Дальше все будут переходить на асики и затраты на электричество будут падать при росте мощности сети.

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Thanks.

Thanks!

BitMinter.

It is big enough so you get paid regularly but not the largest so you don’t compromise the security by potentially allowing a pool to get to 51% of the network in the future. The Java client is really neat but you are not required to use it if you don’t like. PPLNS so you have the best pay. Small fee. Joined namecoin mining so you get namecoins for free.

Thank you so so much!!!

You saved me from BitMinter slavery

Is it possible to update bfgminer to 3.1.2?

3.1.1 does not see my USB Erupter and 3.1.2 fails to build on my machine

I believe you can mine both with USB Erupter and GPUs without any problems, but USB Erupter cannot be used to mine Litecoin or other scrypt coin.

On Bitminter as on many other pools it is possible to merge mine Namecoins together with BTC.

Besides, you can mine any SHA-256 coin with current ASICs.

The average online US user?

For example, on btcchina.com it only takes to send money by AliPay or Chinese online banking to a designated address, then after the funds have arrived, make a buy order and then a withdraw order, done. I would not call that “many steps”. The only thing to care about is somewhat long wait to process funding.

I am sorry if I repeat something already been said on the thread, or if I say something stupid because I am new to Bitcoin business, but I see no danger of ASICs killing Bitcoin, and I’d be happy if you please show me where exactly I am mistaken.

If I understand correctly, there are hobbyist miners and professional miners. Hobbyist miners (like myself) engage in mining out of sheer curiosity and their ultimate desire is to get some extra bitcoins to spend on a pizza. A hobbyist miner does not invest considerable money into mining nor awaits a quick ROI and considerable profit. Professional miners are those organising mining rigs and investing serious money into the process of mining. Professional miners crave for serious mining power in order to get profit.

Professional miners did not appear with ASICs. I guess they started to emerge when GPU mining replaced CPU mining. I doubt that someone would buy a couple of computers solely for mining purposes, but GPUs are much cheaper and you can stuff a whole lot of them together with the cooling making a powerful mining rig. Most of the mining power of the network since the appearance of rigs and later FPGAs began to concentrate in the hands of professionals. Did it kill bitcoin? Obviously, no. Do you really think that 1000 hobbyist miners who mine on their only GPU brought any considerable power into the network? Just 10 professional miners with a rig of 100 GPUs each can overpower those. Make 80% of the hobbyists go but the network will stay. And the number of hobbyists won’t dwindle because ASICs will only become cheaper. On the contrary — one cannot stick 10 GPUs into a cheap netbook, but can easily do the same with a pile of USB Erupters, and something like Erupter Blade does not require a computer at all!

Now there come ASICs. Does it considerably change anything about the division between hobbyist miners and professional miners? No. The former instead of wasting electricity and killing their GPU can buy themselves some USB Erupters, or several months later even a Jalapeño or analog. Environment is safer, everyone is happier. The latter exchange their GPU rigs for ASIC rigs. The early adopters have more competing power, just as you do in business. Weaker ones get out. Stronger ones find their niche with an amount of Gh/s they can afford to invest in. Nothing really changes much. Again, the environment is safer.

But mining is only one faucet of the Bitcoin network and it’s not the most import one! If everything revolved around mining, Bitcoin would never get any value. The real value goes from adopting Bitcoin in businesses. And I believe, with ASICs the network becomes more protected against attackers because it is really hard to accumulate 51% of current TH/s and PH/s that are coming. With more protection and possibly new improvements to the protocol we have more adopters, and the value of Bitcoin rises!

The only real problem are governvents prohibiting Bitcoin collectively. And no government will do that through ASICs or other hackery. It is much simpler. Declare Bitcoin illegal. Close all exchanges into local fiat — and you will constrict Bitcoin to underground barter economy only. Can this happen? Theoretically yes, but very unlikely. Even if the US or the EU expels Bitcoin into underground, we have a growing adoption in China and Latin America. And for some states Bitcoin is not a danger to their economy, but just the opposite — a way to get less dependent on the first world banking system.

The only real danger to Bitcoin is if most of the adopters will be speculators and high volatility drives real producers out of Bitcoin. But the ASIC hype actually targeted speculators and those looking for get rich quickly schemes. Now when a considerable part of them leaves due to the stall with new ASICs and drop of Bitcoin value this will only improve the new more secure Bitcoin network.

Bitcoin.

Most adopted, most protected against double spending with new ASIC-enforced mining infrastructure.

Maybe PPCoin will rise too, because it is now 3rd widely recognised and PoS makes it resistant to 51% attack.

公布了个屁。

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Thank you.

randomwanderer

Thanks in advance.

Just tired of all that panic threads.

Price is going up, mining is going well, why isn’t everyone happy and reassured about the glorious future of Bitcoin?

Thanks!

If I understood correctly, in order to generate PoS my wallet needs to be minting which cannot be easily done with encrypted wallets.

I am using PPcoin-Qt and I have encrypted my wallet, and afterwards it is saying that minting have been stopped due to wallet encryption.

What exact steps should I undertake in order to allow minting again?

1) 49.0 Mhash/s at current difficulty will produce about ฿0.001 per 24 hours of mining, or $2.7 a month. Given that you most probably mine with a GPU, you will waste more energy and GPU lifetime with that.

2) Bitcoin wiki (https://bitcoin.it/‎) has articles on anything.

Mhash/s is megahash per second, used to measure mining speed. During mining, the miner calculates the SHA-256 hash of a block, then adds a nonce to the block data, with is a number starting from 1, then checks if the hash is less than a certain number set by current network difficulty, increases the nonce than starts again until the hash meeting the requirements has been received (SHA-256 hashing is made in such a way that if you make a slightest addition to the data, you get a completely different hash, so you cannot predict it until you calculate it) and then the block is created and propagated across the network. The more hashes are generated per second, the more likely it is to solve the block, but everything is probabilistic.

BTC means BiTCoin, the name of the currency

3) Very probably so.

4) Official client although it verifies the complete block chain every time you start it and thus loads for several minutes on a cheap notebook. For mining, maybe cgminer.

Уже приносит не намного больше А к концу года вообще ничего не будет.

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