First Time/Small Miner

First time/Small miner reference
for getting started.

If you want to start mining here is what you need… and what you need to know.

This is written for home miners/small farms, but can be used as a guideline for most operations. Use this as a reference for what you need to research, or what questions you need to ask before jumping in.

What you need to mine can be broken down into the following categories:

  • Hardware
  • Electricity
  • Location
  • Internet connection
  • Information

Mining BITCOIN is done exclusively with dedicated BITCOIN mining hardware based on ASICs: https://en.wikipedia.org/wiki/Application-specific_integrated_circuit .

You CAN NOT meaningfully mine bitcoin today with CPU, GPU or even FPGAs. Bitcoin difficulty adapts to match the amount of mining done on the network and has reached levels trillions of times too high to mine meaningfully with PCs, laptops, tablets, phones, webpages, javascript, GPUs, and even generalised SHA hardware.

Even if you combined all the computers in the world, including all known supercomputer, you would not even approach 0.1% of the bitcoin hashrate today.

There isn’t any point attempting to mine bitcoin with CPU or GPU even in the interests of learning as it shares almost nothing with how bitcoin is mined with ASICs and will not teach you anything.

Hardware

Asic Miner:

Here is a list of the companies currently manufacturing Miners for public purchase.

Each one has their Pro’s and Con’s it is up to you to do your research and decide what is best for you.

A few points to consider while researching are :

  • efficiency
  • reliability
  • warranty period/policy
  • power draw

Each company has a different way of handling warranty repairs, depending on your situation and the policy repairs can become cost prohibitive. I will touch more on efficiency and power draw in the electricity section.

• Current list of competitive hardware

Power supply: You will need to purchase a power supply to run your miners. You will find ATX and Server grade PSU’s, the latter being preferred for mining BTC. 

When it comes to selecting a PSU purchase something with a capacity 25% higher than your miner is rated to draw. This will have you operating within the 80% rule.(explained further in the electricity section)

EX. Miner draws 1000 PSU should be able to provide 1250W.

** Many current generation miners are now being manufactured with Integrated PSU. Again do your research to see if your unit comes with or without. Generally you will still need to source a power cable.**

Auxilliaries – Avalon miners require an external controller, 1 per 20 miners. You may have to run additional fans for intake and exhaust depending on your location.

PSU’s can be purchased large enough to run 2 Miners; or the opposite 1 Miner fed by 2 PSU’s. Ensure the PSU you have selected will have the correct amount of PCI-E connectors required to operate your miner(s)

You can also find a large supply of used miners and PSU’s. Again it’s up to you to do your research as these often are a no return transaction.

Electricity

Follow all local codes and regulations

This is the number 1 factor in whether mining is right for you. As discussed with Miners being a 24/7 machine drawing power those costs will make it cost prohibitive for some people to mine. You need to be aware of what your costs/kWh are and run the numbers.

This will be done in a profitability calculator. This is just an example of 1 there are many out there.

( Miner usage in kW ) * ( Hours run per day ) 24 * ( Cost/kWh ) = Cost per Day to Operate

( Ideally less than the FIAT value of BTC mined )

The second part to the electrical requirements of mining is the available service; written for North America.

You will need to figure out the amperage you can spare, what circuits and receptacles you have in place, are you setting up on 220V or 110V. You will need to make sure that you have the right cord end for your PSU to match the receptacle, picking the wrong one can cost you a few days of mining if it has to be shipped.

If you can try and set up on a 220V circuit for 2 reasons :

– You will pull half the amps, and it is more efficient.

– Doing so requires 2 breaker spaces in your panel. Breaker sizing will depend on how many miners you plan to run. Here is the formula for calculating amps.

Watts / Voltage = Amps

Here is where you will bring the 80% rule back into play by sizing the continuous miner load to 80% of the breaker rating. 12 Amps on a 15 Amp breaker, 16 Amps max on a 20 Amp breaker, 24 Amps on a 30 amp breaker.

If/when you increase the amount of miners you are running you may want to look into PDU’s, as opposed to more receptacles. 

Location

This is something that is often overlooked to the headache and frustration of many would be miners. These machines are loud and hot .
You essentially have an electric heater that also uses an industrial fan to keep it from melting itself. This space will need to have the electrical requirements as discussed previously.

So make sure you have a space that is well ventilated with a plan to exhaust heat, and bring in fresh dust free air. I say this as using AC to cool the room will eat into your profits and may even make mining unprofitable.

The noise issue is a consideration you can sort out depending on whats available. (garage, basement, remote building)

Both of these issues can be handled with hosting, which is further explained in the information section.

Internet connection

Some miner setups have the option to use wifi. It is advisable to use a wired connection where available. This will provide a more stable connection and ensure you are submitting the expected amount of shares which is directly related to your payouts.

Please note that mining uses a negligible amount of bandwidth, and will not affect your other internet usage.

Information

You can use this information in this post as a good baseline to get you going. In addition to this you will want to research network difficulty; this readjusts every 2016 blocks to maintain a 10 minute block time on average. While this can go down it generally increases.

Solo or Pool?

You can solo mine but this is essentially a lottery even as a large scale miner. Should you chose this you can check this out as a starting point.

solo.ckpool.org 1% fee solo mining USA/DE 250 blocks solved!

Odds are most of you will join a pool. I will only say that it is in your best interest to mine at a pool that pays transaction fees (miner rewards). Then you will want to consider the fees associated with the pool.

When it comes to these pools you want them to be large enough that they are getting at least 1 block every Difficulty adjustment period. Larger pools will offer smaller rewards paid out more frequently, and vice versa.





Leave a trail…


Ralph Waldo Emerson

Ralph Waldo Emerson (May 25, 1803 – April 27, 1882), who went by his middle name Waldo, was an American essayist, lecturer, philosopher, abolitionist, and poet who led the transcendentalist movement of the mid-19th century.

He was seen as a champion of individualism and a prescient critic of the countervailing pressures of society, and his ideology was disseminated through dozens of published essays and more than 1,500 public lectures across the United States.

Emerson gradually moved away from the religious and social beliefs of his contemporaries, formulating and expressing the philosophy of transcendentalism in his 1836 essay “Nature”.

Following this work, he gave a speech entitled “The American Scholar” in 1837, which Oliver Wendell Holmes Sr. considered to be America’s “Intellectual Declaration of Independence.”

Emerson wrote most of his important essays as lectures first and then revised them for print. His first two collections of essays, Essays: First Series (1841) and Essays: Second Series (1844), represent the core of his thinking. They include the well-known essays “Self-Reliance”, “The Over-Soul”, “Circles”, “The Poet”, and “Experience.” Together with “Nature”, these essays made the decade from the mid-1830s to the mid-1840s Emerson’s most fertile period.

Emerson wrote on a number of subjects, never espousing fixed philosophical tenets, but developing certain ideas such as individuality, freedom, the ability for mankind to realize almost anything, and the relationship between the soul and the surrounding world.

Emerson’s “nature” was more philosophical than naturalistic: “Philosophically considered, the universe is composed of Nature and the Soul.”

Emerson is one of several figures who “took a more pantheist or pandeist approach by rejecting views of God as separate from the world.”

He remains among the linchpins of the American romantic movement, and his work has greatly influenced the thinkers, writers and poets that followed him.

“In all my lectures,” he wrote, “I have taught one doctrine, namely, the infinitude of the private man.” Emerson is also well known as a mentor and friend of Henry David Thoreau, a fellow transcendentalist.

As a lecturer and orator, Emerson—nicknamed the Sage of Concord — became the leading voice of intellectual culture in the United States.

James Russell Lowell, editor of the Atlantic Monthly and the North American Review, commented in his book My Study Windows (1871), that Emerson was not only the “most steadily attractive lecturer in America,” but also “one of the pioneers of the lecturing system.”

Herman Melville, who had met Emerson in 1849, originally thought he had “a defect in the region of the heart” and a “self-conceit so intensely intellectual that at first one hesitates to call it by its right name”, though he later admitted Emerson was “a great man”.

Theodore Parker, a minister and transcendentalist, noted Emerson’s ability to influence and inspire others: “the brilliant genius of Emerson rose in the winter nights, and hung over Boston, drawing the eyes of ingenuous young people to look up to that great new star, a beauty and a mystery, which charmed for the moment, while it gave also perennial inspiration, as it led them forward along new paths, and towards new hopes”.

Emerson’s work not only influenced his contemporaries, such as Walt Whitman and Henry David Thoreau, but would continue to influence thinkers and writers in the United States and around the world down to the present.

Notable thinkers who recognize Emerson’s influence include Nietzsche and William James, Emerson’s godson. There is little disagreement that Emerson was the most influential writer of 19th-century America, though these days he is largely the concern of scholars.

Walt Whitman, Henry David Thoreau and William James were all positive Emersonians, while Herman Melville, Nathaniel Hawthorne and Henry James were Emersonians in denial—while they set themselves in opposition to the sage, there was no escaping his influence.

To T. S. Eliot, Emerson’s essays were an “encumbrance”. Waldo the Sage was eclipsed from 1914 until 1965, when he returned to shine, after surviving in the work of major American poets like Robert Frost, Wallace Stevens and Hart Crane.

In his book The American Religion, Harold Bloom repeatedly refers to Emerson as “The prophet of the American Religion”, which in the context of the book refers to indigenously American religions such as Mormonism and Christian Science, which arose largely in Emerson’s lifetime, but also to mainline Protestant churches that Bloom says have become in the United States more gnostic than their European counterparts.

In The Western Canon, Bloom compares Emerson to Michel de Montaigne: “The only equivalent reading experience that I know is to reread endlessly in the notebooks and journals of Ralph Waldo Emerson, the American version of Montaigne.”

Several of Emerson’s poems were included in Bloom’s The Best Poems of the English Language, although he wrote that none of the poems are as outstanding as the best of Emerson’s essays, which Bloom listed as “Self-Reliance”, “Circles”, “Experience”, and “nearly all of Conduct of Life”.

In his belief that line lengths, rhythms, and phrases are determined by breath, Emerson’s poetry foreshadowed the theories of Charles Olson.





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Bitcoin mining and the Luck Statistic



Bitcoin Mining and the Luck Statistic


• 0. Introduction

My aim is for any brand new miner to be able to determine just how unlikely any run of bad luck is, and so reduce the overall level of panic amongst miners.

Mining panic has been exacerbated by reports of accidental block withholding attacks, and a stratum vulnerability.

Wouldn’t you prefer to know if your panic was actually warranted? 


• 1. Gambler’s fallacy

For miners who have been around for more than a year or two seen good and bad luck (unless they mine at a “Pay per share” pool, in which case they are not subject to luck at all) and know that it will even out in the long term.

However, every new miner striking a run of bad luck will flail around, looking to escape to another pool that is not having bad luck. This sort of response to random events can be thought of as a type of gambler’s fallacy. 


• 2. Bad Luck lasts longer

Another reason that makes us mis-judge mining luck is that when we mine, we mostly experience bad luck.

In fact if you go to the trouble of working it out, your hours of mining will be about one-quarter good luck and three quarters bad luck. Why? Bad luck takes longer, good luck rounds take much less time. 


• 3. Assessing luck over time instead of blocks

Another mistake made by novice miners is to assume that the extremes of luck will be the same for all pool over any time frame. This is wrong for two related reasons:

The more blocks are solved the closer luck approaches 100%

Because the timeframe for luck to to approach 100% varies depending on number of blocks solved, comparing various pools’ luck over the same time period is invalid. Instead we need to compare luck over similar number of blocks.


• 4. The luck statistic, the Erlang distribution, PDFs and CDFs

I’ll try to avoid terms like “variance” and “median” and “maths” in order to not scare away too many readers, but we do need a definition:

Luck = Mean (expected shares per round / actual shares per round)

Luck statistic = mean (actual shares per round / expected shares per round

i.e. Luck = 1/Luck statistic

I would much rather just refer to the ‘Luck statistic’ as luck, but due to our psychological preference to assign luck a scale where bigger is better, we need both measures – “Luck” as a shorthand for “How much am I earning as a percent of what I expect to earn”, and the “Luck” statistic. Just keep in mind the larger the ‘luck’ statistic, the worse the ‘luck’.

The luck statistic is negative binomially distributed, but can be very closely approximated by a known and well understood distribution ( Erlang distribution ) which makes calculating probabilities simpler. 

The approximation becomes more accurate as difficulty increases – think of Euler’s (1 + 1/n)^n approximation to e as the comparison of an exponentially distributed random variable (Erlang distribution shape parameter = 1) and a geometrically distributed random variable (Negative binomial distribution, size parameter = 1, probability = 1/n). 

In case you’re worried about the approximation leading to significant error, at current difficulty you’ll won’t see a probability error greater than 0.0000000001.

Visualising the Erlang distribution:

The PDF is the probability density function, which indicates how probable it is that the luck statistic will be some arbitrary value.  

The CDF is the cumulative distribution function, which indicates how probable it is that the luck statistic will be greater than or equal to arbitrary value.

Both plots illustrate:

The luck statistic tends closer to 1.0 as the number of blocks over which the statistic is averaged increases

Extremes of luck are more likely when the luck statistic is averaged over fewer blocks.


• 5. Managing Income Variance

Luck averaged over more blocks means fewer extremes, so more blocks in less time means as a miner you will experience less variation in payout – but also means that you’ll be increasing the size of pools that are already large.

You can avoid this by adjusting your timescale expectations – try to focus on weekly income, or income per retarget and you’ll be less affected by income variations. Wait about one hundred blocks and income will be around +/- 20% of expected.

Your other option is to mine at a pool that has a pay per share (PPS) reward method, but this has a couple of downsides. The first is that since the pool is smoothing out the income variations for you, if they don’t manage that risk properly they could bankrupt themselves, and leaving you with lost income. The other problem is that since PPS is risky not many pools want to provide it so you won’t have many options about where you can mine.

• 6. How can you calculate the CDF probability yourself?

If you want to manage your expectations without using a PPS pool you need to know what to expect. Not just the reward per share but the typical range of values you might encounter in some time frame. So, how can you calculate the CDF probability yourself? If you have some experience with statistics or coding knowledge can use R or mathematica  or even python, but you can also use the Wolfram Alpha website. By entering the luck statistic and the number of blocks over which the statistic was averaged, you get the lower tail probability of that statistic occurring.

CDF [ErlangDistribution[nblocks, nblocks], luck statistic]

For example, if the luck statistic was 1.1 over one hundred blocks is that quite unlucky or just a little unlucky? Enter: 

CDF [ErlangDistribution[100, 100], 1.1]
The result is 0.84, so for 84 times out of one hundred re-runs of one blocks, we’d see luckier blocks. Not that unlucky – 1 in every six re-runs would be unluckier. 

• 6. How can you calculate the probable luck outcomes yourself?

Rather than assess how lucky or unlucky your pool has been, planning requires you to  estimate how unlucky is could be in future. Let’s say you plan to be able to manage a monthly worst case of 0.999 (one one in a thousand re-runs of the months blocks would be worse), and your expect your pool to solve around 50 blocks in that time.

quantile(ErlangDistribution[50, 50], 0.999)
This results in a luck statistic of ~1.495, or a luck of 1/1.495 = 66.9%


• 7. I need something easier.
Or less statisticky, anyway.

OK, I hear you. My fun != your fun. This chart gives you the expected luck percentage (and it’s all bad luck) for bad luck with a 1/3 chance of that luck or worse occurring (not very unlucky) to bad luck with a 1/10000 chance of that luck or worse occurring (really quite unlucky). Use it to either plan for the future or get an idea of how lucky you’ve been.

For example, my pool solves ten blocks at a luck of 80%, is that really bad? Not really. It’ll happen around 20% of the time (1/5 chance of that luck or worse occurring). Maybe I just want to make sure I can cope with a 1/thousand bad luck run of five hundred blocks (~67.5%).


8. Summary

Variance in income reduces as a function of number of blocks solved.

Variance in income is not a function of time.

Learn how to plan for bad luck, and to check that your pool’s luck is not impossibly bad.

organofcorti.blogspot.com is a reader supported blog:

1QC2KE4GZ4SZ8AnpwVT483D2E97SLHTGCG





The Laws are Unjust

As we’ve seen over the many years that this rag has been written (and beyond) companies who are able to fund whole teams dedicated to data security have been wholly ineffective at storing that data safely.

With the passage of this new law EU officials are actively putting citizens in harm’s way by irresponsibly trying to force bitcoin users to collect and store each other’s data. This is if you believe that is the actual intention behind this move.

In reality, this move likely serves as a pure intimidation tactic to coerce people to use trusted third parties when transacting with bitcoin.

A heavy handed shove into easily controlled vectors. If too many users are in control of their own private keys, run their own nodes, and are up to date on best privacy practices when transacting it is much harder to stop bitcoin.

And make no mistake, these people want to stop bitcoin at all costs.

They do not want you to be free.

They are quickly losing their grasp of control on the populace and they are moving as quickly as possible to clamp down in an attempt to retain control.

You are not meant to have privacy in their eyes. You are inherently a criminal in their eyes. These people think you are disgusting cattle who needs to be led at every turn.

It does not have to be this way. You do not have to succumb to the madness of these people. All it takes are a few decisions.


Speak up!

Act!

Disobey!


There is a silent majority out there who knows this type of attempted control is inherently wrong.


It is anti-human!

It is evil!


This silent majority needs to begin developing the courage to speak up.

Call out the abject insanity of allowing unelected institutions like the Financial Action Task Force write freedom restricting guidelines that get adopted by governments like the EU.

Learn how to run your own node, how to produce your own private/public key pairs, and how to destroy chain analysis heuristics with privacy best practices.


Make the tyrant’s job as hard as possible!

Disobey!


Stand up and defend freedom in the Digital Age by actively defying their unjust laws.


“If a law is unjust, a man is not only right to disobey it, he obligated to do so.”


It is your duty as an individual to disobey these incredibly invasive and tyrannical “laws”.

If you don’t disobey your progeny may not have the opportunity to. The time to counter punch is right now. Get on it.


Source: https://tftc.io/








Blockchain Spectrum

The Blockchain Spectrum

Now, even if someone does not have the drawbacks of decades-long experience and mental models with a specific asset class, it is still very hard to understand Bitcoin.

Why? Because Bitcoin is the intersection of many, many different fields.

To truly understand Bitcoin, there is no other way than being a polymath.

Even if one has made it as far to (a) realize Bitcoin is something completely new and solely using existing heuristics and mental models will not work and (b) with Bitcoin, more than anything else, we do not know what we do not know — understanding still requires a very broad set of competences.

The correct approach to understand when one starts going down the Bitcoin rabbit hole is therefore to assume one knows nothing and any experience and insight one has from previous aspects of life brings
very little to the table.

First principles thinking is required.
We can, however, try to define a little deeper what Bitcoin is. Below is listed some different ways of wrapping one’s head around Bitcoin.

Not an exhaustive list.

A living organism

Bitcoin is Free and Open Source software. It is not a piece of IP owned by a centralized joint-stock company that needs to optimize for the bottom line of the next quarter and is incapable of cannibalizing itself. Since the Bitcoin whitepaper was released and the
genesis block was mined, we have seen an explosion of experiments, ideas and creative geniuses get involved in Bitcoin and crypto as a whole. To think of Bitcoin as a living, technological organism that adjusts, develops and constantly changes to survive can be useful.

A religion.

Money, as many have learned and realized in recent decade, is just a social
construction we are all part of. The value therefore comes from the amount of true believers.

Continuing this line of thinking, one could describe the religion as consisting of:

  • Prophet: Satoshi. No longer present. Impossible to ask questions.
  • Convictions: Decentralization.
  • Rituals: Running nodes. Mining. Hodling.
  • Holy scriptures: Bitcoin whitepaper. As with all holy scriptures, people interpret them in their own way.
  • Sacred objects: Genesis block, lowercase bitcoin
  • Sects: Different interpretations resulting in different factions/sects: small blockers, big blockers, etc.

An emerging economy

  • The consensus protocol can be thought of as the constitution
  • The society as the constituency (users on the demand-side; miners on the supply-side)
  • Core developers as the executive department who write the code and execute on the strategy, but amendments to the protocol (i.e., constitution) require approval from the constituency)
  • The native token is the internal currency
  • The investors underwrite the currency

Additionally, many one-liners and memes exist to describe Bitcoin. Not an exhaustive list.

  • Sound money
  • Digital gold
  • “An insurance policy against an Orwellian future”
  • “A tool for freeing humanity from oligarchs and tyrants, dressed up as a get-rich-quick scheme”
  • Censorship- judgment & seizure-resistant money
  • Peer to peer digital cash
  • Swiss Bank account in your pocket
  • Unstoppable and uncensorable hard money

Source: https://backed.ai/





The monetary properties of Bitcoin


bitcoin vs gold

bitcoin vs fiat

Bitcoin is a monetary good — a new form of money. As Bitcoin is a money, it must be compared to other monies to consider the comparative advantages of Bitcoin and from that consider further the probabilities of Bitcoin winning ground or not in the competition between monies.

Brief summarization of the monetary properties

Summarization of the monetary properties of Bitcoin compared to precious metals and fiat currencies

As the exhibit above showcases, Bitcoin offers many different distinct and compelling competitive advantages to the alternatives.

These include, but are not limited to:

1. Bitcoin is the first asset in the human history to provide any holder a very sure case of unseizability and censorship- and judgment-resistance for their funds.

Unseizability: With precious metals and fiat currencies, the custodianship is mostly in the hands of trusted custodians that is subject to any intervention by a government or authority.

Bitcoin, with self-custody being orders of magnitude easier than with precious metals and fiat currencies, and access to the corresponding private key of funds being the sole way to access and move funds, no one can seize your bitcoins.

Censorship- and judgment resistance: With precious metals and fiat currencies, the payment clearing for small value transactions can with not much hassle be somewhat censorship resistant if the involved parties are willing to transact in the physical units of precious metals and fiat currencies and to self-custody the funds going forward.

However, with non-small value transactions it is exceedingly inconvenient and costly for transactions of precious metals and fiat currencies to happen in the offline, with physical units and self-custody going forward, leaving the centralized intermediaries as the only option and these are subject to any intervention by a government or authority.

Bitcoin, with the payment clearing involving no centralized intermediaries but instead a decentralized and distributed setup requiring no AML/KYC, the result is that of a the payment clearing process being permissionless, allowing anyone with cryptographic access to funds to move them at their will.

2. Bitcoin provides an inherently apolitical global monetary unit. It is truly border-less, with no recognition of any jurisdictional rules and laws, allowing the jurisdiction of a counterpart in any transaction to be of no relevance.

◦ Fiat currencies are highly political and precious metals are less political than fiat currencies, but still much more political than Bitcoin.

◦ Bitcoin is truly border-less: any bitcoin funds can be accessed anywhere on the planet by having access to information that can even be stored inside a human brain and reliably retrieved at small effort — and, crucially, with no intermediary and no permission required the bitcoin funds can be moved to anywhere in the world with final settlement in the next block.

3. Bitcoin provides scarcity and salability through time characteristics vastly superior to any other monetary options, including fiat currencies and precious metals.

◦ The non-discretionary monetary policy of the bitcoin networking allowing for the asymptotic money supply* of 21 million BTC is built into the literal definition of the protocol. This is a drastic contrast to the arbitrary scarcity of fiat currencies governed by politics.

The scarcity of precious metals is much better than fiat currencies, but Bitcoin with the strictly fixed money supply outperforms any precious metal.

Bitcoin provides any holder a reassurance stronger than any other asset in the world that their ownership stake in the total quantity of Bitcoin on the market will never diluted.

One BTC of 21 million will always be one BTC of 21 million.

◦ Bitcoins are infinitely durable, impossible to counterfeit or dilute, can be stored at no cost and at no degradation.


* By inventing Bitcoin, Satoshi Nakamoto created the first example of a digital good (in this case, monetary good) that is impossible to reproduce ad infinitum, thereby creating the first instance of human history of digital scarcity.

Less talked about it, but perhaps more important, Satoshi Nakamoto with Bitcoin also created the first example of a good being absolute scarce.

Previously, any consideration of scarcity of a good was relative. Any physical good is never absolutely scarce, onlyrelatively scarce when compared to other goods — simply because any limit on a physical goods is a function of the time and human effort put towards producing the good.

Bitcoin, with the asymptotic monetary supply built into the protocol, is therefore the first example of absolute scarcity in a liquid commodity and good that cannot have its fixed quantity of supply increased.


People’s Money

Power to the People

The seed has been planted
Make it Thrive !!!

Choose

Veritas non Auctoritas …

Choose Wisely




Sapere Aude



Etymology

It is from the epithet of a parable, explaining that a fool waits for the stream to stop before crossing, while a wise man forgoes comfort and crosses anyway.

The original use seems to be in Epistle II  of  Horace‘s Epistularum liber primus:

“Dimidium facti qui coepit habet: sapere aude” (“He who has begun is half done: dare to know!”).


Phrase

sapere audē

  1. Have the courage to think for yourself
  2. Have courage to use your own reason“, in the context of committing to tasks that need to be embarked upon, however unpleasant or awkward.
  3. “Dare to be wise”, the motto of the Enlightenment.

Usage notes

Kant answers the question in the first sentence of the essay: “Enlightenment is man’s emergence from his self-incurred immaturity (Unmündigkeit).”

He argues that the immaturity is self-inflicted not from a lack of understanding, but from the lack of courage to use one’s reason, intellect, and wisdom without the guidance of another.

Kant argued that using one’s reason is considered dangerous by most men and all women.

He exclaims that the motto of the Enlightenment is “Sapere aude“! – Dare to be wise!



Source:

https://wikipedia.org/




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 ; )