In a first, Bitcoin developers have done something amazing amid the criticism over the lightning network and issues associated with it. A team of developers has made an international payment using the radio … Continue reading International payment using the radio waves→
My inspiration for this page was given to me by my new aquired friend, a fellow Truth Seeker – Joris and to whom I dedicate this page… Wish you… as well as to … Continue reading Discipline Quotes→
Bitcoin white paper turns 15 and the Legacy of Satoshi Nakamoto lives on. “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi Oct. 31, … Continue reading Bitcoin White Paper turn 15→
Again, welcome, welcome, and welcome! Glad you’re here! There’s so much to do around these parts that it’s really hard to know exactly where to start… … so, I’ve made a bit of a guide for you so that you can feel the most comfortable digging in, learning about bitcoin, blockchain, and the many different cryptocurrencies, and getting to know the folks!
Also, here are some helpful suggestions on what to share in your introduction:
Who are you?
Where are you located?
What was the first cryptocurrency that you invested in and why?
What are you “TO THE MOON” goals?
What are you the most excited about in terms of our growing community?
Build Your Own ASIC Miner
I would like to compile a list of resources on how to build our own ASIC miners. I think that this is important for the decentralization of mining power with the current centralization of miners in China and uncertainty of legality in that jurisdiction. Also, with recent controversial discussions of Bitcoin Cash.
According to some of the links below, creating your own ASIC miner is impossible. This will be a real challenge, but I think that it is possible based on information in other forums. We have a lot of brain power here. Sourcing the ASIC chips will be a challenge. If we have any electrical engineers here, I would appreciate your insight. I am setting up my first D3 ASIC miners next week so I will be looking forward to studying the design more closely. If you have any ideas, additional resources, or know anybody who has successfully crafted their own ASIC miner please share your knowledge below. Thanks for your interest
I think it is clear that we will not be able to manufacture our own silicon ASIC chips at home because that requires some million dollar equipment but I do hope to find a source of affordable ASIC’s to experiment with. I hope to learn along the way, without it being too costly.
China: “Mining is illegal operation”
TL;DR 71% of mining is in China. Cheap electricity in China makes mining attractive. Chinese government may be locking down the miners as locals reported apparently(not confirmed yet).
” I know one of the principles at a company that IS designing their own Bitcoin ASIC – and the were talking MILLIONS to get it designed and into production. THEN they get to add on the cost of the actual chips once they’re IN production.
I think the reason they went that route was the extreme shortage of “commercial” miners and “commercial” ASIC chips, even when you have enough money to wave under Innosilicon’s or Bitfury’s noses (Bitmain doesn’t sell chips at ALL afaik) to get the pre-existing chips – and for the quantity they wanted long-term it might actually cost them LESS to roll their own despite the up-front costs.”
I am definitely dreaming but the dream gives me steam, hehe.
“Good luck finding:
a.People very well-versed in laying out bleeding-edge IC design.
b.Said people also knowing how to route by-hand the SHA256 logic cores inside the chips. Foundry-supplied IP blocks will be useless aside from memory and coms.
c.Then convincing TSMC, GloFo or Samsung to sell you time to make some test wafers. IF they will even talk/work with you Foundry cost per test run will be several 100k$ up-front.
d. rinse and repeat ‘c’ several times until the chips works reasonably ‘close to specs’. Redesign costs/time for each test run – massive.
e. And this one is a doozy – gathering KNOWLEDGABLE investors willing to put up several 10’s of millions USD to do all of this. Given the horrific past history of companies ‘making’ ASIC-based miners using their own chips and then for various reasons – mostly pure and simple nefarious greed followed closely by them frankly totally blowing the chip and power design – all failing miserably, good luck with that…
f. Convincing your Foundry to allot production time for you to produce enough chips per-run to make all this worth while. That may be as hard as ‘e’…”
All of this to say, I will do my best to incorporate my interest in cryptocurrencies and building ASIC miners into my studies, research projects, and interdisciplinary relationships at whichever university I am accepted and choose to attend. UC Riverside may be the most promising for ASICs research considering proximity to San Bernandino and materials research at UCR.
A run of chips is around 2.5 million to start. Selling them commercially in the US opens you up to a lot of liabilities too. Chinese companies don’t have to worry about someone getting hurt by one of their machines.
That said. I’d still like to do it. A silent $20-30 plug and play 1 TH/s machine is along the lines of what I’m thinking.Getting something simple like that in homes would make a huge difference.
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.
In a first, Bitcoin developers have done something amazing amid the criticism over the lightning network and issues associated with it. A team of developers has made an international payment using the radio … Continue reading International payment using the radio waves→
My inspiration for this page was given to me by my new aquired friend, a fellow Truth Seeker – Joris and to whom I dedicate this page… Wish you… as well as to … Continue reading Discipline Quotes→
Bitcoin white paper turns 15 and the Legacy of Satoshi Nakamoto lives on. “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi Oct. 31, … Continue reading Bitcoin White Paper turn 15→
BitHouse LLC is a client – focused and result driven CryptoCurrency Consulting and Mining Company that provides broad – based services at an affordable fee to our clients .
We will ensure that we work hard to meet and surpass our Clients’ expectations whenever they hire our services for Consulting or mine bitcoin.
At BitHouse LLC, our Client’s best interest always come first and foremost, and everything we do is guided by our high values and professional ethics.
Services
Cryptocurrency Consulting
General cryptocurrency advice, reviews and due diligence on tokens, blockchain projects, general investment advice and trading strategy.
Security and putting processes in place to backup your crypto.
Cryptocurrency Mining & Staking
Setup and advice on Cryptocurrency mining rigs. Mining does not just include Bitcoin, there are numerous other options to mine, including other tokens, rigs that provide processing power and storage.
Masternodes
Nodes are a great way to generate cryptocurrency, similar to mining just without the expensive hardware.
Setting up and running a node is not straight forward, we can help.
Proof of Stake / Staking Wallets
Just like mining, storing your cryptocurrency in a wallet that is connected to the blockchain can generate you more crypto of that same token.
If you own POS coins and 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.”
In a first, Bitcoin developers have done something amazing amid the criticism over the lightning network and issues associated with it. A team of developers has made an international payment using the radio … Continue reading International payment using the radio waves→
My inspiration for this page was given to me by my new aquired friend, a fellow Truth Seeker – Joris and to whom I dedicate this page… Wish you… as well as to … Continue reading Discipline Quotes→
Bitcoin white paper turns 15 and the Legacy of Satoshi Nakamoto lives on. “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi Oct. 31, … Continue reading Bitcoin White Paper turn 15→
BitHouse 