I quoted a part of it, if you want to read more, click on the link and see full content. Forum rankWhen you start out, you are a Newbie, and you will run into various annoying limits. These limits will be reduced to the point where you shouldn't usually notice them after you have participated in the forum for a few weeks. If you are on the forum to talk, then that's all you really need to know about rank. Don't worry about it too much, and you will eventually rank up. If you want to maximize your rank, then you need to increase two statistics which are listed on your profile: - Activity, which is maximized by posting once per day on average. Posting more than that is useless in raising your activity.
- Merit, which is gained by making good posts.
If you make ten thousand posts in a week, your activity will be capped and you will still be a Newbie. If you make ten thousand useless posts over any period of time, you will gain zero merit and you will still be a Newbie. You can rank up only by making good posts consistently. It's quality over quantity. When trying to write quality posts, a lot of people act as though they're writing a book report for school: putting facts that we already know into their own words. Nobody wants to read that, and you will not get merit for it. Moreover, the length of your post and the quality of your English are only minor factors. In trying to write a quality post worthy of merit, you should offer new ideas, personal experiences, or perspectives that other forum users will actually find new and interesting. |
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You can use Wasabi wallet and don't use block explorers to check your transactions. If you use it, do it with Tor connection. |
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The underlying data is from the originating IP address of the miners connecting to the pools, not the pools themselves.
If someone connects to a pool with a Chinese IP address, they will show as being a miner from china. If someone from china uses a VPN located in the US to connect to their pool, they will show as being located in the US.
This. CBECI has three big assumptions in their methodology- Assumption 1: IP addresses of mining facility operators are an accurate indicator of hashrate location.
- Assumption 2: data provided by participating mining pools constitutes a representative sample of Bitcoin’s total geographic hashrate distribution.
- Assumption 3: the available sample of Chinese province data is representative of the total hashrate distribution within China.
The accuracy can be affected by - Underlying IP address and other sensitive data from mining pools that CBECI can not access;
- Representative of sample size for global hashrate
- Representative of sample size for China
One thing is clear, China will see great amount of reduced income in their country.
They - government - can only get tax and power bills from miners there. They can increase power base price or increase tax rate but their priority now is energy supply for the country, for more essential industries. Most of income will be for Bitcoin miners, not government or the nation. |
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Several articles have been written on how the government always print more money just to pump the Central currency due to inflations and this has always given Bitcoin and edge over them
Please read a few resources about Bitcoin supply and Central bank digital currency (CBDC). Next, look at the chronological chart of the purchasing power of US dollar. Lastly, make sure you read the topic about Equivalent network time. In that topic, you will get the estimated time to mine 1 BTC, now (since 2020 May halving till 2024 halving) that is about 48 seconds; then compares it to the estimated time about 12 mins 48 secs in 2032. In 2032, 99.2% of total supply will be mined (see in Controlled supply) |
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The way merit is given here,I don't really think it's base on how quality your post is anymore,it's seems it base on how people know you in the forum
It is partially true. There is no perfection on Earth and there are loopholes with which people use their sMerit inappropriately just as likes, supports or lazily dump their sourced sMerit to complete their sMerit distribution. I said that because,one can post something that is of good quality,a post that deserves merits,but because he is not known by people in the group or forum,he will not be given any merit.
Again, it is partially true but if you make quality posts consistently, you will do receive merit. Additionally, there is multibilateral compensational effects. - Some of your quality posts might not receive merit, like you said
- Some of your quality posts will receive merit, and receive a lot, more than it deserves.
- Net-effect: if you make quality posts consistently, you will still receive good amount of merit
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Miners are interested in profit, and that profit comes from many reasons, the most important of which is cheap electricity.
It is true for household, small miners but untrue for big mining farms that have long-term vision as same as act as long-term hodlers. Small and weak miners have to turn off their ASICs and they are main parts of miners capitulation wave. I do not think this data is accurate. Bitcoin mining may return to China when the problem of electricity generation in China ends and the laws are less strict, but this does not mean that mining has reached zero.
I agree. It looks to be unrealistic. Even big mining farms completely turn off their ASICs, small or household miners can keep their operations but with them, the biggest issues is they are vulnerable to Bitcoin volatility. We can not verify how much is hashrate from China in recent months but I am sure it is not zero. China, the United States or anywhere is not as important as the possibility of having a place to make profits from bitcoin with reasonable expenses in electricity, cooling, and the rest of the other expenses.
The United States may now be the leader, but as I told you, as soon as there is a better place the miners will turn.
I would like to see more decentralization of hashrate, and would not like to see it concentrates in the USA. or any country. At least, a more geographical decentralization is better than nothing because it will be less vulnerable to news about crackdown, ie. |
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Most of exchange platforms provide the possibility of withdrawing Matic with zero fees.
Not free on all exchanges for withdrawal, details are available on Withdrawalfees.comMatic use manly because of low fees so I do not think that a person with some cryptos will be unable to pay 1 dollars to buy some Matic, which may be considered enough for many transfers.
I agree with you. If I want to use a chain with swap feature, I will allocate a number of coins to use as transaction fee, swap fee: on BSC, it's BNB; on ERC20, it's ETH, and so on. To avoid getting troubles, don't click on Max button when you swap. |
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You can not call the sum of all this "more decentralization" since one country (regardless of personal feelings about that country) has no miners anymore. If anything this event decreased decentralization since countries that already had a share of the total hashrate now have more share while China has 0.
I meant there are more hashrate in other countries especially the USA and Canada. Hashrate grows up too fast in those countries. I meant it is geographical decentralization that does not equal to the decentralization of hashrate in ownership. The percent of hashrate from the USA does not increase too much, because there are other countries have increase in hashrate. If the trend in other countries keep going and bigger than from the USA, the percent from USA. will fall down. The USA will likely not a second dominating nation like China. From Apr to Aug, assumtion - those stats are accurate. - USA: 26.5 to 42.7 EHS or 16.9% to 35.4%
- Canada: 4.7 to 11.5 EHS or 3% to 9.6%
P.S. I doubt the accuracy of the first chart that shows China had about 75% of the hashrate in Sep 19.
I am not sure, but possibly if we know in the past few years, there are some pools in China that sum up to more than 51% of network hashrate, so a few smaller pools can contribute to bring it up to 75%. Obviously I know pools and ownership are different if we talk about origin of hashrate. |
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I can believe that some individual person is still mining, but the big farms? Not a chance. It would be easy for the Chinese government to detect large light consumption, plus surely they had already detected where the farms were before. Why go to another part of China to continue mining if they can go to a country where it is legal?
Apart from the fact that normally nobody wants to have problems with the government for exercising a forbidden activity, but even less with the authoritarian Chinese government.
As said, China has been in a crisis of energy shortage hence they have to implement serious regulations on Bitcoin mining to make sure energy supply is enough for other industries that involve more in the national wealth. When it is fixed, they will see no reason to keep the ban on Bitcoin mining that is not harmful for the nation. |
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Updates with raw EHS by countries- The USA.: Increase from 15.7 EHS (Jan) to 42.7 EHS (Aug)
- Kazakhstan.: Increase from 9.2 EHS (Jan) to 21.9 EHS (Aug)
- Russia Federation: Increase from 10.3 EHS (Jan) to 13.6 EHS (Aug)
- Canada: Increase from 1.3 EHS (Jan) to 11.5 EHS (Aug) - If the data is accurate and if Canada maintains such growth rate, it will join top 3 soon.
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One interesting thing that we all know is that most of the top mining pools are still coming from China, even if they are not physically showing location in mainland China.
Everyone knows that F2Pool, Antpool, ViaBTC and few other pools have majority of hashrate, and they are probably using some VPN or proxy to redirected IP addresses.
We don't have any big new or unknown mining pools so I don't think anything really changed despite numbers this Cambrigde website is showing.
It is impossible to believe that mining in China has fallen to zero, even when the government is tough on something, the compliance rate will not be zero.
So while the numbers may not be that accurate, the trend is clear: everybody who could has moved out of China.
I agree that we can not verify those data, not only for China but also for other countries. It is unbelievable that all mining farms located in China mainland turn off their ASICs. From the peak (13 May 2021 - 197.6 Ehash/s) to the bottom (28 June 2021 - 68 Ehash/s), it is a 65.6% drop of hashrate. After that hashrate recovers a lot and we can not know where the newly added hashrate come from, with contribution of China or without China. The only thing we know is Bitcoin mining industry is growing and expanded to other countries, more geographical locations, more decentralized. https://bitinfocharts.com/comparison/bitcoin-hashrate.html#3yWe can not verify things are happening in China now but with the FUD history of China mainland, I believe when their government solve issues of energy supply, they will allow Bitcoin mining again.
Even if that happens, I don't think most of the miners would go back [it's not worth the risk].
It is same for exchanges, they gradually to migrate out of China mainland, years ago. The latest attempt to make more regulations and barriers for crypto transactions in China mainland only give crypto exchanges more reasons to move their main officies out of China. So miners can turn on their ASICs if the ban on Bitcoin mining is removed but I agree that more miners and mining companies will try to decentralize their own risks by moving to other countries. |
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- Source: Cambrigde Bitcoin Electricity Consumption Index
- With the great hashrate migration, since May, the distribution of Bitcoin hashrate on the globe has changed a lot.
- There are some countries which have increases of hashrate such as the United States, Russia, Kazakhstan. China has a share fall to 0.
- More decentralization, at least geographically, more ownership of hashrates.
- Good or bad. Please share your thoughts about this trend.
* Note: In graphs, I made a typo: Perent, it should be Percent.To help you more easily to see chronologically changes, I break it down by country, over months. |
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While most of this spam can easily be reported, and will most likely get removed, it's not so easy when it comes to local translations of ANN threads.
There are restrictions for local communities which don't have sub-boards. Members of such local communities are not allowed to publish translations of ANN threads in their local threads. I guess it's because global moderators will have difficulty to moderate those contents and they can not rely on translation machine to do their moderation. In local communities, with sub boards, you can submit reports and global & local moderators will handle your reports. Do not create threads or post translated ICO Announcements in hereIt is prohibited to create translated ICO threads for Local Languages that don't have their own sub boards. Due to abuse, it is also prohibited for users to create threads outside of their Local Thread. This sub forum is for those languages that don't have a local board to have their own thread to discuss bitcoin in; it is not a place for account farmers and spammers to easily abuse campaigns. If you post threads outside of your own local thread you will be banned.
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Thanks for sharing. I would prefer to help with two threads on the forum and two resources from two famous websites. |
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Surprised when a newbie asked and other newbies answered, with posts that should not belong to newbies. 
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1. The best time to build a long term portfolio is in bear market
If you join and build up your portfolio too soon in bear market, you will have loses and have to wait for many months go see profit. 2. Bear market don't care about any project, if your project is weak bear market can easily kill the project
The bear market does not kill anything. It is projects disappear by themselves. Developers already get good profits in bull market and if they don't have dedication to develop their projects, and only care about money, bear market gives them chance to exit and enjoy their lives. Good projects with team members who have good dedication for developments, will stay being actively and keep up their developments in bear market. 3. Bear market reveals which coin is strong and which coin is weak, many coins won't even live through the bear seasons
It takes months for the Bear to filter scam, bad projects and good ones. 4. You get more quantities of coins if you buy in bear market
Only makes sense if the coins you buy are good ones. You will end with zero capital if you buy shit coins that end with zero trading volume. |
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I got the clue, but as you also noted that it would be possible only if the user received initial merit airdrop. I have had about the merit airdrop, when it happened, did it also come with the expected smerits? Like I you are airdropped 200 merits, will you automatically have 100 smerits? If no, it means it cannot farm the merit.
No. When the merit system was kicked off, merit and smerit distributions are different. It does not work with the ratio of 1 merit : 0.5 smerit like we see per rules of the merit system.All Legendary members got 1000 Merit but none of them got 500 sMerit (airdropped) and the max sMerit they got is 400. Please see the formula given by theymos The exact formula was: yearActivity = activity in the last ~year, max 378
freeMerit = the merit (not sMerit) you started with
modifier =
0.1 if member
0.2 if full member
0.25 if sr member
0.35 if hero
0.4 if legendary
return (yearActivity/378) * modifier * freeMerit So the most you could get is if you were a Legendary who maxed out your activity points in the last year, in which case you would get 1 * 0.4 * 1000 = 400 sMerit. Note that I later made an adjustment giving 500 extra merit to some hero members, but no extra sMerit was given here. I'll probably publish a dump of the initial sMerit at some point. |
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I have a good paying job that comes with lots of incentives I have been working here for quite some time now but my issue is that this job is very much demanding and my boss is very strict. I barely have time to rest and for now I can't afford to quit because it's just the key source of livelihood for me.
If you can not afford to quit, why do you want to quit that job? If you want to exit that company, you can try to look for the similar job in other companies. How long would it take to master a course in Blockchain development and is it a good option for someone who choose to take up a career in tech?
In the meantime - when you're looking for a new job - you can begin to learn about blockchain, blockchain programming and you can look for a second job in blockchain industry. How long does it take? Nobody can answer you because it depends on multiple factors - Your familiarity with programming
- The time you spend to learn about new things - exclusively blockchain programming
- Your ability to adapt to changes in this industry
- The general trend of the crypto market - there are more jobs in bull market than in bear market.
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Quite a few people I know are switching from Binance to FTX, and from what I could hear they are all satisfied with it
Because they waive withdrawal fees especially last year when transaction fee on ETH network was very expensive. Binance was one of the early investors in FTX and those two were pretty close, but few months ago they bought back the shares from CZ, which is a smart move I think, to distance themselves from Binance as much as possible.
Smart move, definitely. They also do another smart decision, a partnership with Solana as a core blockchain for FTX. They did not choose Binance Smart Chain as you said, they want to keep distancing from Binance. Because they are bigger and aware that they can compete with Binance in the future. |
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For your information in the past decade the "number 1 exchange" has been changing every couple of years. Each time a new one comes along replacing the old one before it is replaced by another!
The first one I remember was Cryptsy then it started acting shady and was replaced by Poloniex then that started acting shady and asked for KYC and was replaced by Bittrex then they started acting shady asked for KYC and scammed their users so they were replaced by Binance. Today Binance is acting shady and asking for KYC...
The number 1 position changes quickly because people only need convenience and liquidity to make their trading or investment life easier. Binance joined the market in 2017 when people were disappointed with bad operations and terrible liquidations on Poloniex. Then Bittrex took over the number 1 position from Poloniex, and in a few months, there were many pump & dump games on Bittrex. As you said, eventually Bittrex implemented KYC and did shady things. Many people got funds stucked on Bittrex and failed to do KYC. It was the great chance for Binance to join and beat both Poloniex and Bittrex.
In the future, there will be new exchanges with good brains behind. They can take over the leading position of Binance. The plus point of Binance is they are very creative with good brains & adaptive to trends as well as regulations. It is challenge for current & new exchanges to beat Binance. |
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