Top 14 Cryptocurrency Mining Hardware Kit Setups For

GPU Mining Crash Course - START HERE!

Welcome All to the GPUMining Crash Course!
With the increase in prices in cryptocurrency, a lot of people are getting back into mining and a lot of people are brand new to the concept overall. So, I quickly wrote this crash course to help you understand what to expect and how to successfully mine your first cryptocurrency. This crash course isn't gonna have all of the fluff you'd see in a normal publication. This is just everything you need to know to get up and running on your first cryptocurrency mining rig.

What is cryptocurrency mining?

One of the main things about cryptocurrencies is that they are "decentralized". Sounds great, but WTF does that even mean? Well, the easiest way to explain it is...
You know how if you want to send your friend/family money digitally, you can do so through your bank. Your bank likely takes a transaction fee and in a few days they will transfer the money. Since cryptocurrencies are decentralized, they don't have a bank or organization to fulfill the transfer of money. Instead, they outsource the computing power of their cryptocurrency network to miners (soon to be you). These miners are verifying transactions, securing the blockchain, and powering the cryptocurrency's specific network among other things. As an incentive, the miners collect transaction fees on the transactions that they verify and collect block rewards while new currency is still being introduced into the ecosystem.

What kind of rig should I build?

You can mine cryptocurrencies using your CPU, GPU, FPGA, or ASIC, but this is a GPU Mining subreddit, so I will cater this to GPUs.
For building a great all-around GPU rig, there are two models of GPUs that I'd recommend:
Both of these GPUs have solid hashrates across most mining algorithms and for a decent price! You should be able to find both of these kinds of GPUs used for around $200-$250 each, which is a great price if you know what happened during the last mining craze! ($200 GPUs were out of stock everywhere and people were reselling them for $600+ each)
There are also plenty of great AMD GPUs for mining, but I've worked mostly with Nvidia so that's why both of my recommendations are Nvidia and not AMD.
Other parts to your rig that you'll need are listed below. Most of these can be pieces of crap and are just needed to make the rig actually run, but the one spot you DON'T want to cheap out on is the power supply unit. A decent power supply unit will keep your home from burning down while also keeping your rigs up and running smoothly. Here are my recommendations:

She's built, now what?

Now you need to do a few things. I am a Windows miner, so I will be speaking to Windows here:
  1. Update Windows - Do all of the updates. Just do it.
  2. Update Drivers - Go to the EVGA website and download GeForce experience. It will keep your GPU drivers up to date.
  3. Go to Windows Device Manager and make sure all of your GPUs show up under "Display Adapters". If it is there, but it isn't showing the Name/Model of the GPU as the name, right click it and select "Update Driver". This should fix it.
Assuming you've done all of this, you're ready to download a mining application.

Mining Software

There are tons to choose from! Claymore, Phoenix, EWBF, LolMiner, etc... It can be overwhelming pretty quickly since they all have different algorithm support, speeds, efficiencies, and a whole lot more. On top of that, in order to get them running you need to set up batch files to call the proper exe, point you to the correct pool, and a whole bunch of other stuff that can be confusing to a new user. Not to mention, you will probably need a separate miner, config file, batch file, etc. for each different algorithm that you're interested in mining on.
Instead, I recommend that you download a miner management software that will take care of most of this tedious work for you. There are a few in the sidebar, but the /GPUMining favorite is AIOMiner. It was developed by our very own community member, xixspiderxix with the intention of making mining as easy as possible to do and without any fees. It supports over 100 different algorithms, so you'll be able to mine nearly ANY cryptocurrency you'd like. Just download it from their website and it will take you through a quick tutorial to help you get set up! You can also connect your rig to their website for remote monitoring and control. You've probably seen a few of their posts around this subreddit.
Other Windows mining softwares include:
Note: Many mining softwares have fees built into them. Most are around 1%, but can go as high as 5% or greater! You want a mining software with little or no fees at all so that you get to keep as much cryptocurrency as possible. These fees aren't something you actively pay, the software will automatically take it by mining on the developers behalf for a given amount of time and then switching back to mining on your own behalf. So, please be diligent in the software that you evaluate and make sure it is reputable.

I keep hearing about NiceHash. What is that?

The asshole of the mining industry. Jk, but not really.
NiceHash is a software program that allows you to sell your rig's hashing power to someone on their marketplace. They market themselves as profitable mining, but you're not really mining. You're selling your power in exchange for Bitcoin.
They did a great job telling people that with them, you're always mining the most profitable coin, but that's just not true. Since it is a mining marketplace, they make you mine whatever their most expensive contract is. If their contracts are below market prices, then you're not operating as efficiently and profitably as you could be.
NiceHash also has a sketchy history, which continues to this day. In 2017, they were hacked and lost $65M worth of Bitcoin. No one got paid out for MONTHS and many of their executives conveniently resigned. Their platform is also used to destroy cryptocurrencies. Since people are able to purchase mining power on their platform, people have used their platform to purchase enough mining power to control individual cryptocurrencies and duplicate coins, which increased the malicious user's wealth while completely destroying the integrity of the coin's blockchain. HoriZEN (formerly ZenCash), Ethereum Classic, and many other great cryptocurrencies have been the victim of NiceHash's platform.
For this and many other reasons, we highly recommend that you stay AWAY from Nicehash. We understand that it is extremely easy to use and you get paid in bitcoin, but they are destroying the industry with their greed and lack of motivation to change their platform for the protection of cryptocurrencies.

Concluding Thoughts

This is pretty much everything you need to know to get started. We covered the hardware, setting up the software, which software to use, and AIOMiner's tutorial will get you up to speed on how to actually mine the cryptocurrency that you want better than I can explain it, so I'll leave that part to them.
If you have any questions on this crash course, please leave a comment below where myself and other community members will be able to help you out.
submitted by The_Brutally_Honest to gpumining [link] [comments]

Electroneum Blockchain Upgrade FAQ

FREQUENTLY ASKED QUESTIONS
ELECTRONEUM’S MODERATED BLOCKCHAIN
Q: What is a Moderated Blockchain?
A: Electroneum’s new Moderated Blockchain (a type of permissioned blockchain that is at the qualitative level of IBM’s Hyperledger or Facebook’s announced Libra open ledger network) that has been uniquely and cleverly developed to provide Electroneum with a minimal but sufficient level of interference. This will allow the highly skilled engineering staff to supervise the distributed ledger which is maintained by a list of trusted validators. And this allows the tech team to detect anomalies or irregularities that could come from hackers attempting to breach our security, and immediately stop them preventing a double-spend or 51% attack. Because Electroneum controls the list of trusted validators, this empowers them to guarantee, and that is similar to IBM’s hyper ledger or that of Facebook’s Libra blockchain.
Q: Why did you move to a Moderated Blockchain?
A: To improve the functionality of Electroneum at the exchanges, allowing them to confirm deposit transactions faster and to protect the network from 51% attacks, and also Electroneum can decide to where the block rewards are rerouted ensuring that they are used to help improve the lives of the poorer in underdeveloped countries.
Q: What is the role of blockchain in a permissioned network?
A: It is essentially an immutable history of financial transactions. Electroneum’s Moderated Blockchain, which is a type of permissioned blockchain, unlike other decentralised cryptocurrency networks, can guarantee a tamper-proof system of transactional records.
Q: What motivation would someone have to trade on a permissioned blockchain when their transaction could get rolled back, or worse still, never get confirmed?
A: With Electroneum’s new Moderated Blockchain reorganisations can still occur but never will an irregular transaction actually be fully confirmed and then overwritten.
Q: Is there any risk of manipulation with a moderated blockchain?
A: There is a risk of manipulation if an authenticator key is leaked. However, the extent would be negligible and therefore not affect users, exchanges or miners. We developed a system to closely monitor the behaviour of both the network and miners to ensure any foul play is immediately crushed.
Q: How is Electroneum’s Moderated Blockchain different to other decentralised blockchains?
A: We have the authority to decide who mines the blocks and therefore, we can increase the likelihood that they are trusted validators.
Q: Why doesn’t Electroneum move to a fully centralised blockchain?
A: Our unique and cleverly created Moderated Blockchain is meant to have minimal interference to remove the risks and add protection whilst remaining decentralised to the point wherein the unlikely event that a meteor was to wipe out all of the Electroneum staff out of the face of the Earth by a meteor, ETN would not cease to exist. This because those nodes currently mining our blockchain or anybody else for that fact could swap out the codes and fork the network to take over control and guarantee the permanence of the cryptocurrency thus shielding our users from losses.
Q: What is Proof of Responsibility or PoR?
A: Proof of Responsibility, or PoR for short, is a new mining paradigm which obligates the miners to two primary responsibilities which are: 1) Maintain the integrity of the payment network, and 2) Spend the block rewards they receive responsibly to help poor people in line with Electroneum’s humanitarian agenda.
Q: How does PoR compare to PoW or Proof of Work?
A: PoR saves a lot of time and energy compared to PoW because instead of working with block validators overtime to prove or not that they’re reliable miners, we save time and potential adverse issues by hand-picking the miners ourselves.
SECURITY AND 51% ATTACKS OR DOUBLE SPENDS
Q: What is a 51% attack?
A: It is when someone takes over 50% control of the hashing power of a cryptocurrency. Hackers usually use this to benefit themselves with double spends, which is a hard loss for the exchanges as well as users in many cases.
Q: What IS an example of a 51% attack?
A: You may know 51% attacks better from both Bitcoin Cash in 2018 and Ethereum Classic in 2019, where hackers acquired more than 50 percent of the hashing power on those networks and getting away with a significant loot.
Q: What is hashing power?
A: This is the rate with which the mining rigs solve mathematical problems.
Q: Why doesn’t Electroneum require large amounts of hashing power anymore?
A: The Electroneum network difficulty automatically adjusts to maintain the target block time of two minutes. Regardless of the magnitude of the hashing power in Electroneum’s network will be kept to a two-minute target block time.
Q: Is Electroneum now insusceptible to a 51% attack?
A: We’re no longer susceptible to a 51% attack – making us one of the most secure blockchains in existence today.
Q: What if someone hack one authenticated miner?
A: In the unlikely event that hackers were to succeed in breaching the security of an authenticated miner, the authentication key of that miner would not be accessible to the hacker in itself because of the unique way our blockchain team has come up to shield it from being discovered. The hacker, therefore, would not be able to affect the network because they would be unable to mine sequential blocks. And because of the uniqueness of the Moderated Blockchain, our moderating network layer would immediately detect the breach and rescind the rights of that miner.
Q: What if two or more hacks?
A: If one hack is highly unlikely due to two security breaches being necessary, two hacks are exponentially harder to achieve. But if it were to happen, the keys they may have stolen limit the hash rate of the miner. This means that if somebody were to take the code and run it on the highest-powered mining machine, it would still produce the same hash rate as it would in the lowest powered mining rig making it impossible for them to control over 50% of the network’s hash rate because of the way our Moderated Blockchain is set up. This also ensures the NGOs can run an Electroneum mining node on hardware with which their tech teams are familiar.
Q: How do you judge how responsible the miners are?
A: We look at how many blocks they are mining compared to how many blocks they are expected to mine going by the hashing power allotted to them.
Q: What happens after a mining node has been shut off?
A: Simply, it stops mining and needs to be restarted and then retype or re-enter the authentication key.
NEW TRUSTED MINERS
Q: Who are the miners?
A: We have chosen vocational NGOs as trusted mining partners who are also trustworthy organisations. We have done due diligence to ensure they are transparent, honest, and aligned with our vision to work within the developing world. We have made sure that they also want to accompany us in our goal to expand our Gig Fair project, which is aimed at helping provide people in the poorest regions of the world with an income opportunity and the opportunity to attain skills and means to generate an income that will empower them to live better. The NGOs that we’ve selected are trusted brands that have proven track records in helping people. Cryptocurrency is at its early stages and is met with skepticism by many people and entities around the world as well as in the developing world. So, our mission is to educate these NGOs about cryptocurrency so that they can, in turn, convey the message of the benefits of crypto, particularly ETN, to people in the developing world and make them feel more confident to use crypto, which ultimately will help spur crypto’s mass adoption.
Q: Why are these NGOs anonymous (initially)?
A: Because they themselves have decided to remain anonymous over concerns of how cryptocurrency could reflect on their organisations.
Q: What do NGOs do for the project?
A: They validate the blocks and rewarded for this and take the proceeds to help people?
Q: Where are the NGO’s and Charities located?
A: For now, locations of the NGOs are being kept undisclosed for security reasons until they themselves decide they if they want to make public that information.
Q: Five million ETN or about $22,500 at the then valuation was paid out daily before. How much is being paid out now?
A: Because the block rewards have been reduced by a whopping 75% creating scarcity which is a good thing to extend longevity, currently just over 1.2 million ETN or about $5,300 is being paid out in block rewards.
Q: Can we see who is mining and how much they are mining?
A: The block rewards will still be visible on the blockchain explorer and those with sufficient technical knowledge will be able to see the different miners signing blocks with different mining keys. But Electroneum is not forcing the NGOs to reveal their identities because they are still going through a learning curve and when they understand crypto and experience the benefits first-hand, they will more than likely reveal themselves.
Q: Where are their mining rigs stored?
A: We have suggested that mining rigs be run in the cloud to ensure uptime; however, ultimately, it is up to the NGOs themselves decide where their equipment is hosted. It is essential to point out that we have reduced energy and hash rates by a millionfold as such a standard rack-mounted server that you would find in any business today is sufficient to run an Electroneum mining node.
Q: Who setup their mining rigs?
A: At this stage, all mining rigs have been set up by the Electroneum team as this is the first foray for NGOs into the cryptocurrency mining space.
Q: Who is managing their mining rigs?
A: The mining rigs are self-sufficient and need very little if any, technical support, however, a moderator layer monitors the new Moderated Blockchain to ensure the mining rigs are online and benefit the network. If we were to detect a mining rig going offline, we would inform the NGO and provide assistance where required.
Q: How will NGOs use their ETN (from mining blocks)?
A: The NGOs, initially, almost certainly convert the ETN to USD or other currencies because they have always used fiat to deliver their donations and assistance because that is what they are used to doing. Once they see the benefits and value of ETN they may start using it on the ground to amongst the people they help. We have deliberately targeted NGOs that are in regions that were we are imminent to enable airtime top-ups directly with ETN from within the Electroneum mobile app.
FUTURE PROGRESS & CORPORATE PARTNERSHIPS
Q: How will this initiative affect corporate partnerships moving forward?
A: Because the network is more secure, Electroneum as a platform will be more attractive as a platform in the eyes of potential partners.
Q: How will it help to grow our on-the-ground initiatives?
A: The NGO’s we’re working with will be in the regions we’re targeting on the ground. So, this will be contributing to the eco-system, the NGO’s will be able to spend their ETN on education through the Gig Economy too.
Q: Can new NGOs apply to mine?
A: I If you know or are an NGO that focuses on vocational training and education, and that it is within the developing world, then we would love to hear from you via our community forum.
Q: How will the 75% reduction in the block reward benefit the community?
A: Reducing the block rewards means ETN ‘s expands the longevity of the coin by making ETN scarcer and thus lengthening the duration of the emission of coins.
submitted by xterest27 to Electroneum [link] [comments]

Let's talk the business of CryptoMining shall we?

Claymore Releases a new version of his popular Ethereum miner, v14.0 and the markets take off because of it! (Just joking but seriously how funny that is!)

In all seriousness the market rebound is bound to bring new GPU players back to the game. Many of those who missed the 2017/2018 runs. I'm sensing many seeing this uptick may want to invest in building a small GPU farm. I've seen many miners fold and close up shop due to inexperience in the last run. I've seen crazy shit as one mid-size miner (500 GPUs or less) spending 10k for a massive watercooled vapor camber to keep his mining GPUs cool!

So let's go over a few Terminology
Investment: Money spent on all hardware, software, buildings.
ROI: Return on investment. How long it takes for it to generate a return to what you initially invested
Revenue: Total income from all sources.
Expenditures: Total cost from all sources.
CapEX: Captial Expenditures (I.E purchase of all equipment)
OPex: operational Expenditures (I.E cost reoccurring items like electric)

Now Cryptomining is probably the single WORST business to ever even think of trying to run! There many reasons for that but most importantly is that markets are not stable prices rise and fall dramatically, additionally 90% of early Crypto-coins have failed, BTC, LTC, DOGE, and XMR(which was rebranded) being the few longer standing coins.

For this i'm just focusing on GPU minable coins. The focus will be Ethereum since it will continue to be GPU-minable for minimum of another year + including a new Algo changes.

So you want to invest into crypto-mining (for whatever reason) where do you start?

First of all is research, research, research! After doing research come up with a plan!
I'm going to shill for u/voskcoin (Channel here) and BitsbeTripping. These two have been my influence in how I got started mining. They are an excellent resource for GPU mining knowledge for starters.

I'm keeping my focus on Ethereum because every GPU coin is different.
So start by learning about Ethereum, the inns and outs. How mining works in Ethereum and it's future plans. As miners we all know Ethereum plans to go PoS. So while mining Ethereum for 3+ years is probably out of the question, it could still be part of a plan.

So example of a plan could be: Start by mining Ethereum, Staking your mined Ethereum then shifting to another Eth-hash based coin that still PoW.

Investment: How much are you willing to spend? It EXTREMELY important here to understand that mining operations DO FAIL. Your investment shouldn't leave you on the streets homeless and hungry. Just like trading only invest what you can AFFORD TO LOSE.

Example: we'll have $10,000 to spend.

Your first investment and most important is the hardware.
Your entire mining operation runs solely on ONE PIECE OF HARDWARE. Choose wisely! This one piece of hardware is the heart and soul of your operation. It's called the General Computing Unit or GPU, laymans terms Graphics Card.

If you picking GPU mining the go-to standard was always AMD RX 400/500 series GPUs for Ethereum Mining. While right now this still may be true due to low prices it will change once Ethereum switches to another Algorithm. So you could be taking a gamble. While RX series perform decently it remain how much the new algorithm will affect hashrate/power in regards to current ETH rewards/price because it will change. Nvidia GPUs have been known for lower power and good hashrates, but they always come at a price premium.

When picking GPUs I highly recommend buying all the same GPUs. Same brand, manufacture, type etc. This saves you countless headaches. While buying used may save you quite a bit money, these are longer term investments and fans plus other components can fail. You don't know how the previous owner took care of it. I always suggest buying new and off Amazon.com.

Now when it comes to motherboard, CPU, PSU etc. I have two schools of thought.
A) Buy 'Gaming' Motherboards, A good CPU (minimum of a 4-core High Ghz) 8GB RAM and a regular PSU
B) Buy a 'Mining' Motherboard, a cheap CPU(2-core low Ghz), 4GB RAM and Server PSUs

It comes down to how much of a long term investment you plan to make and whether you're planning to resell the parts after say 1 year or 2 years. Option A) costs more in the beginning but gives you the choice to turn that mining machine into an actual computer for resale or individual parts on Ebay/Craigslist/Letgo. Option B) Is cheapest way to go for initial start-up and mining motherboards have nifty features such as PCI-E detection to help with trouble shooting. Server PSUs are cheap and handle high-wattage. However both these are next to impossible to off-load and low-powe2-core CPUs are hard to get rid of.

Now the choice. How many GPUs in a rig? 6, 8, 10, 13, 18!? Personally I think for most beginners 6-8 is the max they should handle per rig. I made the mistake of doing 13 GPUs near the start and it cost me tons of down-time and lost revenue.

Once you have the hardware part sourced, what about a frame? I suggest building your own frames either out of wood or use an impromptu a metal rack from amazon. I do NOT suggest spending 50-100+ dollars on 'mining-rig' frames. These become literally useless and only other miners might be interested in them. Resale value of near 0.

Well. Alright then! We're done right? We chosen our hardware, example 8-RX570, ASUS z370-A, G5400, 2 x 1000w PSUs and a metal wire rack from Amazon.com. Now comes the question of location, power, and cooling!

For location are you renting a commercial space? Putting in your bedroom/spare bedroom? Garage? (CapEX but also OPex if you're renting) The size of your operation determines the size of your space. If you plan on running it out of your house/spare bedroom Electric will be a major issue! WHATEVER YOU DO, DO NOT USE EXTENSION CORDS! These are trip and fire hazards. If you don't get the right gauge they will get hot and START FIRES. they are not meant for long-term use. I suggest using surge protector with the correct wattage rating. I do not suggest using Watt-meters and leaving them plugged in 24/7. Most watt-meters have a low wattage rating are not meant for long term use.

Electrical wiring can and will be a major cost (CapEX) unless you know someone or do it yourself(I do not recommend!)

For mining the best thing to do is to use 220/240v. the conversion is pretty painless and as long as these are marked you'll be safe. You gain additional amperage by switching allowing 3, 8 gpu rigs on a quad outlet at 20amps rather than 1 or max 2.
If you put something rated for 120v in 240v you WILL FRY IT. Computer PSUs are rated for both 120v and 240v these are safe to use on either. Server PSUs can do similar but you must check! Some are not dual-switching and can only be used on 120v or 240v!

So now importantly and the major factor in CryptoMining... what is your electric rate? Since I live in the US it varies widely depending on location. If your in California you're basically SOL Electric runs as high as .30c/kw whereas other states such as mine, (Pennsylvania) Electric costs me about .09C/kw. Rates varying by season as well. It's very important to figure out your electric rate and how it may change if you using residential rates! (As Vosk found out the hard way). Commercial rates may be cheaper but come with other caveats such as you have to use so much Kw per month to get that rate etc etc. Again this goes into research!

Ok, so we got Electric figured out, the location lets say spare bedroom (AND NOT THE BATHROOM VOSK), an Idea of rigs parts... and we're done? I really hope you'll didn't already pull that trigger on buying all the parts off amazon already!

So we have $10,000 to invest for arguments sake(not necessarily checking prices) and we can build 4, 8-GPU RX570 rigs including extra expenditures like Electric upgrade costs and misc items.

Now we head over on WhatNOTTOMINE and we look at ROI. It looks pretty bleak Estimating about 29.5mh/s per RX 570 with 117w~ draw per card. the current ROI after .10c/kw electric is 3.3 years. Mind you this is estimated does not include actual down-time of rigs or difficulty adjusts either HigheLower in the future.

Honestly if you're dedicated to mining, you really should not base your profits off WTT. This is because WTT calculates the daily price and give you an estimated earnings. As I said before the crypto market fluctuates far to much for this to be reliable source unless your cashing out the coins the day/second you earn them. The idea of mining is similar to trading. Mine when difficulty/price is low and sell when price is high. I'm of the mind that if your small enough, your day-time-job(don't quit it!) can cover the extra electric costs of your mining-op allowing you to keep as many coins as possible to speculate with! I made this mistake in 2017 not holding onto my coins when we're clearly in a bull-market at that time then holding on too long when it was a clear bear market.

Be very clear in your plan with your farm. Expenditures and CapEX can go crazy if you decided to do things like buy 120mm fan for each rig, watercooling, or other exotic things. Keep everything simple and cheap. Your only profit making source from mining is the GPU (CPU can as well if you decide so). So keeping other CapEX and OPex expenditures as low as possible is the goal to a quicker ROI.

Finally I highly suggest some budgeting. Figure out the Electric Costs, Costs of rent(if any), and Costs of your Rigs. This is CapEX and OPex.

Revenue = Earned Crypto rewards - OPex
Expenditures = CapEX + OPex
You do not 'profit' until your ROI is paid off! (You can count Revenue as Crypto-Holdings if your not actively selling it)
Profit = Expenditures + Revenue
Mind you CapEX and OPex can be used on your taxes as deductions. Depending on the size you call put it under "Hobby" or create a business in your name.

Next create a Business Checking account (If your going fairly big!) or even a secondary checking account at your Bank/Credit Union. Business checking accounts require some tedium. I suggest Chase Small business checking as they only require a $1500 deposit to avoid any fees. Key note here, DO NOT TELL THEM ITS FOR CRYPTO. They will shut you down imminently even though its just a business checking account. Banks hate Crypto. This will allow you track your OPex and use that $1500 to cover any further CapEX(Just make sure to refill it to $1500 either selling some crypto etc) This will greatly help in any taxes. Which brings me to major point

Taxes. I'm going off American system. For taxes, as earlier said, you can depreciate your hardware YoY(year on year) as part of CapEX. OPex, like your electric, can be added up. If you using your own house your living out of that much harder to track. For Mining the IRS subscribes to the FIFO method (First-In-First-Out) Meaning the date you mined that coin is the price you start at. When you sell that coin(say 1-2 months later) the price is higher. Well now you have to subtract the price from the date you mined the coin from the price of the date you sold the coin. If it's a profit then you report it a 'gain'. Really stupid and confusing. Trust me. I cannot answer the question of Pools(whether you mined to a pool THEN get paid out say 1 ETH, is it the 1 ETH you got paid out or the the .0000123 ETH you mined?) There isn't clear guidance on that. Supposedly the IRS will be releasing new guide on crypto however I doubt it will affect mining taxes.

Now that you have all that Information your ready to start your farm! And we haven't even begun mining yet, let alone GPU tuning, good mining OSes, how to cool your farm :D. That I might do later :)

Hope this helps some. I'm not business person and this isn't financial advice or advice to dive into cryptomining right now! Feel free to add anything or correct my mistakes.
submitted by Xazax310 to gpumining [link] [comments]

I Bought 150 GPUs for Ethereum mining. Think I'm Insane?

I Bought 150 GPUs for Ethereum mining. Think I'm Insane?
My mining farm has been in operation in various sizes since mid-2017. I sold off most of my GPU during the end of 2018/2019 reinvesting that money into Crypto(Ethereum/BTC) when it was at it low points of ($100/$3800). I doubled my money with the recent bull run and now I recently acquired 104 RX 470 GB Nitro+ with a plan on acquiring 52 more for cheap(total of 156). I also purchased 38 P104-100s MSI/Colorful(24 pictured rest are enroute). In addition, I have 13 GTX 1660ti's, while my friend has 20(hosting it for him). Total GPU account will be over 200+ GPUs. Thinking about Documenting my recent mining journey now with these RX470s 4Gbs/P104s. Mind you all I got them all cheaper than usually find. RX470 4GBs for $53 and the P104-100s for $180

Plan for the RX470 4Gbs is 13 GPU Rigs on Windows 10 running Claymore 14.6 soft-modding the timings with as low as power as I can get. Preliminary testing shows each card can get about 30.9mh/s @ 110w~(test with motherboard + CPU/GPU/RAM/SSD/PSU was 145w total from wall). Electric rate is .010c/Kw. The P104-100s with Claymore's new straps allows me to do 43mh/s @ 125w per card. Overall I'm positive about getting back in big time!

Edit: For those interested. Per WTT as of today(June 12 2019)
30.9Mh/s per GPU x 156 RX470s = 4820Mh/s (110w per GPU) 17160w *Estimated*
43Mh/s per GPU x 38 P104-100s = 1634Mh/s (125w per GPU) 4750w *Estimated*
Ethereum combined hashrate = 6454 @ 21910w @.10c/kw *Estimated* = 50K Revenue yearly 31K Income with current prices and difficulty. (YMMV)

ROI time of approx 6 Months(just for the purchase the GPUs). Obviously, this can increase or decrease based on crypto markets price and difficulty.

Update: the OP with more rig pictures build in progress. Another 52 cards are enroute and P104-100s are racked! Currently testing 13x RX470s and 13x P104-100s.

https://preview.redd.it/ev3zwg9dmx331.jpg?width=1365&format=pjpg&auto=webp&s=3ada910e11d5412b5e9ff952306d051c422d37a3

https://preview.redd.it/0ce4nlld1n431.jpg?width=4032&format=pjpg&auto=webp&s=1ee8ae5552025b0ac591d8dbc97b99a351a0b5b2

https://preview.redd.it/zz5orbgf1n431.jpg?width=4032&format=pjpg&auto=webp&s=378ce839df28adcef699070b570d5008561dccd3

https://preview.redd.it/2kc71qtg1n431.jpg?width=4032&format=pjpg&auto=webp&s=b98b7aa7d7500e116fd8318c67f5cd8dce5c4feb

https://preview.redd.it/612mhbfi1n431.jpg?width=4032&format=pjpg&auto=webp&s=e1ffb585e5123f4c5f502654a968415ed382c3c4
submitted by Xazax310 to gpumining [link] [comments]

Top 20 Weirdest Cryptocurrencies

Top 20 Weirdest Cryptocurrencies

Top 20 Weirdest Cryptocurrencies
When cryptocurrencies are mentioned, what comes to mind are the most popular ones like Bitcoin, Ethereum, Litecoin, Ripple and so on. With over 4,000 of them in existence today, we want to take a look at the top 20 weirdest cryptocurrencies.
While some of them were merely created for the fun of it, some others are a product of sarcasm. Among them are also those that are outright jokes, while others are just a product of someone trying their hand at blockchain development.
As we consider these coins, there are those whose names you may have heard of before, and those that might make you question civilisation’s intelligence entirely. Representing all corners of the internet, and world in some cases, whatever group they fall into, be assured that these are elements that satisfy the description of cryptocurrencies.
20. Garlicoin
In what looks like a ridiculous attempt, someone on Reddit forked the Litecoin blockchain to create what is called Garlicoin. It is a meme-based cryptocurrency that is devoted to Garlic bread. On the website’s garlic recipes page, it says; "Garlicoin is hot out of the oven and ready to serve you with its buttery goodness."
19. Porn Coins
These cryptocurrencies are dedicated to the adult industry. They include SexCoin, TitCoin and SpankCoin. While the first two are designed to be used for purchases and transactions on porn sites, the latter, among other services, provides a full-blown blockchain platform for building anonymous, secure pornography apps.
17. Mooncoin Now,
we’re moving into geography. This coin is based on the average distance between the earth and the moon. This distance is what determines the total supply of the coin. Mooncoin has its own programming language, called MoonWord. This is used for creating decentralized app (DApp) coding and blockchain record-keeping.
16. UFOCoin
It is easy to mistake this coin for a galactic exploration project. Far from that, the UFOCoin simply uses neoscrypt technology to create stronger encryption, offering a stronger layer of protection to the network.
Anyone can mine UFOCoin, even with a desktop computer.
16. Fuzzballs
Centred around gifting and parties, Fuzzballs can be used to make purchases from the FUZZ shop. Simple gifts like keychains and bottle openers are available and can be purchased with the coin.
15. Useless Ethereum Token (UET)
Among the top 20 weird cryptocurrencies is the Useless Ethereum Token (UET). This is an ICO coin that offered its investors and community absolutely no value. It was clearly stated on the project’s website:
"You're going to give some random person on the internet money, and they're going to take it and go buy stuff with it. Probably electronics, to be honest. Maybe even a big-screen television. Seriously, don't buy these tokens."
14. Cat Coins Monacoin,
Catcoin and Nyancoin are the categories of Cat Coins available. They stem from the already popular cat-themed memes on the internet.
13. The Cypherfunks
This is a community of musicians on a decentralized platform that use FUNK coins to support their collective musical dreams.
12. Unobtanium
This project’s website defines the cryptocurrency as the platinum to Bitcoin’s gold. It is a cryptocurrency designed to be rare. Only 250,000 Unobtanium coins will ever be mined over the next 300 years. Mining of this crypto occurs on the fictional moon of Pandora.
11. BitCoen
This is a Jewish cryptocurrency token that is made by Jews, for Jews, all over the world. BitCeon has a payments system, loyalty program, marketplace, wallet, and an advertising platform. 10% of the total coins goes to Jewish charities.
10. Whoppercoin
This coin is Burger King specific, and is only used in Russia. It is used for buying the Burger King Whoppers. This coin is employed for a blockchain-based rewards program, where users rack up a certain amount of the coins to exchange it for a free burger.
9. Coinye
This cryptocurrency lived a short life of only a few months with no well-known use case, before being sued into oblivion by the lawyers of Kanye West.
8. Putin Coin
This is a coin that was simply created to pay tribute to President Vladmir Putin of Russia and his people. Simple!
7. TrumpCoin
Among his numerous controversies, this one did not escape the President of the United States of America, President Donald J. Trump.
According to the coin’s website, it aims to integrate itself into the agenda of Donald Trump, and aid in funding projects domestically and worldwide including infrastructure, veterans, and securing the border.
6. DentaCoin
This coin is indeed a cryptocurrency for dentists. It is a blockchain network where dentists and patients can share data and medical records. The platform also allows its users to trade products and materials, and to pay for procedures.
5. PotCoin
Among the top 20 weird cryptocurrencies is Dennis Rodman’s PotCoin. Its design is aimed at providing decentralized banking infrastructure for the legal cannabis industry. The coin’s blockchain is now growing beyond that and is being deployed for other various solutions.
4. Petro
This is the Venezuelan national cryptocurrency which is backed by its oil reserve. President Nicolas Maduro, who is the lead proponent of this coin, however has given no clear details about the coin. It is one of his measures to try to tackle the highly deteriorated economy of his country, amidst various international sanctions.
3. KodakCoin
Cryptocurrencies are everywhere, including in photography. Veteran camera company, Kodak launched its own coin to help manage processes. Such includes digital image rights and to pay photographers for image usage.
2. DeepOnion
This is a creepy cryptocurrency that was created for the Tor network. It is anonymous and untraceable, which makes it suitable for facilitating transactions on the network.
1. Dogecoin
This is an old cryptocurrency that has been in existence since 2013. Inspired by the famous Shiba Inu dog, Dogecoin has gathered a sizeable community and has been involved in some major events. It is still an active coin with a sizeable market capitalization.
Conclusion
Most of these weird cryptocurrencies are docile, and can be referred to as dead coins. While some of them are still hanging in there, others have already served out the purpose of their creation.
The cryptocurrency market is in dire need of a clean up. Many of these dead coins need to be removed from the system, so that participants can direct their resources to more useful channels. One platform that is helping to achieve this is the CoinJanitor blockchain platform.
The interesting thing about CoinJanitor is that it is not just focused on cleaning up the system, but also restoring value and putting it back into the ecosystem. This is why the project is exchanging dead coins with the more-established JAN tokens.
This implies that those that hold the dead coins now have the opportunity to recover their investments. The non-viable blockchain will be shut down, and its community members absorbed into the CoinJanitor network. Be sure to see some of the top 20 weirdest cryptocurrencies among the potential coin swaps on CoinJanitor.
https://coins.newbium.com/post/27521-top-20-weirdest-cryptocurrencies
submitted by OliAustin101 to TopBottomCrypto [link] [comments]

Top 20 Weirdest Cryptocurrencies

Top 20 Weirdest Cryptocurrencies

https://preview.redd.it/55i8y22ys1e31.jpg?width=960&format=pjpg&auto=webp&s=fa8185750bcc87176b6b7acb9620e16290412394
When cryptocurrencies are mentioned, what comes to mind are the most popular ones like Bitcoin, Ethereum, Litecoin, Ripple and so on. With over 4,000 of them in existence today, we want to take a look at the top 20 weirdest cryptocurrencies.
While some of them were merely created for the fun of it, some others are a product of sarcasm. Among them are also those that are outright jokes, while others are just a product of someone trying their hand at blockchain development.
As we consider these coins, there are those whose names you may have heard of before, and those that might make you question civilisation’s intelligence entirely. Representing all corners of the internet, and world in some cases, whatever group they fall into, be assured that these are elements that satisfy the description of cryptocurrencies.
20. Garlicoin
In what looks like a ridiculous attempt, someone on Reddit forked the Litecoin blockchain to create what is called Garlicoin. It is a meme-based cryptocurrency that is devoted to Garlic bread. On the website’s garlic recipes page, it says; "Garlicoin is hot out of the oven and ready to serve you with its buttery goodness."
19. Porn Coins
These cryptocurrencies are dedicated to the adult industry. They include SexCoin, TitCoin and SpankCoin. While the first two are designed to be used for purchases and transactions on porn sites, the latter, among other services, provides a full-blown blockchain platform for building anonymous, secure pornography apps.
17. Mooncoin Now,
we’re moving into geography. This coin is based on the average distance between the earth and the moon. This distance is what determines the total supply of the coin. Mooncoin has its own programming language, called MoonWord. This is used for creating decentralized app (DApp) coding and blockchain record-keeping.
16. UFOCoin
It is easy to mistake this coin for a galactic exploration project. Far from that, the UFOCoin simply uses neoscrypt technology to create stronger encryption, offering a stronger layer of protection to the network.
Anyone can mine UFOCoin, even with a desktop computer.
16. Fuzzballs
Centred around gifting and parties, Fuzzballs can be used to make purchases from the FUZZ shop. Simple gifts like keychains and bottle openers are available and can be purchased with the coin.
15. Useless Ethereum Token (UET)
Among the top 20 weird cryptocurrencies is the Useless Ethereum Token (UET). This is an ICO coin that offered its investors and community absolutely no value. It was clearly stated on the project’s website:
"You're going to give some random person on the internet money, and they're going to take it and go buy stuff with it. Probably electronics, to be honest. Maybe even a big-screen television. Seriously, don't buy these tokens."
14. Cat Coins Monacoin,
Catcoin and Nyancoin are the categories of Cat Coins available. They stem from the already popular cat-themed memes on the internet.
13. The Cypherfunks
This is a community of musicians on a decentralized platform that use FUNK coins to support their collective musical dreams.
12. Unobtanium
This project’s website defines the cryptocurrency as the platinum to Bitcoin’s gold. It is a cryptocurrency designed to be rare. Only 250,000 Unobtanium coins will ever be mined over the next 300 years. Mining of this crypto occurs on the fictional moon of Pandora.
11. BitCoen
This is a Jewish cryptocurrency token that is made by Jews, for Jews, all over the world. BitCeon has a payments system, loyalty program, marketplace, wallet, and an advertising platform. 10% of the total coins goes to Jewish charities.
10. Whoppercoin
This coin is Burger King specific, and is only used in Russia. It is used for buying the Burger King Whoppers. This coin is employed for a blockchain-based rewards program, where users rack up a certain amount of the coins to exchange it for a free burger.
9. Coinye
This cryptocurrency lived a short life of only a few months with no well-known use case, before being sued into oblivion by the lawyers of Kanye West.
8. Putin Coin
This is a coin that was simply created to pay tribute to President Vladmir Putin of Russia and his people. Simple!
7. TrumpCoin
Among his numerous controversies, this one did not escape the President of the United States of America, President Donald J. Trump.
According to the coin’s website, it aims to integrate itself into the agenda of Donald Trump, and aid in funding projects domestically and worldwide including infrastructure, veterans, and securing the border.
6. DentaCoin
This coin is indeed a cryptocurrency for dentists. It is a blockchain network where dentists and patients can share data and medical records. The platform also allows its users to trade products and materials, and to pay for procedures.
5. PotCoin
Among the top 20 weird cryptocurrencies is Dennis Rodman’s PotCoin. Its design is aimed at providing decentralized banking infrastructure for the legal cannabis industry. The coin’s blockchain is now growing beyond that and is being deployed for other various solutions.
4. Petro
This is the Venezuelan national cryptocurrency which is backed by its oil reserve. President Nicolas Maduro, who is the lead proponent of this coin, however has given no clear details about the coin. It is one of his measures to try to tackle the highly deteriorated economy of his country, amidst various international sanctions.
3. KodakCoin
Cryptocurrencies are everywhere, including in photography. Veteran camera company, Kodak launched its own coin to help manage processes. Such includes digital image rights and to pay photographers for image usage.
2. DeepOnion
This is a creepy cryptocurrency that was created for the Tor network. It is anonymous and untraceable, which makes it suitable for facilitating transactions on the network.
1. Dogecoin
This is an old cryptocurrency that has been in existence since 2013. Inspired by the famous Shiba Inu dog, Dogecoin has gathered a sizeable community and has been involved in some major events. It is still an active coin with a sizeable market capitalization.
Conclusion
Most of these weird cryptocurrencies are docile, and can be referred to as dead coins. While some of them are still hanging in there, others have already served out the purpose of their creation.
The cryptocurrency market is in dire need of a clean up. Many of these dead coins need to be removed from the system, so that participants can direct their resources to more useful channels. One platform that is helping to achieve this is the CoinJanitor blockchain platform.
The interesting thing about CoinJanitor is that it is not just focused on cleaning up the system, but also restoring value and putting it back into the ecosystem. This is why the project is exchanging dead coins with the more-established JAN tokens.
This implies that those that hold the dead coins now have the opportunity to recover their investments. The non-viable blockchain will be shut down, and its community members absorbed into the CoinJanitor network. Be sure to see some of the top 20 weirdest cryptocurrencies among the potential coin swaps on CoinJanitor.
https://coins.newbium.com/post/27521-top-20-weirdest-cryptocurrencies
submitted by OliAustin101 to Rad_Decentralization [link] [comments]

Top 20 Weirdest Cryptocurrencies

Top 20 Weirdest Cryptocurrencies

Top 20 Weirdest Cryptocurrencies
When cryptocurrencies are mentioned, what comes to mind are the most popular ones like Bitcoin, Ethereum, Litecoin, Ripple and so on. With over 4,000 of them in existence today, we want to take a look at the top 20 weirdest cryptocurrencies.
While some of them were merely created for the fun of it, some others are a product of sarcasm. Among them are also those that are outright jokes, while others are just a product of someone trying their hand at blockchain development.
As we consider these coins, there are those whose names you may have heard of before, and those that might make you question civilisation’s intelligence entirely. Representing all corners of the internet, and world in some cases, whatever group they fall into, be assured that these are elements that satisfy the description of cryptocurrencies.
20. Garlicoin
In what looks like a ridiculous attempt, someone on Reddit forked the Litecoin blockchain to create what is called Garlicoin. It is a meme-based cryptocurrency that is devoted to Garlic bread. On the website’s garlic recipes page, it says; "Garlicoin is hot out of the oven and ready to serve you with its buttery goodness."
19. Porn Coins
These cryptocurrencies are dedicated to the adult industry. They include SexCoin, TitCoin and SpankCoin. While the first two are designed to be used for purchases and transactions on porn sites, the latter, among other services, provides a full-blown blockchain platform for building anonymous, secure pornography apps.
17. Mooncoin Now,
we’re moving into geography. This coin is based on the average distance between the earth and the moon. This distance is what determines the total supply of the coin. Mooncoin has its own programming language, called MoonWord. This is used for creating decentralized app (DApp) coding and blockchain record-keeping.
16. UFOCoin
It is easy to mistake this coin for a galactic exploration project. Far from that, the UFOCoin simply uses neoscrypt technology to create stronger encryption, offering a stronger layer of protection to the network.
Anyone can mine UFOCoin, even with a desktop computer.
16. Fuzzballs
Centred around gifting and parties, Fuzzballs can be used to make purchases from the FUZZ shop. Simple gifts like keychains and bottle openers are available and can be purchased with the coin.
15. Useless Ethereum Token (UET)
Among the top 20 weird cryptocurrencies is the Useless Ethereum Token (UET). This is an ICO coin that offered its investors and community absolutely no value. It was clearly stated on the project’s website:
"You're going to give some random person on the internet money, and they're going to take it and go buy stuff with it. Probably electronics, to be honest. Maybe even a big-screen television. Seriously, don't buy these tokens."
14. Cat Coins Monacoin,
Catcoin and Nyancoin are the categories of Cat Coins available. They stem from the already popular cat-themed memes on the internet.
13. The Cypherfunks
This is a community of musicians on a decentralized platform that use FUNK coins to support their collective musical dreams.
12. Unobtanium
This project’s website defines the cryptocurrency as the platinum to Bitcoin’s gold. It is a cryptocurrency designed to be rare. Only 250,000 Unobtanium coins will ever be mined over the next 300 years. Mining of this crypto occurs on the fictional moon of Pandora.
11. BitCoen
This is a Jewish cryptocurrency token that is made by Jews, for Jews, all over the world. BitCeon has a payments system, loyalty program, marketplace, wallet, and an advertising platform. 10% of the total coins goes to Jewish charities.
10. Whoppercoin
This coin is Burger King specific, and is only used in Russia. It is used for buying the Burger King Whoppers. This coin is employed for a blockchain-based rewards program, where users rack up a certain amount of the coins to exchange it for a free burger.
9. Coinye
This cryptocurrency lived a short life of only a few months with no well-known use case, before being sued into oblivion by the lawyers of Kanye West.
8. Putin Coin
This is a coin that was simply created to pay tribute to President Vladmir Putin of Russia and his people. Simple!
7. TrumpCoin
Among his numerous controversies, this one did not escape the President of the United States of America, President Donald J. Trump.
According to the coin’s website, it aims to integrate itself into the agenda of Donald Trump, and aid in funding projects domestically and worldwide including infrastructure, veterans, and securing the border.
6. DentaCoin
This coin is indeed a cryptocurrency for dentists. It is a blockchain network where dentists and patients can share data and medical records. The platform also allows its users to trade products and materials, and to pay for procedures.
5. PotCoin
Among the top 20 weird cryptocurrencies is Dennis Rodman’s PotCoin. Its design is aimed at providing decentralized banking infrastructure for the legal cannabis industry. The coin’s blockchain is now growing beyond that and is being deployed for other various solutions.
4. Petro
This is the Venezuelan national cryptocurrency which is backed by its oil reserve. President Nicolas Maduro, who is the lead proponent of this coin, however has given no clear details about the coin. It is one of his measures to try to tackle the highly deteriorated economy of his country, amidst various international sanctions.
3. KodakCoin
Cryptocurrencies are everywhere, including in photography. Veteran camera company, Kodak launched its own coin to help manage processes. Such includes digital image rights and to pay photographers for image usage.
2. DeepOnion
This is a creepy cryptocurrency that was created for the Tor network. It is anonymous and untraceable, which makes it suitable for facilitating transactions on the network.
1. Dogecoin
This is an old cryptocurrency that has been in existence since 2013. Inspired by the famous Shiba Inu dog, Dogecoin has gathered a sizeable community and has been involved in some major events. It is still an active coin with a sizeable market capitalization.
Conclusion
Most of these weird cryptocurrencies are docile, and can be referred to as dead coins. While some of them are still hanging in there, others have already served out the purpose of their creation.
The cryptocurrency market is in dire need of a clean up. Many of these dead coins need to be removed from the system, so that participants can direct their resources to more useful channels. One platform that is helping to achieve this is the CoinJanitor blockchain platform.
The interesting thing about CoinJanitor is that it is not just focused on cleaning up the system, but also restoring value and putting it back into the ecosystem. This is why the project is exchanging dead coins with the more-established JAN tokens.
This implies that those that hold the dead coins now have the opportunity to recover their investments. The non-viable blockchain will be shut down, and its community members absorbed into the CoinJanitor network. Be sure to see some of the top 20 weirdest cryptocurrencies among the potential coin swaps on CoinJanitor.
https://coins.newbium.com/post/27521-top-20-weirdest-cryptocurrencies
submitted by OliAustin101 to CryptoCurrency [link] [comments]

Top 20 Weirdest Cryptocurrencies


Top 20 Weirdest Cryptocurrencies
When cryptocurrencies are mentioned, what comes to mind are the most popular ones like Bitcoin, Ethereum, Litecoin, Ripple and so on. With over 4,000 of them in existence today, we want to take a look at the top 20 weirdest cryptocurrencies.
While some of them were merely created for the fun of it, some others are a product of sarcasm. Among them are also those that are outright jokes, while others are just a product of someone trying their hand at blockchain development.
As we consider these coins, there are those whose names you may have heard of before, and those that might make you question civilisation’s intelligence entirely. Representing all corners of the internet, and world in some cases, whatever group they fall into, be assured that these are elements that satisfy the description of cryptocurrencies.
20. Garlicoin
In what looks like a ridiculous attempt, someone on Reddit forked the Litecoin blockchain to create what is called Garlicoin. It is a meme-based cryptocurrency that is devoted to Garlic bread. On the website’s garlic recipes page, it says; "Garlicoin is hot out of the oven and ready to serve you with its buttery goodness."
19. Porn Coins
These cryptocurrencies are dedicated to the adult industry. They include SexCoin, TitCoin and SpankCoin. While the first two are designed to be used for purchases and transactions on porn sites, the latter, among other services, provides a full-blown blockchain platform for building anonymous, secure pornography apps.
17. Mooncoin Now,
we’re moving into geography. This coin is based on the average distance between the earth and the moon. This distance is what determines the total supply of the coin. Mooncoin has its own programming language, called MoonWord. This is used for creating decentralized app (DApp) coding and blockchain record-keeping.
16. UFOCoin
It is easy to mistake this coin for a galactic exploration project. Far from that, the UFOCoin simply uses neoscrypt technology to create stronger encryption, offering a stronger layer of protection to the network.
Anyone can mine UFOCoin, even with a desktop computer.
16. Fuzzballs
Centred around gifting and parties, Fuzzballs can be used to make purchases from the FUZZ shop. Simple gifts like keychains and bottle openers are available and can be purchased with the coin.
15. Useless Ethereum Token (UET)
Among the top 20 weird cryptocurrencies is the Useless Ethereum Token (UET). This is an ICO coin that offered its investors and community absolutely no value. It was clearly stated on the project’s website:
"You're going to give some random person on the internet money, and they're going to take it and go buy stuff with it. Probably electronics, to be honest. Maybe even a big-screen television. Seriously, don't buy these tokens."
14. Cat Coins Monacoin,
Catcoin and Nyancoin are the categories of Cat Coins available. They stem from the already popular cat-themed memes on the internet.
13. The Cypherfunks
This is a community of musicians on a decentralized platform that use FUNK coins to support their collective musical dreams.
12. Unobtanium
This project’s website defines the cryptocurrency as the platinum to Bitcoin’s gold. It is a cryptocurrency designed to be rare. Only 250,000 Unobtanium coins will ever be mined over the next 300 years. Mining of this crypto occurs on the fictional moon of Pandora.
11. BitCoen
This is a Jewish cryptocurrency token that is made by Jews, for Jews, all over the world. BitCeon has a payments system, loyalty program, marketplace, wallet, and an advertising platform. 10% of the total coins goes to Jewish charities.
10. Whoppercoin
This coin is Burger King specific, and is only used in Russia. It is used for buying the Burger King Whoppers. This coin is employed for a blockchain-based rewards program, where users rack up a certain amount of the coins to exchange it for a free burger.
9. Coinye
This cryptocurrency lived a short life of only a few months with no well-known use case, before being sued into oblivion by the lawyers of Kanye West.
8. Putin Coin
This is a coin that was simply created to pay tribute to President Vladmir Putin of Russia and his people. Simple!
7. TrumpCoin
Among his numerous controversies, this one did not escape the President of the United States of America, President Donald J. Trump.
According to the coin’s website, it aims to integrate itself into the agenda of Donald Trump, and aid in funding projects domestically and worldwide including infrastructure, veterans, and securing the border.
6. DentaCoin
This coin is indeed a cryptocurrency for dentists. It is a blockchain network where dentists and patients can share data and medical records. The platform also allows its users to trade products and materials, and to pay for procedures.
5. PotCoin
Among the top 20 weird cryptocurrencies is Dennis Rodman’s PotCoin. Its design is aimed at providing decentralized banking infrastructure for the legal cannabis industry. The coin’s blockchain is now growing beyond that and is being deployed for other various solutions.
4. Petro
This is the Venezuelan national cryptocurrency which is backed by its oil reserve. President Nicolas Maduro, who is the lead proponent of this coin, however has given no clear details about the coin. It is one of his measures to try to tackle the highly deteriorated economy of his country, amidst various international sanctions.
3. KodakCoin
Cryptocurrencies are everywhere, including in photography. Veteran camera company, Kodak launched its own coin to help manage processes. Such includes digital image rights and to pay photographers for image usage.
2. DeepOnion
This is a creepy cryptocurrency that was created for the Tor network. It is anonymous and untraceable, which makes it suitable for facilitating transactions on the network.
1. Dogecoin
This is an old cryptocurrency that has been in existence since 2013. Inspired by the famous Shiba Inu dog, Dogecoin has gathered a sizeable community and has been involved in some major events. It is still an active coin with a sizeable market capitalization.
Conclusion
Most of these weird cryptocurrencies are docile, and can be referred to as dead coins. While some of them are still hanging in there, others have already served out the purpose of their creation.
The cryptocurrency market is in dire need of a clean up. Many of these dead coins need to be removed from the system, so that participants can direct their resources to more useful channels. One platform that is helping to achieve this is the CoinJanitor blockchain platform.
The interesting thing about CoinJanitor is that it is not just focused on cleaning up the system, but also restoring value and putting it back into the ecosystem. This is why the project is exchanging dead coins with the more-established JAN tokens.
This implies that those that hold the dead coins now have the opportunity to recover their investments. The non-viable blockchain will be shut down, and its community members absorbed into the CoinJanitor network. Be sure to see some of the top 20 weirdest cryptocurrencies among the potential coin swaps on CoinJanitor.
https://coins.newbium.com/post/27521-top-20-weirdest-cryptocurrencies
submitted by OliAustin101 to Crypto_General [link] [comments]

Top 20 Weirdest Cryptocurrencies

Top 20 Weirdest Cryptocurrencies

https://preview.redd.it/bk3hdbzet1e31.jpg?width=960&format=pjpg&auto=webp&s=504317c0d57bda40fb25cef57cf7f18e83a42851
When cryptocurrencies are mentioned, what comes to mind are the most popular ones like Bitcoin, Ethereum, Litecoin, Ripple and so on. With over 4,000 of them in existence today, we want to take a look at the top 20 weirdest cryptocurrencies.
While some of them were merely created for the fun of it, some others are a product of sarcasm. Among them are also those that are outright jokes, while others are just a product of someone trying their hand at blockchain development.
As we consider these coins, there are those whose names you may have heard of before, and those that might make you question civilisation’s intelligence entirely. Representing all corners of the internet, and world in some cases, whatever group they fall into, be assured that these are elements that satisfy the description of cryptocurrencies.
20. Garlicoin
In what looks like a ridiculous attempt, someone on Reddit forked the Litecoin blockchain to create what is called Garlicoin. It is a meme-based cryptocurrency that is devoted to Garlic bread. On the website’s garlic recipes page, it says; "Garlicoin is hot out of the oven and ready to serve you with its buttery goodness."
19. Porn Coins
These cryptocurrencies are dedicated to the adult industry. They include SexCoin, TitCoin and SpankCoin. While the first two are designed to be used for purchases and transactions on porn sites, the latter, among other services, provides a full-blown blockchain platform for building anonymous, secure pornography apps.
17. Mooncoin Now,
we’re moving into geography. This coin is based on the average distance between the earth and the moon. This distance is what determines the total supply of the coin. Mooncoin has its own programming language, called MoonWord. This is used for creating decentralized app (DApp) coding and blockchain record-keeping.
16. UFOCoin
It is easy to mistake this coin for a galactic exploration project. Far from that, the UFOCoin simply uses neoscrypt technology to create stronger encryption, offering a stronger layer of protection to the network.
Anyone can mine UFOCoin, even with a desktop computer.
16. Fuzzballs
Centred around gifting and parties, Fuzzballs can be used to make purchases from the FUZZ shop. Simple gifts like keychains and bottle openers are available and can be purchased with the coin.
15. Useless Ethereum Token (UET)
Among the top 20 weird cryptocurrencies is the Useless Ethereum Token (UET). This is an ICO coin that offered its investors and community absolutely no value. It was clearly stated on the project’s website:
"You're going to give some random person on the internet money, and they're going to take it and go buy stuff with it. Probably electronics, to be honest. Maybe even a big-screen television. Seriously, don't buy these tokens."
14. Cat Coins Monacoin,
Catcoin and Nyancoin are the categories of Cat Coins available. They stem from the already popular cat-themed memes on the internet.
13. The Cypherfunks
This is a community of musicians on a decentralized platform that use FUNK coins to support their collective musical dreams.
12. Unobtanium
This project’s website defines the cryptocurrency as the platinum to Bitcoin’s gold. It is a cryptocurrency designed to be rare. Only 250,000 Unobtanium coins will ever be mined over the next 300 years. Mining of this crypto occurs on the fictional moon of Pandora.
11. BitCoen
This is a Jewish cryptocurrency token that is made by Jews, for Jews, all over the world. BitCeon has a payments system, loyalty program, marketplace, wallet, and an advertising platform. 10% of the total coins goes to Jewish charities.
10. Whoppercoin
This coin is Burger King specific, and is only used in Russia. It is used for buying the Burger King Whoppers. This coin is employed for a blockchain-based rewards program, where users rack up a certain amount of the coins to exchange it for a free burger.
9. Coinye
This cryptocurrency lived a short life of only a few months with no well-known use case, before being sued into oblivion by the lawyers of Kanye West.
8. Putin Coin
This is a coin that was simply created to pay tribute to President Vladmir Putin of Russia and his people. Simple!
7. TrumpCoin
Among his numerous controversies, this one did not escape the President of the United States of America, President Donald J. Trump.
According to the coin’s website, it aims to integrate itself into the agenda of Donald Trump, and aid in funding projects domestically and worldwide including infrastructure, veterans, and securing the border.
6. DentaCoin
This coin is indeed a cryptocurrency for dentists. It is a blockchain network where dentists and patients can share data and medical records. The platform also allows its users to trade products and materials, and to pay for procedures.
5. PotCoin
Among the top 20 weird cryptocurrencies is Dennis Rodman’s PotCoin. Its design is aimed at providing decentralized banking infrastructure for the legal cannabis industry. The coin’s blockchain is now growing beyond that and is being deployed for other various solutions.
4. Petro
This is the Venezuelan national cryptocurrency which is backed by its oil reserve. President Nicolas Maduro, who is the lead proponent of this coin, however has given no clear details about the coin. It is one of his measures to try to tackle the highly deteriorated economy of his country, amidst various international sanctions.
3. KodakCoin
Cryptocurrencies are everywhere, including in photography. Veteran camera company, Kodak launched its own coin to help manage processes. Such includes digital image rights and to pay photographers for image usage.
2. DeepOnion
This is a creepy cryptocurrency that was created for the Tor network. It is anonymous and untraceable, which makes it suitable for facilitating transactions on the network.
1. Dogecoin
This is an old cryptocurrency that has been in existence since 2013. Inspired by the famous Shiba Inu dog, Dogecoin has gathered a sizeable community and has been involved in some major events. It is still an active coin with a sizeable market capitalization.
Conclusion
Most of these weird cryptocurrencies are docile, and can be referred to as dead coins. While some of them are still hanging in there, others have already served out the purpose of their creation.
The cryptocurrency market is in dire need of a clean up. Many of these dead coins need to be removed from the system, so that participants can direct their resources to more useful channels. One platform that is helping to achieve this is the CoinJanitor blockchain platform.
The interesting thing about CoinJanitor is that it is not just focused on cleaning up the system, but also restoring value and putting it back into the ecosystem. This is why the project is exchanging dead coins with the more-established JAN tokens.
This implies that those that hold the dead coins now have the opportunity to recover their investments. The non-viable blockchain will be shut down, and its community members absorbed into the CoinJanitor network. Be sure to see some of the top 20 weirdest cryptocurrencies among the potential coin swaps on CoinJanitor.
https://coins.newbium.com/post/27521-top-20-weirdest-cryptocurrencies
submitted by OliAustin101 to tokenisation [link] [comments]

Top 20 Weirdest Cryptocurrencies

When cryptocurrencies are mentioned, what comes to mind are the most popular ones like Bitcoin, Ethereum, Litecoin, Ripple and so on. With over 4,000 of them in existence today, we want to take a look at the top 20 weirdest cryptocurrencies.
While some of them were merely created for the fun of it, some others are a product of sarcasm. Among them are also those that are outright jokes, while others are just a product of someone trying their hand at blockchain development.
As we consider these coins, there are those whose names you may have heard of before, and those that might make you question civilisation’s intelligence entirely. Representing all corners of the internet, and world in some cases, whatever group they fall into, be assured that these are elements that satisfy the description of cryptocurrencies.
20. Garlicoin
In what looks like a ridiculous attempt, someone on Reddit forked the Litecoin blockchain to create what is called Garlicoin. It is a meme-based cryptocurrency that is devoted to Garlic bread. On the website’s garlic recipes page, it says; "Garlicoin is hot out of the oven and ready to serve you with its buttery goodness."
19. Porn Coins
These cryptocurrencies are dedicated to the adult industry. They include SexCoin, TitCoin and SpankCoin. While the first two are designed to be used for purchases and transactions on porn sites, the latter, among other services, provides a full-blown blockchain platform for building anonymous, secure pornography apps.
17. Mooncoin Now,
we’re moving into geography. This coin is based on the average distance between the earth and the moon. This distance is what determines the total supply of the coin. Mooncoin has its own programming language, called MoonWord. This is used for creating decentralized app (DApp) coding and blockchain record-keeping.
16. UFOCoin
It is easy to mistake this coin for a galactic exploration project. Far from that, the UFOCoin simply uses neoscrypt technology to create stronger encryption, offering a stronger layer of protection to the network.
Anyone can mine UFOCoin, even with a desktop computer.
16. Fuzzballs
Centred around gifting and parties, Fuzzballs can be used to make purchases from the FUZZ shop. Simple gifts like keychains and bottle openers are available and can be purchased with the coin.
15. Useless Ethereum Token (UET)
Among the top 20 weird cryptocurrencies is the Useless Ethereum Token (UET). This is an ICO coin that offered its investors and community absolutely no value. It was clearly stated on the project’s website:
"You're going to give some random person on the internet money, and they're going to take it and go buy stuff with it. Probably electronics, to be honest. Maybe even a big-screen television. Seriously, don't buy these tokens."
14. Cat Coins Monacoin,
Catcoin and Nyancoin are the categories of Cat Coins available. They stem from the already popular cat-themed memes on the internet.
13. The Cypherfunks
This is a community of musicians on a decentralized platform that use FUNK coins to support their collective musical dreams.
12. Unobtanium
This project’s website defines the cryptocurrency as the platinum to Bitcoin’s gold. It is a cryptocurrency designed to be rare. Only 250,000 Unobtanium coins will ever be mined over the next 300 years. Mining of this crypto occurs on the fictional moon of Pandora.
11. BitCoen
This is a Jewish cryptocurrency token that is made by Jews, for Jews, all over the world. BitCeon has a payments system, loyalty program, marketplace, wallet, and an advertising platform. 10% of the total coins goes to Jewish charities.
10. Whoppercoin
This coin is Burger King specific, and is only used in Russia. It is used for buying the Burger King Whoppers. This coin is employed for a blockchain-based rewards program, where users rack up a certain amount of the coins to exchange it for a free burger.
9. Coinye
This cryptocurrency lived a short life of only a few months with no well-known use case, before being sued into oblivion by the lawyers of Kanye West.
8. Putin Coin
This is a coin that was simply created to pay tribute to President Vladmir Putin of Russia and his people. Simple!
7. TrumpCoin
Among his numerous controversies, this one did not escape the President of the United States of America, President Donald J. Trump.
According to the coin’s website, it aims to integrate itself into the agenda of Donald Trump, and aid in funding projects domestically and worldwide including infrastructure, veterans, and securing the border.
6. DentaCoin
This coin is indeed a cryptocurrency for dentists. It is a blockchain network where dentists and patients can share data and medical records. The platform also allows its users to trade products and materials, and to pay for procedures.
5. PotCoin
Among the top 20 weird cryptocurrencies is Dennis Rodman’s PotCoin. Its design is aimed at providing decentralized banking infrastructure for the legal cannabis industry. The coin’s blockchain is now growing beyond that and is being deployed for other various solutions.
4. Petro
This is the Venezuelan national cryptocurrency which is backed by its oil reserve. President Nicolas Maduro, who is the lead proponent of this coin, however has given no clear details about the coin. It is one of his measures to try to tackle the highly deteriorated economy of his country, amidst various international sanctions.
3. KodakCoin
Cryptocurrencies are everywhere, including in photography. Veteran camera company, Kodak launched its own coin to help manage processes. Such includes digital image rights and to pay photographers for image usage.
2. DeepOnion
This is a creepy cryptocurrency that was created for the Tor network. It is anonymous and untraceable, which makes it suitable for facilitating transactions on the network.
1. Dogecoin
This is an old cryptocurrency that has been in existence since 2013. Inspired by the famous Shiba Inu dog, Dogecoin has gathered a sizeable community and has been involved in some major events. It is still an active coin with a sizeable market capitalization.
Conclusion
Most of these weird cryptocurrencies are docile, and can be referred to as dead coins. While some of them are still hanging in there, others have already served out the purpose of their creation.
The cryptocurrency market is in dire need of a clean up. Many of these dead coins need to be removed from the system, so that participants can direct their resources to more useful channels. One platform that is helping to achieve this is the CoinJanitor blockchain platform.
The interesting thing about CoinJanitor is that it is not just focused on cleaning up the system, but also restoring value and putting it back into the ecosystem. This is why the project is exchanging dead coins with the more-established JAN tokens.
This implies that those that hold the dead coins now have the opportunity to recover their investments. The non-viable blockchain will be shut down, and its community members absorbed into the CoinJanitor network. Be sure to see some of the top 20 weirdest cryptocurrencies among the potential coin swaps on CoinJanitor.
submitted by OliAustin101 to CryptoNewsandTalk [link] [comments]

Top 20 Weirdest Cryptocurrencies

Top 20 Weirdest Cryptocurrencies

Top 20 Weirdest Cryptocurrencies
When cryptocurrencies are mentioned, what comes to mind are the most popular ones like Bitcoin, Ethereum, Litecoin, Ripple and so on. With over 4,000 of them in existence today, we want to take a look at the top 20 weirdest cryptocurrencies.
While some of them were merely created for the fun of it, some others are a product of sarcasm. Among them are also those that are outright jokes, while others are just a product of someone trying their hand at blockchain development.
As we consider these coins, there are those whose names you may have heard of before, and those that might make you question civilisation’s intelligence entirely. Representing all corners of the internet, and world in some cases, whatever group they fall into, be assured that these are elements that satisfy the description of cryptocurrencies.
20. Garlicoin
In what looks like a ridiculous attempt, someone on Reddit forked the Litecoin blockchain to create what is called Garlicoin. It is a meme-based cryptocurrency that is devoted to Garlic bread. On the website’s garlic recipes page, it says; "Garlicoin is hot out of the oven and ready to serve you with its buttery goodness."
19. Porn Coins
These cryptocurrencies are dedicated to the adult industry. They include SexCoin, TitCoin and SpankCoin. While the first two are designed to be used for purchases and transactions on porn sites, the latter, among other services, provides a full-blown blockchain platform for building anonymous, secure pornography apps.
17. Mooncoin Now,
we’re moving into geography. This coin is based on the average distance between the earth and the moon. This distance is what determines the total supply of the coin. Mooncoin has its own programming language, called MoonWord. This is used for creating decentralized app (DApp) coding and blockchain record-keeping.
16. UFOCoin
It is easy to mistake this coin for a galactic exploration project. Far from that, the UFOCoin simply uses neoscrypt technology to create stronger encryption, offering a stronger layer of protection to the network.
Anyone can mine UFOCoin, even with a desktop computer.
16. Fuzzballs
Centred around gifting and parties, Fuzzballs can be used to make purchases from the FUZZ shop. Simple gifts like keychains and bottle openers are available and can be purchased with the coin.
15. Useless Ethereum Token (UET)
Among the top 20 weird cryptocurrencies is the Useless Ethereum Token (UET). This is an ICO coin that offered its investors and community absolutely no value. It was clearly stated on the project’s website:
"You're going to give some random person on the internet money, and they're going to take it and go buy stuff with it. Probably electronics, to be honest. Maybe even a big-screen television. Seriously, don't buy these tokens."
14. Cat Coins Monacoin,
Catcoin and Nyancoin are the categories of Cat Coins available. They stem from the already popular cat-themed memes on the internet.
13. The Cypherfunks
This is a community of musicians on a decentralized platform that use FUNK coins to support their collective musical dreams.
12. Unobtanium
This project’s website defines the cryptocurrency as the platinum to Bitcoin’s gold. It is a cryptocurrency designed to be rare. Only 250,000 Unobtanium coins will ever be mined over the next 300 years. Mining of this crypto occurs on the fictional moon of Pandora.
11. BitCoen
This is a Jewish cryptocurrency token that is made by Jews, for Jews, all over the world. BitCeon has a payments system, loyalty program, marketplace, wallet, and an advertising platform. 10% of the total coins goes to Jewish charities.
10. Whoppercoin
This coin is Burger King specific, and is only used in Russia. It is used for buying the Burger King Whoppers. This coin is employed for a blockchain-based rewards program, where users rack up a certain amount of the coins to exchange it for a free burger.
9. Coinye
This cryptocurrency lived a short life of only a few months with no well-known use case, before being sued into oblivion by the lawyers of Kanye West.
8. Putin Coin
This is a coin that was simply created to pay tribute to President Vladmir Putin of Russia and his people. Simple!
7. TrumpCoin
Among his numerous controversies, this one did not escape the President of the United States of America, President Donald J. Trump.
According to the coin’s website, it aims to integrate itself into the agenda of Donald Trump, and aid in funding projects domestically and worldwide including infrastructure, veterans, and securing the border.
6. DentaCoin
This coin is indeed a cryptocurrency for dentists. It is a blockchain network where dentists and patients can share data and medical records. The platform also allows its users to trade products and materials, and to pay for procedures.
5. PotCoin
Among the top 20 weird cryptocurrencies is Dennis Rodman’s PotCoin. Its design is aimed at providing decentralized banking infrastructure for the legal cannabis industry. The coin’s blockchain is now growing beyond that and is being deployed for other various solutions.
4. Petro
This is the Venezuelan national cryptocurrency which is backed by its oil reserve. President Nicolas Maduro, who is the lead proponent of this coin, however has given no clear details about the coin. It is one of his measures to try to tackle the highly deteriorated economy of his country, amidst various international sanctions.
3. KodakCoin
Cryptocurrencies are everywhere, including in photography. Veteran camera company, Kodak launched its own coin to help manage processes. Such includes digital image rights and to pay photographers for image usage.
2. DeepOnion
This is a creepy cryptocurrency that was created for the Tor network. It is anonymous and untraceable, which makes it suitable for facilitating transactions on the network.
1. Dogecoin
This is an old cryptocurrency that has been in existence since 2013. Inspired by the famous Shiba Inu dog, Dogecoin has gathered a sizeable community and has been involved in some major events. It is still an active coin with a sizeable market capitalization.
Conclusion
Most of these weird cryptocurrencies are docile, and can be referred to as dead coins. While some of them are still hanging in there, others have already served out the purpose of their creation.
The cryptocurrency market is in dire need of a clean up. Many of these dead coins need to be removed from the system, so that participants can direct their resources to more useful channels. One platform that is helping to achieve this is the CoinJanitor blockchain platform.
The interesting thing about CoinJanitor is that it is not just focused on cleaning up the system, but also restoring value and putting it back into the ecosystem. This is why the project is exchanging dead coins with the more-established JAN tokens.
This implies that those that hold the dead coins now have the opportunity to recover their investments. The non-viable blockchain will be shut down, and its community members absorbed into the CoinJanitor network. Be sure to see some of the top 20 weirdest cryptocurrencies among the potential coin swaps on CoinJanitor.
https://coins.newbium.com/post/27521-top-20-weirdest-cryptocurrencies
submitted by OliAustin101 to CryptoCluster [link] [comments]

Top 20 Weirdest Cryptocurrencies

Top 20 Weirdest Cryptocurrencies

Top 20 Weirdest Cryptocurrencies
When cryptocurrencies are mentioned, what comes to mind are the most popular ones like Bitcoin, Ethereum, Litecoin, Ripple and so on. With over 4,000 of them in existence today, we want to take a look at the top 20 weirdest cryptocurrencies.
While some of them were merely created for the fun of it, some others are a product of sarcasm. Among them are also those that are outright jokes, while others are just a product of someone trying their hand at blockchain development.
As we consider these coins, there are those whose names you may have heard of before, and those that might make you question civilisation’s intelligence entirely. Representing all corners of the internet, and world in some cases, whatever group they fall into, be assured that these are elements that satisfy the description of cryptocurrencies.
20. Garlicoin
In what looks like a ridiculous attempt, someone on Reddit forked the Litecoin blockchain to create what is called Garlicoin. It is a meme-based cryptocurrency that is devoted to Garlic bread. On the website’s garlic recipes page, it says; "Garlicoin is hot out of the oven and ready to serve you with its buttery goodness."
19. Porn Coins
These cryptocurrencies are dedicated to the adult industry. They include SexCoin, TitCoin and SpankCoin. While the first two are designed to be used for purchases and transactions on porn sites, the latter, among other services, provides a full-blown blockchain platform for building anonymous, secure pornography apps.
17. Mooncoin Now,
we’re moving into geography. This coin is based on the average distance between the earth and the moon. This distance is what determines the total supply of the coin. Mooncoin has its own programming language, called MoonWord. This is used for creating decentralized app (DApp) coding and blockchain record-keeping.
16. UFOCoin
It is easy to mistake this coin for a galactic exploration project. Far from that, the UFOCoin simply uses neoscrypt technology to create stronger encryption, offering a stronger layer of protection to the network.
Anyone can mine UFOCoin, even with a desktop computer.
16. Fuzzballs
Centred around gifting and parties, Fuzzballs can be used to make purchases from the FUZZ shop. Simple gifts like keychains and bottle openers are available and can be purchased with the coin.
15. Useless Ethereum Token (UET)
Among the top 20 weird cryptocurrencies is the Useless Ethereum Token (UET). This is an ICO coin that offered its investors and community absolutely no value. It was clearly stated on the project’s website:
"You're going to give some random person on the internet money, and they're going to take it and go buy stuff with it. Probably electronics, to be honest. Maybe even a big-screen television. Seriously, don't buy these tokens."
14. Cat Coins Monacoin,
Catcoin and Nyancoin are the categories of Cat Coins available. They stem from the already popular cat-themed memes on the internet.
13. The Cypherfunks
This is a community of musicians on a decentralized platform that use FUNK coins to support their collective musical dreams.
12. Unobtanium
This project’s website defines the cryptocurrency as the platinum to Bitcoin’s gold. It is a cryptocurrency designed to be rare. Only 250,000 Unobtanium coins will ever be mined over the next 300 years. Mining of this crypto occurs on the fictional moon of Pandora.
11. BitCoen
This is a Jewish cryptocurrency token that is made by Jews, for Jews, all over the world. BitCeon has a payments system, loyalty program, marketplace, wallet, and an advertising platform. 10% of the total coins goes to Jewish charities.
10. Whoppercoin
This coin is Burger King specific, and is only used in Russia. It is used for buying the Burger King Whoppers. This coin is employed for a blockchain-based rewards program, where users rack up a certain amount of the coins to exchange it for a free burger.
9. Coinye
This cryptocurrency lived a short life of only a few months with no well-known use case, before being sued into oblivion by the lawyers of Kanye West.
8. Putin Coin
This is a coin that was simply created to pay tribute to President Vladmir Putin of Russia and his people. Simple!
7. TrumpCoin
Among his numerous controversies, this one did not escape the President of the United States of America, President Donald J. Trump.
According to the coin’s website, it aims to integrate itself into the agenda of Donald Trump, and aid in funding projects domestically and worldwide including infrastructure, veterans, and securing the border.
6. DentaCoin
This coin is indeed a cryptocurrency for dentists. It is a blockchain network where dentists and patients can share data and medical records. The platform also allows its users to trade products and materials, and to pay for procedures.
5. PotCoin
Among the top 20 weird cryptocurrencies is Dennis Rodman’s PotCoin. Its design is aimed at providing decentralized banking infrastructure for the legal cannabis industry. The coin’s blockchain is now growing beyond that and is being deployed for other various solutions.
4. Petro
This is the Venezuelan national cryptocurrency which is backed by its oil reserve. President Nicolas Maduro, who is the lead proponent of this coin, however has given no clear details about the coin. It is one of his measures to try to tackle the highly deteriorated economy of his country, amidst various international sanctions.
3. KodakCoin
Cryptocurrencies are everywhere, including in photography. Veteran camera company, Kodak launched its own coin to help manage processes. Such includes digital image rights and to pay photographers for image usage.
2. DeepOnion
This is a creepy cryptocurrency that was created for the Tor network. It is anonymous and untraceable, which makes it suitable for facilitating transactions on the network.
1. Dogecoin
This is an old cryptocurrency that has been in existence since 2013. Inspired by the famous Shiba Inu dog, Dogecoin has gathered a sizeable community and has been involved in some major events. It is still an active coin with a sizeable market capitalization.
Conclusion
Most of these weird cryptocurrencies are docile, and can be referred to as dead coins. While some of them are still hanging in there, others have already served out the purpose of their creation.
The cryptocurrency market is in dire need of a clean up. Many of these dead coins need to be removed from the system, so that participants can direct their resources to more useful channels. One platform that is helping to achieve this is the CoinJanitor blockchain platform.
The interesting thing about CoinJanitor is that it is not just focused on cleaning up the system, but also restoring value and putting it back into the ecosystem. This is why the project is exchanging dead coins with the more-established JAN tokens.
This implies that those that hold the dead coins now have the opportunity to recover their investments. The non-viable blockchain will be shut down, and its community members absorbed into the CoinJanitor network. Be sure to see some of the top 20 weirdest cryptocurrencies among the potential coin swaps on CoinJanitor.
submitted by OliAustin101 to cryptoall [link] [comments]

MinedBlock

MinedBlock
Most investors are interested in the profit that is been made from the mining outcome of their investment. How does MinedBlock intend to share the profit yield from the mining? MinedBlock has set up a high yield returns in which investors and holders get 75% of the mining rewards. 75% of the revenue generated would be distributed among token holders on a 1:1 ratio according to the tokens held. For example, if you hold 0.25% of the Total supply, you would get 0.25% of the revenue generated.
The generated profits are going to be sent in Ethereum to the individual wallets, but they are planning to add more and more cryptocurencies of your choice.
The remaining 25% of the revenue generated will be split into 10% for expansion, 10% operational costs and 5% will be used for quarterly buyback from the circulating supply to ensure that the value of the tokens will not dump.
Regarding expansion, they plan to buy more mining rigs for future growth and to add more currency. User will be able to vote on which coin should be added to the mining rig.
Regarding operational costs, they will esnure that everythin runs smoothly at their mining facility. The 5% buybacked tokens will be burned till 50% of the total supply has been burnt, which would give more value to the MinedBlock tokens.
Whilst the exchange/brokerage side of the crypto ‘industry’ has evolved and firmly established leaders such as Coinbase or Binance, there isn’t really a comparable entity in the mining arena. Bitmain is probably the biggest but they are primarily a hardware manufacturer and don’t focus solely on transaction processing. Their remit is limited to the range of assets that they can mine using the hardware they manufacture and own. During the 2018 ‘crypto bull’ market, many mining companies appeared but failed to properly prepare for the event of a downturn and in the ‘bear’ market in the latter half of 2018 have disappeared.

https://preview.redd.it/j11mz22vsz131.png?width=1113&format=png&auto=webp&s=d97c29c6d0e0dd0eae7d1878cddb930f46e0a65f
The unique selling proposition of MinedBlock is that investors are offered a fully secured and compliant token, MBTX, which is 100% share-backed. This security token, issued on Polymath platform as an ST20 token, gives the investors certain rights such as right to dividends and voting power. The MBTX token can be purchased through the MBTU token, a utility token that is offered to the public during their crowdsale.
The fact is that the mining economy is a massive one, and is pivotal to the blockchain industry. Only those with the rack of infrastructure and expertise can get a significant share of the rewards accruable from it. MinedBlock has charted a blueprint to attain prime position in the industry.

https://preview.redd.it/v06os2evsz131.png?width=1075&format=png&auto=webp&s=e2b0566efee9b5c754cf6b0e0039981a3ffa889a
For more info visit these links:
Website: https://www.minedblock.io/
Whitepaper: https://www.minedblock.io/assets/MinedBlockWhitepaper.pdf
Explanatory Video: https://www.minedblock.io/wp-content/uploads/2019/01/minedblock-video.mp4?autoplay=1&enablejsapi=1
Bounty0x username: @richardbatsback
submitted by richardbatsback to BountyICO [link] [comments]

The MinedBlock project - A brief look

The MinedBlock project - A brief look

The MinedBlock project



https://preview.redd.it/ppefluaid9z21.png?width=643&format=png&auto=webp&s=858217811008319f5c19a7245d2d67a7d045783f

Most investors are interested in the profit that is been made from the mining outcome of their investment. How does MinedBlock intend to share the profit yield from the mining? MinedBlock has set up a high yield returns in which investors and holders get 75% of the mining rewards. 75% of the revenue generated would be distributed among token holders on a 1:1 ratio according to the tokens held. For example, if you hold 0.25% of the Total supply, you would get 0.25% of the revenue generated.
The generated profits are going to be sent in Ethereum to the individual wallets, but they are planning to add more and more cryptocurencies of your choice.
The remaining 25% of the revenue generated will be split into 10% for expansion, 10% operational costs and 5% will be used for quarterly buyback from the circulating supply to ensure that the value of the tokens will not dump.
Regarding expansion, they plan to buy more mining rigs for future growth and to add more currency. User will be able to vote on which coin should be added to the mining rig.
Regarding operational costs, they will ensure that everything runs smoothly at their mining facility. The 5% buy-backed tokens will be burned till 50% of the total supply has been burnt, which would give more value to the MinedBlock tokens.


The features


The fact is that the mining economy is a massive one, and is pivotal to the blockchain industry. Only those with the rack of infrastructure and expertise can get a significant share of the rewards accruable from it. MinedBlock has charted a blueprint to attain prime position in the industry.

The unique selling proposition of MinedBlock is that investors are offered a fully secured and compliant token, MBTX, which is 100% share-backed. This security token, issued on Polymath platform as an ST20 token, gives the investors certain rights such as right to dividends and voting power. The MBTX token can be purchased through the MBTU token, a utility token that is offered to the public during their crowdsale.



Their Roadmap


The team



For more info visit these links:
Website: https://www.minedblock.io/
Whitepaper: https://www.minedblock.io/assets/MinedBlockWhitepaper.pdf
Explanatory Video: https://www.minedblock.io/wp-content/uploads/2019/01/minedblock-video.mp4?autoplay=1&enablejsapi=1

Bounty0x username: @gerryvanboevn
submitted by gerryvanboven to ICOAnalysis [link] [comments]

MinedBlock - Overview of the project

MinedBlock - Overview of the project

The MinedBlock project


https://preview.redd.it/2ga220izykz21.png?width=643&format=png&auto=webp&s=eec3d01a99f52c2ba7f8a432362a37ee42371c42
Most investors are interested in the profit that is been made from the mining outcome of their investment. How does MinedBlock intend to share the profit yield from the mining? MinedBlock has set up a high yield returns in which investors and holders get 75% of the mining rewards. 75% of the revenue generated would be distributed among token holders on a 1:1 ratio according to the tokens held. For example, if you hold 0.25% of the Total supply, you would get 0.25% of the revenue generated.
The generated profits are going to be sent in Ethereum to the individual wallets, but they are planning to add more and more cryptocurencies of your choice.
The remaining 25% of the revenue generated will be split into 10% for expansion, 10% operational costs and 5% will be used for quarterly buyback from the circulating supply to ensure that the value of the tokens will not dump.
Regarding expansion, they plan to buy more mining rigs for future growth and to add more currency. User will be able to vote on which coin should be added to the mining rig.
Regarding operational costs, they will ensure that everything runs smoothly at their mining facility. The 5% buy-backed tokens will be burned till 50% of the total supply has been burnt, which would give more value to the MinedBlock tokens.

The features

The fact is that the mining economy is a massive one, and is pivotal to the blockchain industry. Only those with the rack of infrastructure and expertise can get a significant share of the rewards accruable from it. MinedBlock has charted a blueprint to attain prime position in the industry.
The unique selling proposition of MinedBlock is that investors are offered a fully secured and compliant token, MBTX, which is 100% share-backed. This security token, issued on Polymath platform as an ST20 token, gives the investors certain rights such as right to dividends and voting power. The MBTX token can be purchased through the MBTU token, a utility token that is offered to the public during their crowdsale.

Their Roadmap


The team

For more info visit these links:
Website: https://www.minedblock.io/
Whitepaper: https://www.minedblock.io/assets/MinedBlockWhitepaper.pdf
Explanatory Video: https://www.minedblock.io/wp-content/uploads/2019/01/minedblock-video.mp4?autoplay=1&enablejsapi=1
Bounty0x username: @gerryvanboevn
submitted by gerryvanboven to IcoInvestor [link] [comments]

MinedBlock Review!

MinedBlock Review!

https://preview.redd.it/3aewf5mt97031.png?width=643&format=png&auto=webp&s=6bd9c30d105dd170db349a024007e44b5676ea6d
Most investors are interested in the profit that is been made from the mining outcome of their investment. How does MinedBlock intend to share the profit yield from the mining? MinedBlock has set up a high yield returns in which investors and holders get 75% of the mining rewards. 75% of the revenue generated would be distributed among token holders on a 1:1 ratio according to the tokens held. For example, if you hold 0.25% of the Total supply, you would get 0.25% of the revenue generated.
The generated profits are going to be sent in Ethereum to the individual wallets, but they are planning to add more and more cryptocurencies of your choice.
The remaining 25% of the revenue generated will be split into 10% for expansion, 10% operational costs and 5% will be used for quarterly buyback from the circulating supply to ensure that the value of the tokens will not dump.
Regarding expansion, they plan to buy more mining rigs for future growth and to add more currency. User will be able to vote on which coin should be added to the mining rig.
Regarding operational costs, they will esnure that everythin runs smoothly at their mining facility. The 5% buybacked tokens will be burned till 50% of the total supply has been burnt, which would give more value to the MinedBlock tokens.


https://preview.redd.it/rtzlr4lu97031.png?width=1113&format=png&auto=webp&s=f9ad6b74dbe02173f8bf2c31d3b090a929d6d83c
The unique selling proposition of MinedBlock is that investors are offered a fully secured and compliant token, MBTX, which is 100% share-backed. This security token, issued on Polymath platform as an ST20 token, gives the investors certain rights such as right to dividends and voting power. The MBTX token can be purchased through the MBTU token, a utility token that is offered to the public during their crowdsale.

The fact is that the mining economy is a massive one, and is pivotal to the blockchain industry. Only those with the rack of infrastructure and expertise can get a significant share of the rewards accruable from it. MinedBlock has charted a blueprint to attain prime position in the industry.


https://preview.redd.it/0gmshm0w97031.png?width=1153&format=png&auto=webp&s=e744023fa99f48ecd8f2fd94712b7e9294ac14bb


https://preview.redd.it/9b852dsw97031.png?width=1075&format=png&auto=webp&s=cd18e9495133ec1e6c0765acfe512bd825fe7831

The experienced and skilled team

For more info visit these links:
Website: https://www.minedblock.io/

Whitepaper: https://www.minedblock.io/assets/MinedBlockWhitepaper.pdf

Explanatory Video: https://www.minedblock.io/wp-content/uploads/2019/01/minedblock-video.mp4?autoplay=1&enablejsapi=1


Bounty0x username: @richardbatsback
submitted by richardbatsback to CryptocurrencyICO [link] [comments]

[USA-RI] [H] 105 x RX570 4GB MSI Armor & Spare Parts[W] CRYPTO LOCAL CASH

I'm selling my Ethereum/Ethereum Classic mining farm, including all spare parts. Total hashrate is about 3GHs.
There are 105 RX 570 4GB GPUs across 15 RIGs all professionally assembled and configured.
Will mine other coins but its currently set up for Ethereum/ETC and running on EthOS.
Everything is in perfect condition, no overheats, environment is filtered and temperature controlled.
For Sale as Listed:
Complete mining rig system which includes racks, fans, network switches and all cables. The rigs run extremely efficient, and the cards have never been above 62 degrees and are set to 80% fan thus extending the life of the cards and are 100% stable @ 29.5-30MH/s per GPU.
I did not want to sell the farm, but I need the money to buy a house. I don't want to part the rigs out, I want to find a serious experienced crypto-miner, or someone who wants to get into crypto-mining to take over the project.
All of the rigs will have EthOS installed on 16GB flash drives all ready to go. Just put in wallet address and you're ready.
Each RIG Parts: (x 15)
-Intel Celeron G4400 -4GB of Crucial DDR4 -MSI Gaming M5 Motherboard -7 x Risers, Cables, Extensions -HP 2400 WATT Platinum Power Supply with Breakouts -16GB Sandisk Flashdrive -7 x MSI RX 570 4GB -10ft Power Cord
Other Parts:
-4 x Wire Racks -4 x High CFM 11" Fans -1 x 24 port 10/100 switch -Dozens of Patch Cords
SPARE Parts:
-7 x HP 2400 WATT PSU with Breakouts -10 x MSI Motherboards -8 x USB Flash Drives -6 x CPUs -6 x 4GB RAM -Dozens of risers, extra cables, ect
Asking $75,000
submitted by CryptoGuyRI to MinerSwap [link] [comments]

Why I came, and why I stayed

My interest in cryptocurrencies was first piqued in early 2017 - around February, just months before our world exploded. I sought to mine, but lacked the resources necessary acquire the 1080 Ti racks one might use to effectively mine Ethereum. Determined to find a coin that was still CPU-mineable, I conducted a search that was not insubstantial. Of the results, Monero had the most appealing name.
I landed here because I found a coin with a cool name that I could mine with a regular computer.
Over the last (nearly) two years, I've in many ways fallen in love with Monero. The longer I spent in the community, the more knowledge I acquired. The concept of privacy in our context was initially brought to my attention rather quickly. The problems we were solving fascinated me, and our solutions evoked genuine excitement. I never thought it possible to develop a true passion for something so seemingly trivial as a digital currency, but I quickly realized that nothing about our mission was trivial. Subsequently, while I arrived on a whim, I remained on an intuition that has proved fruitful. If the market stays at this general level for more than a month or two, we stand to lose a substantial population of users. I am determined not to be one of them.
I still have plenty to learn. The visual conceptualization of ECC is not beyond me, but the math is out of reach, and the programmatic implementation of aforementioned math I won't even try to understand, despite being a developer myself. But I know more than I did, and I don't intend to stop learning.
Monero is beautiful. Don't forget that.
- A Lurker
submitted by ThrowMeAwayToTherapy to Monero [link] [comments]

Can you proofread this before I explain to my Dad what cryptocurrency is?

He asked me what calculations my racks of video cards were doing, and what cryptocurrency was, so I typed this up - can you let me know all the stupid mistakes I made before I send it?
Note - he specifically asked me to explain everything as he wants to understand the entirety of it, including what my racks of GPU's are actually calculating and why
bitcoin was the first, it used the SHA256 hash algorithm
it was made so that everyone could run it and "mine" for coins with their CPU by running the SHA256 hash over and over with slightly different inputs, to try to get an output that was lower than the current target. The current target is called the "difficulty" ( https://en.bitcoin.it/wiki/Target )
If your bitcoin program found inputs that resulted in an output lower than the current difficulty, you win a "block" which contains varying amount of coins (with bitcoin, the reward halved every few years)
Your bitcoin program submits this to the network (multiple other bitcoin nodes that you're connected to), and then importantly - they all independently check your work. Once they verify that your hash is correct and is below the difficulty target, everyone agrees that a block was found and everyone moves onto looking for the next one. Note that the chain of blocks that keeps being found is called the "blockchain" , and it's completely public. Every transaction that happens between blocks sits in the "mempool", waiting to be written into the next block. ( https://99bitcoins.com/what-is-bitcoin-mempool/ )
Since SHA256 is a one-way hashing algorithm, you can't just make up a fake hash and hope it works. You actually have to do the work to find a correct one, this is called "Proof of Work"
Once it's written into the blockchain, it cannot be changed. Usually when you send bitcoins to someone, they wait for several "confirmations" before they consider your payment accepted. For example - when five new blocks have been mined after the one containing your transaction, that's five "confirmations". The deeper your transaction is into the blockchain, the more computing power it would take to invalidate that transaction. This is called the 51% attack - ( https://learncryptography.com/cryptocurrency/51-attack )
then someone figured out that it would be faster if your video card did the SHA256 hashes instead of your CPU, since there are hundreds of weaker 'cores' in a GPU than a CPU (which has 2-4). After a short while of everyone moving to using GPU's instead of CPU's, the difficulty target became harder (the network re-adjusts the difficulty target every x blocks, to keep the time between blocks constant. If more people are mining, the difficulty must go up to keep the time between blocks the same)
After a few years, various people custom designed ASICS to do the SHA256 hashes , which are much faster than GPU's, so now to mine bitcoin you have to buy custom hardware to do it. (you don't technically have to, but using GPU's would be worthless now with such an insane difficulty)
Also along the way, people realized the difficulty was getting too hard to mine by themselves, they would go weeks without finding a block; so someone invented "pooled" mining. One person runs a custom bitcoin wallet on a server, and thousands of people connect to that and mine to that wallet. However, instead of that wallet telling all the miners what the real current difficutly target is, it instead gives them a much easier target, so they find "shares" every few minutes. These "fake" easy shares are how the pools keep track of how much hardware you actually have mining for them. When the pool finds a block (because one of these shares will eventually qualify against the real current difficulty), it distributes the block reward evenly among the miners, based on how many shares they submitted during that round. (There's some tricky math called "pool hopping" you can look up if you're interested, where mathematically a miner will come out ahead if they switch to a pool at the beginning of a round, then switch to another pool at a pre-determined point. Pools came up with different payment schemes to get around this, one is called PPLNS)
Bitcoin was the first, however since it's open-source, someone took the Bitcoin code, changed some variables (name, block time, block rewards, max number of coins, etc), called it Litecoin, and launched their own version. Notably, they also changed the hashing algorithm used from SHA256 to scrypt. This was the first "Altcoin".
Since all the bitcoin mining software was written to calculate SHA256, the miner programmers had to start over on a scrypt miner. When new coins come out with new algorithms that haven't been used in previous coins, miner programmers rush to create GPU miners for that algorithm. Once they're running, they then work on optimizing them. The ones who have the fastest programs can usually charge a "devfee", which means for every x minutes of mining for you, it connects to a mining pool of the developer's choosing and mines for him for y minutes (usually devfees are 1-4%). If his/her miner is much faster than others, then it's still worth it for you to run his over the free miners.
Today there are hundreds (thousands?) of altcoins, with new ones coming out every week since it's so incredibly easy to launch your own. Very few have actually added something new to the mix, but the ones that have are the ones that are currently worth the most. A notable example is Ethereum. Instead of the blockchain just being a public ledger of transactions, it can also contain code that all the ethereum nodes can run. It can be simple code, such as "all ether directed to this wallet address will get split evenly in half, with half going to this address, and the other half going to that address" , or it can be more complex code. Once this code (called a "Contract" in Ethereum terms) is submitted into the blockchain, it's there forever (or as long as Ethereum is running on people's computers)
Another thing you can do is called a "hardfork" - if a group of people don't like the way one coin is being run, they can take the source code for that coin, change what they want changed, and launch it. At a certain block, your new code takes over, and you've essentially split the blockchain off on your own. The two blockchains can never be merged, because the nodes that run the coins are running two different versions - they each see the others' transactions and chains as invalid. If you can get enough people behind your idea, and they direct enough hashing power at your fork, then it will survive. Ethereum forked a few years ago because a large group of people disagreed with something the developer did, that fork is now called "Ethereum Classic"
Other noteable things that some coins have now are anonymous transactions, using math that might as well be magic (RingCT, ZKSnarks), several coins have the ability to do transactions that you can assume are completely anonymous. Even if you view their public blockchains, you can't figure out what transactions actually happened ( https://monero.stackexchange.com/questions/880/eli5-how-does-ringct-work )
So to answer your question, my racks of video cards used to be mining Ethereum (ethash algorithm) on an ethereum pool. Now half of them are mining Monero (cryptonight algorithm) and the other half is mining ZCash (equihash algorithm)
submitted by PcChip to CryptoCurrency [link] [comments]

Taking a huge risk while young with no kids. If it fails, FIRE target through traditional work in 6-8 years. If it works, FIRE before 30. Anyone else with a similar story, like starting a business or something?

Hey ladies and gents, they say goals are best acomplished if you tell others, so here is my story, and my plan. This is going to be a wildly unpopular opinion, but rest assured I researched my decisions carefully, have the traditional FIRE plan in place should my gamble fail, and it will not impact any children. The FIRE plan is pretty general, so I'll spare you the details. Ill be saving my usual 60% of each paycheck, and I'll keep enjoying inexpensive hobbies, like mountain biking, hiking, and camping. The question is, how to invest the savings for the best return? The method I decided on will seem very controvertial, so let me be clear, I know it may not work. Actually, it likely will not work the way I plan out. But the possible benefits are an extra 10 years of life without waking up to an alarm clock.
Background
I am young, as in 25. I am a family medicine intern. My wife is 24, a resident optometrist. We both grew up almost poor. Like, "always had a roof, but in a cramped house; always got a few christmas presents, but had parents that could barely get to the next paycheck, and sometimes racked up credit card debt to do so" kind of poor. We also graduated from high school into the teeth of the Great Recession. Between that and our combined 15 years of college/professional school, we are experts at surviving off nothing and delaying purchases until we absolutely need them. We do not want kids, so we do not have to be as financially secure as a normal family. We are doing well now, with combined incomes of $5000 and $2000 per month for myself and my wife, respectively. This is more money flowing in than we have ever had. And we are so frugal, we usually only spend 30-40% of each paycheck.
*Plus, I was a vandweller for a while, so I know have a Plan C as well*
So, since we are so young, and yet toughened, we can take risks now and still have a decent length working life to make up for the likely failure of those risks. However, should the risk pay off, we could possibly FatFIRE within 1-2 years. I'd say the chance of that success is... maybe 1 in 3. It was good enough for Sean Connery and the Red October. And to have some time in our 20s back from the hellhole that is professional education... oh my god so worth the risk.
So, in the hopes that people will recognize we did not make this decision lightly, and we are simply trying to go out of the box, even the normal FIRE box, to attain freedom. Here is our story, and here is our plan.
Learning how to invest
Back in 2016, I had read some of the MMM blogs, and a few thousand dollars saved up. I was looking for anything that had decent returns, and a friend showed me how the Dow had tanked on news about China, and how he wished he had cash when the price was lower. At the time, I questioned the wisdom of buying when the market was going down. He looked at me, smiled, and told me it was just on sale.
So I got a Wealthfront account and put a few hundred in at 90% stocks. The market recovered within months and I had a pretty good return. I then took some funds out. I tried timing things using the "FeaGreed Index" and Warren Buffets "be greedy when others are fearful" advice. I wasn't a day trader, more of a week trader. Then the stock market went down a little, and I bought more. I was just super lucky, but I thought I had a good stomach for risk at that point.
Finding... (Dare I say it...) cryptocurrencies
Here I may lose some of you, if you hate the idea of cryptocurrencys, and I respect your opinion. They are almost all speculation at this point, so I don't blame you.
Anyway, I went looking for other, more volatile markets to apply Buffets advice after stocks flattened out in 2016. My sister's boyfriend told me he played with cryptocurrencies. So, I took some money off Wealthfront and I dabbled a bit on Gemini with Bitcoin ($600 at the time) and Ethereum ($12 at the time). I did my best to sell high, and buy in when FUD went around. I had put in maybe 1/2 of all my savings at that point. In total, my savings was only $15k then, but that was literally my life savings. Most was in Ethereum since it was cheaper. I started researching Bitcoin and Ethereum, and I liked Eth better.
Naturally, Ethereum took a 30% dump to $9, and I realized that "volatile" meant down as well as up. Feeling a little stung, I pulled most of my remaining funds from Ethereum to even out my stock gains to avoid capital gains tax headaches (since I had no idea how any of that worked back then either.)
Equally naturally, Ethereum then went off the rails to $40 before I could get my cash back in. The FOMO was strong, and I'm still kicking myself for missing that huge first leap. Luckily, it went from $40 to $400 in the span of a year. I had gone from $15k to $150k. I was in vapor lock for most of 2017 over this. I had never built up so much, so fast, and especially as it went higher in Autumn. At that point, I decided to pull from Ethereum and diversify in the cryptos, thinking the other shoe must be about to drop.
XRP and the New Years 2018 Ripple Pump
My sister's boyfriend again gave me some advice. He casually mentioned Ripple might be picked up by some big companies. My first thought was, "What the heck is a Ripple?" So I did some digging, and managed to get on the Kraken exchange, and glitched my way to a few hundred thousand XRP, while saving some of my precious Ethereum. Then XRP had that massive speculative pump, and I suddenly had over a 7-figure net worth within weeks. I was giddy. Then the market slumped. No big deal, I told myself. Then XRP took an 80% dump. *80. FREAKING. PERCENT.*
I lost over $800,000 on paper from the high. I consoled myself on still having a mid 6-figure net worth, even to this day, but that didn't help much. As to why I did not withdraw at the peak, it was because I was simply astonished, a bit greedy, and I had no idea how such massive capital gains would impact my taxes, since they would be short term gains. At the time, I remember deciding not to decide and just roll with it. I knew I was young enough to deal with the volatility. So Im still holding on, even as the cryptocurrency market stumbles along.
The Gamble
Thank you for reading along this far. Before going any further, allow me to clarify that I don't want to sound like a gambler who can make his losses back with "just one more good hand..." which this will certainly sound like. My calculated risk is this: We will pour every extra cent that we can into XRP until we are 30 or have $6-8 million, whichever comes first. We would never do any leverage trades, as buying on margin is as stupid as essentially burning money in such volatile markets. If XRP has not taken off by the time we are 30, we will re-evaluate it against other cryptos with use-cases or stocks. Meanwhile, we will remain as frugal as we have always been, and continue to save at least 60% of each paycheck. The idea is this: plenty of people discover the FIRE movement in their 30s, after having terrible financial habits and no savings. If those people can FIRE in a few years, we would be able to do so as well if the Crypto market collapses. Its been around since 2009, so I bet it will be around at least another decade.
The reasoning
There is a finance quote that goes something like, "diversification protects, concentration grows," and right now we need our funds to grow, quickly, to reach FIRE. I have researched Bitcoin, Bitcoin Cash, Ethereum, and XRP. I chose XRP because it serves a very useful purpose already. Ethereum does as well, but currently mostly in theory. I agree with MMM on Bitcoin, in that it is a "greater fool" game. Bitcoin is also the first. So was MySpace.
Anyway, XRP could easily become highly prized by banks for global money transfers, and in providing an actual service, behaves more as a "natural resource" than a security. And it is wise to buy natural resources before the demand grows for it. Imagine buying land in West Texas before the automobile was invented.
Also, while I hate to depend on speculation, rampant speculation made me a momentary-millionaire on paper over the course of weeks earlier this year. Even if having a good use-case isn't enough, I bet the speculators will return to the cryptosphere within the next year because it could be very useful. Call that my "Hail-Mary."
Discussion on Ripple and XRP, and why most people hate it. Skip if you don't want the technical talk
So there are currently a lot of risks. XRP could be ruled a security of the Ripple Company, and it would not be listed on certain exchanges. XRP could be abandoned by Ripple. XRP could grow more slowly than Ethereum, Bitcoin, Bitcoin Cash, or the myriad of other cryptocurrencies like EOS, Litecoin, or Cardano. Additionally, XRP uses a Ledger protocol, which is different from the Proof of Work "mining" required for Bitcoin or Ethereum. So it may technically not actually be a real cryptocurrency in the traditional sense. This makes it understandable why so many people do not like it, since they don't understand it compared to what they're used to. That doesn't mean it can't have value.
I have an answer to those concerns listed above. Ripple is doing its best to conform to SEC rules, and wants to be regulated as a currency. XRP likely won't be ruled a security, even though Ripple is selling the technology to utilize them. Currently XRP and its ledger system operate independently from Ripple, and can scale to demand, using tiny fees taken from each transaction. As far as growth, XRP does tend to lag, however, last time Bitcoin was $6k, XRP was $0.20. Now Bitcoin is $6k, and XRP is $0.45. I'll take 100% growth any day. And with some nudging from the Ripple Company, I think XRP is most likely to increase in value, and stay increased, where something else more popular may get pumped faster, then quickly dumped. That happened to XRP already, so I like to think it "got it out of it's system."
To digress a moment on the security/currency/natural resource thing, imagine XRP as a lump of iron. Now imagine you're in the bronze age. Ripple found and mined the iron, and had a lot of it. It was found to be valuable, so Ripple had to carefully manage how it interacts with the Iron supply. Now the lumps are being released by an escrow, so Ripple doesn't control such a large suppy any more. (Ripple is also decentralizing their control of the XRP ledger, with more 3rd party nodes coming online.) So, these lumps of iron are sitting there, and Ripple had an idea. Rather than use horses to carry sacks of gold, they could build a rail system out of the iron. Ripple would control the rail system. The iron could be made into mine carts. So, Ripple doesn't control the carts, just the rails, and so doesn't have to have the carts regulated as portions of the company. Kingdoms can easily transfer their gold to other kingdoms on the rails in the carts that they own. Buy the iron, and you can move value with it. That inherently gives value to the iron, since there is a finite supply. The cool thing is though, what else can iron be used for besides carts? I don't know, but someone like Jeff Bezos might.
Historical Comparison
Jeff Bezos came up with a book sales program. He focused it, got really good at it, and customers loved it. It became super popular, then it branched out and is involved in nearly everything. Anyone who invested in early Amazon is extremely wealthy.
Ripple the Company is getting really good at one thing, global payments. And they may be decentralizing, but Ripple can still nudge XRPs future. In the future, Ripple will certainly find other uses for their programs and for the global XRP supply. For example, imagine if it became the standard Xbox Live or PS4 Online token. Good golly miss molly, everyone and their grandmother would be trying to buy them.
So, with so many unknowns, XRP is unpopular now, and thus cheap. But IF it is ruled not a security, and IF it is used in global remittance markets, and IF the Ripple developers don't get stolen away by other blockchain teams, and IF another coin doesn't come out and do XRPs job better... then this might be a very dirty, balled up, golden ticket. We shall see. If you have questions, please comment, and I will try to better explain what I have found in my research.
Recap
So, being young and able to stomach some epic risks, (really, does the stock market count as risky if everyone intends to be able to have a 4% SWR after inflation?) I am going to put all my eggs in one basket. My life savings in XRP. At least til Im 30. If the gamble fails, I work 8 years as a frugal physician and FIRE before Im 40. If XRP (and a few Eth for good luck) go crazy, I may FIRE before 30. That extra 10 years is, like Tom Hanks says in Joe vs The Volcano, "gold in my hand."
Since there are a lot of ways to get to FIRE, please let me know if anyone else is trying the "eggs in one basket, concentrate wealth to grow" strategy. Or if you took a similarly huge risk that worked out, what is your story?
***I would love to answer any questions, but please also do your own research, and only invest what you can afford to lose. We have income, so we can afford to lose a good chunk of our life savings. We watched our parents survive that in 2009.
submitted by TiredOfRatRacing to financialindependence [link] [comments]

Log of AMA with Skycoin

boldninja Let's all give a warm welcome to @synth from SkyCoin.net and for taking the time to do this AMA
synth *hello
mike Hi Synth
jakethepanda Hey @synth
thrice.pi Hey synth
dr10 Hi
boldninja I think we can start - you guys know the drill. Give him some time to respond (no more than 2-3 questions on backlog so he can catch up)
dr10 How would you - shortly & in easy words - sum-up the advantages of SkyCoin to magazines and non-crypto people?
mgaruccio Can you explain a bit about the mesh net? Is it just an mpls network between nodes or is there something deeper going on?
michaelthecryptoguy Whassup @synth
tranzer hi synth. I have a question - are those coins that are not in circulation in any cold wallets since only a portion is currently available according to CMC? What would you say is the 1 unique feature that Skycoin has?
synth It is very difficult, because Skycoin is a very large project and already has +6 years of development. Different parts of the project have different objectives.
The cryto, coin part is about solving the problems with the existing consensus algorithms. Being able to do +300 transactions a second, transactions in seconds instead of minutes (faster than credit cards), eliminating miners, eliminating block rewards (eliminating inflation) and eliminating 51% attack and the other problems with mining.
then there are other repos and experimental projects under github.com/skycoin such as a meshnet and distributed VPN prototype, where people will be paid coins for forwarding traffic. Also prototypes of distributed social media application, with peer to peer data replication and different experimental projects. Research into immutable data structures for next generation internet. Some of them are very radical.
dr10 How does the Network consensus algorithm Obelisk work and differ from widely known algorithms like Proof of Work and Proof of Stake?
mgaruccio So how much exists today? Could I build an app on the platform if I wanted to?
mike In terms of the rate of progress, what is currently your greatest limiting factor - like funding, manpower, currently available technology?
synth
Can you explain a bit about the mesh net? Is it just an mpls network between nodes or is there something deeper going on?
It is not actually a meshnet. It is software defined networking, it is much more powerful than just meshnet. Its a new type of networking and new completely new protocol and networking namespace, independent of the existing internet.
It supports source routing, while the existing internet does hot potato routing, so never achieves optimal latencies.
It supports multi-homing, which IPv6 does not (Which is critical for when we have gigabit or terabit networking and multi-redundant bandwidth paths)
It has default oppurunistic crypto, both link layer and end to end; so everything is encrypted by default, unlike the current internet.
It has store and forward networking and will operate in Africa or even under conditions where latencies are in the minutes or hours and packet loss is excessive. Where existing protocols cannot operate reliability. It is much more robust than IPv4/IPv6 or TCP/ip
It has improved privacy. If a packet takes a route that is 10 hops, each hop only knows the previous node in the route and the next node in the route. It is not like IPv4 where each packet gives the source and destination. The privacy level is something that does not exist on the current internet.
IP addresses are replaced by public key and no one can read traffic to a destination, without knowing the private key of the public key that identifies the destination. The system does not need 3rd parties or certificate authorities. The design is a revolution.
are those coins that are not in circulation in any cold wallets since only a portion is currently available according to CMC?
The coins are locked into 100 addresses, each with 1 million coins each. And they are released sequentially.
There is a complicated locking procedure and releasing new coins requires unamious consent and a shared secret among a group of developers. Anyone in the shared secret group can block distribution of more coins (to stop the problem that killed NXT). So by design the coins were supposed to be difficult to distribut, there had to be a good reason or justification before a distribution would be approved.
mike What are the hardware requirements to operate a wireless Skywire (the name for the protocol described above) Node?
arc-over-water nxt i think is doing ok..
synth
How does the Network consensus algorithm Obelisk work and differ from widely known algorithms like Proof of Work and Proof of Stake?
PoS and PoW use miners. Miners receive new coins every block as a block reward. So miners are making money and will fight to control the network. An everyone will suffer because the newly created coins represent inflation.
Skycoin was designed to eliminate mining and eliminate the inflation. No block rewards, no new coins. And we needed to develop a new consensus algorithm to do that and there are only a few methods that work, for these constraints. The consensus algorithm is based upon Ben-Or's randomization procedure for achieving consensus in a distributed system, with some improvements for detecting adversarial or malicious nodes who are trying to prevent the consensus process.
There are white papers on skycoin.net about the specifics. I would call it "network consensus" and it uses a sort of Web of Trust (WoT), where if the people creating blocks are doing a bad job or attacking the network, then the community can get rid of them. At the same time, the people who control the network, do not have any real power to attack the network except by slowing down transactions and being annoying, so even if they become malicious the only issue is how to get rid of them and select new people.
mike Any idea when Skywire will be released and ready to test on hardware nodes (testnet or mainnet)?
mgaruccio So if there is no block reward what is the incentive to run a node?
vega What will be the actual function of Skycoin (the coin itself)? Will the coin be used as currency, as transfer of value in and between all these various developing functionalities, semi-separate projects to tie them all together or it's function will be more limited?
michaelthecryptoguy Do you have an idea on the specs of a node that would be required? In the beginning? What about with 10,000 users? (edited)
synth
nxt i think is doing ok..
There were three people that each owned 30% of the coin. One decided he wanted out and began dumping. NXT was over 150 million I think. When he started dumping, it basicly killed NXT.
Skycoin's distribution was designed to stop dumping by the founders and early people.
After Skycoin gets to 30% of the total coins distributed, there will probably a hard time lock on the remaining coins, so that a maximum of 5% of the remaining coins can be released per year. So the distribution for the other 70% of the coins will take a minimum of 14 years (and could be longer).
We cannot even sell the rest of the coins, because if we sold 10% of the total now at $5 per coin, it would be 50 million or something and we cannot spend or even use that amount of money. Not at this stage.
Ethereum spent 30 million or 70 million in their first year or two after the ICO and then nearly went bankrupt. Silicon Valley wages and offices etc. We have been very conservative and have kept costs down and kept them responsible. Now we have coins like EOS and they want to raise a billion dollars and have not produced anything yet, do not hav a blockchain and I have no idea what they would spend that money on, but they are throwing $350,000 parties in time square for marketing/PR etc...
arc-over-water what prevents you from selling? anybody can spend that amount of money?
nxt is a newer platform than sky, market value is $220 million plus $166 million, I get what you are saying but the evidence is wrong. Community is huge and active in Nxt. But you say it is killed, i dont get it?
synth
What will be the actual function of Skycoin (the coin itself)? Will the coin be used as currency, as transfer of value in and between all these various developing functionalities, semi-separate projects to tie them all together or it's function will be more limited?
Yes. Bitcoin has no purpose. An altcoin does two things - check your balance - send money to other people
Two features - check balance - send
For a coin to have value, people need to be forced to buy it to consume specific services. There has to be stuff for people to spend the coin on, that there is demand for.
So Bitcoin is really just a purely speculative asset. It generates no cashflow and its value is determined by perception or social convention.
Ideally, Skycoin would start off as a "better Bitcoin" (faster, more secure, new algorithm, simplier, etc), then over time we would build up an ecosystem and have some type of backing and tie the coin's value into the network and usebase.
The mesh netork (skywire) is good, because it gives something for people to do to get coins and it allows people to consume the coins. You can run your internet traffic through a VPN that tunnels over Skywire and maybe it will be a nominal amount (actually absurdly small amount of money), but there would be real economic activity and a real userbase and community using the coin. Not just speculation.
Later on the scope is much wider.
arc-over-water So the skycoin wallet will be a VPN for our internet usage?
synth
nxt is a newer platform than sky, market value is $220 million plus $166 million, I get what you are saying but the evidence is wrong. Community is huge and active in Nxt. But you say it is killed, i dont get it?
What I am saying, is that NXT would be a lot further along than it is now and probably around where Ethereum is, except for that mistake in the distribution and keeping it too concentrated. It set them back by years. They did not consider what the impact on the price would be, over the long term, when one of the early whales started selling off or decided he wanted out.
arc-over-water But they did the same again with IOTA, same lead dev.. Its over a $Billion
they released and let the market price distribute
synth
So the skycoin wallet will be a VPN for our internet usage?
The VPN is just one application, that uses bandwidth over Skywire. There are several things in development.
This is a BBS like 4chan, that is completely distributed, with CXO. https://github.com/skycoin/bbs
It will run over Skywire also, This is like building a whole new internet from scratch. The apps that run on it are going to specialized and privacy focused, etc GitHub skycoin/bbs Contribute to bbs development by creating an account on GitHub.
mike So Skycoin is a Proof of Resource coin where its value is actually backed by provision of a useful service, in this case private and secure networking? Are there plans to add decentralized storage and even distributed processing to it?
arc-over-water so these 100 separate million coin accounts will be 100 ICOs or how is the distribution patterned? is it written into the code or up to the devs?
rockyj !calculate
slackbot Custom Response https://docs.google.com/spreadsheets/d/1FGo3FkC3uSWXGHatPQyny2brMWjAIJsHFCR-Lhkl_m0/edit#gid=0
synth
So if there is no block reward what is the incentive to run a node?
running a consensus node does not cost anything. You can run it on a raspberry pi.
The important thing is that if the people doing consensus are doing a bad job, that the community can get rid of them and replace them. The other important thing, is that they can be audited and determined automatically if they are obeying the protocol.
the miners in skycoin are not very powerful and cannot do anything except slow down transactions. They are unable to spend other people's money without their private keys, so the consensus/mining nodes are almost irrelevent. It is not like Bitcoin where the miners can hold the network hostage or act selfishly (driving up the transactions fees for their own personal benefit and delaying any innovations that would improve bitcoin for everyone, etc).
So Skycoin is a Proof of Resource coin where its value is actually backed by provision of a useful service, in this case private and secure networking? Are there plans to add decentralized storage and even distributed processing to it?
We have decentralized storage, which is called CXO. But only the bandwidth is monetized by Skywire. We do not nickle and dime and try to attach a coin cost to every API call. Everything that should be free is free. So its a different philosphy.
On top of CXO we also have distributed social media applications (simmilar to Steemit)
CXO is very similar to IFPS, but simplier and designed for our internal infrastructure and with our crypto standards, instead of being a mismash.
mike Is it possible for Skycoin to choose the best paths and route around bad or slow nodes as damage to the network, in effect reducing their impact on consensus?
looks like you answered the question above while I was typing...
tranzer How many tx/s can skycoin handle? What are block times?
thrice.pi 300 right? ^
arc-over-water on your website it says you will have a NON- Turing complete lisp language?
synth
so these 100 separate million coin accounts will be 100 ICOs or how is the distribution patterned? is it written into the code or up to the devs?
We will have a distribution page, up on the website soon. Its complicated.
Skywire, is designed to pull coins out of circuation, through a sort of tithe on network activity and it does automatic buy backs effectively. So the distribution will actually peak and then decline. But one distribution is from the locked coins, and the locked coins are freed, then circulate, then end up at the foundation (from the skywire tithe are pulled out of circulation), but still count towards the free float.
The coin holders also receive a coinhour dividend and there will be a market rate conversion between coin hours and Skycoins and coinhours are the actual currency for the Skywire network. If you do not have enough coin hours, then you sell Skycoin for CoinHour at the market rate, to purchase bandwidth; but if you have a lot of coins then you have enough coin hours for downloading movies or VPN or whatever you are doing and it is essentially free.
So there is a dual level economic structure. Both with coin buybacks to pull coins out of circulation and with a dividend or incentive to encourage users to hold the coin if they are using the network.
arc-over-water so there will be two currencies, holding one reserves the other
synth
Is it possible for Skycoin to choose the best paths and route around bad or slow nodes as damage to the network
Yes. This is very important.
The person dialing a connection, chooses the path of the connection!
You can choose the lowest latency path for video games or Skype, and choose highest throughput paths for video downloads etc. Or can choose paths through specific nodes or facilities or countries, for security concerns and to minimize the number of points that the traffic could be intercepted at.
mike Will Skycoin still have the node subsidy plan for setting up and registering the mesh nodes like originally planned?
dr10 When do you plan to be able to present your planned technology and services to the masses? When can they use what you try do accomplish?
synth
on your website it says you will have a NON- Turing complete lisp language?
That is probably an error. LOL. We will have a new website soon.
There is no scripting language on the skycoin blockchain. Each transaction is constant time (for efficiency and security and to achieve the highest transaction rate and to keep the coin simple).
However, we have a language called CX in development, which is a next generation language that is beyond "smart contracts" and the toy things on ethereum. It uses immutable datastructures and is something completely new. Most of the skycoin "smart contracts" will probably be off blockchain or in personal blockchains and we do not want to shove all the data onto the main chain, because forcing everyone to download everyone one elses contracts it the world is just spamming the blockchain to death. There are better ways to do it.
Will Skycoin still have the node subsidy plan for setting up and registering the mesh nodes like originally planned?
Yes. We are going to get from 20% to 30% distributno of the coins, through network incentives for people running Skywire nodes, consensus nodes and services.
I think this is going to be massive for marketing. And it is the best way to get the coins out to the users, instead of all the coins being held by whales
samuelvihollandia I read how you suggest Skycoin could be used for VPN connections, is this the largest use case you see?
arc-over-water Maidsafe has been working on the redesign of the net for about ten years, what are you doing the same and what different?
synth
I read how you suggest Skycoin could be used for VPN connections, is this the largest use case you see?
No. This is just something easy, that we have working. Its not the largest applicatoin at all.
80% of internet traffic right now is bitorrent and the bitorrent sites are being systematically shutdown and driven off the internet. They wont go away, but will jut go underground. What.cd (largest music tracker, with 800k people) was just shut down, bakabt (largest anime tracker) has gone closed registration, Nyantorrent etc...
User communities of millions of people will be migrating from the clearnet (the existing corporate shit-net) to the "new internet". We are going to see people migrating by the millions, whole user communities of millions of people.
arc-over-water Are you a corporation or foundation or charity? Registered? I am not sure i have seen anything about who you are? What is the dev team size? Background? - Maidsafe is open and clear so is IOTA and Stellar etc. Can you let us know who you and your team are? Especially you are talking about 15 year and up obligations..
techbytes Do we need to hold skycoin to run Skywire nodes or consensus nodes like masternodes from other coins?
synth
Maidsafe has been working on the redesign of the net for about ten years, what are you doing the same and what different?
Maidsafe is in version 2 or 3. Maidsafe will not have a real coin until version 9. Each version takes them about two or three years. Maidsafe will not be "done" or ready for atleast 18 years at this rate.
Skycoin has been in development for ~6 years and the meshnet for 4 years and it will be finished in a few months. To the poin that people can start using it.
Skycoin is similar to maidsafe in the objective, but has a different approach and architecture and primitives. We did not try to do everything, but focused on a smaller, tractable core and got that done.
There will be multiple projects in this space, but few teams are able to plan on the time horizon necisary for building a new internet or able to design each of the components of a system this large, or figure out how to do it so that it is useful at each stage of construction of a project that may take a decade. (edited)
mike Can you see a way for Ark and Skycoin to build on each other in a synergistic manner? I'm all for not reinventing the wheel, especially when it looks like it will be replaced with antigravity like Skycoin.
I see Skycoin as essentially replacing TCP/IP and providing mesh network type functionality at the hardware level, Ark would run on top of it as a top level application layer.
arc-over-water are you up to date on Maidsafe, they are nearly out of Alpha and its more like release early next year? But that being said, Maidsafe says once it is released it is like a virus or AI type, so does Tau Chain, and also Autonomic by HunterMinerCrafter, are we heading towards AI with Maid, Sky Tau and Autonomic?
dr10 smartbridge now! :kappa:
mike So Skycoin would act as a sort of global decentralized cloud server to build on top of.
To communicate, it is more like sharing encrypted files to selected recipients than it is sending messages or hosting sites on a specific server.
synth
Are you a corporation or foundation or charity? Registered? I am not sure i have seen anything about who you are? What is the dev team size? Background?
I think there are over ~60 people who have worked on Skycoin or have made major contributions. Its really a project from the darknet.
Many of the contributors are anonymous. Some of them have security clearances and were in the military industrial complex and one of them worked at the San Diego Naval Defence Research Lab and a lot of the idea for the networking protocols came out of public sector academic researched, funded from there.
We also have a lot of very very early Bitcoin people, hardcore crypto people that predate Bitcoin and an Ethereum core developer, etc..
On the Chinese side we have an early investor in Alibaba and telecom investor. And are doing pilot with china aviation group (owns four publicly traded airline companies) and apparently now Sinopec (which is 2nd largest publicly traded corporation in world).
Then we have people who are part of israeli and US intelligence and are probably doing some sort of money laundering or phychological operations background, who just showed up for some reason. This group seems very interested in the "applications" of these coins and how to improve tranaction privacy and the specifics of the CoinJoin protocol implementation. We got a lot of advice from people experienced in forensic accounting and what they wanted to see and where they felt Bitcoin was deficient and where it leaked metadata.
Then a bunch of PHD level people doing research into distributed database consensus algorithms and another group doing programming language research.
Then a lot of people from the deep darknet, anon, frog twitter and cipher punks and bitorrent communities. (really should be listed as two seperate groups). And people from the Russian darknet community. We have like eight Ivans. (edited)
I see Skycoin as essentially replacing TCP/IP and providing mesh network type functionality at the hardware level, Ark would run on top of it as a top level application layer.
Yes. The key functionality is two things - connecting to people by public key (networking) - distributing self validating, immutble data peer to peer (transactions, blocks etc... content addressible storage)
And you can build almost anything on those two building blocks. The whole internet will eventually be rewritten on top of those primitives and it will replace many of the existing protocols.
arc-over-water Who is the entity that is funding this? I think you have done 2 ICOs? How much did you receive? The first was 10c and the second was @ 50c per coin, released 6 million, is that correct?
samuelvihollandia Are you planning to enter a different exchange market soon?
arc-over-water Have you personally been in Sky from the start? What members have? Who allocates the ICO money etc... I hope you understand that decentralization with investment is a two edged sword, we invest in people but we cannot know these people.... So... we question.. (edited)
thrice.pi with all these outside parties that helped to build skycoin and bring it where it is today who are the main core team who will help to keep all these cool features running. Will these outside parties be recruited for the long haul?
synth
Who is the entity that is funding this? I think you have done 2 ICOs? How much did you receive? The first was 10c and the second was @ 50c per coin, released 6 million, is that correct?
The people who funded the project for the first four years, were early bitcoin and deep crypto people; who were unhappy with the fact that Bitcoin and the other alts did not seem concerned about the core issues at all. They gave us over 1200 bitcoin I think, over several years and did not ask for anything in return.
The early Skycoin devs were doing academic research, architecture and new algorithms. Prototyping and simulation. The later stage people were more project managers and doing implementation.
We did four ICOs for small amounts, to fund development and to allow developers working on the project to buy in. The first ICO I remember was at $0.10 per coin and the price now is about $4.00 per coin, so its up ~35x or 40x, but when you consider the Bitcoin price going from $100 to $3000, the increase has not been so much. lol (edited)
arc-over-water With the price up 35x in about 1 year, is it not now time to cool the run up and release another ICO? At what amount of coins released and what procedure?
mike Would Intel Edison or Joule, or Samsung Artik 10 work well as a Skywire wireless node? They have 2 Gb-8 Gb RAM, 8-64 Gg eMMC storage, 802.11n wireless, bluetooth, and some with Zigbee?
synth
Have you personally been in Sky from the start? What members have? Who allocates the ICO money etc... I hope you understand that decentralization with investment is a two edged sword, we invest in people but we cannot know these people.... So... we question.
I think there wer three different groups that merged together in first three years, that had similar objectives. Because the code was in different language. There was python, C code and then eventually golang and the golang code became the basis for the current codebase.
The way the coin allocations work, is that it requires unamimious consent for releasing coins and it has to be for a specific, ear marked purpose and can be blocked by any of the devs.
Then there is a pool of coins in bitcoin for various project managers to allocate. And that is an operational fund for paying developers, contractors, marketing etc. Then different people have different responsibilities.
Then we also have corporate funding and sponsorship and some companies paying our full time devs etc, which helps a lot.
arc-over-water Silicon Valley (TV SHOW) recently had their decentralized web running on a network or refrigerators? So i would guess, smart phones, smart gadgets? Home gadgets etc could add services and receive rewards from Sky?
mike best would be a totally open source and publicly audited manufactured system on a chip for the nodes to prevent any backdoors. Even chip designers now don't really know what they're putting into the chips since they just drag and drop black boxes known as IP cores into the ASIC designs.
synth
With the price up 35x in about 1 year, is it not now time to cool the run up and release another ICO? At what amount of coins released and what procedure?
I think the Skycoin price has been doubling every 40 days, for as long as I can remember. However, it will still be years before it is in the top 20, its still a long way to climb. It took bitcoin years to go from 0 to $1, even though it was growing at 1% per day the whole time for six years.
best would be a totally open source and publicly audited manufactured system on a chip for the nodes to prevent any backdoors.
we are going to use arm
arc-over-water IOTA is also working on their own hardware for nodes etc, Trinary asset is JINN
synth all intel and AMD systems have remote management engine backdoors. So they are not safe for storing large amounts of coins.
We also have alpine linux and special version of linux, that is 6 MB and has everything that is needed for running our toolchain. It will not have any binary blobs in the kernel or anything that we cant compile from source. It does not have systemd and does not have gli, but uses musl. And does not have openssl.
mike so looks like the Samsung Artik 5 and 10 can run it no problem, they're ARM based. 25x35x4mm package for the Artik 10, Artik 5 is smaller, less powerful but has 2 separate antenna ports, nice for mesh networking with an omni and a directional antenna.
earlyarkinvestor how does Ark compare to Lisk?
synth uploaded this image: 1923810435.jpg Add Comment
earlyarkinvestor isn't Lisk trying to achieve interoperability between blockchains as well
synth uploaded this image: 1433594905.jpg Add Comment
synth uploaded this image: 1432540863.jpg Add Comment
synth uploaded this image: 2049465686.jpg Add Comment
mike nice! looks like an ARM based server rack
let me know if you need any help with it, see you're on solidworks, which I run as well.
synth this is the skycoin cluster; it has 8 CPU boards; 4 cores per CPU, 2 GB of ram per CPU and 64 bit ARM processor. Only one program will run on each individual board, so there is compartmentalization and a physical gap so that compromising one process on a system does no allow all other processes on the system to be compromised
mike looks like 2 ethernet ports per board.
synth and the hardware does not have the qualcom backdoors and is actually chinese equipment; and the backdoors are normally at the kernel level because they are not at hardware backdoors yet
lol
mike do they have SATA ports, maybe M.2 for storage?
synth and we will hav an ARM openwrt router eventually too
this model does not have SATA, but we have a model with SATA; you could hook up 16 2 TB drives, lol and download half the piratebay to your cluster (edited)
the skycoin infrastructure is cluster based and designed for running across +300 computers, with one "node" deployed per computer. Eithe a CXO storage node, or a skywire SDN/meshnet node, or a VPN end point node or a consensus network, or skycoin node, etc. We have multiple node/application types.
so this is a "personal cloud' by itself
its not like StoreJ where you have other people storing your stuff; you are going to have ~5 clusters and 300 computers and can store your own files, on your own internet, on your own hardware. You do not need to go outside of your own network.
mike Have thought it'd be nice to have a board with an array of M.2 sockets to run SSD arrays without all the cables, have the busses shielded in circuit board.
synth yes, i think there will be m.2 eventually
these actually use a microSSD for storage, and its 48MB/s
mike any idea on the pricing on your ARM boards in quantity? We are looking at Intel for Bitseed V3, but ARM would be good to stay with, especially using your boards if there is SATA.
arc-over-water Do you have a general idea of usable functions to be released next in what order? The first release was the Coin and wallet, then the ICOs and can you give a general future with dates if you can
synth the boards are $30 each and the memory for solid state, is actually more than the the cost of the CPU/RAM/board now. Which is sort of insane.
mike so you have microSSD, what's maximum size? we shipping 1with Tb hard drives right now
synth Bitseed mike is going to help with this; so we can pool the boards and do a custom PCB
mike yes, that's where we see the price jumps, is in RAM and eMMC costs.
and it's hard to find low cost boards with SATA
synth try the orange pi
the price goes up 30% for SATA
mike yes, very nice specs.
synth eventually, we will make one that has custom PCB and is a pluggable blade server, I think.
mike I like the Samsung Artiks for the tiny form factor for drone routers, cubesat/picosat possibilities.
but like the fact that you are controlling much deeper down the supply chain with your boards.
synth we only need ram, CPU, then microSD slot; and that is it. so the wifi and all this other stuff is just crap and its junk. We only have communication, storage and computation. So should be minimialist.
submitted by Jarunik to ArkEcosystem [link] [comments]

2000W Bitcoin Mining PSU PC Power Supply Computer Mining Rig 8 GPU ATX New Doubler Site Live Deposit  1 Day Of Running  Double Your Bitcoin , Ethereum , Liitecoin Mining 0.48 Ltc Withdraw Proof  New Free Litecoin Ltc Mining Site 2020  Free Mine Ltc Without Invest Anatomy of a Cryptocurrency Mining Rig / Genesis Mining #EvolveWithUs - The Series Episode 1 New Free Ethereum Mining Website 2020  Mine 1.0 Eth Daily  How To Earn Free Ethereum Online

MiningCave is worldwide distributor offering after sales service, technical support and repair center in Cryptocurrency Mining Hardware. We sell the Best Product on the Market, ASIC and GPU Mining Hardware Bitcoin Miner, Litecoin Miner, Ethereum Miner and every new model on the market. We are based in Canada. Bitcoin Mining Hardware Bitcoin Mining Rigs What Is Bitcoin Mining Coin App Coin Logo Ethereum Mining Computer Equipment Bitcoin Generator Coin Prices 94 Platinum 1200 Watt Power Supply Kit for GPU Open Rig Mining Ethereum Zec for sale online | eBay Kingwin Bitcoin Miner Rig Case W/ 6, 8, or 12 GPU Mining Stackable Frame - Expert Crypto Mining Rack W/Placement for Motherboard for Mining - Air Convection to Improve GPU Cryptocurrency (12GPU) a Mining Rig, Ethereum ETH, Bitcoin BTC, Litecoin. 3.2 out of 5 stars 15. $74.99 $ 74. 99. $20.00 coupon applied at checkout Save $20.00 with 6 GPU Mining Rig 5 Fans Aluminum Miner Case Stackable Rack Open Air Frame Overlying Kit ETH ETC ZCash Ethereum Bitcoin Altcoins(5 Fans Included)(Ships from US) $ 0.00 More Info and Reviews Alice Dreams 6-Pack PCIe Dual Chip PCI-E 16x to 1x Powered Riser Adapter Card w 60cm USB 3 0 Extension Cable 6 Pin PCI-E to SATA Power Cable for Bitcoin Ethash Still Accessible to Home-Based Mining Rigs. In 2020, the Ethash algorithm is still amenable to home-based mining, and it is possible to build a rig and compete for block rewards.. An Ethereum mining rig is best built using GPU. Currently, there are specialized rigs with about 200 million hashes per second.

[index] [12654] [3318] [12695] [15433] [12863] [7903] [9273] [9622] [1879] [13718]

2000W Bitcoin Mining PSU PC Power Supply Computer Mining Rig 8 GPU ATX

earn ethereum coins free,how to eam ethereum coins free 2020,online ... ethereum,ethereum investing.bitcoin investing.ethereum mining.buy ethereum,acheter des bitcoins.bitcoin machine, ethereum ... Mining coin Ethereum hanya dengan 1 GPU card NVIDIA GTX 1060 APM PLUS 6GB. Hashrate cukup untuk mining, tapi jika hanya satu gpu saja, belum tentu bisa mendapat profit. This mining rig mines all of the top coins to mine in 2019 and going into 2020. Top coins to mine include but are not limited to Ethereum, Beam, Zcoin, Monero, Grin coin, Ycash, and many others! 2000W Bitcoin Mining PSU PC Power Supply Computer Mining Rig 8 GPU ATX Ethereum Coin 12v 4 pin Power supply Free shipping Check here: https://getdetailalie... free ethereum earning and mining site 2020 with live payment proof, new free ethereum miner pc, new free ethereum mining pc 2020, ethereum mining computer farm, free ethereum miner for pc laptop ...