0 - mocacinno

thanks

e - mocacinno

Thanks 

I know you've been around longer than i have... The explanation wasn't for you, it was for any newbie that stumbled upon this thread, browsed trough the replys and, based on these replies ,concluded it was wise to start GPU mining.
My main point is: you're both correct... Technically, it's possible to mine with a cpu, gpu, excel-formula, pen and paper,... HOWEVER, nc50lc is also correct in saying you can not mine with a GPU, eventough this is technically wrong, these statements prevents newbies from wasting time and resources on a wild goose chase.

My main concern is that this isn't a discussion between Lafu, nc50lc and myself... It's a public forum, and whatever is written by a longtime member is going to be read by newcomers searching for information. I don't think it's a bad idear to tell them it's impossible to mine with a GPU.

It's like saying: you cannot poke a rattlesnake with a stick... Sure, on a technical level it just requires a snake and a stick, and the physics of stickpoking are actually quite simple. HOWEVER, it's not a good idear: it's very nature-unfriendly, it's hazardous for both the snake and the poker, and you'll gain nothing. So, instead of going on a public forum stating you CAN poke a ratllesnake with a stick, i think it's perfectly acceptable to tell newcomers that snakepoking is something you cannot do.

But since all three of us are basically saying the exact same thing, and we're having a discussion about semantics, i'm going to step out of this discussion here.

I'm sorry, but this post gives newbies the illusion it's a good idear to start mining with a GPU. I know, on a technical level, it's possible to create sha256d hashes using a cpu, gpu or even pen and paper... However, if you can't resist making a  statement that nc50lc is wrong, i'd defenatly include a warning not to mine with a GPU since it'll literally earn satoshi's per year.

For example, if you mine with an Nvidia GTX 1070, you'll hash @ ~981,43 Mh/s while drawing ~150 Watt*
The current difficulty: 13691480038694
The average block reward + fees: 12.5 + 0.18 = 12.68
The formula to calculate the AVERAGE income per day:
((((Hashrate (hashes/sec) * average block reward * 600 * 65535) / 2^48) / Difficulty) * 6 * 24)
((((981430000 * 12.68* 600 *65535)/2^48)/13691480038694) * 6 * 24) = 1,8 satoshi's/day

=> 0.000007 BTC /year for mining 24/7, 365 days... That's about 5 cents a year, after burning 1,3 Megawatt of power...
If you're pool mining, the odds of not finding a single share at their mininum diff are pretty big, and even if you do... The odds of ever reaching their minimum payout are incredibly small...

So, i agree with nc50lc that saying you cannot mine using a GPU is acceptable in order to protect newbies and uninformed members. IF you say that mining with a GPU is possible, i must insist it's allmost mandatory to add a big, fat warning so that newbies don't try this at home...

source:
*https://bitcointalk.org/index.php?topic=2054800.0

That part is actually pretty trivial. If you hand over your seed or private key(s) (encrypted or plaintext) to your brothers right now, nothing is stopping you from creating a brand new wallet with a new seed and swipe your old wallet to your new wallet once you have kids. The proceed to give the new key(s) or seed(s) only to your children.

That way your brothers could spend your funds if something happened to you right now, and later on (when you have kids) you can rest assured they're not going to be able to steal your children's inheritance once you pass away.

Indeed, every now and then, and especially if the gui of wallet.trezor.io or ledger live have minor changes, i ask her to go trough all the steps necessary to spend funds from my HW wallets.
If i drop dead today, i rest assured only the funds in my desktop wallets will be lost (but that's the equivalent of a couple hundred bucks tops).

But i do get your point, and i think it's valid: if you don't have children and only nieces and nephews, i wouldn't just hand them the tools to spend my funds while i was still alive, and some kind of strategy would be needed in order to make sure they have a decent chance to inherit my funds after i'd be gone... So i do get your point as to why you need to write these steps down.

My strategy is simpler: i've tought my daughter how to use my HW wallets, she knows where they are, she knows their pincodes,... WHEN i die, she can do whatever she wants with my funds.
If she decides to rob me before i die: so be it... She's my child afterall, if she robs me before i pass away, i'd consider it an advance to her inheritance.

I think it would be worse if my child would not inherit my coins than if she'd steal from me, so i want the odds of her not being able to use my crypto as low as possible. Writing extensive guides on shamir's shared secret scheme, GPG decryption, BIP38,... would all decrease the odds of her being able to profit from my work, so i decided to keep it as simple as humanly possible...

You didn't judge to quickly, after reviewing the proof OP has posted is rather clear to me that the odds areyoudonuts1 is a scammer are pretty high.
However, scamming is NOT a bannable offence on this forum...

To tell you the truth, I have no idear if sending merit to your alt is bannable, but i'm pretty sure it's not very high on Theymos's priority list. IF you'd be able to use this merit abuse to prove areyoudonuts1 is an alt of a banned user, things do change (since ban evasion is a bannable offence).

For now, i think red tagging or creating a flag against areyoudonuts1 are the only viable options to warn other people for areyoudonuts1.

I've given him red trust...

Lucky for you, it was only 0.003 BTC, but take this as a lesson: don't trust anybody blindly on this forum... People on here will scam for less than $1 if you give them the chance.

There are some reputable escrows on bitcointalk, and eventough i would never advise anybody to follow/trust them blindly, you should use their services whenever you're trading with somebody new, or with somebody without trade experience, or with somebody with a shady rep. Well, actually, it doesn't hurt if you use them for about any deal you make on the forum...

@riverdip, i'm from western europe
At the moment i'm still trying to force the online seller to take the oculus rift back, the EU regulations stipulate i have the right to test products i received from an online purchase and send them back without extra costs... However, this particular seller is hiding behind his TOS to deny this right. I'm having lenghty discussions with him explaining that the law surpasses his TOS, and I hope he'll come to realise he has no choice but to pay me back.

This post was made as a "plan B", so i'd have an option if the seller keeps refusing to honour my right and i'm actually stuck with the oculus rift in the end.

If, in a couple of weeks, i was unable to return the product, i'll defenatly contact you for a quote!

Thanks for replying to my post 

full disclosure: This image is the combination of my own "artwork", open source examples/templates and open source image manipulation tools... It is more or less reproducible if you know how to do it



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That's exactly what i was thinking... The poor schmuck just invested +$1000 in a fork and everybody is making fun at him... Why doesn't anybody take the time to explain to him that he needs to exchange those BSV back into fiat or BTC asap and teach him where he went wrong?
I know i should do it myself instead of posting on bitcointalk, but to tell you the truth, i do have a twitter account, but i very seldomly use it, so i guess nobody would believe a twitter-newbie with a handfull of followers anyways...

@ETFbitcoin: I've run other electrum servers in the past and electrs feeled less performant... However, I did not run any benchmarks....

As for the fear of getting robbed: there was a discussion in this thread about a node operator logging your real ip and your addresses. If the operator finds an address in his logs that's funded with hundreds of btc, he might try to connect the ip to a physical address (for example by a social engineering attack on the ISP), or he might try to connect to the user's modem to see if it's running vulnerable firmware so the bad node operator can penetrate the rich user's home network... Tor mitigates this attack vector since the operator will not have the user's real ip in his logs

Yes, I have installed electrs in the past... It's slower than other implementations, but it was really easy to setup and run on my existing node without having to reindex... Iirc, I used nginx as a reverse proxy to deny incoming connections from non whitelisted ip's and handle ssl encryption.

As for the tor option: I had no idea... I either connect to my own node or to a public electrum server over the clearnet... But than again, I don't hold enough crypto to fear getting robbed...

long story short, I bought an oculus rift s for my daughter, but the dang thing doesn't get recognized by my gaming laptop (eventough it supasses all minimum specs given by the vendor).
The webshop that sold me this VR headset is giving me a really hard time when i tried to get a refund because i opened the box (how else can i verify wether or not the dang thing actually works).

So as a backup plan (in case they actually will not refund my purchase), i was thinking about building my own "gaming" PC... I need a decent mobo and a cpu that matches the socket. Some compatible RAM and a GPU (i have a decent thermaltake case, HDD's and a PSU laying around).
Instead of spending ~€700 to get my hands on these new items, i wondered if there are miners in the forum that have turned off their GPU rigs because they were no longer profitable, and have the hardware i need laying around gathering dust and are interested in selling their "old" gear for a couple hundred bucks.
If so, please send me a PM and in case i don't get a refund from the shop and i'm stuck with the oculus rift s, i'll contact you to work out a deal.

Minimum specs:
Processor   Intel i5-4590 / AMD Ryzen 5 1500X or greater
Graphics Card   NVIDIA GTX 1060 / AMD Radeon RX 480 or greater
Alternative Graphics Card   NVIDIA GTX 970 / AMD Radeon R9 290 or greater
Memory   8GB+ RAM (eventough this one doesn't really matter, i can always buy some more RAM new, this is not that expensive)
USB Ports   1x USB 3.0 ports
Video Output   Compatible DisplayPort video output

Only people from the EU please... I'm not interested in paying import duties...
BTW: i'd like to use a forum escrow if the deal goes trough, and i'll pay for escrow fees and postage.

To answer this question: yes, owners can log ip's and addresses on several levels... It's so easy anybody could do this.
Either by running a reverse proxy (like nginx) in front of the electrum server and logging everything, or by modifying the electrum server's sourcecode to add extra logging (most, if not all, implementations are open source), or just from the OS level by capturing the packages over electrum's port (wireshark can capture the packages and automatically decrypt them using the keyfile used to setup ssl).

If you're really paranoid, i'd suggest using electrs (https://github.com/romanz/electrs/), that way you don't have to add txindex=1 to your node's config and use an alias or shortcut to start electrum using only your own node.

Using tor is a good alternative to, but you have to make sure you always start the tor proxy, and never open electrum without using said proxy...

When reading you OP, it's not completely clear to me what your question is... Your title however is clear, so answering the question asked in the title: you can trust NO rank.

• Accounts get hacked
• Accounts get sold
• Users can go for a long con (for example, the master-P fiasco)

But generally speaking, trust levels increase IF:

• the account's password hasn't been changed recently
• the account has stayed active for the last couple of months/years without changes in posting style/language usage
• there are no CREDIBLE negative tags for scamming or cheating on the account
• there are no CREDIBLE negative flags for scamming or cheating on the account
• the rank is relatively high
• the account has a relatively high number of merits
• the account is in DT
• the account has credible positive feedback
• the account has a staked address/PGP pubkey

The trust level of these accounts is higher than a newbie account because the account owner has invested a lot of time to get his account to a certain level, so it's unlikely he'll throw away a high trusted, lots of merit, old, active, high ranking, DT account away for a couple hundred bucks...

Well... If you re-read my post, you'll see that mining monero with an i5 with 100% load, 24/7 for a full year will "earn" you about 50 cents ($0.5), and only IF the diff doesn't rise, the block reward stays the same and the price doesn't drop... This calculation does NOT take into account the amount of money your electricity company will bill you (depending on your country, this can be quite a lot... For me, the power bill would probably be ~$200/year, so my "income" would be NEGATIVE $200/year).

So, mining monero with an i5 will result in negative profit... Don't mine with an i3...

To tell you the truth... I have no idear how they survive...
Probably either because they're not actually mining but doing something else in the background, or maybe because they run a fake miner to get their users to watch ads or get their info, or maybe they just don't care and make a couple of cents per user per year while making their users burn a lot of energy and potentially damaging their user's phone in the process.

Well... First off, welcome to the community.
That being said, i'm not completely sure if you completely tought this one trough...

One of the few crypto's that's both relatively succesfull, AND cpu-minable is monero. But if you look up these two resources:
https://monerobenchmarks.info/
https://www.cryptocompare.com/mining/calculator/xmr

You'll see an i5 (wich is a pretty decent cpu) mines at ~5H/s
If you have a customer that mines 24/7, 100% load, you'll make about $0.51 A YEAR at current diff, block reward and price....

Mining other popular coins like bitcoin or litecoin with a cpu or gpu is just plain nonsense. Monero is one of the best ones, but like i've shown you, you'll make almost nothing.
I guess subscribing to an affiliate advertising company and showing ads in your software will increase your earnings imensely over using your customers devices to mine. And by showing ads, you don't risk being sued if one of your customer's phones overheats and breaks due to mining.