Keep in mind it's not just bandwidth it's latency. How long does it take for the round trip between your miner and the pool. Depending on where the pools stratum nodes that you connect to are and which providers they are peered to and who your ISP is peered to can make a difference in stale shares. Will it matter? Depends. Probably not that much but it is something to keep in mind. If one place has their stratum servers on one of the big cloud providers, like Amazon, Google, MSFT more then likely there is a direct peer to their network. If they are using some place like pair or linode or vultr your transit may be longer. https://www.netnod.se/ix/what-is-peering-Dave |
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The AMEX and Vanilla Visa do not require any KYC. But they seem to be region limited, and the rates are worse then the other cards that do need some form of KYC. I guess a lot comes back to location. I can get $100 Visa cards from Egifter for $105.99 but it's US only. I vaguely remember some provider in Canada having the same things with CAD value. Kind of funny since I can go to just about any convenience store / drug store / food store here in the US and get up to a $500 VISA / MC / AMEX gift card for cash and nobody gives a shit..... Order it online and get a free anal probe...... -Dave |
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And just now I got an alert on my phone from the Gemini App that they now have BUSD to Bull / Sell / Trade on Gemini. And just got an email about it too. Could be a coincidence, could be them trying to get ahead of other places that may be listing it. For the paranoid it could be them conspiring against us  But, no matter what it is going to push more usage for BUSD. -Dave |
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I really like seeing things like this. People with money / BTC doing good things with it and promoting it and educating people about it.
Now, I also fully understand that part of it is that if BTC does well they also do well, but there are other big name people in the crypto world that you can tell are just in it to make a buck and run.
This shows how to promote it for the long term.
-Dave
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As I have always said with hot / online wallets. It comes down to the risk vs convenience amount and everyone's number is going to be different. I have a non raided - beta software - SBC - always online - tor connected umbrel lightning node with more funds on it then the hot wallet on my phone. Because even with all the above I still think it's more secure. And I probably won't forget it on a table at a restaurant and leave it there. Others will feel differently. Bill Gates could leave $10000s on one and not care. But, all that aside, once it's out of beta do you really want it to be running more then just crypto apps? -Dave |
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Looking at both those sites I am probably going to say it's not worth the time and effort.
There are BATMs that no longer exist that are still listed.
There are entire BATM networks that are not listed. (LibertyX comes to mind)
Even if you just want to spend crypto, there are stores that no longer exist that are still listed.
And so on....
These maps seem nice but since they 1st came out with all the other integrations of crypto into other apps they really need a major do-over IMO.
As an example, the SPEDN app. You can do crypro -> spend in store to Baskin Robins, Chipolte, Game Stop, Petco, and about 20 more places. No, they do not 'take' crypto but so long as you can put crypto in -> get stuff in the store on the fly does it really matter? Do you want to see all of them listed?
Even if you want to support businesses that directly take / support crypto they probably are not doing it themselves but through a 3rd party, be it BitPay, Square (Block) or some other one. Very few that I have seen are doing it internally.
Not trying to be a downer, just being a bit realistic for this at the moment.
-Dave
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Remove crypto from the equation.
Someone takes your wallet with cash in it. They go to a local casino and loose it at a slot machine.
You file a police report, have them on camera taking your wallet, the casino has the same person loosing 'your' money at the slots.
They they are not going to give you your money back either.
IF this story is true they have to go to trial, be found guilty, and then they will be forced to pay restitution. And that is it.
The casino has no responsibility to even talk to you.
-Dave
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I'm surprised at Illinois being ahead of NY. I would have thought with all the financial stuff going on in NYC I figured it would be higher.
But, beyond that it's about what I would expect.
Florida has (although it is shrinking) a large population of tech workers so being in the #4 spot is about right.
Washington has a lot of tech too (MSFT & Boeing)
After that it just kind of shrinks into whatever / population bars IMO.
-Dave
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I confused the Jacks. My bad.  Shit happens!  Still uncomfortable to hear something like this from a somewhat popular figure. I'm not sure about the whole context, but somehow CoinDebit was able to offer a no-KYC debit card. And Mallers did speak out in favor of privacy as one of the reasons why he's so involved with Lightning. Now he turns around and shits on it? Again: context may be necessary. The context is: The government not giving you privacy = bad The other company not giving you privacy = bad My company not giving you privacy so we can sell your data = good See it's simple.  Makes you wonder how far you would have to keep businesses separate to have the hardware part of the wallet with one, the software part of the wallet with another and any other apps / features with another so you could sell the HW portion as 100% not involved with the others so people who REALLY wanted as much privacy as they can get could then deal with the other aspects only if they wanted to. I mean, I know you can do it. But at what point can you really legally say hardware business "A" has nothing to do with software business "B". -Dave |
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Although I really like the concept of all these apps, every time you add stuff to a project like this you do compromise security and add things that can go wrong.
Also, most people are still running it on a RPi, there is a limit to what it can do. You know there are people out there that will install every app and then wonder why it's taking forever for the node to sync or why this or that is going wrong and it's just the RPi CPU screaming while trying to keep up.
It's a device that holds your finances, no reason to be doing that much more.
-Dave
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It's probably true just due to the number of video games out there. Just about everyone has a Playstation or XBOX or knows someone with a massive PC for gaming.
Also, don't forget you also have a TV or monitor on when gaming so add that in too.
Gold is not a surprise it's always consumes a lot of power as does paper.
How much power do you think is needed to grow / harvest / roast / grind / make coffee? But there is no way in hell you can tell that many people they can't have their caffeine addiction.
-Dave
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Yet another person coming in with a complaint against LBC and then never coming back to give proof / follow up.
I am starting to think there are a lot of hacked LBC accounts being sold to people who think they can just log in make a trade and keep the money.
That or people who think larger financial places don't have a list of IPs used by VPN providers and that they can get around sanctions / blocks by using them. FYI people there are accurate lists updated frequently that you can buy from well known and trusted security firms.
-Dave
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Migrating a data center to a mining facility isn't the best idea in the world, the power consumption of miners is way too high compared to those regular servers, the bottom line is that you can't easily find PDUs that can supply 5kw per socket, most currently used PDUs will be capped at 4kw at best, so a lot of re-constructing will need to be done to be able to run 5kw gears which is why I don't think they will ever make anything like that. Also, most data centers probably use 42U racks instead of 48u, but then, either way, going with the assumption that the average server consumes no more than 500w, we are talking about 25kw per rack enclosure (which I am sure is a very rare as most of them will not be above 10-15kw), that would hardly fit 4*5KW machines, in size of 2258cm x 750cm, a lot of space wasted. So in terms of space and power, if a data center has access to excessive power, it would be best to just get rid of those racks and install normal mining shelves + new electric wiring, but do data centers really have any power to spare? I mean looking at the data it seems like Facebook which has one of the largest combinations of data centers only uses 50MW of power, where does that put the average data center at? I was thinking more about cost and simplicity. Most data centers probably can't fully power and cool everything if they were all miners. BUT, once you start changing floor layout and the high power wiring you are changing the dynamics of the facility. Once you start going down that path you hurt the potential resale value of the facility and can limit options later. There are a lot of data centers out there that started as top of the line places and still are *for when they were built* but new better ways of doing things came along. Now they are not so great but still usable. Mining is one option. If you re-do it o be better for mining the next use will cost you a lot more money to re-configure it back. As would re-configuring if you are not just using regular racks. So are you better having more spaced out miners in a place that you can re-sell later if you bought, or will not have to pay a fortune fix if you leased it. Or making it better for mining? Would need some engineers and accountants to be sure. -Dave |
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I can see other exchanges doing this. Allow deposit and withdraw of any of the big name stablecoins but only trade on 1.
Do you really need BTC/USDC and BTC/USDT and BTC /BUSD? And then every other altcoin/ 3 stablecoins?
All come in -> converted to one -> choose your outcoin.
I'm sure it's going to allow for more shenanigans on the back end, but wait for it....not your keys, not your coins. If you leave it on the exchange and shenanigans do happen, that's on you.
-Dave
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It would probably create an entire new wave of miners. Lower power, low noise, perfect for home mining. Perhaps get back to the rack mount style like the antminer S2 / Spondoolies tech miners so people could place it in their equipment racks and nobody would know the difference.
Yes, the governments could play whack-a-mole trying to find it all but it would never happen.
Since BTC is for people to do with what they want, it can be a store of value, it can be a hedge against inflation, it can be an investment, it can be a cash replacement. It can be whatever you want it to be. And if someone does not agree, fine you don't have to agree it's what YOU want, not what THEY want.
-Dave
Precisely. People are forgetting about the difficult adjustments. If large-scale mining businesses would be ruled out, then it would be highly more viable for at-home miners. There's a reason it was designed this way — for Bitcoin to work regardless if there was a huge censorship campaign for large-scale miners. More people are forgetting that as energy rate keeps increasing, the cost of the energy to mine a bitcoin is exceeded by the energy purchased price. Meaning, every bitcoin mined costs more money than it brings in. How many home users do you think will go in the hole even $1k every month for 1 to 2 years to save btc. With Food and energy prices still increasing, odds are they won't be able to afford it, many normal business are already shutting down from just the normal energy they use. Giant mining firms can offset their loss in profit by going to the outside financial sector for capital investment. Home users can not get a major capital investment on a whim, because to be honest their operations will be too small to ever profit mining bitcoin. Bitcoin is only more profitable than the energy used for ~ 6 months every 4 years, the rest of the time , it is in the hole. * Due to the aging Baby Boomers, the capital investment is already in decline,
so even the big boys are not going to be able to offset the costs anymore like in the past.* And you are forgetting that if big players do drop out difficulty goes down, and as it does the home / small miners will if not make a profit will not incur a noticeable loss. You also do not seem to understand the amount of people who are mining with fixed infrastructure power costs. Or where there is unused power generation that can't go anyplace else. https://decrypt.co/98424/bitcoin-firm-crusoe-energy-raises-505-million-grow-flare-gas-mining-businessOr the bottom of the mountain wind turbine miners in CA. Or overnight hydro mining, it's not like a river stops flowing when everyone goes to sleep at night and power use drops..... And so on. -Dave |
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I meant that literally. Some people actually believe that power utilities will kick miners off this coming winter to have spare power for everyone else!
...
This seems like an equally ridiculous take to me. Are there any laws guiding what industries can be let off or what takes priority over others. Mining is sort of a business venture for miners, same with industries and factories everywhere which consumes loads of electricity. Why would one take precedence over the other... By lately some people have been claiming that "Bitcoin's power consumption is a central point of failure - someone can just switch off the electricity and all miners stop". And in particular "Bitcoin will not survive the coming winter". Both of these are wrong.
It was a tremendously bad argument in the first place. It's not like stopping all the miners is going to take a single(or a few) press of a button; it's going to require some sort of extensive global government collaboration to literally look for and stop every single miner(including miners that only run their operations at home). It's simply not realistically viable. It would probably create an entire new wave of miners. Lower power, low noise, perfect for home mining. Perhaps get back to the rack mount style like the antminer S2 / Spondoolies tech miners so people could place it in their equipment racks and nobody would know the difference. Yes, the governments could play whack-a-mole trying to find it all but it would never happen. Since BTC is for people to do with what they want, it can be a store of value, it can be a hedge against inflation, it can be an investment, it can be a cash replacement. It can be whatever you want it to be. And if someone does not agree, fine you don't have to agree it's what YOU want, not what THEY want. -Dave |
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It seems so easy for those whales to shake the market in uncertainity.
Simply moving the coins! Especially the dormant one! So you can get more bitcoin in these bearish run. Crazy to speculate that those thousands of bitcoin are going to dropped in the market all at once.
Too much possibility with really limited sources to reveal the fact , bitcoin transacted decentralized so yeah who knows.
Yet again I am saying the same thing that people refuse to understand. But one more time people. The volume of BTC <-> USD / USDT / other 'stable' coins is on the order of $7 BILLION dollars a day at a minimum. There is about another BILLION dollars a day in BTC <-> alts. If they dump it all at ones it's adding $100 million to the pot. Yes it MIGHT move the value SLIGHTLY. BUT MOST PROBABLY NOT. Depending on who you ask / where you look there is probably close to another 10% in trading not being shown in the $7 billion number due to OTC and other places that are not being reported in the CMC / coingecko type places. -Dave |
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The above two statements are in consecutive paragraphs. It appears that Coinbase is accused of *both* having too little and too much security for their customers' accounts.
Anyone can file a lawsuit for any reason. There are many class action lawsuits that are meritless and are often filed by greedy lawyers whose intent is to shake down a company for a settlement that involves nearly nothing for the plaintiffs and a large fee for themselves.
Quite weird, ain't it? Honestly account locks suck but it's better for Coinbase to be overly strict with their security rather than the opposite. People just look at it too much as a hindrance rather than a security measure. Part of the issue IMO is the lack of good customer service and lack of physical locations to deal with some issues. Had an issue with a bank starting in late July, spent hours on the phone and progress was VERY slow. But, after a few evenings of making slow progress I drove my ass down to the local branch and after about 90 minutes of the person I was dealing with and their manager working their way up the internal CoC the issue was fixed. Partly my fault, partly the banks fault and since the bank had bought the bank I was dealing with before partly the old banks fault. BUT, the issue was fixed since there were people who could handle it. You can't do that with Coinbase so you are stuck dealing with offshore support. To make matters worse, there are a lot of people who are just starting in crypto and wind up at Coinbase and just don't understand how it's done. So it's not just a new thing (crypto) it's an entirely new way of dealing with money and they have issues. -Dave |
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