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BNC public chain officially launched on March 19
According to the official BNC public chain, they will be launching synchronous on 19th March globally in nine countries (China, Malaysia, Thailand, Vietnam, Cambodia, Indonesia, Singapore, Philippines and Brunei) and 30 communities. This cause strong attention within the industry, especially attention to value and ecology of Proof-of-Capacity (PoC) from blockchain experts. Website and forum in Europe, America and Southeast Asia have a hot pursuit of BNC, hundreds of media vying for coverage. At the same time, attention of BNC is rising because of Proof-of-Capacity (PoC) technology development have a worldwide boom. https://preview.redd.it/jcseqh15cem41.png?width=559&format=png&auto=webp&s=cef25e0877980f50d7c565eff679c502be62b163 Easy to say, nature of PoC is mining through hard disk, PoW is mining through CPU (or graphics cards, ASIC, these are stronger computing chips, PoS is mining through the proportion of cryptocurrency holdings, while DPoS is voting to decide super node. https://preview.redd.it/c2kwytw8cem41.png?width=600&format=png&auto=webp&s=169a41f4c4577049ea799b61a14827b2f29fc715 Our main character today PoC has something in common with Bitcoin PoW, but there are some substantive differences. As we know, Bitcoin PoW requires miners to perform hash calculations continuously and repeatedly. miners need to run their computing chips with high intensity and consume extremely high power resources. BNC will change the pyramid situation that BTC facing at present: The high monopoly of the big mining farm caused the increasing centralization of mines leading to monopolization of large households and national policy pressures. Large electricity consumption and noise and heat from mining machines do not meet environmental restrictions in more than 159 countries so the whole mining was ruled by the elite. As a result, ordinary users can't participate in BTC's decision-making at all. BNC's ultimate dream is to focus on the pain of the existing market, achieve low threshold entry mining for everyone! Everyone mining! https://preview.redd.it/r3rl26vbcem41.png?width=436&format=png&auto=webp&s=1c3d1377febf5993b1158c24a8f5a0c961f15d4a Computing power cost is also one of the important indexes of mining revenue. Computing power cost include competition for performance and equipment, mining machine's computing power determined the day's mining earnings. Quality of PoW machine depends on computing power, but the higher the power, the higher the price. The impact of a mining machine worth tens of thousands on the return cycle is also significant. The greater the computing power, the greater the energy consumption. Electricity consumption of mining is staggering, so mining farm have to relocate to low electricity fees area, but a lot of power is wasted. By comparison, power consumption of BNC hard disk is lower, energy consumption is the same as running a computer. https://preview.redd.it/psbezjjecem41.png?width=640&format=png&auto=webp&s=95c88aa9241d184a46fd1a3525bdf2183137614e After the industry goes through the bull bear cycle, heat and cold alternate reshuffle period, PoC hard disk mining direction effect will become more and more obvious. Failure to focus on compliance, lack of quality asset-selection capabilities, lack of technology build-up and business innovation capabilities will be difficult to survive. BNC cling to the front of the times, each time the layout is only for better brilliance. At a time when the mature Internet is combined with blockchain, BNC will create a new wave of wealth, bring more investors to believe that everyone can mining, every investor in cryptocurrency is back at the top of wealth. BNC strive to build PoC hard disk mining, creating unparalleled wealth myths. https://preview.redd.it/f8s7yuogcem41.png?width=531&format=png&auto=webp&s=92785eb07805d4b9f3970f8303eaae81943e7f6a BNC knows that innovation can drive development and create new brilliance. BNC lets you experience the explosion of POC hard disk mining mode! If you have a dream, come to BNC to make your digital assets truly valuable!
[META] New to PC Building? - September 2018 Edition
You've heard from all your gaming friends/family or co-workers that custom PCs are the way to go. Or maybe you've been fed up with your HP, Dell, Acer, Gateway, Lenovo, etc. pre-builts or Macs and want some more quality and value in your next PC purchase. Or maybe you haven't built a PC in a long time and want to get back into the game. Well, here's a good place to start.
Make a budget for your PC (e.g., $800, $1000, $1250, $1500, etc.).
Decide what you will use your PC for.
For gaming, decide what games and at what resolution and FPS you want to play at.
For productivity, decide what software you'll need and find the recommended specs to use those apps.
For a bit of both, your PC build should be built on the HIGHEST specs recommended for your applications (e.g., if you only play FortNite and need CPU power for CFD simulations, use specs recommended for CFD).
Here are some rough estimates for builds with entirely NEW parts: 1080p 60FPS ultra-settings modern AAA gaming: ~$1,200 1440p 60FPS high/ultra-settings modern AAA gaming: ~$1,600 1080p 144FPS ultra-settings modern AAA gaming: $2,000 4K 50FPS medium/high-settings modern AAA gaming: > $2,400 It's noted that some compromises (e.g., lower settings and/or resolution) can be made to achieve the same or slightly lower gaming experience within ±15% of the above prices. It's also noted that you can still get higher FPS on older or used PCs by lowering settings and/or resolution AND/OR buying new/used parts to upgrade your system. Make a new topic about it if you're interested. Also note that AAA gaming is different from e-sport games like CSGO, DOTA2, FortNite, HOTS, LoL, Overwatch, R6S, etc. Those games have lower requirements and can make do with smaller budgets.
Revise your budget AND/OR resolution and FPS until both are compatible. Compare this to the recommended requirements of the most demanding game on your list. For older games, you might be able to lower your budget. For others, you might have to increase your budget. It helps to watch gaming benchmarks on Youtube. A good example of what you're looking for is something like this (https://www.youtube.com/watch?v=9eLxSOoSdjY). Take note of the resolution, settings, FPS, and the specs in the video title/description; ask yourself if the better gaming experience is worth increasing your budget OR if you're okay with lower settings and lowering your budget. Note that you won't be able to see FPS higher than 60FPS for Youtube videos; something like this would have to be seen in-person at a computer shop.
After procuring your parts, it's time to build. Use a good Youtube tutorial like this (https://www.youtube.com/watch?v=IhX0fOUYd8Q) that teach BAPC fundamentals, but always refer to your product manuals or other Youtube tutorials for part-specific instructions like CPU mounting, radiator mounting, CMOS resetting, etc. If it everything still seems overwhelming, you can always pay a computer shop or a friend/family member to build it for you. It might also be smart to look up some first-time building mistakes to avoid:
If you have any other questions, use the search bar first. If it's not there, make a topic.
BAPC News (Last Updated - 2018/09/20)
https://www.tomshardware.com/news/intel-9000-series-cpu-faq,37743.html Intel 9000 CPUs (Coffee Lake Refresh) will be coming out in Q4. With the exception of i9 (8-core, 12 threads) flagship CPUs, the i3, i5, and i7 lineups are almost identical to their Intel 8000 (Coffee Lake) series, but slightly clocked faster. If you are wondering if you should upgrade to the newer CPU on the same tier (e.g., i5-8400 to i5-9400), I don't recommend that you do as you will only see marginal performance increases.
https://www.youtube.com/watch?v=WDrpsv0QIR0 RTX 2080 and 2080 Ti benchmarks are out; they provide ~10 and ~20 frames better than the 1080 Ti and also feature ray tracing (superior lighting and shadow effects) which is featured in only ~30 games so far (i.e., not supported a lot); effectively, they provide +25% more performance for +70% increased cost. My recommendation is NOT to buy them unless you need it for work or have lots of disposable income. GTX 1000 Pascal series are still relevant in today's gaming specs.
The calculator part. More GHz is analogous to fast fingers number crunching in the calculator. More cores is analogous to having more calculators. More threads is analogous to having more filing clerks piling more work for the calculator to do. Microarchitectures (core design) is analogous to how the internal circuit inside the calculator is designed (e.g., AMD FX series are slower than Intel equivalents even with higher OC'd GHz speeds because the core design is subpar). All three are important in determining CPU speed. In general, higher GHz is more important for gaming now whereas # cores and threads are more important for multitasking like streaming, video editing, and advanced scientific/engineering computations. Core designs from both AMD and Intel in their most recent products are very good now, but something to keep in mind.
The basic concept of overclocking (OCing) is to feed your CPU more power through voltage and hoping it does calculations faster. Whether your parts are good overclockers depends on the manufacturing process of your specific part and slight variations in materials and manufacturing process will result in different overclocking capability ("silicon lottery"). The downside to this is that you can void your warranties because doing this will produce excess heat that will decrease the lifespan of your parts AND that there is a trial-and-error process to finding OC settings that are stable. Unstable OC settings result in computer freezes or random shut-offs from excess heat. OCing will give you extra performance often for free or by investing in a CPU cooler to control your temperatures so that the excess heat will not decrease your parts' lifespans as much. If you don't know how to OC, don't do it.
Intel CPUs have higher GHz than AMD CPUs, which make them better for gaming purposes. However, AMD Ryzen CPUs have more cores and threads than their Intel equivalents. The new parts are AMD Ryzen 3, 5, or 7 2000 series or Intel i3, i5, or i7 8000 series (Coffee Lake). Everything else is outdated. If you want to overclock on an AMD system, know that you can get some moderate OC on a B350/B450 with all CPUs. X370/X470 mobos usually come with better VRMs meant for OCing 2600X, 2700, and 2700X. If you don't know how to OC, know that the -X AMD CPUs have the ability to OC themselves automatically without manually settings. For Intel systems, you cannot OC unless the CPU is an unlocked -K chip (e.g., i3-8350K, i5-8600K, i7-8700K, etc.) AND the motherboard is a Z370 mobo. In general, it is not worth getting a Z370 mobo UNLESS you are getting an i5-8600K and i7-8700K.
CPU and Mobo Compatibility
Note about Ryzen 2000 CPUs on B350 mobos: yes, you CAN pair them up since they use the same socket. You might get an error message on PCPP that says that they might not be compatible. Call the retailer and ask if the mobo you're planning on buying has a "Ryzen 2000 Series Ready" sticker on the box. This SHOULD NOT be a problem with any mobos manufactured after February 2018. Note about Intel 9000 CPUs on B360 / Z370 mobos: same as above with Ryzen 2000 CPUs on B350 or X370 boards.
CPU Cooler (Air / Liquid)
Air or liquid cooling for your CPU. This is mostly optional unless heavy OCing on AMD Ryzen CPUs and/or on Intel -K and i7-8700 CPUs. For more information about air and liquid cooling comparisons, see here:
Part that lets all the parts talk to each other. Comes in different sizes from small to big: mITX, mATX, ATX, and eATX. For most people, mATX is cost-effective and does the job perfectly. If you need more features like extra USB slots, go for an ATX. mITX is for those who want a really small form factor and are willing to pay a premium for it. eATX mobos are like ATX mobos except that they have more features and are bigger - meant for super PC enthusiasts who need the features.
AMD Ryzen CPUs: go for X470s for Ryzen 7 and B450s for everything else. B350s will also work as a sub for B450 mobos and the same can be said for X370s for X470s, but they are being phased out and may require a BIOS update to support the Ryzen 2000 CPUs if it doesn't have a "Ryzen 2000 Series Ready" sticker on the box.
Intel Coffee Lake CPUs: go for Z370s for unlocked -K CPUs and B360s for everything else.
If you are NOT OCing, pick whatever is cheap and meets your specs. I recommend ASUS or MSI because they have RMA centres in Canada in case it breaks whereas other parts are outside of Canada like in the US. If you are OCing, then you need to look at the quality of the VRMs because those will greatly influence the stability and lifespan of your parts.
Part that keeps Windows and your software active. Currently runs on the DDR4 platform for new builds. Go for dual channel whenever possible. Here's a breakdown of how much RAM you need:
2x4GB = 8GB is the minimum recommended
2x8GB = 16GB recommended for gaming
2x16GB+ for workstations
AMD Ryzen CPUs get extra FPS for faster RAM speeds (ideally 3200MHz) in gaming when paired with powerful video cards like the GTX 1070. Intel Coffee Lake CPUs use up a max of 2667MHz for B360 mobos. Higher end Z370 mobos can support 4000 - 4333MHz RAM depending on the mobo, so make sure you shop carefully! It's noted that RAM prices are highly inflated because of the smartphone industry and possibly artificial supply shortages. For more information: https://www.extremetech.com/computing/263031-ram-prices-roof-stuck-way
Part that store your files in the form of SSDs and HDDs.
Solid State Drives (SSDs)
SSDs are incredibly quick, but are expensive per TB; they are good for booting up Windows and for reducing loading times for gaming. For an old OEM pre-built, upgrading the PC with an SSD is the single greatest speed booster you can do to your system. For most people, you want to make sure the SSD you get is NOT DRAM-less as these SSDs do not last as long as their DRAM counterparts (https://www.youtube.com/watch?v=ybIXsrLCgdM). It is also noted that the bigger the capacity of the SSD, the faster they are. SSDs come in four forms:
2.5" SATA III
M.2 NVME PCI-e
The 2.5" SATA form is cheaper, but it is the old format with speeds up to 550MB/s. M.2 SATA SSDs have the same transfer speeds as 2.5" SATA SSDs since they use the SATA interface, but connect directly to the mobo without a cable. It's better for cable management to get an M.2 SATA SSD over a 2.5" SATA III SSD. M.2 PCI-e SSDs are the newest SSD format and transfer up to 4GB/s depending on the PCI-e lanes they use (e.g., 1x, 2x, 4x, etc.). They're great for moving large files (e.g., 4K video production). For more info about U.2 drives, see this post (https://www.reddit.com/bapccanada/comments/8jxfqs/meta_new_to_pc_building_may_2018_edition/dzqj5ks/). Currently more common for enterprise builds, but could see some usage in consumer builds.
Hard Disk Drives (HDDs)
HDDs are slow with transfer speeds of ~100MB/s, but are cheap per TB compared to SSDs. We are now at SATA III speeds, which have a max theoretical transfer rate of 600MB/s. They also come in 5400RPM and 7200RPM forms. 5400RPM uses slightly less power and are cheaper, but aren't as fast at dealing with a large number of small files as 7200RPM HDDs. When dealing with a small number of large files, they have roughly equivalent performance. It is noted that even a 10,000RPM HDD will still be slower than an average 2.5" SATA III SSD.
SSHDs are hybrids of SSDs and HDDs. Although they seem like a good combination, it's much better in all cases to get a dedicated SSD and a dedicated HDD instead. This is because the $/speed better for SSDs and the $/TB is better for HDDs. The same can be said for Intel Optane. They both have their uses, but for most users, aren't worth it.
I recommend a 2.5" or M.2 SATA ≥ 250GB DRAM SSD and a 1TB or 2TB 7200RPM HDD configuration for most users for a balance of speed and storage capacity.
Part that runs complex calculations in games and outputs to your monitor and is usually the most expensive part of the budget. The GPU you pick is dictated by the gaming resolution and FPS you want to play at. In general, all video cards of the same product name have almost the same non-OC'd performance (e.g., Asus Dual-GTX1060-06G has the same performance as the EVGA 06G-P4-6163-KR SC GAMING). The different sizes and # fans DO affect GPU OCing capability, however. The most important thing here is to get an open-air video card, NOT a blower video card (https://www.youtube.com/watch?v=0domMRFG1Rw). The blower card is meant for upgrading pre-builts where case airflow is limited. For cost-performance, go for the NVIDIA GTX cards because of the cryptomining industry that has inflated AMD RX cards. Bitcoin has taken a -20% hit since January's $10,000+ as of recently, but the cryptomining industry is still ongoing. Luckily, this means prices have nearly corrected itself to original MSRP in 2016. In general:
Part that houses your parts and protects them from its environment. Should often be the last part you choose because the selection is big enough to be compatible with any build you choose as long as the case is equal to or bigger than the mobo form factor. Things to consider: aesthetics, case airflow, cable management, material, cooling options (radiators or # of fan spaces), # fans included, # drive bays, toolless installation, power supply shroud, GPU clearance length, window if applicable (e.g., acrylic, tempered glass), etc. It is recommended to watch or read case reviews on Youtube to get an idea of a case's performance in your setup.
Part that runs your PC from the wall socket. Never go with an non-reputable/cheap brand out on these parts as low-quality parts could damage your other parts. Recommended branded PSUs are Corsair, EVGA, Seasonic, and Thermaltake, generally. For a tier list, see here (https://linustechtips.com/main/topic/631048-psu-tier-list-updated/).
Wattage depends on the video card chosen, if you plan to OC, and/or if you plan to upgrade to a more powerful PSU in the future. Here's a rule of thumb for non-OC wattages that meet NVIDIA's recommendations:
1050 Ti: 300W
1060 3GB/6GB: 400W
1070 / 1070 Ti: 500W
1080 Ti: 600W
There are also PSU wattage calculators that you can use to estimate your wattage. How much wattage you used is based on your PC parts, how much OCing you're doing, your peripherals (e.g., gaming mouse and keyboard), and how long you plan to leave your computer running, etc. It is noted that these calculators use conservative estimates, so use the outputted wattage as a baseline of how much you need. Here are the calculators (thanks, VitaminDeity).
Pick ONE calculator to use and use the recommended wattage, NOT recommended product, as a baseline of what wattage you need for your build. Note that Cooler Master and Seasonic use the exact calculator as Outervision. For more details about wattage, here are some reference videos:
You might also see some info about modularity (non-modular, semi-modular, or fully-modular). These describe if the cables will come connected to the PSU or can be separated of your own choosing. Non-modular PSUs have ALL of the cable connections attached to the PSU with no option to remove unneeded cables. Semi-modular PSUs have separate cables for HDDs/SSDs and PCI-e connectors, but will have CPU and mobo cables attached. Modular PSUs have all of their cables separate from each other, allowing you to fully control over cable management. It is noted that with decent cooling and airflow in your case, cable management has little effect on your temperatures (https://www.youtube.com/watch?v=YDCMMf-_ASE).
80+ Efficiency Ratings
As for ratings (80+, 80+ bronze, 80+ gold, 80+ platinum), these are the efficiencies of your PSU. Please see here for more information. If you look purely on electricity costs, the 80+ gold PSUs will be more expensive than 80+ bronze PSUs for the average Canadian user until a breakeven point of 6 years (assuming 8 hours/day usage), but often the better performance, longer warranty periods, durable build quality, and extra features like fanless cooling is worth the extra premium. In general, the rule of thumb is 80+ bronze for entry-level office PCs and 80+ gold for mid-tier or higher gaming/workstation builds. If the price difference between a 80+ bronze PSU and 80+ gold PSU is < 20%, get the 80+ gold PSU!
Warranties should also be looked at when shopping for PSUs. In general, longer warranties also have better PSU build quality. In general, for 80+ bronze and gold PSU units from reputable brands:
These guys are engineering experts who take apart PSUs, analyze the quality of each product, and provide an evaluation of the product. Another great website is http://www.orionpsudb.com/, which shows which PSUs are manufactured by different OEMs.
Operating System (OS)
The most common OS. You can download the ISO here (https://www.microsoft.com/en-ca/software-download/windows10). For instructions on how to install the ISO from a USB drive, see here (https://docs.microsoft.com/en-us/windows-hardware/manufacture/desktop/install-windows-from-a-usb-flash-drive) or watch a video here (https://www.youtube.com/watch?v=gLfnuE1unS8). For most users, go with the 64-bit version. If you purchase a Windows 10 retail key (i.e., you buy it from a retailer or from Microsoft directly), keep in mind that you are able to transfer it between builds. So if you're building another PC for the 2nd, 3rd, etc. time, you can reuse the key for those builds PROVIDED that you deactivate your key before installing it on your new PC. These keys are ~$120. However, if you have an OEM key (e.g., pre-builts), that key is tied specifically to your mobo. If you ever decide to upgrade your mobo on that pre-built PC, you might have to buy a new Windows 10 license. For more information, see this post (https://www.techadvisor.co.uk/feature/windows/windows-10-oem-or-retail-3665849/). The cheaper Windows 10 keys you can find on Kinguin are OEM keys; activating and deactivating these keys may require phoning an automated Microsoft activation line. Most of these keys are legitimate and cost ~$35, although Microsoft does not intend for home users to obtain this version of it. Buyer beware. The last type of key is a volume licensing key. They are licensed in large volumes to corporate or commercial usage. You can find lots of these keys on eBay for ~$10, but if the IT department who manages these keys audit who is using these keys or if the number of activations have exceeded the number allotted on that one key, Microsoft could block that key and invalidate your license. Buyer beware. For more information on differentiating between all three types of keys, see this page (https://www.tenforums.com/tutorials/49586-determine-if-windows-license-type-oem-retail-volume.html). If money is tight, you can get Windows 10 from Microsoft and use a trial version of it indefinitely. However, there will be a watermark in the bottom-right of your screen until you activate your Windows key.
If you're interested in using MacOS, look into Hackintosh builds. This will allow you to run MacOS to run on PC parts, saving you lots of money. These builds are pretty picky about part compatibility, so you might run into some headaches trying to go through with this. For more information, see the following links:
Please note that the cost-performance builds will change daily because PC part prices change often! Some builds will have excellent cost-performance one day and then have terrible cost-performance the next. If you want to optimize cost-performance, it is your responsibility to do this if you go down this route! Also, DO NOT PM me with PC build requests! It is in your best interests to make your own topic so you can get multiple suggestions and input from the community rather than just my own. Thanks again.
Here are some sample builds that are reliable, but may not be cost-optimized builds. These builds were created on September 9, 2018; feel free to "edit this part list" and create your own builds.
Updated sample builds to include both AMD and Intel builds
Sorry for the lack of updates. I recently got a new job where I work 12 hours/day for 7 days at a time out of the city. What little spare time I have is spent on grad school and the gym instead of gaming. So I've been pretty behind on the news and some might not be up-to-date as my standards would have been with less commitments. If I've made any mistakes, please understand it might take a while for me to correct them. Thank you!
Bitcoin, dogecoin. How I tried to make my fortune in 2014 with the sweat of my computer.
https://preview.redd.it/mv21lvsa3do31.jpg?width=1280&format=pjpg&auto=webp&s=51bf5296a06eedc178079cf0b3ab4c3cfc44f271 Make money just by working on your computer: the rise of electronic currencies, in the wake of bitcoin, can be a little dream, especially in times of crisis. We tried the experiment. Wealth at your fingertips? Not for everybody. Reading time: 6 min. We have known at least since March 2013, with the soaring Bitcoin (BTC) price during the closing of Cypriot banks: electronic currencies, it has not much virtual. Since the creation of the enigmatic Satoshi Nakamoto serves as a safe haven, a playground for speculators, interests the States and even makes it possible to pay for his trip to the space where his beer, bigger world would dare to pretend that it only serves to buy prohibited substances on SilkRoad - if it ever was. At the end of November, James Howells was mocked a lot, this Brit, caught in a household frenzy, inadvertently threw a hard disk containing 7,500 bitcoins, the equivalent of 4.8 million euros. A small fortune now lost in the depths of the Docksway dump near Newport. Nevertheless, before causing the consternation of the global Internet, Jamie still had the nose to undermine the BTC at a time when the experience mobilized a handful of hardcore geeks. Since the rise (sawtooth) bitcoin, each unit currently weighs more than 800 dollars, nearly thirty cryptocurrencies have emerged. Is it possible, this year again, to let this promising, volatile and risky train pass, or to fall into
Choose your electronic motto.
All are based on the same principle: to summarize (very) big features , the issuance of money is governed by an algorithm, and the new corners put in circulation reward the resolution, by participants in a network of peer and mathematical problems, including the validation and archiving of transactions, which are public . Mining a cryptocurrency is like putting the computing power of your computer in the service of the network.
Since the program is decreasing , the mining becomes more and more difficult with time (and with the increase of the number of participants): to hope to make his pelote via the only computational activity, one must either have to at its disposal a large fleet of machines, to be a miner from the first hour. Exit the bitcoin, long since out of the reach of a personal computer.
I similarly gave up the litecoin and peercoin, already well launched (they date respectively 2011 and 2012), to set my heart on one of the most recent currencies - and certainly the hippest of the moment: the dogecoin.
As its name suggests, the cryptocurrency favorite Shiba Inus from around the world is a tribute to the Doge, one of the most famous memes of 2013, with its captions in Comic Sans, the font most sorry for the web. A geek joke, therefore, except that - the unfathomable mysteries of the Internet - its value jumped 900% in the third week of December, and she suffered a Christmas robbery online.
Admittedly, at the time when these lines are written, the dogecoin caps at 0.00023 dollars  - its quite ridiculous (and quite depressing), but even if you bet on the future, so much to go frankly.
2. The hands in the engine the billboard.
From there, things get tough (a little). Installing an electronic purse on ones computer is not very complicated (the software is available for Windows, MacOS, Android or, for the more adventurous, on a repository to compile under Linux). It is also possible to use an online wallet, but it is more risky (except, perhaps, when one is called James Howells). When opened for the first time, the purse automatically synchronizes with the Dogecoin network (be careful, it can be long), which gives you a payment address (we can generate more later).
The two most common ways to undermine electronic money are to use the computing power of the computers microprocessor (CPU) or, more efficiently, that of the graphics card processor (GPU). In the first case, the program is simple to install; in the second, it is necessary to choose the most adapted to its material . There are, thankfully, a lot of online tutorials. Still, to operate the corner board requires in all cases to trade the comfort of the GUI for aridity, so confusing to the layman, command lines - we have nothing for nothing.
Finally, at work alone, we prefer collaboration. Mining is best done in groups, or rather in pool: it distributes the gains, of course, but also the difficulty. For the dogecoin as for all the crypto-currencies, the pools are numerous. A quick tour of a dedicated section of the Reddit community site can help you make your choice.
3. Extension of the field of struggle.
And after? After, we can rest, since it is the machine that works. But the truth of a cryptocurrency - even at the exceptionally high LOL and LOL rates of the Shiba Inu - is cruel and brutal: not all computers are equal. Or rather, some are more equal than others. For while you heat your CPU or your graphics card to grapple some unfortunate corners, others will sweep the game thanks to specialized integrated circuits, computing capabilities much higher.
If the game of buying and reselling corners is basically just another stock exchange mechanism, less the intervention of the central banks - what is at stake, and the big political question they ask: are we certain to prefer speculation pure and perfect to monetary policies, however questionable they may be? -, production, it is the law of the strongest (in calculation). There are even lethal weapons at $ 10,000 each, with which your processors are like mosquitoes in front of an A bomb.
And if you think it does not matter because after all, it does not cost you anything, think again: the components, like humans, wear out faster when they work at full speed, and the bill of electricity can quickly grow. The profitability of the case is anything but certain, as evidenced by the results of online calculators. (Needless to say, our laughing dogecoin does not stand up to this kind of simulation.)
Much more boring, from a collective point of view: the carbon footprint, current and above all expected, of electronic currencies worries more and more. Last spring, Bloomberg estimated that the energy consumption of the Bitcoin network was equivalent to that of 31,000 US households. Not sure, according to the site, that their emission is less damaging to the environment than have been some physical currencies.
For exciting to analyze that is the emergence of cryptocurrencies, it is better to ask now about their cost, economic and ecological. To see it as a potential source of income, except for being a very early adopter with a hollow nose, an individual with a lot of computational capital or a clever trader, you have to make a point.
If the recurrent comparison with the famous Ponzi pyramid  is discussed (after all, the decentralized currencies do not make promises), remains that, as long as the value does not collapse, the system benefits mainly to the first entrants - except James Howells.
As the Bitcoin.fr site aptly states: all this is just an experiment, invest only the time and money you can afford to lose. LOLs love was not a worse reason than another to experiment, so I finally submitted my laptop to four days and three nights of intense activity, which makes me happy. owner of a good half a thousand dogecoins. Either the equivalent of 0.115 dollar, or 0.08 euro. It is obviously not worth the electricity consumed to generate them, it increases my carbon footprint, but it amuses my entourage. But laughter is, as everyone knows, a safe bet in times of crisis, less volatile than a real bitcoin.
And then, after all, you never know.
1. For explanations more provided (the case is quite complex), refer, for example, to the series of very detailed notes devoted to blogger Turblog.
2. And as such, searchable by everyone. It is the identity of the users that is not known, unless they reveal it, hence the reputation of anonymity (relative, therefore) cryptocurrencies.
3. In the case of bitcoin, the maximum of 21 million units should be reached around 2140.
4. For a day-to-day follow-up, see the CoinMarketCap site which lists the exchange rates of crypto-currencies, based on the dollar value of bitcoin.
5. We discover then, unfortunately, that some graphics cards do not allow the mining. This is the case for the author of these lines, reduced to working in conditions of extreme computer deprivation.
6. Comparison which is at the heart of a hilarious note on the ponzicoin, signed by the economic journalist Matthew OBrien, on The Atlantic (to read if you intend seriously to invest in the dogecoin).
Today I actually used the bitcoin for the first (and hopefully last) time. I'm gonna share my thoughts and experiences.
So very soon I'm gonna buy new pc and while doing backups of my current data I remembered that I have some old wallet with some btc on it. I went to check it out and indeed it had incredible amount of 0.00317220 btc which is what? Something like 30 bucks nowadays (should've cashed out during ATH, I'm a fool, lol). I got it in 2014, back then fees were nonexistant and the space was full of idiot believers and cultists trying to recruit new members to the cult with overwhelming positivity, love bombing, hype, typical anti state propaganda, blatant shilling and donations. That's right baby. In case you're new or don't remember, back then people were donating small amounts of bitcoin left and right just to get more people to try and get hooked. They were doing it for fun and they were doing it to get more fools into this game. I was one of them newcomers. 2014 OG HODLer. This was play money back then, a few bucks from pointless reddit tips. I took it to my wallet to check out how this "innovation" works out of curiosity. Since then I would look up bitcoin news once in roughly 6 months. Sometimes they were good like some hipster cafees would adopt bitcoin and a few stoners would use them, sometimes they were bad and since we saw all kind of bad here I don't even need to give examples. I never speculated on it or bought more because I was interested purely in its function as a currency of internet and its implications, not speculative value nor some dubious gains that can only be truly justified in hindsight and if you ignore the bagholders. Of course since then many things changed including my outlook on this whole circus, if you're interested my 'testimony' is here: https://www.reddit.com/Buttcoin/comments/85a6zn/be_honest_with_me/dvw45kp/?context=3 Since I found out I have roughly 30 USD in funbux and since as a PC gamer I really despise what idiot crypto space did to gpu market with their pointless irrational exuberance and idiotic waste of untold amounts of energy I decided to actually spend it. Because it fucked me already and made me spend much more on a graphic card that I should might as well get something back, right? Also the thought that my endless crypto abstinence would passively enrich those idiot, libertarian neckbeards is hurting my greedy human soul so fuck your 'donations to community' Satoshi. I'm ending my crypto celibacy. I'm going stop HODLing gasp and spend (and not replace). First roadblock. Steam no longer accepts bitcoin. Green man gaming supposedly accepted it in the past, not anymore though. NICE ADOPTION CURVE BRO. Thanks to the december-january bonanza the adoption is going backwards and the progress that was achieved through years of constant shilling and pestering bussinesses to accept bitcoin has been lost due to speculative mania, volatility and fees. This is good for bitcoin of course but not good for me, need a way out. I'm not gonna register on some shady exchange and give them all my data, my bank account, picture of my id and my dick and whatever else these fucking scammers want. Fuck that, we're decentralized and trustless baby, I'm gonna use my money without using "trusted" 3rd fucking party to get my money back in a practical way or this thing is truly useless. I look and find a website that offers games for bitcoin. The website is absolutely minimalistic, obviously no information about the company, some anonymous bastards that could be using stolen credit cards for all I know. Well, maybe not that bad, they've been up for years, I also found mentions of other websites that went dysfunctional over the years but not this one. Obviously I can't verify how they get their keys. Couldn't find any relevant information on google about them that isn't 3 years old. Once again nice adoption bro. I found one recent thread on reddit and was hopeful I will learn something useful in dedicated bitcoin reddit no less but... https://www.reddit.com/Bitcoin/comments/82ubjm/anyone_vouch_for_this_website/ Yeah, why would you want to spend your internet funbux on something? Buy the motherfucking dip bro. Currency of the future can wait, store of value here we come. Well what's the point of storing your value if you can't reliably unstore it at some point? Fuck that ideology, lol. Finally decided to risk it for the biscuit. My old wallet can't even connect to the network because it's too fucking old. Maybe that's good nobody will scam me due to some electrum vulnerability or something that was discovered some time ago. I'm not sure, I heard about it some time ago. Anyway I download new electrum and it automatically finds my wallet file, everything is recovered just fine, good. Now....how the fuck do I use that thing? That's right. 4 years of ironhanded HODLing took a toll on me, I forgot how to use the damn thing. Fortunately the UI is pretty self explanatory (for quite tech savvy user who already used it in the past mind you) after a while I figure things out, just had to change the valuation from mbtc to BTC. The way it displayed my balance I almost thought I have 3 bitcoins for a second, I chuckled. My balance is 0.00317220 BTC. game price is 0.0028 BTC ($23.75 USD). Needless to say it looks horrible and impractical and a had to check a few times because I have my btc in several addresses. Just imagine buying groceries with it. I discover there are more informational tabs in electrum, why the fuck they're hidden by default is beyond me, they seem pretty useful. Anyway if I were to guess the probability of my normie acquaintances finding this easy and useful it would be very low. Okay I select my game, decide to check out, now it's time to pay. The bitpay thingy is actually okay, when I copied the transaction url to the wallet it automatically filled everything out. Progress. Now...what the fuck is my password? Nice, I have my funbux that I hodled for a long time and can't spend it. And I can't generate new seed and make new wallet with my seed to bypass the password because I need password to create my seed. Catch 22. Obviously no customer support or email recovery for this one, lol. Thank god banks are not that autistic. Fortunately I find the password and seed as well in some old doc related to bitcoins in plain text (lol). Securitus maximus. Back then I was a complete noob, I can only imagine the hilarious opsec or lack thereof of fresh noobs in crypto. Use birdbath plebs. I finally have my password, return to the website and see that the bitpay transaction timer has gone from 15 minutes to 6 minutes. I get slightly nervous. "What if I send my money but the confirmation comes later? Will it work?". I do quick google and apparently it may cause problems and I may have to contact bitpay and do some stuff if it won't confirm within timer. Jesus what a chore. Instead I wait till the timer runs out. Make another attempt, use the high fee to be absolutely damn sure that my transaction will be confirmed in this block (7 sats calculated by wallet, paid 4312 sats so 1.3 dollar or something? Sure, not as crazy as January but still meh, is this the 4 year progress? Last time I used it was much less I think. Or maybe it's so high because the price is high? Whatever). I wait a bit and yes, success, my order is confirmed. Now I just have to believe I won't get scammed or I won't get wrong game or I won't get some shitty russian region locked key or whatever:
Your game(s) will be sent as soon as the order has been manually processed, which should take 8 to 9 hours.
Nice. Just wait 9 hours to be sure I'm not gonna get hosed by some internet no name company. Also manually processed? Is this 20th century or what? I bet their customer support is nonexistant or they have a designated emplyee who receives messages through contact form and laughs at the fools while copy pasting some bullshit. Currency of the future baby. Trustlessness fucking sucks for a customer like me. IT FUCKING SUCKS. It was a nice experiment though. I predict another 10 years of FUCKING SUCKING in regards to adoption too. Now a comparison how it worked when I bought steam games in the past with paypal. I go to steam (or other store, not much difference), choose pay with paypal. I pay with paypal. I get my motherfucking game. And that one time when I bought in other store when something actually gone wrong I resolved it with support quite quickly. Case closed. So to sum it up. I got a few bucks in tips from crypto cultists in 2014. HODLed with adamantium hands since then. Never spent, never cashed out, never surrendered to the temptation until now. Turned 2 bucks into something like ~27 atm. Got money for free. Then this money's buying power risen without any work on my part and without any company behind this token producing positive value, products, services etc. It just rose because people paid more for it. I Bought something with the money I never had and never touched worth more than I originally got for free. If that isn't the literal definition of infinite value I don't know what is. I'm sure it's 100% sustainable too. It's not like it took enough energy to power my household for 6 months (if digiconomist stats are to be believed) or maybe even more to validate the transaction of me buying one fucking game. This is the future, right? Now every time some salty butter will say I'm a stupid no coiner I can brag to them that they maybe had 100% gains or 1000% gains when they bought in early but my gains are literally infinite because I never had to even buy. Got 2 bucks for 0 effort, had it transmuted into 27 bucks like a motherfucking alchemist with a philosopher's stone (more during ATH, sucks to cash out late) with literally no effort. Best non-investment ever. Now all I need is for bitcoin to proportionally bubble once again so that I can use the change from this transaction to buy another game in another 4 years. Get to work my minions. Shill. I will update this thread later with information regarding whether I actually got what I paid for or not. Edit: Ok. I finally received the steam gift from random, obscure, anonymous, internet game store. Yay?! Would I like to repeat this type of transaction again, next time with my own money? Hell no. But it served as a cool experiment and reminder why customer service, banks and trusted parties are important. The fact that my money will undoubtedly reach some random anonymous people without trusted 3rd party wasn't giving me a libertarian boner (hold on, I used payment processor anyway, I think?) and being my own bank did not gave me comfort nor any satisfaction at all. The fact that my money is at someone else's mercy and if they want to they can just take it and never refund it was adding to the discomfort. It was mostly frustration and a chore. Trustlessness brings fear, unceartainty and doubt....in other words trustlessness is FUD and fiat is king, deal with it.
https://preview.redd.it/5r9soz2ltq421.jpg?width=268&format=pjpg&auto=webp&s=6a89685f735b53ec1573eefe08c8646970de8124 What is Bitcoin? Bitcoin is an experimental system of transfer and verification of property based on a network of peer to peer without any central authority. The initial application and the main innovation of the Bitcoin network is a system of digital currency decentralized unit of account is bitcoin. Bitcoin works with software and a protocol that allows participants to issue bitcoins and manage transactions in a collective and automatic way. As a free Protocol (open source), it also allows interoperability of software and services that use it. As a currency bitcoin is both a medium of payment and a store of value. Bitcoin is designed to self-regulate. The limited inflation of the Bitcoin system is distributed homogeneously by computing the network power, and will be limited to 21 million divisible units up to the eighth decimal place. The functioning of the Exchange is secured by a general organization that everyone can examine, because everything is public: the basic protocols, cryptographic algorithms, programs making them operational, the data of accounts and discussions of the developers. The possession of bitcoins is materialized by a sequence of numbers and letters that make up a virtual key allowing the expenditure of bitcoins associated with him on the registry. A person may hold several key compiled in a 'Bitcoin Wallet ', 'Keychain' web, software or hardware which allows access to the network in order to make transactions. Key to check the balance in bitcoins and public keys to receive payments. It contains also (often encrypted way) the private key associated with the public key. These private keys must remain secret, because their owner can spend bitcoins associated with them on the register. All support (keyrings) agrees to maintain the sequence of symbols constituting your keychain: paper, USB, memory stick, etc. With appropriate software, you can manage your assets on your computer or your phone. Bitcoin on an account, to either a holder of bitcoins in has given you, for example in Exchange for property, either go through an Exchange platform that converts conventional currencies in bitcoins, is earned by participating in the operations of collective control of the currency. The sources of Bitcoin codes have been released under an open source license MIT which allows to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the software, subject to insert a copyright notice into all copies. Bitcoin creator, Satoshi Nakamoto What is the Mining of bitcoin? Technical details : During mining, your computer performs cryptographic hashes (two successive SHA256) on what is called a header block. For each new hash, mining software uses a different random number that called Nuncio. According to the content of the block and the nonce value typically used to express the current target. This number is called the difficulty of mining. The difficulty of mining is calculated by comparing how much it is difficult to generate a block compared to the first created block. This means that a difficulty of 70000 is 70000 times more effort that it took to Satoshi Nakamoto to generate the first block. Where mining was much slower and poorly optimized. The difficulty changes each 2016 blocks. The network tries to assign the difficulty in such a way that global computing power takes exactly 14 days to generate 2016 blocks. That's why the difficulty increases along with the power of the network. Material : In the beginning, mining with a processor (CPU) was the only way to undermine bitcoins. (GPU) graphics cards have possibly replaced the CPU due to their nature, which allowed an increase between 50 x to 100 x in computing power by using less electricity by megahash compared to a CPU. Although any modern GPU can be used to make the mining, the brand AMD GPU architecture has proved to be far superior to nVidia to undermine bitcoins and the ATI Radeon HD 5870 card was the most economical for a time. For a more complete list of graphics cards and their performance, see Wiki Bitcoin: comparison of mining equipment In the same way that transition CPU to GPU, the world of mining has evolved into the use of the Field Programmable Gate Arrays (FPGA) as a mining platform. Although FPGAs did not offer an increase of 50 x to 100 x speed of calculation as the transition from CPU to GPU, they offered a better energy efficiency. A typical HD/s 600 graphics card consumes about 400w of power, while a typical FPGA device can offer a rate of hash of 826 MH/s to 80w of power consumption, a gain of 5 x more calculations for the same energy power. Since energy efficiency is a key factor in the profitability of mining, it was an important step for the GPU to FPGA migration for many people. The world of the mining of bitcoin is now migrating to the Application Specific Integrated Circuit (ASIC). An ASIC is a chip designed specifically to accomplish a single task. Unlike FPGAs, an ASIC is unable to be reprogrammed for other tasks. An ASIC designed to undermine bitcoins cannot and will not do anything else than to undermine bitcoins. The stiffness of an ASIC allows us to offer an increase of 100 x computing power while reducing power consumption compared to all other technologies. For example, a classic device to offer 60 GH/s (1 hashes equals 1000 Megahash. 1GH/s = 1000 Mh/s) while consuming 60w of electricity. Compared to the GPU, it is an increase in computing power of 100 x and a reduction of power consumption by a factor of 7. Unlike the generations of technologies that have preceded the ASIC, ASIC is the "end of the line" when we talk about important technology change. The CPUs have been replaced by the GPUs, themselves replaced by FPGAs that were replaced by ASICs. There is nothing that can replace the ASICs now or in the immediate future. There will be technological refinements in ASIC products, and improvements in energy efficiency, but nothing that may match increased from 50 x to 100 x the computing power or a 7 x reduction in power consumption compared with the previous technology. Which means that the energy efficiency of an ASIC device is the only important factor of all product ASIC, since the estimated lifetime of an ASIC device is superior to the entire history of the mining of bitcoin. It is conceivable that a purchased ASIC device today is still in operation in two years if the unit still offers a profitable enough economic to keep power consumption. The profitability of mining is also determined by the value of bitcoin but in all cases, more a device has a good energy efficiency, it is profitable. Software : There are two ways to make mining: by yourself or as part of a team (a pool). If you are mining for yourself, you must install the Bitcoin software and configure it to JSON-RPC (see: run Bitcoin). The other option is to join a pool. There are multiple available pools. With a pool, the profit generated by any block generated by a member of the team is split between all members of the team. The advantage of joining a team is to increase the frequency and stability of earnings (this is called reduce the variance) but gains will be lower. In the end, you will earn the same amount with the two approaches. Undermine solo allows you to receive earnings huge but very infrequent, while miner with a pool can offer you small stable and steady gains. Once you have your software configured or that you have joined a pool, the next step is to configure the mining software. The software the most populare for ASIC/FPGA/GPU currently is CGminer or a derivative designed specifically for FPGAS and ASICs, BFGMiner. If you want a quick overview of mining without install any software, try Bitcoin Plus, a Bitcoin minor running in your browser with your CPU. It is not profitable to make serious mining, but it is a good demonstration of the principle of the mining team.
WHICH CRYPTOCURRENCIES TO MINE – BETTER BITCOINS OR OTHERS? Before revealing which cryptocurrencies to mine, let´s disciss first, what Cryptocurrencies are. Cryptocurrencies are virtual currency units that are becoming increasingly popular as a means of payment. Making the right choice is necessary to mine cryptocurrency profitably in 2018. Many new cryptographic currencies have appeared lately. Nowadays, it’s no longer necessary to use only Bitcoin, even if the cryptocurrency is one of the most popular with a high value. It’s almost impossible to mine them without the help of special equipment. Another point to consider is how to handle mining multiple cryptocurrency types. They are not inaccessible at their asking price and can be mined without any particular difficulties. Even with an everyday computer, mining efforts can yield impressive results. As you can see, there are more possibilites about which cryptocurrencies to mine. Of course, you can also mine Bitcoins on your laptop, but doing so is inefficient and unprofitable. However, it’s important to show caution when choosing which cryptocurrencies to mine. Which cryptocurrencies to mine? Make the Right Choice Don’t look at the current price of the cryptocurrency, but rather how easy it is to mine and what profit projections look like. For example, if it grows in price, it will be able to recover the investments spent on its extraction. In addition, the choice of cryptocurrency and mining service depends on whether it is possible to withdraw funds. Which cryptocurrencies to mine? The Best Cryptographic Currencies for Mining Everyone is interested in simple but profitable ways of making more money, even when this money has a virtual format. However, if the currency can be exchanged for real money, it means that a real deal is to be had and deserves special attention. These currencies can be assigned to several virtual delegates. This article aims to uncover the most promising cryptographic currencies online today. They can be mined from virtually any device, including a conventional computer, provided it has a sufficient processor speed and an appropriate graphics card. It’s important to remember that the choice of graphics card is a rather vital matter, due to the fact that using a video card was abandoned during Bitcoin mining. It simply became too expensive. As a result, income from mining is practically lost against the background of costs. This article outlines the most promising alternatives that are beneficial for planned 2018 cryptocurrency mining. Which cryptocurrencies to mine? A Selection of Popular Cryptocurrencies Ethereum. This currency still seems like an heir of Bitcoin, but it is growing incredibly quickly. It only cost 40 dollars at the beginning of 2017, and 893 dollars one year later. But currency is unstable and this must be recognized. There are inherent leaps in the price – if it costs more than $800 dollars today, the price may drop to $600-700 tomorrow. Therefore, you should consider whether this currency is worth it before investing in mining. Lightcoin. Another very interesting choice for mining. The cost of this cryptocurrency won’t make you sweat, with modest prices of £250 per piece. The competition in the mining of this cryptocurrency is minimal, which makes mining it relatively easy. In addition, experts say that Lightcoin is the most stable currency available and its exchange rate is subject to minor jumps. Dash is a promising currency was added to the rating recently. This is one of the youngest options out there, but it has already received plenty of attention. Experts say that it has a chance to grow to several thousand dollars. Consider that the asking costs were $11 just a few months ago, yet are an impressive $1,165 today. Each of these cryptocurrencies can be described as the most profitable choice for mining, but only thorough practice will show whether this is truly the case. What Crypto-Based Currencies Actually Mine? Some will say that mining in 2018 is no longer profitable and many will agree with this statement. However, the validity of this ultimately depends on the choice of currency you’re focusing on. Bitcoin Mining is certainly no longer profitable, but what other options are out there? Turn to the service website “WhattoMine.com” for more input on which cryptocurrencies to mine. This service is specially designed for those working in mining. It allows you to calculate the most profitable cryptographic currency that you can with your graphics card or ASICs. On the page, select which type of hardware (graphics card or ASICs) you are using, then enter the correct information in the requested fields. Performance of your equipment, including hashing speed and energy consumption, are essential pieces of info that need to be entered. When done, hit “Calculate” and you will get information about how much you can earn if you mine this or that – which cryptocurrencies to mine. Cryptocurrencies to mine – Mining On What? CPU (mining on the processor). Given the current complexity, such a mine is no longer profitable. Mining on the operative memory, for example, if the currency uses the encryption algorithm Scrypt. You could mine, but it’s not really very profitable nowadays. GPU (Mining on the graphics card). The disadvantages of this method are quite great. The energy consumption and the price of a good graphics card are pricey, but despite these disadvantages, this type of mining is by far one of the best options out there. For example, in comparison to the same mining on the ASICs, you can always sell on the graphics card at a good price. There is always a demand and in the case of damage, it can be replaced during its warranty period. The best graphics card for mining is the GTX 1070 with 28 Mh/s, along with cheaper versions like the RX 470 and 480. ASICs (Application Specific Integrated Circuits). These units have been specially developed for the mining of cryptocurrencies. However, the high costs and the high risks are a downside, since they are difficult to repair in the event of damage. This is the conclusion about which cryptocurrencies to mine.
[modpost] Possible wiki page, something I call "All about miners," covering things from basic terminology to miner config files and overclocking.
What is a miner? A miner is a computer set up to solve cryptographic hashes in the litecoin network. Once a clump of these hashes, or a block, is mined, litecoins pop out! It's like opening a box of chocolates, except you know what you're gonna get :) Miners also handle transaction confirmations, making sure no single coin is double-spent. Setting up your computer to be a miner What kind of computer do I need? Optimally, you'd have a good power supply and a couple decent Radeon/ATI/AMD graphics cards. Because of litecoin's hash algorithm, the gap between mining with graphics cards and processors is less than with most other cryptocurrencies, meaning that mining with some desktop processors may be worth it after electricity costs. Note that mining with laptops is not recommended because of the heat generated by mining, and mining with NVIDIA graphics cards may not be worth the cost. How do I know if litecoin mining will be profitable for me? First, check how fast you'll be mining with your hardware, how many litecoins you'll mine in a day, and how much litecoins are worth. Now, multiply the number of litecoins per day by their worth. Then, find out the power draw of your hardware, and calculate energy cost. Then finish by subtract energy cost from your daily earnings. If your number is positive, you're making that much money per day. If negative, you're losing money. Keep in mind that the worth of litecoins goes up/down, and you have to earn the cost of your hardware before you churn a profit. Mining difficulty also goes up/down, depending on how many people are mining how fast in relation to how many litecoins are supposed to be generated how fast. See the economics(coming soon) post for more info. Okay, I did all that. How do I start? All you have to do is download a program and change some settings (later in the guide), and you're ready to go. If you're comfortable with configurations and the command line, Reaper and cgminer are your best friends. Otherwise, GUIMiner-scrypt is right for you. If you want to mine on your processor, download the "batteries included" miner via this link and setup should be relatively self-explanatory. Do I mine alone? Due to the difficulty of mining, we recommend that you mine with a pool where multiple people mine together. Visit your pool's about or help page for proper miner settings, which we're about to get to in-depth! Under the hood Configuring your miner (aka the hard part) Before we get started, you should become familiar with these terms:
host: Your pools website
port: The internet port your computer uses to connect to your pool
worker: Anything that mines is a worker. Just a way for you and your pool to keep track of what's mining how.
user: In mining programs, the user is the name of your worker, which by default tends to be poolusername.1 or poolusername_1, _2, etc.
pass: Password for your worker, NOT your pool password. This can usually be anything.
None of those will have any affect on how fast you mine. The settings that we'll be focusing on are:
worksize: Exactly what it sounds like
thread-concurrency: Setting that involves computations happening simultaneously
vectors: Involves how memory is used
aggression/intensity: How aggressively your computer mines
threads_per_gpu: How many threads of data to process on a GPU, like threads of a CPU. Anything beyond 1 usually doesn't increase hashrate on modern cards.
device: First GPU is device 0, second is device 1, etc.
If you're using GUIMiner-scrypt, there are default settings for different cards (lower right dropdown). I'm mining on a 7870. Here is what it looks like for me. You can follow along with the rest of this guide to optimize your settings. GUIMiner-scrypt is just a GUI to cgminer and reaper anyways. If you are using a command-line miner, like reaper and cgminer, I recommend you download and isntall Notepad++ or SublimeText if on Linux. Reaper is currently considered to be the best tool for mining. After you unzip your downloaded file, in the folder you'll find reaper.conf. It should look something like this:
As you see, my thread concurrency is slightly different from the default of GUIMiner-scrypt. I found that this concurrency gives me the best hashrate! NOTE: I do not use cgminer to mine litecoin. If you plan on using cgminer, which offers more hardware-controlling settings, in the cgminer folder you will want to create a text file. Then, open that text file w/ Notepad++ or SublimeText, then Save As > cgminer.con > file type > all. This will save the file with the proper name and as the proper type. Note that cgminer does not support high concurrencies. For me, cgminer.conf would look something like:
You saw some settings similar to what we saw in Reaper's litecoin.conf. The other settings have to do with my card's clocks, voltage, and fan. This is covered in the overclocking section right below! Overclocking (aka the risky part) Okay, first off I'm not responsible if you cause damage to your parts. Please research safe overclock settings for your card. Second, don't be afraid. Modern hardware has many safety features in place that help prevent mayhem like me...lol jk this isn't a car insurance add. For your better understanding, become familiar with these terms:
Voltage/vddc: Amount of electrical current supplied to your card
Power Limit: Determines at what temperature your card throttles itself
Core Clock: Speed of your memory's core, similar to CPU core clocks
Memory Clock: Speed of GPU's GRAM, similar to RAM speed
Fan speed (%): Determines the RPM of your fan once your card reaches certain temperatures.
No one setting controls how effectively you mine; what matters most when it comes to clocks is the ratio between your core/memory clocks. Generally, a ratio of 0.7 or below is best. You will need to experiment. If you're using cgminer, you can control card settings from the conf file. However, if you aren't, I recommend using MSI Afterburner as your overclocking tool. You will need to unlock some settings. Using my cgminer settings, MSI Afterburner looks like this. I have found these settings to be the most stable while bringing me a high hashrate. Other people's optimum settings You can check the sidebar for the hardware comparison chart, but it is rarely updated and has huge sways in results. It is a good starting place. The mods of this subreddit will be putting together an updated, more accurate list in the near future. END I hope all things go smoothly for you and that you've learned a lot! Please consider donating LTC to My wallet: LiD41gjLjT5JL2hfVz8X4SRm27T3wQqzjk The writer of the [Consolidated Litecoin Mining Guide] which helped get me started The writer of the [Absolute Beginner's Litecoin Mining Guide] which also helped me get started
Am I missing something? Hardware investment vs Currency investment
EDIT: I understand that BFL products are on back order, and upon ordering now I probably won't have them for 60-120 days. That is a risk I will accept, and it doesn't fundamentally change my question. It will certainly change the math behind it, though, and as I'm still quite fledgling in this, I'm interested to hear the estimates of those who have more research. Things like the estimated growth in difficulty due to hash increase (current total power + sum of all BFL preorders would be a good start), next specific decrease in BTC per block, etc. which I will research further once I'm off work. EDIT2: Found the missing parts: underestimating the increase in difficulty at the time I am likely to recieve hardware from BFL due to overestimating the timely arrival time of BFL hardware. I am thinking more that the investment (~$3-5000) I wanted to make would be better spent redistributed a few different ways (All of these would be preceeded with more research):
Maybe 1-2 Jalep's on preorder depending on how fast BFL's fulfillment continues to progress over the next couple weeks
~$1000 in BTC, for starters, sometime within the next week; as difficulty increases and BTC continues to gain acceptance as a currency, potential for good return seems to exist.
An ATI Graphics card I can use for gaming right now that I can use for BTC mining during work/sleep. I game a lot, and I opted for one strong nVidia GPU when I built my system, so I've both got room for and will make use of another card. After a quick bit of research it looks as though mixing nV + AMD cards is not a problem.
I'd heard about bitcoin before, but hadn't really done any research until a couple days ago. I've been looking to invest some spare cash (I already have a Roth and 2 other IRAs, plus a savings net). So far based on all the calculations I've done, BFL bitcoin hardware will pay for itself even at conservative estimates, like this: Using the bitcoinx profit calculator I simulated a 4-fold increase in difficulty (as ASIC systems become more widely distributed) by taking the block reward from 25 to 6.25 BTC. Further, I took the value to 75 USD/BTC, and the hash rate to 90% efficiency. The GH/s per $ is pretty equal across the BFL product line, and with these numbers the hardware breaks even at ~99 days. At present I do not pay for my own electricity. However, I've found that adding electricity costs makes relatively little difference even at wildly exaggerated consumption values. Using 1KW at @ $0.1 per KWh (approximately equal to leaving your microwave on all day, or your clothes dryer on for 6-10 hours per day) only added 10 days to break even time. What am I missing? Why are so many people suggesting that others just buy bitcoins? Is that coming from only a vocal minority trying to keep others out of the game to help their hardware investment stay profitable? No hate on that by the way--It makes sense. I'm honestly just asking. I'm interested in BTC for the sake of watching an alternate currency and tracking an investment. However, if there isn't something missing here, all those suggesting buy-in for the past months--and it's been months of people saying the same thing: "it used to be good, but you'd better just buy in now"--aren't looking at the numbers. Related tangent, inquisitive: why does the bitcoinx mining hardware comparison page show 30.2/46.2/46.1 for the BFL products' MH/s/$ value? Those numbers don't add up.
I ordered this graphics card and I saw the saphire alternative on this site to see that it has a 27.0 Mhash/s rating. Assuming the conversion from Mhash to Khash is the same from megabytes to kilobytes, I could easily see that got.... 27,000 Khash??? that doesn't see right because that means according to this calculator that would mean I was making over 15 litecoin per day. I seriously doubt it is this easy to produce these. I'm sorry for sounding like an idiot. It's late and I probably am off by a couple zeros.
I've been reading extensively on bitcoin for the past few days and there are a few holes here and there that I'm trying to understand. So far it makes me believe that this whole mining thing is some sort of elaborated scam. Here is a few unorganized points that are confusing to me. Why are other currencies like litecoin slowly becoming popular and why people want them to become popular? What purpose do litecoin serves that bitcoin doesn't? If the second to bitcoin, a redundant currency like litecoin becomes popular and that people want it to become popular, then what's stop more of those currencies to all becoming popular making each of them just spammy/redundant at the end, don't we only need one of those currencies to serve the purpose of worldwide decentered transactions? The so popular and referred mining hardware comparison sheet gives a list of videocard that are recommended to use. Combined with this calculator people can make some calculations to see if they should invest electricity cost into mining. Now it seems to yield a little free income at the end of the month, all seems well until you investigate further. The power consumption of your videocard shown there is, in the radeon 6850 case, only half of what it truly use at full usage. Now to add to this, I've been mining for more than a day at full power without stopping nor interfering in the process. It tells me I should be making 0.0125 bitcoin a day but I barely made half of that in a bit more than a day, yet I am positive the videocard ran at full strength for the whole process. Now, double electricity cost vs half production, it becomes almost a profitless operation. To this, combined that the current bitcoin value is tenfold what it was 3 months ago, how could it have been profitable back then if it is not right now? Now another suspicious part to me is those 2 websites 12. They offer what every person would ever want, a way to make a lot of money easily. Both of them deliver their products months after purchase and, the 2nd website especially, is selling something that would potentially pays for itself back in less than a month, after which huge profit would come in. How convenient, to sell something that yields huge profit and pays itself back so quickly, better sell than use ourselves right? The first site has sold out, and funnily enough are selling the next batch for 75 bitcoin per... which they could just mine themselves faster than their delivery time, so what's their gain really? Conveniently we have the 2nd website, not sold out, selling something similar to the 1st website, without any pictures of what the behind of their miner looks like, who won't mention anywhere the power consumption of their product but say that it comes with a usb cord, plug and play! That sure not sound fishy at all since the asic counterpart is shown on the comparison sheet as using 600 W, for sure the usb connector hole can output that kind of power right? Hopefully someone can shed some light on all this to the better understanding of least common asked matters, yet quite important for anyone who wants to jump in this... bandwagon... I'm legitimately trying to see things optimistically but so far I only see a few root members trying to scam the entire world by projecting this half legit currency world unto us. Note: sorry for my relatively poor english, I tried putting my thoughts into word as precisely as I could, but I couldn't do it as well as I wish I could.
Imagine a user that is coming from the Bitcoin world. The user is aware of Bitcoin basics and how it works in general. They've recently heard about Litecoin and would like to learn more about it and try it for themselves. The user is trying to decide if Litecoins are a viable option. This user might continue to use Bitcoin but with their newly gained knowledge they have the option of using Litecoin for any transactions they deem appropriate. What kind of information would be useful for their transition as an end user? ....... Here are some starters: 1) Comparison between Litecoin and Bitcoin
Start with reading the wiki page about the differences between Litecoin and Bitcoin
2) Buying Litecoins
The easiest way to buy Litecoins is to purchase Bitcoins then use an online exchange to convert to Litecoins.
I'm not aware of any lightweight clients that are available for Litecoin. I've seen there was an Electrum client but it looked out of date and the last time I ran it there were no servers to connect to. For now the safest option is to use the official Litecoin-Qt client and this requires downloading the whole blockchain. The user could also try a paper wallet for additional security. There are a few online wallets, but those are always risky.
5) Armory client is not available
The Amrory client isn't compatible with Litecoin. At one point there was a bounty to add support for Litecoin but I don't know if any progress was made. For now the only client that is recommended is the Official Litecoin client downloaded from litecoin.org
6) The transaction fees are calculated differently between Litecoin and Bitcoin.
I don't know the specifics but this is one of the cases where Litecoin starts to diverge from Bitcoin. The minimum transaction fee for Litecoin is .02 LTC compared to the minimum transaction fee for Bitcoin of .0005 BTC.
7) You cannot use Bitcoin ASIC mining hardware to mine Litecoins
Bitcoin ASICs are built for SHA256 hashing. Litecoin uses Scrypt so it isn't simply plug and play. The ASIC hardware would require additional memory among other things.
8) Mining Litecoins using CPUs isn't cost effective
Mining efficiently requires some investment in equipment, namely several high end graphic cards. Your old laptop will not be able to mine a single LTC in months, because the network is mature and thus the mining difficulty is high.
9) Mining Litecoins using your laptop is not recommended
You can easily damage your laptop and cause it to overheat
10) Accepting Litecoin as payment on your website
Use services such as Kojn (beta invite required) and LTCPP (soon) for your Litecoin payment processing needs.
11) Block explorers
There are currently no block explorers with built in wallet functionality like blockchain.info.
Head over to LTC-GLOBAL to purchase and trade stocks and bonds in exchange for your Litecoins.
A warning message copied directly from the site "This site is currently in beta. Nothing is verified. Everything is virtual. Do your homework. Watch out for scams. Be diligent."
TLDR; A user knows about Bitcoin and is starting into Litecoin. Any useful information for the transition? EDIT: making edits as useful information is posted. Input has been provided by: lastgen, -Mahn
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