Tag: #Encryption

Profitability Guide

Mining Profitability Guide

To calculate mining profitability, you should follow these steps, no matter which calculator you are using:

🔸️Be sure you know your GPU models and the Hash rates.

🔸️Be sure you know the algorithm of the coin.

🔸️Choose the exchange you plan to use for selling coins. This is necessary if you want more precise results.

🔸️Be sure you know your electricity cost.


You can find a list of calculators online that are used by miners, here:

https://bithouseco.home.blog/2021/09/12/mining-calculators/


🔹️ Be sure to keep track of what’s happening in the cryptocurrency world, if you aren’t doing so already. If a coin has problems, it will definitely affect the price and mining profitability, and may even prevent you from selling mined coins.

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Mining Calculators

How to Calculate Mining Profitability: Top 6 Mining Calculators

Before we can even start mining, we should use one of the many profitability calculators online, that should give us beforehand a better understanding if the GPU, FPGA, ASIC we choose to mine with, will be profitable or not!

🔹️ Online Calculators 🔹️

🔸️ WhatToMine

🔸️ Rubin Mining Calculator

🔸️ CoinWarz

🔸️ CryptoCompare

🔸️ Minerstat

🔸️ Crypto-Coinz

Before even entering sites to buy hardware, Do GOOD…

Do VERY GOOD your R&D

If you think reading is for dorks,nerds, geeks and boring people … Well…

WELCOME TO THE REALM OF THOSE WHO ❤ TO READ !!!

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Bitcoin Quotes

Bitcoin Quotes from around the World

“Bitcoin actually has the balance

and incentives right, and that is why

it is starting to take off. “

Julian Assange

Bitcoin has the balance and incentives right

” It isn’t obvious that the world had to work this way.

But somehow the universe smiles on encryption.”

Julian Assange

The universe smiles on encryption

” The innovation is that BTC is hard to shut down. […]

Designed from the ground up to survive under the most adversarial conditions. “

Hasu

Bitcoin is hard to shut down

” Bitcoin is the most successful privacy coin to date. “

Pierre Rochard

Most successful privacy coin to date

” Bitcoin is a mathematical miracle. “

Steve Wozniak (Apple Co-Founder)

Mathematical miracle

” Bitcoin is a technological innovation that happens once a species. “

Trace Mayer

Technological innovation that happens once in a species

” Bitcoin doesn’t care about who you are or what your feelings are.

Bitcoin represents equal opportunity

to participate in a system

not encumbered by

our legacy fiat structures. “

White Rabbit

Participate in a system not encumbered by FIAT

” We’re here to unfuck the money and there’s no stopping us.

Fix the money,

change the world. “

White Rabbit

Fix the Money, Change the World

” Hardly anybody actually

understands money. “

Nick Szabo

Nobody understands money

” When you have a disruptive technology,

they call it a category killer.

Bitcoin is a serial killer –

it’s going to go through

40 or 50 different industries. “

Dan Morehead

Bitcoin is a serial killer

” It’s 21 million or death.”

Robert Breedlove

21 million or death

” It might make sense just to get some in case it catches on. “

Satoshi Nakamoto

In case it catches on

” Trusted third parties

are security holes. “

Nick Szabo

Trusted third parties

” There are only going to be

21 million coins,

there are billions of people

in the world, some reasonable percentage of who might

find it interesting to

own a piece of Bitcoin.”

Adam Back

21 Million Coins

” I think it’s essential for a program of this nature to be open source. “

Satoshi Nakamoto

Open Source

” SHA-256 is very strong. It’s not like the incremental step from MD5 to SHA1.

It can last several decades unless there’s some massive breakthrough attack. “

Satoshi Nakamoto

Sha-256

” Code mixed with robust game theory is superior to hierarchical command and control. “

ℭoinsure

Code superior to hierarchical command and control

” Given that money is one half of every commercial transaction and that whole civilizations literally rise and fall based on the quality of their money, we are talking about an awesome power, one that flies under the cover of night. “

Ron Paul

Money… an awesome power

” The world has to adapt to bitcoin, not the other way round. “

Herzmeister

The world has to adapt to bitcoin

” When I first bought bitcoin it took me two years of speculation to understand what Bitcoin really was.

But once I fully had a grasp of it, it was life altering. “

Russell Okung

Bitcoin is life altering

” Many countries stand to gain from Bitcoin’s adoption as it would remove their dependence on the US dollar and provide them with a feasible alternative. “

Misir Mahmudov

Bitcoin a feasible alternative to the US $

” Bitcoin is a optimist bet on the future, a bet on human ingenuity.

Gold is a pessimist bet on the past and, often a bet the end of civilization. “

Rodolfo Novak

Bitcoin a bet on Human Ingenuity

” Everyone has got to believe in something.

Why not believe in something verifiable and unforgeable. “

Hass McCook

Believe in something verifiable and unforgeable

” Open source software is a meritocracy of ideas, not of people.

So people are always talking about “Who controls Bitcoin?”

Good ideas control Bitcoin.

Not people.”

Ben Prentice

Good ideeas control Bitcoin

“Bitcoin is a seed of hope in a society which lost vision years ago and perspective just recently. “

Kim Neunert

Bitcoin a seed of hope

” Bitcoin has an inescapable, unavoidable, and omnipotent magnetism for the brightest and most revolutionary minds on the planet.

I’ve never witnessed anything like it. “

Brandon Bridge

Bitcoin’s magnetism

” This is why proof of work needs to be expensive, if it is cheap you can roll back things easily.

You want it to be very difficult to change history.

The only way to make it difficult to change history is to make the process of writing the current history very expensive. “

Jimmy Song

Difficult to change history

” Bitcoin is like gold but with this magical ability that you

can teleport it.”

Vijay Boyapati

Bitcoin magical ability to teleport it

” Can Bitcoin be stopped?

“Not really, this thing is a beast.

As Mises wrote:

Ideas can only be overcome by other ideas. “

Trace Mayer

Bitcoin cannot be stopped

“I’m not here to fix Bitcoin.”

Michael Saylor

Fix bitcoin

” Buying bitcoin is the most powerful protest an individual can make against the current economic system. “

Luc Dossis

Buying bitcoin is the most powerful protest

” These numbers have nothing to do with the technology of the devices; they are the maximums that thermodynamics will allow.

And they strongly imply that brute-force attacks against 256-bit keys will be infeasible until computers are built from something other than matter and occupy something other than space. “

Bruce Schneier

Maximums that thermodynamics will allow

” Cryptocurrency is such a powerful concept that it can almost

overturn governments. “

Charles Lee

Cryptocurrency can almost overturn governments

” Bitcoin will do to banks what email did to the postal industry. “

Rick Falkvinge

Bitcoin is the email for the postal industry

” I do think Bitcoin is the first [encrypted money] that has the potential to do something like change the world. “

Peter Thiel

Bitcoin has the potential to change the world

” Bitcoin is the most important invention in the history of the world since the Internet. “

Roger Ver

Bitcoin the most important invention in the history since the Internet

” Gold is a great way to preserve wealth, but it is hard to move around. You do need some kind of alternative and Bitcoin fits the bill. “

Jim Rickards

Bitcoin fits the bill as a way to preserve wealth

” You can’t stop things like Bitcoin.

It will be everywhere and the world will have to readjust.

World governments will have to readjust. “

John McAfee

Bitcoin will be everywhere and the world will have to readjust

” I think the fact that within the bitcoin universe an algorithm replaces the function of the government… is actually pretty cool. “

Al Gore

An algorithm replaces the function of government

“People have made fortunes off Bitcoin, some have lost money.

It is volatile, but people make money off of volatility too.”

Richard Branson

Some lost, some won with Bitcoin

” The ability to create something which is not duplicable in the digital world has enormous value…

Lot’s of people will build businesses on top of that. “

Eric Schmidt

Create something wich is not duplicable

“PayPal had these goals of creating a new currency.

We failed at that…

I think Bitcoin has succeeded on the level of a new currency, but the payment system is lacking.”

Peter Thiel

Bitcoin succeeded as a new currency

” As people move into Bitcoin for payments and receipts they stop using US Dollars, Euros and Chinese Yuan which in the long-term devalues these currencies. “

John McAfee

Bitcoin devalues $ € ¥

” Bitcoin is the Currency of Resistance…

If Satoshi had released Bitcoin 10 years earlier, 9/11 would

never have happened. “

Max Keiser

Bitcoin the currency of resistance

“At its core, bitcoin is a smart currency, designed by very forward-thinking engineers. “

Peter Diamandis

Bitcoin is a smart currency

“The internet is going to be one of

the major forces for reducing

the role of government.

One thing that’s missing but that

will soon be developed,

is a reliable  e-cash.”

Milton Friedman

E-Cash

” Bitcoin is a technological

tour de force. “

Bill Gates

Tour de force

” If you don’t believe it or don’t get it,

I don’t have the time

to try to convince you,

sorry. “

Satoshi Nakamoto

Don’t have the time

“WikiLeaks has kicked the hornet’s nest, and the swarm is headed towards us.”

Satoshi Nakamoto

WikiLeaks

” Lost coins only make everyone

else’s coins worth slightly more.

Think of it as a donation to everyone.”

Satoshi Nakamoto

Lost Coins

” In a few decades when the reward gets too small, the transaction fee

will become the main compensation

for [mining] nodes.

I’m sure that in 20 years there

will either be very large transaction volume or no volume.”

Satoshi Nakamoto

Transaction fee

” As computers get faster and the total computing power applied to creating bitcoins increases, the difficulty increases proportionally to keep the total new production constant.

Thus, it is known in advance how many new bitcoins will be created every year in the future.

Coins have to get initially distributed somehow, and a constant rate seems like the best formula.”

Satoshi Nakamoto

Coins distribution at a constant rate is the best formula

” Bitcoin is the beginning of something great: a currency without

a government, something

necessary and imperative. “

Nassim Taleb

Bitcoin a currency without a government

” Those who believe in Bitcoin also believe in cleverness. “

Arif Naseem

Believe in bitcoin believe in cleverness

” Bitcoin is the most stellar and

most useful system of

mutual trust ever devised. “

Arif Naseem

Bitcoin a system of mutual trust

Cryptocurrency is freedom,

Banking is slavery. “

Arif Naseem

Cryptocurrency is freedom

” Our basic thesis for bitcoin is

that it is better than gold. “

Tyler Winklevoss

Bitcoin better than gold

” I think the whole narrative

of blockchain without bitcoin

will amount to very little. “

Fred Ehrsam

Blockchain without bitcoin

” Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments. “

Leon Louw

Bitcoin world’s most important developments

” Bitcoin is a very exciting development, it might lead to a world currency.

I think over the next decade it will grow to become one of the most important ways to pay for things and transfer assets. “

Kim Dotcom (CEO of MegaUpload) 

Bitcoin might lead to a world currency

” Bitcoin may be the TCP/IP of money. “

Paul Buchheit (Creator of Gmail)

Bitcoin the TCP/IP of money

” We have elected to put our money and faith in a mathematical framework that is free of politics and human error. “

Tyler Winklevoss (Co-inventor of Facebook)

Mathematical framework free of politics and human error

” I really like Bitcoin.

I own Bitcoins.

It’s a store of value, a distributed ledger.

It’s a great place to put assets, especially in places like Argentina with 40 percent inflation, where $1 today is worth 60 cents in a year, and a government’s currency does not hold value.

It’s also a good investment vehicle if you have an appetite for risk.

But it won’t be a currency until volatility slows down. “

David Marcus (CEO of Paypal)

Bitcoin a store of value

” [Virtual Currencies] may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system. “

Ben Bernanke (Chairman of the Federal Reserve)

Bitcoin may hold long-term promise

“There are 3 eras of currency: Commodity based, politically based, and now, math based. “

Chris Dixon (Co-founder of Hunch now owned by Ebay, Co-founder of SiteAdvisor now owned by McAfee)

Math based currency

” Bitcoin is here to stay.

There would be a hacker uproar to anyone who attempted to take credit for the patent of cryptocurrency.

And I wouldn’t want to be on the receiving end of hacker fury. “

Adam Draper

Bitcoin is here to stay

” It’s money 2.0, a huge hugehuge  deal. “

Chamath Palihapitiya (Previous head of AOL instant messenger)

Money 2.0

” If there is one positive takeaway from the collapse of Mt.Gox, it is the willingness of a new generation of Bitcoin companies to work together to ensure the future of Bitcoin and the security of customer funds. “

Brian Armstrong (CEO of Coinbase)

Future of bitcoin

” Bitcoin seems to be a very promising idea.

I like the idea of basing security on the assumption that the CPU power of honest participants outweighs that of the attacker.

It is a very modern notion that exploits the power of the long tail. “

Hal Finney

Bitcoin a very promising idea…

” Bitcoin enables certain uses that are very unique.

I think it offers possibilities that no other currency allows.

For example the ability to spend a coin that only occurs when two separate parties agree to spend the coin; with a third party that couldn’t run away with the coin itself. “

Pieter Wuille

Bitcoin enables uses that are very unique

” At its core, bitcoin is a smart currency, designed by very forward-thinking engineers.

It eliminates the need for banks, gets rid of credit cardfees, currency exchange fees, money transfer fees, and reduces the need for lawyers in transitions… all good things. “

Peter Diamandis

Good things

” There is so much potential…

I am just waiting for it to be a billion dollar industry.”

“ Wow, Silk Road actually works ”

Charlie Shrem

Silk Road actually works

Asic Miners Vendors List

ASIC MINERS VENDORS LIST – 2021

https://51asic.ru/ Russian

https://akminer.com/ Chinese

https://www.antminerdistribution.com/ – Holland

https://asicmarketplace.com/ – Hong Kong

https://asicminermarket.com/ – China

https://bitcoinmerch.com/ – USA

https://www.bitmart.co.za/ – Zanzibar

https://blokforge.com/ – USA

https://bt-miners.com/ – USA

https://casaminers.com/en – Italy

https://coinminer.com/ – USA

https://coinminingcentral.com/ – England

https://cryptosupply.de/ – Germany

https://cryptodrilling.com/

https://www.cryptouniverse.at/

https://www.eastshore.xyz/

https://itopshop.net/

https://www.cryptominerbros.com/

https://mineshop.eu/

https://miningwholesale.eu/

https://miningcave.com/

https://pangolinminer.com/

https://printcrypto.io/

https://mining.sesterce.com/

https://shop.unlimitedminer.com/en/home/

https://whatsminer.net/

Satoshi Nakamoto bitcoin quotes

The Times 03/Jan/2009
Wikileaks
Lost coins
Transaction fees
Anonymous vs. Pseudonymous
bitcoin’s convenience against credit cards
Scarce asset
Generate new bitcoin address
Not having bitcoin would be the net waste
Inflation vs. Deflation in bitcoin
Potential for a positive feedback loop
…gain a new territory of freedom…
E-currency based on cryptographic proof
Attractive to the libertarian viewpoint
Root problem with conventional currency

Vires In Numeris

Vires In Numeris

” It isn’t obvious that the world had to work this way.

But somehow the universe smiles on encryption.”

Julian Assange

Nobody yet knows for sure if the universe’s smile is genuine or not.

It is possible that our assumption of mathematical asymmetries is wrong and we find that P actually equals NP, or we find surprisingly quick solutions to specific problems which we currently assume to be hard.

If that should be the case, cryptography as we know it will cease to exist, and the implications would most likely change the world beyond recognition.

“Vires in Numeris”

=

“Strength in Numbers”

epii

Vires in numeris is not only a catchy motto used by bitcoiners.

The realization that there is an unfathomable strength to be found in numbers is a profound one.

Understanding this, and the inversion of existing power balances which it enables changed my view of the world and the future which lies ahead of us.

One direct result of this is the fact that you don’t have to ask anyone for permission to participate in Bitcoin.

There is no page to sign up, no company in charge, no government agency to send application forms to.

Simply generate a large number and you are pretty much good to go.

The central authority of account creation is mathematics.

And God only knows who is in charge of that.

Elliptic curve examples (cc-by-sa Emmanuel Boutet)

Bitcoin is built upon our best understanding of reality.

While there are still many open problems in physics, computer science, and mathematics, we are pretty sure about some things.

That there is an asymmetry between finding solutions and validating the correctness of these solutions is one such thing.

That computation needs energy is another one.

In other words: finding a needle in a haystack is harder than checking if the pointy thing in your hand is indeed a needle or not.

And finding the needle takes work.

The vastness of Bitcoin’s address space is truly mind-boggling.

The number of private keys even more so. It is fascinating how much of our modern world boils down to the improbability of finding a needle in an unfathomably large haystack.

I am now more aware of this fact than ever.

Bitcoin taught me that there is strength in numbers.

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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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