Discussion about Primecoin and its infra. Primecoin is a very innovative cryptocurrency, being the 1st non Hash-Cash PoW crypto, naturally scarce (not artificially), with very fast confirmations (1min), elastic readjusting reward & a useful mining (byproducts are primes). Primecoin is sustainable (miners are guaranteed to have revenues), and decentralized (ASIC/FPGA are not particularly advantaged). Sidechain for decentralized data applications (e.g. Storj) currently in development.
Is Bitcoin Private just another Zcash with a different name? No, first of all it has ZCL's freedom from founders tax, but most of all it brings Zcash's key features to the very latest Bitcoin 0.16 (later 0.17) code and eco-system. This will be very unique feature and a reason to exist in itself! Currently, BTCP is being traded at $5.96. If the BTCP coinbase should be valued by Zcash's $880 285 594 market cap, then BTCP would currently have a comparable bear-market price of only $42.93.
What about other Bitcoin forks? Bitcoin Private "followed" a few others (though not comparable, since BTCP has a lot more active development) that became quite successful in the trading market, but completely lacks all kinds of privacy.
The USP of Bitcoin Cash is using larger blocks than 1MB in a Bitcoin. Bitcoin Private has absorbed this feature, in addition to all other features Bitcoin Private will be offering on top of it. Currently, BTCP is being traded at $5.96. If the BTCP coinbase should be valued by Bitcoin Cash's $13 009 341 909 market cap, BTCP would currently have a comparable bear-market price of only $634.47.
The USP of Bitcoin Gold is being a decentralized Bitcoin based on GPU-mining. Bitcoin Private has absorbed this feature, in addition to be put on top of all other features Bitcoin Private will be offering on top of it. Currently, BTCP is being traded at $5.96. If the BTCP coinbase should be valued by Bitcoin Gold's $465 414 261 market cap, BTCP would currently have a bear-market price of only $22.70.
But there are other non-zkSNARKs "privacy coins" that uses various obfuscations techniques (aren't they all proven to be not 100% safe?). Bitcoin Private will eat most of these obfuscation features as a complement to proper shielded transactions in Q4, when Dandelion/TOetc is being implemented. Monero's $1 994 886 372 market cap equals to a bear-market BTCP price of only: $97.29 Dash's $1 773 276 834 market cap equals to a bear-market BTCP price of only: $86.48 Verge's $337 888 842 market cap equals to a bear-market BTCP price of only: $16.48
One thing you notice a lot these days, are troll-minions rushing in on all social media with their relatively new accounts, pointing out how ZCL is traded for a higher price than BTCP (so is BTC BTW ;-) ).
A few things you should keep in mind regarding ZCL:
ZCL Is a dead-end shit-coin that is only used for auto-switched Equihash mining combined with auto-trading (dumping) on pools like Miningpoolhub.
It has a normal trading price of, what, ~8 dollars?
It is currently being pumped to $14.48
A ZCL pump-valuation ($65 520 440) of BTCP would gives a BTCP price of $3.20, which is half of BTCP's current price.
A "normal" ZCL valuation ($8 per coin, $36 203 600 in total) of the BTCP coinbase gives a price of a meek $1.77(!).
So no, ZCL is notworth more than BTCP, not even in current pump-mode!
The BTCP circulating supply used for these calculation: 20 504 228
BTW, I think it's interesting that BTCP currently has $531 K worth of trading volume while trading at only a $5.96 price. Doesn't this mean that twice as many BTCP coins are being bought daily now than during ATH in late April?
I was listening to a interview with Richard Heart, Bitcoin Maximalist and he said the strongest the Bitcoin network has ever been was when people were gpu mining Bitcoin and running full nodes on their cpu. 30,000 nodes compared to 8,000 nodes & 1,500 LN nodes Does VTC one click miner have an option to run full node and mine? If Vertcoin had everyone mining also running a node we could easily raise our network value
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The following post by Altcryptoshop is being replicated because the post has been openly removed. The original post can be found(in censored form) at this link: np.reddit.com/ btc/comments/7yalau The open modlog reason it was removed as reported by /btc was: spam The original post's content was as follows:
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This is a throwaway account, not for privacy, but because I only snipe-in reddit accounts when I have something to say. Who I am: I switched from GPU mining bitcoin to mining litecoin in the first week of february 2013. At the time, I was only looking at my bottom line and speculating. And waiting, because, at the same time, I also placed a very large order with Butterfly Labs (BFL). (BFL sucks, don't ever order from them etc etc) I've learned a lot, and I'm now a cryptocurrency fanatic. I still look at my bottom line, but I also feel like I'm part of something bigger. I'm an independent miner. I convert enough of my earnings into fiat in order to pay for electricity and rent. The rest I hold because I see the enormous potential for cryptocurrency. I've tried day-trading, but I'm far too emotional. Maybe I could learn how, but I'd rather buy a bot. I'm also very suspicious about charts and trends. They seem short-sighted and cyclic, they seem to always see the trend, until something happens. Looking at a market through the abstract lense of pattern-finding is stupid. Markets don't follow patterns forever. I firmly believe that the value of a cryptocurrency is directly correlated to its hashrate. So, I like bitcoin and litecoin. My emotional response to the drop in LTC is to abandon ship, but then sensible me reminds me that the litecoin hashrate is rising, and will rise, for months. There is room for two blockchains, especially for arbitrage between exchanges... Anyway, I'm just typing away as usual, so maybe I have to add a tl;dr at the end. My reason for posting this topic "A suggestion to promote adoption" is that I just downloaded a(n open domain) pdf from thepiratebay. You can currently see that the from page at thepiratebay is an image of two of the founders, who are now in prison. I'm posting this because I saw that they accept LTC as a donated cryptocurrency. We should take a page from the Dogecoin community (maybe invite Dogecoin to help) and blow up the LTC donation address. It would make news, and help stem the tide of dismissing Litecoin. What do you guys, and Shibes, think?
It started back when DOGE was on the rise and GPU mining Bitcoin was useless. I heard alot about doge so I decided to give it a shot. In 3 days I earned roughly 15k Doge worth about $5 at the time. I was camping that weekend so I had my pool miner auto cash every 1000 Doge to my Doge wallet on my phone. I was very excited for it was the first glimpse of Doge but then life struck me. At school after that weekend I was texting on my phone. Then some random dumbass runs by and knocks my phone out of my hand. It was almost like time slowed down because I had just taken the case off to clean it moments before. I Picked it up and it was broken. So I took it to the sprint store and they "FIXED" it. When it was finished charging I was shot down to see that they didn't fix it but they replaced it with a new one. The message of the story is to back up your damn private keys. Thanks for Reading and Goodnight.
Hey guys, a while ago I was gpu mining bitcoin on btcguild, they did merged mining so I got some namecoins also. Soon mining became unprofitable and I stopped, I kept the bitcoin and then transferred the namecoins to some website. I know the wallet address that I transferred the namecoins to, the problem is that I've forgotten which website i have to go to, to access the wallet. Is there a way to determine which website i have to go to, to access the wallet form the wallet address that I have? Thanks for any help.
A PoW hardfork will solve a lot more problems long term for Bitcoin than a UASF. My case for a PoW hardfork with or without a UASF
For a long time I thought hardforking the PoW in Bitcoin would be disastrous. The security falling apart etc etc. In reality if Bitcoin hardforked to an egalitarian proof of work that equals the playing field for all miner participants the security of the network would be far stronger than today's reliance on China's warehouse mining operations as well as take the power back as users. Users were always supposed to be miners, but when ASICs became popular only very wealthy individuals have been able to feasibly mine, thus keeping the users left out of consensus in the network. There are very few PoWs that are truly egalitarian for miners with either CPU, GPU, or ASIC to all be on very similar playing fields for hash/$. My proposal is Cryptonight being the candidate for the PoW change. For those unaware, Cryptonight is a PoW that is prevalent in Cryptonote coins like Monero for example. Cryptonight has existed for roughly 3 years and in this time span ASICs still do not exist, presumably because the financial incentive does not exist in cryptonote coins but there surely would be in Bitcoin if it were to use Cryptonight. Cryptonight has a memory-hard properties that give GPUs roughly 3x more performance over CPUs, which is quite astounding because the only other memory-hard PoW that has similar qualities to Cryptonight is Cuckoo Cycle, but recently Cuckoo Cycle has a much larger gap between CPU and GPU performance. GPUs being between 15-20x more efficient than CPUs. Cryptonight requires 2MB of memory for an AES scratchpad that is very expensive to parallelize. Cryptonight ASICs would have a similar performance gap like CPUs and GPUs currently have(roughly 3x). GPU miners and even CPU miners would still be able to compete with ASIC miners greatly decentralizing the hashrate in the Bitcoin network and allowing regular users to voice their opinion through hashrate once again like pre-ASIC days of Bitcoin. There are many people who would love to be able to CPU or GPU mine bitcoin. Every GPU miner that mines alts would jump ship very quickly because most miners convert back to bitcoin anyway. I have a 6 GPU rig kicking around and spare laptops that I would love to use for CPU mining, I know I am not the only one here. Bitcoin would steal the show for miners if CPU and GPU mining made a comeback with a Cryptonight PoW hardfork. China would no longer have an iron grasp over the network allowing decentralized consensus to exist and softforks like segwit and other changes getting activated would be reflected accordingly to the community of miners and not what lines the pockets of chinese miners. The key here is accessibility and Cryptonight PoW would still surely have large GPU mining farms etc but we no longer have to concede to buying overpriced worn-in ASICs that has a shelf life shorter than a year. Every consumer PC would be able to mine on CPU and more dedicated miners today that have GPU rigs would participate. Cuckoo Cycle is worth noting as a candidate for the PoW hardfork but has not been tested in a single cryptocurrency and would predominantly be GPU miners cutting out miners who would want to use their CPUs. A UASF is a short-term solution to pushing through segwit. Every upgrade can't and should not be a UASF. Sooner or later action will need to be taken in the form of a PoW hardfork to take back control from chinese ASIC warehouse farms. I hope a Cryptonight PoW hardfork is seen as a positive change in Bitcoin among the community and we can restore the balance of users having a real voice in the network, not having to rely on chinese miners centralization and finally see a new era of Bitcoin growth and improvement. Bitcoin's halted progress will be stamped out starting with a PoW hardfork. The Cryptonight specifications are here if anyone is interested in reading more. Thanks for reading :)
Hey guys, so I wanted to get into the whole bitcoin thing, and after a little research I came to the conclusion that cpu/gpu mining bitcoins is no longer profitable. Old news to you guys. Looked around some more and people were saying that Litecoin is the way to go for gpu mining. Ive looked up a few tutorials on how to get started, but I can't seem to find any information on if I would even profit with the current computer I have. I dont wanna go through all this work setting up, just to have a program run on my computer that does nothing overall. Most things I see are about people building mining specific rigs, upgrading or whatever, but upgrading isn't an option for me currently (broke university student). Could anyone give me some insight on if I should bother with my current specs? I have an intel I7 - 3770 for my processor and an AMD Radeon HD 8570 graphics card. Another question I have is once I get litecoins, how and when should I trade them for bitcoins? if at all? and finally, lets say I want to cash out, is there any way to get straight up cash? or do I have to make online purchases where these coins are accepted? EDIT: formatting.
Having trouble with GPU mining dogecoin. Here are my specs: AMD quad core CPU, 8GB RAM, and AMD Radeon HD 7450 1GB (an OEM HP graphics card, basically a rebranded HD 6450). I have tried Cgminer and GUIminer scrypt alpha. Cgminer has errors shown below, and GUIminer scrypt gets stuck at “Starting…” Also have installed AMD Catalyst 14.1 and OpenCL SDK. Having no problems with CPUminer. I strangely have no problems GPU mining bitcoin with GUIminer (non scrypt version). Read many forum threads about these errors and followed multiple guides with no luck. This is my cmd output from launching cgminer 3.7.2: [2014-02-13 20:53:43] Started cgminer 3.7.2 [2014-02-13 20:53:49] Error -11 Building Program (clBuildProgram) [2014-02-13 20:53:49] C:\Users...\AppData\Local\Temp\OCL57A4.tmp.cl(762): warning: variable “ySIZE” was declared but never referenced const uint ySIZE = (1024/LOOKUP_GAP+(1024%LOOKUP_GAP>0)); LOOK UNROLL: pragma unroll (line 708) Unrolle [2014-02-13 22:43:53] Failed to init GPU thread 0, disabling device 0 [2014-02-13 22:43:53] Restarting the GPU from the menu will not fix this. [2014-02-13 22:43:53] Try restarting cgminer. Launching Cgminer with the following: cgminer.exe --scrypt -o stratum+tcp://pool.dogechain.info:3333 -u username.worker -p password I cannot think of what else to try. Thanks in advance.
Theoretically, how much would it cost to reclaim the network and restore transaction services?
So there's a denial of service attack on the network right now, with bcash mining being more profitable thanks to this latest artificial pump. I remember during the s2x debacle reading about a person with an expensive nvidia card saying they were profitable in mining btc by a combination of rising prices and lower competition (the chinese miners were again mining bitcash in order to make bitcoin's blocks seem small). So I guess the question is, if the ASIC cats are away and tx numbers being way underserviced either way... Can a pool of 15000 rigs with a couple of expensive cards (vega 64's or 1080ti's) put a dent in the transaction backlog? Can it become marginally profitable to GPU mine bitcoin and help the network out at the same time? It wouldn't be a mining operation as much as an "enhanced node". Does that make any sense? I'm using 15000 since it's the current active user count on the sub.
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