Bitcoin Mining Guide - Getting started with Bitcoin mining

Coinbase just revealed their new listing checklist, let's check how Nimiq does
Open Financial System
Open financial system is defined as being available to everyone and not controlled by a single entity.
✔︎ Pretty easy
Innovation or Efficiency Gains
New or improved technology which helps solve a problem, creates a new market, addresses an unmet market need, or creates value for network participants.
✔︎ Again, pretty easy, Nimiq is bringing a huge leap forward in terms of accessibility and integration of cryptocurrencies.
Economic Freedom
A measure of how easy it is for members of a society to participate in the economy. The technology enables individuals to have more control over their own wealth and property, or the freedom to consume, produce, invest, or work as they choose.
✔︎ Basic requirement of any real cryptocurrency, easily fulfilled by Nimiq.
Equality of Opportunity
This technology is accessible to use by anyone with a smartphone or access to the internet. It contributes to the broader mission of building the on-ramps to Finance 2.0.
✔︎ Nimiq is the most accessible crypto on the market right now, you don't even have to install something to begin using it or mining it.
The network is public, decentralized, and enables trustless consensus.
〜 The architecture of Nimiq is decentralized however the hashrate is clearly not right now.
Security & Code
Assessment of engineering and product quality.
✔︎ Nimiq team has done everything it could to ensure the quality control of the code.
Source Code
Open-source code, well-documented peer-review, and testing by contributors separate from the initial development team on GitHub, etc.
〜 Of course Nimiq is open-source but the documentation is still weak, the good thing is that it's being redone.
There is a working alpha or beta product on a testnet or mainnet.
✔︎ Well, the Nimiq Network is live.
Security & Code
Demonstrable record of responding to and improving the code after a disclosure of vulnerability, and a robust bug bounty program or third party security audit.
✔︎ Nimiq team has set a bug bounty program and has been very transparent on the issue of the 25th.
Assessment of short-term operating expectations and decision making.
✔︎ You can even see them on video hehe.
Founders and Leadership
Able to articulate vision, strategy, use cases or drive developmental progress. Has a track record of demonstrable success or experience. If information is available, Coinbase will apply "know your client" standards to publicly visible founders or leaders.
✔︎ The profiles of the team are all known and easily checked.
Assessment of the engineering team and their track record of setting and achieving deadlines.
✔︎ They released the product which is a damn good track record in a sector full of vaporwares.
Business & Operations
History of interacting with the community, setting a reasonable budget and managing funds, and achieving project milestones. Thoughtful cash management is a key driver of the project's long term viability.
✔︎ There has been some "lean" periods in terms of communication but overall the team has never stopped interacting with us. When it comes to cash management the dev team should be a model for everyone else with its last transparency report.
Specialized Knowledge and Key People
The project leadership is not highly centralized or dependent on a small number of key persons. Specialized knowledge in this field is not limited to a small group of people.
〜 Let's be honest: it is right now, that said the project protocol isn't even 6 months old.
Assessment of long-term operating expectations and decision making.
✔︎ Nimiq has a foundation.
Consensus Process
There is a structured process to propose and implement major updates to the code, or there is a system or voting process for conflict resolution.
✔︎ Well it's like Bitcoin, node operators decide whether they want or not to follow an update.
Future Development Funding
There is a plan or built-in mechanism for raising, rewarding, or allocating funds to future development, beyond the funds raised from the ICO or traditional investors.
✔︎ Yes, see the intended use of fund.
White Paper
Justifies the use case for a decentralized network and outlines project goals from a business and technology perspective. While a white paper is important for understanding the project, it is not a requirement.
〜 There is the "high level" whitepaper of the ICO however it doesn't really explain in detail how Nimiq works.
Assessment of a network's potential barriers to scaling and ability to grow and handle user adoption.
✔︎ Like pretty much every project, that's what Robin is currently working on by the way.
Clear timeline with stages of development, reasonable project milestones, or built-in development incentives.
✔︎ We should have the roadmap soon™️.
Network Operating Costs
The barriers to scaling the network have been identified, or solutions have been proposed or discussed. The resource consumption costs for validators and miners are not the main deterrents to participation.
✔︎ Yes, the team has been considering second layer solutions like Lightning Network or Liquidity Network.
Practical Applications
There are examples of real-world implementation or future practical applications.
✔︎ The new Nimiq shop is a great example of it.
Type of Blockchain
The asset is a separate blockchain with a new architecture system and network, or it leverages an existing blockchain for synergies and network effects
✔︎ Both in fact, Nimiq is a whole new blockchain built from scratch in Javascript and Rust + it's using HTLC/atomic swap to interact with Ethereum.
Can Coinbase legally offer this asset?
✔︎ I'm not a lawyer but I guess it can
US Securities Law
The asset is not classified as a security using Coinbase's Securities Law Framework.
〜 Hard to say, they have this checklist and the fact that some NIM were given against NET which were distributed through an ICO makes it kind of blurry
Compliance Obligations
The asset would not affect Coinbase or Coinbase's ability to meet compliance obligations, which include Compliance Obligations, Anti-Money Laundering (AML) program and obligations under government licenses in any jurisdiction (e.g. Money Transmitter Licenses).
✔︎ Conversion from NET to NIM went through a KYC specifically for that.
Integrity & Reputational Risk
Would listing the asset be inconsistent with Coinbase policy?
✔︎ I don't see why.
User Agreement
The asset, network, application or fundamental nature of the project does not constitute a Prohibited Business under Appendix 1 of the user Agreement.
✔︎ I read it and it's doesn't.
Liquidity Standards
How liquid is this asset?
〜 Weak liquidity right now.
Global Market Capitalization
How does the market capitalization compare to the total market capitalizations of other assets?
〜 Weak capitalization.
Asset Velocity
Trade velocity, or turnover, is a significant part of market capitalization. This is a measure of how easily the asset can be converted to another asset.
〜 Again, weak velocity.
For service or work tokens, new supply is created through consensus protocols. If the supply is capped, then a material amount of the total tokens should be available to the public.
✔︎ It's available.
Global Distribution
Where is this asset available to trade?
✔︎ HitBTC/Tradesatoshi/LAtoken/BTC-alpha/Nimex.
Total # of Exchanges
The number of exchanges that support the asset.
✔︎ 5.
Geographic Distribution
The asset is not limited to a single geographic region and is available to trade on decentralized exchanges.
✔︎ It's tradable everywhere and I guess you can count Agoras as a DEX.
Fiat and Crypto Pairs
Fiat and crypto trading pairs exist.
〜 Fiat pairs don't.
Exchange Volume Distribution
If secondary markets exist, then volume should be relatively distributed across exchanges.
✔︎ It is.
What is driving demand for this asset and does it lead to stronger network effects?
✔︎ The Nimiq community I guess and of course it does.
Consumer Demand
Customer demand is carefully considered, however, any asset which is created from a fork, airdrop, or automated token distribution is subject to a separate set of criteria.
〜 It would be presumptuous to say there is a customer demand for Nimiq right now.
Developers and Contributors
Growing developer base and measured progress as defined by the number of repositories, commits, and contributors.
✔︎ Nimiq has already a flourishing developper base.
Community Activity
Dedicated forums are available where developers, supporters, users, and founders can interact and build a community and offer transparency into the project. The team provides regular updates or is responsive to feedback.
✔︎ Yes it has.
External Stakeholders
There are investments from venture firms or hedge funds which have experience working with crypto companies or projects. The project has corporate partnerships, joint ventures, or dedicated consortiums.
〜 It doesn't as far as I know.
Change in Market Capitalization
The market capitalization has grown after the network has activated, demonstrating increased demand for the asset after the project's launch.
〜 Sadly not.
Growing # of nodes on the underlying blockchain. The project has a globally distributed node network, meaning operating nodes are not contained in a single country or geographic region.
✔︎ You can even check them on a map on
Transactions, Fees & Addresses
Growing # of transactions and fees paid over time. Growing # of asset or token holders, which is an indicator of asset distribution.
✔︎ Check the stats
Economic Incentives
Are the economic structures designed to incentivize all parties to act in the best interest of the network?
✔︎ It's a PoW coin so yes.
Type of Token
It is a service, work, or hybrid token. Tokens backed by fiat or other physical assets are categorized as US securities and will not be considered at this time.
✔︎ It's not backed by anything but the work done to generate them.
Token Utility
There is utility from obtaining, holding, participating, or spending the token. The team identifies a clear and compelling reason for the native digital asset to exist (i.e. the main purpose is not fundraising).
✔︎ Nimiq is a general payment protocol.
Inflation (Money Supply)
There is an algorithmically programmed inflation rate which incentivizes security and network effects. Or, if the total supply is capped, then a majority of the tokens should be available for trade when the network launches.
✔︎ You can check the inflation curve here.
Rewards and Penalties
There are mechanisms (such as transaction fees) which incentivize miners, validators, and other participants to exhibit 'good' behavior. Conversely, there are mechanisms which deter 'bad' behavior.
✔︎ Yes
There is a focus on stringent security protocols and best practices to limit scams, hacks, and theft of funds.
✔︎ The smart-contract of the ICO was audited and they didn't lose the fund yet so I guess it's secure haha.
Participation Equality
Best efforts by the team to allow a fair distribution of tokens (i.e. setting initial individual purchase caps to limit the risk of small number of investors from taking a majority of the supply).
✔︎ The number of NIM distributed through NET is only 7% in any case.
Team Ownership
The ownership stake retained by the team is a minority stake. There should be a lock-up period and reasonable vesting schedule to ensure the team is economically incentivized to improve the network into the future.
✔︎ See the vesting schedule
The team should be available and responsive to questions or feedback about the product, token sale, or use of funds across multiple forums.
✔︎ See the transparency report.
Total Supply The team should sell a fixed percentage of the total supply, and participants should know the percentage of total supply that their purchase represents, or have a clear understanding of the inflation rate.
✔︎ All informations are available freely online.
Ethics or Code of Conduct
White paper or project website should have an ethical or professional code of conduct.
✔︎ Check it here
Conclusion: 44 ✔︎ and 12 〜.
submitted by --Talleyrand-- to Nimiq [link] [comments]

Decred Journal – July 2018

Note: you can read this on Medium, GitHub or old Reddit to view all the links


dcrd: Several steps towards multipeer downloads completed: an optimization to use in-memory block index and a new 1337 chain view. Maintenance: improved test coverage, upgrading dependency management system and preparing for the upcoming Go 1.11 release.
dcrwallet: A big change introducing optional privacy-preserving SPV sync mode was merged. In this mode dcrwallet does not download the full blockchain but only gets the "filters", uses them to determine which blocks it needs and fetches them from random nodes on the network. This has on-disk footprint of 300-400 MB and sync time of minutes, compared to ~3.4 GB and sync time of hours for full sync (these are rough estimates).
jy-p: the server side of SPV (in dcrd) was deployed in v1.2.0, the client side of SPV (in dcrwallet) is in our next release, v1.3.0. Still some minor bugs in SPV that are being worked out. There will be an update to add the latest features from BIP 157/158 in the next few months. SPV will be optional in v1.3.0, but it will become the default after we get a proper header commitment for it (#general)
Decrediton: besides regular bugfixes and design improvements, several components are being developed in parallel like SPV mode, Politeia integration and Trezor support.
Politeia: testing started on mainnet, thanks to everyone who is participating. A lot of testing, bugfixing and polishing is happening in preparation for full mainnet launch. There are also a few missing features to be added before launch, e.g. capacity to edit a proposal and versioning for that, discussion to remain open once voting starts. Decrediton integration is moving forward, check out this video for a demo and this meta issue for the full checklist.
Trezor: Decrediton integration of initial Trezor support is in progress and there is a demo.
Android: app design version 2.0 completed.
dcrdata: development of several chart visualizations was completed and is awaiting deployment. Specifically, voting agendas and historic charts are merged while ticket pool visualization is in testing.
atomicswap: @glendc is seeking reviews of his Ethereum support pull request.
Dev activity stats for July: 252 active PRs, 220 master commits, 34,754 added and 12,847 deleted lines spread across 6 repositories. Contributions came from 6-10 developers per repository. (chart)


Hashrate: the month started at 40.5 and ended at 51.6 PH/s, with a low of 33.3 and a new all time high of 68.4 PH/s. F2Pool is leading with 40-45%, followed by the new BeePool at 15-25% and at 18-23%.
Staking: 30-day average ticket price is 92.6 DCR (-2.1). The price started the month at 94.6 and quickly retreated to month's low of 85 until 1,860 tickets were bought within a single period (versus target 720). This pushed the pool of tickets to 41,970 (2.5% above target), which in turn caused 10 price increases in a row to the month's high of 100.4. This was the highest ticket price seen on the new ticket price algorithm which has been in effect since Jul 2017. Second half of the month there was unusually low volatility between 92 and 94 DCR per ticket. Locked DCR held between 3.75 and 3.87 million or 46.6-48.0% of supply (+0.1% from previous peak).
Nodes: there are 212 public listening and 216 normal nodes per Version distribution: 67% on v1.2.0 (+10%), 24% on v1.1.2 (-1%), 7% on v1.1.0 (-7%). Node count data is not perfect but we can see the steady trend of upgrading to v1.2.0. This version of dcrd is notable for serving compact filters. The increased count of such full nodes allows the developers to test SPV client mode in preparations for the upcoming v1.3.0 release.


Obelisk posted three updates in July. For the most recent daily updates join their Discord.
New miner from iBeLink: DSM7T hashes Blake256 at 7 TH/s or Blake2b at 3.5 TH/s, consumes 2,100 W and costs $3,800, shipping Aug 5-10.
There were also speculations about the mysterious Pangolin Whatsminer DCR with the speed of 44 TH/s at 2,200 W and the cost of $3,888, shipping November. If you know more about it please share with us in #pow-mining channel.


Meet new stake pool: has 1% fees and is hosted by @life.
An interesting detail about stake pool was posted in chat:
emiliomann: stakebrasil is one of the pools with the lowest number of missed and expired tickets. It was one of the first and has a smaller percentage than the most recent ones who haven’t had the time to do so. (...) The Brazilian pool should be the one with the more servers spread around the world: 6 to decrease the latency. This is to explain to you why the [pool fee] rate of 5% (currently around 0.06 DCR) on the reward is also one of the highest. girino: 8 voting wallets now. I just finished setting up a new one yesterday. All of them in different datacenters, 3 in europe, 3 in north america, 1 in brazil and one in asia. We also have 3 more servers, 1 for the front end, one for "stats" and one for dcrdata. (#general)
On the mining side, Luxor started a new set of pool servers inside mainland China, while zpool has enabled Decred mining.
StatX announced Decred integration into their live dashboard and public chat.
Decred was added to Satowallet with BTC and ETH trading pairs. Caution: do your best to understand the security model before using any wallet software.


VotoLegal update:
Marina Silva is the first presidential candidate in Brazil using blockchain to keep all their electoral donations transparent and traceable. VotoLegal uses Decred technology, awesome use case! (reddit)
The story was covered by (translated) and (translated), the latter received hundreds of upvotes and comments on brasil.
On the OTC trading front, @i2Rav from i2trading reports:
We continue to see institutional interest in DCR. Large block buyers love the concept of staking as a way to earn additional income and appreciate the stakeholder rights it affords them. Likening a DCR investment to an activist shareholdebondholder gives these institutions some comfort while dipping their toes into a burgeoning new asset class.


Targeted advertising reports released for June and July. As usual, reach @timhebel for full versions.
Big news in June: Facebook reversed their policy on banning crypto ads. ICO ads are still banned, but we should be OK. My team filled out the appeal today, so we should hopefully hear something within a few days. (u/timhebel on reddit)
After couple weeks Facebook finally responded to the appeal and the next step is to verify the domain name via DNS.
A pack of Stakey Telegram stickers is now available. Have fun!




Featured articles:
Some articles are omitted due to low quality or factual errors.

Community Discussions

Community stats:
Comm systems update:
Twitter: Ari Paul debates "There can be only one" aka "highlander argument".
Reddit and Forum: how ticket pool size influences average vote time; roadmap concerns; why ticket price was volatile; ideas for using Reddit chat for dcrtrader and alternative chat systems; insette's write-up on Andrew Stone's GROUP proposal for miner-validated tokenization that is superior to current OP_RETURN-based schemes; James Liu's paper to extend atomic swaps to financial derivatives; what happens when all DCR are mined, tail emission and incentives for miners.
Chats: why tickets don't have 100% chance to vote; ideas for more straightforward marketing; long-running chat about world economy and failure modes; @brandon's thoughts on tokenizing everything, ICOs, securities, sidechains and more; challenges of staking with Trezor; ideas how to use CryptoSteel wallet with Decred; why exchange can't stake your coins, how staking can increase security, why the function to export seed from wallet is bad idea and why dcrwallet doesn't ever store the seed; ticket voting math; discussion about how GitHub workflow forces to depend on modern web browser and possible alternatives; funding marketing and education in developing markets, vetting contractors based on deliverables, "Decred contractor clearance", continued in #governance.
#dex channel continues to attract thinkers and host chats about influence of exchanges, regulation, HFT, lot sizes, liquidity, on-chain vs off-chain swaps, to name a few topics. #governance also keeps growing and hosting high quality conversations.


In July DCR was trading in USD 56-76 and BTC 0.0072-0.0109 range. A recovery started after a volume boost of up to $10.5 m on Fex around Jul 13, but once Bitcoin headed towards USD ~8,000 DCR declined along with most altcoins.
WalletInvestor posted a prediction on dcrtrader.
Decred was noticed in top 10 mineable coins on

Relevant External

One million PCs in China were infected via browser plugins to mine Decred, Siacoin and Digibyte.
In a Unchained podcast episode David Vorick shared why ASICs are better than GPUs even if they tend toward mining centralization and also described Obelisk's new Launchpad service. (missed in June issue)
Sia project moved to GitLab. The stated reasons are to avoid the risk of depending on centralized service, to avoid vendor lock-in, better continuous integration and testing, better access control and the general direction to support decentralized and open source projects.
Luxor explained why PPS pools are better.
@nic__carter published slides from his talk "An Overview of Governance in Blockchains" from Zcon0.
This article arguing the importance of governance systems dates back to 2007.
Bancor wallet was hacked. This reminds us about the fake feeling of decentralizaion, that custody of funds is dangerous and that smart contracts must have minimum complexity and be verifiable.
Circle announced official Poloniex mobile apps for iOS and Android.
On Jul 27 Circle announced delisting of 9 coins from Poloniex that led to a loss of 23-81% of their value same day. Sad reminder about how much a project can depend on a single centralized exchange.
DCR supply and market cap is now correct on and finally, on Thanks to @sumiflow, @jz and others doing the tedious work to reach out the various websites.

About This Issue

This is the 4th issue of Decred Journal. It is mirrored on GitHub, Medium and Reddit. Past issues are available here.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
Chat links were changed to from the static web viewer that suffered from UX issues (filed here and here). We will consider changing back to the static viewer once they are resolved because it does not require javascript to read chat logs.
In the previous issue we introduced "Featured articles". The judgement is subjective by definition, if you feel unfairness or want to debate the criteria please check this issue.
Feedback is appreciated: please comment on Reddit, GitHub or #writers_room.
Contributions are also welcome, some areas are adding content, pre-release review or translations to other languages.
Credits (Slack names, alphabetical order): bee, Haon and Richard-Red.
submitted by jet_user to decred [link] [comments]

Bitcoin Mining Profits - YouTube Genesis Mining Update and Review - Buying bitcoin mining contracts Don't Get Ripped Off Buying Bitcoin or Mining Contracts on eBay Bitcoin Cloud Mining in 2019 Review - Profitable? Scam? Rock Miner  Genesis Mining  Hashflare Is Dash Mining Profitable In 2018?

Individuals, businesses, developers: learn from our simple Bitcoin guides. How Bitcoin works, what is Bitcoin, what is blockchain, how to buy Bitcoin, what is Bitcoin mining and more. CFDs (Contract for Difference) und Binäroptionen sind weit verbreitete Handelsformen, bei denen der Kursverlauf im Mittelpunkt steht. Wir werden uns auf dieser Seite die Bitcoin-Plattformen ansehen, die den klassischen Währungshandel von Kryptowährungen bieten. Daher beschäftigen wir uns mit dem Derivatenhandel hier nur kurz. our review board. Article reviewed on May 07, 2020. Michelle Adeola Adelufosi. Koron/Moment/Getty Images. Cryptocurrency. What Are Bitcoins? Tweet Share Email Mining cryptocoins is an arms race that rewards early adopters. Bitcoin, the first decentralized cryptocurrency, released in early 2009. Similar digital currencies have crept into the worldwide market since then, including a spin-off ... A Smart contract audit is the review of code by experts to determine if the code is secure such as whether there are any existing vulnerabilities, possibilities for future bugs or any errors in coding that could expose users. With the complexity of a new programming environment, it is possible for even expert developers to make mistakes when writing code. It becomes critical to verify ... Mining City has taken the world by storm. It's a bitcoin mining investment promising people attractive returns on their investment. In this detailed review, we investigate how it works to determine whether its a scam or a legitimate investment.

[index] [24489] [46050] [1900] [29493] [5641] [28050] [3413] [14885] [14059] [22855]

Bitcoin Mining Profits - YouTube

In a week or 2 I will select a winner for receive a free 1/TH Mining contract for 1 year and $0 Service fee. Loading... Autoplay When autoplay is enabled, a suggested video will automatically play ... Whether you love Bitcoin cloud mining and it has made you rich, or you hate it and bought Genesis cloud mining contracts at the top of the 2017-2018 crypto bull-run and are now in massive debt ... Take a look inside of my Lifestyle Galaxy dashboard to check my profits from my bitcoin mining contract. Monthly updates. Want to start mining your own bitco... So is it time to revisit GENESIS MINING? Could CLOUD MINING be an option again? Let's find out. Subscribe for more awesome videos and a chance at Free Bitcoi... Genesis Mining Update and Review - Buying bitcoin mining contracts by Colin Brazendale. 15:13. Marco Streng - CEO at Genesis Mining - The Future of Mining by Keynote. 28:33. Genesis Mining Why now ...