I ordered one from the September batch earlier this month. I'm glad I did because they have increased the price of the miners. I went to buy a PSU and thought, nah ..., I'll do it tomorrow. They were sold out. I'm looking forward to getting one. Where it seems the S9s are not going to get more efficient without going to an oil cooled system and the difficulty is raising quickly, this provides another option. I can't wait to get the L3+ plugged in and running. Not sure if I'll get another S9 or L3+ for my next purchase. I'm also looking at the Baikal. Any L3+ users in this thread? EDIT: I was reading the wrong page when posted. Pray that nothing happens to your miners that requires Bitmain to help you. Just a very quick follow up on my ongoing(yes STILL ongoing nightmare) with Bitmain. After all of this time I STILL have an L3 down due to a failed controller board. It took them 1.5 months to process my returned controller, and send it back to me. And it will not BOOT. Oh boy. Is anybody else having issues with the L3+? |
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I found the hex thanks to this guy: I have gone into my Trezor and tried to sign the receiving transaction, but do not understand it. This is a really cool tool and I think it's going to take a little bit of time to figure out exactly how to use it. I signed the the tx with my signature it spit out and tx says NULL. I assume that means I did something wrong. Good opportunity to learn more about bitcoin programming. This can be an extremely useful tool as sometimes fees go up expodentially very fast. |
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If you're selling it because of the noise, you should've looked at co-locating. I sent mine off and it's out of my house and I'm paying less in electricity and pay in BTC. 'Sidehack', on this site, hosts ... |
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Core devs ... don't have much BTC ... I agree nor do they use it. They're all theory. |
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It is simple, the reason for an increase in the price of Bitcoin is due to adoption that brings in demands for the coin.
I agree. I believe we are moving from innovators into the early adopters phase. It is also more difficult to mine and with a 10% increase in difficulty coming online soon, miners are reluctant to sell because it's only going to get more and more difficult, especially once AMD enters the ASIC space. |
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Non-mining full nodes have quite a bit of power if they are operated by exchanges or payment processors. If you can't spend your coins in those contentious blocks they are pretty much useless.
That's an area where I think there should be regulation: 1. Define $BTC for tax reasons 2. Ensure they don't "take the money and run". I keep very little in custodial accounts due to the risks. It is usually 3 confirmations and out. |
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If majority of the Full Node network denies a certain block, that
block is considered invalid and other miners will ignore that invalid
work.
Yeah. It sucks when that happens or sometimes two blocks are found within miliseconds of each other and one is orphaned. Both stink because you lose your money and, on occasion, it's been 72 hours without a computer pointing to the same pool as you finding and sharing a block reward, which means you haven't covered electricity costs. |
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... accepts broadcast transactions that come along but also constructs a new block from its mem pool on top of it according to his own rules, and broadcasts that new block.
This is actually the job of mining POOLS. Individual "miners" are most probably hardware owners, that sell their hash rate to mem pools, to mine on the blocks that the mining POOL constructed according to its very own rules. It is really difficult to find a block. It is really, really difficult to find a block. It is the individual miner that finds the block. My miner could find a block. In fact if you check out https://kano.is/, the pool broadcasts who finds the blocks. Bolck by bapir with 78TH/s! Welcome to the Acclaim Board with your 1st Kano block!  That's number 3 for BLOCK FRIDAY! S9v2  Note the S9v2. That means it is a newer S9. A person who bought one of the miners found a block and shared it. S/he could have kept the entire block reward. People solo mine with older equipment, like S3s and such. Whenever it is "unknown" it's probably a solo miner. Good on them! Most of the time is a larger farm though that has the ability to game. Meanwhile, the more hashpower = more security = larger market investment =  Bitcoin. It is genius. Nobody can force their will on others. It takes multiple agents. These nodes are the only "source of block chain". They send out the originals. Yup. That's why I run one, but I don't solo mine because the odds are so small of finding one block. It would maybe take 6 years. It is the individual miner, computer, that finds the blocks. Because the odds are so small, people pool their hashpower and work together. It is genius to have division. |
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What is the Reason for increase of the Bitcoin?
What do you mean? If you ask how BTC is generated, it's done through a process called "mining". If you ask why people use it, it's probably because it has something to do with the next gen of value transfer: rocks--> pretty rocks --> paper --> credit cards --> Bitcoin (blockchain technology) If you ask why the price is higher ... likely tied to electricity costs of securing the network through mining, but it'd be a better question for Tone Veyes on YouTube. |
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Just sharing, I know its been thrown around before but seems to beginning to get praise, Extension Blocks!
New name, same thing. |
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Spam is nothing else but a covert way of the miners to lower the effective block size.
You mean, miners send many transactions and it clogs up the network? Is this what people mean by spam?
It costs them, on average, nothing, if they spam according to their own hash rate (they pay the fees to themselves).
Not really. I have sent one transaction with a higher fee that was picked up by a miner on the pool I point towards. I don't think I really got much of it back on a PPLNS payout and 0.04% share.
If miners spam, it means that they are of the opinion that the blocks are already too big for their optimum profit, and need to lower the available user block room. This could be true for some. However, I received daily payouts and would put them into four different wallets at payout. Two different ones for electricity (home, hosted - not cloud), one as a "hot" wallet and another to cold storage.
Note that miners are the only entities that can spam without a cost. If you use the same origin and destination address, anybody can send 20 transaction without a fee and one with a large fee. If they are to and from the same addresses it picks up all the transactions. However, most aren't using bitcoin as frequently as miners to and from the same addresses as frequently as miners.
... the right amount of spam to squeeze the maximum of fees out of the users. How do you make a 'junk' or useless transaction with Bitcoin? I don't understand this concept of spam. Perhaps there is either a change in the quantity demanded - or we are entering a totally new demand curve. I think as we move from innovators to early adopters using BTC, it's going to move out the demand curve and not just change the quantity demanded. |
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Dash on the blink again for me
I keep any DASH on the full node and usually don't keep it long. JAXX works better on Android than Apple. I was surprised at all of the additional features on Android.
stay away from them, they charge you 0.021 of BTC fee
You can adjust them within the application, but only to "low","medium" and "high". I'm pretty sure their business model is recommended fee, plus a small percentage of satoshi for themselves. Also, I'm sure you mean 0.0021 BTC. That's still too much for regular use. If you shapeshift within the app to LTC and then transfer, to another Shapeshift, you can get low fees by using the Litecoin network. High fees are why we need larger blocks because they can fit more transactions per block. |
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... miners will have a choice either exit the market or compromise and it doesn't take a genius to realize compromise is their only choice.
SegWit only has one year and there are many other proposals, including BIP100, BIP101 and others. The default is BIP9 and it will stay that way until most miners are satisfied with a solution. Nobody owns nor controls Bitcoin. That is the feature of it. Only BTC and LTC did not involve a pre-mine, that I know, and some central authority who owns tons of tokens. |
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As others have explained, there is no security provided to the network by non-mining ‘full nodes’.
Mining and "full nodes" are two different things. Mining = https://shop.bitmain.com/ or https://canaan.io/Full node = https://bitcoin.org/en/download or https://www.bitcoinunlimited.info/downloadMany who mine run full nodes. One solves the puzzle and the other holds a copy of the blockchain. Both are security, but in different ways. EDIT: If people want to be paid for running a full node, there is a coin for that: DASH.
Bunch of worthless shitcoin miners or unemployed masses who hold thousands of worthless mining equipment in their garage. And one day, one of y'all BU supporters gonna say fuck it i'm going with SegWit.
Maybe. Or going from shitcoin to shitcoin and finding the best exchange into BTC, LTC or USD. It'd take monitoring of the markets daily. |
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... when WU realizes that he is losing his job and then out of nowhere... The solution will arrive.  We need to see the bottom first before we can jump to the moon again.Miners have sunk costs. They are invested and can't simply pull out their $3000, $6000 or $6000000 invested into sunk costs. Mining is what makes BTC different than past efforts like PayPal and RipplePay. I think it's very smart because those who have the most invested - and at stake - are those who guide the long-term solutions. If you hold $3000 in BTC, it'd be fairly easy to dump at $2200 and get some money back. Mining operations would simply either turn off their miners if the price gets too low, which would reduce security, or start mining another SHA256 coin with lower difficulty and greater returns. Mining is how you vote. I am mining BU because the slow transaction times and high fees are reducing the quantity demanded, which keeps price down. Bitcoin Unlimited is the *only* choice for that. SegWit is to stop double spends and fix hash issues. They've since said it can be 1.2MB, 2MB, 3MB ... 4MB. At some point we will get to layer two, but we need to get layer one right and it's going to take time. That's okay. |
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It's called compromise and the lesser of two evils.
Bitcoin is not evil.
So taking this to the conclusion...that there will NEVER be a solution between the various flavors of devs on
block size and other issues in the future....
It turns out nobody owns bitcoin and it's difficult. This is a feature of Bitcoin. It's not a bug. |
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Be careful with people in this thread. It looks very likely that there are scammers posting here. Baikal only just released first batch of cubes and only sold one per customer so people who say they have multiple cubes for sale are probably lying.
i think the same things... i have chatted with the official baikalminer customer care, and he told me, who now are out of stock , and they sell just 1 cube for user... They also have another channel that they provide, without limit, to the suppliers in Shenzhen. These suppliers work to lock-in pre-orders. It's a risky business because the suppliers can change their price without notice - unless you give them $180,000 at once. Look at the S9s and L3s by BITMAIN. They go from $1000 - $5000. There are a lot of factors, not the least of which is price of the coin/electricity/difficulty. If you buy from a 3rd party site, check the registration on whois and see that they are a registered business. I "bought" my first S9 from a company that was fake. I reported it to BITMAIN and the BBB. The site is now down, but I'm out the $800. They sell one per retail customer and more to suppliers in China who then resell here. |
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At a certain point, Core proposed some quite radical changes to bitcoin. It goes under the name of Segwit. It are a lot of technical improvements, a quite radical change of how the block chain is built, and in fact, also a preparation of a totally new way of transacting: the "Lightning Network". The Lightning Network is an idea that could in principle allow one to use bitcoin transactions without writing them on the chain - only when you are scammed or your partners disappear, you could always "come back" to settle on the chain. As such, Core considered that increasing the block chain was not going to motivate people on the LN, so they thought that it was a good idea to keep bitcoin's block chain small, and somehow force people off chain. And they went on telling everywhere how supposedly dangerous it was to go beyond 1 MB blocks.
Nice summary. |
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I am so confused as to why the scaling problem isn't sorted.
To use an analogy, some people want to stay at 1MB blocks due to bandwidth and hard-drive. If it takes a long time to download the blockchain, then there will be fewer nodes (the story goes). However, I remember when I paid $350 for a 1.2MP camera. It even came with a 512MB memory stick. I, also, had a cell phone and would dial in to Napster at night (theoretically of course) so I could get 8 songs by morning. Now ... I can stream HD, my camera has a higher resolution camera and I carry around 64GB attached to my key-chain. Locking in at 1MB does not make sense, just as keeping cameras at 1.2MP did not make sense. It's the process of mining that keeps the network safe. It consumes energy and the miners are rewarded for protecting the network with 12.5BTC per 10 minutes. This is divided and among all those who provided hash power towards solving the equation, unless solo mining. |
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No one is going to abandon bitcoin except you.
6. LOW transaction fees (merchant acceptance) Not everyone is a Bitcoin maximalist.You know what is the only thing you can buy with LTC? Bitcoin!!!!! I accept Litecoin. You can buy pepper seeds from me with Litecoin. All I have left is Yum-Yum and Thai Pepper. I am sold out of the rest. 5 Yum-Yum for .109 LTC or 20 Thai for .109 LTC. Very high quality genetics and origin sourced. EDIT: You can also buy USD. I use shapeshift.io/ and enter the BTC address for purchases as a way to avoid speed up my transactions. If you transfer more than 100$ don't be stingy over a few cents. What if you are sending 10.15 Venezuelan Bolívar for some rice? https://www.forbes.com/sites/realspin/2017/02/03/why-venezuelas-currency-crisis-is-a-case-study-for-bitcoin/#3d03eb4619b2 I think it would be a really great idea if wallets would integrate a feature that shows how long the transaction will take approx with different dynamic fee settings.
It's difficult to tell because sometimes it takes an hour, usually once per day, for a new block to propagate. I use btc.com to see recommended fees. I like the idea of being able to tell what fee you will attach is good because I rarely pay more than 0.0002225; it just takes a while, though not always. When it comes to block size there is this:  |
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