5 Best Bitcoin Mining Hardware ASIC Machines (2020 Rigs)

Is it true that bitcoin became less and less decentralized as the required computing power for mining increased ?

I have read from one of the crypto communities in reddit about this issue and let me qoute one user's response that got me pondering:
"The Bitcoin's Proof-of-Work system is actually a zero-sum game: Only the 'Miner' who was able to solve the recent Hash is being rewarded for his effort, while all the other 'Miners' are at a loss. Since they all invested costly computing power and electricity, and in the end were given nothing in return, they are left at a loss and are more likely to quit from 'Mining' Bitcoin once the losses become unbearable. The problem with this model is that it eventually leads toward centralization. In the end, only the richest and strongest entities, such as governments or corporations, will be able to take part in the expensive task of 'Mining' Bitcoins. That means that just like with the "Survival of the Fittest", in the end, only a small and elitist group of corporations and governments will hold the control over the Bitcoin network (both in terms of reaching consensus and in terms of governing the protocol)."
submitted by Eeji_ to BitcoinBeginners [link] [comments]

Is it true that bitcoin became less and less decentralized as the required computing power for mining increased ?

submitted by elijahchriswell to BitcoinMarkets [link] [comments]

Study claims Bitcoin uses as much energy as Ireland, but experts don't agree. The rise in popularity of Bitcoin and other cryptocurrencies has been met with growing concern about the energy usage required by the thousands of computing systems that power these virtual currencies.

Study claims Bitcoin uses as much energy as Ireland, but experts don't agree. The rise in popularity of Bitcoin and other cryptocurrencies has been met with growing concern about the energy usage required by the thousands of computing systems that power these virtual currencies. submitted by Wagamaga to science [link] [comments]

Anybody in SoCal that would allow me to practice on their semi-truck (preferably equipped with a manual transmission) for 2-3 days in an empty parking lot? I'll buy you food, fix your computer, build you a computer or do something requiring a tech-savy person. I also have $100 worth of Bitcoin.

As the title suggests, I am looking for someone with a semi-truck (preferably one with a manual transmission) that's located somewhere in Southern California. Don't worry, I won't burn your clutch (I've been driving stick for about 7 years and have driven semi-trucks before). I need a truck to practice on so I can take my behind-the-wheel for the second time. I already have my CLP and all my endorsements (HazMat, Double-Triple trailers, Tankers, etc.); I also have my TWIC card.
I already tried paying a trucking school about $800 to borrow their truck and trailer and have them train me for a couple of hours. Unfortunately, I failed my behind-the-wheel because I forgot to mention the 55-75 psi parameter when demonstrating that the warning devices for the Low Air Warning part of my Air Brake test are fully functional.
I can't afford to rent another truck and trailer, so I'm hoping someone out there in the reddit community can help a fellow redditor out. I'm even willing to ride along with you to your deliveries and or pickups, if you give me the the opportunity to drive your truck and trailer on occasion on an empty parking lot (or, if you trust me enough, on the open road, haha). I mostly want to work on my backing, parallel parking, alley dock, and Pre-Inspection (ie. pointing out every small part in the engine compartment, suspension and trailer). I think 2-3 days of practice would be sufficient for me and I would be ready to retake my behind-the-wheel.
I may not have much money to offer you, but I can buy you food here and there, or help you fix your computer or some electronic. I consider myself a tech-savy person, have built computers in the past, so I have some skills to offer.
Just in case no one responds to this post, I have already applied to Prime, since they offer free and paid training. However, I would have preferred having my CDL before working for any trucking company.
Thanks for reading :)
Edit/Update 1: I am going to go to the trucking school where I originally rented the truck for my first behind-the-wheel and take a two week course with them, which includes two trips to the DMV (hopefully I'll just need one). My parents are willing to loan me the money to help me out. I will update in a couple of weeks when I get my CDL, knocks on wood
Edit/Update 2: I passed my behind the wheel at the DMV this past Thursday, 04 October 2018 :D !!!! I am now a proud holder of a CDL A with all my endorsements (HazMat, Double-Triple Trailers, Tanker, etc.). My actual physical license should come in 2-3 weeks, according to the DMV. I'm gonna start looking for my first truck driving job starting Monday. I hope I have some luck finding a decent company and get assigned a truck with a 10-speed or 18-speed manual transmission :)
submitted by PmMeYourFeels to Truckers [link] [comments]

"The overall network throughput and optimization required to handle the tx rate of 10 minute 128MB blocks on a normal computer is a work in progress that seems to be completely unnecessary at this point but I am moving it from the giga_perf branch to dev now." u/thezerg1 - Bitcoin Unlimited

Being ready for the next Fidelity would be good.
Its been done for several years now in BU but some engineering is probably required on the other clients since there are crashing/hanging issues that I had to fix.
I am saying if a 128MB block is generated the client can handle it. The overall network throughput and optimization required to handle the tx rate of 10 minute 128MB blocks on a normal computer is a work in progress that seems to be completely unnecessary at this point but I am moving it from the giga_perf branch to dev now.
https://www.reddit.com/btc/comments/9gfcvx/the_most_unnoticed_revelation_that_the_stress/e65z7c5/?context=3
submitted by Zarathustra_V to btc [link] [comments]

Instead of charging money, can a streaming company simply require that you let them use your computer to mine Bitcoin or other cryptocurrency for the duration of your stream?

The UFC apparently has already been doing this (but being a dick about it by not getting your permission first).
Still, is there a reason this would actually be a bad business model? What would the economics of this be? What would the limiting factors be? Why isn't every online streaming company - especially Netflix, YouTube or Pornhub - already in on this game?
For example, a monthly $16 Netflix subscription is pretty reasonably priced but is right now worth only 0.0016 Bitcoin. How much time would you have to spend streaming (on a Bitcoin-mining capable device) to mine
Edit: As the comments point out possible roadblocks, I'll account for them here:
submitted by StanzinTheScribe to NoStupidQuestions [link] [comments]

Considering the computing power required to create new transactions in blockchain currencies such as Bitcoin, would it be plausible to use a blockchain currency as a worldwide currency with billions of transactions?

I'm talking about computing power alone not factoring in economic factors or anything else.

(Also let me know if this a totally invalid question. I only have surface-level knowledge about blockchain.
submitted by jake8796 to AskComputerScience [link] [comments]

Is bitcoin mining even worth it with one computer? What would be the minimum requirements for a pc to be able to mine?

submitted by VI6XII12VI6 to pcmasterrace [link] [comments]

"It is 100% technically possible to have fraud-proof voting on our mobile phones today using the blockchain."

submitted by PAlove to CryptoCurrency [link] [comments]

[new estimate] Quantum computers require at most 2330 qubits and 129 billion gates to crack Bitcoin's secp256k1 elliptic curve (we are at 17 qubits today).

submitted by blk0 to Bitcoin [link] [comments]

Fred Wilson: One of the two biggest obstacles for mainstream Bitcoin acceptance is that Bitcoin requires secure computers

Fred Wilson: One of the two biggest obstacles for mainstream Bitcoin acceptance is that Bitcoin requires secure computers submitted by DrunkRaven to Bitcoin [link] [comments]

As more Bitcoin goes into circulation from the 21 million Bitcoin limit mining requires more computing power?

So wouldn't this kill of your average miner and give the power of mining to bigger corporations who can afford to have high amount of computing power to solve these harder mathemathical problems?
submitted by universeatom to Bitcoin [link] [comments]

So what would happen to bitcoin or crypto if there was a revolution in computing power? A key tenant of bitcoin is that it requires exponentially more difficult problems in order to mine, but what happens if we outpace what was meant to hold us back? Quantum computing pops into mind as an obstacle.

submitted by coolcatCS to Bitcoin [link] [comments]

"The overall network throughput and optimization required to handle the tx rate of 10 minute 128MB blocks on a normal computer is a work in progress that seems to be completely unnecessary at this point but I am moving it from the giga_perf branch to dev now." u/thezerg1 - Bitcoin Unlimited /r/btc

submitted by cryptoallbot to cryptoall [link] [comments]

"The overall network throughput and optimization required to handle the tx rate of 10 minute 128MB blocks on a normal computer is a work in progress that seems to be completely unnecessary at this point but I am moving it from the giga_perf branch to dev now." u/thezerg1 - Bitcoin Unlimited /r/btc

submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Question regarding scaleability and computing power

So I know that there’s a bottleneck with transactions making the process too slow (without the Lightning network) for mass scale use for small transactions.
My first question is: with increased computing power, are transaction times going to improve? Or is the bottleneck a hard theoretical limit?
Second question: If computing power isn’t the problem, can the code be improved? Why do other currencies not have the same problems?
submitted by Responsible_Sun_351 to Bitcoin [link] [comments]

Does monero have any strict disadvantages versus bitcoin like transaction speeds/fees, mining centralization etc that are inherent to the technology?

Obviously it currently has higher transaction speeds due to a lower number of users, but as I understand it monero is bitcoin + a few anonimity modifications to the protocol. Do these modifications increase the computational power required for mining given the same transaction volume compared to bitcoin? In other words, how much are you paying for anonymity?
submitted by stupidQuestionsAlt2 to Monero [link] [comments]

[r/science] Study claims Bitcoin uses as much energy as Ireland, but experts don't agree. The rise in popularity of Bitcoin and other cryptocurrencies has been met with growing concern about the energy usage required by the thousands of computing systems that power these virtual currencies.

[science] Study claims Bitcoin uses as much energy as Ireland, but experts don't agree. The rise in popularity of Bitcoin and other cryptocurrencies has been met with growing concern about the energy usage required by the thousands of computing systems that power these virtual currencies. submitted by lyonsy1 to IrelandonReddit [link] [comments]

Should I buy a hardware wallet if I only possess $100 worth of bitcoin?

So today was my first day to purchase $100 of bitcoin using shakepay. My intention is to buy $100 worth of bitcoin every month (I’m 19yr old so a bit tight on budget) for the next 20 years. I am also not willing to trade bitcoin, will just hold onto then pretty much forever. Do you guys recommened buying a hardware wallet? Or what kind of wallet should I store my bitcoin? I know I’m not supposed to store my bitcoin in the shakepay app, but I’m pretty lost here..
submitted by suhdanny to Bitcoin [link] [comments]

When/if Bitcoin needs to implement protection against Quantum-computing, is there a way to make it as time consuming without requiring as much electricity?

submitted by Phalex to Bitcoin [link] [comments]

03-02 20:23 - 'Centralization is a scaling issue. Scaling inherently requires more computing resources (not just storage), which makes it more difficult for people to run nodes, and also makes it more demanding for existing nodes to rema...' by /u/buttonstraddle removed from /r/Bitcoin within 0-9min

'''
Centralization is a scaling issue. Scaling inherently requires more computing resources (not just storage), which makes it more difficult for people to run nodes, and also makes it more demanding for existing nodes to remain in operation.
The network is more robust with the more decentralization we have. The only benefit bitcoin offers over other payment systems and currencies is that it gives its users the power and control, without interference from governments and banks. That is the only benefit. Blockchains are an extremely inefficient technology, and so they will never match the speed or usability of a completely centralized system such as paypal or visa. But that's ok, because that's not bitcoins use-case. And so, to achieve bitcoin's only advantage over these systems (resistance against government), we should want as much decentralization as possible
Luke's view is that we are already too centralized
'''
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unreddit undelete link
Author: buttonstraddle
submitted by removalbot to removalbot [link] [comments]

[new estimate] Quantum computers require at most 2330 qubits and 129 billion gates to crack Bitcoin's secp256k1 elliptic curve (we are at 17 qubits today).

submitted by BitcoinAllBot to BitcoinAll [link] [comments]

How to Mine Bitcoins Using Your Own Computer - YouTube 5 Settings For Mining Cryptocurrency On Windows 10 - YouTube How To Build The Cheapest Mining Rig Possible! - YouTube ETHEREUM MINING HARDWARE REQUIREMENTS... How to mine $1,000,000 of Bitcoin using just a laptop ...

Bitcoin Core can be run on an always-offline computer, creating an offline wallet (also called a cold wallet). The offline wallet will securely store the private keys, while a separate online Bitcoin Core wallet will send and receive transactions. Learn more: Creating and signing offline transactions Part 1: Hardware Requirements. Mining rigs come in all shapes and sizes. For the purpose of this guide, we will focus on building a very basic rig. This guide is intended to get you started and to assist in building your first rig. Once you know how to build one, you can grow your rig empire as big as you want. We will show you how to build your very first rig for under $1000. If you don’t ... Durch Bitcoins Mining können Sie Einheiten der virtuellen Bitcoin-Währung erhalten. Mit entsprechendem finanziellen Aufwand kann so jeder Computer-Besitzer nebenbei Geld verdienen. Wie das geht und was Sie dabei beachten sollten, erklären wir Ihnen in unserem Ratgeber. However, just because you do not own an expensive ASIC miner doesn’t mean you can’t “mine” with any average computer to ultimately obtain Bitcoin (using a regular CPU, GPU, and even a Hard-Drive). First Option: Mine Monero with CPU. Monero is a particularly interesting alternative to Bitcoin. Unlike Bitcoin where every transaction is public on a distributed ledger, Monero offers true ... Bitcoin Core full nodes have certain requirements. If you try running a node on weak hardware, it may work — but you’ll likely spend more time dealing with issues. If you can meet the following requirements, you’ll have an easy-to-use node.

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How to Mine Bitcoins Using Your Own Computer - YouTube

antminer power requirements. Antminer power supply setup. Are you ready to start bitcoin mining? What are antminers? Learn how to power your antminers and an... SUBSCRIBE FOR MORE HOW MUCH - http://shorturl.at/arBHL Nviddia GTX 1080 Ti - https://amzn.to/2Hiw5xp 6X GPU Mining Rig Case - https://bitcoinmerch.com/produc... This is what you need in order to mine BitCoins or other crypto-currencies. This hardware guide tells you what you will need to buy to get started. Keep in m... Mining Bitcoin is as easy as installing the mining software on the PC you already own and clicking start. Anyone can do this and see the money start rolling ... How to configure Windows 10 for your Mining Rig to get the best hashrate in ethereum and more. Parts: MSI Pro Series Z270a: http://amzn.to/2sHVqNX Intel Pent...

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