-friendly (unchanged algorithm) Monero Classic

XMC’s price with no algorithm changes, data source Coinmarketcap
More decentralized computing power means that the coins are further dispersed, and the value can be less controlled and influenced by a few people. From the examples of Monroe and Monroe Classic above, we can see that changing the algorithm is a great positive signal to the ordinary community users. And the announcement on the official website mentioned that the testnet will be launched before the end of this month, and anyone who’s interested can go to have a look.
ETX developers take precautionary measures ahead of time, which is a manifestation of responsibility for all community users.
Refer to
Ethereumx·NET " Notice about the upcoming change of ETX algorithm and the opening of the testnet "
Coinmarketcap
Monero: GetMonero
*There are risks in the market, this article is not intended as investment advice
submitted by BitRay2077 to u/BitRay2077 [link] [comments]

Questions Regarding BTC Mining

I have been wondering about some of the details related to bitcoin mining bit couldn't find an answer, I would bet the answer can be found was I capable of looking up the mining algorithms but I'm not that savvy (not yet at least) so here it goes.
I understand that during mining, the miners take the hash calculated from a given block then appends a nonce to it and calculate SHA256 for the whole expression, if the hash value is larger than the limit set by mining difficulty, the miner must attempt again the SHA256 calculation again by appending a different nonce and repeat until a hash smaller than the limit is found.
What I wanted to ask is the following:
1) Is my understanding above correct? If not then please disregard the below questions since they would be garbage most likely (correcting the fault lines in my understanding would more than enough).
2) How are these nonces to be appended chosen? Are they chosen randomly at every attempt or changed sequentially by adding 1 for example?
3) Does the bitcoin blockchain enforces the use of a specific algorithm for generating nonces or is it left to the miners to concoct their own algorithms as they see fit? (If enforced by the bitcoin block chain, I'd appreciate an explanation why)
4) If the choice is left to miners to generate nonces as they see fit, what is the best approach to generating these nonces available?
5) In a mining pools where many ASICs are hashing together, is there any coordination at the pool or at least at individual ASIC miner level to ensure no two ASIC chips are calculating the hash for the same nonce while trying to find the block? If not, what are the difficulties preventing such an implementation?
Thanks in advance and if there are any useful resources addressing these questions please share them especially ones describing the mining algorithm generating nonces.
submitted by BitcoinAsks to BitcoinMining [link] [comments]

Epic Cash AMA Recap with CryptoDiffer Community

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

PoW or PoS: The Difference Between Mined and Non-Mined Crypto

PoW or PoS: The Difference Between Mined and Non-Mined Crypto
The whole crypto world discusses how Ethereum will switch from Proof of Work to Proof of Stake now. This change can significantly affect the cryptocurrency market. What are the positive and negative sides of PoW and PoS?
Cryptocurrencies can be divided into two types: those that can be mined (Bitcoin, Litecoin, Monero) and pre-mined ones (Ripple, Stellar, Cardano, EOS, NEO).

What is the big difference?

Although they differ in the method of generation, the basis of both types of crypto is the same: verification. Every transaction processed by the network must be verified by someone to ensure that virtual money has not been spent twice. Here we are talking about the difference in the verification process. Transaction groups are combined into a block; after verification, the block joins other previously confirmed blocks, and create a chain of transactions, or blockchain.

PoW: Mined Crypto

Mining is a process in which individuals, groups, or companies solve complex mathematical equations to verify transaction blocks using powerful computers. These math problems are part of the encryption process that protects transactions from cybercriminals and third party access.
The first who solves the problem and signs a block of transactions receives a reward. The miner, who confirmed the block of transactions e.g. in the Bitcoin network, receives a reward in BTC.

Disadvantages of Mined Crypto

  • Mining can be very expensive due to the large amounts of electricity consumed. In mined crypto with less capitalization, competition is usually lower than in BTC.
  • BTC mining requires special ASIC chips, that are combined into huge farms. Electricity is one of the main expenses for these projects. That is why China, where electricity is relatively cheap, has become a home to four of the five largest Bitcoin mining companies in the world.
  • Mining farms have to spend significant money funds on new equipment, which becomes out of date very fast.
  • Large projects need additional cooling, as servers and graphics cards heat up to high temperatures during operations.
  • The Proof-of-Work model is potentially vulnerable to a 51% attack (when a group of people with 51% of the computing power gains control of the network and its participants). For popular cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), and Monero (XMR) this is not a problem due to their large capitalization. However, minor cryptocurrencies with long block processing times and low daily volumes are risking a lot.

PoS: Non-Mined Crypto

At the other end of the spectrum are pre-mined cryptocurrencies such as Ripple (XRP), Stellar, Cardano, EOS, and NEO.
In the PoS model, super-powered computers are not needed, and participants do not compete for the right to sign the next block. Thus, the costs of this approach are significantly lower. Transaction verification is carried out by cryptocurrency owners. The more cryptocurrencies you have, the longer you own it, the higher the probability that you will be selected to check the transaction block.
Certain mechanisms are built into the system that prevents the dominance of large cryptocurrency holders over the verification process. There are many random ways to select owners who get the right to sign a transaction block. This ensures that small holders have a chance to participate in the process.

Disadvantages of Non-Mined Crypto

Despite the fact that the costs of the Proof-of-Stake method are lower, PoS has its drawbacks.
  • Such cryptocurrencies are not threatened by an attack of 51%, however, another trouble replaces it — a person who posses 51% of all tokens in circulation can gain control of the network and its participants. Of course, in the case of cryptocurrencies with high capitalization, the possibility of this scenario is low, but small partners may suffer from this vulnerability.
  • The Proof-of-Stake model also gives major owners additional votes in determining the future development of the network. Most NEO tokens) belong to several founders, for instance. This helps increase transaction speed and reduces consensus-building time, but also makes cryptocurrency too centralized. In other words, in the PoS model, large players gain significant power, which is theoretically impossible with the PoW model.

Which method is better?

Both methods have their pros and cons. Nevertheless, sooner or later, some of the largest mined currencies (e.g. BTC) will reach their token limit. At this point, they will have to switch to Proof-of-Stake. Since it significantly reduces power consumption and doesn't require powerful computers, gradually all crypto including BTC will switch to a non-mined model just like Ether did.

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https://preview.redd.it/2ticyj57a6051.png?width=3300&format=png&auto=webp&s=2ed429625a45588ef371862af3bc1f71a23c34a3
submitted by CoinjoyAssistant to ethtrader [link] [comments]

Forbes miner's union plan, let you make it clear

Forbes miner's union plan, let you make it clear

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Learn from famous teachers: Dao organization comes from Cosmos, poca and other well-known open source projects as well as a number of Wall Street financial practitioners
Grounded Technology: the core research direction of blockchain developers "cross chain"
Looking at finance: building distributed financial infrastructure
Layout of mining industry: "mining machine, mine field and mine pool", and strive to build a trinity of mining giant whale in 2020
In 2020, Forbes, the most concerned blockchain 4.0 project, is about to launch its global mining plan: Forbes has released its own ASIC chip bitcoin miner, and GFS hard disk miner is under development. At the same time, Forbes deployed mines in various regions of the world, including China, Southeast Asia, the United States, Australia, Russia and other places, to protect the "consensus".
Forbes receives f2pool Based on the deployment of mining machines and mines in 2020, the Forbes plan will be launched with the strong support of internationally renowned mining pools. It is expected to build into the world's largest, most open and transparent comprehensive mine pool within three years.
Miner and quarry
Blockchain is revolutionary. It allows anyone to own and transfer assets through an open financial network without a trusted third party. There are now thousands of blockchain based assets, and the main way to produce encrypted assets is mining. "Mining", i.e. encrypted assets, represents the wealth anchored by the blockchain system, "mining" is the most direct means for all the network to obtain wealth. When the miner obtains the right to pack the blocks according to the consensus rules based on cryptography, and packages all the transactions correctly, the mining behavior can obtain the reward (token) given by the blockchain system for its honest record of the blocks, and when the blockchain system gains value promotion due to the growth and development of the participants, the token obtained by the miner will also be given higher and higher The secondary market value of. The miners produced the initial system pass. Therefore, mining industry has become the most upstream of blockchain industry.
It can be said that mining industry is the foundation of the whole blockchain industry, which determines the 0 or 1 of a blockchain system. The mining equipment we use is the miner.
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The miner is essentially a computer. Personal computer is generally composed of CPU, GPU, memory, hard disk, motherboard and other devices. Mineral machinery is no exception in nature. Any mineral machinery is composed of motherboard + hard disk + mining chip. However, due to different mining machines for different algorithms of digital assets, such as GPU (or ASIC) for BTC, ETH mining, CPU for Monroe money mining, hard disk for IPFs, Bhd and other projects mining.
Forbes mining machine in the main board, hard disk, mining chip innovation, Forbes uses dpoc consensus algorithm, belongs to the hard disk mining branch. Forbes with the strongest computing power is also in the field of the Internet of things. In foreign countries, everything is connected, hundreds of millions of intelligent devices are connected with each other, and they have super computing power and stability. Forbes mining machines all over the world will be very suitable for the deployment of Internet of things protocol, and become an important component of blockchain + Internet of things.
The mine site is the offline site for the deployment and maintenance of mining machines. But for ordinary investors who want to enter the market, mining is difficult because the mining threshold is too high. Personal users want to mine, there is a huge deployment threshold and technical threshold. First of all, individuals can not get excellent electricity price, high temperature and high noise environment makes it impossible for users to mine at home. In addition, mining needs to be configured and deployed, and expensive mining machines need to be maintained regularly. Musk said that Tesla is not selling cars, but workshops. Standardization is necessary for an industry to achieve success. In the early miner Alliance Plan, Forbes launched its own BTC ASIC chip and bitcoin miner. At the same time, combined with major capitals, it created a global standardized Forbes mine, which was deployed and maintained in a unified way, greatly extending the service life of Forbes miner. According to the simulation test, Forbes I miner can operate stably for more than six years, which greatly reduces the mining cost and enables investors to obtain higher profits. Later, Forbes will log in to the Forbes hard disk miner in the ore pool after the main network goes online.
Forbes miners Alliance Program
Miner Alliance Plan: during a period of time when Forbes main network goes online, users can use collateral parallel chain assets (such as usdt, BTC, etc.) to lease computing power to deploy mining machines in global mines. In the lease term, the deposit is returned by the smart contract according to the number of days, and the mining revenue is obtained by the early participating nodes.
Due to the cross chain implementation of Forbes, a large number of nodes need to be deployed in the early days to complete the information interaction between the relay chain and the parallel chain. And with the scale of ore pool access, the marginal cost of new mining machines will be lower and lower, and the revenue will grow steadily. Therefore, Forbes started the plan of Forbes miners' alliance, realized the rapid scale of the mining pool with market funds, and realized the stable growth of mining profits.
Through the miner alliance, users can rent mining machines. In the form of "deposit contract" to ensure that each miner's fund is dedicated, and at the same time, for each miner, it is considered to realize the real deposit settlement on schedule through the blockchain intelligent contract. After the Forbes miner generates mining revenue, the user will get kusd stable currency. In the operation plan of Forbes Dao, all the miners who join the mine have the opportunity to convert part of the profits into GFS with unlimited potential.
It is estimated that the early participants in the Forbes miner's program will have more than 1.6 times the deposit during the lease term of one year. It was asked where such gains came from. In fact, as a representative project of blockchain 4.0, the appreciation of GFS is inevitable. At present, the trading of GFS secondary market has increased by more than 10 times in a week. With the continuous extension of parallel chain and the continuous exploration of financial business, there is almost no doubt that the growth of GFS exceeds that of bitcoin in a year, even if it is halved. Forbes Dao mass produces Forbes super miner through the digital assets mortgaged by users. After the cost is removed, it covers more than 1.6 times of the revenue to nodes. Almost the secondary market value of GFS alone is far beyond.
In addition, the BTC value dug out in the miner's Alliance plan will become a stable support for the miner's Alliance Plan, and 2020 is known as bitcoin minus half a year. Get BTC while digging GFS. To say the least, the price of GFS has fluctuated, and the BTC dug out is actually stable. Not to mention that the layout of Forbes gold stable currency, Forbes DEX and so on has been dragged down, and the user's income is cashed at any time. Forbes' miner plan is a three-way and multi win business initiative, which is the distributed power.
submitted by forbeschain to u/forbeschain [link] [comments]

Leads you to a comprehensive understanding of Forbes

Leads you to a comprehensive understanding of Forbes

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What is the hottest blockchain project in 2020?
Besides GFS, GFS is still GFS in my mind! GFS currency - the only token of Forbes cross chain blockchain!
Forbes is the latest generation of blockchain, which can be said to be a new blockchain mode, or it is not a pure blockchain project. As we all know, in the era of blockchain 1.0, the bitcoin of Nakamoto brings decentralized distributed bookkeeping book, which enables human beings to have just assets for the first time; in the era of 2.0, the Ethereum smart contract created by V God makes the blockchain have divergent applications; in the era of 3.0, innovation public chains such as EOS make the application of blockchain easier to land. It will open Forbes in the era of blockchain 4.0 and create a distributed financial era of "ten thousand chain interconnection". My feeling is that Forbes is going to overthrow the traditional Internet and the classic blockchain, and reshape a financial world built directly on the blockchain.
The most classic sentence on the Internet is: change your life, but it has nothing to do with you.
In this way, Forbes uses the philosophy of blockchain and further technology to redo blockchain and bring blockchain to a new dimension. Today's bitcoin looks like a monument and a myth, but Forbes is using its cross chain technology and financial deployment to gently reinterpret the blockchain.
Next, I will expand what you are concerned about and what I see in the form of Q & A:
1. Is it investment or speculation to participate in Forbes?
Although we do not exclude speculation, there is no doubt that participating in Forbes is one of the best investment behaviors in 2020, no less than investing in bitcoin in 2013 and Ethereum in 2016. Forbes is a pure technology project, with no messy black box operation. As Forbes early deployed the ore field to facilitate the construction of cross chain system, early users can rent the Forbes BTC miner loaded with self-developed bitcoin ASIC chips by way of mortgage, with the strongest configuration on the ground. Moreover, in the process of mining, the early nodes do not even need to pay a penny, only mortgage deposit can deploy the physical miner. The income obtained can also participate in the early stage node plan carried out by Dao organization, and part of the income can be converted into GFS through Forbes wallet.
And the deposit is not a routine, all the mortgage deposits will be locked in the chain. With the shortening of the lease term, each day will be returned to the user's wallet through the "deposit smart contract", without any centralized individual and organization participation in the whole process. In this way, it is equivalent to zero risk investment! After all, Forbes, with its cryptology and open source spirit, is inherently powerful. What Forbes wants to change is the life of centralization!
And then there's no more. Jane is not simple.
2. Why do you like Forbes?
Very simple, blockchain 4.0
First of all, let's not talk about anything. Forbes has solved a problem - mining hegemony.
In the past, blockchain seems that nodes can enter and leave freely, but in fact, it needs a huge threshold to become nodes and obtain mining rewards. Whether it's bitcoin, you need to buy very expensive and complex mining equipment (ASIC miner), or EOS, Tron and other POS projects, and you need to hold a large number of coins to be elected as nodes. All in all, most of the current blockchain systems need very high mining costs, which in essence violates the principle of zhongbencong's blockchain design.
The powerful thing about Forbes is that it creatively constructs dpoc as a consensus mechanism of trunk chain (main chain). Dpoc is a kind of common understanding of POC. There is no big deployment threshold for mining with hard disk miner. As a result of the consensus between Forbes blockchain Multi Chain Design and dpoc, all mining machines that do not have the relay chain node selected can pack the interaction information between the parallel chain and the relay chain, and can also obtain the block reward. In essence, such a design realizes Zhongben Cong's idea that everyone can dig. Let alone Forbes to build a mine pool, to build the strongest mining machine that can dig out the Forbes token GFS.
With this in mind, which blockchain product can match.
Layout of Forbes
The vision of Forbes: to build the most universal distributed financial system in the world, driven by Forbes, the most widely used cross chain system in the world.
I saw two key words: cross chain, distributed Finance
Cross chain is the most urgent problem in current blockchain ecology. In the past 10 years, various blockchain systems have been deepening in security and performance, but no progress has been made in chain and chain scalability. As you can see, the chain and the chain is an island. Can EOS players and wave players break the bond?
In the human financial life, transaction, loan, personal credit, supply chain finance, stock, commodity... They are directly full of interaction and connection. It can be said that human beings are dealing with all kinds of transactions all the time. Can the isolated blockchain really solve the problem?
Forbes is born to be a global distributed financial system and truly a financial ecosystem. Imagine what a change it would be if you could smoothly carry out blockchain financial activities with foreign small partners. This pattern is too big for me to say. But please believe that if this is done, it can be described as a complete disaster.

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3. Is it better to mine or invite new people?
Since this is my experience interpretation, I think: invite, boldly invite new people. Every time you invite one, you add a certain amount of calculation power. It's good to mine in Buddhism, but if you can participate in the birth of a great project, you can get more profits. Why not?
Let's take a different perspective: now that you recognize Forbes, you recognize its value. Or you're not going to dig, are you! So, why can't we add more yards! Since we are trying to change our destiny, this is the highest lever. If it does, which lever can be bigger than Forbes!
So, invest money or energy, and do what you can.
4. Do I want to join the Forbes pool project?
Do you want to do it.
They all recognize the value, so they can download the application directly.
My original intention:
First of all, GFS coin is a new mining model - POC hard disk mining that "everyone can dig, everyone can benefit". It avoids pow (proof of work workload) which is a large power consumption mode. In the initial stage of the main network online, Forbes opened the mine pool plan, leasing the mine machine at zero cost, becoming the earliest node of blockchain 4.0 representing the project, and obtaining the maximum benefit. Why not? You know, GFS production is also halved in four years. To dig now is to dig bitcoin before 2013, without cost.
Secondly, in this stage, we can also increase the number of invited nodes. After the completion of the mining pool plan, we can only rely on hard indicators to increase the computing power. Now we can also rely on our efforts to get more profits. Therefore, in the face of equal opportunities for all, this is a great opportunity to take the initiative. Still hesitant?
5. Blockchain is my knowledge blind area. What can I do if I don't understand cross chain knowledge?
First of all, you have to ask you, this is the excuse you don't want to get wealth?
Not only Forbes is your knowledge blind area, but blockchain is a knowledge blind area for ordinary people. However, you should know that in 2020, the State advocates blockchain, the central bank DCEP has been put into trial operation, and blockchain has been applied in many aspects. Are you still in your blind spot?
Of course, it's not good to pull the national flag. Let's talk about something practical. Opportunity always appears in new things. Ask, what's the matter with you, a solidified model? You have money or connections. I believe that choice is more important than effort. A road, if we choose the wrong direction at the beginning, the harder we work, the farther away we are from our goal.
Therefore, the knowledge blind spot is not my problem, but whether you have a heart willing to contact new things!
Among the miners I know, there is a 67 year old elder brother who has been a soldier, a factory, a traditional businessman and a cell phone. Do you still have his blind spot?
6. Will Forbes succeed?
To be honest, I don't know. But I know that it is the blockchain project that I hope to reach the most in 2020. For details, please refer to the second question, why I like Forbes. If you really question Forbes, you can choose to only participate in the "miner Alliance Plan" and choose to mine at zero cost. No matter how the Forbes project progresses, you can get the benefit of mining without cost. Why not? Besides, when the Forbes project is really implemented, you can decide whether to invest in GFS. I'm sure you will have your own judgment at that time.
7. What is the most important thing to dig GFS?
Insist, insist, or insist.
We must make full use of our efforts in the earliest planning activities of the mine pool. After all, mining at zero cost + inviting to increase the calculation power and increase the support in the wet season. At this stage, we must dig more coins and exchange more for GFS. Maybe the reward coins you dig out in three months can't be found in a year after you try to buy hard disk mining machines for nodes.

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8. There are so many people who rent mining machines first. Do I have a chance?
People die more than people, and goods are thrown away more than goods. Don't compare with others, just be yourself.
God said, I can fulfill your one wish, but I will give you twice as many neighbors.
You will choose 10 million positive choices,
Or one less arm in the dark?
Mining is like this. Those old miners are your neighbors. Dare to own 10 million good, do not think about neighbors than you 10 million. Is that right? And when there are 10000 GFS, do you still want someone to have 100 more than you?
9. How much is GFS worth?
To be honest, I don't know. The number of GFS is 21 million bitcoin, and the price of bitcoin is about 60000 yuan. The GFS main network has just been launched. In some markets, its price has increased more than 10 times in five days, far exceeding the price of bitcoin before the half reduction. The miners who rent mining machines in advance are blessed.
As for the future, with the start of the implementation of blockchain financial facilities this year, GFS must be just the beginning. Where is the top? We witnessed it together.
10. Which do I want, kusd or usdt?
For now, it doesn't matter which one you use. Although usdt has a lot of potential risks, there are still many people using it. However, we all know that it will have a thunderstorm sooner or later.
As a cross chain gold stable currency, when cross chain finance begins to integrate into public life, kusd will show its power, which is better than issuing a usdt once in a chain. Moreover, more than 95% of the value of each kusd is based on gold, which can be exchanged by major gold exchanges in the world. The stability of gold. Have you seen it clearly in this epidemic? This is beyond the dollar.
submitted by forbeschain to u/forbeschain [link] [comments]

Bitcoin's Current Production cost in China is ~$3,200. What will it be after next years halving?

Satoshi said himself "The price of any commodity tends to gravitate toward the production cost. If the price is below cost, then production slows down. If the price is above cost, profit can be made by generating and selling more. At the same time, the increased production would increase the difficulty, pushing the cost of generating towards the price. "

We know the production cost (in China where it's cheaper) is 3,200 -- also happened to be the bottom. What will the production cost to produce one BTC once this next halving occurs? How can this be calculated?

EDIT: People are asking where I found this information. I extracted it from these two sources:
https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25
https://www.tradingview.com/chart/BTCUSD/3eCM0tWa-What-Satoshi-said-about-price-action/
submitted by cryptoeric to CryptoCurrency [link] [comments]

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

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

ProgPoW resources

Informational

May 2, 2018 EIPs/eip-1057.md at master · ethereum/EIPs · GitHub
May 3, 2018 ProgPOW/README.md at master · ifdefelse/ProgPOW · GitHub
May 3, 2018 EIP-ProgPoW: a Programmatic Proof-of-Work - EIPs - Fellowship of Ethereum Magicians
May 29, 2018 The Problem with Proof of Work - K. L. Minehan - Medium
October 25, 2018 Understanding ProgPoW - IfDefElse - Medium
Nov 17, 2018 progpow-wiki/ProgPoW.md at master · MariusVanDerWijden/progpow-wiki · GitHub
December 10, 2018 ProgPoW - A Programmatic Proof of Work by Kristy-Leigh Minehan (Devcon4) - YouTube
January 10, 2019 ProgPoW FAQ - IfDefElse - Medium
January 14, 2019 What GPU miners may not know about ProgPoW - Andrea Lanfranchi - Medium
January 17, 2019 ProgPoW: Progress Update #1 - IfDefElse - Medium
February 14, 2019 Council of Denver - HackMD
February 17, 2019 The Miners Benchmark ProgPoW - Theodor Ghannam - Medium
February 21, 2019 Ethereum ProgPoW Explained - Crypto Mining Blog
March 18, 2019 13 Questions about Ethereum’s Movement to ProgPow by Jon Stevens - Medium
March 20, 2019 Skeptical about #ProgPoW? I am too! - Bryant Eisenbach - Medium
March 27, 2019 Comprehensive ProgPoW Benchmark by Theodor Ghannam - Medium
March 28, 2019 My stance on Progpow by Martin Holst Swende
March 30, 2019 The Cost of ASIC Design - IfDefElse - Medium
April 12, 2019 Ethereum ProgPoW Update - Crypto Mining Blog
September 23, 2019 In Defense of ProgPow : ethereum
February 4, 2020 Antminer E3 Stops Mining Ethereum Classic, Just Over a Month Remaining for Ethereum - Crypto Mining Blog

Ethereum Magicians

August 2, 2108 Final Request From the GPU Mining Community - EIPs - Fellowship of Ethereum Magicians
August 26, 2018 EIP-1355: Ethash 1a - EIPs - Fellowship of Ethereum Magicians
September 3, 2108 What has to be done to get ProgPoW on Ethereum - EIPs - Fellowship of Ethereum Magicians
January 1, 2019 Guidelines for ProgPow Hardware Developers - Primordial Soup - Fellowship of Ethereum Magicians
February 2, 2019 On the progpow audit - Action Item - Fellowship of Ethereum Magicians
March 3, 2019 My technical take on ProgPow’s weakest link - EIPs - Fellowship of Ethereum Magicians
March 4, 2019 Governance concerns after listening to ~all ProgPow discussions on Core Dev calls - Process Improvement - Fellowship of Ethereum Magicians
March 29, 2019 Motion to NOT include ProgPow without audit - EIPs - Fellowship of Ethereum Magicians
March 30, 2109 ProgPoW - A Compilation of Reference Material - Core EIPs - Fellowship of Ethereum Magicians
May 23, 2019 ProgPoW Audit Delay Issue - EIPs - Fellowship of Ethereum Magicians
July 8, 2019 Ensuring ETH 1.x’s Success Without Disenfranchising The Community - Ethereum 1.x Ring - Fellowship of Ethereum Magicians
August 8, 2019 EIP-centric forking - Process Improvement - Fellowship of Ethereum Magicians

YouTube

October 8, 2018 Cardano Rust Project | Petro Public Sale | ProgPow | WSJ Attacks Shapeshift (October 2nd, 2018) - YouTube
October 23 2018 Ethereum Mining News | FPGA’s Mining | ProgPoW LIKELY | Profitability | Hard Fork Delayed 2019 - YouTube
December 13, 2018 Why ProgPoW is BAD for Ethereum - YouTube
December 19, 2018 Bitcoin Rallies Towards 4k - Why? Ethereum Launches ProgPoW GPU Mining Testnet | New HD Minable Coin - YouTube
January 4, 2019 Ethereum moving to PROGPOW! What’s it mean for Miners? - YouTube
January 4, 2019 Ethereum ProgPoW CONFIRMED! - YouTube
January 5, 2019 Mining on the ProgPoW Gangnam Ethereum Testnet! - YouTube
January 6, 2019 6 x Asus RX 570 4GB ProgPoW Gangnam Ethereum Testnet TEST! - YouTube
January 7, 2019 ProgPOW Explained - A Brave New World for Ethereum Miners? - YouTube
January 20, 2019 CES2019 - North American Bitcoin Conference - GRIN / BEAM - PROGPOW and more! - YouTube
January 23, 2019 Ethereum to ZERO? Eth Chain Split. ProgPow & ETC 51 % Attack. GPU vs ASIC Miners. - YouTube
January 29, 2019 Nick Johnson: Future of the Ethereum Name Service and thoughts on ProgPOW - YouTube
February 19, 2019 Ethereum Hard Fork Soon? ProgPoW Voting? - YouTube
February 20, 2019 ProgPoW Merged Into Parity Ethereum | ETHNews Brief - YouTube
February 25, 2019 How does R7 370, R9 380,380x,390 and more perform on PROGPOW and other Cryptocurrencies in 2019? - YouTube
March 7, 2019 PROGPOW Explained in under 4 min. & why it matters to GPU Miners - YouTube
March 19, 2019 What is BBT doing with PROGPOW, Why all of the testing? - YouTube
March 25, 2019 eVGA RTX 2080Ti FTW3 11GB DDR6 Cryptocurrency Performance Test PROGPOW ETH RVN BEAM GRIN29 GRIN31 - YouTube
March 29, 2019 Ethereum & ProgPoW… What Is Going On? - YouTube
May 2, 2019 Ethereum ProgPow Audit Has Been Funded & Approved - YouTube
July 5, 2019 Mining News! Monero RandomX | Ethereum ProgPoW 2019 Update | Grin Embraces ASIC miners | Zel Zelhash - YouTube
July 24, 2019 Ethereum ProgPoW AUDIT Is Finally Getting Started… - YouTube
September 13, 2019 Ethereum ProgPoW Algorithm Audits Finalized - YouTube
September 24, 2019 An Argument Against ProgPoW a Day - Part 1 - YouTube
October 4, 2019 82 - Defending ProgPoW with Kristy-Leigh Minehan - YouTube
October 10, 2019 #36 - Kristy-Leigh of ProgPow discusses the EIP, Satoshi, Code Contributions, and Crypto Mining 2020 - YouTube
November 24, 2019 Ethereum Classic REJECTS ProgPoW… - YouTube
December 16, 2019 Ethereum ProgPoW Implementation Is STILL Coming Right? - YouTube
December 26, 2019 Panel: Least Authority’s ProgPoW Audit (Devcon5) - YouTube

Podcasts

April 11, 2019 https://podcasts.apple.com/us/podcast/blockchannel/id1307284590?i=1000434669782
September 10, 2019 https://podcasts.apple.com/us/podcast/ethhub-weekly-recap-78-ethboston-compound-drama-eth2/id1443920565?i=1000449269536
September 25, 2019 https://podcasts.apple.com/us/podcast/ethhub-weekly-recap-80-progpow-discussion-doj-extortion/id1443920565?i=1000451214746
October 4, 2019 https://podcasts.apple.com/us/podcast/82-defending-progpow-with-kristy-leigh-minehan/id1436674724?i=1000452312677

Official Updates

May 18, 2019 Dev Call #38 - May 18, 2018
August 24, 2018 Dev Call #45 - August 24, 2018
September 28, 2018 Dev Call #47 - September 28, 2018
January 4, 2019 Dev Call #52 - January 4, 2019
January 18, 2019 Dev Call#53 - January 18, 2019
February 1, 2019 Dev Call #54 - February 1, 2019
February 11, 2019 Ethereum Cat Herders Update#1 : EthereumCatHerders
March 15, 2019 Dev Call #57 - March 15, 2019
May 24, 2019 Dev Call #62 - May 24, 2019
July 18, 2019 Dev Call #65 - July 18, 2019
September 10, 2019 ProgPoW Audits Released - Ethereum Cat Herders - Medium
September 6, 2019 Dev Call #70 - September 6, 2019
November 1, 2019 Dev Call #74 - November 1, 2019
December 13, 2019 Dev Call #77 - December 13, 2019
January 24, 2019 Dev Call #79 - January 24, 2020
February 21, 2020 Dev Call#81 - February 21, 2020

News Articles

January 4, 2019 Ethereum Core Devs to Move Forward With ASIC-Resistant PoW Algorithm
January 5, 2019 Ethereum (ETH) Developers Plan to Implement ASIC-Resistant Proof of Work Mining Algorithm
January 7, 2019 BREAKING: Ethereum Classic (ETC) Hit With 51 Percent Attack A Week Before Ethereum (ETH) Constantinople Hard Fork – Crypto.IQ | Bitcoin and Investment News from Inside Experts You Can Trust
January 8, 2019 ETH Dev Suggests Moving to ‘ASIC-Friendly Algorithm’ After ProgPoW Decision
January 8, 2019 Ethereum Miner Linzhi Calls Out Project Coders for Proposed ASIC Ban - CoinDesk
January 8, 2019 Ethereum (ETH) Core Developers Propose an ASIC Resistant Upgrade - Ethereum World News
January 9, 2019 Ethereum Classic (ETC) 51% attack proof that shitcoins have no hope of succeeding? | CaptainAltcoin
January 9, 2019 What’s ProgPoW? Meet the hot new debate in the Ethereum community | finder.com.au
January 18, 2019 Ethereum Core Devs Constantinople Meeting to Be Held on Jan 18
February 1, 2019 Ethereum Core Dev Call #54: Waiting for ProgPoW - The Block
February 3, 2019 Will Ethereum Adopt ‘ProgPoW,’ the ASIC-Resistant Mining Algorithm? | CryptoSlate
February 4, 2019 Is Ethereum Going to be Adopting ASIC-Resistant ‘ProgPow’ as a Mining Algorithm?
February 15, 2019 Ethereum Core Dev Call #55: ProgPoW audits and Vitalik’s Phase 2 updates - The Block
February 15, 2019 Recompensas por minería en Ethereum llegan a mínimo histórico | CriptoNoticias
February 28, 2019 Coinhive dice adiós a la minería web por caída del mercado | CriptoNoticias
March 6, 2019 Ethereum Core Dev Meeting : ProgPow Implementation Receives More Than 50 Percent Votes from Miners - CryptoNewsZ
March 7, 2019 The ASIC Resistant Mining Campaign from Ethereum Miners Is Just Getting Started
March 12, 2019 Ethereum’s ProgPoW Proposal: An Expensive Game of Whack-a-Mole - CoinDesk
March 12, 2019 Ethereum’s ProgPoW Mining Change to Be Considered for Istanbul Upgrade - CoinDesk
March 14, 2019 As ProgPoW Aimed at Stopping ASIC Mining Gets Supporting Votes, New Conspiracies and Debates Appear
March 15, 2019 Ethereum’s ProgPow Mining Change Approved Again, But Timeline Unclear - CoinDesk
March 17, 2019 Ethereum Devs Once Again Approve ASIC-Resistant Algorithm ProgPoW
March 18, 2019 Ethereum (ETH) to Be ASIC-Resistant, No Date Set However - Cryptovest
March 27, 2019 Aumentan desacuerdos en Ethereum por decisión de avanzar con ProgPoW | CriptoNoticias
March 29, 2019 Bitmain Co-founder, Jihan Wu: ASIC Miners Makes a Blockchain Network More Decentralized - Coindoo
April 8, 2019 A Fight Over Specialized Chips Threatens an Ethereum Split | WIRED
April 26, 2019 Funding Approved for Audit of Ethereum’s ProgPoW Mining Proposal - CoinDesk
April 28, 2019 Ethereum Core Devs: Funding for ProgPoW 3rd-Party Audit Approved
April 20, 2019 Ethereum’s Recent Decline in Hashrate ‘Not Surprising’: Cyber Threat Expert Explains | CryptoGlobe
June 14, 2019 Proposed Ethereum Istanbul Hard Fork Combed With A Fine Tooth at Cat Herders Meeting
July 13, 2019 ¿Qué es ProgPoW? La propuesta de algoritmo contra mineros ASIC en Ethereum | CriptoNoticias
August 17, 2019 Ethereum: ProgPow will be activated on the mainnet next year as a part of Istanbul 2 - AMBCrypto
August 18, 2019 Ethereum’s ProgPoW To Be Released The First Quarter Of 2020 | UseTheBitcoin
August 19, 2019 Ethereum to Switch to ProgPoW Mining Algorithm in Upcoming Istanbul Hard Fork
September 8, 2019 Ethereum: ProgPoW high level design goals are reasonable towards achieving its intended economic effect - AMBCrypto
September 11, 2019 Chinese Firm Linzhi Set To Mass Produce Ethereum and ETC ASIC Miners As Tests Go Live
September 18, 2019 Ethereum ProgPOW author uninvited from ETC Summit due to Craig Wright association | CryptoSlate
September 19, 2019 Ethereum reveals launch dates for testing Istanbul - Decrypt
September 19, 2019 Hashing Out: ProgPoW Debate Kicks Up in Ethereum Community Again
September 19, 2019 ETC Summit Invitees List Has No Space for Kristy Minehan
September 22, 2019 Ethereum ProgPoW upgrade causing chain split more likely to be from the user side instead of the miner side - AMBCrypto
September 23, 2019 ProgPow advocate uninvited to Ethereum Classic Summit over links to Craig Wright
September 24, 2019 ProgPoW backer steps down from controversial role - Decrypt
September 25, 2019 ProgPOW author steps down as Core Scientific CTO, vows to implement algorithm on Ethereum | CryptoSlate
September 25, 2019 Ethereum ProgPoW proponent Kristy-Leigh Minehan steps down citing perceived conflict of interest - AMBCrypto
September 25, 2019 Core Scientific CTO Steps Down To Push Through Ethereum ProgPOW
September 25, 2019 ProgPoW author Kristy-Leigh Minehan resigns as CTO of Core Scientific | Cryptopolitan
September 26, 2019 New Ethereum ASIC dominates GPU mining performance | CryptoSlate
September 26, 2019 New Ethereum ASIC Fuels Discord Among Ethereum Community
September 28, 2019 The (alleged) plot against the Ethereum network - Decrypt
October 9, 2019 ProgPoW, the Algorithm Dividing the Ethereum Community: a GPU Manufacturer Ploy? - Ethereum World News
October 9, 2019 Ethereum Hard Fork Is Coming — Here’s What You Need to Know About ‘Istanbul’ – BeInCrypto October 27, 2019 Ethereum ProgPoW’s raison d’etre: To be or not to be - AMBCrypto
November 4, 2019 Aragon Opposes Change to Ethereum’s Mining Algorithm Before 2.0 Version
November 7, 2019 Aragon community against Ethereum ProgPOW
November 8, 2019 Ethereum Istanbul Hard Fork Release Date Confirmed By Core Developer
November 16, 2019 Ethereum ProgPoW audit contributors on Gitcoin to be refunded in full - AMBCrypto
November 26, 2019 Ethereum’s Buterin: PoW algorithms offering medium-level ASIC resistance can be created - AMBCrypto
December 17, 2019 Ethereum devs move ProgPoW into ‘Eligible for Inclusion’ list - AMBCrypto
January 1, 2020 [Is the ASIC Resistance dream closer to reality, despite claims of it being a myth? - AMBCrypto](https://eng.ambcrypto.com/is-the-asic-resistance-dream-closer-to-reality-despite-claims-of-it-being-a-myth/
submitted by greerso to ethereum [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/
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Forbes, the King of Cross-Chain

Forbes, the King of Cross-Chain
What is the most popular blockchain project in 2020? There is no doubt that it is the strongest cross-chain — Forbes .
https://preview.redd.it/ilkbp22f1wz41.png?width=870&format=png&auto=webp&s=4fc2a8a12e71d0f84403c917b0c140c696ac7dab
Forbes is the latest generation of blockchain, so it can be said that it is a brand new blockchain model, or it is no longer just a blockchain project. As we all know, in the era of blockchain 1.0, Satoshi Nakamoto's Bitcoin brought decentralized distributed bookkeeping, which enabled humans to have equity assets for the first time. In the era of 2.0, the ethereum smart contract created by V god has enabled the divergent application of blockchain; In the 3.0 era, the innovative public chain such as EOS makes it easier to implement block chain applications. Forbes, which will usher in the era of blockchain 4.0, will create a distributed financial era of "10,000 chain interconnection". It gives me the impression that Forbes wants to demolish the traditional Internet and the classic blockchain and reshape a financial world built directly on the blockchain.
The Internet's most classic phrase is: change your life, but it has nothing to do with you.
Forbes is doing just that, redoing blockchain with the philosophy of blockchain and further technology, taking blockchain to a whole new dimension. Today's bitcoin looks like a monument and a myth, but Forbes is gently reinterpreting the blockchain with its cross-link technology and financial deployment.
Getting involved with Forbes is one of the best investments in 2020, just like investing in bitcoin in 2013 and ethereum in 2016. Forbes is a purely technical project, not a backroom operation. Since Forbes early deployed pool mines to facilitate the construction of the cross-chain system, early users could rent the ForbesBTC mining machine loaded with self-developed bitcoin ASIC chip by means of mortgage, with the strongest configuration on the surface. And in the process of mining, the early nodes don't even have to pay a penny, and they can deploy the physical miners just by pledging a deposit. The proceeds can also be converted into GFS through the Forbes wallet by participating in the DAO organization's early-stage node plan.
And deposit is by no means a routine, all mortgage deposit, will be locked in the chain. With the shortening of the lease period, every day will be returned to the user's wallet through the "smart deposit contract", without any centralized individual or organization participating in the whole process. After all, Forbes, with its cryptography and open-source software ethos, is inherently strong. What Forbes wants to change is the centralized life!
Forbes, however, is strong in its creative construction of the DPOC as a trunk chain consensus mechanism. DPOC is a kind of common understanding of POC. It USES hard disk mining machine to dig ore, and there is no big deployment threshold. However, due to the consensus of Forbes blockchain multi-chain design and DPOC, all mining machines that are not selected as relay chain nodes can pack the parallel chain and relay chain to interact with each other, and they can also get block rewards. Such a design essentially realizes satoshi nakamoto's vision of "digging for everyone." Not to mention Forbes's construction of pool mines to create the strongest mining machines with one machine and two machines.
Based on this, can you recall which blockchain product can be compared?
Forbes vision: to build the most universal distributed financial system in the world, driven by Forbes, the most widely used cross-link system in the world. I see two key words: cross-chain, distributed finance
Cross-chain is the most urgent problem to be solved in the current block chain ecology. Over the past decade, various blockchain systems have evolved in terms of security and performance, but not in terms of chain and chain ductility. As you can see, chains are isolated islands. Can those who play EOS and those who play wave field have the same language?
In human financial life, transactions, loans, personal credit, supply chain finance, stocks, commodities... They are directly interactive and connected. It can be said that human beings are dealing with all kinds of transactions all the time. Can the isolated island block chain really solve the problem?
Forbes is a global distributed financial system and a real financial ecosystem. Imagine what a revolution it would be if you could smoothly conduct blockchain financial activities with foreign partners. This pattern is too big, I don't know. But believe me, this one, if it works, can be described as transformative.

https://preview.redd.it/xqdr4xch1wz41.png?width=270&format=png&auto=webp&s=8c6f2fe27ed0c394e9c05e95876f3fbde8482eef
I honestly don't know how much GFS is worth. The number of GFS is the number of bitcoins, 21 million bitcoins. The current price of bitcoins is about 60,000 yuan each. The GFS main network has just launched, and in some markets, its price has risen fivefold in five days, well above the price of bitcoin before it halved.
As for the future, with the arrival of blockchain financial facilities this year, GFS must be just beginning. At the top? We witness together.
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The Bitcoin hashrate jumped nearly 5 exahash in the last 2 weeks alone. To put that gain in perspective, it took ~8.5 years for the entire network hashrate to reach 5 EH for the first time. Miners are entering at an astonishing rate. (credit https://bitcoinwisdom.com/bitcoin/difficulty)

The Bitcoin hashrate jumped nearly 5 exahash in the last 2 weeks alone. To put that gain in perspective, it took ~8.5 years for the entire network hashrate to reach 5 EH for the first time. Miners are entering at an astonishing rate. (credit https://bitcoinwisdom.com/bitcoin/difficulty) submitted by MotherSuperiour to Bitcoin [link] [comments]

Bitmain Approaching 51% Of Total Bitcoin Network Hashrate

Bitmain Approaching 51% Of Total Bitcoin Network Hashrate submitted by AmericanHead to Bitcoin [link] [comments]

Intel Wins Patent for Energy-Efficient Bitcoin Mining

Intel Wins Patent for Energy-Efficient Bitcoin Mining submitted by Wrinkled_Dog_Anus to Bitcoin [link] [comments]

Bitcoin network is strong AF right now. It is more decentralized and mining difficulty is over 3x higher than in January

Bitcoin network is strong AF right now. It is more decentralized and mining difficulty is over 3x higher than in January submitted by undertheradar48 to Bitcoin [link] [comments]

What is Cryptocurrency Mining?

There are various ways of gaining cryptocurrencies and one major way is through cryptocurrency mining. So, Cryptofactsbc will help you understand what is cryptocurrency Mining and how to mine these cryptos. There is nothing to worry about because we will give you everything you need to know about cryptocurrency mining and suggest some steps to follow if you want to mine cryptocurrencies. Let us dig into our topic for the day, What is cryptocurrency Mining?

Understanding Mining

When we take Gold Mining for example miners go into pits to dig for Gold, others use machines one the surface on the lands to detect possible places where Gold will be located.. They find and wash the gold and refine it and get it ready to be sold. That is how Gold mining is done in the real world but when we come to the crypto world it is slightly different. For our fiat currency, the government decides the quantity to be printed and when to print and circulate them because it is centralised.

Cryptocurrency Mining

Cryptocurrency Mining is the process where by verified transactions are added to a ledger which is known as Blockchain. Crypto coins are decentralized therefore no authority or government persons can order for the circulation of cryptos. Mining Cryptocoins is an arms race that rewards early adopters. Anyone can participate in mining provided they have the necessary materials to start.
I am pretty sure you have heard pf Bitcoins, the first decentralised cryptocurrency that was released in early 2009. Similar digital currencies have crept into the world-wide market since then, including a spin-off from Bitcoin called Bitcoin Cash. You can get in on the cryptocurrency rush if you take the time to learn the basics properly.

Methods of Cryptocurrency Mining

There are various ways of mining and we will look a few methods; Cloud Mining Basically these are some of the cryptocurrencies that can be mined, Bitcoin, Ethereum, Ripple, Thether, Bitcoin Cash and others. The main cryptocurrency we will talk about it’s mining is Bitcoin. Cloud Mining is process whereby miners pay money to rent some hardware from a host company. A company owns bitcoin hardware and then gives them out on rent so miners in-turn rent part of these bitcoin hardware and utilize them remotely.

CPU Mining

The use of Central Processing Unit of your computer, which is the brain of your computer was the very first method people adopted for mining bitcoins when bitcoins were first launched in the year 2009. Back then the mining difficulty was very low so just your CPU could help your gain some huge fractions of Bitcoins. But as stuff were advancing the mining difficulty increase and became higher so people started to look for something better and higher than a normal CPU.

GPU Mining

When technology was advancing, Graphics Processing Units were created. They are programmable electronic chip or circuit that helps the computer to solve complex problems. Most Especially for gamer to be to install games with high graphics requirements on the computer. GPU become very popular therefore people began to use them to mine for bitcoins and amazingly the mining power of 1 GPU equals about 30 CPUs. So, in order for you to gain higher fractions of bitcoins as mine you need to upgrade whiles the system also advances.

FPGA Mining

Another invention came into the system to out smart the GPU mining which was the FPGA. It is an integrated circuit that also helps the computer to carry out a set of calculations. It is almost 10- 100 times better and faster than GPU mining.

ASIC Mining

The full meaning of ASIC is Application Specific Integrated Circuit and it was a breed of miner that was introduced in the year 2019. The sole purpose of this ASIC was to mine bitcoins so you can imagine how fast it would be.
submitted by cryptofactsbc to u/cryptofactsbc [link] [comments]

My Asics 2682 MHash Bitcoin Mining Rig (Digital Currency) What Is An ASIC Miner and Why It Is Best For Bitcoin Mining? - D-Central asic miner - rip gpu & asic miners...bitharp scam - YouTube Bitcoin mining, US MADE ASIC MINER!! 100% ASIC Mining Of Bitcoin Could Increase Security

These figures are staggering, but Bitmain’s monopoly of the Bitcoin ASIC market may come to an end, following the release of Halong Mining’s DragonMint 16T ASIC. About the DragonMint 16T Designed with brand new technology and boasting 16 TH/s per miner, the 16T is the most powerful and efficient Bitcoin miner to date. Given the payback period, as well as the prospects of SHA-256 algorithm and the demand for Bitcoin, this ASIC can still be considered as a budget entry to mining cryptocurrency. Antminer R4 ASIC miner Antminer R4 is a product of the well-known manufacturer Bitmain, featuring a high hashrate of up to 8.7 TX/s and relatively low power consumption The leading Crypto Currency Solution for Bitcoin Farm Mining Management Serving the United States and Canada. What is an ASIC Bitcoin Miner? ASIC stands for the application-specific integrated circuit. These schemes do not perform general functions but act only in a strict framework to solve a specific problem. Therefore, to mine the Bitcoin through ASICs is chip then using another Bitcoin mining hardware. Introducing the VedenMiner. Veden technologies has assembled a world class group of experts to design and build a BETTER SHA256 Bitcoin Miner. We have created a miner that will last longer, operate quieter, more efficiently, and come with Western company standards of quality, customer service and support.

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My Asics 2682 MHash Bitcoin Mining Rig (Digital Currency)

https://www.hexmining.com Data Center Mining Bitcoin with ASIC Chips in BTC Miners #SolveForce. KnCMiner Jupiter - Bitcoin Miner 500GH/s+ 28nm ASIC chips - unboxing and setup 1080p Florian Uhlemann. ... How to BitCoin mine using fast ASIC mining hardware - Duration: 27:15. $7000 asic miner mined $1000 dollars in bitcoin in a month spondoolies spx36 profitability. asic miner value asic mining profit calculator - . usb bitcoin miner - the power of 1000's computers. So, what is an ASIC miner, and why is it the best in mining Bitcoin? The application-specific integrated circuit (ASIC) miner is an efficient hardware designed to mine cryptocurrency professionally. asic miner cryptocurrency mining miner bitcoin bitcoin cloud mining ... crypto mining rig bitcoin miner android btc miner ultimate btc miner online asic bitcoin free fast bitcoin mining