Fixed vulnerability explanation: Why the signature cache is a DoS protection.
January 14, 2013, 02:23:44 PM
I read a transcript ofย #bitcoin-dev (http://bitcoinstats.com/irc/bitcoin-dev/logs/2012/11/09) where jgarzik and, Sipa debated whether the signature cache was a performance optimization or a DoS protection and why.
The sig cache is both of them. But the sig cache was included before performance was a problem because of the DoS protection requirement.
The following attack against versions prior 0.6.3, e-mailed to Gavin on May-2012, explains it:
1. The attacker creates a transaction that pays 0.01 BTC to 100 different addresses. (The attacker must have 1 BTC). To avoid paying fees, the attacker can divide the transaction into slices, each one below 1 kilobyte.The attacker broadcasts the transactions and waits for confirmation.
2. Afterwards the attacker builds transactions grabbing 100 of his own prevouts and adding an additional prevout that he does not own.ย This prevout is a coinbase that has not been matured (it does not need to have a valid signature, since the method exit point is before the script verification). To create many fake transactions, the order of the first 100 inputs is randomized.ย
3. The attacker sends these transactions to the victim. The transaction size would be around 18 Kbytes. The transaction would take around 0.36 seconds to arrive (with a 50 Kbytes/sec connection).
4. The victim’s client app will go with the transaction straight through ConnectInputs() and successfully connect the first 100, and then fail to connect the last. The time required for this check in an average PC is approximately 100 * 4 msec = 400 msecย (an estimation). Then the attacker can hang the vitims app by sending these fake transactions at a rate of around 3 per second. The number of inputs used for the attack is arbitrary (can be as low as 10, giving 10! unique possible transactions).
Note that if the connection bandwidth is higher, then the attack is stronger. If the victim’s CPU is slower, then also the attack also get stronger.
I proposed the solution of a signature cache to Gavin at that time. It turned out that Satoshi himself had thought about adding the sig cache, but I think it was mainly for performance reasons.
Author: BitHouse
Build Your Own ASIC Miner
Again, welcome, welcome, and welcome! Glad youโre here! Thereโs so much to do around these parts that itโs really hard to know exactly where to startโฆ โฆ so, Iโve made a bit of a guide for you so that you can feel the most comfortable digging in, learning about bitcoin, blockchain, and the many different cryptocurrencies, and getting to know the folks!
Also, here are some helpful suggestions on what to share in your introduction:
Who are you?
Where are you located?
What was the first cryptocurrency that you invested in and why?
What are you โTO THE MOONโ goals?
What are you the most excited about in terms of our growing community?
Build Your Own ASIC Miner
I would like to compile a list of resources on how to build our own ASIC miners. I think that this is important for the decentralization of mining power with the current centralization of miners in China and uncertainty of legality in that jurisdiction. Also, with recent controversial discussions of Bitcoin Cash.
According to some of the links below, creating your own ASIC miner is impossible. This will be a real challenge, but I think that it is possible based on information in other forums. We have a lot of brain power here. Sourcing the ASIC chips will be a challenge. If we have any electrical engineers here, I would appreciate your insight. I am setting up my first D3 ASIC miners next week so I will be looking forward to studying the design more closely. If you have any ideas, additional resources, or know anybody who has successfully crafted their own ASIC miner please share your knowledge below. Thanks for your interest
https://bitcointalk.org/index.php?topic=1221233.0 8.2k
It is POSSIBLE
https://bitcointalk.org/index.php?topic=1926350.0 6.2k
List of places to possibly acquire the ASIC chips.
https://bitcointalk.org/index.php?topic=555335.40 3.6k
Why ASICs instead of GPUs?
bitcoin.stackexchange.com 939
Can a competitive miner be crafted at home?
Challenges to overcome.
https://www.quora.com/Can-I-build-my-own-ASIC-from-parts-available-online 3.5k
task at โLevel: ELITEโ
https://www.quora.com/How-do-I-use-an-ASIC-chip-to-create-your-own-bitcoin-miner 2.3k
Basic design, to be developed to the last detail.
https://www.quora.com/Can-I-build-my-own-ASIC-from-parts-available-online2332
https://www.quora.com/How-do-I-use-an-ASIC-chip-to-create-your-own-bitcoin-miner
I think it is clear that we will not be able to manufacture our own silicon ASIC chips at home because that requires some million dollar equipment but I do hope to find a source of affordable ASICโs to experiment with. I hope to learn along the way, without it being too costly.
China: “Mining is illegal operation”
TL;DR 71% of mining is in China. Cheap electricity in China makes mining attractive. Chinese government may be locking down the miners as locals reported apparently(not confirmed yet).
” I know one of the principles at a company that IS designing their own Bitcoin ASIC – and the were talking MILLIONS to get it designed and into production.
THEN they get to add on the cost of the actual chips once theyโre IN production.
I think the reason they went that route was the extreme shortage of โcommercialโ miners and โcommercialโ ASIC chips, even when you have enough money to wave under Innosiliconโs or Bitfuryโs noses (Bitmain doesnโt sell chips at ALL afaik) to get the pre-existing chips – and for the quantity they wanted long-term it might actually cost them LESS to roll their own despite the up-front costs.”
I am definitely dreaming but the dream gives me steam, hehe.
“Good luck finding:
a.People very well-versed in laying out bleeding-edge IC design.
b.Said people also knowing how to route by-hand the SHA256 logic cores inside the chips. Foundry-supplied IP blocks will be useless aside from memory and coms.
c.Then convincing TSMC, GloFo or Samsung to sell you time to make some test wafers. IF they will even talk/work with you Foundry cost per test run will be several 100k$ up-front.
d. rinse and repeat โcโ several times until the chips works reasonably โclose to specsโ. Redesign costs/time for each test run – massive.
e. And this one is a doozy – gathering KNOWLEDGABLE investors willing to put up several 10โs of millions USD to do all of this. Given the horrific past history of companies โmakingโ ASIC-based miners using their own chips and then for various reasons – mostly pure and simple nefarious greed followed closely by them frankly totally blowing the chip and power design – all failing miserably, good luck with thatโฆ
f. Convincing your Foundry to allot production time for you to produce enough chips per-run to make all this worth while. That may be as hard as โeโโฆ”
https://bitcointalk.org/index.php?topic=555335.60 173
All of this to say, I will do my best to incorporate my interest in cryptocurrencies and building ASIC miners into my studies, research projects, and interdisciplinary relationships at whichever university I am accepted and choose to attend. UC Riverside may be the most promising for ASICs research considering proximity to San Bernandino and materials research at UCR.
A run of chips is around 2.5 million to start. Selling them commercially in the US opens you up to a lot of liabilities too. Chinese companies donโt have to worry about someone getting hurt by one of their machines.
That said. Iโd still like to do it. A silent $20-30 plug and play 1 TH/s machine is along the lines of what Iโm thinking.Getting something simple like that in homes would make a huge difference.
CoinMarketCap.com is LYING to everyone while profiting from it
CoinMarketCap.com is LYING to everyone while profiting fromย it
CoinMarketCap.com, the Number 1 website in the crypto-currency industry, is showing immenselyย fraudulentย and scam information (on purpose) to its users. As a site that is used frequently for reference points by many news organisations, trading outlets, companies, informational sites and individuals, it would be in the best interest of the community to write about what has been really going on with this โtrusted resourceโ.
The research indicates that multiple attempts to fix information by many coins on CoinMarketCap.com through contacting them through their support requests or online social media sites such as BitcoinTalk.org, reddit.com and other places has gone unanswered, ignored and/or explicitly overlooked/denied. By explicitly overlooked/denied, after contacting their support with up-to date and obviously correct information, they refuse to update the data. Manyย hundreds of coinsย on CMC are affected very negatively (or positively) by this. A lot of them have given up trying to get CMC to put correct data on their site, and have made sticky posts in their own respective forums as to this issue instead.
It is believed that there is massive insider trading going on with the employees, owners and others involved with CoinMarketCap. The research, including talking to multiple coin creators, shows anomalous buying of coins between times that the coin creators asked CMC to list their coin (through their google form) and between when it actually gets listed on the site. This could mean that CMC insiders know that certain coins will pump, and go on a buying spree to front-run the listing of the coin and the public market sentiment. This can be seen over and over again when analysing the action on coins when being listed.
Pump and dumps are also being actively allowed and managed by the team at CMC without the knowledge of the coin creators or coin communities themselves. This can be seen by the direct manipulation of the circulating supply of some coins. CMC puts the circulating supply as very high at certain points (increasing the market cap), then drops it down to a much lower number later (lowering the market cap). This moves these coins up or down their numbered list causing massive buys and sell offs at the whim of CMC. Luckily this fraud can only be made to happen once or twice with each coin as the public outcry from the coin communities (sometimes) usually puts an end to it one way or other.
There is also evidence of CoinMarketCap effectively โkillingโ off coins as it sees fit. How does it โkillโ a coin? Well it removes itโs circulating supply to โ?โ or a very low number arbitrarily, and keeps it there for a prolonged period. As the coin goes lower and lower in the rankings, daily volume on the coin dies off until such a time that it is zero (even though the teams behind the coins are still active and growing their ecosystems). This leads to exchanges delisting the coin, and the ecosystem being entirely dead after a period of time. There is plenty of evidence of coin communities complaining and coin creators โbeggingโ CMC to update their information with no luck. CMC literally decides which coin lives or dies with itโs own agendas. In defence of CMC, some coins do lose their circulating supply due to faults of the coins (the data end-points for circulating supply stop working on the servers provided initially by the coins), but many are brought down even with the objections and outcry of the coin creators and communities behind them.
Also of concern is the possible bribery of CMC officials and other nefarious behaviors that could very obviously be extrapolated from their current actions. What if one coin paid a handsome sum to CMC to make sure a โcompetitorโ would have lower market cap? How do you make them have a lower market cap? Easy, refuse to update the circulating supply to what the real numbers are and instead show an arbitrary number of their choosing. This can also be seen on many of the coins listed on CMC. There is ample evidence of coins complaining publicly on many forums yet CMC taking itโs own numbers without any explanation or acknowledgement.
Another area of concern is the outdated/incorrect information of many of the coins listed on CMC. Official coin links being broken or unresponsive, including the main websites, wrong daily volumes (not updated in days or weeks), and hugely different circulating supplies (from those you can officially see on the respective blockchains of the coins themselves) are just some of the additional problems that ring alarm bells with us.
Because of these issues, (and many others including the pseudonymousnature of the founders and team members) we believe it is in the best interest of the entire community to get behind this initiative and make big noise until such a time that CoinMarketCap updates their site to show correct information, or another resource is created/promoted that shows correct and up-to date data on their website. Number 1 can go down to Number 0 very quickly in the space with the right community backlash.
Some may say that these issues may be due to incompetence of the team at CMC or them having limited resources. One of the parts of our analysis will take a much closer look at what kind of income CoinMarketCap really makes. You would be surprised. CMC is one of the most profitable businesses in the entire industry. The user is the product. The ads are the money maker. There are backroom deals, and much more happening beyond the scenes that the public does not know.
Most people here are concerned about centralised mining cartels, hardware producers, banks, governments, regulators and/or core developers being points of issues in this industry. We strongly believe that none of those come even close to comparing to the obvious fraud that has been going on at CoinMarketCap for many years.
The volume of money that is traded on information taken from CMC alone pales every other issue into oblivion. If traders are making buys and sells according to falsified data on CoinMarketCap.com, then they are being manipulated and lied to in one of the biggest frauds in the entire crypto-currency space.
You will be shocked at the level of incompetence, negligence, fraud, and outright lying that CMC perpetuates, but at the lack of information about this so far in this industry. For a community that prides itself on self-regulation through transparency and openness, it should be ashamed at not having blown this massive fraud into the public eye much sooner.
We owe it to the community to make sure resources (especially the Number 1 site in the industry) are not being placed in positions to freely commit fraudon this scale ever again.
This has been a very intense effort in data gathering, reporting and analysis.
List of stuff you can use bitcoin for
” List of stuff you can use bitcoin for
Website – Information
4Chan > do we really need to tell you what this is??
ALFA Top > Top-up your mobile phone with bitcoin or other cryptocurrency
All4btc > Online shop – buy from Amazon, Dell, Ebay, and Lenovo using BTC
Altushost > Hosting service – VPS – dedicated – web hosting – SSL certificates …
Alza > Buy electronic/mobile phones/health&beauty and a lot more (EU based)
Apmex > Buy Gold/Silver/Platinum -Never try,but I think they have good reputation.
Bastone & Co. > Hand made collection shop.
Bit Market > list of store that accept bitcoin in Philippines
Bit Refill > Recharge prepaid phones with Bitcoin
Bit Watches > USA based Luxury watches store.
BitDials > Online shop – Buy watches and jewelry using BTC.
BitGigs > Gigs for bitcoins.
BitPay > bitcoin payment service provider
Bitcoin RealEstate > Buy Real Estate with cryptocurrency – Sell your property for Bitcoin
Bitcoin Travel > Travel agency – Book your flight/hotel using bitcoin.
Bitrefill > Top up your prepaid phone, over 140 countries supported.
CR Servers > Hosting service.
CallWithUs > VOIP service that accepts BTC, pay only for the calls you make! There are no recurring membership fees
CoinPayments > -Payment Gateway -Use them many time for different service.
CoinVet > Coinvet is the groundbreaking new jobs and gigs marketplace where the crowd helps you find the best professionals for your exact needs.
Compusleuth > technical support to recover, restore, search, and produce electronic information (is that still operating??)
Crypto Emporium > offer a huge variety of high-end and luxury goods available for purchase in only cryptocurrency, no fiat.
CryptoGrind > Freelancing platform – Hire a freelancer or work as one, for bitcoins.
Echristopher and sons > Shop online for your jewelry and pay with Bitcoin.
Expedia > Travel agency – provides Hotels, Cheap Flights, Car Rentals & Vacations
Genesis Fire Protection > USA based fire protection company, fire extinguishers and fire suppression systems.
Gray and Sons > Online shop – Jewelry, Watches, and accessories.
Gyft > Buy, Send, & Redeem Gift Cards
HePays > dating website.
Hi-Tech > Computer service provider, website is very bad, probably they’re out of business.
Lamborghini Newport Beach > authorized dealership in Orange County providing Super Sports Cars to Southern California
Microsoft > you can charge your account with BTC
Mint > Finance service, all your finance in single place. “When youโre on top of your money, life is good. We help you effortlessly manage your finances in one place.”
Mosaika > Shop online for your jewelry, and pay with Bitcoin.
My Gemologist > Shop for jewelry, or CREATE your own design, and pay with bitcoin.
Namecheap > Domain Name Registrar
NewEgg > Online shop
OpenBazzar > Decentralized marketplace – Online eCommerce platform that unites buyers/sellers by virtue of the P2P/peer-to-peer network
Overstock > Online shop – designer brands and home goods
Piiko > Send money to your friends and family online or top up while travelling. Almost 600 providers from 137 countries. Pay with Bitcoin, Dash or Stellar at best rates possible.
Pizza for coins > Order Pizza online and pay with BTC
Pure VPN > VPN Service: Access US Netflix Instantly for just $2.87/m Making Security and Freedom Accessible for Anyone, Anywhere!
Purse > Online shop – buy from amazon using BTC and get a discount!
RandyBrito > Freelancer – A web developer with a passion for Bitcoin, Economics and freedom.
Reeds > USA based jewlery – Personally I like their goods (looks only, haven’ bought any yet)
Restaurants list > a map of USA restaurants that accept Bitcoin. (can anyone verify any of them?)
Sad Truth Supply > Pins, Patches, and other accessories for bitcoin.
Save the Children > Charity accepting BTC payment. P.S: probably you’ll need to contact them first to donate in bitcoin.
Silver.ag > Jewelry and Accessories for Bitcoin.
SoftRare > software solutions provider, probably out of business since their website has copyright logo for 2015
SteadyTurtle > Buy Hosting&Domain -I use them for years,great service.
Tanzanite America > North American member of The Tanzanite Authority, a group of like-minded collectors, investors, and who are dedicated to informing and supplying the very finest top quality AAA certified Tanzanite.
XBT Freelancer > Freelancing platform – Hire a freelancer or work as one, for bitcoins.
mclarennb > ย Authorized McLaren Dealer
List of stuff you can use bitcoin for.
Website – Information
4Chan > do we really need to tell you what this is??
ALFA Top > Top-up your mobile phone with bitcoin or other cryptocurrency
All4btc > Online shop – buy from Amazon, Dell, Ebay, and Lenovo using BTC
Altushost > Hosting service – VPS – dedicated – web hosting – SSL certificates …
Alza > Buy electronic/mobile phones/health&beauty and a lot more (EU based)
Apmex > Buy Gold/Silver/Platinum -Never try,but I think they have good reputation.
Bastone & Co. > Hand made collection shop.
Bit Market > list of store that accept bitcoin in Philippines
Bit Refill > Recharge prepaid phones with Bitcoin
Bit Watches > USA based Luxury watches store.
BitDials > Online shop – Buy watches and jewelry using BTC.
BitGigs > Gigs for bitcoins.
BitPay > bitcoin payment service provider
Bitcoin RealEstate > Buy Real Estate with cryptocurrency – Sell your property for Bitcoin
Bitcoin Travel > Travel agency – Book your flight/hotel using bitcoin.
Bitrefill > Top up your prepaid phone, over 140 countries supported.
CR Servers > Hosting service.
CallWithUs > VOIP service that accepts BTC, pay only for the calls you make! There are no recurring membership fees
CoinPayments > -Payment Gateway -Use them many time for different service.
CoinVet > Coinvet is the groundbreaking new jobs and gigs marketplace where the crowd helps you find the best professionals for your exact needs.
Compusleuth > technical support to recover, restore, search, and produce electronic information (is that still operating??)
Crypto Emporium > offer a huge variety of high-end and luxury goods available for purchase in only cryptocurrency, no fiat.
CryptoGrind > Freelancing platform – Hire a freelancer or work as one, for bitcoins.
Echristopher and sons > Shop online for your jewelry and pay with Bitcoin.
Expedia > Travel agency – provides Hotels, Cheap Flights, Car Rentals & Vacations
Genesis Fire Protection > USA based fire protection company, fire extinguishers and fire suppression systems.
Gray and Sons > Online shop – Jewelry, Watches, and accessories.
Gyft > Buy, Send, & Redeem Gift Cards
HePays > dating website.
Hi-Tech > Computer service provider, website is very bad, probably they’re out of business.
Lamborghini Newport Beach > authorized dealership in Orange County providing Super Sports Cars to Southern California
Microsoft > you can charge your account with BTC
Mint > Finance service, all your finance in single place. “When youโre on top of your money, life is good. We help you effortlessly manage your finances in one place.”
Mosaika > Shop online for your jewelry, and pay with Bitcoin.
My Gemologist > Shop for jewelry, or CREATE your own design, and pay with bitcoin.
Namecheap > Domain Name Registrar
NewEgg > Online shop
OpenBazzar > Decentralized marketplace – Online eCommerce platform that unites buyers/sellers by virtue of the P2P/peer-to-peer network
Overstock > Online shop – designer brands and home goods
Piiko > Send money to your friends and family online or top up while travelling. Almost 600 providers from 137 countries. Pay with Bitcoin, Dash or Stellar at best rates possible.
Pizza for coins > Order Pizza online and pay with BTC
Pure VPN > VPN Service: Access US Netflix Instantly for just $2.87/m Making Security and Freedom Accessible for Anyone, Anywhere!
Purse > Online shop – buy from amazon using BTC and get a discount!
RandyBrito > Freelancer – A web developer with a passion for Bitcoin, Economics and freedom.
Reeds > USA based jewlery – Personally I like their goods (looks only, haven’ bought any yet)
Restaurants list > a map of USA restaurants that accept Bitcoin. (can anyone verify any of them?)
Sad Truth Supply > Pins, Patches, and other accessories for bitcoin.
Save the Children > Charity accepting BTC payment. P.S: probably you’ll need to contact them first to donate in bitcoin.
Silver.ag > Jewelry and Accessories for Bitcoin.
SoftRare > software solutions provider, probably out of business since their website has copyright logo for 2015
SteadyTurtle > Buy Hosting&Domain
Tanzanite America > North American member of The Tanzanite Authority, a group of like-minded collectors, investors, and who are dedicated to informing and supplying the very finest top quality AAA certified Tanzanite. (first time to hear of tanzanite to be honest, but they look cool)
XBT Freelancer > Freelancing platform – Hire a freelancer or work as one, for bitcoins.
mclarennb > ย Authorized McLaren Dealer
schwartzkopff>
KFC Canada > Hunger no more, get your KFC for BTC.
Subway restaurant > Eat healthy, with bitcoins too.
CheapAir > Cheap Airline Tickets, Airfares & Discount Air Tickets
Alza > Largest Czech online retailer accepting BTC.
Pembury Tavern > Snap up a pint in Britain’s first Bitcoin pub.
FC Canada > Hunger no more, get your KFC for BTC.
Subway restaurant > Eat healthy, with bitcoins too.
CheapAir > Cheap Airline Tickets, Airfares & Discount Air Tickets
Alza > Largest Czech online retailer accepting BTC.
Pembury Tavern > Snap up a pint in Britain’s first Bitcoin pub. “
Share with ๐ย by Free Spirit
โ & ๐
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- Bitcoin White Paper turn 15Bitcoin white paper turns 15 and the Legacy of Satoshi Nakamoto lives on. โIโve been working on a new electronic cash system thatโs fully peer-to-peer, with no trusted third party,โ Satoshi Oct. 31, … Continue reading Bitcoin White Paper turn 15
Setup Your Own Mining Pool
Setup Your Own Mining Pool
This is a step by step guide on how to setup your own mining pool for things like bitcoin, litecoin, and other crypto-currencies.
This guide is meant to replaceย Noviceโs Guide to Setting up a Crypto-Currency Mining Pool
Why the update? MPOS (Mining Portal Open Source) is very old now and NOMP (Node Open Mining Portal) has branched off into another project called uNOMP (Unified, Node Open Mining Portal). uNOMP has a very active development team and is updated on a regular basis. This not only ensures adequate support of new currencies, but also better security. uNOMP also has many things in one, and is easier to setup then the old MPOS/NOMP hybrid as described in the legacy guide.
I have ran several large mining pool operations, and helped out at several more. The purpose of this guide is to enable more people the opportunity to run their own pool, whether it be for their own miners or just out of curiosity to understand how it all works. This is by no means meant to be a guide so you can setup your own professional mining pool operation. Running your own mining pool that other miners other then yourself will use is not an easy undertaking, and requires extensive systems administration experience as well as a large budget, patience, troubleshooting skills, and a solid knowledge of how crypto-currencies work. This guide will not be going over any security features.
This guide is going over how to setup a uNOMP (Unified, Node Open Mining Portal) pool. This is meant to setup a mining pool for a single crypto-currency. This is not a guide for a multipool.
โข Table of Contents
โข Guide Requirements
โข VPS Setup
โข Update Ubuntu
โข Setup Swap
โข Install Required Packages
โข User Setup
โข Reboot
โข Litecoin Daemon Setup (Wallet)
โข Mining Pool Setup
โข Download and Update uNOMP
โข Main Configuration
โข Pool Configuration
โข Start your Mining Pool
โข Install Forever
โข Conclusion
โข Related
Guide Requirements
VPS with at least 2 Cores, 4GB Ram, 50GB Disk Space and Ubuntu Server 14.04 x64 (I usedย Vultrย for this guide)
Putty
WinSCP
Very basic knowledge of Linux
While writing this guide I was using aย Vultr Cloud Serverย Yes, those are referral links that we benefit from if you sign up.
If you are setting up a bitcoin pool, you will need more then 50GB of disk space because the blockchain is very large.
I am using a Windows 10 based PC, and communicate with the VPS using Putty and WinSCP.
This guide will probably take you a long time, especially if you are new to Linux. I highly suggest you be patient, and take it one step at a time.
This guide is meant for novices. If you are already an experienced systems administrator then head on over to theย uNomp Githubย and follow their directions.
A lot of these commands will seem very redundant, especially all the blank โcdโ commands. Since everything is split up into different sections, sometimes readers can loose track easily. Blank โcdโ commands can put them on track and get them into the right directory.
I will be using Litecoin (scrypt), I will not be going into specific of how to host something like dash (x11) or other algorithms. After you understand the basic concept of how uNOMP works, you will later realize it is not hard to change algorithms.
If you have the ability to snapshot your VPS, then I suggest you do that every time you complete a step. It will save you a lot of time if you make a mistake.
All shell commands will be surrounded with a code box like this:
shell command
Information I want you to insert into a file, or somewhere else will be surrounded with a block quote box like this:
info for a file
VPS Setup
At this point you should have your VPS started, putty up and running and your logged in as root.
Letโs go ahead and setup the VPS before we get into the meat and potatoes.
Update Ubuntu
apt-get update
apt-get dist-upgrade
Setup Swap
By default there is no swap setup on my VPS, it is required especially on a system with limited memory. I am setting up a 4GB swap, which is the most common swap size used for a VPS.
dd if=/dev/zero of=/mnt/myswap.swap bs=1M count=4000
mkswap /mnt/myswap.swap
swapon /mnt/myswap.swap
Now letโs add it into fstab so it will activate at boot.
nano /etc/fstab
Add the following line at the end of the file.
/mnt/myswap.swap none swap sw 0 0
Should look something like this:
Ctrl+O to save, and Ctrl+X to exit the nano editor.
Now your swap is setup, you can modify the size in the future if you need more or less.
Install Required Packages
apt-get installย build-essential libtool autotools-dev autoconf pkg-config libssl-dev
apt-get install libboost-all-dev git npm nodejs nodejs-legacy libminiupnpc-dev redis-server
add-apt-repository ppa:bitcoin/bitcoin
apt-get update
apt-get installย libdb4.8-dev libdb4.8++-dev
curl https://raw.githubusercontent.com/creationix/nvm/v0.16.1/install.sh | sh
source ~/.profile
nvm install 0.10.25
nvm use 0.10.25
All required packages are installed, we may have to hit a few more later but for right now you are good.
User Setup
You never run things like your coin daemon (wallet), or other things as root!
Letโs create a user for your mining pool.
As root type:
adduser usernameyourwant
Use whatever username you want, I will be using โpoolguideโ for this guide just because it is simple.
Do not use the sample username I use, think of your own for security purposes.
You will be prompted for a password, please use a password that is different from your root password.
The other info it asks for you can either fill out or just leave blank and hit enter.
Now let us give that new user sudo access:
adduser usernameyousetup sudo
Reboot
A lot has been done to the VPS. Let us go ahead and reboot it as a good, safe practice.
reboot
That is it for the VPS setup, letโs move on.
Litecoin Daemon Setup (Wallet)
Now letโs setup the coin daemon, I will be using Litecoin.
Boot up putty and login to that new user we setup earlier.
cd
git clone https://github.com/litecoin-project/litecoin.git
Now letโs compile litecoin.
cd litecoin
sudo ./autogen.sh
sudo ./configure
sudo make
sudo make install
The compile process will take a long time, especially if you have a small VPS with only 1 or 2 vCores. Once you do the command โsudo makeโ I highly suggest you take a break or whatever it is you need to do, because it will be a moment until you are ready to do the next command.
Now letโs go ahead and run litecoind (the daemon) so it will create the .litecoin directory in your users home dir.
cd src
./litecoind
You will get a message stating there is no configuration file, and they suggest such and such rpc user/pass. We are getting to that.
Now we need to setup the config file for the litecoind.
I am going to start using WinSCP to edit/add files, yes you can use nano, gedit, vim, or whatever shell based text editor you want instead. However, when a novice starts editing as many files as we are about to edit it will be easier for them if they use graphic interface for all of it. It will also help a novice understand the file structure better.
You can get WinSCP here:ย http://winscp.net/eng/download.php
I will walk you through WinSCP with this litecoind config file, but after that you should be able to use it easily if I just list out what directory you need to go to. You will see here shortly.
Once you install WinSCP, you should be prompted with a login screen.
Select โNew Siteโ
โFile Protocolโ will be SFTP
โHostname:โ is your VPS IP
โPort numberโ is your ssh port that you have been using with putty
โUser name:โ will be root
โPassword:โ is your root password
Fill all that out and it should look like this (with your server info in there):
Click login, make sure to accept the host key.
Now that you have logged in, you are in the /root folder. Double click the โ..โ to back out of it.
The file path is /home/username/.litecoin
Click on the โhomeโ folder.
Click on the folder that is named after your username.
Click on โ.litecoinโ it will be grayed out like such:
Right click on the white area in WinSCP and Go to โNewโ and โFileโ. Should look like this:
Name the file โlitecoin.confโ
A white text editor window should pop up, this is WinSCPโs internal editor and what we will be using to edit files.ย Now weโll want to put some basic stuff into the configuration file. You should definitely use a different username and password then that I use in the guide. I am just using the ones that litecoind generated for me already.
rpcuser=litecoinrpc
rpcpassword= wdYMsDT4E61jCv8xx6zZd6PYF3iZkjD7t3NpuiGpn6X
rpcallowip=127.0.0.1
rpcport=2300
daemon=1
server=1
gen=0
I understand that some of these .conf settings are redundant for litecoin, however in the past I have ran into certain crypto-currencies that did not allow localhost to connect, etcโฆ Just thought this was the best overall config for a multitude of scrypt coins since the users following this guide are probably not setting up a litecoin pool. I also changed the rpcport, which is just a simple security measure I like to take.
If you are setting this up for a PoS (Proof of Stake) currency ensure that you put โstaking=0โ into the config otherwise your miners may not be able to withdraw their matured coins if they start staking.
The default listen port for litecoin is 9333.
Now that you have updated the litecoin.conf file, go ahead and click on the floppy disk icon in the top left of the WinSCP Editor.
Now that we have setup and saved the config file, letโs get back into ssh (putty) on your user that you created earlier.
cd
cd litecoin/src
./litecoind
You should get a message that states โLitecoin server startingโ if for some reason you canโt get out of that command simply press Ctrl+C in putty and itโll fix it.
Now letโs make sure itโs updating.
./litecoin-cli getinfo
You should see a bunch of info that looks like this:
Run that getinfo command several times, and you should see the โblocksโ number updating everytime you run that getinfo command.
The wallet should be fully updated by the time this guide is over, however if you are quick or unsure simply run the getinfo command again and compare the block number toย http://explorer.litecoin.net/ย if the block number matches whatโs on that site then you are good to go.
Now let us set the crontab so that the litecoin daemon (litecoind) will always start on boot.
crontab -e
Select โ2. /bin/nano <โ- easiestโ
Use your arrow keys to scroll down to the bottom of the crontab.
Add this line below the # symbols.
@reboot ./litecoin/src/litecoind
Should look something like this:
Press Ctrl + O to save and Ctrl + X to exit
The Litecoin daemon will now start on boot.
Last thing we need to do is get a new address for our litecoin wallet.
./litecoin-cli getnewaddress
An address will show up, please keep record of this address. We will be using it later in the guide.
Mining Pool Setup
Now we are at the part you have been waiting for, actually setting up the mining pool. As mentioned earlier we will be usingย uNOMPย for this. uNOMP already has the stratum server, webpage, payout system, and much more built into it.
You should have Putty and WinSCP up and running, you are logged in as your new username on Putty and root on WinSCP.
Download and Update uNOMP
cd
git clone https://github.com/UNOMP/unified-node-open-mining-portal.git unomp
cd unomp
sudo npm update
Main Configuration
cd
cd unomp
cp config.json.example config.json
Now letโs open up WinSCP.
Navigate to /home/username/unomp
Right click on config.json and select edit
Find โwebsiteโ:
Underneath website, find โhostโ: and change the โ0.0.0.0โ, to your VPS IP
Save It!
Here is a picture example, what I had you changeย is highlighted in yellow.ย I used a fake IP but please use your actual IP.
The rest of the default settings in the config.json will work, however it is recommended you open it up on WinSCP after this guide is over and change things like your site title, admin password, stratum host, etcโฆ For right now we will be using the default config settings to make the guide easier to follow.
Pool Configuration
Your asking, what do you mean by pool configuration? I thought we were doing that! Well yes, you are. However, the way the uNOMP works you can have multiple pools running on one instance. For this pool configuration portion of the guide you will be setting up the Litecoin pool. So if you want another pool for your currency of choice in the future, you can add another pool config into the pool_configs folder and you will have another pool running for a different currency (as long as you setup the coin daemon, make sure the coin.json is in unomp/coins/ and the settings are correct in the pool config).
cd
cd unomp/pool_configs
cp litecoin.json.example litecoin.json
Now letโs open up WinSCP.
Navigate to /home/username/unomp/pool_configs
Right click on litecoin.json and select edit
Find โenabledโ and change it to true,
Find โauxesโ: and delete everything inbetween the [ ย ], if you do not understand there will be pictures below.
Find โaddressโ: and place that address we saved earlier from the litecoin daemon setup.
Find โpaymentIntervalโ: and change it to 30,
Find โminimumPaymentโ: and change it to 0.01,
Find โdaemonโ: and underneath it find โportโ: and change it to the user from your litecoin.conf (see litecoin daemon setup)
Find โuserโ: and change it to the password from your litecoin.conf (see litecoin daemon setup)
Find โpasswordโ: and change it to the password from your litecoin.conf (see litecoin daemon setup)
Scroll down to โdaemonsโ: after ports and configure your litecoin daemon (same info as the past 3 steps)
Save It!
Here are picture examples, everything I had you change is highlighted in yellow.
Start your Mining Pool
Now itโs time to start everything up, fingers crossed!
cd
cd unomp
sudo node init.js
If you got an error somewhere, the first thing I suggest is while in the unomp directory, do a quick โsudo npm updateโ then try again. If it does not work, then read through the guide again and try to spot any mistakes. If that does not work, then use a search engine to lookup your error. Odds are there is a solution for it on github or somewhere else.
Now letโs see if your webpage is working, use your web browser and go toย http://yourvpsip
Now fire up your miner, I am not going to go into specifics about setting up cgminer or what have you. If you donโt know how to setup a miner, you probably should of researched that long before you attempted to setup your own pool.
Details for your miner:
stratum+tcp://yourvpsip:3032
-u ltcpayoutaddress
-p anything
Open up SSH Terminal (Putty) that you used the command โsudo node init.jsโ in. You should see that your LTC address was authorized, should look something like this:
Overtime you will see accepted shares. You can also look at the statistics on your uNOMP webpage.
Now that you verified everything is working, go ahead and open up the Putty window again and โCtrl + Cโ to stop the pool for the time being.
Install Forever
Forever will make it so you can start a nodejs application (unomp for instance) and close your SSH client (Putty) and it will still remain running.
cd
cd unomp
sudo npm install forever -g
Forever is now installed, now letโs run your pool.
sudo forever start init.js
You can now close out of Putty and your pool will keep on running.
You may want to read up on forever on their github page,ย https://github.com/foreverjs/forever. You can use forever to log all outputs of uNOMP, which will make life much easier if you run into an issue later on. You can simply read the logs and find the error.
If you want to stop uNOMP, simply go to the unomp directory again as your user and type:
sudo forever stop init.js
Conclusion
Congratulations if you completed this guide successfully, it is not an easy task especially if you are a novice with mining pools and linux. Remember that the best way to learn something is just to mess with it, and see what you can do. Push your mining pool to itโs limits, edit the software, mess with the database, etcโฆ These things will make you more knowledgeable. I did not get to where I am at from simply following guides.
You can edit the actual uNOMP website by going to /unomp/website/. If you have a basic knowledge of HTML you should have no issues, the website is still in early development. Please remember that this guide has not gone over the security aspect whatsoever. You need to secure your VPS! There is plenty of guides about this on the internet.
If you have any issues, please review the guide again and make sure you have not missed anything before you start asking questions. It is a huge guide and you can easily miss a step. Also, search engines are your friend.
I get asked a lot about what sort of server power is required to run a mining pool. Based off of the scrypt algorithm, you want about at least 1 CPU Core and 1GB of Memory per 1 GH/s to be on the safe side. This is not including at least 1 CPU Core and 1GB minimum to run your frontend (website), which will also fluctuate depending on the amount of traffic. Internet connection wise, you want at least a 10Mbps port. Most VPS or Servers that you can rent usually have at least a 100Mbps port now-a-days. I would highly recommend SSD drives, especially if you plan on going over 1 GH/s on your pool. Mining pools love to use a lot of IOPS.
I would like to thank the developers that made ย uNOMP. I had to cross-reference their guides multiple times to make this one. Please check them out on Github, and donate to them if you are using their software.
uNOMP.org
uNOMP Github
You are free to use my guide whichever way you want, just please give credit to my site BlockGen
ALT coin Stores and Services List
Are you a merchant who wants to accept Altcoins?
coinpayments – Payment Processor for merchants
– https://coinpayments.net
Stores selling goods :
NexWave – http://www.nexwave.ca
– Coin payments processed :
Coaex – Buy custom gold bars, gold bullion, silver and jewelry
– http://www.coaex.com/
– BTC, LTC, DOGE, BC, NOBL, FTC
CoinCable Mining Supplies
– https://coincable.com
– BTC, LTC, PPC, NVC, XPM, YAC, PayPal Passthru
BitClit (18+)
– http://www.bitclit.com
– BTC, LTC, FTC, NMC, BQC, CGB, DVC, GLD
Crypto Coin Wallet Cardsย ย ย
–ย http://www.cryptocoinwalletcards.comย ย ย
– LTC
Register domain using Bitcoin and Litecoinย ย ย
–ย http://www.lovingdomains.comย ย ย
– BTC, LTC, NMC, PPC, NVC
Pay hosting with Bitcoin and Litecoinย ย ย
–ย http://www.lovinghosting.comย ย ย
– BTC, LTC, NMC, PPC, NVC
Amazonia Imports
– http://btcpipeshop.com
– 42, ANC, BTC, BC, BQC, CAT, CGB, DGC, DMD, DOGE, DVC, FRC, FRK, FST, FTC, GLD, LTC, MAX, MZC, MEC, NET, NMC, NVC, NXT, PPC, QRK, RED, SBC, SPT, STR, SXC, TRC, UNO, WDC, XPM, & ZET
Survival Supplies :
ๆจชๅฑฑๅ ่ผ ๆฐดๆปธไผ ๆผซ็ป
BTC, LTC, FTC, NMC, NVC, TRC, XPM, KGC, RED, ORB, BQC, CGB, DVC, CAP, DGC, GLD, YAC, QRK, ZET
NewsBam Usenet Services
– http://www.newsbam.com
– BTC, LTC, STR, FTC, NMC, PPC, NVC, WDC, TRC, XPM, IFC, KGC, RED, ORB, BQC, CGB, DVC, CAP, DGC, GLD, YAC, SXC
Cryptobooks – Buy eBooks with with cryptocurrency
– http://www.cryptobooks.com
– BTC, LTC, FTC, PPC, DVC, SXC
Bitezze – Buy precious metals with cryptocurrency
– http://bitezze.com
– BTC, LTC, STR, FTC, NMC, PPC, NVC, WDC, TRC, XPM, IFC, KGC, RED, BQC, CGB, DVC, CAP, DGC, GLD, YAC, SXC, ADT, MEC, ANC, ZET, NET, PayPal Passthru
CryptoDirect
– http://www.cryptodirect.cf
– BTC, LTC, FTC, PPC, NVC, WDC, XPM, IFC, DGC, ANC, QRK, ZET, NET, FRC
Cheap Miners – Cheap ASIC miners and accessories
– http://www.cheapminers.com
– BTC, LTC, XPM
Dahms Weinversand – German Wine Home Delivery
– http://www.dahms-weinversand.de
4:19 Store
– http://www.419store.com
Crypto Game Keys
– http://www.cryptogamekeys.com
– BTC, LTC, NMC, PPC, NVC, WDC, XPM, IFC, KGC, RED, ORB, BQC, CGB, DVC, CAP, DGC, GLD, SXC, ADT, MEC, QRK, ZET, NET, FRK, COL, SBC
VPS City
– http://www.vps-city.com
– LTC, PayPal Passthru
Thermostats, actuators and controllers
– http://www.thermostatenshop.nl
– BTC
Electric heating appliances
– http://www.budgetheat.eu
– BTC
Romer and 2HEAT far infrared panels
– http://www.infraroodpanelen.eu
– BTC
Outdoor- and ramp heating
– http://www.opritverwarmingen.eu
– BTC
Ceramic heating elements
– http://www.keraheat.com
– BTC
Distinguished Imports
– https://distinguishedimports.com
– BTC, LTC, PPC
GameCardVN
– http://gamecardsvn.com
Verbena Products – Family owned online store specializing in bringing our customers high end Health and Beauty products at very competitive prices.
– https://www.verbenaproducts.com
– BTC, LTC, PPC
Cryptocoin Stuff!
– http://www.cryptocoinstuff.com
– BTC, LTC, FTC, NMC, PPC, NVC, WDC, TRC, XPM, IFC, KGC, RED, ORB, BQC, CGB, DVC, CAP, DGC, GLD, YAC, SXC, ADT, MEC, ANC, QRK, ZET, NET, FRK, COL, SBC, FRC
Retro Towers
– http://www.retrotowers.co.uk
– BTC, LTC, FTC, NMC, PPC, NVC, WDC, TRC, XPM, IFC, KGC, RED, ORB, BQC, CGB, DVC, CAP, DGC, GLD, YAC, ADT, MEC, ANC, QRK, ZET, NET, FRK, COL, SBC, FRC
VPS4ME
– http://vps4.me
– BTC, LTC, FTC, NMC, NVC, WDC, TRC, XPM, IFC, KGC, RED, BQC, CGB, DVC, CAP, DGC, GLD, YAC, SXC, ADT, MEC, ANC, QRK, ZET, NET, FRK
HostClub
– http://hostclub.me
WaterIdo – Healthy Water Revitalizer
– http://waterido.com
– BTC, LTC, FTC, NMC, PPC, NVC, WDC, TRC, XPM, IFC, KGC, RED, BQC, CGB, DVC, CAP, DGC, GLD, YAC, ADT, MEC, ANC, QRK, ZET, NET, FRK, COL
Sarasota Slot Machines
– http://sarasotaslotmachines.com
– BTC, LTC, IFC, MEC, PayPal Passthru
GRKreations Direct
– http://grkreationsdirect.com
– BTC, LTC, FTC, NMC, PPC, NVC, WDC, TRC, XPM, IFC, KGC, RED, BQC, CGB, DVC, CAP, DGC, GLD, YAC, SXC, ADT, MEC, ANC, QRK, ZET, NET, FRK, COL, SBC, FRC, PayPal Passthru
Mining Hardware
– http://www.mininghardware.co.uk
– BTC, LTC
DuinoBits – Arduino kits (UK & Europe)
– http://www.duinobits.com
– BTC, LTC
Johnsbay Flooring Co. – Flooring Material including Carpeting, Wood flooring, Laminate, Tiles.
– http://www.johnsbay.com
– BTC
Hash Rate Store
– https://www.hashratestore.com
– BTC, LTC
Coin Gas – Steam game codes for alt coins
– http://www.coingas.com
– BTC, CAP, DGC, FTC, GIL, LTC, NVC, PPC, WDC, CGB
sauce4coins
– http://sauce4coins.com
– BQC, BTC, LTC, BTB, CGB, FTC, CAP, VNC, DGC, XPM (and others if you email them)
BottleCaps Store – Itunes cards and World of tanks tokens
– http://bottlecapstore.weebly.com
– CAP’s and LTC – Canadian Orders for Itunes only
cryptosextoys
– http://www.cryptosextoys.com
– BTC, CAP, DGC, FTC, LTC, NVC, PPC, CGB, SXC
dailybit – Daily special something new everyday
– http://dailybit.net
– BTC, LTC, XPM, FTC,CAP, IFC, WDC, NVC, NMC, TRC, KGC, PPC, RED, STR, WDC, Peercoins and Paypal
REDCOINSHOP – Herbal pills remedies
– http://REDCOINSHOP.com
– RED
pythonpills- Male enhancement pill
– http://pythonpills.com/red
– RED
bitcoinprbuzz – Press Release services for crypto projects – Copy Writing and content creation – Business consulting
– http://bitcoinprbuzz.com
– BTC, DVC,BTC, CGB, LTC and FST
finite by design – Coins, Pendants etc
– http://www.finitebydesign.com
– CGB
cryptothrift – Online Thrift Shop
– https://cryptothrift.com
– BTC, LTC
Litehosting- Web Hosting
– http://Litehosting.org
– BTC, LTC, NMC, XPM
ltcasics – All kinds of gift cards
– http://ltcasics.com
– LTC
Altcoin TIP
– http://reddit.com/r/ALTcointip
– BTC, LTC, PPC, NMC, FTC, and XPM
DirectVoltage – alternative energy retailer
– http://DirectVoltage.com
– BTC, LTC, FTC, PPC
Sex Stories
– http://erotica4sxc.tk/about-2
– SXC
Porn Database
– http://www.porndatabase.co.uk
– SXC
3D Porn
– http://www.lynortis.com/alt-coins.php
– SXC
coinaxis
– https://coinaxis.com/
– LTC
dvc4giftcards – Giftcards
– http://dvc4giftcards.us
– DEV
Bitcora – Bitcoin templates and themes
– https://bitorca.com
Epawnatl- Pawn Shop
– http://Epawnatl.com
– FRK, BTC
Etsyshop
– http://www.etsy.com/shop/InnovoDesign
– DOGE, IFC, COL,LTC
Open Source Solutions
– http://www.iquidus.co.nz
– BTC, MEC, LTC, Earthcoins
LEALANA PHYSICAL LITECOINS…and BITCOINS
– http://www.lealana.com
– LTC
Evonym
– http://evonym.us/
-BTC, LTC, TRC, PPC.
Minecraft Server
– https://alt-co.in/minecraft/
– GME
Sexslam
– http://sexslam.com
– RED
All Things Luxury
– http://www.allthingsluxury.biz/
– BTC, LTC
7 Pay In – Pay for mobile and ISP services/ecash/WoT/Steam/whatever
– https://7pay.in/
– BTC, LTC, CL and NVC
CryptFolio – CryptFolio lets you keep track of your cryptocurrencies
– http://CryptFolio.com
– BTC, LTC, CGB, XPM, paypal
Tagbond.com – Merchant site hosting
– http://tagbond.com
– BTC, TAG
– LTC
– BTC, LTC
Dog Training – French pet dog trainer and behaviorist.
-www.psychodog.eu and www.psychodog.be
-DOGE
– EAC
BitCoinPINS!!
– http://www.bitcoinpins.com/
– EAC
Polish SEO company
– http://dodawanie.com/
– EAC
FlightSchool! Commercial pilot and flying instructor
– http://www.paul-bradley.com
– EAC
ribbit.me
– http://ribbit.me
The list is always changing as the sites can go down or new ones might apear !!!
Mining Profitability Formula

Yes the profitability changes second to second with the price of bitcoin and you cant use this information to forecast…
Reward = ((HashRate * Block_Reward) / Current_Difficulty) * (1 – Pool_Fee) * 3600
BTC total daily payout is 6.25 BTC * 6 times per hour * 24hours…on average = 900 BTC mined every day.ย
That has to be spread out, on average, evenly across then ENTIRE network.ย Granted, luck is involved, so it isn’t exactly even, but on average, it should be.
If network is running at 17,608,758 TH/s, and every TH gets an even share of the reward, then that would be 1800BTC / 17,608,758 TH/s = .00010222 BTC/(TH/s).
You then take that figure and multiply by number of TH for miner, and then you get daily BTC revenue ; )

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DEX: Decentralized Exchanges List
DEX: Decentralized Exchanges List
โข AirSwap
AirSwap is a token exchange platform that can be used to trade or convert Ethereum based assets and ERC20 tokens.
AirSwap allows for much of the trading activity to take place off-chain and operates faster than blockchain-only based exchanges.
AirSwap is currently compatible with MetaMask or Ledger
https://coincodex.com/crypto/airswap/
โข Altcoin.io
DEX powered by Plasma. (smart contract on the Ethereum network which locks value and provides proof of locked value (i.e. tokens) to a sidechain.)
โข Barterdex
DEX powered by Atomic Swaps technology (Currently in Beta phase)
โข Bancor Protocol
Bancor is a decentralized liquidity network that allows you to hold any token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.
โข Bisq
Bisq is an open-source desktop application that allows you to buy and sell bitcoins in exchange for national currencies, or alternative crypto currencies
โข Blocknet
Blocknet empowers the passionate communities behind every coin with atomic swaps on a truly decentralized cross-blockchain platform.
Blocknet serves as a connector between blockchains, markets, and communities
โข Catalyst
Catalyst is an algorithmic trading library for crypto-assets written in Python. It allows trading strategies to be easily expressed and backtested against historical data
โข Etherdelta
decentralized trading platform for [Ether](https://ethereum.org) and [Ethereum-based tokens]
โข Forkdelta
ForkDelta is a decentralized Ethereum Token Exchange with the most ERC20 listings of any exchange.
ForkDelta currently acts as an open source, updated interface for EtherDelta’s smart contract with an active and public development team
โข Gnosis Dutch Exchange
Decentralized exchange for ERC-20 tokens based on the Dutch auction principle
โข Herdius
Herdius intends to build a new infrastructure layer on top of all blockchains. Through our vertically scalable chain and distributed virtual wallet network, Herdius aims to tackle identity & interoperability as well as create a crypto asset agnostic decentralized exchange
โข Hodl Hodl
Hodl Hodl is a P2P cryptocurrency exchange that allows users to trade directly with each other and it doesn’t hold user’s funds โ locking it in multisig escrow instead โ which minimizes the possibilities of crypto assets theft and reduces trading
โข IDEX
IDEX is a decentralized exchange for trading Ethereum (ERC-20) tokens. IDEX combines the speed of centralization with the security of blockchain settlement.
โข KyberNetwork
IDEX is a decentralized exchange for trading Ethereum (ERC-20) tokens. IDEX combines the speed of centralization with the security of blockchain settlement.
โข Legolas
LGO Exchange incorporates a decentralized ledger within its proprietary centralized platform in order to neutralize front-running and guarantee the unalterability, temporality, and transparency of the order book
โข Loopring
With Loopring, traders will have complete and total control of their crypto-assets. This means there is no need to go through the pesky and risky process of depositing money to centralized/custodial exchanges.
โข Waves
No, Governments Canโt do a Better Job Developing Crypto
No, Governments Canโt do a Better Job Developing Crypto
Would a state-backed cryptocurrency be better than its decentralized counterpart?
International media has already rolled out their opinions on the matter. Itโs a YES-IT-CAN.
The opinions find theirย inspirations in comments made byย Christine Lagarde last week. The head of the International Monetary Fund (IMF) said that a government-backed cryptocurrency would eliminate the issues of trust that have clogged the decentralized cryptocurrencies like Bitcoin.
New York Times reacted to the IMF chiefโs remarks, calling it โa hopeful sign for digital tokens,โ while predicting it could โhave a chilling effect on existing, nongovernmental tokens.โ
The Guardian offered its editorial space to a long-time Bitcoin critic and economist Nouriel Roubini to furtherย his plan. He outrightย called cryptocurrencies worthless when compared to central bank digital currencies (CBDC).โIf a CBDC were to be issued, it would immediately displace cryptocurrencies, which are not scalable, cheap, secure, or [actually] decentralized,โ Roubini claimed.
The comments mentioned above appear at a time when the cryptocurrency market cap has plunged by more than 70 percent since its all-time high.ย
It has allowed critics to jump to the conclusion that decentralized digital currencies, mainly Bitcoin and Ethereum, have no intrinsic value, that they are highly speculative unlike central-bank issued fiat money.
Yet, critics have ignored the whys and whats that prompted the launch of decentralized assets at the first place.
They have been unable to respond to how Federal Reserve stimulus programmes, secret bailouts, and money production have destroyed the value of the US Dollar.
Their focus has turned more towards proving Bitcoin as a sugar-coated false promise of a financial revolution while ignoring the very bads of the existing financial system.
Economy believes that an assetย has value when it checks scarcity and utility.
The US Dollar lacks scarcity, for its supply is governed by a centralized body called Federal Reserve. There is no check on how many dollars would get printed, allowing insiders to manipulate a greenback-backed market on their whims.
Bitcoin, on the other hand, has a set cap of 21 million tokens. Its supply is governed by mathematical algorithms, meaning no corrupt human involvement would be able to topple it.
As far as the use-cases are concerned, Bitcoin has been constantly looked at for its potential of becoming a store-of-valueย asset like Gold, while being constantly considered for settling cross-border payments despite its price volatility.
The critics then say that bitcoin has no intrinsic value.
But even gold and paper money suffers from the same stigma.
According to the World Council, only 15 percent of the global Gold supply is used in industrial applications. The rest goes into making bars, bullions, and jewelry โ mainly because people trust they have value.
Trust is the Only Factor
The launch of Bitcoin was a response to a global financial crisis in which โ letโs accept it โ banks had f***ed up the economy.
The digital currency โ more or less โ follows the philosophy of the Austrian Monetary Theory.
According to it, money can be sound only when its supply is limited. It believes that money should not be controlled by the state.
These facts are missing from the reports and opinion pieces of anti-Bitcoin economists.
The Federal Reserve and central bankers believe that only they have the right to print money.
Bitcoin is only a beginning towards breaking the myth.
As long as the central banks do not innovate and protect people against currency inflation โ as evident in the case of Zimbabwe and Venezuela โ there is no chance they would be able to outrun crypto.
People need to trust their banks, but mainstream media and economists are avoiding a broader discussion.
The next financial crisis should bring more evidence to the theory. No rush.
Shared with ๐ by Free Spirit
โ & ๐
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BitHouse LLC

BitHouse LLC is a client โ focused and result driven CryptoCurrency Consulting and Mining Company that provides broad โ based services at an affordable fee to our clients .
We will ensure that we work hard to meet and surpass our Clientsโ expectations whenever they hire our services for Consulting or mine bitcoin.
At BitHouse LLC, our Clientโs best interest always come first and foremost, and everything we do is guided by our high values and professional ethics.
Services
Cryptocurrency Consulting
General cryptocurrency advice, reviews and due diligence on tokens, blockchain projects, general investment advice and trading strategy.
Security and putting processes in place to backup your crypto.
Cryptocurrency Mining & Staking
Setup and advice on Cryptocurrency mining rigs. Mining does not just include Bitcoin, there are numerous other options to mine, including other tokens, rigs that provide processing power and storage.
Masternodes
Nodes are a great way to generate cryptocurrency, similar to mining just without the expensive hardware.
Setting up and running a node is not straight forward, we can help.
Proof of Stake / Staking Wallets
Just like mining, storing your cryptocurrency in a wallet that is connected to the blockchain can generate you more crypto of that same token.
If you own POS coins and arenโt staking you are missing out on ROI.

“Better a diamond with a flaw than a pebble without.”
Diamond with a flaw
Confucius
“Try not to become a man of success. Rather become a man of value.”
Man of Value
Albert Einstein
“If you don’t know what you want, you’ll never find it.
If you don’t know what you deserve, you’ll always settle for less.
You will wander aimlessly, uncomfortably numb in your comfort zone, wondering how life has ended up here.
Life starts now, live, love, laugh and let your light shine!”
Let your light shine
Rob Liano
“A person’s worth is measured by the worth of what he values.”
Values
Marcus Aurelius, “Meditations”
“Mathematics expresses values that reflect the cosmos, including orderliness, balance, harmony, logic, and abstract beauty.”
Mathematics
Deepak Chopra
“Every job from the heart is, ultimately, of equal value.
The nurse injects the syringe; the writer slides the pen; the farmer plows the dirt; the comedian draws the laughter.
Monetary income is the perfect deceiver of a man’s true worth.”
Job from the Heart
Criss Jami, “Killosophy”
“A person that does not value your time will not value your advice.”
Orrin Woodward
Value your time
“Once you embrace your value, talents and strengths, it neutralizes when others think less of you.”
Rob Liano
Embrace your Values
“Bad times have a scientific value. These are occasions a good learner would not miss.”
Ralph Waldo Emerson
Bad times
“I say no wealth is worth my life.”
Homer, “The Iliad”
Life
“But what’s worth more than gold?
Practically everything.
You, for example.
Gold is heavy.
Your weight in gold is not very much gold at all.
Aren’t you worth more than that?”
Terry Pratchett, “Making Money”
You are worth more than gold
“Knowledge is like money: To be of value it must circulate, and in circulating it can increase in quantity and, hopefully, in value.”
Louis L’Amour, “Education of a Wandering Man”
Knowledge
“ร, Sunlight! The most precious gold to be found on Earth.”
Roman Payne
Sunlight
“Knowledge is like money: To be of value it must circulate, and in circulating it can increase in quantity and, hopefully, in value.”
Louis L’Amour, “Education of a Wandering Man”
Knowledge
“If life โ the craving for which is the very essence of our being โ were possessed of any positive intrinsic value, there would be no such thing as boredom at all: mere existence would satisfy us in itself, and we should want for nothing.”
Arthur Schopenhauer, “The Vanity of Existence”
Existence
“Our sole purpose on this earth is to add value to others.
It doesnโt make sense to just exist in people’s lives or to be a drain on them, does it?”
Rob Liano
Sole purpose
“Value judgments are destructive to our proper business, which is curiosity and awareness.”
John Cage
Curiosity & Awareness
“We set no special value on the possession of a virtue until we percieve that it is entirely lacking in our adversary.”
Friedrich Nietzsche, “Human, All Too Human: A Book for Free Spirits”
Virtue
“Maybe you had to come close to losing something before you could remember its value.
Maybe we enjoy the last minute struggle as it slips through our hands.”
Suraj Sani
Struggle
“Always remember that the minority dictates the prices, and the majority governs the value.”
Naved Abdali
Minority vs. Majority
“It is impossible to say whether an asset class valuation is cheap or expensive in isolation.
The valuation of an asset is relative to the valuations of all other assets.”
Naved Abdali
Valuation of an Asset
“Market quotes change every second, but business evolves steadily.
You have ample time to evaluate a business to buy or not to buy.
There is no rush.”
Naved Abdali
Evaluate
“The number one reason people lose money in investing is because they buy assets without giving any thought whatsoever to the fair value.”
Naved Abdali
Fair Value
“If investors do not know or never attempt to know the fair value, they can pay any price.
More often, the price they pay is far greater than the actual value.”
Naved Abdali
Actual Value
“Watching every tick up and every tick down is just wasting your valuable time.
Do yourself a favor, and pick up a book or two about investing each month.”
Naved Abdali
Pick up a book
“An ounce of gold will always be an ounce of gold regardless of the length of possession.
The short-term value will go up or down, but gold prices will follow the general inflation rate in the long run.”
Naved Abdali
General Inflation Rate
“A Collectibleโs value is primarily based on the emotions and the perception of potential buyers.”
Naved Abdali
Emotions & Perception

- International payment using the radio wavesIn a first, Bitcoin developers have done something amazing amid the criticism over the lightning network and issues associated with it. A team of developers has made an international payment using the radio … Continue reading International payment using the radio waves
- Happy New Year !!!!Happy New Year!May the coming year be full of grand adventures , peace, prosperity and opportunities.Dream big and make the most of 2024!
- Discipline QuotesMy inspiration for this page was given to me by my new aquired friend, a fellow Truth Seeker – Joris and to whom I dedicate this page… Wish you… as well as to … Continue reading Discipline Quotes
- Merry Christmass and A Happpy New Year to allTo all my readers from the bottom of my heart I wish you Happy Holiday among family and friends, a jolly Merry Christmas and a Happy New Year and may 2024 bring you … Continue reading Merry Christmass and A Happpy New Year to all
- Bitcoin White Paper turn 15Bitcoin white paper turns 15 and the Legacy of Satoshi Nakamoto lives on. โIโve been working on a new electronic cash system thatโs fully peer-to-peer, with no trusted third party,โ Satoshi Oct. 31, … Continue reading Bitcoin White Paper turn 15






