Bitcoin Mining - How Does Bitcoin Mining Work? Best ...
How Does Bitcoin Mining Work? Koinal
Is Bitcoin Mining Worth It In 2020? - OTCPM24
Ultimate glossary of crypto currency terms, acronyms and abbreviations
December 25th CHRISTMAS (Presents from the King)! News on Christmas: MCO, PAY, WAVES, BAY…Tech This Week: BURST, ICX, XVG, STRAT, XEM, ARDR
December 25th CHRISTMAS (Presents from the King)! News on Christmas: MCO, PAY, WAVES, BAY…Tech This Week: BURST, ICX, XVG, STRAT, XEM, ARDR Ok yesterday with a market that basically tanked I managed to pick 5 of the only green coins out of literally 1200. MCO, PAY, BURST, ICX, and STRAT were all in the green. Picking winners when everything is green is one thing, but when the market is swimming in red and you have the 4 green, it’s a good day. I appreciate all my loyal followers! For tips and strategy hours before being posted to the message boards follow on Reddit, Instagram: JaketheCryptoKing and Twitter: JbtheCryptoKing. And now on Discord: https://discord.gg/MWBTWFV (join group to reach me directly and see posts early!) Remember in trading minutes matter, hours are eternities. Let's get to it, Merry Christmas All! News For Christmas: MCO has promised a Christmas bonus. Their twitter is swimming with hints about a KRISTMAS (spelled incorrectly? Bonus!). According to MCO, "We have something special planned for all of you for December 25th and we think you will love it." Their new cards are supposed to be released by January 1, maybe their debit cards (allowing you to exchange crypto for FIAT instantly) are ready?! Check them out online they look GORGEOUS. I have already placed orders for 3/5 of the available ones and I’m #40,000+ I expect MCO to start rolling these cards out, there is absurd demand for them. With surprise Christmas news tomorrow and a working product this month this coin should skyrocket. If you are interested in getting a card rf downloading the ap they are gorgeous: https://get.mona.co/ivwt/tc7kbhig6I PAY tweeted earlier today about shutting down their system for a short period while they prepared for the Christmas surprise. This confirms we will have Christmas news and from the tone of the tweet, positive news! What could it be?! With many projects and partnerships on the horizon I highly doubt they would release negative news on Christmas this is a must own for tomorrow to find out what news is released! WAVES’s founder has a livestream occurring on Christmas (not sure how he picked the day) at least everyone will be home to watch it? Either way their NG activation was successful, they have a live stream with the coin founder tomorrow, and a presentation at an enormous Miami Blockchain Convention in January. This is a buy and hold. Not to mention the Binance promotion which in essence is buy and hold WAVES (you lose points if you sell) is in effect for another 3 days and they are having an airdrop and the end of the month. Nothing but positive information here. If you need a Binance account to trade WAVES please use my referral link: https://www.binance.com/?ref=15316928 BAY has hinted at a Christmas surprise for some time now. The crypto coin market is gambling mixed with stock trading. My money is on BAY not disappointing and releasing news worthy of placing it in the 20%+ range with heavy volume. Now that the “NEWS” section is complete, which is all positive news for today! Let’s begin to discussion on technology. Nothing really creates 100% gains (or more) in the Crypto Markets like technological block chain advances. This is the week’s leaders for this category… BURST is one of the most unique altcoins on the scene. I wrote about them yesterday and they are here today because on the 27th we get Dymaxion. Do you investors/followers/crytophenes know what one of the biggest problem with mining is? Electricity consumption! BURST changes that by using 400x less electricity then BTC miners. They have their Dymaxion launch this week and their mining platform should revolutionize blockchain tech. BURST uses free memory space instead of CPU, GPU, and ASIC miners using literally less than 0.025% of the electricity when compared to BTC’s mining algorithm. BTC mining uses more electricity than many small nations and BURST will provide an ability to mine at a very low cost while still having a tradable coin on exchanges. Imagine being able to use the free memory on your computer, while you sleep to earn an income, the technology is crazy. I expect this week (their release is the 27th), particularly the next 72 hours to see the biggest BURST gains to date, while leading volume on Bittrex. NXT (will be in each post until the airdrop, and it went from $.7 when originally recommended to $1.80ish), with the future value of airdrop priced this should trend toward $2.00 or $2.50. As I’m writing this I see it’s spiked over $1.60. That is more then 100% gains in 72 hours, I’ve been screaming to buy NXT in all of my prior posts. Two days ago it popped. The whole market trended downward yesterday. However, NXT should continue to trend toward $2.00+. I just did the math on the IGNIS airdrop, the IGNIS has increased to $4.02 in value, meaning NXT should be worth a minimum of $2.00, a penny more for every penny NXT is worth following the airdrop, price point $2.00-$3.00 depending on if IGNIS continues to appreciate. More people will become interested in “free IGNIS” tokens in the coming days. NXT and the future value of IGNIS should continue to appreciate following Christmas leading up to the airdrop. ICX was one of the few winners yesterday! Their Mainnet goes live by the end of December which means any day now there will be that 100% pop everyone dreams of. Leading up to that we should receive the hype and anticipation boost on a daily basis. I expect ICX to rally 10% daily until the Mainnet announcement is made with a 100% gain the day of going live! Having a live Mainnet is essential for a viable crypto currency. Welcome to the big leagues ICX. XVG, VERGE WRAITH PROTCOL (XVG promises this to come out by end of year, plus a very impressive ad came out 4 days ago so I doubt they miss their deadline) anonymity with the flick of a button (public and private ledges in one block chain). By the time you are reading this post it may unfortunately be too late . There is speculation Wraith may be released in the morning. XVG has promised WRAITH will be released by the end of this year, it should hit $.50-$1 range when it does, McAfee although I don’t agree w/him on much he says, states a $15 price target within 6 months of Wraith Protocol being released. I’m saying $1.00 it’s currently $.25 that’s a 400% upswing if I’m right, 4000% if McAfee is. Does it matter really who is correct at that point? Wraith allows the individual user to determine if they want their balance visible on the block chain or not. Right now we have coins like Monero which are completely anonymous hence their use on the dark web, or ones that are completely public where anyone who knows your wallet address can check your balance. Verge lets each user determine whether to be, public or private, this will revolutionize blockchian and altcoins. If you want to see the impressive link for the Wraith ad here it is: https://youtu.be/dMrk6rozbJg An article was written today by Bitcoinist highly favorable of Verge, Wraith will make the coin value explode: http://bitcoinist.com/verge-next-bitcoin/. XEM has been quiet but should NOT go unnoticed. Have you seen yesterday's chart? I suggest you glance at it. Literally no dips, 45degree angle upward. Leading to what.... Catapult, which is version 2.0 of NEM (is to be released by the end of the year). Plus a 4 week hackathon beginning in January. There is nothing better to build awareness and test out their new Catapult network they’ll be releasing this week, then a worldwide hackathon and a new update to their NEM network. XEM will have a pop this week when Catapult goes live, followed by a 4 week awareness rally driven by a worldwide hackathon. STRAT, is going to have an amazing week. It was one of the only positive performers on a day the market looked like the movie Jaws. They promised that by January, "I can confirm they will be able to host ICO's on our blockchain agnostic platform this year." STRAT is on the cusp of being able to host ICO’s for other companies. This is extremely valuable technology and they’ve announced it will be ready to go this week. Would anyone like to know the going rate of an ICO? 20-40BTC. Per ICO these small companies and their coin holders are making $250k-$600k at the depressed BTC prices. This is a very big business. They’ve also announced 2 Flagship ICOs that will be available on their STRATIS network in January. The platform to host ICOs goes live this week, and within 2 weeks we find out which ICOs STRAT is hosting. This should be a very positive 2 weeks for STRAT. ARDR’s platform launches Jan 1st. Ardor’s blockchain becomes fully operational Jan 1st., and the Genesis snapshot is announced 1 week in advance. Not to mention all those NXT you’ve been holding for the free IGNIS are used specifically on the ARDR block chain. ARDR should continue to trend upward with NXT and IGNIS leading up to the airdrop. With a new platform and coins to be used on it this will be a positive week for ARDR with exceptionally high returns correlated with the new platform and IGNIS. I am including some CB predictions as they are a favorite DM topic I’ve received of late. CB Future Picks the same screenshot that showed BCC showed XRP and Monero. CB admits new coins will be added in the next few months. It was speculated in the online community that because CB released wallets for BCC, XRP, and Monero that those would be added next. CB adamantly denies that they planned to add BCC, XRP, and Monero. And then CB added BCC. I fully expect XRP and Monero to be added within 2 months, and that the original rumor they denied had some truth to it. XRP and Monero are buy and holds. Another favorite question is ICOs. ICOs are very difficult because 99% of them are garbage which is why I've only recommended 2, one of which just met it's hard cap for fund :/. The only one left I like is.. Crypterium- The team is unreal and they are presenting at the Dubai Blockchain Intl’ in January. The ICO is also ending very soon! The bonus period ends in 2 days so I highly recommend getting an ether or 2 involved in this. The Dubai Blockchain Intl’ will greatly increase the number of individuals interested in holding Crypterium, (I make $0 off my posts and extensive research if you do purchase the ICOs please use my referral link): https://tokensale.crypterium.io/?ref=4a5381543424516aa2b4e3a6 Some Lovely Followers Requested I Provide Addresses for “Thank You’s and Holiday Cheer” Here are 3 address to help provide my girlfriend with presents so I can spend more time researching! What is 5% of the 200% I earned you this week? (NXT, Verge, MCO, PAY, EMC2, STRAT) ETH: Address: 0x955A1a68613C028Ea98b0b5dcC58901897EB90DB LTC Address: LSnEW1h1bZwFH67s9tXZVX2GCZHNmzFGVN BTC address: 1GKPSkohnt9pSgBnXRmn2SejQNPWD96qif Once again, no tips are mandatory but I spend 100’s of hours a week researching to make your investment and my small investment grow! Help spread the love this Holiday Season! THESE ARE SOLELY STRATEGIES I USE IN THE CRYPTOCURRENCY MARKETS BY NO MEANS AM I TRYING TO PROVIDE INVESTMENT ADVICE. I DO OWN SOME OF THE LISTED CURRENCIES FOR THE REASONS I’VE STATED.
Cryptocurrency as an Environmentally Friendly Alternative
First off, apologies if this is not the right place for this kind of post, but it is something I'm passionate about for a number of reasons and I hope people find it as interesting as I do. Bitcoin Many people have heard of Bitcoin's crazy energy consumption. Most blockchain crypto-currencies suffer from the same issue. Crypto-currency mining is a drain of energy and electricity. Bitcoin has solved one problem, only to cause another. Sure, Bitcoin's total energy consumption is less than the global banking sector but it's not an exact equivalence. Currently Bitcoin mining is using up the same amount of energy as a small country. This is neither practical nor sustainable. NANO However, there exists a crypto-currency called NANO that I'd like to bring attention to (without going into too much technical detail). NANO is infinitely scalable, it has no transaction fees, it has sub-1 second transaction times, and most importantly of all - it is not mined. To call anything "environmentally friendly" that requires more energy than it produces would be disingenuous but the differences are staggering. Per transaction it is estimated that Bitcoin uses 450-950 kWh of electricity. NANO uses a meer 0.112Wh. To put this into perspective, NANO uses between 0.000001% - 0.0000025% of the energy Bitcoin does per transaction (if I've done my math right), whilst also improving drastically on transaction speeds, fees and scalability. Compare this to the global banking sector and it is but the smallest of fractions in energy consumption. The entire global NANO network could be powered by a single wind turbine. There is even an initiative to plant trees to offset NANO's (already small) carbon footprint. The Technical Bits NANO has achieved its relative environmentally friendly status by the following:
The Block-Lattice. Where Bitcoin uses a single blockchain, with a single point of entry on the chain that miners compete for, every NANO account has its own blockchain. Each account's chain has send and receive records, meaning no competition, no mining, and no fees.
No Mining. All the NANO that will ever exist have been distributed by publicly available "faucets". There are still some of these, but the quantity received is small. NANO can still be bought on exchanges like Binance and used on cards like Wirex.
Conclusion Crypto-currencies are undeniable in their infancy, and with this comes volatility and speculation. But, just like the internet, the potential is there. The first websites were clunky, slow and poorly designed. Few people had the internet when it first became commercially available, and many skeptics thought that the .com boom was a bubble that would burst and fade into obscurity. I believe the same is happening with crypto-currency. However, I'm not posting this to shill crypto-currency. Use it or don't, it's up to you. But there is a real potential to help the environment by using crypto-currencies like NANO and I don't think this should go ignored. With most environmentally-destructive practices been performed in the name of money, I think it's important that we tackle this at the source. If we can use currency in a sustainable way, we can chip away at the ever-mounting bricks of energy-consuming markets. I'd be interested on hearing people's thoughts about any part of this post, and I'll happily answer any questions I can.
https://cryptomurmur.com/wp-content/uploads/2018/06/The-way-money-used-to-be-1.png I wrote this story about the paradigm shift that cryptocurrencies may cause in the future, from the perspective of an old man reflecting on the past. If you enjoy this story, please have a look at other material I have written at https://cryptomurmur.com/ The Way Money Used to Be “I remember it like it was yesterday, James,” the old man wistfully pondered. “Money was so different back then. Everything was different.” “How so, Will?” the younger one asked - not so young as to be a child, but young enough to not remember the way money used to be. “Back then,” Will replied, “money was not something shared and traded freely like it is now… it was mostly owned by a few, and they were the few who controlled it. They issued it, and they manipulated its value to their advantage.” “They could print it, as much as they would convince the people they needed, and over time, the money became worth less and less, but the people would owe more and more.” “But if they mined it and mined it,” James asked, “and mined it all, wouldn’t they run out of money eventually? Then the money would be scarce and become worth more, right?” “No, no, no!” Will was amused at James’ naivete. “They didn’t mine it like we do now. Now, our computers solve mathematical problems to mine a currency, and it becomes more and more scarce, and more and more valuable, but back then, the people in power just printed more and more money as they saw fit, creating more and more debt and less and less value.” “Out of thin air?” James was incredulous. “How could they do that? Didn’t people see how they were taking advantage of them?” “It took time for people to realise. They began to realise when the new money came to be. But it was a slow, gradual change. Cryptocurrency did not have a good reputation, at first.” James was confused. “What do you mean? How can a currency be bad? Can’t it be used for good or bad?” “Of course!” Will replied, “but the few who controlled money wanted to keep things that way, so they created fear and paranoia about the new money. They said cryptocurrency was only used by criminals, paying for committing horrible acts with impunity, behind a shield of anonymity. The old money, on the other hand, was tracked and followed everywhere it went on the Internet, thus creating the illusion of safety. In reality, though, it was controlled and manipulated.” “And people didn’t mind? They just willingly gave up their privacy like that? Bizarre!” James was struggling to relate to such a different way of seeing the world. “They didn’t know there were better alternatives” Will explained. “Money was not only controlled by the few, the powerful, and the elite, but also by tanks, guns and bombs. There wasn’t much the average person could do about it at the time.” “Money was centralised - controlled by a few powerful entities. Not like now. Cryptocurrency as we know it today has no central authority. It can not be attacked and destroyed at any one single point,” Will continued, “It wasn’t secure like it is now, either. Money could be stolen and hidden in vast quantities by those in power who could control what was seen, so nobody could possibly know if a government or other person in power was stealing money from the rest of the people.” James was astonished. “No public ledger? So, you just had to trust the people who controlled the money to be honest about the money, when it was in their best interests to be selfish? That makes no sense!” Will laughed. “I know, it’s funny when you think back how it just seemed perfectly normal and acceptable at the time! Now it seems… ridiculous!” They chuckled as they reminisced. “I remember…” Will continued, “You would have to go to a place called a bank - a place that might give you permission to store your own money there if you had enough money to begin with, and then charged you for storing it, charged you for withdrawing it, charged you for sending it, and profited from gambling it, all while charging you more to borrow it!” “That’s crazy.” James almost sounded disgusted. “You didn’t just store your own money in your own wallet? And just send it to whomever you please?” “Nope!” Will replied. “Instead, you asked the bank to send it for you, for a fee, of course! And if you wanted to send money to family or friends across the world, well…” “Well, what?” James prodded. “Well… it could take days, and it cost a great deal.” James answered, “Well I suppose that’s fair since that was before the internet, right? I mean, it wouldn’t be so easy to move money like that back then, right?” “Oh, no, no.” Will clarified. “The internet had already been around for quite some time, in fact. But because currencies were not cryptocurrencies, because they were centrally controlled with middlemen like banks, there was not much choice but to pay for the banks to move the money as they saw fit. And if they could make more money charging fees to send money around the world, why wouldn’t they?” Will chuckled. “Wow” James found the whole scenario amusing. “It’s funny how when you look back at something in the past, it can seem so ridiculous, but at the time, it seems perfectly reasonable” Will contemplated. “I know I’ll never understand it!” they laughed together, one at memories of the strange ways things were in the past, the other not quite understanding how different things had become. So what exactly is cryptocurrency then? Cryptocurrency attempts to solve many of the problems of the modern money system, called fiat. In the current money system, money is printed or minted by selling debt. The money is then lent out to borrowers and spent around the world. More and more money gets printed and more and more debt gets created. Since the money is created out of debt, it is impossible to ever pay back the debt entirely as more debt is constantly created with the money that is used to continuously pay the debt. Cryptocurrency, on the other hand, is not printed or minted out of debt. It is created, most commonly, through a process that uses computer work, solving math problems that can not be cheated. It is created by anyone who chooses to participate in its creation, called a miner, much like miners of gold and other precious metals. When a miner successfully “mines” a cryptocurrency by solving a math problem with a computer, they are rewarded with a “block”, and can choose to keep the reward or to trade it with others. So, it is not controlled or stored somewhere by any one person or government. This is the greatest unique attribute of cryptocurrency - that it is decentralised - not controlled or stored by any one “central” person or group of people. Cryptocurrencies use computer code that makes it secure and prevents it from being copied, so it can not be created out of debt and can not become so plentiful as to be worthless. Whenever someone trades cryptocurrency with someone else, the transactions also use this computer code, called cryptography, to make sure the transaction is true and that it is secure. Miners are a part of this process, making sure that every transaction is correct and is not a duplicate or an incorrect amount. Most cryptocurrencies record these trades in a chain of blocks, called the blockchain, with each block storing information about the trade. The blocks create a chain of information that is checked by miners to make sure it is true. So cryptocurrency, through the use of cryptography, is far more secure than old fashioned fiat money. Another great advantage of cryptocurrency is that it is much cheaper to send to people anywhere. Since there is no need for any kind of bank or money transfer agent, the fees can be tiny, rewarding miners around the world for checking that each trade is correct on a public ledger; the permanent and unchangeable list of trades seen on the blockchain. The public ledger is like an open account book where everyone can see all of the trades. Anyone who wants can look and see the amounts of currency that have been traded. Cryptocurrencies can use features that makes these transactions anonymous to varying degrees, to protect the privacy of traders. Money can be sent anywhere in the world without any border issues or bank accounts, directly from one person to another using this cryptographic system. The fee to send cryptocurrency to the other side of the world would be the same as it would be to send it to your neighbour because of this system. Often, because of a cryptocurrency’s ability to send money anonymously anywhere in the world, it is portrayed as being used mostly by criminals for various crimes and terrorism. In reality, fiat money is used for almost all criminal activity in the form of cash, mostly USD. Ultimately, any currency can be used for good or evil, but it is in the interests of central fiat powers, who make a great deal of profit from debt, fees, and fiat money fabrication, to maintain a negative image for cryptocurrency. Of all cryptocurrencies, the best known by far is Bitcoin. It is the oldest blockchain with the most miners and is seen as the most trusted and secure for this reason. But there are many other cryptocurrencies with different purposes. Ethereum, for example, is a cryptocurrency that was created with the idea of using the currency itself as a sort of platform for programming. Many cryptocurrencies are traded for goods and services on a constant basis, like Litecoin, Monero, and Ripple. There are literally thousands of cryptocurrencies for different purposes! If you’re interested in cryptocurrencies, you can learn to mine them on your own computer or you can simply buy them from exchanges like Coinbase, Kraken, and Binance. There are new exchanges constantly springing up around the world, so check out exchanges in your region.
Bitcoin mining is performed by a collection of many computers on the Bitcoin network where these powerful Bitcoin mining tools solve extremely complex math problems. The answer to such a problem is a long string of numbers, called a hash or proof of work. The Bitcoin network adjusts the difficulty of the mathematical problem so that a valid hash is generated – thereby enabling a block to be ... Bitcoin mining is implemented by an application installed on the computer so anyone can participate in the bitcoin mining system. After a period of digging on traditional computers, some companies around the world have created hardware specifically for Bitcoin mining , which facilitates significantly faster block creation and transaction processing, increasing efficiency than conventional ... Bitcoin Mining is the process through which Bitcoins are created on the Bitcoin network. Users utilize special software to solve complex math problems, and in turn, they are rewarded with a certain number of Bitcoins. The process creates a smart way to issue the currency and at the same time creates an incentive for more people to mine. What is Bitcoin cloud mining? Instead of buying actual tangible hardware in order to serve as the computational power to solve their math problems, cloud mining allows for miners to instead pay for already acquired hardware which are in data centers across the globe and then use it to mine Bitcoins. Bitcoin Mining is a decentralized computational process that was initially developed for solving complex computational math problems. ... Bitcoin mining is a decentralized computational process that was first introduced by Santoshi Nakamoto to solve complex computational math problems. These problems are so complex that they require powerful computers. In bitcoin mining the miners, race ... Bitcoin miners use high-powered computed to solve complex computational math problems, and the whole process is called the “Proof-of-Work” consensus algorithm. The result of this endeavor is two folded – miners “create” new bitcoins, and they also help verify each transaction, keeping the payment network secure and trustworthy. The latter happens when the miners clump transactions ... Free GPU Bitcoin Mining Software Solution. With Bitcoin, miners use specialist software to solve math problems and are issued a certain number of bitcoins in exchange. Free GPU Bitcoin & Ethereum cloud mining. Start mine daily free BTC and ETH to earn money without hardware. Bitcoin users generate new Bitcoins by running specialized software on their computers. This software solves math problems (Bitcoin algorithms). The more math problems that computer can solve, the more Bitcoins that user will generate. Computers solve these problems using their processing power: the more processing power you have (like in your ... Bitcoin miners use high-powered computed to solve complex computational math problems, and the whole process is called the “Proof-of-Work” consensus algorithm. The result of this endeavor is two folded – miners “create” new bitcoins, and they also help verify each transaction, keeping the payment network secure and trustworthy. The latter happens when the miners clump transactions ... That’s why many undergraduates prefer to ask for professional help, “Please, do my math homework for money” and start mining in the hope of getting rich rather than poring over college assignments late at night and getting a low grade. Today, mining is a highly competitive industry with thousands of participants around the world. Let’s find out how mining works and if it’s possible ...
Im heutigen Video sprechen wir über den Binance Bitcoin Hack, bei dem über 7000 BTC geklaut wurden. Außerdem sehen wir uns die Gründe an, warum der Bitcoin die beste Investition darstellt und ... 📊 Binance: https: ... BITCOIN MINER DUMPEN ihre RÜCKLAGEN! EFFEKT auf den BTC Preis (kurz- und langfristig)? - Duration: 10:05. CoinCheck TV 2,372 views. 10:05. BITCOIN TRADEN mit Hebel! Wie ... Bitcoin mining difficulty example. THIS IS CRAZY!! This is a great example of how fast the bitcoin community is upgrading their hardware and leaving my micro... Bitcoin Golden-Cross Binance Hack FUD Ripple wie Amazon? Chainlink löst DeFi Problem Tezos Rakete IOTA Sicherheits Update 🔐 Bitcoin & Crypto Wallet... 💙Phemex $112 Extra Bonus: https://phemex.com/web/user/register?group=74&referralCode=I4IEK 💛Binance Futures 10% Rabatt: https://www.binance.com/en/futures/re... #cryptocurrency #BAKKT #Bitcoin #altcoin #binance #kucoin #coinbase #ripple #cryptocurrencynews,#xrp #bnb #neo #bakkt #fidelitydigitalassets #bitcoinprice #bitcoinnews,#bitcoinpump #bitcoindump # ... Off The Chain #238: PlanB on Why Bitcoin’s Stock-To-Flow Model Is Becoming More Accurate Over Time - Duration: 1:05:59. Anthony Pompliano 44,563 views