This proposal won't fix the problem, it would just delay it, also, whatever issue you are describing is probably going to happen way before 2140, in 50-60 years at best the block rewards will be next to nothing, and then the incentives to mine BTC would be different.

As it stands today, all mining is done for the incentive of profit, but at that point in time, if transaction fees are too low to keep a reasonable hashrate on the network, a new incentive will be created, something like mining to "protect your assets".

It could also be something like "blockchain fee" that everyone who owns BTC and wants to secure it, must pay a small fee to protect the blockchain and thus protect their own assets/transactions.

The way that would work is unknown, it could be as simple as people mining at a loss to maintain the network or a protocol change that takes a certain % of all bitcoins in circulation and put it back to block rewards.

An example:

21,000,000 coins in circulation, let's say the target is to keep block rewards at 3 BTC per block, it means we need 157,680 BTC  a year, we could charge 0.75% "blockchain fees" per year and keep the network as secure as it will be next year when the block reward drops to  3.125 BTC.

In fact, depending on the fiat value (or whatever the representation of the electricity bill then) we could get away with 1 BTC block reward or even less, and still keep a high enough hashrate that makes the network more secure than it is today or even better, so that suggested fee could drop to below 0.25% a year or so, and it could be adjustable based on some variables.

Notice the above proposal does not increase the supply of BTC, it treats all BTC the same regardless of it's history/owners, and it does maintain a very good incentive to mining.

I am not sure if anyone has ever thought of such a proposal before, but it shouldn't be so uncommon, there could be many other proposals on how to fix that potential issue should BTC stay treated as a store of value and rarely transacted, people will find a way to solve it (we are likely not going to be there to witness it).

We have gone up quite a bit the last 2 days, the pace is approaching 100%


I agree with phill regarding the heatwave/s, the only logical reason as to why difficulty has stopped increasing as much for the past couple of weeks is due to the hot summer in major mining cities like Texas, if this continues, then august should be a flat month in terms of difficulty, as we approach September we should start climbing again, the usually 2-3% per epoch.

If those S19j pros are brand new, then they are pretty cheap compared to the market price, they sell for over 14$/th in the U.S depending on the quantity, if they are used, then they are right about the average.

The S19s (Non-Pro) are way cheaper, I have them for sale brand new in HK for 8.9$ /th + around 200$ for DDP shipping to the U.S, so you are looking at  930$-965$ in the U.S for the S19 82th and 86th version, for 10 PCs and above the prices would be lower (maybe 20-50$ per PC ) for 50+ qty you could get up to 100-120$ discount, sometimes, even more, quantity makes a huge difference.

Price list update 31/07/2023

Whatsminer:

Stock:

M30S++110TH  12.2U/TH currently out of stock
M50 118TH 29W    14.2U/TH
M50S 128TH 26W 19.1U/TH
M33s++ 225TH 31w 15U/TH currently out of stock
M53s++  280th-320TH 24W   24.2U/TH

Aug pre-order MOQ 30 pcs

M50S++  160th 21W  25.3U/TH

---

Antminer:

S19       82-86th          $8.9/T
S19pro 96-104th           $13.9/T
L7 9050m-9500m    $4450-$4980

** If your wanted quantity is 10 pcs or above, PM for discounted prices.

I have a whole dedicate thread regarding the temperature sensor on the 17 series, you fill find a lot of useful info in there.

But to give you a bit of a summary:

- The part number of the temp sensor is TMP451AIDQFR.
- It's most often a chip/solder issue on one of the chips rather than a temp sensor.
- if all temp sensors on all boards are acting weird then it's most likely a bad PSU.

I had a long 'terrible' experience with those gears, and as weird as it sounds, 90% of the issues are caused by bad contact between the chip and PCB, the medium temperature solder used on those gears is terrible, the robots/human beings who soldered the chips did a terrible job, you are guaranteed to fix the majority of the problems (regardless whether it shows a bad temp sensor or missing chip) by simply reflowing all the chips and making sure there are no solder balls built up on any of the chips and shorting the chip.

If you confirm that it's indeed an issue of bad temp senrsor/s, refer to my topic to know their exact locations, also here is a short video showing a replacement of those temp sensors

من المستحيل ان تقوم بريكس باعتماد البتكوين كويسلة للتبادل بينهم, وقم قام الاخوة بتعديد الكثير من الاسباب واضيف اليها سبب اخر وهوا طبيعة الدول المؤسسة, اكبر دولة في البريكس هي الصين وهي تحضر تعدين البتكوين وحتى التعامل به داخل الصين, كذلك الدول الاخرى المؤسسة ليست "صديقة" مع البتكوين او البلوكتشين بصفة عامة, تلك الدول يتخللها الطابع الشيوعي القمعي وتفتقد للتشريعات والقوانين التي تتيح للناس "الاعتراض" على ماتختاره الحكومة.

هل يمكن لشخص صيني ان يسب او يعترض على افعال الحزب الشيوعي الحاكم؟ هل يقدر احد في روسيا ان يرفض اوامر بوتين؟ والامر نفسه في جنوب افريقيا والبرازيل, من المستحيل ان تقوم تلك الدول بالاتجاه نحو اللامركزية, فهدفهم هوا ايجاد بديل للدولار يكون تحت تصرفهم وليس تحت تصرف المواطنين, لذلك الارجح هوا استعمال الذهب او احتى المعادن التي تمتلك منها الحكومات نصيب الاسد.

بالرغم من عنجهية الغرب الا ان فرصة توطين البتكوين في تلك الدول هي اكبر بكثير من فرصتها في شرق العالم.

Ya, I think FP91G is thinking within a very narrow aspect of "cost vs hashrate", given my power rate and space I would most likely not buy a USB a miner due to the cost per th, but say I moved to a small flat in a country where power is pretty expensive, I have no dedicated 220-20A circuit where I can run an industrial miner, no empty room to host the miner in the first place, or any other reason that deem using an industrial grade miner at home impossible, yet I want to still get a shot to find a block, then I would certainly buy a USB miner.

.

It is not just the profit vs cost, not sure how do i explain it better, you keep talking about noise boxes, have you tested them? Because I have and those not near as silent, the heat generated by 3*S9s will need some serious cooling, it is not easy to run an industrial mining gear like the S9 at home.

If we talking big scale, of course those USB miners are a bad option, way to expensive for their hashrate.    

Got confused between the S9j/i and S9K, you are right, the K version has 60 chips, since that is the case, it means there is a good chance the miner would run fine with that 3rd hashboard unplugged, he just needs to trace it, if the ribbon cables have not been changed before then it's likely to be the one to the most right, but should be easy to follow since hashboards are numbered on the control board.

It's worth mentioning that the S9ks are the second most terrible mining gears Bitmain has ever made, so I wouldn't count on this miner to work after all these years.

User code tag to post kernel log, it's very hard to find errors in the kernel log when it's put into a picture like that, but judging from the status page, it seems like all three boards are dead.

the S9k has 63 chips on each of the boards, your chain 1 and 2 show 60 chips each, and your chain 3 shows only 50, so no board is fully functioning which is why you get zero hashrate.

this is most likely a hardware failure, but it could also be something else, more info could be read on the kernel log if posted correctly like so.

The R606 can do 2.1th at 88w, i hear your argument but it is like saying instead of buying motorbike, it is cheaper to buy a truck, everything has it is own use case, some people want a simple plug-n-play solution they can insert into their PC or Raspi and off they go, that is totally different from buying an S9, doing all the modifications, getting a noise box (which won't reduce the noise to the point that you can sleep next to). 

Everything has its own use case, not everyone is a businessman or a large investor who can afford to build a large farm, it's easy to tell OP to ditch the USB miner and go build a 100MW farm with all M50s or S19 XPs and make a few million dollars in profit, ya that would be a lot better than a few cents a day, but then that would be dumb advice.

Something like R606 by GekkoScience does nearly 2th at 80w, costs next to nothing to run, and has an ok chance of hitting a block compared to an S9 that consumes 1000w and needs to be placed somewhere far so people can fall asleep, so for anyway who doesn't want to spend much on the power bill, run a silent small miner for a lottery, USB sticks are a great option. 

That's true, different times, different stories, but that doesn't mean the old stories are no longer good stories to be told, anyway, eventually at some point in the future when block rewards drop next to nothing, BTC becomes widely used, many home miners will mine BTCfor the sake of protecting their money, and possibly making a tiny little profit, there will be no room for all these large players then, just a small 10-20th USB sticks or smart light bulbs that maintain the network.

Unfortunately, just like in casinos where MOST people end up losing money given the statistical advantages the house has over the players, you can't label them as scammers, the same thing is true for cloud mining that is offered by "legit" companies like Bitmain, in other words, you could sue all those fake cloud mining companies who simply take your money and run, but I doubt you can do the same with Bitmain, Viabtc, any other company that doesn't just run away with your money.

They simply are counting on people's ignorance and greed, they know the math very well, and they know how to make a profit at the expense of those who don't, do I advice everyone against it? yes, can I say without a doubt that Binance, Viabtc, and all those folks are scammers? would be hard to prove in a court to be honest.

It has been three years for this topic, thought it would be a good idea to refresh it now that Binance is attempting the same indirect "scam" of cloud mining. I will quote myself here for all the realistic and possible scenarios that you will likely face if you buy cloud mining packages from Binance.


TL:DR, Cloud mining assuming it isn't a straightforward scam, is most likely going to make you lose money, it's extremely rare for the events that make it profitable to actually happen, and even if and ones they happen, you are very likely to not benefit from them.

There is a lot of confusion that one needs to clear before understanding how all of this works, it's best to start with some basic definitions of keywords, those keywords would be:

1- Random:

Source:https://pages.jh.edu/virtlab/course-info/ei/notes/uncertainty_notes.pdf

2. Probability:

Soruce:https://pages.jh.edu/virtlab/course-info/ei/notes/uncertainty_notes.pdf


Back you to question, the likelihood aka probability for a faster hashrate to get a higher share is HIGHER than that slower hashrate, but given that those are random events you can't be too sure that this will be the case unless measured against infinity, probably in a vacuum where nothing else could affect the probability of the events.

If you were to check the best share of two random miners, one with 10th and another with 100th, it's likely that the 100th will have a larger best share, it isn't exactly 50/50, because if you were to check 100 miners with 10th vs 100 miners with 100th you are a lot more likely to find higher best shares on the second group, if you check a sample of 1000 each, it's even more likely that the second group will have a better average best share, 1 million is even better, infinity is best (although one could argue that infinity doesn't exist in the first place  ).

Thinking about mining and shares could be confusing to most people, it would be better to just imagine a scenario where you go hunting with another person, both of you are blindfolded, and it's 3am, your gun fires 100 bullets a minute, his does 200 bullets a minute, every now and then a rabbit runs in front of you ( you can't see it, so skills here are ignored), so the two of you randomly fire 300 bullets at those poor rabbits, it's very possible that you could hit more rabbits than him in the first minute (Luck), but if you both keep shooting at the same pace for 1 hour, it's more likely that he would kill double the number of rabbits given that he takes more shots than you do (Probability).

Best share in our hunting example is like the "nearest shot to a rabbit you had so far" pretty meaningless when you are blindingly shooting at moving rabbits, it doesn't matter if your last shot was only 1cm or 1m away from the rabbit head, the rabbit is moving, your hands are shaking, it means exactly nothing because the following shots will not depend on that and are not affected by it or by any event that happened in the past, every shot you take is a completely independent event and has the exact same chances of hitting a rabbit as any other bullet that you fired or may fire in the future.

If block share is 1000, and a 1th miner has best share of 999 while 10th miner has only 10 best share, it doesn't change the fact that the second miners is 10 times more likely to hit a block than the first one.



 

Seems like an infected control bard, or damaged in the worst-case scenario, a very large percentage of used miners are infected with nightswitcher virus and likes of it, depending on how serious the virus is, it may or may not go with SD card flash, if the boatload is bad, no matter what you do, you won't be able to flash the firmware.

There are many things you could do, but the easiest would be to try and flash custom firmware, I suggest Vnish (AwesomeMiner or Asic.to), the result of the flashing process only would reveal some good info.

Alas, those usb sticks do up go tera range of hashes, way more powerful than the best gaming computer out there.


I am sure the guy that solved a block last year using a usb stick with disagree with your statement.

You all need to understand that those USB sticks are actually ASICs, just using a lot less chips.

I have to completely disagree here my friend, I believe every miner's story is different and has its own unique events, in fact, the same person could have different stories regarding different farms, every step is unique, I know people who started BIG and ended up losing everything, I know people who started with 2-3 S9s in their garage and now have a couple of hundred mining gears.

I have been mining, selling mining gears, and managing farms for many years now, while the end result of all the things I saw are pretty similar (success or failure at various degrees) the story of how they all started, evolved, got big or vanished are all different).


The problem gathering with mining stories is that most people who mine Bitcoin care so much about their privacy, they try not to reveal any information for so many security and privacy reasons.

Even running them for long enough is very likely to yield profit, but either way, let's run some math here:

Cost per th for 180 = 13.1580$
Estimated profit with both difficulty and price staying flat: 12.6$

Scenario 1: both stay flat > you lose
Scenario 2: difficulty gues up while price goes down  > You lose more
Scenario 3: difficulty stays flat while price goes up > You win (only if prices increases more than 4.25% for the average of the 180 days)

Scenario 4: difficulty goes down while price goes up > you win more

so in 2/4 you could win, although the conditions needed to win are less likely to happen, especially the difficulty part, it just doesn't go down, so it's more like 30% chances of winning at best.

All the above is in respect to fiat, let's run the same thing in respect to BTC.

---

Cost per th for 180 = 0.0004464BTC
Estimated profit with both difficulty and price staying flat: 0.0004274 BTC

Scenario 1: both stay flat > You lose
Scenario 2: difficulty goes up while price goes down  > You lose more
Scenario 3: difficulty stays flat while price goes up > You lose
Scenario 4: difficulty goes down while price goes up > you win (only if difficulty drops more than 4.25% for the average of the 180 days)

1/4 you could win, but only if difficulty drops more than 4.25%, is that impossible? nop, is it very unlikely? indeed?

So you are going to need to be very , very lucky to end up winning anything out of this.

I think Binance could be setting up a trap for the naive folks with its 180 days packages, anyone who buys the package =<180 to the halving will certainly end up losing despite any condition.


Oh ya, not to mention that in the rare event of difficulty dropping and packages start actually yielding profits, Bitmain could just end the deal as that isn't against the agreement you have to sign.