Mining will not fade if BTC is adopted en masse, in my opinion because at that point the world governments will have a vested interest in keeping it working. I imagine maybe a bunch of gov't agencies tasked with running ASICs and the mining fees accrue to the gov't as taxes.
There is no need because with many or few, bitcoin production remains the same. It self-adjusts every 2016 blocks (about two weeks). Those with vested interest in bitcoin, such as business, can run their full nodes and some mining if they want. The last miners will be among that group, hobbysts (and those with free energy). You have nothing to worry about the inevitable decline in mining, it is a natural market response. This process might take a few more years depending on bitcoin price, but the price will not compensate at the same rate as hashrate production, making it more and more unprofitable to mine. |
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No i don't think they use the same controller. But i seem to recall there was an older S15 firmware from 2018 with a exploit that allowed SSH access back.
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You do make sense from a technical stand point, i remember using a modified firmware for old school D3 and i was able to bring some dead boards back to life using super high voltage,
However to my personal experience, the chances of "resurrecting" dead S9 boards are pretty low to the point that they don't worth the time flashing BraiinsOS.
This indeed has no scientific back up and simply based on my personal experience and some other miners, having said that trying out BraiinsOS does not seem like a bad plan at all.
Specially considering you don't need to flash it into the controller's nand, just boot it from the sd card by moving a jumper. Don't like it? Take out the card and move the jumper back. Nothing happened. As for resurrecting chips there are two things you can do: Lower speeds (in mhz), or increase voltage. Lowering the speed is safer, you should only try messing with voltages under 9v, else lower those mhz. |
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if you do the maths the very last bitcoin will be mined in approx, the year 2140.
At the 2032 ish halving the overall supply will be 99.21% mined. That's almost all enough for me. In less than ten years it'll be 98.5%. It's easy to let mining slip to the back of one's mind. There's been a veritable torrent of coins arriving for many years and that's going to dwindle rapidly. It'll be very interesting to observe the effects as the production levels are something we've gotten totally used to. Let's hope that fee market is good and strong by then. It doesn't, and it probably won't be. Mining is destined to fade. The writing is on the wall (actually in the code) and those large miners who don't shrink now, will go bankrupt. You are going to get less bitcoin, and fees will remain low, even lower now with LN. There will be miners, just not as many. Hashrate will plummet, and difficulty with it, at the same time the asics are very efficient but they won't be profitable on most places, and as time passes they won't be profitable anywhere, and even asic production will fall. This goes tied to the bitcoin production, because its logarithmic as you correctly noticed, in less than 10 years most the mining profits will be gone. |
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I'm not sure how IBM is able to classify transactions as unlawful. It's BTC, not bank transactions, and no-one knows who has what address, etc.
If they are classifying these transactions by how what has been detected to be a darknet/illegal wallet, this would be very false due to a large amount of undetected criminal activities. This inevitably depends on people reporting criminal activity associated to certain addresses. For example in the Binance theft, if Binance gave IBM the list of addresses. Someone somewhere (maybe even IBM themselves) need to keep a database of tainted addresses. As for darknet transactions, when done well maybe you immediately cannot identify the buyer/seller, but you can probably match the purchase and flag it, and start seeking connections to/from that address all over. Darknet is not automatically illegal, some people simply like the anonymity, just like mixers. You could buy things there that would have normally done via Ebay or Amazon... I remember someone had a bot running doing random purchases and they made a museum with the many weird and mundane things bought. |
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Also with BraiinsOS you can force different speeds and voltages that might resurrect them again. And sometimes its just the silly sensors that are bust. But to use bOS you should avoid Bitmain's 2019 firmware if you don't have physical access or the sd slot in your controller... Besides i wouldn't trust the way Bitmain lowers speeds. Direct voltage and speed control is better than "minus 1, or minus 2 th", where its probably changing both without giving you enough control. Besides each board requires different settings anyway. But first thing to try is take out all three boards and test one by one with different data and power cables. |
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someone suggest good pool for braiins? ( but i see all working well ) 1-slushpool.com 2-depool.ckpool 3-zpool.ca 4-multipool.us Thanks Artemis3  zpool.ca is like nicehash, it needs the #xnsub parameter for decent bitrate... You would use it like this: stratum+tcp://sha256.mine.zpool.ca:3333#xnsub
stratum+tcp://sha256.na.mine.zpool.ca:3333#xnsub
stratum+tcp://sha256.eu.mine.zpool.ca:3333#xnsubUser is your bitcoin address, password is: c=BTCDon't use this option with normal pools, its only useful for coin changing pools. |
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I wonder how that will work. Machine learning requires a ton of good data as an input, so the network can learn the patterns and then see them in any data, but where did these companies get a huge list of money laundering transactions? And how can we be sure that they don't screw things up and start labeling as money launderers innocent people who use mixers to get more privacy?
Well this could only be a tool to assist detecting suspicious activity at best, but it isn't going to be accurate, especially at first. For example a a flag would be the fact that it used a Mixing service. I'm not against them, and people using them aren't necessarily money laundering, but it increases suspicious level and its one of the factors the AI will take into consideration. But, i don't think it will help much. It might help catch a few lazy money launderers, but the good ones will be able to do it undetected anyway. Chances for false positives is too high in my opinion. |
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Well i don't know the details, but i once sent coins to Bitpay from Electrum and immediately Electrum showed some sort of certificate. I'm sure this has a pretty name somewhere and quite documented, but if they can have that any merchant can. Thing is Bitpay knew immediately i was sending them coins without waiting for any confirmation (which is good as they have a 15min window).
It says "Payment request for BitPay invoice" and it shows a pretty icon with "View Invoice", this shows a Signature: Certificate, etc.
This all leads me to believe such thing already exists...
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Will Libra have a huge impact on Bitcoin and the crypto market in general?
No, this altcoin has nothing to make it worth more than the others, and if anything, it has a lot of things wrong. A pretty company behind it doesn't make a good coin, and Libra certainly isn't. It will not affect the market at all, if Libra is allowed to operate by the American government, which seems unlikely. |
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I went and read CipherTrace's report to see if I could find more on this story.
This is what I found Well this makes things more clear, thanks for bringing this report in. So, rather than simple Ponzi its an exit scam? Kim Jung Un huh? Not a fan of these mobile apps, especially closed source wallets... And what will be the community reaction about these coins? Accept them like nothing? Freeze them? Well if this turns out to be true since it appears to need confirmation... PS: Found the source, your text is missing more: 2019 the Year of the Exit ScamMassive PlusToken Wallet Ponzi Scheme Impacts 2.4 Million UsersUS$2.9 billion worth of deposits appear to have been lost when Chinese police broke up an alleged Ponzi scheme involving the purportedly South Korea-based crypto wallet and exchange, PlusToken. It is unknown how many people were affected, but PlusToken claimed to have between 2.4 and 3 million users/investors. CipherTrace has not definitively confirmed this apparent fraud or exit scam. The details of who was behind PlusToken and where its custodial funds went are currently shrouded in a mystery involving Chinese nationals, Chinese police, the government of Vanuatu, and the two supposed co-founders—a Russian known only as “Leo” and South Korean who uses the name “Kim Jung Un.” If confirmed, it would be the largest such loss ever, dwarfing even the US$600 million exit scam pulled off last year in Vietnam (See CipherTrace Q3 2018 Cryptocurrency AML Report). The wallet required users to download an app through which they could deposit crypto and also invest in PlusToken (PLUS). The company claimed the PlusToken coin, which is based on the Ethereum blockchain was developed by the core team of a major technology company. The wallet reportedly held Bitcoin, Ethereum, Bitcoin Cash, Litecoin, XRP, DOGE coin, Dash coin, and PLUS coin (the native cryptocurrency of Plus Token). Users accessed the wallet through a mobile app and could trade online at the PlusToken exchange website, pstoex.com. Both were not functioning at the time of this report. However, a copy of the whitepaper is still on LinkedIn https://www.slideshare.net/ArnoBalzer/white-paper-plus-token. A Crypto High Yield Investment Product Popular in AsiaPlusToken appears to have been a popular in Japan, South Korea and China, and the company claimed it would have 10 million users by July 2019. Typical of a HYIP (High Yield Investment Product), the astounding user growth (if they truly had some 3 million users) stemmed from advertising huge returns. Specifically, PlusToken and its affiliates claimed that even in weak crypto market by using arbitrage among various cryptocurrencies (enabled by a bot called AI-Dog) and cloud crypto mining they could deliver wallet holders an ROI of between 8 and 16 percent each month, which was paid out in PLUS. Users were required to deposit a minimum of US$500 worth of crypto assets to participate. PlusToken members could also make money by bringing new users into a multi-level marketing program typical of a pyramid scheme. In fact, new users could only join by through invitation from an existing PlusToken holder. However, it appeared there was no verifiable source of business revenue other than proceeds from new membership. Meeting with Prince Charles Lends CredibilityAll of this led to multiple warnings in the crypto community that PlusToken was a scam. The company’s founder publically dismissed those reports. However, after a company press release, replete with photos, claimed that on February, 2019 Leo had met with England’s Prince Charles at an Invest in Futures event hosted by the prince’s charitable foundation, PlusToken gained some newfound credibility. “Leo and Prince Charles had intimate talks on how the blockchain serves economic society, according to a press release promoting a new PlusToken exchange. Also, he put forward valuable advice on the development of future blockchain-related bills issue in the UK. Besides, Leo donated at the charity dinner generously and won a lot of complement.” With today’s potential for deep fake photos, CipherTrace researchers reached out to the Prince Charles Foundation to validate the authenticity of the photos. The Foundation confirmed “Leo” had in fact attended the dinner, however staff were not willing to provide other information, such as his last name, due to concerns over the GDPR. On June 28, 2019, Chinese police arrived on Vanuatu and arrested the “Plus Token Six” for running an “internet scam.” The Island’s government allowed China to almost immediately extradite the six—who were either Vanuatu citizens or applying for citizenship—back to the mainland.Alarm Bells Go Off in June as “Technical Difficulties” Prevent Users from Withdrawing FundsIn late June, PlusToken users began to experience trouble withdrawing custodial crypto assets. On June users found that withdrawals on the PlusToken app were frozen due to alleged “technical difficulties,” but by June 29 the PlusToken app had completely shut down due to alleged “system maintenance.” This caused great concern among the PlusToken Community. “The PlusToken Six”Also on June 29, Hong Kong’s leading newspaper, the South China Morning Post, reported that six Chinese nationals wanted by Beijing for operating an internet scam were arrested on the Pacific island of Vanuatu and extradited back to China. Vanuatu law enforcement and immigration authorities along with Chinese police raided a property where the six were conducting their operation. Subsequently the Chinese tech news agency 36Kr claimed to confirm that the “internet scam” reported by the Post was, in fact, PlusToken. Specifically, the arrests were for running a multi-level marketing company (pyramid scheme). As reported by the New York Times, China has been making a major crackdown on such business models, including Amway and Herbalife. On July 12, a PlusToken community website responded to the incident, claiming the six arrested in China were PlusToken users and not associated with the company, and “Thus, no need bother about this rumors (sic).” The statement further claims that withdrawals remain restricted because the server is still unstable and urges users to wait “until server synchronization and stabilization” and not to worry if they cannot log in because its technical team is trying to recover the server and data. The statement then asks users to stop trying to log in until they receive confirmation that the severs are back up. This was not the first time PlusToken has warned users not to believe “rumors.” In October 2018, after news started circulating in China that PlusToken was being investigated for violating Chinese regulations and engaging in fraudulent activity, the company’s co-founder, Leo, posted a video on YouTube https://www.youtube.com/watch?v=r3RTwNvgMu8 shot in his “hometown” of Kazan, Russia, telling users to “not pay attention to any haters.” On July 10, China’s Yuncheng Public Security Bureau told the Daily Planet Daily that the case is still under investigation and that there are suspects that have since fled. As of the release of this report, Plus Token’s official site, pltoken.io, also appears to be down with the last archive in archive.org occurring on July 1, 2019. The case has even raised political concerns in the South Pacific, Australia and New Zealand regarding the increasing influence of China. The local newspaper reported that the rapid extradition of people who were either citizens of Vanuatu or applying for citizenship showed how the government bent to the will of the Chinese, and may have confirmed fears that Chinese intelligence was operating covertly in the country. “When they arrived in Vanuatu, Chinese law enforcement provided critical information to Vanuatu police concerning the PlusToken scammers. They not only knew their names; they knew where they lived,” said a report in Vanuatu’s Daily Post. This also raises issues for international regulators and cryptocurrency users as to the 3-billion-dollar question: there is no word from the Chinese authorities on the fate of the missing user funds. Certainly this “exit scam” warrants further investigation, because unlike similar cryptocurrency frauds, it is not clear that insiders made off with the loot. CipherTrace will provide updates if available in next quarter’s report. On July 12, PlusToken responded to the incident on its website, claiming the six Chinese nationals arrested in Vanuatu were PlusToken users and not associated with the company, and “Thus, no need bother about this rumors [sic].” (See screenshot above). The statement further claims that withdrawals remain restricted because the server is still unstable and urges users to wait “until server synchronization and stabilization” and not to worry if they cannot log in because its technical team is trying to recover the server and data. The statement then asks users to stop trying to log in until they receive confirmation that the severs are back up. As of now there are no further updates. |
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There are too many altcoins, so its normal for some to die. Doubt they will all die, that is also unlikely.
Bitcoin has always been dominant, it has always moved the most money, and its also the most busy blockchain (and the largest).
Perhaps some people are discovering, perhaps some people finally found out it wasn't a joke.
Lightning Network is seeking to fill the niche case of the little transaction that needs to go thru instantly, the infamous coffee buy. this is still yet to be seen in actual widespread practice, but ignoring this niche, for everything else Bitcoin is doing a superb job replacing wire transfers and all non instant forms of payment.
If you can wait a day, you can pay the minimum fee of 1 sat/B, and i can't wait until they let us do 0.1 which is supposedly coming.
Paying more than 1 dollar is silly, don't let the stupid wallets decide for you what your transaction is worth. If you can wait a day don't bother with anything above 1 sat/B, those often go thru in like 1 hour. If you need it in tens of minutes probably 2 sat/B will do it. Anything else is the wallets mis-guessing things, and feedback looping themselves.
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Yes, Americans landed on the moon, and others sent probes and other garbage. Most recently Israel had an "oops" moment sending a probe that crashed and spread a bunch of things including tardigrades (living water microscopic creatures that can actually hibernate in space endlessly).
There are also the latest Chinese probes, and from several other countries. I think even SpaceX is going to send a Japanese richman tourist to orbit in a couple of years.
Technology in the 60ies was adequate enough, especially within the military and state driven programs of the day. After the space race was considered "over", things slowed and even devolved a bit, programs altered and scraped, budgets cut, etc.
Rocket technology hasn't changed that much, but better materials exist now. SpaceX is successfully reusing stages, something nobody else managed to do before. Computers are far more powerful simplifying navigation. Even live video remains pristine during all stages, unlike before.
Just think about it. A rich American managed to do what 50 years ago took the whole Soviet Union and United States state agencies to pull off.
The moon landing was staged thing is old OLD conspiracy theory that predates youtube, but meh. Look at the Chinese pictures of the moon from the Chang'e probes. If you want to physically be there, just become rich and you have a chance to pay Elon Musk (or some other competitor) for the privilege. Just imagine, spend all your fortune to fly into space... Your contribution might actually help a little develop the space company you backed with your fortune.
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Does Japan not the first? Which few years ago, japan legalized bitcoin and considered Bitcoin as a legal money on their country.
Btw, it's nothing to do who's first who officialy legalized Bitcoin on every country, as long as Bitcoin continue to grow and mass adoption too. Glad to hear this positive news for Bitcoin Yes it was Japan that first legally allowed wages to be paid with bitcoin, from what i know it was optional and both employer and employee would have to agree on it. The New Zealand deal appears to be more compulsory for the employer if the employee requests it (more socialist). |
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I had actually installed plus token wallet back in May this year after knowing their dividend sharing model and looking at the increase in price. It was giving me a scammy feeling from the beginning so I posted a thread in this forum seeking the advice from the members on 14 May. But surprisingly no one bothered to reply so I dropped the plan of investing their minimum amount, $500. Thank God that I did not invest a dime and uninstalled the app.
Anyway, I think this is a temporary phase in the market. Price is decreasing because of higher supply but that is not going to last forever. I don't think it will be able to create a permanent dent in the market because demand is robust. If you have seen the trend, its very clear that the price is not just falling, it is also increasing to some extent before falling again. So if you stay put at this time and try to score some bitcoins below 10k price, it's going to be beneficial.
But such kind of incidents are actually reminding us the requirement of a strict regulatory policy at international level. Scams are on the rise and without a strict global norm, such incidents will occur again and the scammers will get away it! Let them, cheap bitcoin for all, this is the chance before the halving bull run... I guess those coins would be considered dirty? But if they are moving them into exchanges i doubt they care. Wonder why they didn't bother with mixers. So it was another MLM thing? bring n people and cash out 10x your investment? Heh, so typical. |
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I am of the opinion (my own of course) that for greater adoption, that we need to start pricing in SATs Can of Coke (X) SATs Meal in a nice restaurant (X) SATs Rocket for moon (X) SATs + me Bitcoin is on the up and buying a can of coke for 0.000096, gives the shop keeper a hard time - but with SATs that would be 9,600 Sats (or 9.6k - casual writing) - which, whilst in the UK might look like hyper-inflation Makes it easier for the shop keeper and consumer-friendly. I'm sure this has been talked about at length - you can just point me there. - About 12 thousand
- About 200 thousand
- No idea, we don't really launch rockets.
Our garbage coin is currently 1.5 per satoshi, so its kinda easy to give you those answers. In your example your can is 96 hundred, as expected from a country with a sane economy you have a bit lower prices due to better competition and free market.
Vote then,
If you walked into a shop and there was a can of coke for sale, what would you prefer to pay
a) 9,600 SAT b) 0.096 mBTC or c) 9.6k SAT I vote a of course, b is nonsense no matter what the USD/EUR centrists say. |
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I think most people in first world countries have never experienced the problems with hyperinflation like we had with countries like Zimbabwe and Venezuela, so they do not appreciate the "Store of Value" that Bitcoin offers people living in these economic circumstances. The USA & China trade wars is their first taste of economic instability, so they will soon start looking for something with a good "Store of Value" to protect their wealth and Bitcoin will be there to help them.  I do agree, those that live with super coins like the USD and EUR just don't get it, they are probably the last ones to feel it. I can't help but laugh when they say Bitcoin is volatile, oh i wish they could live here so they could get the true meaning of volatile, actually, in hyperinflation it only goes one way: down, faster every day. They also can't understand there are places on this planet where you are not allowed to purchase USD and EUR, or you are limited to ridiculous amounts or need to pass a lot of bureaucracy to get a ridiculous amount at fair price, and the rest you have to do with whatever the street speculators want, and if you don't act fast your money loses half purchasing power by tomorrow. Guess what also happens? Fake bills galore... Perhaps only those that lived in former Eastern Bloc socialist states have a notion of what we are suffering here. Bitcoin is giving us food, literally, to survive. |
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And also there is new possible ATH coming on bitcoin price that will make the price surge into the market.
Yeah I think we could easily see a new ATH between now and May 2020, and if not then, certainly before May 2021. 2020 is the halving but why one year after? You mean the time it takes for the bulls to wear off? I think that peak is coming at or near the halving, perhaps a bit afterwards but not a whole year later. |
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