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1  Bitcoin / Hardware / Re: GekkoScience Compac BM1384 Stickminer Official Support Thread on: September 12, 2015, 08:14:35 PM
hey all,

running into a small problem here

using cgminer, got zadig, it recognizes the device, but everytime i try and run it i get this:

Input server details. URL: ./cgminer -o stratum+tcp://stratum.mining.eligius.st:3334 -u 1BURGERAXHH6Yi6LRyb RJK7ybEm5m5HwTr --compac-freq 150 Username: 1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr Password [enter for none]: [2015-09-10 23:47:42.715] Failed to resolve (?wrong URL) ./cgminer -o stratum+t cp: URL stratum+tcp://./cgminer -o stratum+tcp://stratum.mining.eligius.st:3334 -u 1 BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr --compac-freq 150 failed alive testing, reinpu t details URL:


could it be my network?

I never had to do -p x, it's optional.

That is the error it gives when it fails to resolve a URL- or if you don't tell it a pool- but reading this I think the problem is that you're inputting the entire command when it only asks for a url.  Don't, you can give it the URL later but do not give anything but the URL.  I've never launched it quite like that but what you should input is clearly either:

"stratum+tcp://stratum.mining.eligius.st:3334"

or

"stratum.mining.eligius.st:3334"

If you want to run the whole thing from the command line on windows without it asking for details try typing this in FROM THE COMMAND LINE, this will start cgminer already set up to mine, it won't have to ask details:

cgminer.exe -o stratum+tcp://stratum.mining.eligius.st:3334 -u 1BURGERAXHH6Yi6LRyb RJK7ybEm5m5HwTr --compac-freq 150

(except put in your pool details)

--
novak

alright, i got it working:

my problem turned out to be twofold:


I was inputting the URL incorrectly as you mentioned, and the device was not being recognized because i erroneously believed i had installed the winusb drivers, when i only had done so my 1 other stick.
2  Bitcoin / Hardware / Re: GekkoScience Compac BM1384 Stickminer Official Support Thread on: September 11, 2015, 04:28:29 AM
OK OK

i'll report back!
3  Bitcoin / Hardware / Re: GekkoScience Compac BM1384 Stickminer Official Support Thread on: September 11, 2015, 03:51:48 AM
hey all,

running into a small problem here

using cgminer, got zadig, it recognizes the device, but everytime i try and run it i get this:

Input server details. URL: ./cgminer -o stratum+tcp://stratum.mining.eligius.st:3334 -u 1BURGERAXHH6Yi6LRyb RJK7ybEm5m5HwTr --compac-freq 150 Username: 1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr Password [enter for none]: [2015-09-10 23:47:42.715] Failed to resolve (?wrong URL) ./cgminer -o stratum+t cp: URL stratum+tcp://./cgminer -o stratum+tcp://stratum.mining.eligius.st:3334 -u 1 BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr --compac-freq 150 failed alive testing, reinpu t details URL:


could it be my network?
4  Bitcoin / Hardware / Re: GekkoScience Compac BM1384 Stickminer Official Support Thread on: September 09, 2015, 04:49:46 AM
NP

I just posted them hoping that it would motivate a few people on the sidelines.


5  Bitcoin / Hardware / Re: GekkoScience Compac BM1384 Stickminer Official Support Thread on: September 08, 2015, 11:48:42 PM
TY sidehack and novak!

came nicely and safely packaged.

I'll play with it later tonight!


6  Bitcoin / Hardware / Re: GekkoScience BM1384 Project Development Discussion on: September 03, 2015, 07:00:06 AM
retrofitting boards and selling direct to customers is not a viable & sustainable business model IMO.


Unless sidehack & novak are being contracted out to retrofit a massive farm where the only barrier to success is actual R&D (and not chip availability/money) i dont see a sustainable business, because you guys are way overestimating the amount of actual customers.

What sidehack & novak are insanely good at is squeezing out every last drop of efficiency on the hash/v curve. That's the specialty, and the bm stick miner is a proof of concept that people are leaving an insane amount of value/efficiency on the table by buying miners that arent custom built/tuned for efficiency.


A viable business would be starting a farm, buying up thousands of old s1, s3s wholesale from professional mining operations and being able to retrofit them with previous gen designed chips &boards  yourself.

I can see that working as a business that actually has an opportunity to scale.


you guys are insanely smart, just horrible businessmen.
7  Bitcoin / Electrum / Re: [BUG] C`mon guys fix some basic things in electrum! on: August 16, 2015, 08:56:57 PM
trezor signs the transaction, and sends the signed tx back to your computer


you broadcast it.



using an airgapped computer means you are putting a lot of faith into the rng. Trezor allows you to select your own pin & passphrase on top of the 256bit private key.

saying that you wouldnt trust more than 10 btc into trezor, but believe that airgapping a computer solely for wallet generation of btc over 10 is laughable. I mean, do you seriously believe that an offline version of bitaddress.org is safer than trezor?
8  Bitcoin / Electrum / Re: [BUG] C`mon guys fix some basic things in electrum! on: August 15, 2015, 10:09:51 PM
Unless you permanently airgap a computer that was built specifically for wallet generation, and nothing else, how exactly is cold storage safer than trezor? And unless you are a programmer who can inspect code, how can you trust any of the wallet generators that do not use bip32/39/44 like trezor or a MS wallet like copay?

trezor is superior to printing paper wallets.
9  Bitcoin / Electrum / Re: Restoring Trezor seed with Electrum Windows crashes on: August 11, 2015, 09:51:40 PM
i thought that you could recover your trezor wallet with electrum...

https://doc.satoshilabs.com/trezor-faq/overview.html

Quote
In case your TREZOR is not available you can still recover your bitcoins using your recovery seed and a compatible wallet like Mycelium, Wallet32 or Electrum. Check out our TREZOR Apps for the full list of wallets compatible with the recovery seed.
10  Bitcoin / Bitcoin Discussion / Re: inflate bitcoin or keep 1MB cap. your decision on: August 10, 2015, 11:21:05 PM
Every few weeks, someone involved in Bitcoin writes the following somewhat breathless blog post:

1-Block rewards account for almost all mining rewards

2-Block rewards are going to drop (next drop in 2016/2017) and drop by 50% every four years forever

3-There won't be enough rewards for miners leading to insufficient hashing power

4-Therefore either (a) Bitcoin is in trouble (anti-Bitcoin camp) or (b) block rewards / inflation   will have to be increased to keep miners incented (pro-Bitcoin camp)


Points 1 and 2 are true.  Points 3 and 4 are an exercise in ignoring all data that you can't model, like the old cliche of the drunk looking for his keys under the lamppost because that is the only place he can see...

First, let's recall how rewards in $ terms to miners are calculated because that is what matters for hashing rate since silicon and electricity are priced in $, not BTC.

[# of bitcoins in the block rewards] x [price/bitcoin] + [# of transactions] x [fees per transaction]

Things to ask the author when you read the inevitable Concerned-About-Hashing-Rate-In-The-Future-But-Sanguine-About-Hashing-Rate-In-The-Present Blog Post.

What is your assumption for BTC price at the time of the block reward drop?  Also, in the long-future (2020s before it drops again!), what are your assumptions about transaction volume and fees?

As a general rule, nobody has any defensible assumptions because if you can predict the BTC price in 2017 and 2021 (note, you can't), you would have more lucrative pastimes than predicting hash rates!

I will declare upfront that I have no idea what BTC price will be 1/5/9/13 years from now (same goes for transaction volume) and I have never read any credible analysis suggesting anyone else has a clue either.
    

http://ledracapital.com/blog/2015/8/9/bitcoin-series-35

here's what you fail to understand:

Miners must be incentivized to secure the network. We cannot assume that fintech companies will move to the blockchain via side chains and be willing to secure the network at a loss. We cant assume that a country will adopt bitcoin, that nasdaq or nyse will transact on the blockchain. We can only assume that bitcoin as a currency and store of value moves forward. If this is the case, we have to cater to the miners.

Because no one knows how bitcoin will scale in the future, relative to today, it becomes very difficult to model TX fees. Bitcoin TX volume, and thus fees, can explode for many different reasons, each drawing a different preferred blocksize and fee structure.

If this is the case, we should delay the hardfork as long as possible so that we collect as much data. I am not opposed to hardforks because most of the hashing is generally transparent and accessible (e.g. bitfury, 21e6, knc).


The biggest issue I have with 64mb blocksize is that what happens in 2024 if bitcoin has never experienced an exponential adoption event? If TX volume continues to increase linearly, fee models that we create today may be incorrect, irrespective of bitcoin price. So if we miss on fee projections, along with 6.25 btc block rewards, we risk the security of the network. It is far better to underestimate bitcoin adoption than it is to overestimate.
11  Bitcoin / Bitcoin Discussion / inflate bitcoin or keep 1MB cap. your decision on: August 10, 2015, 06:36:27 AM
The blocksize debate seems much more intricate than many of you are all led to believe. My simple understanding of economics reduces us to two decisions:


Inflate bitcoin, e.g. remove the hard cap and allow for greater block rewards to sufficiently incentivize mining
or
Reduce block size/slow block size growth in order to encourage fees.


By 2024, approximately 94% of all bitcoin's will be mined, and block reward will stand at 6.25btc. Unless a massive adoption event occurs that causes TX volume to jump exponentially, it is possible that by 2024, or past 2024, miners will no longer be sufficiently incentivized to "mine" as good actors.


The issue is that no one knows how bitcoin will be used in the future, but in order for it to successful in any capacity, miners must be incentivized sufficiently. Blowing the cap off the blocksize is a good way to disincentivize people from submitting TX fees, and the only people in the world who probably would be willing to mine at a loss are the trading engines that operate stock exchanges, countries that adopt bitcoin, and banks that are using sidechains.

In order to support a massive blocksize increase, you have to have a lot of faith that in the future (within 10 years) bitcoin's transaction volume + TX fees experiences a possibly brief but exponential increase. We've made a lot of inroads in the industry, but we've so far failed miserably as a currency since 2013. If blockchain technology is our own avenue for increasing transaction volume, I don't think there should be any rush to increase the block size.

We should only increase the blocksize when absolutely necessary. E.g. when we know that there is transaction volume that will never leave the network--- industries entering side chains to obfuscate their transactions-- country x adopting bitcoin-- x country's stock exchange moved to blockchain.

blocksize (today) at 1mb filling up (today) and forcing people to submit 0.0002 btc, or 2000bits as a TX fee does not warrant a block size increase.
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