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I Was Wrong About Ethereum Because Its Such A Good Store Of Value No Wait, Let Me Tryagain.

I Was Wrong About Ethereum Because Its Such A Good Store Of Value No Wait, Let Me Tryagain.

Crypto OG. Talks about Bitcoin and sometimes other cryptocurrencies. I was wrong about Ethereum because its such a good store of value no wait, let me tryagain. I was wrong about Ethereum because its such a decentra nope. I was wrong about Ethereum because everyone is using it as a supercomputer No. I do admit I didnt see this Ethereum bubblecoming But, then again I wrongly assumed that no startup would need or even dare to ask $50 million in funding. I also wrongly assumed that people would use common sense and that leading developers would speak out against this sort of practice. Quite the opposite it seems. Ethereums sole use case at the moment is ICOs and token creation. Greed from speculators, investors and developers. So lets think for a minute and think what determines the price? Supply + demand. Pretty straightforward. The tokens that are available on the market, right? But with every ICO there are more tokens that are being locked up. Obviously the projects will liquidate some, to get fiat to pay for development of their project, but they also see the rising price of Ethereum. So at that point greed takes over and they think, totally understandable, We should probably just cash out what we really need and keep the rest in ETH, thats only going up anyway it seems. And obviously there are new coins being mined, but if you look at the amount of ETH these ICOs raise, at this point, its just a drop in a bucket. You have the normal investors (who are already very late to the game at this point as usual), but the buy pressure that these ICOs are creating is crazy and scary. Take TenX for example, its an upcoming ICO at the end of the month. The cap is 200,000 ETH (at current ETH price of $370) thats $74,000,000 for a startup. Heres the best part: its only 51% of the Continue reading >>

V. 6.0 Ethereum Mining

V. 6.0 Ethereum Mining

Today we are announcing the release of version 6.0 of our desktop application.As you can see, the initial digit has changed, which indicates a major update.We are excited to present you Ethereum mining! If you ever wondered what MinerGates biggest priorities are just take a lookat the history of our updates. We are the first pool to offer the featureof merged mining, we have the most convenient GUI miner in the crypto community and recently released the first mobile miner for CryptoNote currencies. The list can go on, the main idea is that innovations and evolution are our core values. They guide us and make ussearch for better decisions and cutting-edgeupgrades for our clients. Ethereum, or Ether is the currency of the blockchain platform with the same name. It was developed in 2014 by Vitalik Buterin, a 19-year-old developer from Canada. The crowdfunding project for Ethereum became the third most successful in history. Ethereumhas a platform for creating so-called smart contracts . Smart contracts are a basisfordecentralized applications,often calleddapps.They runwithout any possibility of censorship, downtime, fraud or third parties interference. The applications can move value through Blockchain and represent the ownership of property. Ethereum is one of the most bold and ingenious projects ofthe last years. It may contribute to many areasof our everyday lives. MinerGate is happy to welcome the currency with the same forward-looking goals and ideas as we have. MinerGates update makes it easier for anybody to start mining Ethereum without being a tech-savvy miner. Just download our GUI application , press the button and start getting your Ethers in mere minutes.One click and you are all set! When you first click Start mining next to Ethereum, you will see that the a Continue reading >>

Eth Mining - Crypto Mining Blog

Eth Mining - Crypto Mining Blog

All About BTC, LTC, ETH mining as well as other alternative crypto currencies Shortage of AMD Radeon RX 500 Series of GPUs on the Market With the switch from the RX 400 to the new RX 500 series (even if there is not much difference in hardware), AMD started having issues with availability. Older GPUs have been pretty much sold out where there were some left and the newer 570/580 models are pretty much out of stock everywhere. If there are some units left they are with an inflated price tag, because the people selling them want to make some extra bucks from the lack of availability and high demand. It is not known how long this lack of video cards will continue, but things were slowly progressing towards this negative outcome the whole month. We are pretty sure that one of the reasons is mining and the recent peak of the price and profitability of Ethereum that inevitably leads to more and more new miners and mining rigs getting built. It seems however that AMD was really not ready for an increased demand after the release of the RX 500 series, even though RX 400 GPUs were already selling a lot. It may take a couple of weeks for things to get back to normal, unless the craze continues and unless AMD is actually having trouble making enough GPUs at the moment to cover the demand. Maybe the fact that the company is preparing for the release of their newer higher-end Vega solutions has something to do with the problem as well. Miners are already looking at the alternatives of using Nvidia GPUs that are available plenty on the market, because they are not as good deal for Ethereum mining like the AMD cards in terms of price/performance. If you however take out the Ethash algorithm (Dagger-Hashimoto) out of the equation Nvidias Pascal GPUs are actually pretty good in terms o Continue reading >>

The Question Of Mining

The Question Of Mining

There are a lot of interesting changes to the Ethereum protocol that are in the works, which will hopefully improve the power of the system, add further features such as light-client friendliness and a higher degree of extensibility, and make Ethereum contracts easier to code. Theoretically, none of these changes are necessary; the Ethereum protocol is fine as it stands today, and can theoretically be released as is once the clients are further built up somewhat; rather, the changes are there to make Ethereum better. However, there is one design objective of Ethereum where the light at the end of the tunnel is a bit further: mining decentralization. Although we always have the backup option of simply sticking with Dagger, Slasher or SHA3, it is entirely unclear that any of those algorithms can truly remain decentralized and mining pool and ASIC-resistant in the long term (Slasher is guaranteed to be decentralized because its proof of stake, but has its own moderately problematic flaws). The basic idea behind the mining algorithm that we want to use is essentially in place; however, as in many cases, the devil is in the details. This version of the Ethereum mining algorithm is a Hashcash-based implementation, similar to Bitcoins SHA256 and Litecoins scrypt; the idea is for the miner to repeatedly compute a pseudorandom function on a block and a nonce, trying a different nonce each time, until eventually some nonce produces a result which starts with a large number of zeroes. The only room to innovate in this kind of implementation is changing the function; in Ethereums case, the rough outline of the function, taking the blockchain state (defined as the header, the current state tree, and all the data of the last 16 blocks), is as follows: Let h[i] = sha3(sha3(block_head Continue reading >>

Guidelines To Build A Rig For Ethereum Mining

Guidelines To Build A Rig For Ethereum Mining

Guidelines to Build a Rig for Ethereum Mining Those keen to mine Ethereum should understand that both Bitcoin and Ethereum mining are founded upon the blockchain technology. The blockchain basically acts like a public ledger online. When you perform cryptocurrency mining, you are essentially making use of computing power to verify transactions which are then added to this public ledger. Digital coins like Bitcoins and Ether are thereafter distributed as rewards for solving a cryptographic puzzle or a block successfully. Blockchain technology is integral to decentralization and it helps to prevent hacking. Since it is decentralized the transactions take place in the absence of any third parties; there is no single point of failure because it involves distributed cloud storage. It eliminates the chance of identity thefts because there is no one source which can be hacked for stealing private credentials. The transactions are time-stamped so that there is proof that they have occurred and the block records cannot be falsified. Things to remember when mining cryptocurrencies: When you have access to the right kind of mining hardware, it is indeed possible to earn profits by mining Ethereum or Bitcoin . When you earn a reward the coins get deposited into your wallet. You could either keep it or use it up in trading for other cryptocurrencies. When you do not own a sophisticated and top of the line computer, you will need a dedicated rig for mining cryptocurrencies. This is because the standard PCs are not powerful enough. You will end up spending a fortune of electricity in the process. What you earn in a month will depend primarily on what your electricity costs are and your hashing rates. Moreover, it is important to remember that mining difficulties will keep increasing Continue reading >>

The Case For Ethereum Maximalism

The Case For Ethereum Maximalism

Ethereum is going to win it all, the markets just havent realized ityet I have opinions. You have opinions. Our opinions might not be the same. Thats ok. There is no need to tell me how stupid or evil I am. If you feel a visceral reaction to this blog post, you might explore the possibility that you hold a tribalist attachment to your cryptocurrency views and wonder whether this is really healthy or truth-tracking. So far, three cryptocurrenciesBitcoin, Ripple, and Ethereumhave hit a market cap of $100B. Notably, they all did so within three months of each other. These cryptocurrencies first hit market caps of $10B in 2013, 2017, and 2017, respectively. Bitcoin reached the $10B milestone almost four years before any other cryptocurrency, but the $100B milestone only three months before its competitors. At least by this one admittedly imperfect metric, Bitcoin is losing its lead. Bitcoin losing its lead makes sense to me. What doesnt make sense is that Bitcoin still has a lead at all and that it still has so many proponents. In terms of actual utility, Bitcoin is inferior in almost every way to several other cryptocurrencies, most dramatically Ethereum. I find myself inexorably drawn to a position not publicly articulated or even necessarily held by Ethereums founders and most active developersEthereum maximalism. My cryptocurrency portfolio is invested accordingly, and I dont need to justify my beliefs, but I am writing out my rationale for the benefit of friends and followers who are interested. Take it for what its worth. The economics of cryptocurrency competition My mental model of cryptocurrency competition is still the one Jerry Brito and I developed for our 2014 article on cryptocurrency in the New Palgrave Dictionary of Economics (heres an ungated version , rel Continue reading >>

Ethereum Mining Profitability In 2018

Ethereum Mining Profitability In 2018

After Bitcoin, Ethereum is the second most popular digital currency in terms of value. With the popularity and increasing value of Ethereum, it is quite clear that Ethereum mining is a trending topic. Before investing in Ethereum mining GPU or mining rig, it is advisable to know how profitable is to mine Ethereum in 2018. Yes, it is profitable. The cryptocurrency can be easily mined with powerful GPUs. Above all, the price of Ethereum is increasing continuously. Therefore, it is profitable to mine Ethereum in 2018. Ethereum has much similarities to Bitcoin , except the two main differences, namely its shift to Proof-of-Stake and Smart Contracts. The coding language of Ethereum helps programmers or developers to prepare smart contracts or programmable money. It is the revolutionary feature in cryptocurrencies and predicts a bright future of digital currencies. By making use of Proof-of-Stake, your wallet/computer stakes the coins possessed by you. For instance, if network has around 1,000 coins and you are staking 100 coins, then you will have 10 percent of coins that are being staked. That means, you will get 10% mining rewards from the Ethereum network. Instead of solving cryptographic problems to get coins, you stake the coins in this method. However, make sure that you verify or confirm the correct transactions. In case, you confirm the wrong one or try to forge a transaction or transactions, then you will surely lose your staked coins in the network. The best part of Proof of Stake mining is it doesnt make use of energy. In this mining method, you lock your coins that makes it secure and you also get to know who get the rewards. There is no need to spend money on electricity or hardware. In order to get mining rewards, all you need to do is own coins before. Basica Continue reading >>

Tips For Building An Ethereum Mining Rig

Tips For Building An Ethereum Mining Rig

It is possible to build an Ethereum mining rig by following two key steps, namely, choosing the right equipments and assembling these together to start mining. When you do not wish to invest in specialized mining hardware, you may resort to cloud mining. What will you need to start building an Ethereum mining rig? One of the first things that you are going to need is the motherboard. This is really the computers brain and will form the very base of the rig. You will have to look for GPU slots in this to see how many GPU cards you can fit into it. Another important piece of hardware which you need for building a mining rig is the graphics card. There are some which are very expensive but do not give much hashing power. They are others that are affordable but may use more power. Your choice of the card will be dictated by how powerful you wish the rig to be and how much money you can afford to spend. The idea is to select an efficient GPU from reputed providers. Next you will require a hard drive for storing the OS and mining software. A regular SSD will be enough and its size depends on how much you plan to mine. When you intend to download the whole blockchain which may be large, you will need a bigger drive and therefore you have to pay more. The Ram or Random Access Memory is integral to any PC and it will work as the scratch pad for making calculations and recounting information. A 4GB RAM should suffice for building an Ethereum mining rig. Power Supply Units or PSUs are available in different dimensions and you need to choose one depending on the kind of calculations you will do. It is advisable to choose PSUs which can accommodate more components if needed. When you are planning to create a mega rig it may be better to get dual power supplies instead of one. You s Continue reading >>

Miners Arent Your Friends Keep Network

Miners Arent Your Friends Keep Network

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. As developers, we like to believe in a consensus layer that takes care of all the hard distributed systems problems and lets us write applications. Miners live in the consensus layer, doing whatever it is miners do. Developers live in the application layer with the smart contracts: elegant programs that run perfectly forever on the Ethereum Virtual Machine (EVM). Our dApps interact with an eternal ethereal computer and rely on its integrity. We know the EVM is powered by consensus, but we dont need to care about that as long as it works. We dont worry about miners. After all, nobody needs to understand how semiconductors work, or the circuit design of a modern CPU. Unfortunately, this nice, smooth division between layers is an illusion. The consensus layer illusion helps us forget that miners arent our friends. In practice, however, the boundary between contracts and consensus has more bumps, folds, and blurs than the marketing indicates. Block production affects the state of the EVM, which affects calls to smart contracts. In turn this affects the dApps making those calls and the dApps users. If blocks are slow, dApps are slow. If blocks are fast, dApps are fast. If blocks are empty, dapps are frozen. The consensus layer accidentally interferes with dApps all the time. But sometimes it can reach up and interfere deliberately. The consensus layer is controlled by miners. Miners work for money. The consensus layer will only support the application layer as long as its profitable to do so. If miners can make more money by interfering with the application layer, they will eventually Continue reading >>

Ethereum Mining - Why You Should Invest | Genesis Mining

Ethereum Mining - Why You Should Invest | Genesis Mining

Enigma - The worlds largest Ethereum Mine Ethereum Mining is a computationally in-depth work that requires a lot of time and processing power. A miner gets rewarded for providing solutions to challenging math problems via blockchain technology, just like bitcoin mining . Ethereum is the first world computer. It is a decentralized network that can be used by anyone and is capable of running applications with no possibility of downtime, censorship or fraud. Like all crypto currencies, the future of Ethereum remains uncertain, but the tone of the conversation surrounding Ethereum is different than almost any other crypto currency. Discussing the excitement, Genesis Minings CEO Marco Streng stated, We believe it is headed to the moon and we are building a rocket ship to make sure our customers do not miss out. Ethereum is one of the fastest growing cryptocurrencies next to Bitcoin, the native digital currency which has been taking the world by storm. Just a year and half ago, the price of Ethereum was $1, now it is well over $300 with an all-time high of over $400. The rapid growth of Ethereum mining excited investors who were eager not to miss out on another hyper-growth investment opportunity. The price of mining ethereum is $29 per MH/s, reduced from the past rate of $44 per MH/s. Discussing this price change, Genesis Mininig co-founder and CEO Marco Streng stated, Every day, we are working to reduce operational costs to mine on behalf of our 200,000 customers and every time we have the opportunity to provide greater ROI potential and value to our customers, we are honored. Our Ethereum cloud mining farm, Enigma, is the largest Ethereum cryptocurrency mining farm in the world. We have continued to expand our Ethereum mining rigs and hardware to keep up with the growing Continue reading >>

Crypto Mining Blog - All About Btc, Ltc, Eth Mining As Well As Other Alternative Crypto Currencies

Crypto Mining Blog - All About Btc, Ltc, Eth Mining As Well As Other Alternative Crypto Currencies

All About BTC, LTC, ETH mining as well as other alternative crypto currencies We have already talked about the new Brave browser and their Basic Attention Token (BAT) as a means to offer users an alternative to browse the web faster, safer and also to be able to support their favorite websites or Youtube video with regular crypto currency donations (coins or tokens). Well, if you still have not tried the Brave browser now you have a good reason to give it a try as you can get 30 BAT tokens for free if you do (a little over $6 USD value) to use to support your favorite online publications. Do note that this is a limited promotion as Brave will grant 300,000 promotional tokens to browser users, so make sure you get yours before they run out. The promotion rules state that Brave browser users will receive promotional Basic Attention Tokens (BAT), which must be used within 90 days, via their Brave wallets after they opt into the offering or they will be lost. You need to download and use or update to use the latest desktop browser release (0.19.105) to receive the promotional BAT offer right after you activate the Brave Payments feature of the browser. The tokens will be released from the User Growth Pool (UGP), which was created during the sale of the utility tokens in May 2017. The UGP consists of 300 million tokens set aside to incentivize users to join the Brave platform. This initial promotion has a cap of 300,000 tokens and it will be distributed to current and new Brave users over the next 30 days or until the cap is reached. This promotion is a one-time grant of BAT available for: Users who have not installed Brave, but download it during the promotion; Users who browse with Brave, but have not yet enabled Brave Payments; Users who have enabled Brave Payments, but Continue reading >>

Ethermining

Ethermining

This is our official in-depth guide to mining across Windows, Linux, and ethOS. Please take a glance if you are new and have basic mining questions. Use of this site constitutes acceptance of our User Agreement and Privacy Policy . 2017 reddit inc. All rights reserved. REDDIT and the ALIEN Logo are registered trademarks of reddit inc. Rendered by PID 113022 on app-239 at 2017-12-14 09:04:44.521872+00:00 running 23f3124 country code: US. Continue reading >>

The Ethereum People, Platforms, Dapps And Miners You Need Toknow

The Ethereum People, Platforms, Dapps And Miners You Need Toknow

The advanced #Bitcoin trading platform for advanced #Bitcoin traders. Our algorithms volatility. Backed by @YCombinator. The Ethereum People, Platforms, dApps and Miners You Need toKnow In its short, three-year history, Ethereum has already spawned a vibrant ecosystem of developers, thinkers, and entrepreneurs excited by the potential of a decentralized network for computing power. In 2013, Vitalik Buterin released a whitepaper describing a blockchain platform that was Turing complete, and would thus permit the development of decentralized applications. Buterin had been involved with Bitcoin, but he argued for the need for a scripting language that would permit the creation of smart contracts on the blockchain. While the early Ethereum developers largely came from the Bitcoin community, they quickly started the formation of something completely new. Where Bitcoin is about enabling financial transactions on the blockchain, the goal of Ethereum is to become a platform for distributed computing. Weve developed this living guide to everything Ethereum so that you can keep track of the vibrant ecosystem rallying around the promise of a new kind of computing. These resources will serve as a way to start developing a deep understanding of this rich, new space in crypto. People: Follow the people who are building Ethereum, developing dApps on top of Ethereum, and advocating for Web 3.0. We've provided their Twitters so you can keep up-to-date on their latest thoughts and musings. News: We've provided a list of the best Ethereum-specific and general cryptocurrency news outlets to keep track of everything from new innovations in Ethereum to daily price trends. Miners: If you're looking to mine Ethereum at this point, you're going to want to be part of a pool. We've included info Continue reading >>

Ethereum Mining - Crypto Mining Blog

Ethereum Mining - Crypto Mining Blog

All About BTC, LTC, ETH mining as well as other alternative crypto currencies Shortage of AMD Radeon RX 500 Series of GPUs on the Market With the switch from the RX 400 to the new RX 500 series (even if there is not much difference in hardware), AMD started having issues with availability. Older GPUs have been pretty much sold out where there were some left and the newer 570/580 models are pretty much out of stock everywhere. If there are some units left they are with an inflated price tag, because the people selling them want to make some extra bucks from the lack of availability and high demand. It is not known how long this lack of video cards will continue, but things were slowly progressing towards this negative outcome the whole month. We are pretty sure that one of the reasons is mining and the recent peak of the price and profitability of Ethereum that inevitably leads to more and more new miners and mining rigs getting built. It seems however that AMD was really not ready for an increased demand after the release of the RX 500 series, even though RX 400 GPUs were already selling a lot. It may take a couple of weeks for things to get back to normal, unless the craze continues and unless AMD is actually having trouble making enough GPUs at the moment to cover the demand. Maybe the fact that the company is preparing for the release of their newer higher-end Vega solutions has something to do with the problem as well. Miners are already looking at the alternatives of using Nvidia GPUs that are available plenty on the market, because they are not as good deal for Ethereum mining like the AMD cards in terms of price/performance. If you however take out the Ethash algorithm (Dagger-Hashimoto) out of the equation Nvidias Pascal GPUs are actually pretty good in terms o Continue reading >>

How To Build An Ethereum Mining Rig 2018 | 2miners Blog

How To Build An Ethereum Mining Rig 2018 | 2miners Blog

Lets see how to choose the right hardware and build a universal mining rig for the Dagger Hashimoto (Ethash) algorithm for such coins as Ethereum , Ethereum Classic , Metaverse , Expanse , Musicoin , Pirl , Whale , and an Equihash algorithm for Zcash , ZClassic , Zencash , Bitcoin Gold . We are going to build a rig using eight graphics cards, either NVIDIA or AMD. Eight is the perfect number in this case, as Windows works well with 8 GPUs, and motherboard with slots for 8 GPUs dont cost that much. You can always buy a motherboard with slots for up to thirteen cards, but its price is higher than the eight slot version, and youd have to install Linux to use it. Thats why we recommend 8 GPUs. Have a look at the quality-price ratio when choosing your video cards. Feel free to contact 2Miners support for an advice. By default you could purchase NVIDIA GTX 1060/1070 this is a good option for beginners: there are many brands to choose from, and these cards are universal, so they work both on Ethash and Equihash algorithms. Do not combine AMD and NVIDIA GPUs on the same rig if you choose AMD, then buy 8 AMD GPUs, if you select NVIDIA, then buy 8 NVIDIA GPUs. In the following, we have advice from 2miners.com on buying hardware and building a rig. Rigs frame for 8 GPUs: $30. It would be great if you could find somebody to build it for you. Otherwise, you need to go to the nearest hardware store and do it yourself. Motherboard: ASUS PRIME Z270P starting from $130. Go to your nearest computer store or order one at Amazon/eBay. Caution, we dont recommend buying a used one. Z270P has slots for up to six GPUs and two M2 slots, which can be used to add two more GPUs through M2 to PCI-e adapter a total of 8 GPUs. CPU: $50. You could easily choose the cheapest processor with an LGA1151 Continue reading >>

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