Category: #CryptoCurrency

What is Hashrate ?

Hashrate

Hashrate Bitcoin network h/s
Bitcoin Hash Rate

Hashrate (Hash per second, h/s) is an SI-derived unit representing the number of double SHA-256 computations performed in one second in the bitcoin network for cryptocurrency mining.

Hashrate is also called as hashing power. It is usually symbolized as h/s (with an appropriate SI prefix).

What is hashing power or hash rate?

The hash rate is the primary measure of a Bitcoin miner‘s performance.

In 2014, a miner’s performance was generally measured in Ghash/s, or billions of hashes per second.

The hash/second unit is also part of a common measure of a Bitcoin miner’s electric efficiency in the term watts /Ghash/s, denoted as W/Ghash/s. As 1 watt is equal to 1 joule/s, this measure can also be expressed as J/Ghash, or joules per 1 billion hashes.

Bitcoin network hash rate

Bitcoin network hashrate chart

The hash/s is also used in calculations of the Bitcoin network’s overall hash rate. Because each miner or mining pool only relays a solved block to the network, the overall hash rate of the network is calculated based on the time between blocks.

While not an accurate measure of network hash rate at any given instance in time, measurements over longer periods can be considered indicative and similar calculations are used in Bitcoin’s difficulty  adjustment.

In January 2015, the network hash rate was around 300 Phash/s, or 300 quadrillion hashes per second.

If you compare a bitcoin mining device to one that is designed to mine, for example, Ethereum, you will notice a very large apparent difference in hash rates.

This is because there are many different algorithms that cryptocurrencies use. They all require different amounts of memory and computing power in order to be mined.

To put it simply, bitcoin and its SHA256 algorithm is considered by today standards to be relatively easy to compute. As a result, a mining device that is still relevant today would need to produce hashes in the terahash range and up.

If we were to compare this to Ethereum, you’ll find that most modern Ethereum mining devices (typically GPU’s) operate in the megahash range.

At first glance, you may think that the bitcoin mining device is significantly more powerful or more productive.

While it’s true that it produces more hashes (of the SHA256 variety), this is because bitcoin hashes are easier to produce computationally.

As a consequence, the network difficulty is significantly higher for bitcoin.

To make things even more confusing, some cryptocurrencies intentionally chose algorithms that can only be mined using a basic CPU.

As a result, mining devices for this network that can produce hundreds of hashes per second are considered to be high and very competitive.

So what does all this mean?

Basically, it means that looking at the hash rate alone doesn’t necessarily tell you the effectiveness of the miner.

You also need to understand the network difficulty, and what the norm is for most mining devices for that particular cryptocurrency.

How can I calculate how many hashes I generate per second?

Your problem breaks down nicely into 3 separate tasks:

  • Sharing a single count variable across threads
  • Benchmarking thread completion time
  • Calculating hashes p/sec
  • Sharing a single count variable across threads

Now that we know that not all hashes are the same we need to know how to calculate the estimated profitability of a miner based on its hash rate.

For this, will need to use a mining profitability calculators, they are available in the Internet.

public static class GlobalCounter

 {
   public static int Value { get; private set; }
   public static void Increment()
   {
       Value = GetNextValue(Value);
   }
   private static int GetNextValue(int curValue)
   {
       return Interlocked.Increment(ref curValue);
   }
   public static void Reset()
   {
       Value = 0;
   }
 }

Before you spin off the threads call GlobalCounter.

Reset and then in each thread (after each successful hash) you would call GlobalCounter.

Increment – using Interlocked.X performs atomic operations of Value in a thread-safe manner, it’s also much faster than lock.

Benchmarking thread completion time

var sw = Stopwatch.StartNew();
Parallel.ForEach(someCollection, someValue =>
 {
   // generate hash
   GlobalCounter.Increment();
 });
 sw.Stop();
Parallel.ForEach will block until all threads have finished

Calculating hashes per second

...
sw.Stop();
var hashesPerSecond = GlobalCounter.Value / sw.Elapsed.Seconds;

How is the hash rate measured?

Hash rate is a unit measured in hashes per second or h/s and here are some usual denominations used to refer it.

Hash rate denominations:

  • 1 kH/s is 1,000 (one thousand) hashes per second;
  • 1 MH/s is 1,000,000 (one million) hashes per second;
  • 1 GH/s is 1,000,000,000 (one billion) hashes per second;
  • 1 TH/s is 1,000,000,000,000 (one trillion) hashes per second;
  • 1 PH/s is 1,000,000,000,000,000 (one quadrillion) hashes per second;
  • 1 EH/s is 1,000,000,000,000,000,000 (one quintillion) hashes per second.

Common Hash rate Conversions:

  • 1 MH/s = 1,000 kH/s;
  • 1 GH/s = 1,000 MH/s = 1,000,000 kH/s;
  • 1 TH/s = 1,000 GH/s = 1,000,000 MH/s = 1,000,000,000 kH/s.

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Cypherpunk’s Manifesto

A Cypherpunk’s Manifesto

Eric Hughes

by Eric Hughes

” Privacy is necessary for an open society in the electronic age.

Privacy is not secrecy.

A private matter is something one doesn’t want the whole world to know, but a secret matter is something one doesn’t want anybody to know.

Privacy is the power to selectively reveal oneself to the world.

If two parties have some sort of dealings, then each has a memory of their interaction.

Each party can speak about their own memory of this; how could anyone prevent it?

One could pass laws against it, but the freedom of speech, even more than privacy, is fundamental to an open society; we seek not to restrict any speech at all.

If many parties speak together in the same forum, each can speak to all the others and aggregate together knowledge about individuals and other parties.

The power of electronic communications has enabled such group speech, and it will not go away merely because we might want it to.

Since we desire privacy, we must ensure that each party to a transaction have knowledge only of that which is directly necessary for that transaction.

Since any information can be spoken of, we must ensure that we reveal as little as possible.

In most cases personal identity is not salient. When I purchase a magazine at a store and hand cash to the clerk, there is no need to know who I am.

When I ask my electronic mail provider to send and receive messages, my provider need not know to whom I am speaking or what I am saying or what others are saying to me; my provider only need know how to get the message there and how much I owe them in fees.

When my identity is revealed by the underlying mechanism of the transaction, I have no privacy. I cannot here selectively reveal myself; I must always reveal myself.

Therefore, privacy in an open society requires anonymous transaction systems.

Until now, cash has been the primary such system.

An anonymous transaction system is not a secret transaction system.

An anonymous system empowers individuals to reveal their identity when desired and only when desired; this is the essence of privacy.

Privacy in an open society also requires cryptography.

If I say something, I want it heard only by those for whom I intend it.

If the content of my speech is available to the world, I have no privacy.

To encrypt is to indicate the desire for privacy, and to encrypt with weak cryptography is to indicate not too much desire for privacy.

Furthermore, to reveal one’s identity with assurance when the default is anonymity requires the cryptographic signature.

We cannot expect governments, corporations, or other large, faceless organizations to grant us privacy out of their beneficence.

It is to their advantage to speak of us, and we should expect that they will speak.

To try to prevent their speech is to fight against the realities of information.

Information does not just want to be free, it longs to be free.

Information expands to fill the available storage space.

Information is Rumor’s younger, stronger cousin;

Information is fleeter of foot, has more eyes, knows more, and understands less than Rumor.

We must defend our own privacy if we expect to have any.

We must come together and create systems which allow anonymous transactions to take place.

People have been defending their own privacy for centuries with whispers, darkness, envelopes, closed doors, secret handshakes, and couriers.

The technologies of the past did not allow for strong privacy, but electronic technologies do.

We the Cypherpunks are dedicated to building anonymous systems.

We are defending our privacy with cryptography, with anonymous mail forwarding systems, with digital signatures, and with electronic money.

Cypherpunks write code.

We know that someone has to write software to defend privacy, and since we can’t get privacy unless we all do, we’re going to write it.

We publish our code so that our fellow Cypherpunks may practice and play with it. Our code is free for all to use, worldwide.

We don’t much care if you don’t approve of the software we write.

We know that software can’t be destroyed and that a widely dispersed system can’t be shut down.

Cypherpunks deplore regulations on cryptography, for encryption is fundamentally a private act.

The act of encryption, in fact, removes information from the public realm.

Even laws against cryptography reach only so far as a nation’s border and the arm of its violence.

Cryptography will ineluctably spread over the whole globe, and with it the anonymous transactions systems that it makes possible.

For privacy to be widespread it must be part of a social contract.

People must come and together deploy these systems for the common good. Privacy only extends so far as the cooperation of one’s fellows in society.

We the Cypherpunks seek your questions and your concerns and hope we may engage you so that we do not deceive ourselves.

We will not, however, be moved out of our course because some may disagree with our goals.

The Cypherpunks are actively engaged in making the networks safer for privacy. Let us proceed together apace.

Onward.

Eric Hughes

 <hughes@soda.berkeley.edu>

9 March 1993

☆ Long Live the CypherPunks ☆

The world is in debt for your bright minds, even if it doesn’t know…

It’s minds like yours that always have changed the face of the earth for a better brighter future !

KUDOS TO YOU ALL !!!

The War for a Free Internet

The War for a Free Internet

David Vorick

Feb 14

” I came of age on the Internet. By the age of 13, I had more friends whose faces I would never see than I had peers in the classroom. Most of them won’t realize today who I am even if they are reading this now. Most of them didn’t realize I was decades their junior.

When my father was growing up, his freedom was his bicycle. It gave him access to friends, to a job, freedom from his parents, and ultimately space to carve out a personality that he could call his own. He wanted nothing more than to pass these gifts along to me, and it was often to his dismay and frustration that I never found the same joy in my bike that he had found in his.

I was too young to realize it at the time, but I had received the same gifts as my father.

Where my father’s freedom was his bicycle, my freedom was my keyboard.

A denizen of dozens of forums and hundreds of websites, countless hours each weekend contributed elements to my personality that raised me to be someone beyond anything I could have become in my hometown alone.

As middle school became high school, my online hours began to exceed my offline hours. By my sophomore year of college I was spending more than 80 hours per week on the Internet.

The Internet has become the keystone of modern society, a fact that has not been overlooked by our corporate giants.

As the 2010’s progressed, the Internet became a massive land grab. A hundred thousand independently operated forums became one front page of the Internet.

Personal cards, handwritten letters, and cozy phonecalls turned into a single wall that wished you “Happy Birthday” 1,000 times on what was often not even the right day.

What used to be an endless exploration of hand curated forums and webpages turned into a bottomless pit of AI generated filth carefully crafted by teams of PhDs with the sole intention of getting you to stare at your phone for just a little bit longer.

The modern Internet has been absolutely steamrolled by the likes of Google, Facebook, and Amazon.

As these platforms have festered, they’ve made it clear that we’re here to play by their rules.

They decide which of our friends we get updates from.

They decide how large a nose ring can be before a content creator gets demonetized and loses their livelihood.

An uncomfortable percentage of our time is spent under the tyranny of whatever logic was implemented in the pursuit of higher profits next quarter.

Somewhere underneath it all, real people are living every day, taking what breaths they can between the inescapable deluge of content spawning from a clinical addiction to their devices.

The next wave of teenagers are coming of age in this environment and they are suffocating. Suicide rates are up almost 50% since 2007 for people under the age of 24.

The modern Internet is making us miserable.

Our overlords have captured our souls by bringing us gifts of amazing technology and bundling with those gifts chains and cages that capture our minds and manipulate us to maximize their bottom line.

The time has come to stand up for ourselves, for our health, and for the next generation.

The time has come to start the War for a Free Internet. “

WRITTEN BY

David Vorick

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CoinMarketCap.com is LYING to everyone while profiting from it

CoinMarketCap.com is LYING to everyone while profiting from it

CoinMarketCap.com, the Number 1 website in the crypto-currency industry, is showing immensely fraudulent 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 “trusted resource”.

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. Many hundreds of coins 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 “killing” off coins as it sees fit. How does it “kill” a coin? Well it removes it’s circulating supply to “?” 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 “begging” CMC to update their information with no luck. CMC literally decides which coin lives or dies with it’s 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 “competitor” 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 it’s 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 you’re 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 >  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 you’re 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 >  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. “

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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. 

That has to be spread out, on average, evenly across then ENTIRE network.  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 ; )

No, Governments Can’t do a Better Job Developing Crypto

No, Governments Can’t 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. It’s a YES-IT-CAN.

The opinions find their inspirations in comments made by 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 chief’s remarks, calling it “a hopeful sign for digital tokens,” while predicting it could “have a chilling effect on existing, nongovernmental tokens.”

The Guardian offered its editorial space to a long-time Bitcoin critic and economist Nouriel Roubini to further his plan. He outright called cryptocurrencies worthless when compared to central bank digital currencies (CBDC).“If a CBDC were to be issued, it would immediately displace cryptocurrencies, which are not scalable, cheap, secure, or [actually] decentralized,” 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. 

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 asset 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-value 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 – 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 – let’s accept it – banks had f***ed up the economy.

The digital currency – more or less – 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 – as evident in the case of Zimbabwe and Venezuela – 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.

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Setting up and running a node is not straight forward, we can help.

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If you own POS coins and aren’t staking you are missing out on ROI.

Bitcoin – People’s Money

“Better a diamond with a flaw than a pebble without.”

Confucius

Diamond with a flaw

“Try not to become a man of success. Rather become a man of value.”

Albert Einstein

Man of Value

“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!”

Rob Liano

Let your light shine

“A person’s worth is measured by the worth of what he values.”

Marcus Aurelius, “Meditations”

Values

“Mathematics expresses values that reflect the cosmos, including orderliness, balance, harmony, logic, and abstract beauty.”

Deepak Chopra

Mathematics

“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.”

Criss Jami, “Killosophy”

Job from the Heart

“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

“Ô, 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 — the craving for which is the very essence of our being — 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 doesn’t 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 Collectible’s value is primarily based on the emotions and the perception of potential buyers.”

Naved Abdali

Emotions & Perception