Scrypt mining calculator minerstat

NobleCoin

A crypto currency for the most Noble.
[link]

I am a 15MH/s Scrypt miner. I trade 50% of everything I mine straight to Bitcoin. How on earth do I calculate tax obligations with the IRS?

I have been mining Scrypt since December. I have about 4 Bitcoins, and about another 6 Bitcoins worth of Doge, Lite, Redd, and Feather. I also like to play-trade on Cryptsy regularly.
I have read through the new IRS regulations, and have determined there is no way on earth I can calculate my obligations? Can anyone help.
I really don't want to be Wesley Sniped by Uncle Sam.
submitted by appleluckyapple to Bitcoin [link] [comments]

Gridcoin 5.0.0.0-Mandatory "Fern" Release

https://github.com/gridcoin-community/Gridcoin-Research/releases/tag/5.0.0.0
Finally! After over ten months of development and testing, "Fern" has arrived! This is a whopper. 240 pull requests merged. Essentially a complete rewrite that was started with the scraper (the "neural net" rewrite) in "Denise" has now been completed. Practically the ENTIRE Gridcoin specific codebase resting on top of the vanilla Bitcoin/Peercoin/Blackcoin vanilla PoS code has been rewritten. This removes the team requirement at last (see below), although there are many other important improvements besides that.
Fern was a monumental undertaking. We had to encode all of the old rules active for the v10 block protocol in new code and ensure that the new code was 100% compatible. This had to be done in such a way as to clear out all of the old spaghetti and ring-fence it with tightly controlled class implementations. We then wrote an entirely new, simplified ruleset for research rewards and reengineered contracts (which includes beacon management, polls, and voting) using properly classed code. The fundamentals of Gridcoin with this release are now on a very sound and maintainable footing, and the developers believe the codebase as updated here will serve as the fundamental basis for Gridcoin's future roadmap.
We have been testing this for MONTHS on testnet in various stages. The v10 (legacy) compatibility code has been running on testnet continuously as it was developed to ensure compatibility with existing nodes. During the last few months, we have done two private testnet forks and then the full public testnet testing for v11 code (the new protocol which is what Fern implements). The developers have also been running non-staking "sentinel" nodes on mainnet with this code to verify that the consensus rules are problem-free for the legacy compatibility code on the broader mainnet. We believe this amount of testing is going to result in a smooth rollout.
Given the amount of changes in Fern, I am presenting TWO changelogs below. One is high level, which summarizes the most significant changes in the protocol. The second changelog is the detailed one in the usual format, and gives you an inkling of the size of this release.

Highlights

Protocol

Note that the protocol changes will not become active until we cross the hard-fork transition height to v11, which has been set at 2053000. Given current average block spacing, this should happen around October 4, about one month from now.
Note that to get all of the beacons in the network on the new protocol, we are requiring ALL beacons to be validated. A two week (14 day) grace period is provided by the code, starting at the time of the transition height, for people currently holding a beacon to validate the beacon and prevent it from expiring. That means that EVERY CRUNCHER must advertise and validate their beacon AFTER the v11 transition (around Oct 4th) and BEFORE October 18th (or more precisely, 14 days from the actual date of the v11 transition). If you do not advertise and validate your beacon by this time, your beacon will expire and you will stop earning research rewards until you advertise and validate a new beacon. This process has been made much easier by a brand new beacon "wizard" that helps manage beacon advertisements and renewals. Once a beacon has been validated and is a v11 protocol beacon, the normal 180 day expiration rules apply. Note, however, that the 180 day expiration on research rewards has been removed with the Fern update. This means that while your beacon might expire after 180 days, your earned research rewards will be retained and can be claimed by advertising a beacon with the same CPID and going through the validation process again. In other words, you do not lose any earned research rewards if you do not stake a block within 180 days and keep your beacon up-to-date.
The transition height is also when the team requirement will be relaxed for the network.

GUI

Besides the beacon wizard, there are a number of improvements to the GUI, including new UI transaction types (and icons) for staking the superblock, sidestake sends, beacon advertisement, voting, poll creation, and transactions with a message. The main screen has been revamped with a better summary section, and better status icons. Several changes under the hood have improved GUI performance. And finally, the diagnostics have been revamped.

Blockchain

The wallet sync speed has been DRASTICALLY improved. A decent machine with a good network connection should be able to sync the entire mainnet blockchain in less than 4 hours. A fast machine with a really fast network connection and a good SSD can do it in about 2.5 hours. One of our goals was to reduce or eliminate the reliance on snapshots for mainnet, and I think we have accomplished that goal with the new sync speed. We have also streamlined the in-memory structures for the blockchain which shaves some memory use.
There are so many goodies here it is hard to summarize them all.
I would like to thank all of the contributors to this release, but especially thank @cyrossignol, whose incredible contributions formed the backbone of this release. I would also like to pay special thanks to @barton2526, @caraka, and @Quezacoatl1, who tirelessly helped during the testing and polishing phase on testnet with testing and repeated builds for all architectures.
The developers are proud to present this release to the community and we believe this represents the starting point for a true renaissance for Gridcoin!

Summary Changelog

Accrual

Changed

Most significantly, nodes calculate research rewards directly from the magnitudes in EACH superblock between stakes instead of using a two- or three- point average based on a CPID's current magnitude and the magnitude for the CPID when it last staked. For those long-timers in the community, this has been referred to as "Superblock Windows," and was first done in proof-of-concept form by @denravonska.

Removed

Beacons

Added

Changed

Removed

Unaltered

As a reminder:

Superblocks

Added

Changed

Removed

Voting

Added

Changed

Removed

Detailed Changelog

[5.0.0.0] 2020-09-03, mandatory, "Fern"

Added

Changed

Removed

Fixed

submitted by jamescowens to gridcoin [link] [comments]

ACIS-mining and its 3 best algorithms

ACIS-mining and its 3 best algorithms
Hello. 👋🏻 Today we will tell you about ACIS-mining and its 3 best algorithms.
📌 With the advent of ASICs for mining, it became possible to mine Bitcoin in much larger quantities than using video cards. ASIC is an integrated circuit specialized to solve a specific problem, in our case, only for bitcoin mining. These schemes are many times more profitable than video cards, because with more power (hash calculation speed) they consume much less energy. This served as a good reason to create a cryptocurrency mining business.
📌 In bitcoin and other blockchain systems, the complexity of mining depends on how quickly the miners find the block. Compared with the GPU and CPU, specialized #ASIC miners solve #PoW puzzles better and are therefore able to quickly find new blocks.
📌 Since PoW is still the preferred mining consensus mechanism, we propose to take a multiple algorithm approach. Instead of trying to use algorithms which are ASIC resistant, we propose to use algorithms which have had ASIC miners for quite some time. These are: #SHA256, #Scrypt, and #X11.
🔹 The SHA-256 algorithm has a number of advantages over other information protection technologies. Over the years of use in the cryptocurrency industry, he has shown his resistance to various hacking attempts.
🔹 Scrypt is a cryptocurrency mining algorithm that was previously interesting to many single miners in view of its resistance to the so-called “hardware attack”. The speed of creating blocks in a Scrypt-based blockchain is about 30 seconds. The hashrate, like Ethash, is measured in Megahash per second. Scrypt, first of all, became popular due to its use in Litecoin #cryptocurrency.
🔹 X11 is an encryption algorithm in which eleven are used instead of one function. This means that this technology can provide a high degree of security, because in order to harm the system, an attacker will have to crack all 11 functions, which is very unlikely, because the changes made will be visible after breaking the first function, and developers will have a lot of time to protect the system before the hacker reaches the eleventh function.
Since these miners are already in wide use, the distribution of mining should be fair and even. Furthermore, the use of three different algorithms results in a far less chance of any single person gaining a majority hash rate share. Lastly, we use the Multishield difficulty adjustment algorithm to prevent difficulty spike issues resulting from burst mining.
Read more about PYRK mining solutions here: https://www.pyrk.org
Read our Whitepaper to know more about the project:
https://www.pyrk.org/Pyrk-Whitepaper.pdf
https://preview.redd.it/rxmlr7wt1k251.png?width=1200&format=png&auto=webp&s=162f9ddaacb3cf3e137638464a208bdf25e50a21
submitted by VS_community to pyrk [link] [comments]

Features of using PoW in the PYRK system

Features of using PoW in the PYRK system
Hello, community! 👋🏻 In this post, we will tell you about Proof-of-Work and Proof-of-Stake algorithms and why PYRK uses PoW.
⛏ Proof of work allows the blockchain to remain “clean”, allows the entire community to compete to verify the validity of transactions, and makes attacks on the system very costly. But is this cost of attack justified? Aste argues that it should be sufficient to make the double-spend attack too costly.
⛏ A double spend attack can occur in a situation where an attacker tries to send the same bitcoin to two different users. In such a case, the attacker would try to spend as many bitcoins as possible twice. This number is limited by the number of transactions that can fit in a block, which in value terms is currently about $ 2 million.
⛏ A transaction involving more than the total cost of transactions in the block will attract attention from the network. This puts a real limit on the size of a double spend of about $ 2 million. And although the duplication of transactions can be repeated several times sequentially or in parallel, we will neglect it in this calculation.
🏆 PYRK Proof-of-Work triple algorithm
🔹 PYRK takes a multiple algorithm approach. We propose to use algorithms which have had ASIC miners for quite some time. These are: SHA256, Scrypt, and X11.
🔹 Since these algorithms are already in wide use, the distribution of mining should be fair and even.
🔹 There’s a far less chance of any single person gaining a majority hash rate share when using three different algorithms simultaneously.
🔹 Also, we use the Multishield difficulty adjustment algorithm to prevent difficulty spike issues resulting from burst mining.
💡 The idea of multi-algorithm originated in Digibyte. Splitting the mining into three different algorithms effectively splits the amount of work performed by each algorithm to 33% of the total network hashrate. The triple algorithm approach helps to further protect the network from bad actors while also providing the preferred Proof-of-Work mechanism.
Read more about PYRK project: https://www.pyrk.org
https://preview.redd.it/3l5wegef9gc51.png?width=1200&format=png&auto=webp&s=7cb7391a1f3e01425de7eace49e674ac6f65c7ea
submitted by VS_community to pyrk [link] [comments]

Mining: Weird Time to Start, a Good Time to Think

Mining: Weird Time to Start, a Good Time to Think
Well, it’s supposed to be an optimistic article about most promising mining cryptos, but then something happened. No one was too naive to believe that the events unfolded around the COVID-19 pandemic will not affect global markets, but the turbulence that occurred was very significant and, what is most sad, it is still very difficult to say how soon the situation will stabilize.
https://preview.redd.it/9xxheofluzp41.png?width=1024&format=png&auto=webp&s=cd8ca033faddf57ea041e82ceadee1037b8587f1
Many people were already bothered that crypto mining is becoming less profitable in 2020 and will be meaningless very soon, but even though big companies having bigger resources took over most of the industry, cryptocurrency mining using video cards remains available to common users and still has potential.
Despite, the volatility of the cryptocurrency market hashrate of the Bitcoin blockchain network yet remains almost at the same level and that is a quite positive sign. At the moment, the most reliable option seems to be to leave mining to large ASIC-farms and return when the stock panic subsides and the prospects will be clearer.
Although Bitcoin is still the most popular cryptocurrency on the market, every year the complexity of operations necessary for its production increases, and rewards fall (after halving in May 2020, we will talk about 6.25 BTC per block). For mining many altcoins, the threshold for entry is much lower, therefore it makes sense to look for a more profitable option among them.
But first, let’s try to understand a little what conditions we need for profitable mining.
There are several crucial aspects that determine how profitable mining will be. These are such obvious things as the price of the currency or the amount of reward for the generated block.
And this is the reason it is now very difficult to calculate the possible income. One way or another, the market price of altcoins depends on the position of bitcoin, which is experiencing bad times. For several months, the world of crypto mining has been preparing for the May halving, because the reduced supply led to a significant increase in prices. This time should not have been an exception, but now when bitcoin does not rise above $5500 and risks falling below $3500, we can only make vague guesses about its potential price in May. Many analysts tend to believe that closer to the middle of April, the negative effect of the crisis should be reduced, and positive expectations from halving and a large amount of cash from investors should have a positive impact on the price of bitcoin. Altcoins, as a rule, repeat the dynamics of the first cryptocurrency and will also continue their growth to historical highs in the year’s future.
Next, you should also pay attention to the complexity of mining because it affects the time and energy spent on generating the block. Do not forget about the cost of electricity in your region, as one extra-large bill can negate all your efforts to earn money on currency mining.
Do not forget about expenses on a mining rig and it’s amortisation.
In addition to the above, you should find out how practical the chosen currency is: whether it can be exchanged for fiat or more popular coins, what fees are charged by exchanges that work with it, and what reputation it has in general.
In order to avoid unpleasant mistakes, it is easier and more reliable to check the possible profit in one of the many calculators.

Best altcoins to mine in 2020

Monero is the currency with the highest anonymity rates, which stays attractive to many users and remains one of the strongest altcoins. The specific proof-of-work hashing algorithm does not allow ASIC-miners, so it is relatively easy to mine using personal computer’s processors and graphics cards. AMD graphic cards are preferable for this task, but NVidia suits as well. The current block reward is 2.47 XMR.
Litecoin is one of the oldest Bitcoin forks, but unlike it uses a different “Script” PoW algorithm which allows less powerful GPUs to mine coins. Litecoin is on the most popular, and successful Bitcoin forks and considered one of the most stable cryptocurrencies. Block mining reward is 12.5 LTC.
Ravencoin is another Bitcoin hardfork, and like Monero’s its X16R algorithm is practically unavailable for ASIC machines. Raven keeps gaining popularity for many reasons – it has faster block time, higher mining reward (5,000 RVN at the moment) and secure messaging system.
Dogecoin is not a joke anymore. Hard to believe, but this currency once made for fun, became one of the most valuable ones. Like Litecoin it uses Scrypt algorithm and great for mining with GPUs.
One more Bitcoin fork Bitcoin Gold was made specifically to kick out ASICs and clear the road for GPUs. It may not be the fastest-growing currency, but it is definitely one of the most stable.
That’s all for today. Stay safe, cause health is our most important asset.
Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [[email protected]](mailto:[email protected])
submitted by Stealthex_io to StealthEX [link] [comments]

Verge Currency Beginner's Guide

Verge Currency Beginner's Guide
A short Background
2008 was the worst financial crisis the world had experience since the great depression. The efforts of banks worldwide were not enough to prevent its occurrence. Shortly after, someone by the name of Satoshi Nakamoto offered an alternative solution. A digital currency that removes the need for a central bank. His proposal written in the Bitcoin white paper, is summarized below:
  • A secure, decentralized network.
  • A system with economic properties.
  • No need for banks or rule makers.
  • Instant transactions without a need of a third party or government approval.
  • Bringing financial services to the unbanked 2.5 billion people.
  • Total financial freedom. No one can freeze your accounts.
  • Low transaction costs. No ridiculously high transaction fees.
  • A currency with finite amount where no one can print money whenever they want.
Bitcoin
In 2009, when Satoshi Nakamoto launched Bitcoin, the network consisted of computers (in crypto terms, these are called Nodes) to approve transactions, movements of data along the chain. This allows for everyone willing to become a participant, creating a decentralized global network. Allowing for a decentralized currency, free of the control of politicians, or institutions.
The rules can only be changed if 51% of the network agrees on it. This way the network is completely democratized and resistant to hacking attacks.
Unlike today’s financial institutions, no one can freeze your account or prevent you sending money. You are the only person who truly holds your wealth.
It is an open source project. Anyone can see the code and offer or discuss changes with the community. On the other hand, anyone participating to the network with computational power gets incentives or pay, with a fractional amount of BTC.
Blockchain
The core of a secure decentralized network like Bitcoin, lies the Blockchain technology. To put it simply, the blockchain is like a series of Lego, connected to each other by linking information, called transactions. These transactions contain the following data sender, receiver and the unique signature of the sender.
The data will be converted into “hash” before being saved into a block. The bitcoin hash is generated using a set of cryptographic functions called sha256. This way the information is encrypted, is compressed and saved in the block.
Additionally, each block in the chain, contains the information from the block before it. This ensures that if someone tries to maliciously modify information in a block, all the block following this attempt will be changed, making it easier to spot.
Each block includes the information from the previous block. If someone wants to maliciously change the information in one block that change the complete result of all following blocks.
In this type of network there is only one blockchain, and all the information is kept in a public ledger which is shared amongst all the participating networks. For the blockchain to be valid, more than 50% of the participants (nodes and their computational power) must agree with it.
Bitcoin Today (2018)
Until today many, many, events have happened. The network has grown massively. The underlying code is improved in many ways. There are more and more developers and investors that have entered the cryptocurrency space.
Currently there are proposed changes being developed to the Bitcoin network that will make bitcoin rival the centralized networks of today (Visa, Mastercard), while significantly lowering the cost of these transaction.
Many alternative cryptocurrencies have been created along the way, improving some of the aspects of the bitcoin and focusing on certain applications, in the crypto-space, we call them altcoins.
WHY VERGE
The way that Bitcoin function, has severe flaws with regards to privacy:
  • Public Ledger: The transaction information is public, meaning, that transactions can be linked to a person.
  • IP Leakage: A persistent and motivated attacker will be able to associate your IP address with your bitcoin transaction.
Due to the above reasons, it was clear that there would be a need for a privacy coin. Different coins were then created that had this problem in mind. They were ‘too private’ in the sense that they completely by-passed the public ledger. The public ledger allows merchant to provide proof of transactions, which is important for bookkeeping.
Enter Verge Currency, formerly Dogecoindark; which offers transaction on the ledger, both public and private. Allowing the user to choose if the transactions are public or private.
VERGE CURRENCY
2014 saw the birth of Dogecoin Dark; in 2016, it was rebranded to Verge Currency.
Verge improves upon the original Bitcoin blockchain and aims to fulfill its initial purpose of providing individuals and businesses with a fast, efficient and decentralized way of making direct transactions while maintaining your privacy.
What is the Verge Currency Mission?
Verge Currency aims to empower people around the globe using blockchain in everyday life and makes it possible for people to engage in transactions quickly, efficiently and privately. With Verge, business and individuals now have flexible options for sending and receiving payments.
Verge Currency also offer helpful integrations and tools that enable them to handle large scale transactions between merchants and small-scale private payments.
Is Verge Currency a private company and how is it funded?
Following in the spirit of Bitcoin, Verge is an open-source software, and a community. It is not a company, never had an ICO. The development is entirely funded by the community and the developers. Currently Verge is looking into setting up an official Verge merchandise store, and an Official Verge mining pool, for multiple algorithms.
Tech
General technical capabilities of XVG blockchain:
Protocol PoW (Proof of Work)
Algorithms Scrypt, X17, Lyra2rev2, myr-groestl and blake2s
Max Coin Supply 16.5 billion XVG
Circulation Supply 15.2 billion XVG
Minable yes
Atomic Swaps Enabled
Tx (Transaction) Speed 5-10 Seconds
Tps (Transactions per sec.) 100 (Will be ~2000 with RSK)
Tx Fee 0.1 XVG
Privacy Options:
Tor + I2P Networks fully obfuscated IP address / User's Location is hidden
Stealth Addresses It enables users to anonymously receive funds to their wallet. Therefore third parties are no longer able to track receivers addresses, nor are they able to combine official wallet addresses with their stealth addresses.
RING CT Under development
See our blackpaper V5.0 for detailed information.
Development Updates
Marketing Updates

Wallets
Mining

Community
Verge is a community-driven project. The community is the pillar of Verge, from the past to the future, the community built Verge. The community or Vergefam connects everyone from around the world, regardless of cultural background. The common vision is to provide everyone access to financial freedom, and the choice of privacy while transacting.
Below you can find the Verge Telegram communities from around the world;
Official Telegram
🇧🇷 🇵🇹 Brasil/Portugal/
🇨🇦 Canada
🇳🇴 🇸🇪 🇩🇰 Norway/Sweden/Denmark
🇩🇪 🇦🇹 🇨🇭 🇱🇮 Germany/Austria/Switzerland/Liechtenstein
🇵🇹 Portugal
🇪🇸 Spain
🇱🇺 Netherlands
🇹🇷 Turkey
🇫🇷 France
Balkan
🇵🇾 Croatia
🇦🇱 🇽🇰 Albania/Kosovo
🇷🇴 Romania
🇭🇺 Hungary
🇷🇺 Russia
🇮🇳 India
🇲🇾 Malaysia
🇯🇵 Japan
🇰🇷 Korea
🇨🇳 China
🇿🇦 South Africa
🔌Wallet Support
🖥️ Mining support
Mass Adoption
Low fees, quick transactions, high volume in circulation, multiplatform support, Wraith protocol are the ingredients that make Verge perfectly positioned for mass adoption. Transact on the public ledger for everyday purchases or stay private if you wish so.
Getting Started
You can find the matching instructions as below:
See the following useful links:

Official Links
Vergecurrency.com
Verge Team
Roadmap
FAQ
Github
Block Explorer 1
Block Explorer 2
Network Status
Telegram
Twitter
Facebook
Discord
Youtube
Medium
Investfeed
Verge Zendesk
VergeFora
Last Edit: Latest development update links are added to the Tech section.
submitted by Desolatorbtc to vergecurrency [link] [comments]

DogeNoob is Confused about Profit

Hello Shibes.
I am new to coin mining and I am looking in to the various currencies to choose the best one for me. I have used a calculator to get an idea of the investment/profit of mining dogecoin but I am getting a less than desirable outcome.
Here is what I have as a setup to start.
$2400 investent.
The calculator is spitting out a whopping $24 annual profit. -_-
Whether it is my use of the calculator, or choice in equipment, please tell me what I am doing wrong. It is much appreciated.
https://i.imgur.com/AZeiqy7.png
EDIT: I fixed the power consumption thanks to your helpful responses. I am hearing that an "ASIC Scrypt Card" may be better than the AMD cards? Could I get some info and/or a link?
New calculation: https://i.imgur.com/Cjb9PAp.png
submitted by KeplerNeel to dogecoin [link] [comments]

AN INTRODUCTION TO DIGIBYTE

DigiByte

What are cryptocurrencies?
Cryptocurrencies are peer to peer technology protocols which rely on the block-chain; a system of decentralized record keeping which allows people to exchange unmodifiable and indestructible information “coins,” globally in little to no time with little to no fees – this translates into the exchange of value as these coins cannot be counterfeit nor stolen. This concept was started by Satoshi Nakamoto (allegedly a pseudonym for a single man or organization) whom described and coded Bitcoin in 2009.
What is DigiByte?
DigiByte (DGB) is a cryptocurrency like Bitcoin. It is also a decentralized applications protocol in a similar fashion to Neo or Ethereum.
DigiByte was founded and created by Jared Tate in 2014. DigiByte allows for fast (virtually instant) and low cost (virtually free) transactions. DigiByte is hard capped at 21 billion coins which will ever be mined, over a period of 21 years. DigiByte was never an ICO and was mined/created in the same way that Bitcoin or Litecoin initially were.
DigiByte is the fastest UTXO PoW scalable block-chain in the world. We’ll cover what this really means down below.
DigiByte has put forth and applied solutions to many of the problems that have plagued Bitcoin and cryptocurrencies in general – those being:
We will address these point by point in the subsequent sections.
The DigiByte Protocol
DigiByte maintains these properties through use of various technological innovations which we will briefly address below.
Why so many coins? 21 Billion
When initially conceived Bitcoin was the first of a kind! And came into the hands of a few! The beginnings of a coin such as Bitcoin were difficult, it had to go through a lot of initial growth pains which following coins did not have to face. It is for this reason among others why I believe Bitcoin was capped at 21 million; and why today it has thus secured a place as digital gold.
When Bitcoin was first invented no one knew anything about cryptocurrencies, for the inventor to get them out to the public he would have to give them away. This is how the first Bitcoins were probably passed on, for free! But then as interest grew so did the community. For them to be able to build something and create something which could go on to have actual value, it would have to go through a steady growth phase. Therefore, the control of inflation through mining was extremely important. Also, why the cap for Bitcoin was probably set so low - to allow these coins to amass value without being destroyed by inflation (from mining) in the same way fiat is today! In my mind Satoshi Nakamoto knew what he was doing when setting it at 21 million BTC and must have known and even anticipated others would take his design and build on top of it.
At DigiByte, we are that better design and capped at 21 billion. That's 1000 times larger than the supply of Bitcoin. Why though? Why is the cap on DigiByte so much higher than that of Bitcoin? Because DigiByte was conceived to be used not as a digital gold, nor as any sort of commodity, but as a real currency!
Today on planet Earth, we are approximately 7.6 billion people. If each person should want or need to use and live off Bitcoin; then equally split at best each person could only own 0.00276315789 BTC. The market cap for all the money on the whole planet today is estimated to have recently passed 80 trillion dollars. That means that each whole unit of Bitcoin would be worth approximately $3,809,523.81!
$3,809,523.81
This is of course in an extreme case where everyone used Bitcoin for everything. But even in a more conservative scenario the fact remains that with such a low supply each unit of a Bitcoin would become absurdly expensive if not inaccessible to most. Imagine trying to buy anything under a dollar!
Not only would using Bitcoin as an everyday currency be a logistical nightmare but it would be nigh impossible. For each Satoshi of a Bitcoin would be worth much, much, more than what is realistically manageable.
This is where DigiByte comes in and where it shines. DigiByte aims to be used world-wide as an international currency! Not to be hoarded in the same way Bitcoin is. If we were to do some of the same calculations with DigiByte we'd find that the numbers are a lot more reasonable.
At 7.6 billion people, each person could own 2.76315789474 DGB. Each whole unit of DGB would be worth approximately $3,809.52.
$3,809.52
This is much more manageable and remember in an extreme case where everyone used DigiByte for everything! I don't expect this to happen anytime soon, but with the supply of DigiByte it would allow us to live and transact in a much more realistic and fluid fashion. Without having to divide large numbers on our phone's calculator to understand how much we owe for that cup of coffee! With DigiByte it's simple, coffee cost 1.5 DGB, the cinema 2.8 DGB, a plane ticket 500 DGB!
There is a reason for DigiByte's large supply, and it is a good one!
Decentralisation
Decentralisation is an important concept for the block-chain and cryptocurrencies in general. This allows for a system which cannot be controlled nor manipulated no matter how large the organization in play or their intentions. DigiByte’s chain remains out of the reach of even the most powerful government. This allows for people to transact freely and openly without fear of censorship.
Decentralisation on the DigiByte block-chain is assured by having an accessible and fair mining protocol in place – this is the multi-algorithm (MultiAlgo) approach. We believe that all should have access to DigiByte whether through purchase or by mining. Therefore, DigiByte is minable not only on dedicated mining hardware such as Antminers, but also through use of conventional graphics cards. The multi-algorithm approach allows for users to mine on a variety of hardware types through use of one of the 5 mining algorithms supported by DigiByte. Those being:
Please note that these mining algorithms are modified and updated from time to time to assure complete decentralisation and thus ultimate security.
The problem with using only one mining algorithm such as Bitcoin or Litecoin do is that this allows for people to continually amass mining hardware and hash power. The more hash power one has, the more one can collect more. This leads to a cycle of centralisation and the creation of mining centres. It is known that a massive portion of all hash power in Bitcoin comes from China. This kind of centralisation is a natural tendency as it is cheaper for large organisations to set up in countries with inexpensive electricity and other such advantages which may be unavailable to the average miner.
DigiByte mitigates this problem with the use of multiple algorithms. It allows for miners with many different kinds of hardware to mine the same coin on an even playing field. Mining difficulty is set relative to the mining algorithm used. This allows for those with dedicated mining rigs to mine alongside those with more modest machines – and all secure the DigiByte chain while maintaining decentralisation.
Low Fees
Low fees are maintained in DigiByte thanks to the MultiAlgo approach working in conjunction with MultiShield (originally known as DigiShield). MultiShield calls for block difficulty readjustment between every single block on the chain; currently blocks last 15 seconds. This continuous difficulty readjustment allows us to combat any bad actors which may wish to manipulate the DigiByte chain.
Manipulation may be done by a large pool or a single entity with a great amount of hash power mining blocks on the chain; thus, increasing the difficulty of the chain. In some coins such as Bitcoin or Litecoin difficulty is readjusted every 2016 blocks at approximately 10mins each and 2mins respectively. Meaning that Bitcoin’s difficulty is readjusted about every two weeks. This system can allow for large bad actors to mine a coin and then abandon it, leaving it with a difficulty level far too high for the present hash rate – and so transactions can be frozen, and the chain stopped until there is a difficulty readjustment and or enough hash power to mine the chain. In such a case users may be faced with a choice - pay exorbitant fees or have their transactions frozen. In an extreme case the whole chain could be frozen completely for extended periods of time.
DigiByte does not face this problem as its difficulty is readjusted per block every 15 seconds. This innovation was a technological breakthrough and was adopted by several other coins in the cryptocurrency environment such as Dogecoin, Z-Cash, Ubiq, Monacoin, and Bitcoin Gold.
This difficulty readjustment along with the MultiAlgo approach allows DigiByte to maintain the lowest fees of any UTXO – PoW – chain in the world. Currently fees on the DigiByte block-chain are at about 0.0001 DGB per transaction of 100 000 DGB sent. This depends on the amount sent and currently 100 000 DGB are worth around $2000.00 with the fee being less than 0.000002 cents. It would take 500 000 transactions of 100 000 DGB to equal 1 penny’s worth. This was tested on a Ledger Nano S set to the low fees setting.
Fast transaction times
Fast transactions are ensured by the conjunctive use of the two aforementioned technology protocols. The use of MultiShield and MultiAlgo allows the mining of the DigiByte chain to always be profitable and thus there is always someone mining your transactions. MultiAlgo allows there to a greater amount of hash power spread world-wide, this along with 15 second block times allows for transactions to be near instantaneous. This speed is also ensured by the use DigiSpeed. DigiSpeed is the protocol by which the DigiByte chain will decrease block timing gradually. Initially DigiByte started with 30 second block times in 2014; which today are set at 15 seconds. This decrease will allow for ever faster and ever more transactions per block.
Robust security + The Immutable Ledger
At the core of cryptocurrency security is decentralisation. As stated before decentralisation is ensured on the DigiByte block chain by use of the MultiAlgo approach. Each algorithm in the MultiAlgo approach of DigiByte is only allowed about 20% of all new blocks. This in conjunction with MultiShield allows for DigiByte to be the most secure, most reliable, and fastest UTXO block chain on the planet. This means that DigiByte is a proof of work (PoW) block-chain where all transactional activities are stored on the immutable public ledger world-wide. In DigiByte there is no need for the Lightning protocol (although we have it) nor sidechains to scale, and thus we get to keep PoW’s security.
There are many great debates as to the robustness or cleanliness of PoW. The fact remains that PoW block-chains remain the only systems in human history which have never been hacked and thus their security is maximal.
For an attacker to divert the DigiByte chain they would need to control over 93% of all the hashrate on one algorithm and 51% of the other four. And so DigiByte is immune to the infamous 51% attack to which Bitcoin and Litecoin are vulnerable.
Moreover, the DigiByte block-chain is currently spread over 200 000 plus servers, computers, phones, and other machines world-wide. The fact is that DigiByte is one of the easiest to mine coins there is – this is greatly aided by the recent release of the one click miner. This allows for ever greater decentralisation which in turn assures that there is no single point of failure and the chain is thus virtually un-attackable.
On Chain Scalability
The biggest barrier for block-chains today is scalability. Visa the credit card company can handle around 2000 transactions per second (TPS) today. This allows them to ensure customer security and transactional rates nation-wide. Bitcoin currently sits at around 7 TPS and Litecoin at 28 TPS (56 TPS with SegWit). All the technological innovations I’ve mentioned above come together to allow for DigiByte to be the fastest PoW block-chain in the world and the most scalable.
DigiByte is scalable because of DigiSpeed, the protocol through which block times are decreased and block sizes are increased. It is known that a simple increase in block size can increase the TPS of any block-chain, such is the case with Bitcoin Cash. This is however not scalable. The reason a simple increase in block size is not scalable is because it would eventually lead to some if not a great amount of centralization. This centralization occurs because larger block sizes mean that storage costs and thus hardware cost for miners increases. This increase along with full blocks – meaning many transactions occurring on the chain – will inevitably bar out the average miner after difficulty increases and mining centres consolidate.
Hardware cost, and storage costs decrease over time following Moore’s law and DigiByte adheres to it perfectly. DigiSpeed calls for the increase in block sizes and decrease in block timing every two years by a factor of two. This means that originally DigiByte’s block sizes were 1 MB at 30 seconds each at inception in 2014. In 2016 DigiByte increased block size by two and decreased block timing by the same factor. Perfectly following Moore’s law. Moore’s law dictates that in general hardware increases in power by a factor of two while halving in cost every year.
This would allow for DigiByte to scale at a steady rate and for people to adopt new hardware at an equally steady rate and reasonable expense. Thus so, the average miner can continue to mine DigiByte on his algorithm of choice with entry level hardware.
DigiByte was one of the first block chains to adopt segregated witness (SegWit in 2017) a protocol whereby a part of transactional data is removed and stored elsewhere to decrease transaction data weight and thus increase scalability and speed. This allows us to fit more transactions per block which does not increase in size!
DigiByte currently sits at 560 TPS and could scale to over 280 000 TPS by 2035. This dwarfs any of the TPS capacities; even projected/possible capacities of some coins and even private companies. In essence DigiByte could scale worldwide today and still be reliable and robust. DigiByte could even handle the cumulative transactions of all the top 50 coins in coinmarketcap.com and still run smoothly and below capacity. In fact, to max out DigiByte’s actual maximum capacity (today at 560 TPS) you would have to take all these transactions and multiply them by a factor of 10!
Oher Uses for DigiByte
Note that DigiByte is not only to be used as a currency. Its immense robustness, security and scalability make it ideal for building decentralised applications (DAPPS) which it can host. DigiByte can in fact host DAPPS and even centralised versions which rely on the chain which are known as Digi-Apps. This application layer is also accompanied by a smart contract layer.
Thus, DigiByte could host several Crypto Kitties games and more without freezing out or increasing transaction costs for the end user.
Currently there are various DAPPS being built on the DigiByte block-chain, these are done independently of the DigiByte core team. These companies are simply using the DigiByte block-chain as a utility much in the same way one uses a road to get to work. One such example is Loly – a Tinderesque consensual dating application.
DigiByte also hosts a variety of other platform projects such as the following:
The DigiByte Foundation
As previously mentioned DigiByte was not an ICO. The DigiByte foundation was established in 2017 by founder Jared Tate. Its purpose is as a non-profit organization dedicated to supporting and developing the DigiByte block-chain.
DigiByte is a community effort and a community coin, to be treated as a public resource as water or air. Know that anyone can work on DigiByte, anyone can create, and do as they wish. It is a permissionless system which encourages innovation and creation. If you have an idea and or would like to get help on your project do not hesitate to contact the DigiByte foundation either through the official website and or the telegram developer’s channel.
For this reason, it is ever more important to note that the DigiByte foundation cannot exist without public support. And so, this is the reason I encourage all to donate to the foundation. All funds are used for the maintenance of DigiByte servers, marketing, and DigiByte development.
DigiByte Resources and Websites
DigiByte
Wallets
Explorers
Please refer to the sidebar of this sub-reddit for more resources and information.
Edit - Removed Jaxx wallet.
Edit - A new section was added to the article: Why so many coins? 21 Billion
Edit - Adjusted max capacity of DGB's TPS - Note it's actually larger than I initially calculated.
Edit – Grammar and format readjustment
Hello,
I hope you’ve enjoyed my article, I originally wrote this for the reddit sub-wiki where it generally will most likely, probably not, get a lot of attention. So instead I've decided to make this sort of an introductory post, an open letter, to any newcomers to DGB or for those whom are just curious.
I tried to cover every aspect of DGB, but of course I may have forgotten something! Please leave a comment down below and tell me why you're in DGB? What convinced you? Me it's the decentralised PoW that really convinced me. Plus, just that transaction speed and virtually no fees! Made my mouth water!
-Dereck de Mézquita
I'm a student typing this stuff on my free time, help me pay my debts? Thank you!
D64fAFQvJMhrBUNYpqUKQjqKrMLu76j24g
https://digiexplorer.info/address/D64fAFQvJMhrBUNYpqUKQjqKrMLu76j24g
submitted by xeno_biologist to Digibyte [link] [comments]

Do Asic mining rigs like antminer s1 or neptune for $10 000 really pay off?

I tried using profit calculators but I cannot correctly identify the diminishing returns. Thoughts?
submitted by asksci to BitcoinMining [link] [comments]

[FULOOSCOIN] Welcome to our Community and everything you need to know in a few minutes.

What is Fuloos Coin and why should we use it?

Fuloos Coin is an open-source digital currency, allowing merchants and users across the globe to send transactions fast and with low fees. We officially released Fuloos Coin on December 1st, 2017.
We are the next digital currency that uses the Scrypt Algorithm to allow users to transact their funds fast and with low fees across the world without delays with the ability to stake your coins to earn interest on your funds.
Fuloos Coin has grown a lot since we started in 2017, reaching other 20,000+ members supporting the community and the development team for the future of the Fuloos making us the most affordable cryptocurrencie for merchants and users around the world making it easier to pay for services, friends or employees with almost instant transactions.
Our main infrastructure is backed by multiple dedicated nodes to insure our network never goes down and allowing users to use Fuloos Coin any time of the day providing a secure and reliable environment for merchants with no downtime what's so ever.

Where can I buy Fuloos Coins?

Here's a list of the current exchange platforms that allow you to trade FLS with different cryptocurrencies:
We are hoping to be listed on many more exchanges over the coming weeks to improve the accessibility of purchasing coins and daily trading for Fuloos.
Any other questions regarding this? Please, contact one of the team members in one of the social chats we provide.

What is staking?

Staking also known as Proof-of-Stake or POS, is the ability for Fuloos Coin holders to earn interest on their funds with our inbuilt stake-miner into our desktop wallets which allows our network to run smoothly with our community support by validating transactions or by mining blocks just by keeping your wallet open.
For example, if I had 1000 Fuloos Coin's and if the transaction's dates have been longer than seven days, I could potentially earn 0.85 Fuloos Coin's every 10 minutes.
Technical Specifications:
If you would like to know more information about staking your funds, you can use our own calculator to find out how much you can earn.
Proof-of-Stake Calculator

Where can I store my coins?

There are several options on places to store your coins, starting from the exchange platforms which have inner wallets like Stocks.Exchange. However, the most secure way to store your coins is to keep it in outside wallets. Here’s a list of wallet options to store your coins:
Choose the best option that is suitable for you and don’t feel shy to ask us for help when setting up your wallet. Please, understand that your wallet is a source where you store your funds. Take it seriously, use all the available protection methods (backups, 2FA, complicated passwords).

Are there any local communities presented in my native language?

Definitely, Fuloos Coin is a cryptocurrencie with supporters all over the world. Be the first one to hear news in your native language and meet other users in our community!
You can see our community managers via our official team page on our website and also can ask questions in our chats to speak one of the community managers directly, if you have any suggestions for the Fuloos Team or your local community.

Can I use Fuloos Coin as a payment method? Is it possible to spend the coins in a store, shop, hotel, etc.?

Of course, you can purchase items or buy goods/services using Fuloos. We are currently working on our new merchant platform which will allow online store owners to accept Fuloos easily using a created plugin by our development team.
Popular E-commerce Platforms will be supported:
If you are a developer and would like to help create service or integrate Fuloos into your own website, you can use the created PHP Class created by LiteSpeed to make it easier to install and use, there will also be a c++ version released soon for programs integration.
https://github.com/LiteSpeedDev/FuloosRPC/

Social Links & Community Chats.

Following our social media and joining our community chats will allow you to keep up to date with the Fuloos Development and News relating to Fuloos Partners and Announcements.
The Fuloos team is glad to welcome every new user into our community. Join our family to be a part of one of the most prospective cryptocurrencies and enjoy it!
Yours truly,
LiteSpeed, CryptoKnight & the Fuloos Team.
submitted by Fuloos to Fuloos [link] [comments]

Start Here for Much Wallet WOW!

EDIT 2017-02-10: A word about Nodes

There is a discussion about nodes that came up today, where it seems I'm discouraging people from running the full QT/Core client. Yes and No. What I'm trying to make sure people understand is how things work, and that it is NOT mandatory to run a client in order to use Dogecoins (and yes, I realise that browser-based tools like coinb.in and wallet sweepers are 'clients' by strict definition).
That said, more nodes is absolutely a good thing for the network. Preferrably full nodes. How do you run a full node? Just run Core/QT and open up Port 22556 on your router so it can connect to more than 8 peers. What will it cost you? You need your machine to be on 24/7/365, you need enough storage for the full blockchain (currently about 20Gb. Bitcoin is over 120Gb) and enough bandwidth to keep it in sync and share blocks with peers. A couple of Gb a month, most likely. This is best done with a desktop on a wired broadband link. Or maybe a hosted VM in the cloud. :)

EDIT 2017-01-09: Wallets WITHOUT Clients

Since I started helping people on /BitcoinBeginners, I'm getting a lot of questions about how to use wallets without running clients or trusting third parties. So here are a couple of resources that will make that possible, and not just for Dogecoin:
Multi-Coin Wallet Generator Now supporting 129 currencies! Coinb.in Start by setting the currency, found in the gear wheel in the Broadcast tab. Dogecoin Wallet Sweeper Redeem 'paper' wallets containing up to about 100 UTXOs. Bitinfo Charts My favourite block explorer, handles a bunch of cryptos.
Using these resources, it is possible to hold, receive and spend coins in various currencies, without having to run QT or a 'lite' client. You can also download and run the pages on your own device.

EDIT 2016-11-23: SEMANTICS about MINING! :P

Even though there is already a section on mining below, it has been suggested given the huge number of posts on the subject that this needs to be made clearer. Since people get their panties in a twist over the word 'dead', lets change that...

MINING IS DEAD!

MINING DOGECOIN IS UNPROFITABLE!

Put simply, there is no way to mine Dogecoin and make a profit because of the massive hashpower provided by industrial-scale Litecoin miners. Mining Doge directly stopped being viable when our hashrate exploded with the introduction of AuxPoW. Mining with CPU's and GPU's died when ASICs were introduced. And mining with a laptop WILL kill your laptop and cost you a fortune to repair or replace. Mining Litecoin with an exchange that also mines Doge and others will earn less than the electricity consumed, and you won't recover your costs. Probably ever, but certainly not in any reasonable time.
Mining other currencies may be a thing, but that's beyond our scope here. This is /Dogecoin, not /GetRichMiningCryptos after all. If you want to mine the newest scamcoin for fun and profit, look elsewhere for advice. :/
Oh, and most important:

READ BEFORE YOU POST!

At any given time, there are half a dozen posts on the frontpage just like the one you're about to write, where the answers have already been given. Read them. Don't make people waste their time repeating themselves because you were too lazy to bother reading stuff. :P
So there I was, having a quiet Sundy arvo bludge, as you do, when 42points turned up on Facebook and asked me to write a new sticky post for /dogecoin. Why would he do this, when he should be having a bludge himself, I hear you ask? Well, seems he was doing exactly that, and wanted to fob off the work he’s too slack to do himself. ;) Ah well, being a sucker for punishment, I’ll grudgingly oblige I guess.
OK, first things first.

The Clients:

Dogecoin Core 1.10.0 2015-Nov-01
Bootstrap file for Core to save some download time.
Dogecoin Core Guide Wiki
MultiDoge v0.1.7 2016-Jan-31
Android Dogecoin Wallet 2.0.8 2016-Jan-18
Android Coinomi Wallet
Java Cate 0.14 alpha 2 Multicoin wallet 2016-Feb-14
Exodus multicoin wallet
iOS Doughwallet

Do you REALLY need a client?

Wallet ELI5
UTXO ELI5
Paper Wallet Generator
Sample HTML Wallet List
Dogetipbot subreddit and website
Dogechain Wallet
Block.io Wallet
Exchanges
BTC38
Poloniex
CoinSpot
ShapeShift - Not really an exchange, rather a currency trader.

Mining

Litecoinpool
Prohashing
Zpool

Explorers

BitInfoCharts - My favourite, has charts!
chain.so
dogechain.info
/dogecoindev where the devs hang out

More Info

Dogeducation
Technical Wiki
Preev currency value calculator

EDITS:

From peoplma
I was wondering if you could add just a couple things. A link to the coinomi android wallet, it's probably the best one out there. And a sentence somewhere along the lines of "if you need help with any dogecoin software you are welcome to make a post, but PLEASE include your OS, version number of the client, and any relevant transaction IDs that you are willing to share" if you can fit that in somewhere.
Also, if you want to link to Prohashing, I'm pretty sure it's the only Scrypt mining pool that will actually pay out in doge. The others I know of pay out in litecoin or bitcoin. And it's a profit switching multipool, so gives a better return than just mining ltc/doge.
And there's these two wiki articles I thought would be helpful to link /dogecoin/wiki/technical for those technically minded newbies or intermediate users who want to dig a little deeper. And maybe a link to /dogecoin/wiki/dogecoincoreguide next to the link for dogecoin core.
From pts2002
Finally a proper sticky post! Here's some other stuff you could add:
zpool.ca mining pool - You can get paid in pretty much any coin, and you can mine in multiple algos (currently mining lyra2v2 with my GPU). Doing about 500Ð/day
shapeshift.io exchange - My favourite exchange, quick and easy. No registration required!
Also, you should add some blockchain explorers!
chain.so - Support for bitcoin, litecoin and doge.
dogechain.info - Official blockchain explorer. Includes a wallet (already mentioned). Live update currently not working (?)
EDIT: Here's another thing I found!
preev.com currency value calculator - Easy way to check the value of your dogecoins (or bitcoins, or litecoins, or peercoins)!
submitted by Fulvio55 to dogecoin [link] [comments]

[Daily Discussion] Wednesday, June 03, 2015

Welcome to the /BitcoinMarkets daily discussion thread!
Thread topics include, but are not limited to:
Thread Guidelines
Other ways to interact
submitted by AutoModerator to BitcoinMarkets [link] [comments]

I'm new to mining. How long will I take to break even?

With 2x 7970 & 1x 280x on my rig, how long will I take to make US$1500 (or 2 Bitcoin) worth by mining scrypt altcoins, and mining what coin?
I heard of Coinwarz but still can't figure out how to calculate my profitability.
Help!
Any rough estimation will be good to get me started. Thanks!
submitted by bakedric3 to BitcoinMining [link] [comments]

What is dev team going do about Dogecoin's dangerously low hashrate?

First of all, let me apologize in advance if anything I say offends people or if I am not very nice. I am stating my opinions and don't like to sugar coat things. So it might be a bit jarring when compared to typical shibes you see around here. :)
The last time I talked to the Dogecoin dev team, they were still trying to figure out what they wanted to do. And Jackson said that he would wait for 2 more halvings before considering merged mining. Well it's been 2 halvings, and the Dogecoin hashrate has behaved pretty much as I expected: LTC/DOGE hashrate comparison
When I did my merged mining AMA, the dogecoin hashrate was about 1/2 of litecoin's hashrate. Today, the hashrate is 1/15 of litecoin's. Pretty much all the ASIC hashrate went to Litecoin, which I warned would happen. The Dogecoin's network security is in danger of being attacked. The top 3 Litecoin pools can easily pull off a 51% attack on the Dogecoin network. In a few weeks, the top 6 Litecoin pools can easily do it.
A Scrypt ASIC farm can decide that it wants to have some fun. The Dogecoin network hashrate is about 45 ghash/s. So as an example, a 50 ghash/s farm can easily 51% it. Here's the earning ability of 50 ghash/s: litecoin mining calculator. It makes about $20500 per day. Let's say it takes about 30 minutes to pull off this attack... that's 30 Dogecoin confirmations. The attacker loses about $430 if he stops mining Litecoin for an hour. They could try to attack one of the top Dogecoin exchanges and try to steal 0.7 bitcoins to make it worth their time. Or they can double spend a lifetime subscription to Hustler.com, which is worth about $500. Or maybe they just don't like Dogecoin. And it only costs them $430! Dogecoin's network security is worth only $430.
So what can you do? Honestly, I'm not sure merged mining is a viable option anymore, as it is becoming less and less viable with each passing day. Merged mining was the best option in April, when I first proposed it. At that time, if merged mining was implemented, almost every single Litecoin and Dogecoin pool will switch to do merged mining right away, because adding merged mining of Dogecoin would increase their mining output by 50%! Today, adding merged mining will only increase earnings by 6%. It's hard to say how many pools will switch. Some might think it's not worth their time. So it would take a big PR push to make this work.
You're now left with a hard choice:
I think the dev team needs to do something soon.
submitted by coblee to dogecoin [link] [comments]

Why the price of DOGE is falling and will continue to. SUCH MAFFS. SO LOGIC. WOW.

TLDR; Dogecoin is one of the most profitable coins to mine, so people are mining and dumping for profit. Will probably still drop by ~10-25%. Woof. http://i.imgur.com/NRVOtRI.jpg
A lot of people are posting about the price of Dogecoin and are concerned with its price. There is speculation that is misleading and not backed up by much theory. It’s not just as simple as supply and demand, panic selling or the line of best fit on a graph. Let’s look at the maths and see why the coin is dropping so rapidly and why now.
MAFFS
The difficulty of mining a block of DOGE currently ranged from 300-400 [1], the higher this goes the less coin you will mine. To make things simple let’s run an example: Assume you have 1000kHash of digging power; with that you could mine at the current difficulty level approx. 30,000 DOGE a day [2]! The value of Dogecoin is tightly tied to Bitcoin, we first convert it to BTC and sell that. The price for a single DOGE is roughly 0.00000040 BTC [3] and a BTC is worth around $850 [4]. In our 24 hours of work we earn $10.20 (0.00000040 * 30000 * 850). Wow. Such pawfit.
Now compare this to the ‘standard’ of scrypt mining, Litecoin. For the same time and strength of your digging you would yield around $8.50. If you were only interested in profit you would mine DOGE and sell it because it made you the most profit for your hashrate. A lot of people are doing this, including multicoin pools, they mine the most profitable coin and convert it to BTC. It’s simply efficient. This means that there is a huge dump of coin on the market and the price will fall.
SPECULATION
When will the coin stop dropping in price? When it is no longer the most profitable coin, so probably around 0.00000030 to 0.00000035 BTC. At this price the profitability is too low to reward these types of miners. Alternatively, if the difficulty was to increase then the amount of coins earned (EDIT: coins per person, overall supply per time is constant! More miners = lower split per miner) would be reduced and the profit margins would also decrease, I’d estimate the difficulty would need to be around 450 to 500 to balance out. The difficulty increases if more people mine the coin, and at this point that will be depending on popularity.
Sure a few people are panic selling but comparatively this is a drop in the ocean and even so it will just help the coin reach its stable price a little faster. Anybody who wants to see the coin succeed is already doing what they need to, they are not concerned with the price, remember to have fun!
Another point to note is that over the last few days the price of BTC has risen, and so even if the price of DOGE was stable the exchange ratio for DOGE->BTC would still show a fall – this is slightly misleading and the fall in price is not as hard as it seems!
So what can you do? Wait. The price will level out and over time the difficulty should increase with popularity and in around 1-2 months the reward will halve, I'd expect a big peak in price around that time. The coin is young and popular; it needs to learn the Earth before it can go to the Moon.
Sources: [1]http://www.cryptocoincharts.info/v2/coins/show/doge [2] http://www.coinwarz.com/calculators/dogecoin-mining-calculator [3]https://www.cryptsy.com/markets/view/132 [4]http://bitcoinity.org/markets/mtgox/USD 
submitted by Piedo_Bear to dogecoin [link] [comments]

I know nothing about mining, I have access to dirt cheap electricity. How do I get started?

Basically the title. I'm willing to read and learn. I'm giving myself a month to figure this out.
submitted by MagnaCumLoudly to BitcoinMining [link] [comments]

How to Get The Most Profitable Cryptocurrencies to Mine and More in Google Sheets

Original Medium post found here: https://medium.com/spreadstreet/how-to-get-the-most-profitable-cryptocurrencies-to-mine-and-more-in-google-sheets-7b2ad2ebbdcd
One of the most challenging aspects of cryptocurrency mining is finding the most profitable coins to mine.
A few services exist, but nothing beats what the creators of WhatToMine.com have done in a few short months.
The big benefit of the data offered by WhatToMine is a ranking of cryptocurrencies by mining profitability.
The =SS() function, available in Google Sheets as part of the Spreadstreet Google Sheets Add-in, allows the user to pull in two seperate endpoints from the WhatToMine API:
  1. Stats — Used to compare the profitability of all GPU based cryptocurrencies
  2. ASIC — Used to compare the profitability of all ASIC coins

How to install

1. Go to the “Add-ons” menu, and click on “Get add-ons”.

Get Add-ons Menu

2. On the Add-ons panel, search for “Spreadstreet”, click on “+ FREE” to install it.

Click on +Free to install

3. Choose under which account you want to install the Add-on.

Choose Gmail Account

4. Spreadstreet needs to connect to an external API, click on “Allow”.

Click "Allow" when prompted
Note on security: All add-ins within the store go through a review. This is a wonderful security measure, especially in the Crypto industry, which is rife with scams and hacks.

5. Make sure the add-on is activated in your sheet:

  1. Go to Add-on > Spreadstreet > Help
  2. Click on View in store , then click on Manage and check Use in this document:
Click "Use in this document"
Tadaa You are now able to use the =SS() function to pull in all sorts of amazing data within the cryptocurrency space.
Example =SS() usage

How to use for GPU-Mineable Coins

How does WhatToMine calculate profitability for GPU-mineable cryptocurrencies?
What is the calculation missing?
Get most profitable GPU coins
Call the function =SS(“get-stats-whattomine”, true) to return various stats from GPU-minable cryptocurrencies.
Example usage using the GUI:
Open the Add-in

Click “Add” to view the list of available APIs

Click on the “WhatToMine” icon

Click “Stats”

Click “Insert”

Click “Run”. This will paste values into the currently selected Cell, and save that in the main GUI for future retrieval

Example usage using the =SS() Formula:

=QUERY(A:W,”select A, T where T is not null order by T desc”) returns the most profitable GPU-minable cryptocurrencies.

How to use for ASIC-Mineable Coins

How does WhatToMine calculate profitability for ASIC-mineable cryptocurrencies?
What is the calculation missing?
Get most profitable ASIC coins
Call the function =SS(“get-asic-whattomine”, true) to return various stats from ASIC-minable cryptocurrencies.
Example usage:

=QUERY(A:W,”select A, T where T is not null order by T desc”) returns the most profitable GPU-minable cryptocurrencies.

Common issues and how to fix:

  1. Do not keep your sheet open at all time. This will prevent the rates from refreshing. The rates will auto-refresh each time you re-open your sheet.
  2. The add-on may not work right away on other old spreadsheets. You need to do this to activate Spreadstreet: Open the old sheet, click the menu Add-ons / Spreadstreet / Help / View in store, and then click Manage and in the dropdown menu click Use in this document .

RESOURCES

Download the add-in: https://spreadstreet.io/tools/google-sheets-add-in
Help: https://spreadstreet.io/docs
First time install and login: https://www.youtube.com/watch?v=aLjtPR4T2bg
WhatToMine Stats endpoint help: https://spreadstreet.io/knowledge-base/whattomine-api-get-stats-endpoint/

RELATED POSTS

Is Genesis Mining Worth it? A Genesis Mining Profitability Calculator You’ll Actually Use
How to Create an Ethereum Mining Calculator from Start to Finish
10 Statistical Price Predictions for 10 Cryptocurrencies
Bitcoin Madness: How to Simulate Bitcoin Prices in Google Sheets
submitted by 1kexperimentdotcom to gpumining [link] [comments]

All You Need to Know About Verge / Beginner's Guide

All You Need to Know About Verge / Beginner's Guide
A short Background
2008 was the worst financial crisis the world had experience since the great depression. The efforts of banks worldwide were not enough to prevent its occurrence. Shortly after, someone by the name of Satoshi Nakamoto offered an alternative solution. A digital currency that removes the need for a central bank. His proposal written in the Bitcoin white paper, is summarized below:
  • A secure, decentralized network.
  • A system with economic properties.
  • No need for banks or rule makers.
  • Instant transactions without a need of a third party or government approval.
  • Bringing financial services to the unbanked 2.5 billion people.
  • Total financial freedom. No one can freeze your accounts.
  • Low transaction costs. No ridiculously high transaction fees.
  • A currency with finite amount where no one can print money whenever they want.
Bitcoin
In 2009, when Satoshi Nakamoto launched Bitcoin, the network consisted of computers (in crypto terms, these are called Nodes) to approve transactions, movements of data along the chain. This allows for everyone willing to become a participant, creating a decentralized global network. Allowing for a decentralized currency, free of the control of politicians, or institutions.
The rules can only be changed if 51% of the network agrees on it. This way the network is completely democratized and resistant to hacking attacks.
Unlike today’s financial institutions, no one can freeze your account or prevent you sending money. You are the only person who truly holds your wealth.
It is an open source project. Anyone can see the code and offer or discuss changes with the community. On the other hand, anyone participating to the network with computational power gets incentives or pay, with a fractional amount of BTC.
Blockchain
The core of a secure decentralized network like Bitcoin, lies the Blockchain technology. To put it simply, the blockchain is like a series of Lego, connected to each other by linking information, called transactions. These transactions contain the following data sender, receiver and the unique signature of the sender.
The data will be converted into “hash” before being saved into a block. The bitcoin hash is generated using a set of cryptographic functions called sha256. This way the information is encrypted, is compressed and saved in the block.
Additionally, each block in the chain, contains the information from the block before it. This ensures that if someone tries to maliciously modify information in a block, all the block following this attempt will be changed, making it easier to spot.
Each block includes the information from the previous block. If someone wants to maliciously change the information in one block that change the complete result of all following blocks.
In this type of network there is only one blockchain, and all the information is kept in a public ledger which is shared amongst all the participating networks. For the blockchain to be valid, more than 50% of the participants (nodes and their computational power) must agree with it.
Bitcoin Today (2018)
Until today many, many, events have happened. The network has grown massively. The underlying code is improved in many ways. There are more and more developers and investors that have entered the cryptocurrency space.
Currently there are proposed changes being developed to the Bitcoin network that will make bitcoin rival the centralized networks of today (Visa, Mastercard), while significantly lowering the cost of these transaction.
Many alternative cryptocurrencies have been created along the way, improving some of the aspects of the bitcoin and focusing on curtain applications, in the crypto-space, we call them altcoins.
WHY VERGE
The way that Bitcoin function, has severe flaws with regards to privacy:
  • Public Ledger: The transaction information is public, meaning, that transactions can be linked to a person.
  • IP Leakage: A persistent and motivated attacker will be able to associate your IP address with your bitcoin transaction.
Due to the above reasons, it was clear that there would be a need for a privacy coin. Different coins were then created that had this problem in mind. They were ‘too private’ in the sense that they completely by-passed the public ledger. The public ledger allows merchant to provide proof of transactions, which is important for bookkeeping.
Enter Verge Currency, formerly Dogecoindark; which offers transaction on the ledger, both public and private. Allowing the user to choose if the transactions are public or private.
VERGE CURRENCY
2014 saw the birth of Dogecoin Dark; in 2016, it was rebranded to Verge Currency.
Verge improves upon the original Bitcoin blockchain and aims to fulfill its initial purpose of providing individuals and businesses with a fast, efficient and decentralized way of making direct transactions while maintaining your privacy.
What is the Verge Currency Mission?
Verge Currency aims to empower people around the globe using blockchain in everyday life and makes it possible for people to engage in transactions quickly, efficiently and privately. With Verge, business and individuals now have flexible options for sending and receiving payments.
Verge Currency also offer helpful integrations and tools that enable them to handle large scale transactions between merchants and small-scale private payments.
Is Verge Currency a private company and how is it funded?
Following in the spirit of Bitcoin, Verge is an open-source software, and a community. It is not a company, never had an ICO. The development is entirely funded by the community and the developers. Currently Verge is looking into setting up an official Verge merchandise store, and an Official Verge mining pool, for multiple algorithms.
Tech
General technical capabilities of XVG blockchain:
Protocol PoW (Proof of Work)
Algorithms Scrypt, X17, Lyra2rev2, myr-groestl and blake2s
Max Coin Supply 16.5 billion XVG
Circulation Supply 15.2 billion XVG
Minable yes
Atomic Swaps Enabled
Tx Speed 5-10 Seconds
Tx Capacity 100. (Will be ~2000 with RSK)
Tx Fee 0.1 XVG
Privacy Options:
Tor + I2P Networks fully obfuscated IP address / User's Location is hidden
Wraith Protocol Private and Public transactions in one blockchain according to user's choice. Hides the sender and the receiver information.
RING CT Under Development
See our blackpaper for detailed information.
Wallets
Mining
Community
Verge is a community-driven project. The community is the pillar of Verge, from the past to the future, the community built Verge. The community or Vergefam connects everyone from around the world, regardless of cultural background. The common vision is to provide everyone access to financial freedom, and the choice of privacy while transacting.
Below you can find the Verge Telegram communities from around the world;
Official Telegram
🇧🇷 🇵🇹 Brasil/Portugal/
🇳🇴 🇸🇪 🇩🇰 Norway/Sweden/Denmark
🇩🇪 🇦🇹 🇨🇭 🇱🇮 Germany/Austria/Switzerland/Liechtenstein
🇵🇹 Portugal
🇪🇸 Spain
🇱🇺 Netherlands
🇹🇷 Turkey
🇫🇷 France
Balkan
🇵🇾 Croatia
🇦🇱 🇽🇰 Albania/Kosovo
🇷🇴 Romania
🇭🇺 Hungary
🇷🇺 Russia
🇮🇳 India
🇲🇾 Malaysia
🇯🇵 Japan
🇰🇷 Korea
🇨🇳 China
🇿🇦 South Africa
🔌Wallet Support
🖥️ Mining support
Mass Adoption
Low fees, quick transactions, high volume in circulation, multiplatform support, Wraith protocol are the ingredients that make Verge perfectly positioned for mass adoption. Transact on the public ledger for everyday purchases or stay private if you wish so.
Getting Started
You can find the matching instructions as below:
See the following useful links:
Official Links
Vergecurrency.com
Verge Team
Roadmap
FAQ
Github
Block Explorer 1
Block Explorer 2
Network Status
Telegram
Twitter
Facebook
Discord
Youtube
Medium
Investfeed
Verge Zendesk
VergeFora
submitted by Desolatorbtc to HowtoCrypto [link] [comments]

howmanyconfs.com - How does the security of different Proof-of-Work blockchains compare to Bitcoin?

https://howmanyconfs.com
Original post in Bitcoin here: https://np.reddit.com/Bitcoin/comments/biokgy/howmanyconfscom_how_does_the_security_of/

https://github.com/lukechilds/howmanyconfs.com/raw/mastescreenshot.png

How are these values calculated?

It's easy to compare blockchain hashrates when the Proof-of-Work algorithm is the same. For example if Bitcoin has a hashrate of SHA-256 @ 40 PH/s and Bitcoin Cash has a hashrate of SHA-256 @ 2 PH/s, it's easy to see that for a given period of time the Bitcoin blockchain will have 20x (40/2) the amount of work securing it than the Bitcoin Cash blockchain. Or to say that differently, you need to wait for 20x more Bitcoin Cash confirmations before an equivalent amount of work has been done compared to the Bitcoin blockchain. So 6 Bitcoin confirmations would be roughly equivalent to 120 Bitcoin Cash confirmations in the amount of work done.
However if the Proof-of-Work algorithms are different, how can we compare the hashrate? If we're comparing Bitcoin (SHA-256 @ 40 PH/s) against Litecoin (Scrypt @ 300 TH/s), the hashes aren't equal, one round of SHA-256 is not equivalent to one round of Scrypt.
What we really want to know is how much energy is being consumed to provide the current hash rate. Literal energy, as in joules or kilowatt hours. It would be great if we had a universal metric across blockchains like kWh/s to measure immutability.
However that's fairly hard to calculate, we need to know the average power consumption of the average device used to mine. For GPU/CPU mined Proof-of-Work algorithms this varies greatly. For ASIC mined Proof-of-Work algorithms it varies less, however it's likely that ASIC manufacturers are mining with next generation hardware long before the public is made aware of them, which we can't account for.
There's no automated way to get this data and no reliable data source to scrape it from. We'd need to manually research all mining hardware and collate the data ourself. And as soon as newer mining hardware comes out our results will be outdated.
Is there a simpler way to get an estimated amount of work per blockchain in a single metric we can use for comparisons?
Yeah, there is, we can use NiceHash prices to estimate the cost in $ to secure a blockchain for a given timeframe. This is directly comparable across blockchains and should be directly proportionate to kWh/s, because after all, the energy needs to be paid for in $.
How can we estimate this?
Now we have an estimated total Proof-of-Work metric measured in dollars per second ($/s).
The $/s metric may not be that accurate. Miners will mark up the cost when reselling on NiceHash and we're making the assumption that NiceHash supply is infinite. You can't actually rent 100% of Bitcoin's hashpower from NiceHash, there isn't enough supply.
However that's not really an issue for this metric, we aren't trying to calculate the theoretical cost to rent an additional 100% of the hashrate, we're trying to get a figure that allows us to compare the cost of the current total hashrate accross blockchains. Even if the exact $ value we end up with is not that accurate, it should still be proportionate to kWh/s. This means it's still an accurate metric to compare the difference in work done over a given amount of time between blockchains.
So how do we compare these values between blockchains?
Once we've done the above calculations and got a $/s cost for each blockchain, we just need to factor in the average block time and calculate the total $ cost for a given number of confirmations. Then see how much time is required on the other blockchain at it's $/s value to equal the total cost.
So to calculate how many Litecoin confirmations are equivalent to 6 Bitcoin confirmations we would do:
Therefore we can say that 240 Litecoin confirmations are roughly equal to 6 Bitcoin confirmations in total amount of work done.

Notes

$/s doesn't mean what it sounds like it means.

The $/s values should not be taken as literal costs.
For example:
This is does not mean you could do a 51% attack on Bitcoin and roll back 6 blocks for a cost of $360,000. An attack like that would be much more expensive.
The $/s value is a metric to compare the amount of work at the current hashrate between blockchains. It is not the same as the cost to add hashrate to the network.
When adding hashrate to a network the cost will not scale linearly with hashrate. It will jump suddenly at certain intervals.
For example, once you've used up the available hashrate on NiceHash you need to add the costs of purchasing ASICs, then once you've bought all the ASICs in the world, you'd need to add the costs of fabricating your own chips to keep increasing hashrate.

These metrics are measuring "work done", not security.

More "work done" doesn't necessarily mean "more security".
For example take the following two blockchains:
Bitcoin Cash has a higher $/s value than Zcash so we can deduce it has more "work done" over a given timeframe than Zcash. More kWh/s are required to secure it's blockchain. However does that really mean it's safer?
Zcash is the dominant blockchain for it's Proof-of-Work algorithm (Equihash). Whereas Bitcoin Cash isn't, it uses the same algorithm as Bitcoin. In fact just 5% of Bitcoin's hashrate is equivalent to all of Bitcoin Cash's hashrate.
This means the cost of a 51% attack against Bitcoin Cash could actually be much lower than a 51% attack against Zcash, even though you need to aquire more kWh/s of work, the cost to aquire those kWh/s will likely be lower.
To attack Bitcoin Cash you don't need to acquire any hardware, you just need to convince 5% of the Bitcoin hashrate to lend their SHA-256 hashpower to you.
To attack Zcash, you would likely need to fabricate your own Equihash ASICs, as almost all the Equihash mining hardware in the world is already securing Zcash.

Accurately calculating security is much more complicated.

These metrics give a good estimated value to compare the hashrate accross different Proof-of-Work blockchains.
However to calculate if a payment can be considered "finalised" involves many more variables.
You should factor in:
If the cryptocurrency doesn't dominate the Proof-of-Work it can be attacked more cheaply.
If the market cap or trading volume is really low, an attacker may crash the price of the currency before they can successfully double spend it and make a profit. Although that's more relevant in the context of exchanges rather than individuals accepting payments.
If the value of the transaction is low enough, it may cost more to double spend than an attacker would profit from the double spend.
Ultimately, once the cost of a double spend becomes higher than an attacker can expect to profit from the double spend, that is when a payment can probably be considered "finalised".
submitted by dyslexiccoder to CryptoCurrency [link] [comments]

10 Statistical Price Predictions for 10 Cryptocurrencies — January 2018

TL;DR: I simulated a 1-year movement of 10 top cryptocurrencies using an advanced statistical method called geometric Brownian motion, which you can find below. I also created a spreadsheet to simulate prices of ~24 different cryptocurrencies, which you can download here: https://docs.google.com/spreadsheets/d/1eUIgBowJs2NyKw7kYbx5z_VeCOxsMQdNELfbngs4XnY/copy. The sheet utilizes a paid add-in, which I provide free of cost to those who are less fortunate.

THE MYSTERY OF PRICE MOVEMENT

So, you’re sitting at your computer with money to invest.
You have made some good money already in the market, but you want more.
Cryptocurrencies have reached a record $600 billion in market value after the recovery, with the inevitable $700 billion mark right around the corner.
The price movement of top currencies remains a mystery. But it doesn’t have to be.

THE PAIN OF UNCERTAINTY

Cryptocurrencies are volatile, irrational beasts.
Simple methods of forecasting grossly oveunderestimate the potential of a volatile currency.
For example, moving averages are used frequently to estimate future prices. Moving averages, however, suffer from many pitfalls that make them poor estimators of volatile markets.
Every great and successful investor has a plan. You will add one more tool to your arsenal today.

A BETTER METHOD FOR ESTIMATING CRYPTO PRICES

In my prior article about estimating the movement of Bitcoin Prices, I spoke of a method that is used frequently in the stock world to estimate prices.
This method is a Monte Carlo simulation using the geometric Brownian motion model.
I won’t cover off on the full methodology here, but essentially I am going to:
  1. Get historical daily prices for 10 top cryptocurrencies
  2. Calculate daily returns
  3. Simulate a year
  4. Simulate a year many times
By the end of the article, you will have the following:
A note on forecasting, simulations, and recommendations: Monte Carlo simulations are to be used as guidelines and tools, not as gospel. I am not offering financial or investing advice.

BITCOIN

What is Bitcoin?

You know what Bitcoin is, stop it.

One-Year Simulation

1-Year Simulation of Bitcoin Prices and Returns

One-Year Simulated 1,000 Times

1-Year Bitcoin Prices Simulated 1,000 times

Verdict

We can be 95% certain that Bitcoin prices will fall between $9,095, and $371,588 with a median of $60,837.

BITCOIN CASH

What is Bitcoin Cash?

From the Bitcoin Cash project website:
“Bitcoin Cash is peer-to-peer electronic cash for the Internet. It is fully decentralized, with no central bank and requires no trusted third parties to operate.”
Really, it was an additional currency that was created after a fork from Bitcoin core.

One-Year Simulation

1-Year Simulation of Bitcoin Cash Prices and Returns

One-Year Simulated 1,000 Times

1-Year Bitcoin Cash Prices Simulated 1,000 times

Verdict

We can be 95% certain that Bitcoin Cash prices will fall between $197, and $180,288 with a median of $4,839.

ETHEREUM

What is Ethereum?

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
Ethereum has been busy recently. Multiple steps have been pushed in motion for the upcoming large change — reaching a new consensus method.
From Jordan Daniel at ethnews.com:
Ethereum’s Byzantium hard fork was only one half of a two-part process designed to transition the decentralized application platform to a new method for reaching consensus — proof-of-stake. The next hard fork, called Constantinople, was recently discussed during an Ethereum core developer meeting and could include Vitalik Buterin’s Casper update.

One-Year Simulation

1-Year Simulation of Ethereum Prices and Returns

One-Year Simulated 1,000 Times

1-Year Ethereum Prices Simulated 1,000 times

Verdict

We can be 95% certain that Ethereum prices will fall between $193, and $8,027 with a median of $1,267.

EOS

What is EOS?

EOS is a blockchain-based, decentralized operating system, designed to support commercial-scale decentralized applications by providing all of the necessary core functionality, enabling businesses to build blockchain applications in a way similar to web-based applications.

One-Year Simulation

1-Year Simulation of EOS Prices and Returns

One-Year Simulated 1,000 Times

1-Year EOS Prices Simulated 1,000 times

Verdict

We can be 95% certain that EOS prices will fall between $0.98, and $1,386 with a median of $33.

LITECOIN

What is Litecoin?

Litecoin’s claim to fame is faster transaction processing times. It uses a scrypt-based mining proof-of-work algorithm to target the regular computers and GPUs most people already have.
The ability to target regular computers and GPU’s happens to be a huge differentiator from the crowded mining population of Bitcoin.

One-Year Simulation

1-Year Simulation of Litecoin Prices and Returns

One-Year Simulated 1,000 Times

1-Year Litecoin Prices Simulated 1,000 times

Verdict

We can be 95% certain that Litecoin prices will fall between $42, and $12,241 with a median of $745.

OMISEGO

What is OmiseGO?

OmiseGO is building a couple of things:
  1. Decentralized exchange
  2. Liquidity provider mechanism
  3. Clearinghouse messaging network
  4. Asset-backed blockchain gateway
OmiseGO is not owned by any single one party. Instead, it is an open distributed network of validators which enforce behavior of all participants.
According to Blocknight:
Also, OmiseGo counts Vitalik Buterin (Ethereum), and Joseph Poon (Lightning Network Co Author) among their advisers. Joseph Poon is actually billed as author of the OmiseGo whitepaper.
Those are some pretty big names.

One-Year Simulation

1-Year Simulation of OmiseGO Prices and Returns

One-Year Simulated 1,000 Times

1-Year OmiseGO Prices Simulated 1,000 times

Verdict

We can be 95% certain that OmiseGO prices will fall between $0.62, and $185.35 with a median of $8.56.

NEO

What is NEO?

NEO (formerly known as AntShares) is a smart asset platform and the first open source public blockchain project in China. Smart assets are the combination of smart blockchain contracts and digital assets.

One-Year Simulation

1-Year Simulation of NEO Prices and Returns

One-Year Simulated 1,000 Times

1-Year NEO Prices Simulated 1,000 times

Verdict

We can be 95% certain that NEO prices will fall between $3, and $3,076 with a median of $115.

RIPPLE

What is Ripple?

Ripple is a system created for banks to enable immediate payments and lower costs.
The vision of the Ripple creators is to allow a bank transfer in a few seconds (instead of the horribly annoying 2–3 business days).
Of note, is that Ripple is a U.S. based company. From the xrphodor blog:
Ripple is a US-based company.
Why is this an important point to consider? A US-based company like Ripple is subject to some very stringent laws regarding securities trading and money transmission. These include requirements that define how Ripple might interact with crypto markets and both institutional and retail crypto traders.

One-Year Simulation

1-Year Simulation of Ripple Prices and Returns

One-Year Simulated 1,000 Times

1-Year Ripple Prices Simulated 1,000 times

Verdict

We can be 95% certain that Ripple prices will fall between $0.05, and $163 with a median of $2.71.

MONERO

What is Monero?

Monero attempts to solve privacy and fungibility issues that persist in Bitcoin.
Part of the algorithm for Monero automatically mixes transactions with previous transactions and does this by implementing ring signatures.

One-Year Simulation

1-Year Simulation of Monero Prices and Returns

One-Year Simulated 1,000 Times

1-Year Monero Prices Simulated 1,000 times

Verdict

We can be 95% certain that Monero prices will fall between $68, and $8,142 with a median of $760.

Zcash

What is Zcash?

From the Blockchainhub infographic:
Zcash is a permissionless cryptocurrency that can fully protect the privacy of transactions using zero-knowledge cryptography.

One-Year Simulation

1-Year Simulation of ZCash Prices and Returns

One-Year Simulated 1,000 Times

1-Year ZCash Prices Simulated 1,000 times

Verdict

We can be 95% certain that Zcash prices will fall between $54, and $6,259 with a median of $549.

YOUR VERY OWN FORECASTING TOOL

Since i’m so nice, I went ahead and created a forecasting tool for you to use:
https://docs.google.com/spreadsheets/d/1eUIgBowJs2NyKw7kYbx5z_VeCOxsMQdNELfbngs4XnY/copy

SERVICES USED:

  1. Google Sheets
  2. Spreadstreet Google Sheets Add-in
  3. StockTwits
  4. CoinMarketCap API
Full disclosure: The google sheets add-in is a 14-day free trial, and $15 per month after. However, no one should be refused access on the basis of money (especially true for students and less fortunate). Send me a message, and I will make sure you are not left in the dark.

A NOTE ON SECURITY

Users have expressed hesitation about running a google sheets add-in on their main computer, so I will attempt to ease those concerns:

WHAT IT PULLS:

GETTING THE SPREADSHEET TO WORK FOR YOU

Install the Spreadstreet add-in for Google Sheets
Get sheet ready for use with the add-in
After logging into the add-in, change the dropdown reference

TROUBLESHOOTING

  1. Important Open the template, click the menu Add-ons / Spreadstreet / Help / View in store, and then click Manage and in the dropdown menu click “Use in this document.”
  2. A reload of the entire worksheet fixes quite a few problems.
  3. Deleting and re-pasting the formula in A1 of the “Candles” tab fixes things as well.
  4. If all else fails, drop me a message
  5. The “SELECT CURRENCY” cell in the Analysis tab (B3) refreshes the pull. Change the results for new data.
When I try and change a coin, I get a #DIV/0 error
Login to the Spreadstreet add-in, and keep the window open. Try changing the dropdown again.
I have tried logging in, activating the template with “Use in this document” and refreshed the sheet…still nothing.
Head to the “Data” tab. Delete the formula in cell A1, and repaste the following: =SS(“candles-bitfinex”, ticker, “1D”, “hist”, true, “”, “”, “”, “0”)

CONCLUSION

Whether you are investing in Bitcoin, Ethereum, or SpankCoin, it is imperative to have a plan. Most notably, a worst-case scenario.
The Monte Carlo simulation is a fantastic way to get a range of prices for a cryptocurrency. And after reading this, you can see how the final values change drastically depending on what you are looking at.
I urge you to download the sheet and try your own hand at simulating different coins. The sheet is setup to pull in every single coin from CoinMarketCap.
Cheers, and happy hunting
Original article can be found here: https://medium.com/@spreadstreet/10-statistical-price-predictions-for-10-cryptocurrencies-january-2018-3dcf04bf9d9a

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submitted by 1kexperimentdotcom to CryptoMarkets [link] [comments]

The Purpose of the SCRYPT Mining Algo for Litecoin ★ GRIDSEED ASIC DUAL LITECOIN SCRYPT MINER ★ 2017 Bitcoin and Scrypt Coin Mining Rigs Freebitcoin script Script free bitcoin 2020 100% legit Bitcoin hack Bitcoin mining software

ALLWEBSCRIPT Bitcoin Mining Script is a fully Automated, Unique Design, Unit Facility, Electric Charge, Hash Chooser, Live Profit Calculator & More Facility Comes with this script. Suitable for Bitcoin Mining, Etherium Mining, DOge Mining, Dash Mining and More Others which you want to add. Support TH, GH & MH. Accurate Litecoin mining calculator trusted by millions of cryptocurrency miners. Updated in 2020, the newest version of the Litecoin mining calculator makes it simple and easy to quickly calculate mining profitability for your Litecoin mining hardware. Litecoin mining calculator for Scrypt: Price 55.66$, 9.0774M difficulty, 240.7365 TH/s network hashrate, 12.50 LTC block reward. Litecoin mining pools list and list of best mining software. Scrypt mining calculator, pools, and coins. 518.3943 TH/s network hashrate and 39 coins. Check profitability for ASICs. An easy to use crypto-currency finance utility used to calculate a Bitcoin miner's potential profits in ETH and multiple fiat currencies. The calculator fetches price and network data from the internet and only requires the hash rate (speed of mining) from the user. A projected future profit chart is created dynamically and displayed instantly.

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The Purpose of the SCRYPT Mining Algo for Litecoin

Bitcoin and cryptocurrency mining explained with the Byzantine Generals Problem. We use it to explain the essence of cryptocurrency mining. https://www.udemy... genesis mining x11 genesis mining calculator genesis mining bitcoin genesis mining zcash genesis mining genesis mining diamond genesis mining ethereum genesis mining farm genesis mining vs gaw ... #bitcoin mining calculator 2019 #bitcoin mining difficulty 2019. Category People & Blogs; Song South of the Border (feat. Camila Cabello & Cardi B) Artist Ed Sheeran; Album No.6 Collaborations ... Charlie goes on to The Blockchainers and talks about why he chose the Scrypt mining algo as opposed to Bitcoin's SHA-256 as well as the revisionist history of ASIC resistance. You can find the ... #telegram bitcoin mining bot 2020 #best bitcoin miner 2020 #best bitcoin miner hardware 2020 #bitcoin mining cost 2020 #bitcoin mining calculator 2020 #bitcoin mining difficulty 2020. Category ...

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