Any update on the new miner?

Great to see a gen 2 coming, guessing gen 1 sold pretty well

Hi guys, thinking to grab one myself. I wonder what is the most suitable and quiet power supply for this mining unit? I remember reading a post about the power unit that comes with it may not be the best for return as well?
Not that I am looking to make big bucks with this, but I live in an apartment and a quiet miner with reasonable hash rate would be great.

very interesting. looking forward to see more info, would you be shipping world wide?

there is also this:
https://bitcoinminingheater.com/
and
https://heatbit.com/ (apparently no one received one yet)

but there's very little info on youtube, which is a shame.

The real negative feedback loop is leveraged long AND miners needing to sell to stay afloat.

Economics is a very young field and sometimes are even self fulfilling prophecy. Even keysian economics used to be all about taxation and less on supply.

Always be wary of Austrian economists, because they are priori thinking based, while Keysians and Monetarists etc are far more scientific and data driven with math models.
The latter can be broken down and analyzed, the former is basically theories. That also makes Austrian theories easier to sell, but they have been extremely poor at predicting any recession for example.
Some part of The Austrian Theory of the Business Cycle are pretty easy to disagree with too, they said business can handle fluctuations but not gov induced credit expansion, which is simply wrong because everyone made decision based on prediction of future rate. If anything, it is even more predictable. Government policy is largely very predictable, even more so than volatility of gold supply.

At the end, central banks are focused on factors outside money. The economic growth, employment rate and inflation. i.e. the well functioning of the society (in economic terms)
Inflation will always be here to stay, but it isn't difficult to build wealth because of this.

UST is algo stable, the biggest ones are not the same. They all run a Hong Kong dollar peg model essentially and have proven to work.

Volatility gives reason to not go bitcoin standard, it's all speculative meaning the number MUST go up.
Even highly inflating USD is beating almost all other fiat out there, including decade long deflating JPY. it's obvious if you trade FX that inflation doesn't really kill the currency competitiveness, it's national growth that the stable value it enables.

Personal I think bitcoin will always suffer from volatility because the hard capped supply and inelastic supply.
Given more and more leveraged play in Bitcoin, including Microstrategy and miners getting loan to get more miners, volatility may only get worse even, could easily crash anyone's life, a business, an economy who do not handle the liquidity well enough.

I am very certain a more digitalized USD will play an ever larger role in the next decade or so, along with Bitcoin.

It would be nice if bitcoin price acted more like gold, that would have made the case for bitcoin as a digital currency and less of speculation.

I think you are way underestimating the potential of bitcoin.

The key for bitcoin is exist and be durable.
If everything works out, you have a monetary system that is independent of any regime in the world, and will outlast governments.

Even at this basic level, bitcoin is already ideal to just hodl till the end of time.
It's just a matter of what value it would be traded at.

Let's say USD as a world reserve currency has fallen and replaced by RMB, whos' to say RMB will last as long and won't make the entire global monetary system even more fragil.
At some point people would just want to hold something more durable.

Also I am a foreigner, I hold US stocks not only for the growth but also as a currency hedge. It makes perfect sense for me to hold bitcoin.

if you read Satoshi messages, from time to time he specifically criticized the entire history of gov debasing their fiat system.

Bitcoin, is meant to replicate something scarce like gold, in order to be consistent, predictable and fixed.
This also means that the bitcoin protocol move something of value.

While other tokens/coins on other blockchain specialized in developing utilities, Jack Mallers gave a really good point in the What Bitcoin Did podcast.
the USD doesn't need yield farming to be attractive for global investors to hold.

Since bitcoin is the base layer of money, it doesn't necessarily need defi to flourish, its existence itself is the ultimate selling point.

It really doesn't matter how other projects utilize blockchain as a tech, some are over shooting the moon, some may or may not work. But it's best to focus specifically on Bitcoin, the one that fundamentally is sound and long lasting.

I think blockchain tech would solve quite a few issues but I don't think it's world changing tech that we all think it is.

I simple cannot see web 3.0 working well if everyone needs to own a lot of tokens in order to interact with each other, it removes a lot of accessibility for people and honestly, unnecessary.
But I do think it will help a lot in some important areas, like anti censorship and more ways to interact with the web, better accessibility to financial services.

But bitcoin is the one I believe will change the world, it will change the entire geopolitical dynamics and how companies can raise capitals with the ordinary plebs.
Personally I think it has already done a lot of important job, which is to educate the general public about what exactly is money.

The volume outside US stock market has dropped, but this is probably a good thing.
lots of retailers are just waiting for the bottom, I suspect a recovery would be a few big green sticks for a few days and we will have more retailers going back in, and then the rest of the world jumping in again.

That being said, the biggest problem really is the entire market overall, equity market is suffering a lot as well and has been pretty poor for the past few months (if not year). A lot of growth stocks are still hurting BAD.

I understand Lightning network is meant to be for smaller day to day payment, fast and low fee etc.
But what exactly is the amount deemed small?

I can see if an amount too big, it could really mess up the channel's liquidity, is there an amount that the community agree on that's the limit I should use on lightning?

Like many have said, bitcoin real use case is being sound money.

Given enough time, it is more likely that fiat will collapse before bitcoin, because bitcoin has fundamentally sound structure, it can transact securely and globally traded (essentially that means every region of the world see value in it).

We don't know when that would happen, and before that, we will see bitcoin being even more accepted and more stores in the globe will want to accept bitcoin. We will see more applications build around bitcoin (it doesn't have to be on blockchain itself).

So bitcoin really has the biggest ambition in the entire crypto space, not defi, not gamefi.
imo all the defi activities are sort of testing ground for what can be possible, right now? It's just a place where people trade stocks A to stock B, not currency.

I used to split my portfolio into Bitcoin and Ethereum. Now I am only really keeping most of it in Bitcoin after the recent dip.

Bitcoin and Ethereum are very different crypto asset.
Bitcoin is here to replace the money market, while ethereum is more of an OS for blockchain apps to build on.

Investment wise, I believe there are plenty of alts to look at, there's gamefi/web 3.0/metaverse/defi/L1/L2 tokens everywhere that you can make good returns.

But look at Ethereum (which is supposed to be the better alt), Vitalik pretty much still lead the entire ecosystem forward, fee burn, changing POW to POS.
And look at solana CEO saying it doesn't matter if the blockchain is down again.
Another problem I have with Ethereum is that it doesn't really cost much to kickstart a project, and their potential gain is massive since they are the token issuer.
imo this type of investment is just not for me.

I escape into crypto because I thought crypto can be a way to escape from the reckless policies from central banks, decentralization, DAO etc.

When you look at bitcoin, the hard limit wouldn't ever change, small but important changes with more happening on lightning network etc.
Bitcoin isn't going to break, it is going to transfer bitcoin safely and securely and will only get better, and it doesn't go down.

I feel like bitcoin is just the safest play right now in terms of crypto, everyone underestimate the potential of a new asset class and the strongest one at that

Thanks! losing tor access would be pretty significant if I plan to run lightning imo.
Guess one more raspberry pi specifically for the USB sticks is better.
Do experienced miners recommend getting the btc payout directly to your own node?

Hi guys,

Would like to ask if it's ok to use a raspberry pi running bitcoin/lightning node, and connect the USB miners (with bitcoin merch USB hub) to it?
or is it recommended to have a separate raspberry pi for the miners?

Hi everyone, new here.

I am looking to run a really simple bitcoin/lightning node, as well as using these GekkoScience USB miners to make a tiny small bitcoin section on my shelf.

Since I haven't touched raspberry Pi before, I want to keep it as simple as possible.
My idea is to have mynode One, or raspberry pi with umbrel, and running GekkoScience Compac Fs, using the node's raspberry pi as an interface.

Is this doable? Or would I need a seperate raspberry pi for the gekkoscience USB miners?

Thanks!