I don't like Nicehash and the team behind it very much.
They do a great job for me, they pay their miners well (overall), and allow those who want to rent hashrate to be able to do so and try their luck solo with abilities they don't physically own. Good point for them.
However, they are currently losing their way in the race for profits.
Their "EasyMining" package is a scam, they charge people for hashrate rental packages at exorbitant prices, you see the auctions for these packages and the prices per Eh/s are sometimes up to 4 BTC. Which is ridiculous when the average price is (last time I did the comparison but it fluctuates all the time) 2.97 BTC per Eh/s at this exact time.
The worst thing is that when you buy one of their packs, they show you a graph with your luck, even with 5 minutes of mining with only a few Ph/s, you will still have a bestshare of x T according to them. ALWAYS. They cheat and lie, generate potentially addictive behaviour by faking the information given to beginners, and this is worthy of contempt.
Also, they stole their Team Mining concept from Willi, and are getting fat with fees on it. (without asking him anything)
So on the one hand they pay their miners correctly. On the other hand, this is possible because they are screwing their customers who rent hashrate.
I find this borderline, and I personally don't want to support this abuse, even for 6% more from time to time.
Willi borrowed team mining concept from me. Made an improved version of what I used to do. and ck made his solopool because I begged him to do it for at least a year. I then pushed team mining to support it and hit some decent blocks 3 I think I begged bitminter he refused to it and he went out of business. Nicehash is meh I do not use them much but they serve a purpose. They help to turn shit coins into btc. |
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yes. but being able to push more through a block would just be beneficial for everyone even the monkey tards. Lets be honest the 1MB block limit is holding BTC back, we can store alot more data now for dirt cheap. And folks will be bitching even more about the storage required for a full node to hold the entire chain... BTC was never intended to be used for general storage of data. I've no idea why the hoards of idjits are doing it but increasing block size just to accommodate them is a horrible idea. Cause the fee system is flawed and they are attacking the flaws. 2 big pools that do not pay fees to miners is all you need to this attack. They do not need the ordinals BRC20 shit to do it. Simply send 0.0000050 enough and pay 1 sat per byte since you control your pool take those first you can greenlight 1 sat per byte. Fill 60% of every block. The remain 20% people pay big fees 500sats 400 sats 300sats. So 40% of 500 = 200 sats. 60 percent of 1 = .6 sats the block averages to 200.6 sat fee you and the other big pool earn 50% of the blocks you get ½ your fees you paid back but you get ½ of the high fees back = big money manipulation and profits. also it will drive btc price downwards as who wants to pay 500 sats a byte. |
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Current Pace: 90.1085% (387 / 429.48 expected, 42.48 behind) Probably this pace is the last thing some waiting for 10sat/b fees to confirm wanted on this weekend. I have not been following the diff changes much, I am now more interested in watching the block fees, block fees have been above 5 BTC for a while now, block 788685 generated 12.38 BTC in rewards, that's insane. Current fees are 500 sats/Vbyte, you are looking at $20 for an average transaction, I don't recall seeing anything like this for a couple of years now. 37% of today's transactions were non-BRC-20 and non-Ordinals, which also suggests that there are enough "normal" BTC users who are willing to pay a premium to have a transaction stored on the main blockchain which so happens to be the most secure blockchain on planet earth, of course, someone who got used to paying 1 sat/Vbyte won't like what they see, but anyway, I doubt this will last forever, but it's possible that the days of 1 sat/Vbyte are gone, if these NFTs/Ordinals are here to stay, I believe they will set the new minimum to at least 5x or 10x of it used to be before they show up. It will likely drive btc price down a lot. But if blocks stay at 9-10btc and price is 22000 miners will do fine. via btc is paying over 9 cents a th. so the watts per dollar = really good even with price at 27.9k https://www.blockchain.com/explorer/blocks/btc?page=1788767 - 6.11 788766 - 6.72 788765 - 5.79 788764 - 6.46 788763 - 7.02 788762 - 6.59 788761 - 6.05 788760 - 6.66 788759 - 3.99 788758 - 2.85 all the way to 788703 which was a zero fee block 64 in a row. average over 4 in fees amazing exploit. pay 80% of the tx at 1 sat clog the blockchain losing 0.08 btc shut off 100mega watts in your mining gear losing more btc but you drive the fees up to 4 btc and if you do not pay fees your pool scores tons of btc from other people willing to pay high fees. |
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PEPE is such an obvious scam its not even funny. When do you guys think the rugpull will be? This month or next?
who cares i wont be buying any of it. |
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mining earnings to the mother facing moon.
Don't know how long this will last but I will take while I can.
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I didn't think I could but after reading your post, I looked into it and if I can prove it was stolen, I can change it! I'm going to go to Service Canada first thing Monday with my letter and try. Thanks for prompting me  That's alright, I was mainly curious. I feel like it should be allowed, if you can prove your social security number has been breached, and not just changing it for another reason, just in case it can be abused by people somehow. I wish you the best of luck. found usa rules https://www.ssa.gov/pubs/EN-05-10064.pdf"Should you get a new Social Security number? If you’ve done all you can to fix the problems resulting from misuse of your Social Security number, and someone is still using your number, we may assign you a new number. You can’t get a new Social Security number: • If your Social Security card is lost or stolen, but there’s no evidence that someone is using your number. • To avoid the consequences of filing for bankruptcy. • If you intend to avoid the law or any legal responsibility. If you decide to apply for a new number, you’ll need to prove your identity, age, and U.S. citizenship or immigration status. For more information, ask for Your Social Security Number and Card (Publication Number 05-10002). You’ll also need to provide evidence that you’re having ongoing problems because of the misuse.Keep in mind that a new number probably won’t solve all your problems. This is because other governmental agencies (such as the IRS and state motor vehicle agencies) and private businesses (such as banks and credit reporting companies) will have records under your old number. Along with other personal information, credit reporting companies use the number to identify your credit record. So using a new number won’t guarantee you a fresh start. This is especially true if your other personal information, such as your name and address, remains the same. If you receive a new Social Security number, you shouldn’t use the old number anymore. For some victims of identity theft, a new number actually creates new problems. If the old credit information isn’t associated with your new number, the absence of any credit history under your new number may make it more difficult for you to get credit." So basically in my case since no known crime is being done with my stolen info they will not do anything. But if someone tries to become me and commits a crime I could get a new one. As I mentioned no one I know via any search of many kinds has my exact full name which is likely why they have yet to attempt using my stolen info. I would love to have the breached companies pay me back for the discover insurance I have used. Seems fair |
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And why isn't there unity to fork bitcoin and increase the block size? There was a Bitcoin Cash fork from Bitmain, that owns Antpool and BTC.com, with aim to increase block size and get rid of stuck transactions, however, people here hate BCH and don't support it, what's the reason?
BCH has 8MB blocksize while BTC has 1MB. If you increase blocksize, considering all the blocks will be filled, it will cost more to run a node which will create less interest in running a full node. The more nodes you have, the more decentralized network it is. Since a node has no monetary gain, people wouldn't voluntarily spend a lot of money to run a node. If people spend tens of dollars in every transaction fees, will they really hesitate to buy a cheap brand new 4TB HDD for $40? Also, do we live in 2010 or 2016? Technology is advancing, things are getting affordable, so I don't see the problem in increased storage. By the way, you can use HDD instead of SSD and your costs will dramatically decrease. To be honest, people who run bitcoin node, do so because they support bitcoin and want something truly decentralized, $50 can't push them to change their mind. And even if new person wants to run node, most likely storage won't be an issue, there are a lot of people who have terabytes of storage on personal computers. Apart from that, it will lower the profit for miners too if I understand correctly. If the profit becomes lower for the miner, the number of miners will be decreased, and again, as philipma1957 said, will be easier to manipulate the fee. Maybe with fewer miners than right now we have, you may see no more 1sat/byte tx because it will be easier to manipulate the fee.
Halving lowers the profit for miners but that doesn't mean that halving is unnecessary. When profit becomes lower but the support remains the same or increases, price increases too. You completely ignore the fact that high transaction fee is something that pushes a lot of people to use altcoins for transactions. This affects the bitcoin and its adoption very negatively. It is hard to explain that halfing will become destructive to btc. but here goes. reward ——-fee————-price 50btc. ——-0.05————0 to maybe 12 bucks 25btc ———0.1—————80 to 1300 12.5 ———- 0.1 to 2 ———400 to 19000 6.25 ————0.1 to 2 ——— 3000 to 69000 look at reward to fee ratios maybe 1000 to 1 when price was 0 to 12 bucks maybe 250 to 1 when price was 80 to 1300 bucks maybe 125 to to some times 6 to 1 when price was 400 to 19000 maybe 62 to some times 3 to 1 when price was 3000 to 69000 the ½ ing is causing a clear reward to fee ratio issue this issue is yet to be solved. project 2024 maybe 3 to 2 ratio reward to fees when fees go high 2028 maybe 1.5 to 2 ratio reward to fees 2032. maybe .75 to 2 ratio reward to fees with more and more incentive for large pools to clog the blocks. remember they mine the blocks and they keep the fees.so if they flood the blocks with crap 💩 they are not paying full price. they grab the fees. that they paid to jack the fees and they grab everyone elses fees that have to pay to move coin. |
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Looks like Russia and India could cut a deal.
oil/crude
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Kazakhstan is a well known bitcoin hub alongside countries like China and USA the country is a top ranked bitcoin mining country, they contributed to 13.22% of total bitcoin hash rate in January 2022. Same year, 2022, they passed a bill and made an increase on the electricity fee for bitcoin miners, which skyrocketed from $0.0023 per Kwh to $0.01. As of 2022 the country Kazakhstan generated 7 million dollars from bitcoin miners; 1.5 million in the first quarter. Hence, the fee is low for miners that use renewable energy; green energy. But, that doesn't work well on bitcoin mining. How can bitcoin miners settle the high rate of electricity bills channeled to them? Is it affecting bitcoin transaction fee? https://cointelegraph.com/news/kazakhstan-collected-7m-in-crypto-mining-taxes-in-2022$0.01 USD PER kwatt is cheap not sure what the complaint is. I read you link and I can't find the power cost per kwatt. only the tax on the power per kwatt. so if the power cost was 0.02 + 0.0023 = 0.0223 and is now 0.02 + 0.01 = 0.030 the miners should shut the fuck up and be happy to pay that. But the actual numbers are not in the article |
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Biggest is only 192629 bytes - only 6 above 180000 bytes, so they must be mostly '1' address transactions, not NFTs
For now, I believe most Ordinals users have been efficient in making their transactions by paying only 1 to 3 SATs per byte, just as how Bitcoin should be if all of the participants in the network are rational. Plus any theories why mining power has been reaching ATH every month for the year? Many people will say that "the miners follow the price". But I have another theory, "the miners are also speculators". Some miners are probably mining Bitcoin to currently HODL and wait for a better price? . I am a small commercial farmer maybe 160kwatts. I mine multiple coins and hodl profits. At current prices the only way I spend BTC is buying new gear to grow the mine. Even though btc price is meh gear prices dropped. So using low priced btc to buy low priced ming gear is good. If not hold the btc.  That's bullish coming from a person who knows the idiosyncrasies of the Bitcoin ecosystem. Plus what do the large mining farm operators know that they would be prepared to invest more money to increase hashing power if it's not another surge for Bitcoin and the super cycle? If the miners are mining and HODLing more, mere plebs should also start buying and HODLing more. yeah new jump soon https://www.bitrawr.com/difficulty-estimatorLatest Block: 788253 (23 minutes ago) Current Pace: 98.4623% (2014 / 2045.45 expected, 31.45 behind)Previous Difficulty: 47887764338536.25 Current Difficulty: 48712405953118.43 Next Difficulty: between 47976234808667 and 47976235522250 Next Difficulty Change: between -1.5113% and -1.5113% Previous Retarget: April 20, 2023 at 5:52 AM (+1.7220%) Next Retarget (earliest): Today at 11:06 AM (in 0d 0h 20m 18s) Next Retarget (latest): Today at 11:06 AM (in 0d 0h 20m 18s) Projected Epoch Length: between 14d 5h 14m 50s and 14d 5h 14m 50s Copy stats to clipboard Shower-thought, what if there's a sanctioned country that drills/produces a lot of Crude Oil, but it can't export it, or it's forced to export it at a large discount "because sanctions", THEN it discovered the feasibility that it can use its Oil outputs to produce the electricity to mine Bitcoin themselves and sell them at a larger profit vs. if they merely exported it as Oil. Could that actually happen? Not sure, as crude burns shitty needs to become at least diesel. So building a refinery has to cost $$. https://www.cer-rec.gc.ca/en/data-analysis/energy-markets/market-snapshots/2018/market-snapshot-how-does-refinery-turn-crude-oil-into-products-like-gasoline-diesel.htmlhttps://www.quora.com/Is-it-possible-to-use-crude-oil-in-a-diesel-generatorand maybe this helps https://www.iqpc.com/media/7791/11215.pdf |
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I got a letter today telling me the bad news. Fuck. They're offering 2 years of identity theft protection services but what good is that when my Social Insurance Number is forever? I don't have much with Mackenzie but the first thing I do will be to move it out... I'm thinking Bitcoin.
Can you not change your social insurance number? I guess it would be a pain in the arse to change it everywhere, but I'd hope they'd have something in place to secure people who have had their data breached. I didn't think I could but after reading your post, I looked into it and if I can prove it was stolen, I can change it! I'm going to go to Service Canada first thing Monday with my letter and try. Thanks for prompting me Canada once again better than the USA ! Well, I don't want to get my cart ahead of my horse but I'll keep my fingers crossed. please keep us informed. I would be interested to see if you can get it done. I will check on my US SSN again. I know there are no attacks on it so far, but it is stolen and it was passed around on the dark web. I think the only thing helping me is my name is one of a kind. I am a reverse of John Smith. I have never found anyone anywhere with my name. |
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I got a letter today telling me the bad news. Fuck. They're offering 2 years of identity theft protection services but what good is that when my Social Insurance Number is forever? I don't have much with Mackenzie but the first thing I do will be to move it out... I'm thinking Bitcoin.
Can you not change your social insurance number? I guess it would be a pain in the arse to change it everywhere, but I'd hope they'd have something in place to secure people who have had their data breached. I didn't think I could but after reading your post, I looked into it and if I can prove it was stolen, I can change it! I'm going to go to Service Canada first thing Monday with my letter and try. Thanks for prompting me Canada once again better than the USA ! |
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I got a letter today telling me the bad news. Fuck. They're offering 2 years of identity theft protection services but what good is that when my Social Insurance Number is forever? I don't have much with Mackenzie but the first thing I do will be to move it out... I'm thinking Bitcoin.
Can you not change your social insurance number? I guess it would be a pain in the arse to change it everywhere, but I'd hope they'd have something in place to secure people who have had their data breached. Nope it is a fucked up system. Because I have been breach I think six times I pay 20$ a month for a monitor and for insurance if theft happens. The cocksuckers that get breached never offer lifetime coverage at any monitor they give one or two or three year at most. This year a hospital I had a hernia operation at was breached. Along with western digital website. So my medical, my social, my address, my date of birth and 2 CC's are leaked. I use Discovercard's service as it has $1,000,000 insurance cost is 15 or 20 a month. Discover Identity Theft Protection Resolution Support Call 1-800-347-3089 if you suspect fraud. You'll be assigned a dedicated specialist Up to $1 Million of Identity Theft Insurance* to help cover certain out-of-pocket expenses. Note all above is from Discover website. I have been paying the 15 monthly ( I checked) for over 20 years. I used Citibanks' but Switched to discover. so 240 x 15 = 3600 +. this is my biggest CC cost as I never or almost never pay CC interest. I also get back 1000's in rebates yearly. |
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https://toronto.ctvnews.ca/data-breach-exposes-clients-personal-information-at-one-of-canada-s-largest-investment-firms-1.6381707" Data breach exposes clients' personal information at one of Canada's largest investment firms Clients’ names, social insurance numbers and personal addresses were part of a data breach at one of Canada’s largest investment firms.
Toronto-based Mackenzie Investments confirmed to CTV News Toronto on Wednesday that a third party vendor, InvestorCOM Inc., was compromised by a cyber security incident related to data transfer supplier GoAnywhere...
...Hackers took advantage of a zero-day vulnerability in GoAnywhere’s file transfer system and accessed customers’ data at the end of January, according to the company. Organizations around the world were impacted by the ransomware attack, including Proctor and Gamble, Rubrik, and the City of Toronto... I got a letter today telling me the bad news. Fuck. They're offering 2 years of identity theft protection services but what good is that when my Social Insurance Number is forever? I don't have much with Mackenzie but the first thing I do will be to move it out... I'm thinking Bitcoin. yeah 2 notices from 2 companies on this today |
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I am looking for a strong fall fingers crossed that I am correct |
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You guys don't understand the problem is BTC has a fee structure that is ripe to exploit. I wrote a thread on one way a major pool can do it years ago. You are watching it in action disguised as ordinals. https://bitcointalk.org/index.php?topic=2634505.0you are seeing a variation of my thread above. If I am a major pool getting 30% of the blocks I can boost the fees and profit by it. fees were about 0.15 btc a block they are now 10x 1.50 a block. foundry and ant pool can do it and make a profit . They pull 50% of the blocks. so pay coins to jack fees and collect the higher fees. if fees were .15 and fees are now 1.5 you went from .15 x 144 = 21.6 coins in fees to 1.5 x 144 = 216 coins in fees every day of which they collect 50% of those extra fees forcing the other people to pay more. best of all they do not need to spend a lot to crowd out other transactions. they cut a deal and allow a deal to someone to pay say 1 sat per byte to fill blocks they shut some of their own miners down and boom 1-2 coin fees per blocks. They actually turn a profit doing it. Fee structure is still flawed and no good effort has happen to fix it yet. And here is a clue banning ordinals and nfts will not fix the issue. |
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Look at this Transaction[1]. It paid 15x more than it was necessary to get confirmation. It paid $38.77 in fees for transaction that worth $180. If you have a look at old transactions of this wallet, it was always paying optimal fees. I don't really know what happened there, while it paid 5x more than recommended, actually $10.56 was spent in fees while transacted amount was $1.41, check: Transaction[2]And here - Transaction[3], someone even paid 56x more. Is this done on purpose by some miners to increase the overall transaction fees and collect more fees?Edit: I had to open this thread on Bitcoin Technical Support board, sorry  . first off you don't understand miners at all if you need to ask that question. I have a thread that explains how major pool operators can jack fees up and still make money do in. You need to have control of 30% of the network to do the manipulation I explained in the thread. https://bitcointalk.org/index.php?topic=2634505.0Now why a person is willing to pay the fees you found I don't know. I do know why these fees are fairly high and will continue to be high. BTC has a flawed fee setup that can be manipulated. Thank you very much for linking that explanation. So, is that the reason why we can't make a bitcoin fork and increase the block size? Since it requires adoption by every active, significant full node and definitely Antpool and btc.com won't support it and this is a deal breaker here, right? But at the same time Antpool was one that made a btc fork and increased block size, then called it Bitcoin Cash but simultaneously, people don't support bitcoin cash. It's a little bit strange. that thread is a bit old but still has value. I have been so busy mining and to explain in full detail about how some of those ideas and other ideas can be used to explain how fees can be twisted and distorted would take me weeks to do the thread. To give some explanations of the lack of balance in the fee structure and how we stand today. vs 2014 or 2016 or 2018 or 2020. Bottom line is the fee setup is subject to attack at little or no cost if any major pool gets involved in the attack. I am a small commercial miner maybe 160kwatts of gear which is a drop in the bucket. But if you have 100 megawatts and work with a large pool with a few other big mines you can really do a whole lot to move fees from 0.15 btc a block last year to 1.50 btc a block now. I do think this is happening now. But I also think it means we are about to see a large btc price increase. As this super sized blocks seem to happen in the beginning of bull runs. |
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Dudes and dudettes the fed is rubbing its hands and going mo ha ha. https://tenor.com/view/burning-hell-muahaha-evil-laugh-gif-10739654no pivot for you or is it no soup for you "soup nazi" Seinfeld Sept may be the pivot. we have June .............13-14 July .............25-26 September ....19-20 this is the pivot maybe and the rally will commence at least 45k asap once pivot happens. |
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Look at this Transaction[1]. It paid 15x more than it was necessary to get confirmation. It paid $38.77 in fees for transaction that worth $180. If you have a look at old transactions of this wallet, it was always paying optimal fees. I don't really know what happened there, while it paid 5x more than recommended, actually $10.56 was spent in fees while transacted amount was $1.41, check: Transaction[2]And here - Transaction[3], someone even paid 56x more. Is this done on purpose by some miners to increase the overall transaction fees and collect more fees?Edit: I had to open this thread on Bitcoin Technical Support board, sorry . first off you don't understand miners at all if you need to ask that question. I have a thread that explains how major pool operators can jack fees up and still make money do in. You need to have control of 30% of the network to do the manipulation I explained in the thread. https://bitcointalk.org/index.php?topic=2634505.0Now why a person is willing to pay the fees you found I don't know. I do know why these fees are fairly high and will continue to be high. BTC has a flawed fee setup that can be manipulated. |
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I ordered a pair of 118th m50 units today.
When I fire them up I will post some shots.
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