i am afraid changing PoW algorithm is not going to change anything in the long term. as long as bitcoin is being mined, it is going to be mined by some equipment. it is called ASICs that are designed to mine the current algorithms. if you change that, there is nothing stopping the same people to change their ASICs to mine the new algorithm.
unless you can physically restrict one person from having more than 1% of hashrate, in the end there will always be someone who is willing to invest more and have more mining equipment and have more hashrate.
in my opinion, the only way to fight that is to get more miners with more hashrate to join the network to reduce their (for example bitmain's) percentage of hashrate.
Exactly right look at Etheruem. They laid claim it was asic resistant. Well nothing is asic proof given it’s value increases enough. Most are just cost prohibited. Don’t be fooled by this bs. Just another alt trying to leach into btc name. If the price increases enough asic is made bottom line end of story. Be done with now and move along. So tired of the “debates” taking way longer than necessary. Do your homework people. Once you do that debate isn’t necessary. BR This. The free market is already correcting the problem. As more manufacturers step up to the plate, competition increases, bitmains grip will fade. Look at ebang teaming with samsung for a 10nm machine. What else will happen this year that we can't even guess at? Things are already in motion. The invisible hand is moving slowly to fix things. All we have to do is sit back and watch it unfold. |
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Ban it? No. Regulate it, tax it? Yeah, that's them.
First spread fud about it, as if it were any more risky than trading government approved btc futures and etfs.
Then step in to regulate it, for your own good of course.
Then comes the taxman.
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The current "crash" is caused by one bad "news" after another. A lot of them are the false or twisted truth. For example, today, once again "China Full ban crypto". What the... Why is it causing another crash?? Why is it even "news"? It was already banned in China back in September 2017. All trading platforms suspended trading in September. Anyone from China who still trade Crypto must be using foreign platforms. Sure, they reported that China added all crypto exchange sites to Great FireWall. So what? These people have VPNs! When I was in China, everyone who visits foreign sites use VPNs. Yes, China banned VPN as well a long time ago. So what? Everyone is still using it. Just like ignoring the traffic light is illegal in China, but at every intersection, you will see people ignore the red lights... the truth! Just because it is "illegal", does not mean no one will do it. So just this (one) news of China banned Crypto, it was repeatedly used to crash the Crypto market (4 or 5 times). Do not fall for it! 1. Summer 2017, China banned ICO. 2. September 2017, China banned crypto trading. 3. November or December? China became unfriendly to crypto mining (Large-scale miners moved oversea already) 4. January 2018. China banned websites of foreign crypto exchanges. (VPN!!!) 5. Today, "China Full Ban Crypto"... (Really?) So what is next? "China really ban crypto"? "China really full ban crypto"? "China really really full ban crypto"  "China will jail anyone who trades crypto" "China will execute anyone who trades crypto"? "China will nuke every country who trade crypto" ?? Stop spreading this nonsense. What's done was already done in September 2017. Nothing has changed ever since. NOTHING really changed in the last 4~5 months. Yellow journalism at its best. Same goes for Korean and Indian news. South Korea did not really ban crypto. Just one guy wanted to ban it. It was not approved, nor implemented. So far they have only added regulations that people can no longer trade anonymously. So what? Didn't Coinbase, Kraken, Bittrex etc. US-based platforms all require our IDs and photos? India also did not ban crypto. Just a minister made some unfriendly speech toward crypto. No real "ban" whatsoever. From the look of it, someone or some groups are trying hard to make the prices go down. The sad thing is, people are falling for it. The same China "news" was used on 5 occasions to cause the market crash while nothing was really changed or happened. Korean news was used on at least 2 occasions. The bottom line is, let's just ignore all the stupid "news". Use our brains. Not hearsay from yellow journalism. It is getting annoying to have every little "news" to impact the market price. Yes,we must stop or avoiding fake news about bitcoin unless the bitcoin owners is will be the one who says that it's over!not all news are true,there is sometimes that it is not true so it is better to know the real truth first than to do something that you will going to regret someday.don't make a decission that you are not really sure... You're almost right. It's organized, intentional, a fud campaign by nefarious actors with bad intent. But it's not what you think. These people don't want to swing the market and make a few million. They want it all. Total Power and control. Once they have it, markets will dance when they say and lay down when they want. And they will get a piece of all of it. Who does something like that? The US Government. |
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yeah I'm with the skeptics. I'm not saying it didn't happen, but it didn't happen.
I'm sure it could happen. Maybe it did happen, to someone else, and he just plagiarized it.
Generally, the noob pays by credit card and never gets the btc, not the other way around, but I'm sure it goes both ways on occasion.
Bitcoin people don't sell by credit card very much. They use the exchanges. Noobs don't know how to do that or they aren't set up for it yet.
The exchanges take credit cards, they take the risk, the btc seller is not at risk.
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People want to get rich quick, but 5 years IS QUICK!
It will be five years from now before you know it.
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Was there any kind of event? Did it get hot, was there a storm or power outage, or did it just quit?
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I'm feeling like there should to come new "S9", like there was jump from S7 to S9...4th > 13-14TH... S9 is becoming obsolete..Unless you have free electricity...Or Bitcoin jumps...But you can't just wait for it to jump...Difficulty is increasing enormous speed...And new Dragonmint...is ONLY 2TH better then S9...We need crazy jump in tech again  There won't be a big jump anytime soon. The reason we had a big jump form S7 to S9 was that S7 was using 28nm chipset in 2015. And in 2015 we already had commercial production of even up to 14nm. But right now S9 is using 16nm which is pretty much the bottleneck. The next step is 10nm and that is barely getting into commercial production today and when it does the foundries will be booked by giants like Apple and Samsung for some time. So S9 is here to stay for at-least another year or two. you can increase the hashrate by liquid cooling, better design, etc etc. But won't be anything like the S7 to S9 This is incorrect. The ebang ebit has already been delivered, it's using 10nm chips from Samsung, but it's still only an 18T/Hs machine for around 5k USD, so it's not really the game changer I expected it to be. |
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Are you getting paid for that? For instance, the article about Arcblock, does Arcblock pay you for that?
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My 1080ti, 2x 1080 and 1070 made 12 euro during the last 24 hours.
12 euros.. That's almost next to nothing when substracting the power and transaction costs.
I'm shutting down my miner for a few weeks. Is anyone else taking these drastic measurements, or am I the only one?
I must confess that I don't believe BTC will go up again soon... (sorry to the believers here, no disrespect intended).
Did you shut down for a while? If you didn't, did you sell your coins cheap? I guess my point is, look how fast things change! If you kept mining, and held your coins until now, you would have made just as much money as if the coins had never dropped in the first place. |
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I've owned zcl for awhile now - pre bitcoin private. I find it amusing it's mooning now b/c of bitcoin private but happy it is. Can someone please enlighten me why btcp is better than XMR or ZEC, or any other zk-snark coin -- like bitcoinZ. Be objective.
bitcoinZ is equihash, I believe btcp will be sha256 with zk-snarks combining both in a way that is new. Maybe it's been done before and I just don't know it. Thanks. That's not much of a difference and I suppose it's preference. Yet, I wonder what will happen to ZCL come the snapshot. There are also too many forks off of BTC -- granted, this one seems to be getting a decent amount of coverage. We'll see if it gets dumped. I fully expect zclassic to be worthless after the hard fork, in fact, I'm planning on it. But that's just me, nobody ever knows for sure. |
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I say it is "bricked" because it is basically useless at the moment. It stays in a constant reboot cycle. It never starts mining before it reboots, but I can get to the various web pages for about 1 minute. I believe I have time to download firmware to it before it reboots, but don't have the right firmware file. All I have and can seem to get is for an E9+. I have read through all the posts here and it seems the only firmware ever discussed is for the E9+, never the E9. Any idea where to get it? There is obviously no support forthcoming from the a$$holes at eBit.
Thanks
Something else must be wrong as the latest update works for both the regular e9 and the e9+ - an important thing to keep in mind as I sold mine, and then had it returned as it would not connect or begin mining is that baidu thing brought up early on in the thread. - I believe that if it "thinks" you are mining from a location that was not the original purchaser's location (even if you ARE that person) it kills it. so FIRST try to put that address in your hosts file (can't remember it now) and 127.0.0.1 on the computer that you are using to reach the web interface.. THEN even if it is in chinese switch to the other bank, hard reset (shutdown psu) then after getting it back up, see if it still refuses to connect to the internet. Not 100% sure on how to trick it into thinking it was in the original location if that is what it needs, but I'm pretty sure it gets location data from the pc you are connecting with not the miner. disclaimer: I'm not truly clear on if this will work, I only know that when the guy mailed back the miner it worked on my end. the rest is my guess as to what is going on. If it doesn't work, holler at me and I'll see if I can't figure out some other way. secondary would be to see if you can't get someone who has worked out firmware that let's them in to ssh - I'm sure a few people somewhere have copies. (side note if anyone has one with xnsub and ssh access I'm looking hehe.) So basically selling is questionable, which is pure loss. Somebody sold me a gimpy 9t on ebag, it works sort of, pretty sure it's not location related. It might even be a 6.5t, in which case it's running fine. Highest I've seen it go was 7Ts for a whole day once, but that could be normal fluctuations. You could sell yours, but if you don't disclose the problems you're probably screwing somebody somewhere. |
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I have no idea if true or not but it would not shock me. Consider: - Bitmain recently releasing previously unannounced blake miner with shipping within 10 days - Competition heating up in sha256 mining space so bitmain looking for new markets - Bitmain seems to be rolling out miners for new algos in blitzkrieg fashon - Would fit pattern of bitmain building asic chips for gpu algos - threats from dev teams to change hashing algos or switch to Proof of Stake does not deter them Where it ends I do not know. Actually, I do hope Bitmain release that ETH ASIC, as it would be a total game changer. It is totally not normal to pump for years the GPU production business, the stocks of ATI and NVIDIA skyrocket; on the other hand gaming business is declining as there are literally no video cards to be bought to play the latest top notch games. Today I also read this article on BBC News (seems legit) which is even more sad if it is true - lack of GPU hinders space research. https://twitter.com/coindesk/status/964039175686311938So - "Go Bitmain"... Nvidia cries in public about the miners buying up all the cards, but in private they high five each other and count their money. |
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Well this is intresting. What if Bitmain is the secret company who ordered chips from Samsung?  Up till now, a Taiwanese company, TSMC, has been the main producer of the ASIC chips for miners. Although GMO Internet from Japan has announced will be mass producing ASICs with 12nm and 7nm chips. Ebang got the samsung 10nm chips, the ebit 18T/Hs is already on peoples shelfs. GMO will be contract only, 5 million usd for 2 years, fees not yet disclosed. |
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I've owned zcl for awhile now - pre bitcoin private. I find it amusing it's mooning now b/c of bitcoin private but happy it is. Can someone please enlighten me why btcp is better than XMR or ZEC, or any other zk-snark coin -- like bitcoinZ. Be objective.
bitcoinZ is equihash, I believe btcp will be sha256 with zk-snarks combining both in a way that is new. Maybe it's been done before and I just don't know it. |
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I don't think people should be counting on an exchange wallet address to give them btcp at the fork. Get a wallet you control. Be sure.
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they've been available to order at bitmains website all week. Hasn't been like that in a long time.
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I don't think the haloongs will bring up the difficulty rating. I'm more concerned about big operations like bitfury hut 8. I do expect a new bitmain machine this year, as other posters have speculated. I still think haloong needs to get this thing out ASAP or they're going to miss their window. At those prices it's already a tough sell, if better tech keeps releasing they're going to be sitting on a release that would have been huge 6 months earlier.
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I came to this thread to read up on ucoin because it went way up. I'm as confused about it now as I was before. Crypto is truly the land of many different answers to the same question.
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I'm not counting anything not delivered as real, until people actually received ebits I wasn't counting them. Just like I'm not counting Haloong until some of you actually plug some in. Actual people have now taken actual possession of the ebit machines. They're in reality town. Of course I want more manufacturers, more competition. Who doesn't.
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I dont think many ppl sell their mined coins instantly. Atleast i hope they dont  When the market takes a dive you just dont sell the mined coins, we all know it will go back up again. I hate when ppl talk about "daily profits" etc in mining, becourse you sell on ATHs etc to get the most out of your mining. A lot of people I think prefer to take what they can get when they can get it especially those who are doing this to pay all their bills and need the liquidity. Quite a lot of alt coins are bad long term investments and everyone knows it. They don't want to get caught holding the bag so they get rid of it quickly. The unpredictability of it makes things difficult and you really need to know what you're doing to be able to know the difference between something that sounds great but has no real use case or long term value and something that does. A lot of people like myself here who just got started within the last few months and honestly don't know - so they tend to stick with nicehash or trading off what they mine immediately. I'm not smart enough to know what will take off, so I'm grabbing a thousand each of every new cheap thing that comes along. Most will be useless, but I only need one to take off. I don't see mining for daily/weekly income as a good plan, at least not for me. If I wasn't such a hoarder I could have made money on a bunch of things I'm holding, but then I wouldn't be holding them anymore. I like cheap coins because it's a lot more satisfying to get 60 etn than it is to get .00001 eth for some reason. And it's easy for a cheap coin to go up 5 cents, ten cents. A 20 cent coin at a thousand coins is still 200 dollars. At 25 cents it's 250. Of course, if you sold it at 6 cents, it's price when you mined it, you only get 60 dollars. I think even people chasing a weekly income should be holding thier mined coins, looking for the right spot to sell, don't just mindlessly cash out every week. It's not like it takes a long time, a 5 cent or ten cent coin can double in a week or two. |
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