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881  Bitcoin / Development & Technical Discussion / Re: Running bitcoin node with LN hub on a Raspberry Pi 3 on: February 25, 2018, 02:22:19 PM
Thanks bob123, the direct download worked at the end:

So I've just managed to install the necessary GO languange on the Raspberry PI, using these guides (had to combine them to get it to work, but at last it works...)
https://tecadmin.net/install-go-on-debian/#
https://stackoverflow.com/questions/48348262/install-go-golang-on-raspbian

To make it easier for you, here are the steps:
1)
Code:
sudo apt-get update
sudo apt-get -y upgrade
2)
Code:
wget https://dl.google.com/go/go1.10.linux-armv6l.tar.gz

make sure you download the arm version for the Raspberry

3)
install an old version of GO

Code:
sudo apt-get install golang

this will install the 1.7 version, which is not good for us yet

4)
Uncompress the previously downloaded 1.10 version into your (pi) home directory

Code:
sudo tar -C /home/pi -xzf go1.10.linux-armv6l.tar.gz

5)
remove the old golang installation

Code:
sudo apt remove golang

remove the other unnecessary stuff after removing the old golang

Code:
sudo apt-get autoremove

6)
edit your .profile
insert these lines to let the system found your go language installation

Code:
export GOROOT=/home/pi/go
export GOPATH=$HOME/projects
export PATH=$GOPATH/bin:$GOROOT/bin:$PATH

7)
log out and log in again
check the version and the environment of your installed GO, should look like this:

Code:
go version
go version go1.10 linux/arm

Code:
go env
GOARCH="arm"
GOBIN=""
GOCACHE="/home/pi/.cache/go-build"
GOEXE=""
GOHOSTARCH="arm"
GOHOSTOS="linux"
GOOS="linux"
GOPATH="/home/pi/projects"
GORACE=""
GOROOT="/home/pi/go"
GOTMPDIR=""
GOTOOLDIR="/home/pi/go/pkg/tool/linux_arm"
GCCGO="gccgo"
GOARM="6"
CC="gcc"
CXX="g++"
CGO_ENABLED="1"
CGO_CFLAGS="-g -O2"
CGO_CPPFLAGS=""
CGO_CXXFLAGS="-g -O2"
CGO_FFLAGS="-g -O2"
CGO_LDFLAGS="-g -O2"
PKG_CONFIG="pkg-config"
GOGCCFLAGS="-fPIC -marm -pthread -fmessage-length=0 -fdebug-prefix-map=/tmp/go-b                                                                                                 uild470418061=/tmp/go-build -gno-record-gcc-switches"

That's all Smiley

Now moving towards to lnd installation...

Just another tip:
If you're on a fresh installation of Raspbian, you won't have the 'git' to use the golang's built-in downloader part, to be able to install Glide, which is also necessary.
So to get this command working:

Code:
go get -u github.com/Masterminds/glide

you will need this:

Code:
sudo apt-get install git

After this, you can start downloading Glide with the above mentioned command
When it's done, you'll find Glide in the GOPATH/bin
882  Bitcoin / Development & Technical Discussion / Re: Running bitcoin node with LN hub on a Raspberry Pi 3 on: February 24, 2018, 09:21:15 PM
Next status update:
I've just managed to set up the Raspberry PI 3 with a working minimal OS, but nothing installed which is connected with bitcoin.
Now I've decided to run a neutrino lightweight node to let the lnd connect to it because it doesn't require a full node running locally.
So I was about to install the lnd on the raspberry but failed with the GO language, which is a must to have lnd installed.
I was following this guide:
https://github.com/lightningnetwork/lnd/blob/master/docs/INSTALL.md
When I started to intall GO:
Code:
sudo apt-get install golang-1.10-go
I had an error message:
Code:
Reading package lists... Done
Building dependency tree
Reading state information... Done
E: Unable to locate package golang-1.10-go
E: Couldn't find any package by glob 'golang-1.10-go'
E: Couldn't find any package by regex 'golang-1.10-go'
So I read a bit, and found that for the raspberry linux, we only have go 1.8 available, which is OK for lnd, because 1.8 is the minimal required version of GO.
So I was about to install the 1.8 GO but no success:
Code:
sudo apt-get install golang-1.8-go
Reading package lists... Done
Building dependency tree
Reading state information... Done
Package golang-1.8-go is not available, but is referred to by another package.
This may mean that the package is missing, has been obsoleted, or
is only available from another source

E: Package 'golang-1.8-go' has no installation candidate
So now I'm searching for a workaround to be able to install GO on the raspberry to be able to continue the installation of lnd...

883  Bitcoin / Bitcoin Discussion / Re: I am looking for a Bitcoin / Altcoin Debit Card on: February 24, 2018, 06:52:13 PM
Debit cards for bitcoin or also for altcoins are very difficult, it is available only in some places of developed countries such as western countries.

Do you know of any besides the CENTRA CARD? I am currently looking for solutions. I live in Europe and need a solution otherwise I am going to have to go to something like local bitcoins. I sent a support ticket to CENTRA to find out how to use the app and card as I am techically very impaired with mobile and apps at present, I am clueless.
I'm also interested in a bitcoin debit card, after the WaveCrest shutdown (XAPO and other debit card's card issuer company, VISA has banned them). I'll take a look the above mentioned Centra Card, but I have only a little hope, because last time I made a comaprison, there were just a few available in EUR currency...
https://bitcointalk.org/index.php?topic=2907567.msg29946039#msg29946039
884  Bitcoin / Bitcoin Discussion / Re: 5$ DIY Bitcoin wallet : pitrezor on: February 24, 2018, 01:19:43 PM
Hi Bitcoin fans!

I ported the code of the Bitcoin trezor wallet to Linux to be able to run it on a raspberry pi zero. The raspberry pi zero is a very popular, small and cheap computer that is available for approximately 5$. The choice of the pi zero is interesting because it can be used as a usb device when plugged on a host computer.

This allow anybody to build its own hardware wallet at a very low cost with a good level security if used with a pass phrase.

All the instructions to build it are on my blog here:

https://www.pitrezor.com

On my site I explain how to assemble the buttons like the real trezor and connect an oled display. The oled is optional because I also support the hdmi output of the pi zero directly.

The software image is ready to download and flash on an SD Card. The Linux image is based on Yocto which allowed me to build a very minimal Linux system with only the bare minimum softwares to run my application. All code modifications are public and the software image can easily be rebuild (with docker).

Yannick
Hi yheneaul,
it's really impressive that you were able to do this development.
On the other hand, (and sorry to say, but) I would never trust any solution that's not the original, and it's not coming from the manufacturer's webshop directly, and that's a pity for amazon and ebay and for the others.... (but that's just me)
Wallets are the security storages of the coins (OK, I know they're only store the private keys), so if I have to deal with secure stuff, I'll buy the original.
What is the reason people buy Trezor, Ledger Nano S, and others? Because they want to use them, not only to store their coins. Hardware wallets are for people who spend some coins sometime and not only gathers them. For those who don't want to spend, paper wallet is a way cheaper solution (cheaper than $5 maybe). Hardware wallets need to have the screen and the buttons to let the users control their spendings, so your solution can be the competitor of the paper wallets, maybe.

885  Bitcoin / Bitcoin Discussion / Re: KYC blocking btc on Xapo on: February 24, 2018, 01:10:22 PM
Well they request from me some hardware reciepts and electricity reciepts that i dont have or maybe i would not be able to get them.
So if i dont answer on all of their requests does it mean that i might loose my bitcoins?
Get someone to scan it for you (or to take a photo, nearly everyone has a smartphone, so it can't be a problem), and send it to you as soon as possible.
Last year, it has started with the identification of the card holders. After the XAPO app has been updated to ask for a 'security' selfie, mandatory (before it was optional)... You have to prove your identity (ID card, driving licence etc...) and your location (electricity, water, gas, etc... bill, they don't like phone or internet bills).
You will lose your bitcoins if you don't do what they say. This is a web wallet, people are always adviced to keep small amount on the web wallet, because of things like this one. You can decide if the amount of coins you have on XAPO wallet worth the price of identifying yourself at their system.
886  Bitcoin / Bitcoin Discussion / Re: IMF Chief Lagarde: Global Cryptocurrency Regulation Is Inevitable on: February 24, 2018, 12:26:18 PM
I’m ok with regulations. One of many thing that stops people from investing in cryptocurrency is legitimacy. Most people  don’t want to put their time, effort and money on something that does not have a physical form and is not recognised by the government.
That's a good point, I also know a lot of people who know bitcoin, read the news about bitcoin but as long as they can't do the whole bitcoin thing officially, they won't risk their time and money. They say as soon as the government regulates it, they will be the first to invest into the technology. Also, we need some kind of regulation, in order to make buying and selling bitcoin easier for average people. And average people needs education, if they want to join the crypto market, in order to avoid unnecessary losses and to manage the risks of the crypto world properly. This will help the mass adoption on the long run.
887  Other / Meta / Re: Mod, please check new additions: Reporting copy/pasting, please permban on: February 24, 2018, 12:10:52 PM
This user has just copy-pasted my last post in the thread...
https://i.imgur.com/UwwmobE.jpg
Original post:
Status update:
I've received the Raspberry PI, I've managed to set it up, so it's working, but there's nothing installed yet in connection with bitcoin. I've used this install guide, it was really straightforward and was easy to follow.
https://medium.com/@stadicus/noobs-guide-to-️-lightning️-on-a-raspberry-pi-f0ab7525586e
What I'm reading now is a so called neutrino light client which is not a full node but something like a pruned one without the full blockchain, it connects to other nodes to gather the necessary information about blockchain. If I use this, the 16Gb SD card in the Raspberry PI will be enough to run a bitcoin node with LN hub installed. (I understand that running a full node will be necessary in the future, but now I would like to test only, so it's enough for that purpose.)


Copypaste:
Status update:
I've received the Raspberry PI, I've managed to set it up, so it's working, but there's nothing installed yet in connection with bitcoin. I've used this install guide, it was really straightforward and was easy to follow.
http://freedomappapk.com/free-movie-streaming-apps/
What I'm reading now is a so called neutrino light client which is not a full node but something like a pruned one without the full blockchain, it connects to other nodes to gather the necessary information about blockchain. If I use this, the 16Gb SD card in the Raspberry PI will be enough to run a bitcoin node with LN hub installed. (I understand that running a full node will be necessary in the future, but now I would like to test only, so it's enough for that purpose.)


Reporting to the mod as well in the thread...

888  Bitcoin / Development & Technical Discussion / Re: Running bitcoin node with LN hub on a Raspberry Pi 3 on: February 23, 2018, 09:40:48 PM
Status update:
I've received the Raspberry PI, I've managed to set it up, so it's working, but there's nothing installed yet in connection with bitcoin. I've used this install guide, it was really straightforward and was easy to follow.
https://medium.com/@stadicus/noobs-guide-to-️-lightning️-on-a-raspberry-pi-f0ab7525586e
What I'm reading now is a so called neutrino light client which is not a full node but something like a pruned one without the full blockchain, it connects to other nodes to gather the necessary information about blockchain. If I use this, the 16Gb SD card in the Raspberry PI will be enough to run a bitcoin node with LN hub installed. (I understand that running a full node will be necessary in the future, but now I would like to test only, so it's enough for that purpose.)
889  Bitcoin / Bitcoin Discussion / Re: Biggest Bank stops use of bank accounts for buying Bitcoins/Cryptocurrencies on: February 22, 2018, 09:26:46 PM
A bank won t make much money from bankrupt debtors, cc for crypto is moronic in the best of cases. Do you use your CC at the ATM?

We might want to start worrying when you can t use bank transfers.
Your cc limit is somehow calculated based on your average monthly income. This means if you fully deplete your credit card, you won't go bankrupt but you can pay it back in monhly instances in a longer period of time. You can use your credit card (not wise though) also to buy a tropical trip if it fits your limit, there's no difference at the end, when you'll be in heavy debt at the end of the repayment period. So the reason that banks are trying to protect their customers when they ban the usage of credit card in connection with crypto is not fully understandable. It gets even more weird when it's the same with debit cards...
About bank transfers: you can issue a bank transfer, that's not the problem, and banks will let you spend your money, if you want, in the future too. The problem is that there are more and more banks where they're filtering the incoming wire transfers from exchanges and from crypto related bank accounts, and they don't credit the amount on your account but asking for clarification/reversing the transaction.
890  Bitcoin / Bitcoin Discussion / Re: Why Coinbase Adding SegWit is Huge News for Bitcoin on: February 22, 2018, 08:47:02 PM
Because lot of users using coinbase as their wallet and make transaction from their itslef but they not yet upgraded to segwit so the transaction fee is still high in the coinbase wallet when compared to other walletmso it is a good news that coinbase is gonna implement segwit too.
I will help the unconfirmed transaction under control because transaction happening more faseter than the legacy address.But there is nothing relation between the news and the price drop maybe the users still not aware of this news.
Will the existing users be forced to use the segwit accounts? If someone has a legacy address yet, will Coinbase offer a SegWit address next time when the user generates a new receiving address?
If the system only enables people to use the Segwit addresses (who have no idea about Segwit addresses still) then it will not help in the near future. For the average joes, the only difference is still that Segwit starts with '3' and normal (legacy) starts with '1'...
891  Bitcoin / Bitcoin Discussion / Re: How I would approach cryptocurrency if I was a bank on: February 21, 2018, 10:17:09 PM
....

3. I'd set up merchant services, so merchants could accept payments in cryptocurrency, bypassing VISA. I'd make sure my fees were lower than VISA's to encourage take up. I'd contact all my existing business customers to alert them to this new service.
.........
The current process (which inclueds VISA) has 4 members (2 middlemen).
The payment system is the following:
Customer with debit card -> VISA -> Bank -> Merchant

You say that if you start to use crypto, it will be like this (cheaper, because VISA is off):
Customer with bank's mobile wallet -> Bank's wallet -> Merchant

If you were the Merchant, would you prefer the following?
Customer with mobile wallet -> Merchant wallet
Because this is possible with crypto also, so you don't need the Bank at all, you can cut out 2 middlemen and you can reduce the prices (or gain more profit), because the fees of the middlemen are not applying.
Maybe this is why banks are not happy with crypto
892  Bitcoin / Bitcoin Technical Support / Re: Full Node on Raspberry Pi 3 on: February 20, 2018, 04:17:47 PM


I have a Bitcoin full node + lightning node running stable on a Raspberry Pi3. BTC blockchain is stored in an external usb drive, swap in a pendrive. Everything works fine.
Which LN node are you using? the C-lightning, the lnd or which one? The external USB drive you use to store the blockchain is an HDD with a USB connections to the PI? What is the size of the swap pendrive?
Could you please share the link you were using while you were working on the installation of the node?
Sorry for the lots of questions Smiley
893  Bitcoin / Bitcoin Discussion / Re: Are vanity addresses less secure than "normal", randomly generated addresses? on: February 20, 2018, 11:41:57 AM
Sorry, I should have mentiond this! I just ran vanitygen on my computer...here is the tuturial (Option #3): https://99bitcoins.com/how-to-get-a-custom-bitcoin-address/
Is it possible to generate a SegWit enabled vanity address? (starting with '3').
All the addresses I can see starts with '1' which means legacy addresses and now everything is about moving to a SegWit address.
I found some hints on reddit but I'm not 100% sure if they are OK, so please let me know if you know a reliable SegWit address generator which is offline and which is not a scam.
Of course it is possible. I am not sure if the publicly available tools exist to do this, but calculting the public address from the private key is a straightforward procedure. You can code it easily yourself, if you have basic codeing skills or a tutorial available. That approach has the advantage that you know what your code does and you are 100% sure your private keys are not disclosed to anybody.

Basicaly what needs to be done is the following: you need to be generating random private keys, from them you need to be calculating the public addresses and if the prefix of the address matches your string - voila!

The longer the required prefix, the longer it takes to find a match.
Thanks, that's clear now. So after the private key and the public address was found, I have to double check if the private key really works or not.
If I don't want to send any coins to the new address before I check if the key and the address works, is it possible to check the private key with signing a message? I assume I have to check it with an airgapped PC. So I mean that I prepare a message on an Internet enabled PC, and transfer it with a USB drive to the airgapped PC, sign it, and try to check the signature on the internet enabled PC?
Or, it's easier to send 0.000001 bitcoin to the address, and try to spend it with nearly 0 fees? (e.g. 1 sat/B)
894  Bitcoin / Bitcoin Discussion / Re: Are vanity addresses less secure than "normal", randomly generated addresses? on: February 19, 2018, 10:17:03 PM
Sorry, I should have mentiond this! I just ran vanitygen on my computer...here is the tuturial (Option #3): https://99bitcoins.com/how-to-get-a-custom-bitcoin-address/
Is it possible to generate a SegWit enabled vanity address? (starting with '3').
All the addresses I can see starts with '1' which means legacy addresses and now everything is about moving to a SegWit address.
I found some hints on reddit but I'm not 100% sure if they are OK, so please let me know if you know a reliable SegWit address generator which is offline and which is not a scam.
895  Bitcoin / Bitcoin Discussion / Re: question about unfairly cheap TX on: February 19, 2018, 09:41:26 PM
So i sent about 20$ worth of BTC to a friends wallet with samourai yesterday since i wasn't able to pay for our pizza via bitpay with it because they apparently don't support their address format.

I paid 10 cents and it confirmed within like 10-20minutes. Im watching https://dedi.jochen-hoenicke.de/queue/#all and realise were at almost all time low tx fees.

While watching jochen hoenickes mempool website i realize i dont really understand it properly i think.

No i didn't search the whole web for an answer yet though i did some research on my behalf but im still not entirely sure how TX fees were able to drop this fast.

also has it something to do with segwit?

please let me know; looking forward to your opinion
Yes, SegWit has a part in it, but it's more about the demand on Bitcoin. Nowdays (after the drop in price in January) there are less transactions daily, so the mempool is nearly empty (OK, not empty but much better compared to last December). So if you combine Segwit with the moderate interest in bitcoin, you'll get the answer why the fees went down like this. Use this period of time if you want to transfer coins from addresses into one address, because it can change anytime.
896  Bitcoin / Bitcoin Discussion / Re: Trading Platforms: Are They Safe? on: February 19, 2018, 09:36:43 PM
As far as I know trading platforms (exchanges) are not safe at all... They let you trade but they won't give you a private key to your 'wallet' at their site. This means that they can do anything they want with your money/bitcoin/alts... As soon as the exchange shuts down (and never switch back) you won't have your coins and you can hardy do anything against it or to somehow get back your coins. Of course, if you want to trade, you have to use those services. In the future, the decentralized exchanges will solve this problem, if they will be able to handle the hardware wallets, like the EtherDelta exchange for eth based tokens, it's able to use the Ledger Nano S if you want to trade. Also, Atomic Swap will be a useful thing if it gets widespread, to exchange cryptos.
897  Bitcoin / Bitcoin Technical Support / Re: Full Node on Raspberry Pi 3 on: February 19, 2018, 09:24:28 PM
SD with 200 GB available... used from ebay... From shop, it would cost about $200, you can buy a decent USB HDD from this price and it would not have only 256 GB space but much more.
Anyway, how much space is needed to host a full node? I'm thinking about the same, using a Raspberry PI to run a full bitcoin node and I'm thinking about what size of USB HDD I need to buy.
Does SD card is a possible solution for storage, when running a node on PI? I mean the OS is writing on the swap partition continously, so SD can reach it's write limit in no time and after you can just trash your SD?

SD and SSD technologies are fairly similar in the way thy function and people run core on SSDs. Even though they're obviously more stable, they're still flash storage.

@OP, what does the SD card say on it? What brand it is, what size? The only FLASH producer I'd trust personally is Kingston (Samsung, Sony and Sandisk are alright also but not as good). Bitart, Kingston and Sandisk definitely go up to 256 gb micro sd cards (not entirely sure whether a raspberry pi is capable of supporting that in such a small and dense storage medium but...)

I've been considering using a raspberry pi also for the same operation but I always got my dependencies wrong and never had enough time to go back and correct myself from all the problems to reinstall everything.


Thanks for the advice. I won't think that the Raspberry Pi is able to handle the 256 Gb SD card...
My concern is the read/write cycles of the SD card, still.
I've found this thread, it's pretty old, but the problem is still valid:
https://www.raspberrypi.org/forums/viewtopic.php?t=21281
I'm not sure about the OS of Raspberry PI but if it's a linux, then it's not a good idea to run it on an SD card or USB flash drive. Or, I only need to move the swap partition to the HDD and it will solve the read/write cycle problem. Anyway, as soon as I'll have a working system (hopefully sometime this year Smiley ) I'll make a backup copy of the SD, just in case....
898  Bitcoin / Bitcoin Discussion / Re: Looking for ideas for my store on: February 19, 2018, 08:40:00 PM
hi, i want to open a crypto-themed, brick-and-mortar store. currently trying to figure out what I should sell. a couple of ideas i have are hard wallets, crypto apparels and mining equipment. Any other suggestion? I want to build a community around this place so while profitability is important, it is not of utmost priority. thanks a lot for any advice!
As I were you, I won't sell hardware wallets... Especially for the average people... It's a rule of thumb that you only buy hardware wallet from the webshop of the original manufacturer... especially you should not buy hardware wallet from ebay...
In a brick and mortar shop you will have to provide a warranty (or something similar). Imagine that you sell a hardware wallet (an original one, not a tampered) to someone (an Average Joe). He starts to play with it at home, buys 1 bitcoin and accidentally lose the seed, PIN, or anything. It's definitely not a warranty case, but you have to be able to handle these kind of situtaions as well.
Other stuff is OK, books, clothing, etc. but be really cautious with the above mentioned things.
899  Local / Other languages/locations / Re: Magyar (Hungarian) on: February 19, 2018, 04:57:28 PM
Sziasztok!

Ahhoz, hogy a
"Bitcoin Forum > Local > Other languages/locations"-be új topikot nyissak, mekkora rang kell?

semekkora, ugyanis itt nem lehet új topicot létrehozni nekünk halandóknak Cheesy
Lehet szerintem, max nem lesz pinned, mint a "hivatalos" anyanyelvű threadek, szóval a kutya sem fogja megtalálni az első 10 oldalon. Ha létrehozni létre is lehet, törölni viszont biztos nem, még a létrehozónak sem, csak modnak, ezért nem kísérletezem vele. Cheesy
Ezt is próbáltam már, nem csak, hogy nem fogja a kutya sem látni, ki is törlik a modok szó nélkül, mert új magyar nyelvű thread-et nem lehet létrehozni, itt kell maradnunk a magyaron belül.
https://bitcointalk.org/index.php?topic=1799277.msg17932222#msg17932222
Mivel ez a magyar csak az other-en belül van, nem lehet külön ANN al-thread-et létrehozni benne, így jártunk...
Ha a magyar külön thread-et kapna, mint a francia, német, stb... akkor lehetne saját al ANN thread-ünk, meg miner meg minden... de eddig még nem sikerült kibulizni a külön magyar topic-ot... sok energiát ne fektessetek olyan fordításba, ahol külön ANN thread kell a bountyhoz
900  Other / Meta / Re: Mod, please check new additions: Reporting copy/pasting, please permban on: February 18, 2018, 10:50:05 PM
What's this? A bot or what? Copy-paste into the same thread? Weird...
User: Shrinath
https://bitcointalk.org/index.php?action=profile;u=1170453

Copy-paste post:
https://bitcointalk.org/index.php?topic=2965891.msg30570860#msg30570860
Few places in the world accommodate profitable cryptocurrency mining. With most governments not taking kindly to Bitcoin, there are fewer locations available. In Canada, the Powerview-Pine Falls are suddenly of great interest. More specifically, the community of 1,300 residents has seen an influx of cryptocurrency miners. It is a surprising turn of events, yet a welcome one for the small town. Since there is no real use for the power line, it was never fully decommissioned either. The mayor admits most people forgot it was even there to begin with. Luckily, it now gets a second lease on life thanks to cryptocurrency mining firms. Low temperatures and hydroelectricity in abundance create a profitable environment for these types of ventures. With the value of Bitcoin and consorts soaring, cryptocurrency mining has become a lot more popular. Especially Chinese operators show a big interest in this particular location. Bitmain is rumored to be in talks with the Quebec authorities to set up hop. Toronto’s own Hut 8 mining Corp is also involved in some discussions as of right now. All of this is positive news for Powerview-Pine Falls. A new type of heavy industry will create new jobs and put old infrastructure to good use.

For now, nothing has been set in stone yet. There is a healthy mix of operations, both large and small. One firm even offered to sue all of the available electricity and pay good money for it. Whether or not any deals will be inked, remains to be seen. It is an exciting opportunity for Powerview-Pine Falls, although it remains to be seen what the future holds. Its hydroelectricity and dedicated infrastructure certainly make for an appealing location. Additionally, more jobs can only be considered to be a good thing as well.

Original post:
https://bitcointalk.org/index.php?topic=2965891.msg30466008#msg30466008

Few places in the world accommodate profitable cryptocurrency mining. With most governments not taking kindly to Bitcoin, there are fewer locations available. In Canada, the Powerview-Pine Falls are suddenly of great interest. More specifically, the community of 1,300 residents has seen an influx of cryptocurrency miners. It is a surprising turn of events, yet a welcome one for the small town.

One has to keep the brief history of Powerview-Pine Falls into account. The city used to provide a lot of jobs due to a local paper mill. When it shut down in 2009, a void was created, resulting in 250 unemployed individuals. Additionally, the tax base took a massive dip by as much as 40%. Recovering from such a situation is never easy. However, the transmission lines providing 84 megawatts of electricity to the town.
Powerview-pine Falls is of Great Interest

It is not surprising this has caught the interest of cryptocurrency mining firms. Since there is no real use for the power line, it was never fully decommissioned either. The mayor admits most people forgot it was even there to begin with. Luckily, it now gets a second lease on life thanks to cryptocurrency mining firms. Low temperatures and hydroelectricity in abundance create a profitable environment for these types of ventures.

With the value of Bitcoin and consorts soaring, cryptocurrency mining has become a lot more popular. Especially Chinese operators show a big interest in this particular location. Bitmain is rumored to be in talks with the Quebec authorities to set up hop. Toronto’s own Hut 8 mining Corp is also involved in some discussions as of right now. All of this is positive news for Powerview-Pine Falls. A new type of heavy industry will create new jobs and put old infrastructure to good use.

For now, nothing has been set in stone yet. There is a healthy mix of operations, both large and small. One firm even offered to sue all of the available electricity and pay good money for it. Whether or not any deals will be inked, remains to be seen. It is an exciting opportunity for Powerview-Pine Falls, although it remains to be seen what the future holds. Its hydroelectricity and dedicated infrastructure certainly make for an appealing location. Additionally, more jobs can only be considered to be a good thing as well.

Source - http://www.livebitcoinnews.com/canadas-powerview-pine-falls-attracts-cryptocurrency-mining-firms/

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