Butterfly bitcoin miner btc mining hardware bitcoin mining pc how are bitcoins mined bitcoin cpu mining bitcoin fpga miner. Butterfly labs bitcoin mining. Live Komodo / Bitcoin chart. Free online platform for market analysis. Economic calendar, international coverage, technical indicators & latest news.

What is Bitcoin Mining? There’s been much buzz around Bitcoin of late, which has already smashed through a whopping $7,000 in the first week of November 2017. Traded by millions all over the world, Bitcoin once more made the headlines with this phenomenal appreciation in its value, attracting more and more traders to invest in it. Investing in Bitcoin is a Wow business, only if you know your rise and limits, while the market is fluctuating. However, apart from this, how well you know what generates Bitcoin to be available in the public ledger?

The process is known as Bitcoin Mining. Introduction to Bitcoin Mining Bitcoin mining is a peer-to-peer computer puzzle, employed to protect and verify all transactions; i.e. Making payments on a decentralized network from one user to another. Mining process involves transferring bitcoin (in the form of Transaction Data) to the Bitcoin Global Public Ledger. These transactions are made in groups and each transaction group is addressed as ‘Block.’ These blocks are typically protected by Bitcoin miners and placed on top of each other, building a chain. The record of your past transactions is called ‘Blockchain’ and it acts to authorize transactions made to the rest of the network as having occurred already. Well, apart from this, there are Bitcoin Nodes, who own and use the Blockchain as a full client and share blocks plus transaction across the network.

Block nodes also differentiate authentic bitcoin transactions from the attempts made in order to re-spend the coins. What is Proof-of-Work? Bitcoin mining is among the most well-thought computer math, designed as resource-intensive. It is built difficult so that miners could not find as many blocks as they desire and as a result the number of shared blocks remains steady over the time.

Each block contains proof-of-work (PoW) to be measured valid. PoW is a measure of how the monetary supply remains finite and controlled.

PoW is typically substantiated by Bitcoin nodes every time they receive a block request. There should not be any double-spending and this is why Bitcoin is secured by PoW. This makes the Bitcoin ledger absolute and relative. How does mining generate new bitcoins? The primary motive of mining is to countenance Bitcoin nodes to reach a secure, invasion-resistant agreement.

It’s a mechanism through which new Bitcoins are introduced into the system. Miners, on solving more blocks, are paid fees (in the form of Bitcoins) and they also enjoy subsidy of freshly generated coins – known as Block Rewards. Both of these transactions help distribute new Bitcoins on a decentralized network and also encourage people to impart protection for the system via mining.

A few things to know about Bitcoin Mining Pools In the past few years, an increase in hashrate (Bitcoin mining power) has been observed, making things difficult for the miners to solve blocks single-handedly and earn as much block rewards as they want. To reimburse this, pool mining was introduced into the system. It is an approach wherein miners contribute to block generation only to split the block rewards as per the subsidized processing power. More into the matter Generally, Bitcoin mining pool offers a set of 12 payout methods, of which PPLNS (Pay Per Last N Shares) and Pay Per Share (PPS) are the most used. Mining can be highly competitive at times, as its primary purpose is to find or solve the Blocks before anyone else’s miner does.

On successfully solving blocks, you’ll receive block rewards coupled with transaction fees from the nodes. As there’s been quite hike in the hashrate in the past few years, mining has been made a little hard, and thus earning the payout rewards too. Pool mining actually simplifies the process for the beginners. Mining pool is designed to get connections from global miners and pool their hashrate collectively so that mining with increased total hashrate can be possible.

While doing this, the discrepancy of solving blocks rises as there come higher total hashrate while attempting to process the block as fast as possible. With multiple types of mining pool payout methods, one can pick the one that is best for him or her, based upon personal requisites. Choosing a should be based on which pool seems to be the fairest and which can bring you maximum payouts for the investment. Most mining pools are fairly designed though and also offer fair payouts, but that depends upon the type of pool approach. Here is a couple of mining pool payout approaches that will help you make informed decision while choosing the mining pool. Pay Per Share (PPS) PPS or Pay Per Share approach is used to provide a prompt flat payout for each shared block. The payout is typically made from existing pool balance and can so be drawn-out instantly, not waiting for any block to be solved or established.

In this pool payout approach, the chances for cheating the miners by the pool operators are brought to zero and so are the timing attacks. In this process, miners get to pass on all the risks to the pool operator, resulting in variance. Moreover, the resulting loss probabilities for the server are counterbalanced by situating a payout lesser than the full estimated value.

Pay Per Last N Shares (PPLNS) is to make higher payouts. It offers you a range of fluctuations within 24 hours of payout, but it better suits the uncompromising and committed miner. Ethereum Classic ETC Mining Computer Buy. PPLNS is for the traders who wish to mine as quickly as possible.

One thing that must be remembered while choosing the pool is its global hash rate, and whether you are able to select a pool that might not possess highest hash rate. While doing so, you concurrently reinforce smaller pools and blowout the hashrate to help in mining decentralization. This apart, consider choosing a mining pool with nodes nearest to where your miners are situated. For your information, pool nodes are mostly fair and fine worldwide, and they also help with lower latency and lost shares.

Some Bitcoin Mining Pools come to offer both the payout approaches discussed above, allowing you to start mining at competitive price and also give cloud mining contracts, which is meant to harvest the profitability. Now, as some question the advantage of mining, let’s talk it out Some bitcoin miners get into mining as a hobby and because it pays something back. If you were to estimate the time and capital amount spent in building and operating the rigs, at the market rate for the efforts, you can see very few miners earned profits.

Large-scale mining operations that intend to benefit from scale economies, are as well few in numbers when it comes to showing the profit. Now come those miners, who aren’t even playing directly for power. Just remember one thing that miners contest for a little amount over an average amount of $1 million dollars.

Like this, there are thousands more miners, participating and actually playing for a small amount. Cryptocurrency and the benefits of bitcoin mining Like the rest of the world, you too must have heard of, especially Bitcoin, but what most have no idea about is how to mine it.

There’s been a common inquiry ever since, how to mine something that has no physical actuality; for this you have to understand what exactly bitcoin is. Bitcoin is a digital currency which has started to be accepted as a payment type. A number of retailers and e-commerce stores like Amazon.com, Overstock.com, Expedia, eGifter, Newegg, Dish and Shopify accept Bitcoin as a payment type. Digital currency, as the name suggests, has no physical existence and this is something that simply does not fascinate the financial experts much. For not being regulated by Governments or any other financial agencies, Bitcoin has always caught up controversies worldwide amidst its sky-high price rise.

The exchange rate between BTC/USD has now reached a different level altogether. Crashing through $6,900, Bitcoin is again set to lead the Cryptocurrency market, as always.

If we see a few years back when Bitcoin was first launched in the year 2009, there was basically no transaction made. In the following years, especially in 2011, Bitcoin came up at par with Dollar, with 1 Bitcoin = 1 Dollar.

However, the world got a big surprise in 2013. The price hiked up to $266 = 1 Bitcoin, followed by a decent drop in the very same year, with $130 being valued equal to one Bitcoin. Yet, it was considered stable.

Subsequently, from 2014 to 2016, the market saw immense rise in the price of Bitcoin and as of 15 th Nov, 2017, 1 Bitcoin was priced at $6964.81. However, what is the point of recalling history, unless you don’t understand how you can mine it? So, here is the process explained for you. • Buy a customized mining hardware When Bitcoin was first launched, one could mine only using the desktop’s GPU and CPU. While today it is still in trend, outcomes make it inappropriate to mine the bitcoins using a desktop’s hardware and limited computing capabilities.

A trader not only invests its efforts, but also consumes more electricity than mining coins in the process. Now, custom mining hardware is available in a card form that you have to insert into your computer slot, much like you insert the DISH Card. Bitcoin Ultra, Butterfly Labs and CoinTerra are some of the leading companies offering hardware.

If you are looking for a dedicated Bitcoin mining hardware, make sure you have a good budget, because it will cost you dearly. Starting from few dollars to thousands, depending upon how many operations it is capable to complete, the price of the hardware will vary. • Get a Bitcoin wallet You have to get a digital wallet, where your Bitcoins-to-be-earned will be stored. This wallet is fully-encrypted in order to keep the hackers at bay. Bitcoin wallets can be availed either locally or online, known as Local Wallet and Online Wallet.

Since security is priority in trading business, people prefer to hold local wallet since the server that hosts your online wallet has no accessibility to it, and hence no third party credential records. You may lose all your earnings stored in online wallet at once, if any disaster happens at the hosting server’s end. It though takes nothing much to setup a local wallet except the verification of Blockchain, which is on the other hand the record book of all bitcoin transactions done by you so far. • Time to secure the wallet To earn the ownership of your wallet, you have to secure its accessibility and make it limited to you only. Else, online wallets basically have no security; anyone who gets to access it can use your coins. In order to protect Bitcoin wallets, use two-factor or sometimes three-factor authentication security.

Being a wallet owner, all you have to do is enable the two-factor authentication and store the wallet on your device that has no internet connection. If your device is running out of space, you can use the space left on your SD card also. • Choose between going alone or joining the pool When it is finally the time to start mining Bitcoins, you come to decide between whether you want to go alone or joining the pool will serve your needs better. While joining the pool will allow you to distribute resources and divide the rewards that will consequently bring faster outcomes, mining alone is hard since earning new Bitcoins has gotten more than just complicated today. • Install the latest mining program For your information, there is no cost involved in mining program installation.

Most programs are open source and accessible at no cost. You will find a range of Bitcoin mining programs, but your selection completely depends upon your Bitcoin mining hardware.

Make a note that Bitcoin programs are command bound and do need a set of files to get started properly, especially when you are linked to a pool. BFGminer and CGminer are amongst the most popular mining programs that run on graphical interface. It has details on how to connect the miner with pool mining program.

In any case, if you are mining alone, make sure your Bitcoin wallet is connected with the mining program. This will help in depositing your earnings to the wallet automatically. • Run the miner now On successfully configuring the mining software, it’s time to begin the process. The batch file you have created in the beginning needs to be run now, but only if necessary. Moreover, keep your eyes on the miner connection while the operation is on. Most of the times, the rest of the computer programs go slow while the miner works.

• Monitor the temperature Remember, mining programs are too strong that they use the hardware to its limits. Conditions get even worse when you are not using a hardware which is mining-compatible. For this to keep a check on, you can use SpeedFan program.

This will ensure that your system’s temperature does not go beyond the safe limit. Graphic cards do no let your system’s temperature go beyond 80 Degree Celsius, i.e.

176 Degree Fahrenheit, thus allowing the hardware to perform at its best efficiency. • Lastly, do not forget to check your profitability Now that you have been mining for a little while now, it’s the right time to pause and check your figures. Remember, your aim is to make it either equal or more than the investment. However, in Bitcoin mining, it is the otherwise most times. What is the future of Bitcoin Mining? It’s even less than a decade when the Bitcoin was invented, but what surprises more, is the incredible spread and proud rise of this euphoric digital coin. Following the undreamed-of rise of Bitcoin, the market witnessed the emergence of more crypto currencies, but none could beat the credibility and competence of Bitcoin till date.

Increasing number of Individuals and businesses across the world are investing in Bitcoins. While some with abundant capital are buying the coin, some think mining is more advantageous. Now, why not we just check out how mining bitcoin takes an edge over buying it. Despite such high rise of Bitcoin, its usage is limited and the mining is still a new concept. Experts say, it will take some more time to be welcomed by the society at large. A majority of people simply can’t imagine investing in something that has no physical entity; similar is the perception of some experts.

They rather say that bitcoin is no future money and a day will come when its investors will re-think the matter. Anyways, let’s just put what is and what not aside and get back to brooding over ‘how Bitcoin mining is benefiting the world?’ Here are the key pointers. • A well-timed miner has the potential to make the most of their every mining attempt. • Mining lets you track your transactions.

Be known that bitcoins are never tainted. • There is no commission fee involved with the coin acquisition other than the expenses in hardware.,,,, Post navigation.

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• • • • Wallets ▾ • • • • • • Social Media ▾ • • •. The most important part of a decentralized crypto coin/asset's lifecycle, the ICO, is centralized. Being centralized it is subject to the whims of goverment decrees about what can and cannot be ICO'ed.

As long as you pay the required toll fees, you will be granted a license to sell coins/assets, unless it is deemed that it wont be approved for whatever reason. As far as how long this process takes, well, totally in the hands of whatever government agency is dealing with it. People should have the right to barter what they own for whatever they want (assuming it is not a universally illegal item). People should also have a right to privacy, or at least a right to not self-incriminate. Any government is free to proclaim any specific crypto to be totally illegal for its own citizens. However, it is not right that any single government can dictate to the rest of the world what is and isnt illegal.

Assuming we can agree on this, we can create a totally decentralized ICO, that also happens to make it exponentially more difficult for whales to gobble up the entire amount for themselves. A fully decentralized ICO as compared to a centralized ICO would be like torrents versus napster. As much as a government would like to be able to control (dictate) what people can do with their own money, they wont be able to.

There are two sides to an ICO, the offering side and the purchasing side. We will assume that the purchaser is an adult who is capable of thinking for themselves and does not need a nanny state to decide for them what they are able to do with their own assets. Furthermore, invoking the thousands of years old right to barter, it could well be that lawyers can find grounds in common law to supercede the more recent regulations. After all, if you own something shouldnt you be able to barter it for something else?

If you are prevented from doing this, in effect, you have lost ownership and if you didnt consent to this, it seems a lot like a theft has taken place. In case that your rights are being infringed, it should be within your rights to mitigate damages using reasonable means. Like using the Komodo Platform. The first step is to create funds that are private and only you know how to access.

Since you are the only one that knows this, only you can incriminate yourself (if it is indeed against your local regulations for obtaining an ICO). We will assume that you prefer not to self-incriminate nor do you feel like giving up your privacy. What you do with your private funds privately bartering for an ICO, can only hurt yourself in case it is not a good ICO. However, we already covered the part where you are an adult and will do your homework. If the ICO goes bad, you have only yourself to blame. This is crypto. By using JUMBLR, you can create private KMD to use as you deem.

Now, let us envision a barterDEX orderbook full of the ICO's utxos. You can use barterDEX to barter your private KMD utxos for the ICO's. It is a direct swap without anybody in between.

There can be no money transmitter issues if it is your private KMD being swapped directly. Now you converted your private KMD into a private amount of the ICO in a totally private address. Nobody knows this happened except you. This is true financial freedom. Let us look on the issuer's side. If to use the Komodo Platform's assetchains, it turns out that technically it isnt an ICO at all, as all the coins are issued on the first mined block.

This is done privately by the issuer. If running a blockchain and issuing coins to yourself is not legal, well, it seems you are in a totalitarian state and must make plans to relocate. Now you have all the coins for the ICO, you then split it up into a large number of small utxos and distribute it across dozens (or hundreds) of servers around the world. It is hard to fathom any way that this process violates any laws of any country that respects human rights. In this case, the right to use computers and the internet. Now we have thousands of utxos of a small enough size to be below any reasonable KYC requirement. Of course, the issuer should have legal representation and a friendly jurisdiction (like Singapore or Isle of Mann) to be the domicile for all the legal paperwork.

It might be that an IP based geo-filtering for USA and China might need to be added to prevent citizens of those countries from violating their own laws. We might need all participants to self-certify they are not doing anything against their own local laws or at least indemnify the issuer against any damages. Now the issuer runs the barterDEX and sets prices for the utxos and as soon as this is done, the people can ordermatch and obtain part of the ICO.

However, it is easy to notice that it is not a matter to make one giant whale sized order to obtain the entire amount offered. The global distribution and usage of the barterDEX process limits the number of utxos any single person can obtain at a time. Given a large demand, all diligent participants are expected to acquire a proportional amount to their bids. Another advantage to the decentralized ICO is that there is an immediate trading market, in fact, it was via this secondary trading market that the ICO was distributed. So all decentralized ICOs will start trading right away.

The Komodo Plaform utilizes is existing technology base of JUMBLR and barterDEX to create a game changing method for conducting a fully decentralized ICO. Monaize will be the first of many such decentralized ICOs. Is currently ongoing elusively on the NXT platform - fully decentralized, being run by guys with 4 years proven experience in blockchain.

They will be releasing a revolutionary new blockchain -Ardor with a parent/child structure in a couple of months. Everything they mention above, plus loads more like voting, messaging etc is already available in ardor(on test net, release in November) after 2 years of development. The above is almost a copy paste of the ardor whitepaper. If you want to talk about first mover, you're backing the wrong tech • • • • • •.

Decentralized as you can get? DigiByte DGB Mining Per Day. One of the points that Komodo made was the DICO would mitigate the effect of whales, and if you remember the first week of Ignis ICO, a whale exploited the system through phasing transactions to scoop up 95%+ of available tokens at the best rate.

Hardly seems decentralized. Other ICO's have had similar occurences Additionally, simply having an ICO on blockchain does not make it decentralized, in fact if it is one only one blockchain especially when those chains lack anonymity features then I would argue that its fully centralized The US does not automatically view coins and tokens as securities, it is more about the conditions of the offering and what it entails. • • • • • • •. A whale exploited the system through phasing transactions He didn't exploit anything, he researched how the platform worked and used one of its features - phased transactions. Everyone could have done this, we are all just to stupid to see it.

Scoop up 95%+ of available tokens This is incorrect, he got the first two of multiple offers within that first week - and while everyone could do the same, the devs still went and made it easier for everyone by updating the client so anyone could use a scheduled transaction with a single click. 2% of total, hardly a central authority Additionally, simply having an ICO on blockchain does not make it decentralized, in fact if it is one only one blockchain especially when those chains lack anonymity features then I would argue that its fully centralized Yes, I agree here with the first part. I was incorrect to say the IGNIS ICO was 'as decentralized as you can get' But there is anonymity on NXT, via shuffling, so not sure of the point there. The first step is to create funds that are private and only you know how to access This however is the very definition of centalization, one single authority! The main point I am making about komodo not being first still stands. What you are proposing above already exists on Ardor, where anyone can create a private funds/currencies.

You also 'imagine' a DEX where you can use these coins to buy into another ICO, avoiding having to use fiat etc etc. Again this is already on Ardor, a platform that is releasing before end of year, and that anyone can download the test version right now and see for themselves. • • • • • • •. Nxt's coin shuffler has never been heavily used. Also shuffling makes it only slightly harder to track the tx's, nowhere near what zkSNARK let alone zkSNARK+Jumblr can afford.

MS currencies are tied directly to NXT's chain ( and soon Ignis' chain ). In KMD, these currencies would be their own blockchain. This is a very important fundamental difference. If you remember some history of NXT and why jl777 and the rest of us, such as Sasha from Waves left. It was because of jeanluc and rikers centralized control. They decided to 10x the fees on NXT.

This is the centralized control that is avoided in our system. Relying on one blockchain to do everything is centralized from our point of view.

Because when the devs decide to change the rules of the game, ( like NXT devs did ) people who built on top of the system, just have to bend over and take it. Regarding the whale (s), while one player got the first mover advantage, several others employed that same tactic. The point being the offer wasnt truly open to everyone. Though if you want to hide behind technicalities. And saying that the whale didnt exploit the system is like saying weev didnt exploit AT&T and that the off-by-one error is just part of the system.

Please, if the process was made to work in a way that it wasnt intended, then it was exploited. Childchain!= Independent blockchain. Controllable Currency on Ignis/NXT!= Independent Blockchain Note: Your comment on create funds that are private and only you know how to access, I believe was taken out of context. Jl777 was referring to controlling your own funds on a chain. I dont think the following comment was relevant.

• • • • • • •. Its entirely relevant, if you control the funds, and you launch an ICO with those funds how is it not?

Anyway, this back and forth serves no constructive purpose, I am only going on the OP and in fairness its quite poorly written - it doesn't portray what you are hoping to achieve in any practical terms, and the comparison to Ardor is unmistakable. If you say your platform is not like Ardor that then I will take you on your word. I genuinely hope your platform is a success, the more people like you guys showing a real desire to improve and innovate the better. The best of luck and thanks for taking the time to make some things a bit clearer. • • • • • • •. I believe the comment was from the perspective of the investor and not the ico issuer.

I wish you the best as well, I may be a bit harsh on the NXT team, but I do know they are good guys and that riker and jeanluc are great programmers, just our governance styles are very different. Regarding comparison to Ardor, I do see the similarity, however I will still maintain that splitting different projects that use the same tech base into different blockchains as opposed nesting them on one like childchain/mscurrencies, is fundamentally different. But I guess we will have to agree to disagree there.

Best of luck to you. • • • • • • •. Some of the most innovative companies to have existed started out as illegal businesses. Regulation, whether it be from governments or from monoplys has a tendency to slow down innovation.

Some entrepreneurs with big ideas won't have the possibility of going the traditional fund raising route due to a variety of factors from age to 'criminal history' (which may be do to an oppressive government and not of their actions). With an anonymous ICO they may be able to reach the funding they need. The team may have done a poor job at conveying their ideas today but the potential uses for what they are working on goes way are immense.

Decentralized fundraising has the potential to change global politics and create a society were regulations are based on public support instead of political bureaucracy. This has the potential to allow the global society controlled by the market and the humane collective to innovate very quickly and function more quickly.