Now that crypto has integrated into mainstream commercial and financial systems, it can do everything that traditional currency can do. You can use it to buy things or use it to make more money. The innovative nature of crypto means you can generate and grow wealth in innovative ways. Let’s take a look at some of the ways that you can make crypto and make money using crypto. Contents
Mining cryptocurrency means using computing power to help verify crypto transactions. Think of your computer as your neighborhood bank teller. You get paid to make sure that deposits and withdrawals get to the right place. Anyone can become a crypto miner — provided you have the right equipment. Not just any computer can be effectively used to mine. It needs to be extremely powerful to compete with all of the other bank tellers who are looking to verify transactions and make money. These huge computer rigs also use up extraordinary amounts of electricity, causing some municipalities to ban the practice. As time goes on, mining will become less profitable. The more attention it receives, the more miners enter the space. More miners means profits are spread more thinly throughout the community. But for those who can acquire the hardware and navigate the competition, there is still plenty of financial value to earn. Many miners focus efforts on up-and-coming coins expected to rise in value over time. There’s an entire industry of companies and individuals that sell rigs focused on mining certain coins. Focused rigs only allow you to mine a single coin but usually mine more efficiently. There is risk of losing the investment in your rig if your chosen coin changes its mining criteria.
Option 2: Trade Cryptocurrency
As a whole, the crypto market is stable enough to set the values of coins directly against each other. You don’t have to trade your Bitcoin for USD or Japanese Yen — you can trade Bitcoin for Tezos, Ethereum or Zcoin on a trading platform. Many people do this because they believe 1 coin will rise in value more quickly than another. Crypto traders value anonymity as well. Governments have focused on requiring exchanges to identify traders who want to move from cryptocurrency into traditional fiat. More secretive coins like Monero have been able to avoid this regulation. As a result, many traders are using Bitcoin and Ethereum as a gateway into quieter coins. There are 4 major types of exchanges that facilitate trade in the crypto space:
Fiat-crypto exchanges: These are exchanges that offer transfers between traditional currencies like the USD and cryptocurrencies. Governments keep them highly-regulated with know your customer (KYC) standards. These standards require you to provide selfies, IDs and sometimes tax records. They only deal in the bigger cryptocurrencies like Bitcoin or Ethereum.
Crypto-crypto exchanges: These exchanges don’t offer trades into fiat currencies. They are usually less regulated and may not require any ID at all to use. ie:Cryptmixeror Changelly
Peer-to-peer (P2P) exchanges: Instead of taking the other side of your trade, P2P exchanges match buyers and sellers.
Brokers: If you trade on a brokerage, you actually don’t ever own the cryptocurrency you are trading in. You are actually trading a contract for difference (CFD), a financial device that tracks the price of the underlying asset. Brokers must get a license from a regulatory body and follow the rules that the regulator sets forth. If you want to trade under the watchful eye of a traditional regulator, use a broker instead of an exchange.
Option 3: Get Paid in Crypto
As long as you have a digital wallet, you can accept payment for your goods and services in cryptocurrency. Many major businesses accept crypto including Starbucks, Whole Foods, Nordstrom, Subway, Microsoft, Amazon and others. Zogby Analytics found that 33% of small businesses accept crypto. This is a great option for people who want to build a crypto portfolio without the need to learn about the technicalities of mining or trading.
Option 4: Lending Crypto
With crypto, you can become the bank — with certain advantages. Lending crypto isn’t like letting your buddy borrow $20 and never getting it back. When you use crypto to lend the right way, your money is protected by a smart contract. Once entered, these contracts must be executed. Your deadbeat cousin can’t just turn off the phone and hope you forget about it. Lending exchanges bring together crypto holders and allow them to fund projects. Many of them are focused on building up the fundamental technologies that allow crypto to exist. Participants are rewarded with an interest rate on business returns for a specified amount of time — just like a bond. Here’s the difference: 10-year treasury yields are currently hovering around 1%. You can get 5–20% on crypto projects depending on the credit rating of the business. If you want the best of both worlds, you can invest in the bonds traditional banks issue on crypto. You can lend your crypto to individuals, but another interesting option is to lend its utility back to the entity that issued it. This practice is known as “staking” and brings an opportunity for extremely high interest returns. When you stake a coin, you basically agree to hold that coin in a digital wallet for a specified length of time. This helps to ensure the market cap for that coin. The issuing entity rewards you for not spending the coin — just like a bank. Here’s the difference: You get 0.2% per year for a top 25 bank. You can get 10 to 15% per year for a top 25 cryptocurrency.
Use Crypto to Make Money
You might laugh at the returns that traditional checking and savings accounts offer right now. Some researchers even say these rates could move into negative territory to ensure a COVID recovery. Imagine paying a bank to hold your money, and you’ll see why the market for crypto is expanding. All value-generating and trading activities in the crypto space carry risk. FDIC and SIPC insurance doesn’t exist in the space yet either. But it’s also true that you risk losing your buying power in traditional banks with interest rates that don’t outpace inflation. With all the new opportunity, exploring how to make money with cryptocurrency is worth your time.
Ultimate glossary of crypto currency terms, acronyms and abbreviations
Written bySatoshisAngels Published by read.cash On August 5th 2020, Satoshi’s Angels hosted an AMA for CoinEx on “How BCH and Avalanche Are Bringing Financial Freedom to 6 Billion People” on a Chinese platform Bihu. During the 100-minute event, Haipo Yang of ViaBTC and CoinEx, and Emin Gun Sirer of AVA Labs shared their in-depth views on such topics as different consensus mechanisms, community governance, IPFS, Defi. And Haipo explained why he wants to fork BCH. This is the full text. You can check out the full AMA here (mostly in Chinese with some English translation). https://preview.redd.it/x790bw58axf51.png?width=1920&format=png&auto=webp&s=03c8af942f8f14d98d5dd693adf9e2a50448d61d Cindy Wang (Satoshi’s Angels): There are news saying that you are to fork BCH. Is it a marketing makeover? Are you serious about it? Haipo Yang: It’s definitely not a marketing makeover. But the details are not decided yet. Over the past three years, the BCH community has gone through multiple discussions from reducing block time, changing mining algorithms, adding smart contracts, etc. But none of these disputes have been well settled. BCH is a big failure in terms of governance. A lack of good governance has made it fall in disorder. It is too decentralized to make progress. You may know that the first BCH block was mined by ViaBTC. And we gave a lot of support to it indeed. But we didn’t dominate the fork. The Chinese community in particular thought I had a lot of influence, but it was not true. I think the whole community is very dissatisfied with Bitcoin ABC, but it is difficult to replace them or change the status quo. So I am thinking of creating a new branch of BCH. The idea is still in early stage. I welcome anyone interested to participate and discuss it with me. Wang: Professor Emin, what’s your attitude to fork? Do you think it’s a good timing to fork BCH? Emin Gun Sirer: I am a big fan of BCH. It adheres to the original vision of Satoshi Nakamoto. I like the technical roadmap of BCH. But just like what Haipo mentioned, BCH lacks a good governance mechanism. There are always something that can cause BCH community to divide itself. But I think it’s not enough to just have a good governance mechanism. There are many good proposals in the community but failed to be adopted in the end. I think BCH needs social leadership to encourage discussion when there are new proposals. Wang: We are all curious to know How Avalanche got its name? I know that Avalanche doesn’t mean well in Chinese. But in English, it’s a very powerful word. Avalanche represents a series of algorithms piling together like a mountain. When decisions slowly form, the ball (nodes in the network) on top of the mountain starts going down the hill on one side, and it gets bigger and bigger, and like an avalanche and it becomes unstoppable, making the transaction final. Wang: Prof. Emin, I know that you are a big blocker. Have you ever considered implementing Avalanche based on BCH? Why create another chain? Sirer: Of course I considered that. Satoshi Nakamoto consensus is wonderful, but the proof-of-work mechanism and Nakamoto consensus base protocols have some shortcomings, such as network latency, and it is hard to scale. Avalanche, instead, is totally different, and is the new biggest breakthrough in the past 45 years. It is flexible, fast, and scalable. I’d love to implement BCH on top of avalanche in the future, to make BCH even better by making 0-conf transactions much more secure. Wang: As an old miner, why did CoinEx Chain choose to “abandon” POW, and turn to POS mechanism? Haipo: Both POW and POS consensus algorithms have their own advantages. POW is not just a consensus algorithm, but also a more transparent and open distribution method of digital currency. Anyone can participate in it through mining. POW is fairer. For a POS-based network, participants must have coins. For example, you need to invest ICO projects to obtain coins. But developers can get a lot of coins almost for free. In addition, POW is more open. Anyone can participate without holding tokens. For example, as long as you have a computer and mining rigs, you can participate in mining. Openness and fairness are two great features of POW. POS is more advanced, safe and efficient. POS is jointly maintained by the token holders, and there is no problem of 51% attacks. Those who hold tokens are more inclined to protect the network than to destroy the network for their own interests. To disrupt the network, you need to buy at least two-thirds of the token, which is very difficult to achieve. And when you actually hold so many coins, it’s barely possible for you to destroy the network. POW has the problem of 51% attack. For example, ETC just suffered the 51% attack on August 3. And the cost to do that is very low. It can be reorganized with only tens of thousands of dollars. This is also a defect of POW. In addition, in terms of TPS and block speed, POS can achieve second-level speed and higher TPS. Therefore, CoinEx Chain chose POS because it can bring a faster transaction experience. This is very important for decentralized exchanges. Both POW and POS have their own advantages. It’s a matter of personal choice. When choosing a consensus mechanism, the choice must be made according to the characteristics of the specific project. https://preview.redd.it/upbayijaaxf51.jpg?width=1055&format=pjpg&auto=webp&s=703e3b6a493a76f86bc9045e784d174bde9d3c42 Wang: Ethereum is switching to ETH 2.0. If they succeed, do you think it will lead the next bull market? Sirer: If Ethereum 2.0 can be realized, it must be a huge success. But I doubt it can be launched anytime soon considering that it has been constantly delayed. And even if it comes out, I am not so sure if it will address the core scaling problem. And the main technology in Ethereum 2.0 is sharding. Sharding technology divides the Ethereum networks into small parallel groups, but I think what will happen is everyone wants to be in the same “shard” so the sharding advantages might not be realizable in Ethereum 2.0. Avalanche supports Ethereum’s virtual machine, and Avalanche can realize 1 second level confirmation, while with sharding finalizing confirmation takes 5–6 seconds at best. Avalanche approach to make Ethereum scale is superior to Ethereum 2.0. There are many big players behind Ethereum 2.0, and I wish them success. But I believe that Avalanche will be the fastest and best Smart Contract platform in the crypto space, and it is compatible with Ethereum. Wang: Why is Avalanche a real breakthrough？ Sirer: Avalanche is fundamentally different from previous consensus mechanisms. It’s very fast with TPS surpasses 6500, which is three times that of VISA. Six confirmations can be achieved in one second. Compared with the POW mechanism of Bitcoin and Bitcoin Cash, Avalanche’s participation threshold is very low. It allows multiple virtual machines to be built on the Avalanche protocol. Avalanche is not created to compete with Bitcoin or fiat currencies such as the US dollar and RMB. It’s not made to compete with Ethereum, which is defined as the “world’s computer”. Avalanche is positioned to be an asset issuance platform to tokenize assets in the real world. Wang: How do you rank the importance of community, development, governance, and technology to a public chain? Sirer: These four are like the legs of a table. Every foot is very important. The table cannot stand without strong support. A good community needs to be open to welcome developers and people. Good governance is especially important, to figure out what users need and respect their voices. Development needs to be decentralized. Avalanche has developers all over the world. And it has big companies building on top of Avalanche. Yang: From a long-term perspective, I think governance is the most important thing, which is the same as running a company. In the long run, technology is not important. Blockchain technology is developed based on an open source softwares that are free to the community. Community is also not the most important factor. I think the most important thing is governance. Decentralization is more about technical. For example, Bitcoin, through a decentralized network method, ensures the openness and transparency of data assets, and the data on the chain cannot be tampered with, ensuring that the total amount of coins has a fixed upper limit. But at the governance level, all coins are centralized at some degree. For example, BCH developers can decide to modify the protocol. In a sense, it is the same as managing a company. Historically, the reasons for the success and failure of companies all stem from bad governance. For example, Apple succeeded based on Steve Jobs’s charisma, leadership and the pursuit of user experience. When Jobs was kicked out, Apple suffered great losses. After Jobs returned, he made Apple great again. Issues behind Bitmain is also about governance. Simply put, governance requires leaders who have a longer-term vision and are more capable of coordinating and balancing the resources and interests of all parties to lead the community. In the blockchain world, many people focus on technology. In fact, technology is not enough to make great products. User experience is most important. Users don’t care about the blockchain technology itself, but more concerned about whether it is easy to use and whether it can solve my problem. We need to figure out how to deliver a product like Apple. The pursuit of user experience is also governance in nature. And governance itself lies in the soul of key leaders in the community. Realize tokenization of assets in. https://preview.redd.it/14jf1bvcaxf51.jpg?width=1082&format=pjpg&auto=webp&s=c312912142c38de986f42912086e205354162190 Wang: Speaking of asset tokenization, I would like to ask Haipo, do you think the market for assets on the chain is big? Yang: It must be very big. We need to see which assets can be tokenized. Assets that can be tokenized are standardized assets, sush as currencies and securities.
In terms of currency, Tether has issued over 10 billion U.S. dollars. Many people think that’s too much. But I think this market is underestimated. The market for stablecoins in the future must be hundreds of billions or even trillions, especially after the release of Facebook’s Libra. Even US dollar might be issued based on the blockchain in the future.
At present, the settlement of USD currency is through the SWIFT system. But the SWIFT system itself is only a clearing network, a messaging system, not a settlement network. It takes a long time for clearing and settlement, and it is not reliable. But both USDT and USDC can quickly realize cross-border transfers in seconds and realize asset delivery. Even sovereign currencies are likely to be issued on the blockchain. I believe RMB also has such a plan.
Equity and securities markets are the largest market. But they have strict requirements for market access.
Whether a stock is listed on A-shares or in the American markets, it’s hard to obtain them. I believe that the blockchain can completely release the demand through decentralization. It can allow any tiny company or even a project to issue, circulate and finance a token. There may be only tens of thousands of stocks currently traded globally. There are also tens of thousands of tokens in the crypto space. I believe that millions or more of assets will be traded and circulated in the future. This can only be realized through decentralized technology and organization. The market for assets tokenization will be huge. And at present, the entire blockchain technology is still very primitive. Bitcoin and Ethereum only have a few or a dozen TPS, which is far from meeting market demand. This is why CoinEx is committed to building a decentralized Dex public chain. Wang: Avalanche’s paper was first published on IPFS. What do you think of IPFS? Sirer: I personally like IPFS very much. It is a decentralized storage solution. Yang: There is no doubt that IPFS solves the problem of decentralized storage, and can be robust in the blockchain world, and can replace HPPT services. But there are still three problems:
IPFS is not for ordinary users. Everybody needs BCH and BTC, but only developers need IPFS, which is a relatively niche market;
IPFS is more expensive than traditional storage solutions, which further reduces its practicality. In order to achieve decentralization, more copies must be stored, and more hardware devices must be consumed. In the end, these costs will be on to users.
There may be compliance issues. If you use IPFS to store sensitive information, such as info from WikiLeaks, it may end up threatening national security. I doubt that decentralized storage and decentralized public chains can survive under the joint pressure of global governments.
The IPFS project solves certain problems. But from the perspective of application prospects, I am pessimistic. Wang: What do you think of Defi? Yang: I want to talk about the concept first. Broadly speaking, the entire blockchain industry is DeFi in nature. Blockchain is to realize the circulation of currency, equity, and asset value through decentralization. So in a broad sense, blockchain itself is DeFi. In a narrow sense, DeFi is a financial agreement based on smart contracts. DeFi, through smart contracts, can build applications more flexibly. For example, before we could only use Bitcoin to transfer and pay. Now with smart contracts, flexible functions such as lending, exchange, mortgage , etc. are available. The entire blockchain industry is gradually evolving under the conditions of DeFi. DeFi will definitely get greater development in the future. Sirer: I think Defi will definitely have a huge impact. DeFi is not only an innovation in the cryptocurrency field, but also an innovation in the financial field. Wall Street companies have stagnated for years with no innovation. Avalanche fits different DeFi needs, including performance and compliance. In the future, not only will Wall Street simply adopt DeFi, but DeFi will grow into a huge market that will eventually replace the traditional financial system. Questions from the community: 1. How does Avalanche integrate with DeFi? Sirer: At present, all DeFi applications on Avalanche have surpassed Ethereum. What can be achieved on Ethereum can be achieved on Avalanche with better user experience. We are currently connecting with popular DeFi projects such as Compound and MakerDao to add part of or all of their functions. At present, Avalanche is working on decentralized exchange (DEX). The current DEXs are limited by speed and performance but when they are built on top of Avalanche it will be real-time and very fast. 2. How many developers does BCH have? Yang: I think it does not matter how many developers there are. What matters is what should be developed. I watched Jobs’ video the other day, and it inspired me a lot. We are not piecing together technology to see what technology can do. It’s we figure out what we want first and then we use the technology we need. The entire blockchain community worship developers. Such as they call Vitalik “V God”. It’s not necessary to treat developers as wizards. Developers are programmers, and I myself is also a programmer. ViaBTC has a development team of over 100 people, including core members from Copernicus (a dev team formerly belonged to Bitmain). Technically we are very confident to build faster, stabler, and better user experience products.
My personal experience with Innosilicon A10 Pro (6G) 500Mh ASIC ethash miner
EDIT : This is about the 5G version, not the 6G. Hello, Since there is not much consumers tests online about the Innosilicon A10 (Ethmaster) Pro (5G) at 500Mh, I decided to share my personal experience through an "anonymous" account. I bought it around April 2020, arrived in May but for personal reasons I was only able to turn it on this summer :( The A10 costs me 3242 € + 70 € power supply (Innosilicon 1400W Power Supply) + shipping. I will not reveal where I bought it because this is not an ad, but it was through an european ASIC miner reseller. I know Ethereum 2.0 is coming and I'm aware this is a gamble. I would not advise you to buy it now, especially knowing Eth 2.0 is really coming now, DeFi is pushing at the gates and I heard rumors there is a 750Mh version coming up. So, it is my first ASIC miner, I did some ZEC mining with a 4 x 1080Ti mining rig two years go.
EDIT : EthToDoge pointed out in the comments that the A10 isn't an ASIC technically speaking The A10 is basically a box crammed full of laptop GPUs and some custom firmware and made to look like the Bitcoin ASICS. [Check out the comments for more information]
The A10 mining chains reboots itself every 9 hours on average. When the A10 reboots, it goes into an autotuning mode which can take up to 2 hours, but usually around 1h. When in autotuning, it starts at 0Mh and goes to it's full speed after the autotuning, not mining much during this phase because the autotuning mode causes a lot of invalid shares, up to 20% and going down to 3% when tuning is completed. The chains temperature are around 63°C, I don't know if this is the reason of the reboot. I'll try later on to get a better air flow. I fixed the temperature issue I had by placing in a better ventilated location, temperature is now around 53°C but that didn't fixed the reboot issue. miner web interface, you can see the hashrate drop due to the random reboot Performancesettings I tried balanced and factory modes, and I didn't saw much differences in the reported speed. In a near future I'll have a try with theperformancemode but I will monitor the power consumption when trying since the A10 warns me to pay attention to that when I want to enable performancemode in the web interface. The performance mode consumes around 10% to 15% more electricity than the factory mode, without noticing any difference in the hashrate or stability. I didn't had proper tools to measure the power consumption, my A10 was plugged in an UPS and it's load went from 43% usage to 55% so I'm assuming the difference is the extra power consumption. Changing performance settings causes the miner to go into autotuning. Autoupdate The firmware check is working, but I didn't manage to use the autoupdate. I had no problem to manually download the firmware and upload it, so not really a problem. My device:
Type A10L Controller Version g1 Build Date 15th of July 2020 06:13 AM Platform Version a10l_20200715_061347
EDIT : I upgraded to the new firmware a10l_20200901_053652 but that didn't fixed the reboot issue.
Ok, A little backround. I know hardware and networking. I can build just about any config of a computer. I understand overclocking and undervolting. I can invest around 2,700 for initial investment. So do I buy hardware to build a GPU miner with at least 6 cards or more? Probably RX580 as they are cheap and I have one in my rig. More on that later. Or do I a Asic miner like this I understand a GPU miner is multiple coins and not Bitcoin, and Asic is nothing but Bitcoin. I've done the math on the Asic miner and the ROI in about 3 months with a net gain of about ~10,000 USD a year @ .13 cents per Watt. I've had a hard time finding a solid or semi way of calculating the earnings for a GPU miner. Not only because it is many coins or dedicated to one coin, but there our other variables involved. However I have more control of the hardware if it fails. I dipped my toe into mining with my own rig that has a RX580 fatboy and a AMD Phenom ii x4 955 black edition. I overclocked the GPU and undervolted the CPU to reduce heat since it was hitting 62 cel. The GPU gets 12.5 sol/s and the CPU was getting ~322 h/s. All this added up to ~170 watts and a net of .00218322 BTC/Month. This was all done using Cudo as it was easy to find and setup just to test. This was just a test to see how it would work. I wouldn't use Cudo to full scale as it is a pool and the transfer to a Wallet is pretty steep in relationship to earns. I understand that in a pool you get your share based upon how much of the "work" you did to get find block. So do I build or buy? With that much computation power do I need to join a pool? What software is best for pool or alone? I am comfortable with CLI as long as it's well documented, but would like a remote GUI. Also what is the best wallet with the best fees for transactions. Currently using uphold since I use Brave. I think I covered as much as I could, if you have any questions let me know. Any advice would be great. If I should post this else where let me know please or I could just cross post it. TIA. Be safe, stay safe! Edit: Words and BTC earning was WAY off then I first typed this.
CryptoDiffer teamHello, everyone!We are glad to meet here:Max Freeman (@maxfreeman4), Project Lead at Epic CashYoga Dude (@Yogadude), PR&Marketing at Epic CashXenolink (@Xenolink), Advisor at Epic Cash Max Freeman Project Lead at Epic Cash Thanks Max, we are excited to be here! Yoga Dude PR&Marketing at Epic Cash Hello Everyone! Thank you for having us here! Xenolink Advisor at Epic Cash Thank you to the CryptoDiffer team and CryptoDiffer community for hosting us! CryptoDiffer teamLet`s start from the first introduction question:Q1: Can you introduce yourself to the community? What is your background and how did you join Epic Cash? Yoga Dude PR&Marketing at Epic Cash Hello! My background is Marketing and Business Development, I’ve been in crypto since 2011 started with Bitcoin, then Monero in 2014, Ethereum in 2015 and at some point Doge for fun and profit. I joined Epic Cash team in September 2019 handling PR and Marketing. I saw in Epic Cash what was missing in my previous cryptos — things that were missing in Bitcoin and Monero especially. Xenolink Advisor at Epic Cash Hello Cryptodiffer Community, I am not an original co-founder nor am I a developer for the Epic Cash project. I am however a community member that is involved in helping scale this project to higher levels. One of the many beauties of Epic Cash is that every single member in the community has the opportunity to be part of EPIC’s team, it can be from development all the way to content producing. Epic Cash is a community driven project. The true Core Team of Epic Cash is our community. I believe a community that is the Core Team is truly powerful. EPIC Cash has one of the freshest and strongest communities I have seen in quite a while. Which is one of the reasons why I became involved in this project. Epic displayed some of the most self community produced content I have seen in a project. I’m actually a doctor of medicine but in terms of my experience in crypto, I have been involved in the industry since 2012 beginning with mining Litecoin. Since then I have been doing deep dive analysis on different projects, investing, and building a network in crypto that I will utilize to help connect and scale Epic in every way I can. To give some credit to those people in my network that have been a part of helping give Epic exposure, I would like to give a special thanks to u/Tetsugan and u/Saurabhblr. Tetsugan has been doing a lot of work for the Japanese community to penetrate the Japanese market, and Japan has already developed a growing interest in Epic. Daku Sarabh the owner and creator of Crypto Daku Robinhooders, I would like to thank him and his community for giving us one of our first large AMA’s, which he has supported our project early and given us a free AMA. Many more to thank but can’t be disclosed. Also thank you to all the Epic Community leaders, developers, and Content producers! Max Freeman Project Lead at Epic Cash I’m Max Freeman, which stands for “Maximum Freedom for Mankind”. I started working on the ideas that would become Epic in 2018. I fell in love with Bitcoin in 2017 but realized that it needs privacy at the base layer, fungibility, better scalability in order to go to the next level. CryptoDiffer team Really interesting backgrounds I must admit, pleasure to see the team that clearly has one vision of the project by being completely decentralized:) Q2: Can you briefly describe what is Epic Cash in 3–5 sentences? What technology stands behind Epic Cash and why it’s better than the existing one? Max Freeman Project Lead at Epic Cash I’d like to highlight the differences between Epic and the two highest-valued privacy coin projects, Monero and Zcash. XMR has always-on privacy like Epic does, but at a cost: Its blockchain is over 20x more data intensive than Epic, which limits its possibilities for scalability. Epic’s blockchain is small and light enough to run a full node on cell phones, something that is in our product road map. ZEC by comparison can’t run on low end devices because of its zero knowledge based approach, and only 1% of transactions are fully private. Epic is simply newer, more advanced technology than prior networks thanks to Mimblewimble We will also add more algorithms to widen the range of hardware that can participate in mining. For example, cell phones and tablets based around ARM chips. Millions of people can mine Epic that can’t mine Bitcoin, and that will help grow the network rapidly. There are some great short videos on our YouTube channel https://www.youtube.com/channel/UCQBFfksJlM97rgrplLRwNUg/videos that explain why we believe we have created something truly special here. Our core architecture derives from Grin, so we are fortunate to benefit on an ongoing basis from their considerable development efforts. We are focused on making our currency truly usable and widely available, beyond a store of value and becoming a true medium of exchange. Yoga Dude PR&Marketing at Epic Cash Well we all have our views, but in a nutshell, we offer things that were missing in the previous cryptos. We have sound fiscal emission schedule matching Bitcoin, but we are vastly more private and faster. Our blockchain is lighter than Bitcoin or Monero and our tech is more scalable. Also, we are unique in that we are mineable with CPUs and GPUs as well as ASICs, giving the broadest population the ability to mine Epic Cash. Plus, you can’t forget FUNGIBILITY 🙂 we are big on that — since you can’t have true privacy without fungibility. Also, please understand, we have HUGE respect to all the cryptos that came before us, we learned a lot from them, and thanks to their mistakes we evolved. Xenolink Advisor at Epic Cash To add on, what also makes Epic Cash unique is the ability to decentralize the mining using a tri-algo model of Random X (CPU), Progpow (GPU), and Cuckoo (ASIC) for an ability to do hybrid mining. I believe this is an issue we can see today in Bitcoin having centralized mining and the average user has a costly barrier of entry. To follow up on this one in my opinion one of the things we adopted that we have seen success for , in example Bitcoin and Monero, is a strong community driven coin. I believe having a community driven coin will provide a more organic atmosphere especially when starting with No ICO, or Premine with a fair distribution model for everyone. CryptoDiffer team Q3: What are the major milestones Epic Cash has achieved so far? Maybe you can share with us some exciting plans for future weeks/months? Yoga Dude PR&Marketing at Epic Cash Since we went live in September of 2019, we attracted a very large community of users, miners, investors and contributors from across the world. Epic Cash is a very international project with white papers translated into over 30 languages. We are very much a community driven project; this is very evident from our content and the amount of translations in our white papers and in our social media content. We are constantly working on improving our usability, security and privacy, as well as getting our message and philosophy out into the world to achieve mass adoption. We have a lot of exciting plans for our project, the plan is to make Epic Cash into something that is More than Money. You can tell I am the Marketing guy since my message is less about the actual tech and more about the usability and use cases for Epic Cash, I think our Team and Community have a great mix of technical, practical, social and fiscal experiences. Since we opened our YouTube channels content for community submissions, we have seen our content translated into Spanish, French, German, Polish, Chinese, Japanese, Arabic, Russian, and other languages Max Freeman Project Lead at Epic Cash Our future development roadmap will be published soon and includes 4 tracks: Usability Mining Core Protocol Ecosystem Development Core Protocol Epic Server 2.9.0 — this release improves the difficulty adjustment and is aimed at making block emission closer to the target 60 seconds, particularly reducing the incidence of extremely short and long blocks — Status: In Development (Testing) Anticipated Release: June 2020 Epic Server 3.0.0 — this completes the rebase to Grin 3.0.0 and serves as the prerequisite to some important functional building blocks for the future of the ecosystem. Specifically, sending via Tor (which eliminates the need to open ports), proof of payment (useful for certain dex applications e.g. Bisq), and our native mobile app. Status: In Development (Testing) Anticipated Release: Fall 2020 Non-Interactive Transactions — this will enhance usability by enabling “fire and forget” send-to-address functionality that users are accustomed to from most cryptocurrencies. Status: Drawing Board Anticipated Release: n/a Scaling Options — when blocks start becoming full, how will we increase capacity? Two obvious options are increasing the block size, as well as a Lightning Network-style Layer 2 structure. Status: Drawing Board Anticipated Release: n/a Confidential Assets — Similar to Raven, Tari, and Beam, the ability to create independently tradable assets that ride on the Epic Blockchain. Status: Drawing Board Anticipated Release: n/a Usability GUI Wallet 2.0 — Restore from seed words and various usability enhancements — Status: Needs Assessment Anticipated Release: Fall 2020 Mobile App — Native mobile experience for iOS and Android. Status: In Development (Testing) Anticipated Release: Winter 2020 Telegram Integration — Anonymous payments over the Telegram network, bot functionality for groups. Status: Drawing Board Anticipated Release: n/a Mining RandomX on ARM — Our 4th PoW algorithm, this will enable tablets, cell phones, and low power devices such as Raspberry Pi to participate in mining. Status: Needs Assessment Anticipated Release: n/a The economics of mining Epic are extremely compelling for countries that have free or extremely cheap electricity, since anyone with an ordinary PC can mine. Individual people around the world can simply run the miner and earn meaningful money (imagine Venezuela for example), something that has not been possible since the very early days of Bitcoin. Ecosystem Development Atomic Swaps — Connecting Epic to other blockchains in a trustless way, starting with ETH so that Epic can trade on DeFi infrastructure such as Uniswap, Kyber, etc. Status: Drawing Board Anticipated Release: n/a Xenolink Advisor at Epic Cash From the Community aspect, we have been further developing our community international reach. We have been seeing an increase in interest from South America, China, Russia, Japan, Italy, and the Philippines. We are working on targeting more countries. We truly aim to be a decentralized project that is open to everyone worldwide. CryptoDiffer team Great, thank you for your answers, we now can move to community questions part! Cryptodiffer Community You have 3 mining algorithms, the question is: how do they not compete with each other? Is there any benefit of mining on the GPU and CPU if someone is mining on the ASIC? Max Freeman Project Lead at Epic Cash The block selection is deterministic, so that every 100 blocks, 60% are for RandomX (CPU), 38% for ProgPow (GPU), and 2% for Cuckoo (ASIC) — the policy is flexible so that we can have as many algorithms with any percentages we want. The goal is to make the most decentralized and resilient network possible, and with that in mind we are excited to work on enabling tablets and cell phones to mine, since that opens it up to millions of people that otherwise can’t take part. Cryptodiffer Community To Run a project smoothly, Funding is very important, From where does the Funding/revenue come from? Xenolink Advisor at Epic Cash Yes, early on this was realized and in order to scale a project funds are indeed needed. Epic Cash did not start with any funding and no ICO and was organically genesis mined with no pre-mine. Epic cash is also a nonprofit community driven project similar to Monero. There is no profit-driven entity in the picture. To overcome the revenue issue Epic Cash setup a development fund tax that decreases 1% every year until 2028 when Epic Cash reaches singularity with Bitcoin emissions. Currently it is at 7.77%. This will help support the scaling of the project. Cryptodiffer Community Hi! In your experience working also with MONERO can you please clarify which are those identified problems that EPIC CASH aims to develop and resolve? What’s the main advantage that EPIC CASH has over MONERO? Thank you! Yoga Dude PR&Marketing at Epic Cash First, I must admit that I am still a huge fan and HODLer of Monero. That said: ✅ our blockchain is MUCH lighter than Monero’s ✅ our transaction processing speed is much faster ✅ our address-less blockchain is more private ✅ Epic Cash can be mined with CPU (RandomX) GPU (ProgPow) and Cuckoo, whereas Monero migrated to RandomX and currently only mineable with CPU Cryptodiffer Community
the feature ‘Cut Through’ deletes old data, how is it decided which data will be deletes, and what are the consequences of it for the platform and therefore the users?
On your website I see links to download Epic wallet and mining software for Linux,Windows and MacOs, I am a user of android, is there a version for me, or does it have a release date?
Max Freeman Project Lead at Epic Cash
This is one of the most exciting features of Mimblewimble, which is its extraordinary ability to compress blockchain data. In Bitcoin, the entire history of a coin must be replayed every time it is spent, and comprehensive details are permanently stored in the blockchain. Epic discards spent transaction inputs and consolidates outputs, storing neither addresses or amounts, only a tiny kernel to allow sender and receiver to prove their transaction.
The Vitex mobile app is great for today, and we have a native mobile app for iOS and Android in the works as well.
Cryptodiffer Community $EPIC Have total Supply of 21,000,000 EPIC , is there any burning plan? Or Buyback program to maintain $EPIC price in the future? Who is Epic Biggest competitors? And what’s makes epic better than competitors? Xenolink Advisor at Epic Cash We respect the older generation coins like Bitcoin. But we have learned that the supply economics of Bitcoin is very sound. Until today we can witness how the Bitcoin is being adopted institutionally and by retail. We match the 21 million BTC supply economics because it is an inelastic fixed model which makes the long-term economics very sound. To have an elastic model of burning tokens or printing tokens will not have a solid economic future. Take for example the USD which is an inflating supply. In terms of competitors we look at everyone in crypto with respect and also learn from everyone. If we had to compare to other Mimblewimble tech coins, Grin is an inelastic forever inflating supply which in the long term is not sound economics. Beam however is an inelastic model but is formed as a corporation. The fair distribution is not there because of the permanent revenue model setup for them. Epic Cash a non-profit development tax fund model for scaling purposes that will disappear by 2028’s singularity. Cryptodiffer Community What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Yoga Dude PR&Marketing at Epic Cash Since we are a community project, we have many developers, in addition to the core team. Our plans for Global expansion are simple — we have advocates in different regions addressing their audiences in their native languages. We are growing organically, by explaining our ideology and usability. The idea is to grow beyond needing a fiat bridge for crypto use, but to rather replace fiat with our borderless, private and fungible crypto so people can use it to get goods and services without using banks. We are not limiting ourselves to one particular demographic — Epic Cash is a valid solution for the gamers, investors, techie and non techie people, and the unbanked. Cryptodiffer Community EPIC confidential coin! Did you have any problems with the regulators? And there will be no problems with listing on centralized exchanges? Xenolink Advisor at Epic Cash In terms of structure, we are carefully set up to minimize these concerns. Without a company or investors in the picture, and having raised no funds, there is little scope to attack in terms of securities laws. Bitcoin and Ethereum are widely acknowledged as acceptable, and we follow in their well-established footprints in that respect. Centralized exchanges already trade other privacy coins, so we don’t see this as much of an issue either. In general, decentralized p2p exchange options are more interesting than today’s centralized platforms. They are more censorship resistant, secure, and privacy-protecting. As the technology gets better, they should continue to gain market share and that’s why we’re proud to be partnered with Vitex, whose exchange and mobile app work very well. Cryptodiffer Community What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment? Max Freeman Project Lead at Epic Cash Because our blockchain is so light (only 1.16gb currently, and grows very slowly) it is naturally well suited to become a decentralized mobile money standard because people can run a full node on their phone, guaranteeing the security of their funds. Scalability in Bitcoin requires complicated and compromised workarounds such as Lightning Network and light clients, and these problems are solved in Epic. With our forthcoming Mobile Mining app, hundreds of millions of cell phones and tablets will be able to easily join the network. People can quickly and cheaply send money to one another, fulfilling the long-envisioned promise of P2P electronic cash. As an investor, it’s important to ask a few key questions. Bitcoin Standard tokenomics of disinflation and a fixed supply are well proven over a decade now. We follow this model exactly, with a permanently synchronized supply from 2028, and 4 emission halvings from now until then, with our first one in about two weeks. Beyond that, we can apply some simple logical tests. What is more valuable, money that can only be used in some cases (censorable Bitcoin based on a lack of fungibility) or money that can be used universally? (fungible Epic based on always-on privacy by default). Epic is also poised to be a more decentralized and therefore resilient network because of wider participation in mining. Epic is designed to be Bitcoin++ Privacy, Fungibility, Scalability Cryptodiffer Community Q1. What are advantages for choosing three mining algorithms RandomX+, ProgPow and CuckAToo31+ ? Q2. Beam and Grin use MimbleWimble protocol, so what are difference for Epic? All of you will be friends for partners or competitors? Max Freeman Project Lead at Epic Cash RandomX and ProgPow are designed to use the entirety of a CPU / GPU’s unique processing capabilities in a way that other types of hardware don’t work as well. You can run RandomX on a GPU but it doesn’t work nearly as well as a much cheaper CPU, for example. Cuckoo is a “memory hard” algorithm that widens the range of companies that can produce the hardware. Grin and Beam are great projects and we’ve learned a lot from them. We inherited our first codebase from Grin’s excellent Rust design, which is a better language for community participation than C++ that Beam currently uses. Functionally, Mimblewimble is similar across the 3 coins, with standard Confidential Transactions, CoinJoin, Dandelion++, Schnorr Signatures and other advanced features. Grin is primarily ASIC-targeted, Beam is GPU-targeted, and Epic is multi-hardware. The biggest differences though are in tokenomics and project structure. Grin has permanent inflation of 60 coins per block with no halvings, which means steady erosion of value over time due to new supply pressure. It also lacks a steady funding model, making future development in jeopardy, particularly as the per coin price falls. Beam has a for-profit model with heavy early inflation and a high developer tax. Epic builds on the strengths of these earlier mimblewimble projects and addresses the parts that could be improved. Cryptodiffer Community Some privacy coin has scalability issues! How Epic cash will solve scalability issues? Why you choose randomX consensus algorithem? Xenolink Advisor at Epic Cash Fungibility means that you can’t distinguish one unit of currency from another, in example Gold. Fungibility has recently become a hot issue as people have been noticing Bitcoins being locked up by exchanges which may of had a nefarious history which are called Tainted Coins. In example coins that have been involved in a hack, darknet market transactions, or even processing coin through a mixer. Today we can already see freshly mined Bitcoins being sold at a premium price to avoid the fungibility problem Bitcoin carries today. Bitcoin can be tracked by chainalysis and is not a fungible cryptocurrency. One of the features that Epic has is privacy with added fungibility, because of Mimblewimble technology, Epic has no addresses recorded and therefore nothing can be tracked by chainalysis. Below I provide a link of an example of what the lack of fungibility is resulting in today with Bitcoin. One of the reasons why we chose the Random X algo. is because of the easy barrier of entry and also to further decentralize the mining. Random X algo can be mined on old computers or laptops. We also have 2 other algos Progpow (GPU), and Cuckoo (ASIC) to create a wider decentralization of mining methods for Epic. Cryptodiffer Community I’m a newbie in crypto and blockchain so how will Epic Cash team target and educate people who don’t know about blockchain and crypto? What is the uniqueness of Epic Cash that cannot be found in other project that´s been released so far ? Yoga Dude Pr&Marketing at Epic Cash Actually, while we have our white paper translated into over 30 languages, we are more focused on explaining our uses and advantages rather than cold specs. Our tech is solid, but we not get hung up on pure tech talk which most casual users do not need to or care to understand. As long as our fundamentals and tech are secure and user friendly our primary goal is to educate about use cases and market potential. The uniqueness of Epic Cash is its amalgamation of “whats good” in other cryptos. We use Mimblewimble for privacy and anonymity. Our blockchain is much lighter than our competitors. We are the only Mimblewimble crypto to use a unique cocktail of mining algorithms allowing to be mined by casual miners with gaming rigs and laptops, while remaining friendly to GPU and CPU farmers. The “uniqueness” is learning from the mistakes of those who came before us, we evolved and learned, which is why our privacy is better, we are faster, we are fungible, we offer diverse mining and so on. We are the best blend — thats powerful and unique Cryptodiffer Community Can you share EPIC’s vision for decentralized finance (DEFI)? What features do EPIC have to support DEFI? Yoga Dude PR&Marketing at Epic Cash We view Epic as ideally suited to be the decentralized digital reserve asset of the new Private Internet of Money that’s emerging. At a technology level, atomic swaps can be created to build liquidity bridges so that wrapped Epic tokens (like WBTC, WETH) can trade on other networks as ERC20, BEP2, NEP5, VIP180, Algorand and so on. There is more Bitcoin value locked on Ethereum than in Lightning Network, so we will similarly integrate Epic so that it can trade on networks such as Uniswap, Kyber, and so on. Longer term, if there is market demand for it, thanks to Scriptless Script functionality our blockchain has, we can build “Confidential Assets” (which Raven, Tari, and Beam are all also working on) that enable people to create tokenized assets in a private way. Cryptodiffer Community If you could choose one celebrity to promote Epic-cash, who that would be? Max Freeman Project Lead at Epic Cash I am a firm believer that the strength of the project lies in allowing community members to become their own celebrities, if their content is good enough the community will propel them to celebrity status. Organic celebrities with small but loyal following are vastly more beneficial than big name professional shills with inflated but non caring audiences. I remember the early days of Apple when an enthusiastic dude named Guy Kawasaki became Apple Evangelist, he was literally going around stores that sold Apple and visited user groups and Evangelized his belief in Apple. This guy became a Legend and helped Apple become what it is today. Epic Cash will have its OWN Celebrities Cryptodiffer Community How does $EPIC solve scalability of transactions? Current blockchains face issues with scalability a lot, how does $EPIC creates a solution to it? Xenolink Advisor at Epic Cash Epic Cash is utilizing Mimblewimble technology. Besides the privacy & fungibility aspect of the tech. There is the scalability features of it. It is implemented into Epic by transaction cut-through. Which means it allows nodes to remove all intermediate transactions, thus significantly reducing the blockchain size without affecting its validation. Mimblewimble also does not use addresses like a BTC address, and amount of transactions are also not recorded. One problem Monero and Bitcoin are facing now is scalability. It is evident today that data is getting more expensive and that will be a problem in the long run for those coins. Epic is 90% lighter and more scalable compared to Monero and Bitcoin. Cryptodiffer Community what are the ways that Epic Cash generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ? Max Freeman Project Lead at Epic Cash There is a block subsidy of 7.77% that declines 1.11% per year until 0, where it stays after that. As a nonprofit community effort, this extremely modest amount goes much further than in other projects, which often take 20, 30, even 50+ % of the coin supply. We believe that this ongoing funding model best aligns the long term incentives for all participants and balances the compromises between the ends of the centralized/decentralized spectrum of choices that any project must make. Cryptodiffer Community Q1 : What are your major goals to archive in the next 3–4 years? Q2 : What are your plans to expand and gain more adoption? Yoga Dude Pr&Marketing at Epic Cash Max already talked about our technical plans and goals in his roadmap. Allow me to talk more about the non technical 😁 We are aiming for broader reach in the non technical more mainstream community — this is a big challenge but we believe it is doable. By offering simpler ways to mine Epic Cash (with smart phones for example), and by doing more education we will achieve the holy grail of crypto — moving past the fiat bridges and getting Epic Cash to be accepted as means of payment for goods and services. We will accomplish this by working with regional advocacy groups, community interaction, off-line promotional activities and diverse social media targeting. Cryptodiffer Community It seems to me that EpicCash will have its first Halving, right? Why a halving so soon? Is a mobile version feasible? Max Freeman Project Lead at Epic Cash Our supply emission catches up to that of Bitcoin’s first 19 years after 8 years in Epic, so that requires more frequent halvings. Today’s block emission is 16, next up are 8, 4, 2, and then finally 0.15625. After that, the supply of Epic and that of BTC stay synchronized until maxing out at 21m coins in 2140. Today we have a mobile wallet through the Vitex app, a native mobile wallet coming, and are working on mobile mining. Cryptodiffer Community What markets will you add after that? Yoga Dude PR&Marketing at Epic Cash Well, we are aiming to have ALL markets Epic Cash in its final iteration will be usable by everyone everywhere regardless of their technical expertise. We are not limiting ourselves to the technocrats, one of our main goals is to help the billions of unbanked. We want everyone to be able to mine, buy, and most of all USE Epic Cash — gamers, farmers, soccer moms, students, retirees, everyone really — even bankers (well once we defeat the banking industry) We will continue building on the multilingual diversity of our global community adding support and advocacy groups in more countries in more languages. Epic Cash is More than Money and its for Everyone. Cryptodiffer Community Almost, all cryptocurrencies are decentralized & no-one knows who owns that cryptocurrencies ! then also, why Privacy is needed? hats the advantages of Private coins? Max Freeman Project Lead at Epic Cash With a public transparent blockchain such as Bitcoin, you are permanently posting a detailed history of your money movements open for anyone to see (not just legitimate authorities, either!) — It would be considered crazy to post your credit card or bank statements to Twitter, but that’s what is happening every time you send a transaction that is not private. This excellent video from community contributor Spencer Lambert https://www.youtube.com/watch?v=0blbfmvCq\_4 explains better than I can. Privacy is not just for criminals, it’s for everyone. Do you want your landlord to increase the rent when he sees that you get a raise? Your insurance company to raise your healthcare costs because they see you buying too much ice cream? If you’re a business, do you want your employees to see how much money their coworkers make? Do you want your competitors to trace your supplier and customer relationships? Of course not. By privacy being default for everyone, cryptocurrency can be used in a much wider range of situations without unacceptable compromises. Cryptodiffer Community What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment? Xenolink Advisor at Epic Cash Epic Cash can be used as a Private and Fungible store of value, medium of exchange, and unit of account. As Epic Cash grows and becomes adopted it can be compared to how Bitcoin and Monero is used and adopted as well. As Epic is adopted by the masses, it can be accepted as a medium of exchange for store owners and as fungible payments without the worry of having money that is tainted. Epic Cash as a store of value may be a good long term aspect of investment to consider. Epic Cash carries an inelastic fixed supply economic model of 21 million coins. There will be 5 halvings which this month of June will be our first halving of epic. From a block reward of 16 Epic reduced to 8. If we look at BTC’s price action and history of their halvings it has been proven and show that there has been an increase in value due to the scarcity and from halvings a reduction of # of BTC’s mined per block. An inelastic supply model like Bitcoin provides proof of the circulating supply compared to the total supply by the history of it’s Price action which is evident in long term charts since the birth of Bitcoin. EPIC Plans to have 5 halvings before the year 2028 to match the emissions of Bitcoin which we call the singularity event. Below is a chart displaying our halvings model approaching singularity. Once bitcoin and cryptocurrency becomes adopted mainstream, the fungibility problem will be more noticed by the general public. Privacy coins and the features of fungibility/scalability will most likely be sought over. Right now a majority of people believe that all cryptocurrency is fungible. However, that is not true. We can already see Chainalysis confirming that they can trace and track and even for other well-known privacy coins today such as Z-Cash. Cryptodiffer Community
You aim to reach support from a global community, what are your plans to get spanish speakers involved into Epic Cash? And emerging markets like the african
How am I secure I won’t be affected by receiving tainted money?
Max Freeman Project Lead at Epic Cash Native speakers from our community are working to raise awareness in key markets such as mining in Argentina and Venezuela for Spanish (Roberto Navarro called Epic “the holy grail of cryptocurrency” and Ethiopia and certain North African countries that have the lowest electricity costs in the world. Remittances between USA and Latin American countries are expensive and slow, so Epic is also perfect for people to send money back home as well. Cryptodiffer Community Do EPICs in 2020 focus more on research and coding, or on sales and implementation? Yoga Dude PR&Marketing at Epic Cash We will definitely continue to work on research and coding, with emphasis on improved accessibility (especially via smartphones) usability, security and privacy. In terms of financial infrastructure will continuing to add exchanges both KYC and non KYC. Big part of our plans is in ongoing Marketing and PR outreach. The idea is to make Epic Cash a viral sensation of sorts. If we can get Epic Cash adopters to spread the word and tell their family, coworkers and friends about Epic Cash — there will be no stopping us and to help that happen we have a growing army of content creators, and supporters. Everyone with skin in the game gets the benefit of advancing the cause. Folks also, this isn’t an answer to the question but an example of a real-world Epic Cash content — https://www.youtube.com/watch?v=XtAVEqKGgqY a challenge from one of our content creators to beat his 21 pull ups and get 100 epics! This has not been claimed yet — people need to step up 🙂 and to help that I will match another 100 Epic Cash to the first person to beat this Cryptodiffer Community I was watching some videos explaining how to send and receive transactions in EpicCash, which consists of ports and sending links, my question is why this is so, which, for now, looks complex? Let’s talk about the economic model, can EpicCash comply with the concept of value reserve? Max Freeman Project Lead at Epic Cash In V3, which is coming later this summer, Epic can be sent over Tor, which eliminates this issue of port opening, even though using tools like ngrok.io, it’s not necessarily as painful as directly configuring the router ports. Early Lightning Network had this issue as well and it’s something we have a plan to address via research into non-interactive transactions. “Fire and Forget” payments to an address, as people are used to in Bitcoin, is coming to Epic and we’re excited to develop functionality that other advanced mimblewimble coins don’t yet have. We are committed to constant improvement in usability and utility, to make our money system the ease of use leader. We are involved in the project (anyone can join the Freeman Family) because we believe that simply by choosing to use a form of money that better aligns with our ideals, that we can make a positive change in the world. Some of my thoughts about how I got involved are here: https://medium.com/epic-cash/the-freeman-family-e3b9c3b3f166 Max Freeman Project Lead at Epic Cash Huge thanks to our friends Maks and Vladyslav, we welcome everyone to come say hi at one of our friendly communities. It is extremely early in this journey, our market cap is only 0.5m right now, whereas the 3 other mimblewimble coins are at $20m, $30m and $100m respectively. Epic is a historic opportunity to follow in the footsteps of legends such as Bitcoin and Monero, and we hope to become the first Top 5 privacy coin project. Xenolink Advisor at Epic Cash Would like to Thank the Cryptodiffer Team and the Cryptodiffer community for hosting us and also engaging with us to learn more about Epic. If anyone else has more questions and wants to know more about EPIC , can find us at our telegram channel at https://t.me/EpicCash . Yoga Dude Pr&Marketing at Epic Cash Thank you, CryptoDiffer Team, and this wonderful Community!!! Cryptodiffer TEAM Thank you everyone for taking your time and asking great questions Thank you for your time, it was an insightful session Spread the love
Building an Ethereum Mining Rig (13 GPU) - 4th part
Third update to the guide "Building a Mining Rig for Ethereum". The absolute first guide to building a RX Vega 64 8gb 13 GPU Mining Rig. Reading this guide to building a 13 GPU Ethereum mining rig requires adequate knowledge of building and running an Ethereum Mining Rig. We therefore recommend a previous view of our Guide to build a Mining Rig and related updates. Let's immediately list the hardware used: - Asus Mining Master X370 mainboard - Core i5 Coffee Lake CPU - 480 or 500GB SSD - 32Gb Ram - 13 GPU RX Vega 64 8Gb - 3 x 1000W power supplies - 1 1200W power supply - 8Gb USB stick In this guide we will obviously not explain how to mount the hardware of a Rig. The only notes we wish to underline are the following: - the 1200W power supply must be the primary one on which to connect 4 GPUs and the video output for the monitor - all the risers, as well as obviously the GPUs, must be powered through the 8-pole connections of the power supplies. We strongly advise against the use of 6-pole ports. Therefore, have the appropriate number of cables available for all connections. Risers can also be powered in pairs. - the model of the video card used is the Asus Rog Strixx Gaming RX Vega 64 8Gb The operating system is Windows 10 updated to the latest version available. The tool for creating installation media is available at the following link https://www.microsoft.com/it-it/software-download/windows10 to be able to use the USB key as a launcher for installing Windows 10 . With the Asus Mining Master, the GPU risers can be connected directly to the motherboard via the USB cable, thus making one of the small components of the riser kits unusable. After making all the connections on the motherboard, check that all GPUs are highlighted in green when the PC starts up. If not, move the USB cable on the motherboard one position. It may take at least 2 or 3 attempts. Ethereum mining with 13 GPUs Having solved this possible small inconvenience, let's proceed with the installation of the AMD Adrenaline 2020 drivers, always updated to the latest version, relating to the RX Vega Series. If you want to proceed with more caution, the advice is to disconnect all the GPUs (remembering the locations of the USB cables) except one before installing the drivers. The mining will be carried out on the Ethermine pool, our favorite, using the Claymore 15 software. Once the download is complete, you will have to unzip the folder on the desktop and open the start.bat file contained in the Claymore folder using Notepad. The procedure is the usual one: delete the content and copy-paste the following command string: start config.dll -epool eu1.ethermine.org:14444 -ewal "your ETH wallet address" -epsw x -worker "worker" EthDcrMiner64.exe Where EthDcrMiner64.exe is the executable, -epool indicates the pool to mine and its port, -ewal is the wallet address and -epsw is the password that we leave blank (X). In place of "your wallet address" you will have to put your Ethererum wallet and instead of worker you will enter an identification number in case you plan to build more RIGs (such as RIG1, RIG2, etc ...). At the following link, many other useful commands for your Rig: https://github.com/Claymore-Dual/Claymore-Dual-Miner Try to run mining and check that the system is stable. In the Payouts section, after a few minutes of mining, you can decide the minimum amount of Ether to be sent to your wallet by simply entering the IP address of the RIG. We performed the mining directly on the Ethereum address of the Exodus wallet. Coinbase is not supported. Overclocking with OverdriveNTool Let's proceed now with the download of OverdrivenTool at the following link: https://forums.guru3d.com/threads/overdriventool-tool-for-amd-gpus.416116/ For those unfamiliar with it, we recommend reading our software guide. For those who do not intend to experiment or do not completely trust their software experience, at the following link you can view the settings on the parameters of the GPUs and the RAM of the GPUs - and other small tricks - to obtain the best possible performance without forcing the cards too much. video. On our Youtube channel (subscribe numerous !!!) you will now be able to see the video relating to the start of mining and the one concerning the stabilization phase. To better cool the Rig we have also installed fans for the extraction of heat as caution is never too much. Moreover, there is also an aesthetic gain. Conclusions on the guide to build a 13 gpu ethereum mining rig. Finally, we conclude this guide by reporting what everyone was waiting for (we do not say how long we had to wait before obtaining this result) the video link complhttps: //www.youtube.com/watch? V = k53XZn3zc9I & t = 61seto del Rig e del Mining . We remain available for any advice, both on pools, on yield and on consumption. Feel free to contact us in case you run into any problems where our guide to Building a 13 GPU Ethereum Mining Rig has not been completely helpful. See you soon. If you liked this article and would like to contribute with a donation: Bitcoin: 1Ld9b165ZYHZcY9eUQmL9UjwzcphRE5S8Z Ethereum: 0x8D7E456A11f4D9bB9e6683A5ac52e7DB79DBbEE7 Litecoin: LamSRc1jmwgx5xwDgzZNoXYd6ENczUZViK Stellar: GBLDIRIQWRZCN5IXPIKYFQOE46OG2SI7AFVWFSLAHK52MVYDGVJ6IXGI Ripple: rUb8v4wbGWYrtXzUpj7TxCFfUWgfvym9xf By: cryptoall.it Telegram Channel: t.me/giulo75 Netbox Browser: https://netbox.global/PZn5A Horizen Faucet: https://getzen.cash/auth/register?ref=153228
I earned about 4000% more btc with my android tablet than with a $250 ASIC mini rig setup using GekkoScience Newpac USB miners!
Requirements: 1.) Android Device with access to Google Play Store. *I haven't tried yet but you may be able to use tis on Android TV devces as well by sideloading. If anyone has success before I try, let me know! -Note, I did this with a Samsung Galaxy Tab S6 so its a newer more powerful device. If your android is older, your profts will most likely be less than what I earned but to give a projected range I also tested on my Raspberry Pi 4 running a custom LineageOS rom that doesn't allow the OS to make full use of the Pi's specs and I still got 500 h/s on that with Cloud boost, so about 60% of what my Tab 6 with MUCH Higher Specs does. **Hey guys. Before I get started i just wanted to be clear about one thing. Yes I have seen those scammy posts sharing "miracle" boosts and fixes. I have a hard time believing stuff online anymore. But this is honestly real. Ill attach photos and explain the whole story and process below. Thanks for taking the time to read and feel free to share any thoughts, concerns, tips, etc* So last week I finally got started with my first mini rig type mining build. I started getting into crypto about a year ago and it has taken me a long time to even grasp half of the projects out there but its been fun thus far! Anyways my rig was 2 GekkoScience Newpac USB miners, a Moonlander USB miner to pair with an FPGA i already had mining, a 10 port 60W 3.0 USB hub and 2 usb fans. The Newpacs actually are hashing at a combined 280 g/s which is actually better than their reported max hash rate when overclocked. Pleasant surpise and they are simple!! I just wanted to get a moonlander because my fpga already mines on Odocrypt for DGB and I just wanted to experience Scrypt mining and help build the DGB project. The Newpacs are mining BTC though. After I got everything up and running i checked my payout daily average after 1 week. I averaged .01 a day TOTAL between all three miners with them all perforing ABOVE SPEC!!! I had done research so i knew I wouldnt earn much. More than anything i just wanted to learn. But still. I was kinda surprised in a negative way. Yesterday I actually earned less than .01 Frustrated I went back to scouring the web for new ideas. About a year ago, when II was starting, I saw an app on my iphone called CryptoBrowser that claimed to mine btc on your phone without actually using phone resources using a method of cloud mining. I tried it for a week and quit because I earned like .03 after a ton of use and seemed scammy. Plus my iphone actually would get very hot when doing this so I quit using it as it seemed like a possible scam with all the cryptonight browser mining hacks and malware out there. Anyways I was on my Galaxy Tab S6 and saw that CryptoBrowser released a "PRO" edition for 3.99 on Google Play. I bought it for Sh*ts and giggles and booted it up. It came with what they called "Cloud Boost" Essentially this is a button you press and it multiplys the estimated hashrate that it gives you device by the number shown on the boost button. (With the purchase of PRO you get one free x10 boost. You can purchase additional boosts to use with other android devices but those are actually pretty pricy. Another x10 boost was like $25 if i remember correctly). I played with it for about an hour to see if it actually worked like it said it would this time. To my surprise, as i was browsing, my device didnt increase in temperature AT ALL!!!!! I checked my tast manager to confirm and it was indeed true, my memory and usage barely went up. it was giving me an estimated range of 80-105 on the hashrate. Once i pushed the x10 boost button, that went to 800-1150 h/s. I switched my screen to not go to sleep, plugged it to the charge and let it run on the browser page, hashing. When you push the boost button, it runs for 3 hours at the boosted speeds. After that it goes back to normal but if you press the button again, it boosts everything again. There is no limit to how many times you use it. After checking what I earned after 24 hours, I HAD MADE .40 in BTC!!!!! I JUST EARNED OVER 4000% MORE THAN MY $280 MINING RIG EARNED ME!!!! I was blown away. Maybe this was a fluke? I did it again next day. Every 3 hours or so I would push the button again but thats all. Sure enough, .35 that day. Also, it realy BTC. I requested a payout and although it took like 12 hours for them to send me an email stating they had just sent it, I actually did recieve the state amount of BTC within 24 hours in my personal wallet. The fees to send are SUPER LOW!. Like .01 Below I will list the steps I took, along with an explanation of thier "Mining" process on Androids. Reminder, this ONLY WORKS ON ANDROIDS. Also DO NOT use cryptobrowser on a physcal laptop or desktop. I ran it on an old laptop for three days last year and it fried it. It does actually use your hardware on those platforms to mine and it is not efficnet at all as I suspect they prob steal over half of your power for themselves using the REAL RandomX protocol via browser mining which is EXTREMELY INEFFICIENT DONT TRY IT!! -----How To Do This Yourself: Cryptotab Browser states the program works on Android devices by estimating what it thinks the hashrate would be for your device specs and siimulates what you would mine in a remote server however you still earn that estimated coin amount. It is not a SHA-256 process or coin that they say is mining, rather it is XMR and they swap that and pay it out to you in BTC Bitcoin. However I know damn well my Tab S6 doesnt hash 80-105 h/s on RandomX because I have done it with a moodified XMRig module i ported to Android. I got 5 h/s a sec if I was getting any hashes at all. But thats besides the point as I still was making money. Now, when you press that cloud boost button it immediately boosts that hash rate it estimates by the number on the cloud boost. As stated above, you can purchase more boosts and gift them or use them on extra android devices that you may have. Again, they are pricey so I'm not doing that plus it would just mean that I have another device that I have to leave on and open. The boosts come in x2, x4, x6, x8 and x10 variants. Again, they have unlimited uses. Here is the link to grab yourself CryptoBrowser Pro from CryptoTab. This IS A REFERRAL LINK! This is where I benefit from doing tis tutorial. Like i said, I want to be transparent as this is not a scam but I'm also not doing this out of the love of my heart. Their referral system works in that people that use the donwload the app using your link are your stage 1 referrals. Anytime they are mining, you earn a 15% bonus. So say they mine $.30 one day. You would get paid out an additional $.045 in your own balance (it does not come out of the referred user balance fyi so no worries). Then lets say that referred miner also gets their own referrals. I would get a 10% bonus on whatever THOSE people mine. This goes on and on for like 8 tiers. Each tier the bonus percntage essential halves. So again, I stand to benefit from this but it also is stupid to not make this visible as its WAY CHEAPER, EASIER AND MORE PROFITABLE TO GET BTC USING THIS METHOD THAN IT IS USING ASICS!! THIS EARNS ALMOST AS MUCH BTC AS AN ANTMINER S7 DOES RUNNING 24/7 ONLY WITHOUT THE HUGE ELLECTRICTY BILL AND COSTS!!!!) Thats it. Again, if you have concerns, let me know or if you have suggestions, other tips, etc... mention those as well!!! https://cryptotabbrowser.com/8557319 Links to Picture Proof http://imgur.com/gallery/P13bEsB
We present the complete guide to overclocking GPUs with OverdriveNTool for your Ethereum Mining Rig! In this special we will write a complete guide to OverdriveNTool, in our opinion the most efficient, fast and immediate software for overclocking GPUs dedicated to mining. The interface is presented in a very simple and no-frills way, as if to suggest how much the program was created to go directly to the purpose. We remind you that after installing the drivers (see our guide to build a 6 GPU Ethereum Mining Rig) you will need to go through the Radeon Settings (Radeon Settings), select Game, Global Settings and for each GPU in your mining rig (or mining rig) you will need to make sure that HBCC memory is disabled. Do the same with the Crossfire option, checking that it is also disabled. Reboot the system and verify that all video cards have indeed not enabled HBCC and Crossfire before proceeding. At the following link the software download and technical specifications: https://forums.guru3d.com/threads/overdriventool-tool-for-amd-gpus.416116/ Recall that the GPUs in Atiflash will numerically correspond to the GPUs in ONT and Claymore, without misalignment. First we open our BIOS previously modified with Bios Polaris or, possibly, a stable Bios Mod downloaded from specialized sites such as Anorak via ONT. However, we can also overclock the original Bios of the GPU. Follow the OverdriveNTool guide carefully when operating at these levels! Click on New to create a new profile for the selected GPU. At first you will find yourself on the 0 which will correspond to the 0 in Atiflash and Claymore. I repeat once again: identical GPUs can behave differently; for this reason, the most stable final overclocking may vary from card to card. It will be sufficient to load the first profile on each subsequent tab, select New, make the necessary changes and save it with a different name (possibly recognizable, such as GPU1-OC Memory or GPU2-Temp, etc ...). The stages of the GPU and Ram. On the left we find the stages or clocks of the GPU with relative voltage for each sector. Some users disable the first 6 stages (from P1 to P6) to ensure that once the command for the minion is executed, the GPU immediately goes to the last stage. For those who, like us, restart the RIG once every 2 or 3 days, or even more, it is an unnecessary procedure. We recommend, at least for the first tests, to leave them activated. Once you have reached the limit of the video card, you can check whether disabling them will bring some improvement in terms of hashing on the screen without the pool being affected. Because in effect our goal is to have a high hash-rate and with a minimum percentage of errors on the pool even at the expense of a lower hash-rate in our RIG. In the central part we find the speed of the memory divided into 3 sectors. We will operate directly on the latter. On the right you can see the speed of the fans, the temperature that the fans must maintain (in our bios-mode it is set at 75 ° to which we obviously never arrived), the acoustic limit (in a RIG it is a parameter to always keep consideration). The last section at the bottom right, the Power, is divided into the maximum reachable temperature (with our Pulse set at 84 ° while with the XFX at 75 °) and the Power Target, strictly linked to the modified Bios that we are overclocking . You can try at the end of all tests, in the event of instability of one or more GPUs, to give less power starting from -25%. In this guide we will refer to the XFX RX 580 8GB GDDR5, with GPU clock at 1200Mhz and Memory at 2150Mhz. 8 video cards theoretically identical in total. Let's put into practice what has been written up to now ... We immediately opted for blocking the stages by operating directly on the latter for both the GPU Clock and the RAM. From these levels it starts to drop with the voltage of both the GPU and the RAM, alternatively always checking hashing, consumption and the stability of the system (usually 5-10 minutes are enough). When the voltage is too low, the GPU will not start undermining. The goal is to obtain the best performance / consumption ratio, always parameterizing the results obtained on the pool. A very high hashrate or very low consumption can often create numerous errors in the mining phase. With 8 RX580 8GB video cards we reached a total consumption (thus including all the components of the RIG) of 770 Watts for an average of less than 100 Watts per GPU. The result was achieved by bringing the GPU clock voltage to 1000 and the RAM to 900. Lower values are theoretically possible but could cause system instability. As mentioned previously, each video card is different from the others and on one of the eight GPUs we were forced to lower the power by 25%. After these tweaks, we got results on the pool with a hashrate often higher than 240mhs. We would like to emphasize that GPU overclocking is the absolute operation that will take you the longest time. It can take hours to reach the so-called "sweet spot" of each video card. Our OverdriveNTool guide will surely help you! But this achievement will give you great satisfaction, we guarantee it. Below the stable settings for the RX Vega 64 video cards of our 13 GPU Mining Rig of which you can see some videos on our YouTube channel: https://www.youtube.com/channel/UCdE9TTHAOtyKxy59rALSprA Complete Guide to OverdriveNTool See you soon for the next guide dedicated to mining! If you liked this article and would like to contribute with a donation: Bitcoin: 1Ld9b165ZYHZcY9eUQmL9UjwzcphRE5S8Z Ethereum: 0x8D7E456A11f4D9bB9e6683A5ac52e7DB79DBbEE7 Litecoin: LamSRc1jmwgx5xwDgzZNoXYd6ENczUZViK Stellar: GBLDIRIQWRZCN5IXPIKYFQOE46OG2SI7AFVWFSLAHK52MVYDGVJ6IXGI Ripple: rUb8v4wbGWYrtXzUpj7TxCFfUWgfvym9xf By: cryptoall.it Telegram Channel: t.me/giulo75 Netbox Browser: https://netbox.global/PZn5A
What’s the difference between a 15 BTC and 35 BTC farm?
Hello Bitfriends I’m a long term holder from years ago, and have about 35 BTC under my control. I want to use the 35 Bitcoins to build a Mining farm business. My research leads me to believe that at this budget, I’m best to fit out a 20 foot or 40 foot shipping container with electrical infrastructure, rent some land in an area with existing electrical infrastructure and cheap electricity and fill them with ASIC miners. This will likely be overseas from my current country, and preliminary research leads me towards countries with lower political risk like Canada. I am in the early stages of information gathering and planning, and would like to open my Mining farm some time between 2020 and 2023, with the long term objective of raising money and eventually building these Mining farms in multiple countries, diversifying our risk while generating bitcoins for myself and shareholders. I am a big bitcoin bull and believe in the project long term. I have owned and managed small businesses before, but have no experience in the world of building data-centres. I like the economics of running a Mining Farm, and want to get my hands dirty, learn how they work, how to build them, and get “in the game”. Does anyone have experience or has been in my place before that can help me navigate from where I am to where I want to go? Questions: • If you were in my position, would you jump right in and start up a mine ASAP - once cheap power and stable geopolitical area is located? or would you try and wait to sell the bitcoins for fiat at the next bubble peak? Or possibly after the capitulation after the next peak - I read that after some time in 2018 lots of new/inefficient miners capitulated and needed to sell their rigs due to the drop in price during which ‘strong’ miners scooped up lots of cheap discounted mining rigs • What’s the difference between a 15 BTC Mining Farm, and a 35 BTC Mining Farm (Assuming that’s the total budget - including travel, legal, mistakes, capex, opex, everything) • How would you do something like this. What type of people are essential to get as part of my “team”? I would be prepared to ‘learn on the job, and spend 1-2 years out at the site learning how to set up and maintain the Mining Farm, but I would need to learn from someone. Should I go to existing miners and ask them for help/guidance, or hire an electrical engineer, or someone with experience and get him on the payroll/some equity in the business (also contribution of capital would be ideal). Or should I find people/companies that build data centres as their usual business and try to get them to help? • Am I a fool to think that it’s possible to mine profitably at this scale, and should I just hodl these coins and get a by the hour job? /s Thanks for reading, and let me know if you have any questions or can help. TLDR: I'm a noob who wants to start mining with 35 BTC as starting capital, despite having never mined before and being non technical. I want to learn the 'trade' and business of building bitcoin data centers without getting rekt.
19 GPU Build with ASUS B250 Mining Expert - 470MH/s
Its my dream to achieve and build a mining rig of this extent. Allow me to describe this journey of mine to the GPU mining community. Kudos to all! Feel free to ask me questions and I would love to help you out.
2017 - Bull Market - Dipped my toes into the GPU mining market. Spent nearly 3k USD, 6x GTX 1060 3GB & 2x GTX 1070ti.
I exited this market back at the very end of the bull run and never touched Bitcoin until 2019. I began to plan my future, created an investment portfolio where I finally included Bitcoin back into my high risk asset class. The resurgence of Bitcoin mining begans :)
2019 - Sold my Ryzen 7 1700 & MB for ASUS B250 Mining Expert with 19 GPU build in mind
Building my first rig with 6 GPUs using an Asus B250 MB, looking for advice
New member so please be gentle. I have been micro mining for a few months now (with my GTX 1060 and my new RTX 2080 ti) and want to step up my game a notch. I have my sites set on building the following system with the specs listed below so far. Any input on why I should not use a specific item or why I should use a certain item would be greatly appreciated! 1. Kingwin Bitcoin Miner Rig Case W/ 6, or 8 GPU Mining Stackable Frame x 1: I have expansion in mind with this frame. It's stackable and ounces I ROI my first rig I plan on tossing a second level on to it. This frame is currently selling for around $50. Kingwin Bitcoin Miner Rig Case W/ 6, or 8 GPU Mining Stackable Frame 2. ROSEWILL Gaming 80 Plus Gold 1600W Power Supply (HERCULES-1600S) x 1: The heart of any rig, the power! I like this one for it's 1600W and it's price. Currently running around $200. ROSEWILL Gaming 80 Plus Gold 1600W Power Supply (HERCULES-1600S) 3. ASUS B250 MINING EXPERT Motherboard x 1: This motherboard is being used with expansion in mind. I want to start with 6 GPUs then build on that. Currently running around $140. ASUS MINING EXPERT Motherboard (B250) 4. VOLADOR PCI-E Riser 1x to 16x Powered Riser Adapter Card (USB3) x 6: Standard USB 3.0 risers. They come in a six-pack for about $20. VOLADOR PCI-E Riser 1x to 16x Powered Riser Adapter Card (USB3) 5. XFX Radeon RX 580 GTS XXX Edition (RX-580P8DFD6) x 6: Currently cheaper than the Sapphire below. These are currently running around $170. XFX Radeon RX 580 GTS XXX Edition (RX-580P8DFD6) 5-ALT. Sapphire Radeon Pulse RX 580 8GB (11265-05-20G) - BACKUP CHOICE GPU: This is what I was looking at first then I found the cheaper XFX Radeon's above. These are currently running around $180. Sapphire Radeon Pulse RX 580 8GB (11265-05-20G) 6. CPU: Currently I do not have any CPUs in mind to use for this rig. I know I don't need a beefy CPU for running Windows. I plan on ONLY mining with GPUs in this rig. Suggestions are welcome! 7. Memory: Currently I do not have any memory in my sites. Suggestions are welcome! 8. Harddrive: I plan on using a simple 128GB USB thumb drive for the hard drive right now. Possibly something like an SSD if needed, but plan on using USB flash drive to start. Pros/Cons suggestions welcome! I think I my video my endeavor and show everyone how fun/frustrating it all was. Catching all the pitfalls in hopes of helping others out etc. But first I need to have a plan and that's what this is. I need to do some lite research, get a good shopping list, make a payment plan, and an ROI schedule. Any feedback that the community could give me would be very helpful because I only know about 80% of what I need to know to build this rig. The 20% is the overclocking, bios issues (MB and gpu), and general knowledge of building a mining rig. I expect there to be pitfalls and parts I didn't think of until I start the build.
Ive been researching bitcoin mining etc all night now, I semi got into it in 2016 but only made 3 cents a day, so I quit, but I just found NiceHash and wanted to see if this idea I had was realistic or not or I should just give up. I had an idea to build a 5 gpu rig of 580 8gb and run them 24/7. The profitability counter says I would make something around like 65$ a month. I already factored in my power too, it seems like I could make a lot then just keep upgrading. Say I have no power bill? How much do you think 5 580 8gbs would make in a month on nicehash? I was thinking of just getting the profit and upgrade and build more and more. Is this a realistic goal, or is 5 580s just worthless and I should give up on it now.
THE END OF ALL ASIC MINERS? - Monero's New Superweapon: "Time Locked Proof of Non-ASIC work challenge reward" algorithms.
I propose the following algorithm to end this War of attrition with ASIC / FPGA manufacturers , hopefully once and for all and save us Precious PoW Tweaks during the upcoming forks.
"A time-locked, Proof of 'Non-ASIC work' Challenge reward algorithm"
Here's an image to help you visualise how the algorithm works (details below): https://imgur.com/a/9S8dA Here's why we need it: ASIC manufacturers mine in Secret to attack our decentralized network. They'll win the war since they'll 'get their investment back' before we brick their ASICs, allowing them to launch never-ending attacks against our decentralization, for eternity. Quick Overview This algorithm uses the concept of "time-locked reward challenges". The algorithm ‘time-locks’ the reward, then issues a ‘non-ASIC’ work challenge during each regular PoW Fork, which distributes mined rewards only to CPU and GPU miners who can pass the challenge and prove they are not ASICS, by maintaining their hashrate during the ASIC downtime. These Hash-rate challenges after PoW Forks successfully ‘detect’, and ‘Severely Penalize’ anyone Mining with an ASIC/FPGA, even those in Secret. Proof of Concept: An Actual Demonstration I'll demonstrate this algorithm in action: Please see this image to help you Visualise how the algorithm works: https://imgur.com/a/9S8dA There is a critical flaw and uniquely identifying feature that exists in absolutely 'ALL ASIC and FPGA miners', even those mining in Secret. As most of you may know, with the upcoming V7 PoW hardfork,
An ASIC miner’s hash rate component drops to Absolute zero for a set period of time afterwards, because their ASIC function can no longer be used with a PoW tweak.
Normal GPU and CPU miners are also very easy to identify; as they have no problem maintaining a relatively similar maximum hash rate after the fork.
Instead of just destroying an ASIC with a fork, we can further exploit this to attack the ASIC Manufacturer or Miner by taking back all their mined rewards and giving them to the community The Special timeframe is PoW Fork + 'N' Days. ('N' being however many days remaining where it would be "impossible" to build and startup a new ASIC/FPGA after the fork.) To exploit this, the algorithm introduces a period of time called the "Mining Rewards Collection Timeframe" (MRCT), the time period in between regular PoW Hardforks. the grey shaded area in this image This "Mining Rewards Collection Timeframe" is a time whereby all mining profit rewards are 'time-locked' or held hostage in escrow, on either the mining pool, or on the Actual Blockchain code itself, or Both, depending on where this algorithm is eventually deployed. The algorithm stores the wallet address a mining reward belongs to, and the maximum hash rate (or maximum value adjusted share rate per day) observed during the "Mining rewards collection timeframe" for that particular wallet address. This "Mining Rewards Collection Timeframe" can be of any duration as required by the developers; 1,2,3,4,5,6 Months or longer . The longer This Timeframe, the more dangerous it is to ASIC miners. Meaning we don't have to rush with forks. Since it's time-locked, mined coins/rewards cannot be cashed out until the coming challenge; However, mining pools can still choose to payout smaller miners before that time if they have a 'good stable Non-Asic Hash challenge passing history', or a deposit on file, or at their own risk, so most good miners don't have to wait to cashout rewards!. Big miners on the other hand, won't care! Why? Because the delay doesn't cost them anything. (it's a TINY TINY inconvenience compared to the damage ASICs would do to GPU mining profits. I hope this makes sense) Now for the Critical ANTI-ASIC Work Challenge. Time passes and the mining rewards collection timeframe ends with a Hardfork that changes the PoW algorithm slightly, All ASICS and FPGAs are INSTANTLY destroyed. At the same time, the mining rewards from that collection timeframe are now ready to be paid out. Since only the CPU / GPU miners are able to hash normally, The Algorithm now issues a Hash Rate challenge to determine how much of the coins mined were actually mined by ASIC or FPGA miners. The challenge is nothing special. Miners just have to leave their miners running normally at maximum speed for the period of the challenge, same as they do everyday! During this challenge, their "Average Maximum Hash rate during the challenge" is compared to the "Maximum Hash Rate speed" recorded on the blockchain during the Mining Rewards Collection Timeframe. See the green dotted line in the image Thus at this point, since ASICs are DEAD, they cannot Hash at the same rate during this challenge period, so any significant difference in hashrate would thus clearly indicate the use of an ASIC or FPGA miner. Now, we have all the information we need to STRIP ASIC Miners of ALL their gains, and Reward GPU miners instead. As shown in the earlier image
Example 1: A miner using PURELY 100% CPU and GPUs to mine, will easily pass the challenge as though it never happened. They can easily maintain 90% or more of their maximum hash rate recorded, well within the agreed margin of error. So they get the Full 100% Mining Reward, Plus a fair share of any of the coins forefitted by the ASIC Miners as a Bonus., (ie, 101% , or more.. possibly)
Example 2: A miner hashing with 100% ASICs or FPGAs, will be dead during this challenge and can match “0.00%” (ie, Nothing) of their maximum hash rate observed. As such, they proportionally also get “0.00%” of the rewards they mined and forefit all their rewards to other miners.
Example 3: A miner hashing with 60% ASICs and 40% CPU/GPUs will only be able to maintain 40% of their Maximum hash rate during the challenge period. As such, they proportionally only get 40% of all the Mining rewards they earned and forefit and Lose the 60% of all coins mined by the ASIC miners.
What if a 1 GPU breaks in a 12 GPU mining farm during the challenge? (Very rare) or for some reason, you can't mine during that period? then the miner can simply rent the GPUs from nicehash for the Challenge. An ASIC miner however, cannot use this strategy (because ASICS are not GPUs, explained further below). Also we can implement a 2nd chance option; the confiscated reward may be frozen for the next Cycle; and the miner may get a 2nd chance to prove the hashrate again, with a % reward penalty. The Beautiful thing is that If ASIC miners fail the challenge, Everyone gets a Bonus share of the Reward Forefitted by the ASIC miners, So Everyone wants the ASIC miners to fail so they get Free extra money. and thus have a financial reason to support this algorithm. *There is no escaping it... or is there? Is it ASIC PROOF? Can you Cheat this algorithm? I've also tried to see if you can work around this algorithm:
Example 1: What if they switched in GPUS to mine for an ASIC during the challenge? Well, that wouldn't work. When the challenge comes, they can either save the rewards mined by the GPUs, or save the rewards mined by the ASICs, One will always be lost and result is the same anyway because you'd only get paid for the Hash rate of the GPU. The ASIC portion of the hash rate will ALWAYS be lost.
Example 2: What if they use the GPUs to mine a different coin and have them only hash for the ASIC during the challenge period?
Consider the Antminer X3. at 200KH/s, to support just "ONE ASIC", they would need over 200 RX 580 Cards or 100 VEGA cards to pass the challenge... costing well over $60,000 (SIXTY THOUSAND DOLLARS) and if they depreciate at ~ 10~15% a year, they'd lose $6000~$9000 a year. it's not enough to cover your losses,
Also, What other coin could you mine? If ASICS are so powerful, there won't be another coin except those running this algorithm. Then, the dev can choose to issue the challenge at the same point as the other coin using the same algorithm, so they lose all rewards from one coin as 1 rig cannot sustain two challenge algorithms at the same time.
Example 3: What if they just leave some GPUS on standby to avoid the power costs? Then ASIC's would still be unable to be mass produced anyway. Because for every ASIC Mass produced, you'd need to Mass Produce 200 times the GPUS to support them in their place, and own of all them. practically impossible.
Example 4: What if they rented hashing power from Nicehash to fill in during the Challenge period?
Yes, but so can we! The beautiful thing about this algorithm, is if we rent the limited hashing power on Nicehash first before them at break even or loss, it doesn't matter, Because, the ASIC miner cannot rent and hash rate and will fail the challenge, and Forefit the ENORMOUS amount of Rewards to the community. Imagine, Mining at such a high rate for months on end , the rewards confiscated and paid to GPU miners will easily offset any of the tiny losses renting hashrate from Nicehash, so ultimately, The ASIC miners lose Everything, and the community (you and me) gets all their money.
Also if ASICs Dominate the crypto market, there won't be any GPU to rent, all remaining coins would be mining this algorithm, meaning they would have to save their own hashrate for themselves, not rent it to ASIC miners. otherwise they lose their reward. Brand new users may rent their GPU's but its no where near enough to cover the ASIC hash shortfall in the challenge.
Example 5: What if they waited till we exhausted our supply of PoW fork tweaks? That's the beauty of this algorithm!. We don't actually have to tweak the PoW algorithm on a constant basis! We can intentionally leave it the same. So Everyone passes the Challenge, Then when we do detect an asic "trying to Mine their Money Back in secret (as they do now)", We tweak the PoW at the Next Hardfork. Destroying and bankrupting their very first attempt, and we get all their money and rewards, So there's no need to waste a PoW tweak in a pre-emptive strike, because the rewards are Time-Locked to the future. We can lie in wait with a single PoW like a Trap, and eat them alive (literally we get all their rewards after the challenge!). We can maintain this lethal threat to ASIC manufacturers without having to change the PoW at all!
And remember, all this effort is just for ONLY, ONE ASIC. meaning you Can't mass produce it. So ultimately it wouldn't even make sense to even develop an ASIC, as you'd be far more profitable just mining only with the 200+ GPU's required to cheat the algorithm. *So in summary, *
No ASIC/FPGA miner can escape the challenge. Not even those running in secret.
All ASIC miners are guaranteed to suffer a huge (possibly fatal) financial loss, with no prospect of any return on investment. Time locked rewards ensure No secret pre-mining with ASICs is possible. ASICs are destroyed with each challenge, all R&D and manufacturing costs and the electricity bill used to power them is wasted for basically "ZERO returns",
…..and lets not forget that all their rewards gets given away to other honest miners like you and Me!. ( LOL!) or potentially the developers of the fork :)
As long as the algorithm is active and used by multiple coins, no ASICs will ever exist to mine in secret,
We save precious PoW tweak changes, since there's no need for a pre-emptive PoW strike to prevent 'ASIC hit and run' pre-mine scenarios.
ASIC manufacturers see that the war is un-winnable and go invest in other things,
So, in theory, The War Ends. (at least for a very good part of the future) As they say: " Don't build a wall and hide in fear.... Build a wall and launch missiles from behind it against the enemy so they will never dare attack us again." I would like to point out that time locked reward challenges are already in use by the Olympic games to Strip drug cheats in the past by storing samples and testing them in the future, and it's also in the PPLNS minig pool algorithms to deter pool hopping cheats, and also in the Bitcoin's Lightning network in the form of decrementing time-locks" that 'enforce the transfer of funds' under certain conditions. Is it beautiful? Will it work? Can it be done? Let's discuss this
Ammo is the most important thing for combat in this game. I don't think I put enough emphasis on this in the previous guide. How do you kill high tier geared players? Good ammo. Low gear? Good ammo. Spend your money here, not on gear or weapon mods. Best example I have is literally my last raid. I got one tapped by a mosin in a full tier 5 setup at full health. Vader helm, Killa armor, silenced M4 build totaling around a mil with ammo and mods. Missed his first shot, I located him, dead to one shot in the thorax. Good ammo trumps all. Here is the best ammo of each type for commonly used guns: 556: M855A1 < M856A1 << M995 545: BT << BS < 7N39 762: BP 12x70: Flechette < AP-20 762x51: M80 << M62 < M61 762x54: 7N1 < SNB < 7N37 9x39: SP6 < SPP < BP 9x19: AP 6.3
On that same note, take grenades into raids. Grenades are very powerful in tarkov. If someone is in range (which is significantly bigger than other games) they will die. A hatchling with a nade and some luck can take down the most geared players in the game. I would highly recommend at least putting one in your pouch for over geared/room clearing purposes.
Quick Hideout Note (thinking about doing a passive income and usual profitable crafting guide): rush for the intel center, the discounts of trades and scav run reduction are huge. Then crafting table, library, and air filtration are all useful. I get about 500k-700k in passive income per day from the hideout by just logging in a couple times. The scav box is absolutely worth it, the 6k rouble option consistently nets me 15-20k (up to 100k+). Bitcoin farm is maybe worth it? Its a big profit per day, mines already paid off, but takes 1-2 months to return its value at current prices. Best crafts are Ifaks at the med, m995 and other ammo at the bench, sugacondensed milk at the fridge, pure water at the filtration all depending on price of ingredients which fluctuate a lot.
Check out the youtube community for loot runs, quest guides, and everything else. Tarkov is a very hard to game explain in a written or word of mouth guide. For specifics, see videos.
Finally, have a plan before you raid. At least know the extracts and your objective (money run, quest, killin dudes) and exactly where those are for the map you're running.
TLDR: Shoreline for money, Interchange for consistency, Customs for quests, Factory/Labs for fights.I did a brief overview on money runs on various maps in my previous guide, but wanted to update those maps in light of recent changes to spawns and my experiences over the past month or so testing all the maps out. In profitability order: Shoreline - With the new addition of 6-8 LedX spawns, shoreline has become king for money. It takes the high reward possibility of Labs and mixes it with the consistent loot value of Interchange with the only draw back being the need for keys, which I purchased for around 3-4 mil for all good loot rooms ( 15 keys in total). This is a steep investment, but it is a one time cost, and completely worth it. You can expect an LedX about 1/7 raids clearing most LedX rooms. I got 5/36 shoreline runs, clearing most rooms about 2/3rds of the time, dying or being beaten to the rooms in the other 1/3. Unlike labs, however, these are just the cherry on top of consistently amazing loot in the rooms with easy extracts to boot. The big draw back is popularity, I run into at least 2-3 PMCs at the resort, usually 4-5 with a duo or squad tossed in the mix. They're usually tier 3-4 geared (I go tier 5 but don't recommend that unless you're good with losing a mil to a lucky mosin shot) and have a bad habit of hiding in rooms and ambushing. Interchange - For consistent mid value barter items, Interchange is your map. Nothing has changed from my original assessment, tldr version being run Oli shelves and the 3 tech stores next to it for about 500k-1 mil per extract, assuming you bring a decent bag and rig. This map has dropped in popularity with the Shoreline buff, but be on the look out for tier 5 geared PMCs doing their 100 Killa kills grind and the ever present extract campers. Reserve - This map still has great high value drops, less frequent than Interchange but with higher average value and requiring less keys than Shoreline. The massive drawback here is extract difficulty. If you can afford it, para-cord with the ice-pick for the repel extract is recommended as you just have to ditch/bag chest armor and you're out. Losing a bag for the manhole has required many a painful pick and chose for me recently and the door just isn't consistent, sometimes the button will be pressed but its still locked, other times its just open. Its a fun PvP map, but for money its just not beating the two above. Customs - This map just really isn't for money, its for quests. But with the addition of the new stashes spread throughout the map you can make decent money whilst running the quests. See my past guide/the link below for stash runs. Factory - Wait, Factory over Labs? Customs over Labs? Yes, I'm getting to that. So why Factory? Because quick, hit and run style or longer scav pileup at a choke-point style runs can net you tons of experience along with a big stack of weapons and decent loot from scav pockets. Solos try the upper hallway office/breakable door, the bottom pipeline hallway curve, or extract choke-point. Duos and squads can hold down the shower doors with ease. Labs - People who have read my previous guide might be surprise this is last. The issue with labs is its completely dependent on high level item spawn rates. Labs is my favorite map, I could write a lengthy separate post about everything labs. At the beginning of the wipe, labs was ludicrously OP. You could spawn in and expect a 1/3 chance of an LedX (2.5 mil at the time) along with 2-3 other 400k+ items spawning in each raid. This resulted in 10's of millions in profit. Then they released Shoreline LedX spawns and turned off labs LedX. The barrel spawn was completely dead (50+ runs and nothing) and the two other (at the time) known locations had maybe a 1/25 rate. You could expect maybe 1-2 other drops per raid and it was now crowded with PMCs. It was difficult to turn a profit doing geared runs, and I lost millions. Today its slightly better, there are 3 new LedX spawns and the barrel spawn has a 1/7-10 (still testing) rate but everything has plummeted in price (VPX is less than 200k now) and you can expect 3-6 tier 5 geared PMCs plus raiders to be skulking around. Great for fights, terrible for money. Though extracting will often bring huge rewards in gear alone in current state. ... - Feel like I'm forgetting one... Hmm... Nah they wouldn't put a thermal ridden snipe happy map in the game with no loot spawns and lots of annoying quests. (Don't @ me Woods fans)
TLDR: Highest level armor not worth, high level ammo makes everything vulnerable. Not doing the same tiers (see previous guide) but the actual armor level itself. For actual setups with armoweapons see my previous guide.
Level 1: Examples:3M body armor, tank helmetIs it worth: No. Its not worth it. Ever. The speed/sound debuffs alone make it not worth it because it doesn't stop anything besides terrible pistol ammo. This should be obvious but I see new players wearing it. Don't bother guys. Sell this on the flea.
Level 2:Examples:PACA/6b2 armor, Kolpac/SHPM/Djeta helmsIs it worth: No for all the helmets due to sound debuff, but kinda if you're really broke for the armor. Level 2 armor is effective against scavs and pistolings. It'll stop you from getting one shot from distance by a crappy shotgun or pistol and is extremely cheap. I'd mark this as the minimum armor on a budget.
Level 3:Recommendations:UNTAPRESS/6B23-1/Kirasa armor,SSH68/LZsh with face/Kiver with face helmsIs it worth: Yes. The chest armor should be the standard for every raid. Its still really cheap but will actually stop most low/mid tier rounds. This makes you much more effective against scavs and low-mid gear PMCs. The SSH68 helm is dirt cheap and should be worn for every raid as a minimum. The other two helmets for tier 3+ load outs. Kiver for no headset, LZsh for use with headset, both with the faceshield.
Level 4:Recommendations:6B13/6B23-2/6B3/6B5 armovests,Zsh-1-2 with face shield/BNTI LSHZ with neck cover and face shieldIs it worth: Armor: Kinda, if you have the money to get it fresh or are questing/fighting focused in raids. The main problem with level 4 armor is its lack of health overall and repair ability (essentially can only be used for 1-2 raids before replacing). It also is mostly to increase coverage on mid tier (5.45 BP/BT for example) ammo but does nothing against high tier ammo, so it doesn't offer much more for the price than level 3. If you have the money, however, it will increase survival rates. Helmets: Yes, once you have the black skier variant unlocked for the Zsh-1, and only with tier 5+ gear for the BNTI. The Zsh-1 helmet will become you're go to for tier 3+ armor the instant you unlock it. Its only 5k roubles more expensive with faceshield than the Kiver but provides level 4 protection on head and ears with level 3 for the face. The BNTI or Vader helmet provides a level 4 faceshield and nape cover, giving you full coverage of level 4 armor over all vital areas. This is better than the Fast-MT (most of who's parts only give level 2-3 protection) and the best helm in the game imo due to it not limiting your vision.
Level 5:Recommendations:Killa 6B13 Assault/Gen4/Redut-M armor, Alytn with face shieldIs it worth: Sometimes, but mostly no. I say this as someone who runs level 5 armor 50+% of my raids. But this is only because after awhile the cost stops mattering to you and it makes raids more interesting to be risking more and getting to challenge anything you come across. The main issue is its extreme expense and the ability to be easily killed by inexpensive weapons with high tier ammo. Killa armor + the Vader helm is, in my opinion, the best armor setup in the game due to having full visibility and high movement speed with coverage on all vital parts. But the amount of times that I've dropped the 400-500k on this armor only to die in one shot to a mosling or hunterling with high level ammo is ridiculous. Yes, this armor makes you immune to anyone with low/mid tier ammo, but high tier ammo, available to everyone through the flea market, cuts right through.
Level 6:Examples:Zhuk-6a, 6B34 "Fort" armor, Vulkan with faceshield helmIs it worth: No. This armor is the only in the game that will reliably take a few shots from the best ammo in the game, listed above. So why is it bad? First off, it has huge penalties. You are slow and bulky and loud. Second, unless you open up a hole in the armor with no face plate/level 3/4 face plates (making you not tanky), you have restricted vision. Its like being a world war era tank. Hard to kill, sure. But if they brought the right ammo for the job they can run circles around you and blast your blind/slow butt until you drop. Third, its very expensive. Zhuk-6a is the only possible option here really for price and penalties, but its also ceramic. If you're going to go tier 5, I recommend Killa armor.
Does this mean you should never run good armor? No. What it means is you should be aware you are likely losing value/money by doing so at higher tiers. Better armor will help you survive more raids, help with quests, and is a sign of being a more established player. But you are trading a LOT more money for smaller advantages in return, making it hard to recommend the more expensive armors in the game to anyone who can't handle multiple instant deaths in a row losing 500k-1mil.
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Mining Rig Build (Easy) Start to Finish with Tips - YouTube
Learn how to mine your very own Cryptocurrency! In the video, we go over the tech you will need and how to put all the pieces together. There's many ways to ... This video will show you how to build a mining rig with a strict budget. I have tried to do a build where I keep the costs down to help people who might not ... This video is a step by step guide on how to build your first Mining Rig. This video also gives you an understanding of the best GPUs for mining in 2020 and ... I set up a Bitcoin cryptocurrency mining farm in my garage with GPU mining rigs and ASIC miners as well as FPGA miners in my house. I explain how to setup yo... Here's the first part in the series on how to build the best RGB-laden (or not, it's a free country) mining rig possible. We got part selection up first toda...