Hi guys, i just finished writing a walktrough on how to download, initialse and fund eclair 0.3.5 on android, then open a channel and pay a very small fee on my mainnet lightning demo site... I wondered if anybody had some feedback for improvements? AFAIK, it's one of the first walktroughs for lightning payments on the mainnet, so i'm not sure if it's complete and newbie-friendly enough... If nobody has any feedback, i'll probably start linking to the walktrough this evening. http://www.mocacinno.com/lightning/walktrough_eclair_android.phpThe walktrough is 100% SFW, the site itself has 1 active publisher that published a couple soft NSFW images (so if you click on the NSFW subcategory, there'll be some semi-nude thumbnails... But if you aren't actively searching for those the site should be ok to use in a work environment)... |
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--snip-- Mocacinno, thank you for such detailed replay. You're right when you say that people rarely notice good comments, it`s indeed the case here. People continue commenting, it would not be a problem if these comments were good and constructive, unfortunately they`re not, most of them are just repeating one sentence without logic and sense. Many do not want to make an effort to understand the topic before you write something, but just banging stupidity for comments for the campaign. Even I know that smartphones can`t be used for mining. Different applications that exist aren`t trustworthy, most of them are just scams and people can just be scammed when they download some virus with that applications that will clean their wallets. Your comment passed unnoticed again. I quoted you and I hope someone will notice your comment now and at least post something constructive, not like this "Kive2k": I already see before my eyes the smartphone farm for mining, and the manufacturers are in pursuit of productivity. In general, the idea is interesting, very much even.
Mocacinno even you explained everything he still continue with spamming. Should we report Kive2K? I'm afraid most mods won't make the effort of correcting these users... What i usually do is just put these users on ignore, and i hope many other senior members do the same. This way, these spammers will have less chance of receiving merits, so they'll probably never reach a rank higher than Jr member (eventough this particular one was lucky enough to be a member when the merit system was introduced... However, since then he doesn't seem to have gained a single one). I just hope that when they are locked in a lower rank, they'll give up sooner or later.... Anyways, i'm happy to see at least one person took the time to read my post  |
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Since my last post clearly outlining why bitcoin should not be mined with a smartphone, not now, not in the future, people still keep posting in this thread. It's still being treated like it's an opinion piece while in reality this thread should rely on simple math. Since my previous post didn't do the trick, i'll simply do the maths proving once and for all that mining with a cellphone should not be done... Let's take a "normal" cellphone CPU: a Cortex-A9. https://en.bitcoin.it/wiki/Non-specialized_hardware_comparison#Other teaches us this CPU is hashing at a whopping speed of 1,3 Mh/s. If you underclock this CPU and it runs at 0.57 Mh/s, it draws 0.5 Watt. Let's just assume that making this cpu hash @ 1.3 Mh/s also draws 0.5 Watt (eventough it won't). Let's take the current difficulty of 5949437371609 Let's take the current block reward of 12.5 BTC + 0.12 BTC in fees = 12.62 BTCNow... Let's plug these numbers into the formula to calculate how much BTC you'll mine on average with such a CPU: (((1300000 * 12.62 * 600 * 65535) / 2^48) / 5949437371609) * 6 * 24) = 0.000000000055 BTC/day = 2 satoshi per year!An "average" pool seems to have a payout threshold of ~0.005 BTC ( https://www.f2pool.com/help/?). So, in reality, it'll take 250000 years to reach the minimum payout treshold. If you decide to solo mine, it'll take (on average) 631.000.000 years to solve a block (yes, that's 631 million years). During these 631 million years, you'll have burned 2,7 TerraWattHour, i doubt the block reward will cover the power costs. Do realise that every 210000 blocks, the block rewards will halve... Cutting in your profits. Now for the people continueing to claim that in the future you'll be able to mine with your cellphone: just look at the above formula... If, some day, cellphones will have chips that are as performant as current ASIC's, the ASIC company's WILL have access to the same technology. An ASIC is built for the sole purpose of creating sha256d hashes, it will ALWAYS be more performant than a CPU... So, in the future, the only 2 things that can happen are: - bitcoin might be worthless, so ASIC companies are not interested in creating new ASIC's, the future CPU's become more performant than the old ASIC's and you'll be able to mine worthless coins - if bitcoin prices continue to be this high, ASIC companies will use the new technology to create new ASIC's. In this case, the network's hashrate will rise exponentially, the diff will rise, so the number 5949437371609 in the above formula rises exponentially, making it impossible to mine with new cellphones due to the high diff |
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I think there is some overlapping between the rules. It says that having multiple accounts is allowed but accounts sales are discouraged. But what happens in case of permanent ban. I have read replies that a member is not allowed to open a new account in that case. But what happens if a member got his account banned and already had other accounts created before the ban ?
If you get a ban, it's you (as a person) who is banned... This includes any account you own. The only thing you're allowed to do after being banned is open one (1) thread discussing your ban in the meta subforum. If you use any alt account to continue posting while being banned, you're ban evading (which is, in itself, also a bannable offence). Back on topic, i see nothing wrong with having multiple accounts IF they're not used to troll, shill, self-bump, self-vouch,... I think there are several use-cases in which it would be ok to have multiple accounts: - one anonymous account, one doxxable account - one account with an easy password for when you're on the road, one main account with a hard password for when you're behind your desk - an account for branding purposes (if you own a business and "claim" the account that corresponds with your business name) - ... |
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It won't happen.
Smartphone for bitcoin mining? you are just destroying your phone.
Smartphone as digital wallet, you can simply download an app / wallet and that's how you make it as your wallet.
Yeah smartphones are not capable of mining, mining nowadays is not possible or is useless with the simple CPU, Gpu are used for mining and even the old models of GPU are not efficient for mining. Smartphones are only capable of communication no matter how strong their processor are. You will not be able to fulfil the power need for mining, the batteries of smartphones can not run more than 4 hours of continuous use within a few months. We're in the bitcoin mining subforum.... You can not make any profit mining with a GPU. IF you want to mine profitably, you'll need a latest gen ASIC, a very low power price, big starting capital and a (semi)dedicated mining room. If you got your hands on some of the best GPU's, at current diff and BTC price, you'd make about 14 cents a year mining 24/7... Offcourse, even if you only pay 5 cents/Kwu, the power company would charge you over 65 dollars for the power you've used while mining, making your net profit minus $65. https://www.mocacinno.com/mining/mining.php?filter_type=GPU |
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I've waddled trough 4 pages and tried to read most replies... I tought about just letting this thread pass by, but since i've seen nonsense being spewed, even by longtime members, i had no other choice than to set the record straight. I would propose that everybody tries to read this post (i've tried to make it as newbie friendly as humanly possible, even if it meant oversimplifying) and ONLY post in this thread if you have LEGITIMATE questions about my post or if you have PROOF that i messed up. If there are no more questions, or if you fail to deliver proof that my reasoning is wrong, please let this thread die in piece (this topic has been discussed to death anyways).(part of) The theoryIn order to mine a block, a miner makes a new block header by taking the sha256d hash of the header of the previous block, adding the merkle root of all transactions in the block he's trying to solve, adding some other data that isn't interesting for this post and adding a random nonce (usually incremental). In order to solve the block, a miner increments the nonce and then executes following formula: sha256(sha256(new block header)). If the result of this algorithm is under a certain target, the block is considered to be solved and can be broadcasted to the network. If the result of the algorithm is over the target, the miner increments the nonce and tries again. The target value is determined by the difficulty. The bitcoin network adusts this difficulty everytime 2016 blocks were solved (about 2 weeks). The difficulty is adjusted upwards or downwards to make sure the average time between 2 blocks is 10 minutes. So, if a lot of hashrate would be added to the network, the difficulty would shift upwards after a maximum of 2 weeks, this rising difficulty would make the target value lower, making it harder to solve a block. My answer to the misconceptions:- Calculating a sha256 hash isn't really hard to do... You can even mine using a pen and paper... HOWEVER, since the networks hashrate is soooo high, the difficulty is sooooo high and the target is sooooooo low, the odds of finding a block are incredibly small (you would need an army of about 130.000 skilled mathematicians to create 1 sha256d hash result a second... By comparison, an antminer S9 creates 14000000000000 hashes each second). So, all in all, a cellphone's CPU or GPU *could* create sha256d hashes, however, the odds of ever finding a block, or even generate enough shares to get the minimum payout @ a pool are incredibly small... I once calculated you'd have better odds of winning the lottery several times in a row than than finding a block with your cellphone. In reality it's better to say it's impossible to mine with a cellphone/cpu/gpu... It makes life easyer for everybody
- In the future, it's indeed possible we move to 7 nm chips, and your cellphone becomes more powerfull than the PC you're using today... However, there is no reason to assume ASIC producers wouldn't follow the same technological trends. In other words: by the time cellphone companies are using 7 nm tech, ASIC producers will probably have switched to the same technology... Since an ASIC is generated for the sole purpose of creating sha256d hashes, it'll always be thousands of times more powerfull than a cellphone. They'll just push the difficulty to a level even future cellphones can't reach. So everybody saying: 'in the future you'll be able to mine bitcoin with your cellphone' => i'm sorry, but the odds of you being right are extreeeeemly small
- it's true samsung created a mining rig out of old cellphones. While their hashrate was higher than running one of those novelty mining apps you can find in the playstore, the power consumption vs the hashrate was still very, very, very, very poor. The hashrate in itself was really low to... So while it was true that samsung created such a mining rig, it should be considered as a proof of concept, something to show off with, or maybe a learning tool for samsung's engineers... However, you can not treat this samsung project as a legitimate mining project
Last but not least, i wanted to raise 2 extra points: 1) it's perfectly possible some altcoins could be mined with your cellphone/cpu/gpu... But we're in the bitcoin mining subforum. 2) if you want mathematical proof, check out my website: https://www.mocacinno.com/mining/ . I've included a couple mobile cpu's because this question keeps on surfacing, and i wanted to proof to everybody that is spewing out nonsense that it's NOT a good idear to mine with your phone. For example, at current diff, mining with an ARM Cortex-A8 (a common cellphone CPU) in a pool would make your less than 1 satoshi per year... |
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If I want to go I will go,but its not true,why did I write that i will pay after 5 days? 0.0002 btc is enaugh for easy signup. Site is about airdrop. I have not funds now,But I will have, that's why. And the fact that I'm newbie is not an absolute determinant that I am a cheater. So i think we all have lost trust everywhere in everything... Nobody is saying you're a cheater, however : most long time members have seen dozens of newbies offering micro payments for tasks and dissapaering once it"s payday... So everybody should be cautious... Want my advice? You offer a bounty of $82 at current preev rate... I would advice you to buy some btc or ETH with fiat and escrow these funds with a trusted escrow. Once people see those funds are being helt by a trusted member, newbies will probably flock to your offer. Not having $82 bucks right now isn't a real excuse imho. Whatever you chose to do is up to you tough |
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What your device you want? Desktop or mobile. Electrum is the perfect choice
I think so. Electrum the best wallet for bitcoin Electrum is a decent wallet, but i would never go as far as calling it the "best wallet for bitcoin". Electrum, like many other wallets, have had their fair share of bugs that could have been used in various exploits. ThomasV is a decent guy, he stands behind his software and is a valuable part of our community, but he's still the only "real" dev of electrum (AFAIK), a desktop wallet... Even after all his hard work, i'd still prefer a hardware wallet over electrum. Offcourse, i do use electrum as a gui for my hardware wallets, since electrum's feature set far exceeds that of trezor's web wallet (for example). |
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On the High transaction fees last time i faced was when i was transferring 0.1 btc and i had payed nearly 0.005btc transaction fees to get confirmed fast and it took only 5 minutes to get confirmed. But just after that transaction i sent same way of transaction with same transaction fees and it took nearly 18hrs to get confirmed. So their is no much difference if the transaction queue is very high then even when paying high fees it takes long time to get confirmed. Lowest i paid last week 0.009 i paid only like 500 sat thats it and it got confirmed in 10 min
You shouldn't be paying a flat fee per value, you should be paying a fee per byte of transaction data (it doesn't matter which value you transferred, a 0.0001 BTC transaction can be LARGER than a 100 BTC transaction, thus requiring a higher fee eventough the transmitted value is 1000000 times smaller). All that matters is the number of unspent outputs that have been used as an input of your transaction, the number of outputs generated by your transaction and wether or not you're using a segwit wallet. There are other parameters that can also influence the transaction size, but they shouldn't matter for a "normal" user. IF you had to pay a 0.005 BTC fee, it was either several months ago (during the spam attack) OR you were spending from an online wallet that uses a bad fee estimator OR you were spending hundreds upon hundreds of unspent outputs. I think it's will be must of transaction fee.but I suggest you fee should be very low fee.because if we pay fee of transaction. there working of that with in few minutes l think so.
I haven't got a clue what you're trying to say, sorry... But if you're telling people thay should use a low fee, you should rethink this. The fee is the difference between the sum of the inputs and the sum of the outputs. A miner can add the sum of all fees of all transactions he includes in the block he's trying to solve to the coinbase reward of 12.5 BTC (at the moment). The more fee per byte of transaction data you add, the bigger he odds a miner will include your transaction in the block he's trying to solve. At the moment, adding a very low fee is fine. But if you continue adding a low fee during a spam attack, your broadcasted transactions will probably never end up in a block (unless you keep rebroadcasting them for months). Most nodes prune unconfirmed transactions from their mempools after a couple of days, lowering your odds of getting your transaction confirmed. You should advice people to use the appropriate fee at that moment in time. At this very moment, a 1 sat/byte fee is fine... In a couple of months it *might* be 100 sat/byte (who knows). I've had to add over 400 sat/byte in the past in order to have a decent chance of my transaction ending up in the next 6 blocks... |
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Bitcoin transactions usually occur for free if the amount of Bitcoin shipped exceeds 0.01 BTC and the confirmation time depends on the bitcoin transaction itself.
nope... you're talking about priority transactions ( https://en.bitcoin.it/wiki/Transaction_fees#Priority_transactions), but allmost no miner will add 0 fee transactions to their blocks anymore, even if they're priority transactions. A 0 fee transaction won't even make it to the mempool of a lot of nodes. So, theoretically it's possible to have a 0 fee priority transaction included in a valid block, but the odds are not in your favour. |
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The answer to your question depends entirely on how full the mempool is currently, which can be viewed here: https://jochen-hoenicke.de/queue/#2,24hAt the time of writing, the latest block contained transactions with fees of less than 1 sat/byte, which only took a few minutes to confirm. That's a good link, the one i usually use is https://coinb.in/#fees it has the added benefit of having a fee estimator @OP: there is no guaranteed fee that will result in a fixed confirmation time. Every 2016 blocks the diff is adjusted to make sure the AVERAGE time between 2 blocks is 10 minutes, so even if you'd pay a huge fee, by chance it could take way more than 10 minutes before a block is found. A second thing is that a miner can chose which transactions he includes in the block he's currently trying to solve. There is no 100% guarantee he'll pick your transaction, EVEN if you pay a huge fee. Offcourse, miners are running a business nowadays, so if you add a big fee, the odds of them adding your transaction is rather big. |
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We are planning to build a mining farm pretty soon, but one aspect I was thinking about a lot is which wallet/s to Mainly depend on to save all my coins ?? I have been using coinbase and they are great, supporting android app and fast withdrawals etc... But is it really safe ?? and should i save my coins in one wallet or spread them across say 3 wallets ?... and is it a good idea to save your Huge earnings on your local windows PC (RAID10) + Daily backed up ? or should i just stick to coinbase wallet ? Of course we are talking about here potentially 0.1 BTC/mo which is relatively huge (IMO)... another thing, what pools out there are really recommended for ASIC miners ?... I havent used any really coz am a nicehash guy Hope this thread doesn't end up in the graveyard just like the previous ones for some reason !?!?  Thanks, Coinbase? I wouldn't use them to store 5 cents. Coinbase isn't a wallet, it's an exchange that allows you to create transactions without having access to your private keys. They have locked accounts in the past, and if they decide to take your money, dissapear, go scam, get hacked... You're basically left empty-handed. Online wallets and exchanges aren't good wallets, they're a huge liability and completely against bitcoin's ideology of "being your own bank". Since you're talking about really big earnings, the following wallets should be considered: - A locked wallet on an airgapped PC, preferably a very recent version of bitcoin core, non HD on a patched linux OS, preferably with an encrypted disk
- A properly generated paper wallet, bip38 encrypted with a strong password (preferably an unique password for each paper wallet, saved in a backupped password vault)
- A hardware wallet, preferably a popular one that is peer-reviewed (ledger and trezor pop to mind)
You should keep a backup of your seed, your bip38 encrypted paper wallet or a regular backup of bitcoin core's wallet.dat in a VERY safe place (like a bank vault). You can even use shamir shared secret scheme in order to break up seeds and encrypted paper wallet's private keys in n parts and store them in different bank safes. If you want some easy-access BTC in order to pay people for bug bounty's or work on your pool, you could use a decent desktop wallet on a clean machine to keep a couple hundred bucks worth of BTC... EDIT: btw, spreading your funds over multiple wallets is usually a good idear... The risk of losing access to one of the wallets increases, but the amount lost if one wallet gets hacked/is lost decreases. |
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and lastly, i need the client for running ETH node. can you guys help? sorry to bug you too much
but the project involves running these 3 clients and loading the data into a DB. but by the looks of it , it seems a lost cause, considering the volume !
I've never run an ether node either, but i think you need geth https://github.com/ethereum/go-ethereum/wiki/gethBut yeah, if you're going to parse the full BTC, BCH and ETH blockchain and insert the data into a relational database, you'll need loads and loads of processing power and fast storage (and a lot of it). |
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Oh ok...its more complicated than i expected i guess. That's why i proposed to use an existing block parser and edit it to suit your needs  IMHO, usually it's better not to re-invent the wheel... yeah agreed. And You are a Legend, Mate! This is a project that i have to complete, so it is going to be very useful. Especially the links that you have shared. also, i am unable to find the software for running the node for BTC Cash. Can you help? I have never run a BCH node on any of my machines, but if i'm not mistaking, bitcoin-abc is the reference client for bitcoin cash. I think this is the github repo: https://github.com/Bitcoin-ABC/bitcoin-abcDisclaimer: since i've never run a BCH node, i can't be 100% sure this is the correct reference client! |
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Oh ok...its more complicated than i expected i guess. That's why i proposed to use an existing block parser and edit it to suit your needs IMHO, usually it's better not to re-invent the wheel... But i wasn't kidding when i said this task will be very resource intensive. I tried parsing the blocks and inserting them into a simple mysql db a long, long time ago... I had to quit because the progress was so slow. |
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Hi,
I am looking to set up a main BTC node and loading the data into a DB. i downloaded the node software from BTC core and have proceeded with sync..Now i have a set of files but they dont seem to be in a readable format. How do i load them into a DB? Is there a schema? I tried searching the internet but i am unable to find it. Or am i missing something?
There are several options, the easyest one is searching for an existing block parser in a language you understand, and adapting it in order to insert all data into a relational database. Do expect this to be a very time and resource consuming process... You'll need hundreds of gigabytes of diskspace, and if you mess up your relational database, inserting, deleting, updating or selecting records will be painstakingly slow. In the past, i've found a couple projects you could find interesting: https://github.com/znort987/blockparserhttps://github.com/alecalve/python-bitcoin-blockchain-parserhttps://github.com/neocogent/sqlchainGreat! Thanks a lot. But is there a schema or something for the data? I want to load the data using java. so if i have the data structure for the data, i will probably able to write it myself? No, there's no schema, it's not a relational database. Here's an old document i found on http://codesuppository.blogspot.com/2014/01/how-to-parse-bitcoin-blockchain.htmlhttp://2.bp.blogspot.com/-DaJcdsyqQSs/UsiTXNHP-0I/AAAAAAAATC0/kiFRowh-J18/s1600/blockchain.pngHere's a link to the wiki: https://en.bitcoin.it/wiki/BlockGood luck |
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Hi,
I am looking to set up a main BTC node and loading the data into a DB. i downloaded the node software from BTC core and have proceeded with sync..Now i have a set of files but they dont seem to be in a readable format. How do i load them into a DB? Is there a schema? I tried searching the internet but i am unable to find it. Or am i missing something?
There are several options, the easyest one is searching for an existing block parser in a language you understand, and adapting it in order to insert all data into a relational database. Do expect this to be a very time and resource consuming process... You'll need hundreds of gigabytes of diskspace, and if you mess up your relational database, inserting, deleting, updating or selecting records will be painstakingly slow. In the past, i've found a couple projects you could find interesting: https://github.com/znort987/blockparserhttps://github.com/alecalve/python-bitcoin-blockchain-parserhttps://github.com/neocogent/sqlchain |
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IF i'm not mistaking, bitcoin.com is pushing bitcoin cash (BCH), so the OP might unknowingly have purchased BCH instead of BTC.
By recommanding the OP to download electrum, he can get himself into a lot of troubles! He might end up having to export private keys from electrum and import them into a bitcoin cash wallet in order to regain access to his funds.
It's also a lot more plausible the OP has 10 BCH in his wallet opposed to 10 BTC.
10 BCH = ~$8.600
10 BTC = ~$82.000
@OP: can you verify if you have BCH or BTC in your wallet?
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Eventough that's not really relevant in this topic, what would happen is that you'd be able to spend the unspent outputs funding the public key hash (commonly known as the address) of this private key from 2 wallet implementations. As soon as the unspent outputs were spent from one of the wallets you imported the private key into, they would be removed from the utxo, so the other wallet would no longer be able to spend them. |
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