is it profitable with patience?
for example if you can have 25 miners
should you put them in a pool, or create your own pool or run each miner solo
how profitable is it versus being in a pool
This depends on your total expenditure to keep your mining node running. It is estimated to take a solo Miner an average of 10 months to a year to get a valid block, this average means it could be shorter for some and longer to never for others. If an average profit of 6.25 BTC per year would be enough to keep your machines and electricity up for the duration of that time, then being patient might be worth it. There is no way to estimate anything without knowing the miners hashrate. If you have 100th (a single S19j Pro) its going to take on average about 60 years to find a block. Assuming no difficulty increases, which we know is not a valid assumption. In the end it's all random, you could plug it in and configure it and have it find a block in 5 minutes, or it could take 100 years. As has been said, it's a lottery. Some people win, most don't. -Dave |
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This just popped up in my newsfeed: https://beincrypto.com/texas-lawmakers-pass-bill-limiting-bitcoin-mining/Don't know if it will pass and if it does if it will matter to you but it's something to think about. If you live there and were setting up the mining farm because of that it's one thing. If you live elsewhere and were setting it up there because TX is giving miners good deals, keep in mind that might not be the case soon. -Dave |
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...Miners can find Texas a better dwelling place...
Or not..... https://beincrypto.com/texas-lawmakers-pass-bill-limiting-bitcoin-mining/This is going to be interesting if it passes, a lot of places moved to TX since they are giving them a good deal. If this passes and that goes away I can see them moving to more friendly states again. They moved there, they can just as easily move out when someplace else gives them a deal. -Dave |
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If you actually care about this
Not really. I wrote this in a joking tone. Doesn't point 1 ring a bell? As I understand the unofficial rules do not apply in 100% of the cases, I also understand that it is more logical to act if the member does not have a high rank than if he does. We have all had replies deleted, but as you advance in rank it is more improbable. In addition, as in the Reputation section there are a lot of heated discussions maybe the moderators are more careful before acting. You just sound butt hurt...
Not really, see above. Your criteria for "getting away" with off-topic posts is nonsense, because actually the posts you reported were neither specifically on-topic nor off-topic, but instead related to the topic. The thread in reference was about Royse777 (yet again), and BitcoinGirl.Club merely referenced all related reputation-based threads in relation to Royse777. There's an argument that it adds context to the thread itself, despite the associated commentary. In the first comment, there is still some relation to the thread, but to discuss how to search on ninjastic.space you see it very on topic? The fact is that this is not the first time nor the second time I see it happen in this section. Reports for off topic that remain unhandled. That's why when I reported them I already guessed what was going to happen. Not a big deal. On that particular topic, no. In general yes. That is why you can start self moderated posts. At times I will start something to discuss 'A'. If it moves and grows to 'A 1' and 'A 2' and 'A 3' that is fine. But if you want to make sure that it never gets to 'B' or 'B 1' you really need to self mod. It's also too much of an opinion question. There is a topic going on about the situation with the General Bytes ATM hack [ https://bitcointalk.org/index.php?topic=5410704 if you care] I was going to do a much longer comment then the last one I made on the 27th about security in general and a better way of securing the machines and servers and OS and so on. However, I did not do it since it was more related in only general terms to the hack. COULD someone have reported it as OT and been correct? YES. Would someone have done it? Possibly. Would the mods have removed it? Who knows, because even though I am saying it did drive OT, you could also see a justification in that it was discussing the hack and ways to prevent another one in general. -Dave |
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I think it's less hate and more fear. They do not understand it, and they fear it since it's something that may change the way things are. And they fear the change too.
There is not much you can really do about it.
Using cars as as=n example:
If you look back today some people fear / hate electric cars. Decades ago, people feared / hated the fact the the government was taking away their leaded gas for their cars. Before that people feared / hated the modest safety requirements that were being introduced. Going all the way back people feared cars and fought against them since the horse was all the transportation they needed.
-Dave
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I am going to go a bit against it and say why bother.
There are people on the edge that you can 'push over' and have them get into BTC
There are people who may or may not be interested in BTC and need to get more knowledge / info that you can convince to invest in and use BTC.
But someone who is skeptical? May not be worth the time & effort.
Just my view.
-Dave
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I think a lot of the crypto casinos grew was because of the fact that you can get funds in and out of them easier then with traditional fiat ones.
You don't have to worry about your bank or whatever service you need to use to move the money.
There are a lot more ways to convert fiat to crypto and back then get money from your bank to an online casino.
Even in places where it is 100% state licensed and regulated some banks still do not allow those kinds of transactions. You can go to an ATM in a physical casino and take out to your daily limit, but move $50 to Caesars online through ACH and you get an account hold...
-Dave
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Could you please give me some advices. For your case, you should address the police, and perhaps even some exchanges if they happen to receive some of those funds. Lots of scammers are reckless and send their stolen coins to some exchange they've completed KYC. For the future, take precautions. Don't use an affected environment. I haven't yet understood how they stole them from you, but I presume it was some sort of clipboard malware? (i.e., keylogger) The OP had the recovery phrase saved as a text file. So anyone with access to the PC, be it a hacker, evil maid, friend or family member, *anyone* could have taken the funds. Since there are so many things we do not know such as the environment or the OS or if it was password protected or not, the location of the PC and so on, there is no way to even guess what happened. It's a good lesson for all of us to keep in mind while helping others. You can tell people to get a hardware wallet, you can explain to them how to do things, now here is another thing you can point to when telling them to keep their seed safe. -Dave |
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He was trusted because he was an early bitcoin talk member. Many people (including myself) have met him personally.
First time was coinfest 2017.
That is an interesting point to ponder. How much more distrustful of people here since we are all anonymous people behind a keyboard. Once you have a F2F meeting with someone, the entire dynamic changes. I have met a bunch of people here though the years to do trades and at events. If there was a question of trusting them or not, I will probably trust them more because I HAVE met them. Which when you think about it really is kind of silly. Handing out after an event grabbing a beer and some food really does not make a person more honest. Con-artists and scammers do that for a living. How many of us would not have gotten burned if he never showed his face and just sold things here. -Dave |
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Fees are still only 1 part of it. I made a post about this a couple of years ago: https://bitcointalk.org/index.php?topic=5366008Bad exchange rates can kill low fees. Lack of customer service and cumbersome integrations will make people not use the service. If you are converting to fiat and giving it to the merchants how long does it take? And so on. Just looking at one aspect such as fees is pointless. I can run a service with 0 fees but if my rate is 2% off of what showing at the major exchanges is it really 0 fee? -Dave |
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Electronics / ICs tend to perform worse the hotter they get so making them run hotter for the most part does not help.
Adding complexity through things like water cooling / oil immersion are all designed to get the heat away from the chips as quickly as possible.
Making them run hotter is not the goal. Running them cooler is the goal.
You can use the exhaust heat now for heating rooms and such, but to generate enough to do something else does not work with this kind of equipment.
Not to mention, it adds complexity and expense.
-Dave
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You should edit "Pay back swept people who refused Cygan's BTC" and change it to "Pay back swept people who refused Cygan's BTC and want to get some form of refund."
I got burned, I knew the risks, not of this specifically, but of buying anything with a private key that was not generated by me.
With that being said, option B works for me.
No point in C since as I said someplace else, there is no point in suing poor people. How much can you really going to get from a dug addicted gambler?
-Dave
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Say it with me one more time......
Not your keys, not your coins.
Your account exists at the whim of the exchange, not saying this is good, just that it is.
Coinbase has been shutting down accounts for their own reasons for years. Nothing different with this.
And when this fades from memory, we will see another bunch of posts about it when they do it again to a different bunch of accounts for a different reason.
-Dave
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I can do it if you or your PayPal account is US based, otherwise you are going to take a hit on the currency conversion fees. I can still do it then, but the cost of conversion is on you.
-Dave
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Of course it's luxury, but still, the titanium case will protect the electronics much better than ordinary plastic, although I can't say if it justifies such a high price. For someone who has a lot of money and may be a public figure who deals with cryptocurrencies, a device like this is certainly something that can set him apart from the rest.
However, titanium still is slightly electrically conductive unlike plastic. So the argument could be made that static electricity or other shock type events that would not happen with a plastic case have a greater chance of happening with titanium. Not something that you would really have to loose sleep over worrying about, but it still has the potential to happen. I still think more comes down to the board and general circuit construction then just physical aspects of the case. -Dave |
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They will both probably win.
There will be some things that the SEC will try to go after them for that are going to be too far reaching, and it will get shut down by a judge or a jury will find in their favor. There are some other things that Coinbase has probably crossed the line on. They have been warned and kept at it, just because I don't think but sticking ETH is a bad thing outside of the fact that it's ETH, that still does cross the fuzzy line. If they were smart they would have formed and offshore corporation and let them deal with it. all law making it perfectly clear that it is not an American based investment and not regulated by American laws.
Don't know if they would be able to get away with that long term, but short term I have seen many places do it.
-Dave
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What gets me is the 30 days to withdraw. Yes, if you monitor that email that you linked to the exchange it's fine.
But, I'm sure there are going to be a lot of people out there who have a minimal amount sitting there and will deal with it 'tomorrow' who will never see the shutdown email. And then in a couple of months when they go to finally move their .1 LTC or 100 Doge or whatever they have sitting there they are going to be pissed.
It's not like the entire exchange is going away. No reason just to stop allowing deposits and trades for US people.
-Dave
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Where did you get the unit from the S19XP only came out last summer IIRC and should be under warranty from Bitmain.
They may, probably will, make you jump through a ton of things to get it replaced but they usually do come around.
The other issue is that if you have a spare board, do you want to put in the time and effort to get this one fixed? I would, just to keep a spare but since as you found out, they do fail....
-Dave
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The OP is confusing nodes with miners. But in the end it still does not matter. Unless you want to go full KYC for everyone mining you will never have proof of who owns or runs what. Could be I am just seeing it more, could also be that there is something else going on, but there seem to be more and more people popping up who want to turn BTC into some really different coin [proof of IP and proof of domain were just discussed]. Either they don't fundamentally understand what BTC is / how it works and why it was setup that way or it's an organized campaign against BTC. That or I guess it's just a bunch people who want some of the free magical internet money. If we can solve the energy consumption problem and fairness issue between users of Bitcoin, all efforts will be worthwhile.
There is no energy consumption problem. See: https://bitcoincleanup.com/Why should it be fair, if I want to spend time and money to mine why should you get free / cheap coins? That was never the way BTC was supposed to be. https://bitcoin.org/bitcoin.pdf-Dave |
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It's also trivial to just buy lots.
Getting more expensive with the IP v4 exhaustion but yes. But yes. Also keep in mind at least the last time I checked the largest holder of IP space is still the US government (DoD). You also have mega corps like Apple and Ford with /8 subnets getting them 16,777,216 IPs in the IP4 space more IP6 then you can even think about. And in the end, basing it on something like this sill makes it PoS just what you are staking is different. -Dave |
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