BitFury to Release Light Bulbs that Mine Bitcoin in 2015
Some Miners Generating Invalid Blocks - Bitcoin
What is Bitcoin Mining? How Does it Actually Work? (2020 ...
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Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no one in charge of bitcoin and it is made up of willing participants. Bitcoin gives you the option to be your own bank.
@aantonop in Summer 2015(15 minutes in) “Centralistaion in ASICs is not a problem because [they] make too much money or because we want to change who controls the network. It’s a problem because […] the mining can be shifted to an organisation that doesn’t have bitcoin’s best interest in mind.”
How I bought 1 BTC making $15 an hour after 2 years!
It all started,
In late 2015 when I first started mining Bitcoin when I first downloaded Miner gate. After installing it and still couldn't figure out how to move it to my own wallet, I just gave up for about a year or so. It was still too complex at the time to use. I only mined about $100 bucks or so. 2017 rolls around, BTC starts going crazy. I started investing JUST before the $20K ATH. As 2018 starts, it pretty much went downhill from there. However I never gave up because I knew Bitcoin was something special and unlike any other asset. All throughout 2018 I did all the wrong things you should never do as an investor. I bought at the ATH, I caught a falling knife and bought bitcoin literally as I watched it go from $20K, $15K,$10K, and down to the months long slog at $3,000. I even tried trading and buying Altcoins and lost even more money. When BTC was stuck down there, thats when I was buying the most. Even when nobody was making youtube videos anymore and nothing but FUD left and right, I was still buying. Mostly because I heard a bunch of youtubers say "buy when there is blood in the streets" so that's exactly what I did. Keep in mind I had never invested in a stock my entire life at this point.
The Key method of how I got 1 BTC
Dollar cost Averaging That is the key. Every single week I got paid it was only about $500 a week. Since I lived with my mom and only paid half rent, every two weeks I got paid I would buy exactly 0.01 BTC (put another way, I bought 1% of a bitcoin every 2 weeks). Regardless of the price I would invest. Since 2018 was a bear market, It was getting cheaper and cheaper every single week. When it was $3000, It was so cheap that 0.01 BTC was like $30 or $40 a piece so I bought like 3 or 4%(0.03 BTC) every 2 weeks. Since there is 52 weeks in a year, by the time 2019 rolled around, I already had roughly 65% of a Bitcoin. 2019 was half bear and half bull market but still I stuck to my guns and no matter what every paycheck I bought 0.01 BTC regardless of price. Now by the time 2020 rolled around I had exactly 97% of a BTC. It was only this year That I had finally gotten to 1 BTC! I heard Charlie lee say a long time ago to stay away from Altcoins until you have 1 BTC and that is exactly what I did. After the pandemic started, I then started buying Ethereum 0.2 ETH a paycheck and I now have multiple ETH. I just wanted to tell my story of how I got 1 BTC and hopefully inspire others to get invested. I don't know if what I did was luck or skill, but the key thing is to stay consistent. If you water a plant every single day eventually you will get the fruit.
@aantonop in Summer 2015(15 minutes in) Centralistaion in ASICs is not a problem because [they] make too much money or because we want to change who controls the network. Its a problem because  the mining can be shifted to an organisation that doesnt have bitcoins best interest in mind.
With the tons of news coming out lately I've decided that we lack some kind of summary to check up week by week. So I present you "Crypto week in a nutshell Pt. 1" where I try to summarize whole weeks worth of crypto news in a small bite size chunks each friday. I hate long introductions so let's start this one up.
$1B of Bitcoin from Silk Road wallet moves for first time since 2015
An anonymous crypto user moved 69,370 Bitcoin from an address associated with the Silk Road darknet market, with a prior 1 BTC test transaction. Later on found out that the US authorities seized the funds from an unknown hacker who had gained access to them. The seizure takes a swath of the digital cryptocurrency out of circulation at least temporarily. In the past, federal authorities have auctioned off seized Bitcoins, but usually months after acquiring them.
TRON Main-net Suffers Attack, Brings Block Production to a Halt
Strapped for international currencies, Iran is turning to cryptocurrency to allow imports to continue to flow.
The Iranian government has adopted bitcoin and possibly other mineable cryptocurrencies for international trade as the country’s economic crisis deepens, with rising Covid-19 cases, depreciating rial, and intensifying sanctions imposed by the U.S. government. Notable that law seems to work only on currencies that are mined locally and are presented by local miners directly to Central Bank of Iran. Notable is that energy used by mining will be subsidized by the government.
MicroStrategy Now Owns Half a Billion Worth of Bitcoin
MicroStrategy invested $425 million in Bitcoin during August and September of this year. By time of writing this I estimate it could be around 600 million dollars with the recent BTC bull run. Opinions are varying if this brave step will lure other corporate investors in the space. I personally think that sentiment around Cryptocurrencies are shifting drastically and the pioneers of this space will be rewarded proportionally. Only time will who next gonna shift onto Bitcoin and cryptocurrency investing. Both acquisitions of MicroStrategy
Ethereum 2.0 Countdown Begins With Release of Deposit Contract
The deposit contract is the first "physical" implementation of Eth 2.0 for everyday users. The deposit contract acts as a bridge between the forthcoming proof-of-stake (PoS) blockchain and the current proof-of-work (PoW). The word is out that it might be possible to stake lower amounts as previously mentioned 32 ETH with forming staking alliances of lower amounts, tho at this moment I can't back this up.
PayPal plans a much wider embrace of cryptocurrency, including Venmo use
Paypal announced the possibility of trading cryptocurrencies on their platform. The size of the waiting list for access to crypto, which is now available to 10% of PayPal customers, was two or three times as great as what the company anticipated. “Digital wallets are a natural complement to all forms of digital currency,” said Schulman, adding that PayPal is in close talks with central banks and regulators to explore new uses for these wallets. They had mentioned in the past about bringing Honey’s capabilities into PayPal and being able to spend the crypto in any store using paypal system. Worth mentioning is that the Internal Revenue Service treats any crypto transaction as taxable event, like selling a stock or a piece of real estate—meaning a PayPal user who buys a coffee or groceries from a crypto account could be forced to declare a capital gain. Honorable mentions.
Facebook Censors Bitcoin-related Content Once Again,
MicroStrategy’s Bitcoin Bet Reaches Front Page of the Wall Street Journal,
Cryptomarket showing independence signs From Wall Street,
Brave Browser: Number of monthly users increases 130% in 1 year,
Italian Airport Employee Accused of Using Airport's Computers to Mine Ethereum,
Following Unusual Demand, PayPal Raises Crypto Limits To $15,000,
Cardano Developer IOHK Donates $125k to Non-Profit That Aims To Enhance Haskell Adoption,
Cayman Islands Announces Legal Framework in Bid to Attract Crypto Businesses.
Lots of Central Banks either make or explore possibilities of creating their own digital currencies.
First regulated bank to launch Tezos staking
Final thoughts. Crypto space is undeniably booming again, this time with way bigger support from corporate investing. Same with interest from banks and financial services corporations like Visa and Mastercard. The Infamous Bitcoin Stimulus Check is now Worth ~$2500. More and more countries are waking up to the idea of using cryptocurrencies in some way that benefit them. I feel this time bull run is way more warranted and backed up but only time will tell if this is sustainable. Finally, I tried to explore many formats how I would publish these new summaries and I feel there will be many more iterations along the way. For sure there must be some news I left behind but I tried to mention everything that seemed to contribute the space in meaningful way. Any suggestions are welcome, see you next Friday Cheers
This FAQ and information thread serves to inform both new and existing users about common Bitcoin topics that readers coming to this Bitcoin subreddit may have. This is a living and breathing document, which will change over time. If you have suggestions on how to change it, please comment below or message the mods. What is /btc? The /btc reddit community was originally created as a community to discuss bitcoin. It quickly gained momentum in August 2015 when the bitcoin block size debate heightened. On the legacy /bitcoin subreddit it was discovered that moderators were heavily censoring discussions that were not inline with their own opinions. Once realized, the subreddit subscribers began to openly question the censorship which led to thousands of redditors being banned from the /bitcoin subreddit. A large number of redditors switched to other subreddits such as /bitcoin_uncensored and /btc. For a run-down on the history of censorship, please read A (brief and incomplete) history of censorship in /bitcoin by John Blocke and /Bitcoin Censorship, Revisted by John Blocke. As yet another example, /bitcoin censored 5,683 posts and comments just in the month of September 2017 alone. This shows the sheer magnitude of censorship that is happening, which continues to this day. Read a synopsis of /bitcoin to get the full story and a complete understanding of why people are so upset with /bitcoin's censorship. Further reading can be found here and here with a giant collection of information regarding these topics. Why is censorship bad for Bitcoin? As demonstrated above, censorship has become prevalent in almost all of the major Bitcoin communication channels. The impacts of censorship in Bitcoin are very real. "Censorship can really hinder a society if it is bad enough. Because media is such a large part of people’s lives today and it is the source of basically all information, if the information is not being given in full or truthfully then the society is left uneducated [...] Censorship is probably the number one way to lower people’s right to freedom of speech." By censoring certain topics and specific words, people in these Bitcoin communication channels are literally being brain washed into thinking a certain way, molding the reader in a way that they desire; this has a lasting impact especially on users who are new to Bitcoin. Censoring in Bitcoin is the direct opposite of what the spirit of Bitcoin is, and should be condemned anytime it occurs. Also, it's important to think critically and independently, and have an open mind. Why do some groups attempt to discredit /btc? This subreddit has become a place to discuss everything Bitcoin-related and even other cryptocurrencies at times when the topics are relevant to the overall ecosystem. Since this subreddit is one of the few places on Reddit where users will not be censored for their opinions and people are allowed to speak freely, truth is often said here without the fear of reprisal from moderators in the form of bans and censorship. Because of this freedom, people and groups who don't want you to hear the truth with do almost anything they can to try to stop you from speaking the truth and try to manipulate readers here. You can see many cited examples of cases where special interest groups have gone out of their way to attack this subreddit and attempt to disrupt and discredit it. See the examples here. What is the goal of /btc? This subreddit is a diverse community dedicated to the success of bitcoin. /btc honors the spirit and nature of Bitcoin being a place for open and free discussion about Bitcoin without the interference of moderators. Subscribers at anytime can look at and review the public moderator logs. This subreddit does have rules as mandated by reddit that we must follow plus a couple of rules of our own. Make sure to read the /btc wiki for more information and resources about this subreddit which includes information such as the benefits of Bitcoin, how to get started with Bitcoin, and more. What is Bitcoin? Bitcoin is a digital currency, also called a virtual currency, which can be transacted for a low-cost nearly instantly from anywhere in the world. Bitcoin also powers the blockchain, which is a public immutable and decentralized global ledger. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. There is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank. Read the Bitcoin whitepaper to further understand the schematics of how Bitcoin works. What is Bitcoin Cash? Bitcoin Cash (ticker symbol: BCH) is an updated version of Bitcoin which solves the scaling problems that have been plaguing Bitcoin Core (ticker symbol: BTC) for years. Bitcoin (BCH) is just a continuation of the Bitcoin project that allows for bigger blocks which will give way to more growth and adoption. You can read more about Bitcoin on BitcoinCash.org or read What is Bitcoin Cash for additional details. How do I buy Bitcoin? You can buy Bitcoin on an exchange or with a brokerage. If you're looking to buy, you can buy Bitcoin with your credit card to get started quickly and safely. There are several others places to buy Bitcoin too; please check the sidebar under brokers, exchanges, and trading for other go-to service providers to begin buying and trading Bitcoin. Make sure to do your homework first before choosing an exchange to ensure you are choosing the right one for you. How do I store my Bitcoin securely? After the initial step of buying your first Bitcoin, you will need a Bitcoin wallet to secure your Bitcoin. Knowing which Bitcoin wallet to choose is the second most important step in becoming a Bitcoin user. Since you are investing funds into Bitcoin, choosing the right Bitcoin wallet for you is a critical step that shouldn’t be taken lightly. Use this guide to help you choose the right wallet for you. Check the sidebar under Bitcoin wallets to get started and find a wallet that you can store your Bitcoin in. Why is my transaction taking so long to process? Bitcoin transactions typically confirm in ~10 minutes. A confirmation means that the Bitcoin transaction has been verified by the network through the process known as mining. Once a transaction is confirmed, it cannot be reversed or double spent. Transactions are included in blocks. If you have sent out a Bitcoin transaction and it’s delayed, chances are the transaction fee you used wasn’t enough to out-compete others causing it to be backlogged. The transaction won’t confirm until it clears the backlog. This typically occurs when using the Bitcoin Core (BTC) blockchain due to poor central planning. If you are using Bitcoin (BCH), you shouldn't encounter these problems as the block limits have been raised to accommodate a massive amount of volume freeing up space and lowering transaction costs. Why does my transaction cost so much, I thought Bitcoin was supposed to be cheap? As described above, transaction fees have spiked on the Bitcoin Core (BTC) blockchain mainly due to a limit on transaction space. This has created what is called a fee market, which has primarily been a premature artificially induced price increase on transaction fees due to the limited amount of block space available (supply vs. demand). The original plan was for fees to help secure the network when the block reward decreased and eventually stopped, but the plan was not to reach that point until some time in the future, around the year 2140. This original plan was restored with Bitcoin (BCH) where fees are typically less than a single penny per transaction. What is the block size limit? The original Bitcoin client didn’t have a block size cap, however was limited to 32MB due to the Bitcoin protocol message size constraint. However, in July 2010 Bitcoin’s creator Satoshi Nakamoto introduced a temporary 1MB limit as an anti-DDoS measure. The temporary measure from Satoshi Nakamoto was made clear three months later when Satoshi said the block size limit can be increased again by phasing it in when it’s needed (when the demand arises). When introducing Bitcoin on the cryptography mailing list in 2008, Satoshi said that scaling to Visa levels “would probably not seem like a big deal.” What is the block size debate all about anyways? The block size debate boils down to different sets of users who are trying to come to consensus on the best way to scale Bitcoin for growth and success. Scaling Bitcoin has actually been a topic of discussion since Bitcoin was first released in 2008; for example you can read how Satoshi Nakamoto was asked about scaling here and how he thought at the time it would be addressed. Fortunately Bitcoin has seen tremendous growth and by the year 2013, scaling Bitcoin had became a hot topic. For a run down on the history of scaling and how we got to where we are today, see the Block size limit debate history lesson post. What is a hard fork? A hard fork is when a block is broadcast under a new and different set of protocol rules which is accepted by nodes that have upgraded to support the new protocol. In this case, Bitcoin diverges from a single blockchain to two separate blockchains (a majority chain and a minority chain). What is a soft fork? A soft fork is when a block is broadcast under a new and different set of protocol rules, but the difference is that nodes don’t realize the rules have changed, and continue to accept blocks created by the newer nodes. Some argue that soft forks are bad because they trick old-unupdated nodes into believing transactions are valid, when they may not actually be valid. This can also be defined as coercion, as explained by Vitalik Buterin. Doesn't it hurt decentralization if we increase the block size? Some argue that by lifting the limit on transaction space, that the cost of validating transactions on individual nodes will increase to the point where people will not be able to run nodes individually, giving way to centralization. This is a false dilemma because at this time there is no proven metric to quantify decentralization; although it has been shown that the current level of decentralization will remain with or without a block size increase. It's a logical fallacy to believe that decentralization only exists when you have people all over the world running full nodes. The reality is that only people with the income to sustain running a full node (even at 1MB) will be doing it. So whether it's 1MB, 2MB, or 32MB, the costs of doing business is negligible for the people who can already do it. If the block size limit is removed, this will also allow for more users worldwide to use and transact introducing the likelihood of having more individual node operators. Decentralization is not a metric, it's a tool or direction. This is a good video describing the direction of how decentralization should look. Additionally, the effects of increasing the block capacity beyond 1MB has been studied with results showing that up to 4MB is safe and will not hurt decentralization (Cornell paper, PDF). Other papers also show that no block size limit is safe (Peter Rizun, PDF). Lastly, through an informal survey among all top Bitcoin miners, many agreed that a block size increase between 2-4MB is acceptable. What now? Bitcoin is a fluid ever changing system. If you want to keep up with Bitcoin, we suggest that you subscribe to /btc and stay in the loop here, as well as other places to get a healthy dose of perspective from different sources. Also, check the sidebar for additional resources. Have more questions? Submit a post and ask your peers for help! Note: This FAQ was originally posted here but was removed when one of our moderators was falsely suspended by those wishing to do this sub-reddit harm.
Bitcoin mining firm BitFury has revealed plans to market a light bulb that mines digital currency to the general public sometime in 2015. Bitcoin mining uses cryptography, with a hash function called double SHA-256. A hash takes a chunk of data as input and shrinks it down into a smaller hash value (in this case 256 bits). With a cryptographic hash, there's no way to get a hash value you want without trying a whole lot of inputs. But once you find an input that gives the value you want, it's easy for anyone to verify the hash ... In 2015, around 11 bitcoin firms went belly up. Here’s our look at what happened: GAW Miners. During 2015, GAW Miners fell into deeper and deeper trouble amid growing controversy over its mining ... Bitcoin Mining Pools: A Cooperative Game Theoretic Analysis. Pages 919–927. Previous Chapter Next Chapter. ABSTRACT. Bitcoin is an innovative decentralized cryptocurrency whose core security relies on a "proof of work" procedure, which requires network participants to repeatedly compute hashes on inputs from a large search space. Finding one of the rare inputs that generates an extremely low ... Last update: 2015-07-15 13:00. All times are UTC. Note: this situation has not been fully resolved, and it does not appear that it will be fully resolved anytime soon. Users of the affected wallets listed below are still advised to wait additional confirmations or to switch to a safer wallet. ##Summary. Your bitcoins are safe if you received them in transactions confirmed before 2015-07-15 12 ...
MINING GPU 2015, CLOUD MINING, FREE BITCOIN, 500 EUR per month, майнинг для профи и для новичков! - Duration: 34:27. ENjOY SiLENCE 4,048 views. 34:27. Beginner Swing ... Published on Oct 10, 2015. BitClub Network is the world's largest crowd funded mining pool for the people! It can be verified on Blockchain. Note that in this example, I began with the $599 mining ... Noob's Guide To Bitcoin Mining - Super Easy & Simple - Duration: 11:37. ... Live Hack at CeBIT Global Conferences 2015 - Duration: 1:11:56. cebitchannel 277,931 views. 1:11:56. The mathematics of ... In 2014, before Ethereum and altcoin mania, before ICOs and concerns about Tether and Facebook's Libra, Motherboard gained access to a massive and secretive ... Start trading Bitcoin and cryptocurrency here: https://bit.ly/2IrMSEa IMPORTANT!! This method only illustrates how mining works. You will not make any money ...