Should I buy two s19 pro now or wait and buy 1 s19 pro XP in October. Prices are down now for the miners, will btc rally by October or not? If it will then I’m better off buying two s19 pro now but with the halving coming up, maybe I should wait for the pro XP. What do you advice?
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He's 500 times slower than a S19XP, so he needs a pool share difficulty 500 times smaller than other miners If he can find a pool which allows the miner to choose his pool share difficulty ... He gets about 100 Sats per day, better than a slap in the face with a wet fish, but less than the cost of running a 15W ASIC for 24 hours
I have mixed feelings on your post. On the one hand, I agree that the fear tends to be a little overblown, and you're right that that the risks are usually grossly oversimplified. However I don't think it's a necessarily bad thing to instill an abundance of caution in the users who are less knowledgeable than you or it, even if that means oversimplifying the risks to a point which isn't *entirely* true. I do take issue with one item in your post, because I feel you're overcorrecting, and going too far in the opposite direction: > You can not lose your crypto when clicking a link or even connecting your wallet to a malicious website. This is actually not universally true. There may come a time when you (or someone else reading this) might be affected by a zero-day exploit in your browser or wallet software, or perhaps it's not a zero-day but the system isn't fully up to date. There absolutely are browser bugs wherein an attacker can achieve remote code execution on the client simply by getting them to visit a malicious link. They are not the norm and they *shouldn't* happen on a fully up to date system, unless you're just extraordinarily unlucky and happen to be one of the first victims before the exploit or bug is well-known and patched. However they are a very real risk, so your categorical statement is not strictly true. I don't usually share this, but I'm speaking from experience here. I'm a little ashamed to say, but back in the XP days, I had a Windows box get rootkitted and the *only* possible explanation was visiting a malicious website. I strayed outside the usual sources when looking for pirated MP3's on a single occasion. That's all it took. I didn't install any executables, and didn't download anything suspicious, just visited a sketchy website and clicked a few links before nopeing out. It took months before I finally noticed the infection, due to some hidden database files it was creating which were starting to grow to large sizes. Now before you say "Of course you got owned; you were on XP," keep in mind that this was well over 15 years ago, and the software was reasonably up to date at the time. Every computing generation has its share of bugs like this, and patching religiously won't always save you, because a bug must be found before the developer can patch it, and sometimes the bad guys find the bugs first. My mistake was that I got cocky. I had plenty of infosec knowledge and experience and knew general good data hygiene practices. I've researched malware, and written malware, and I know how to safely handle malware. But, much like you're doing today, I underestimated the likelihood that I would get unlucky and run across a more exotic or sophisticated exploit. So to anyone reading, take OP with a grain of salt. They are 99% correct here, but you're still better off avoiding any suspicious links. You'll always be at less risk if you simply choose not to interact with a suspicious resource.
it has the highest hash and the best hash per watt efficiency . I don't think it's the best price per hash though. It's about 8k usd so about 3c a th/s. The next best one is the antminer S19 XP which has 140 th/s and is $4000, so is about 3.5c a t/h https://minerstat.com/coin/BTC/profitability
Sorry, my slow brain didn't see the switch from S9 to S19 900 * 1100T / 258E = 0.00038372 BTC per day 900 * 1100T / 400E = 0.00024750 BTC per day I haven't reviewed your solar panel or battery estimates. I used to have a rule of thumb for off-grid planning, that a panel provides its rated capacity 4 hours per day, and that a battery should have 72 hours storage to allow for cloudy periods as well as night hours. In real off-grid installations, this puts the cost way over the property owner's budget, so they scale down to a budget and fill the capacity gap with diesel power In any case, your numbers show a substantial net loss. But if your scale is 10x110T S19, your power requirement is 30% less by choosing S19XP. They're more than $2000 each. The S19 is discounted to $2000 because the 30% lower energy per TH for the XP has made the S19 obsolete. Also, the S19 will soon be much cheaper, due to the impending insolvency of several large users. Used insolvency S19s will be under $500, and Bitmain will probably reduce the new price for as long as they have any inventory of new S19 devices There's a migration towards only using the more efficient miners. It's impossible to tell how far this has progressed. It is hampered by XP demand exceeding supply, by the huge price cuts for the non-XP S19 models, by the size (unknown) of Bitmain's non-XP S19 inventory, and the existence of competitors. None of the competitors has a device as efficient as S19XP. This will gradually create a near-monopoly for Bitmain Bitmain prices change frequently. They never keep an archive of pages which display old prices
>Running the miner costs $2000/month with a return of $1500/month. Loss of $500. No, its a loss of $1500. You didnt add the $1000 loan here ​ I don't have any loans or ASICS running but heres an example I buy an Antimer S9 XP Hydro for $10k borrowed money - My monthly repayments are $500 for 200 months. I have to pay this regardless of whether my ASIC is on or off My current electricity cost is 30c kwh here in Australia (Pretty high I know!) I get $26 a day in BTC, but costs me $38 in electricity - in 30 days it actually costs me $360 to run So my total costs are -$500 (Loan) -$360 (ASIC running cost) = -$860 If I turned my ASIC off, I only have to pay $500 for my loan If your Miner is costing you more to run in electricity than rewards, then turn it off.
I thought of it like this the gpu used nearly 6kwh a day - manageable to cover the costs of if didn't want to sell to cover the costs and you just wanted to hold or help the network The antminer S19 XP Hydro uses 125kwh a day. You have to have huge pockets to cover that running cost without selling btc
Disagree. They are talking about which version of S19 (29.5 J/H), not market conditions, BTC price, or anything else that needs real-time data. Early Nov until now is like… eight to ten weeks? I don’t know of any large operations that have already swapped out tens of thousands of miners for S19XP’s. More concerning is that this states large scale TX miners pay 0.086/kWh. When I toured Riot outside Austin they hinted at 0.06ish as full operating costs to make BTC.
5 years if BTC stays around 20K If BTC hits 40K+ asic is still a golden opportunity to heat your entire home for free. There’s no other heat source in the world that can make you money instead of cost you money. You also haven’t factored in pool rejection which scales based on your hash rate. You also haven’t factored in 3 phase power to reduce costs by increasing efficiency. You also haven’t factored in liquid cooling immersion systems like bitcool products. Lower power draw with all the fans no longer being active. Hell you can even overlock an XP go 160 TH/s per unit. Just a heads up I do all 3 of these things and make more money mining than I have doing anything else. Before the merge I was making even more with my GPU operations which have now basically halted. Also solar panels are ridiculous now in price I can get them for 50¢ per kW because I’m friends with the manufacturer in China. I’m sure that’s not everyone but then I have an idea, get a solar lease then turn the miners on after they do the install…
> whether every block is computationally guaranteed to have a nonce Depends on the definition of block. If "block" implies an unvarying Merkle tree, no guarantee. If "block" is defined only by the non-coinbase transactions, then there is a guarantee that there will always be a valid combination of coinbase transaction and nonce to win the race Deviating briefly, Bitcoin mining would work even if there was no nonce, as long as the space for extranonce in the coinbase transaction was large enough that a random number or an incrementing number could be large enough to never have duplicates (or "roll over" in the incrementing case). Mining would be a lot slower It is reasonable to assume that there is already no duplication (once upon a time there were duplicate coinbase txIDs in separate blocks) from pool to pool, because each pool has a different payout address in the coinbase transaction It's reasonable to assume that there is already no duplication from miner to miner, because each miner includes his pool member ID in the coinbase transaction input scriptSig That is, because of trivial differences in the coinbase transaction from pool to pool and miner to miner, every miner's coinbase transaction has a different txID. Even if thousands of miners have the same transaction set in their candidate blocks, the trivial difference in the coinbase input scriptSig makes every miner's block header Merkle tree root hash different Assume every miner changes the block header timestamp once per second It follows that ... The size of the nonce+extranonce space needs to be significantly greater than the per-second hash rate of an individual miner Since 2009, the hash rate has increased from less than 4 billion per block (7 megahashes per second) to 250 exahashes per second. The device with the highest hash rate is Antminer S19XP-hydro at 255 terahashes per second. The base2 log of 255 trillion is about 48. The nonce+extranonce needs to be longer than 48 bits, and longer still if extranonce is random (not incrementing) A pedant would note that because the nonce rolls over 35,000 times per 140 trillion hashes, it's not single use, therefore not strictly a nonce
The nonce wasn't even big enough in 2009 with difficulty 1. The nonce is 32 bits. The target value *0x1d00ffff* equivalent to difficulty 1 requires an average 4,295,032,833 hashes per block, which is slightly greater than 2^32 = 4,294,967,296 > do miners just add a transaction to their block Sometimes, but mostly no. Most miners rely on their pools to supply candidate blocks. The pools send modified candidate blocks to their miners several times during each mining contest, mainly to optimize fee revenue. This is why you can sometimes get a transaction confirmed in the immediate next block instead of having to wait for the block after Some giant numbers and tiny fractions of a second ... A typical mining device is a S19XP which hashes at 140 trillion per second. The nonce rolls over after about 4 billion hashes, about every 30 microseconds, or 35,000 times per second There's not really enough time to grab an extra transaction in 30 microseconds, or enough transactions in the mempools to do this 35,000 times per second Contrary to the other comment, a miner isn't going to change the coinbase payout address. This is supplied by the miner's pool. It has to remain constant for the miner to be paid for his pool shares Being a Bitcoin transaction, the coinbase transaction has an input. But being the coinbase transaction, the input does not spend any existing coins. It serves as a placeholder, and Bitcoin script is flexible so that a trivial Bitcoin script can add between 2 and 100 bytes of arbitrary data to the coinbase transaction input's scriptSig Miners use some part of this space to communicate with their pools. They also create a random number called extranonce and store it in the coinbase transaction input's scriptSig Changing the coinbase transaction input's scriptSig changes the coinbase transaction's txID hash, which in turn changes the Merkle root hash in the block header, which means the miner can churn through 4 billion more hashes until the nonce rolls over again The timestamp has a precision of 1 second. It can also be changed, once per second
and you are guaranteed a reward for your effort. Solo mining you may get a block with 100% rewards, or get nothing ever if you are unlucky https://www.nicehash.com/blog/post/how-is-solo-mining-probability-calculated >Let's take a look at solo mining with one of the top-of-the-line ASIC and what is its probability of finding a block. >AntMiner S19 XP speed: 140 TH/s >Bitcoin Network Hashrate: 215,370,000 TH/s >Bitcoin Block Time: 10 minutes >If the above example, AntMiner S19 XP has 1/1538357 of the network hashrate. The miner has a 0.000065% chance of catching the block every 10 minutes. This means that it will statistically catch a block every 1538357 blocks or 10683 days, which equals to 29 years.
I think bitcoin heaters are a very cool trend and as years go by, it will become a more viable way for each household to have one and save money on electricity. Right now, an S9 has an energy efficiency of 0.1 J/Gh, while an S19 XP has an efficiency of 0.02 J/Gh. A 'professional grade' ASIC is therefore 5x more efficient. However, as time goes by, the evolution of miner efficiency will slow down and 'amateur' ASIC's could only be 2x less efficient, meaning that instead of getting a ~15% rebate from the BTC sold, you would get a 50% rebate. source: https://lightningnetworkstores.com/discuss/57000000101
Hard cap for starters. Over a decade of stress testing for another. Nah vinyl is really strong globally. Go anywhere in Japan for example and most djs still play out and hoard vinyl. All of drum and bass, jungle, and other types of dance music are still vinyl elitist. Try and find a cheap set of technics 1210s. Trillions of dollars of GDP still rely on fax, probably tens of trillions. All of Law, insurance, conveyancing etc. Some tech remains strong due a purist element, others because its robust. USA military still runs on XP for example. Being on the bleeding edge of tech is wholly undesirable when you're talking about serious money.
> Will ASIC's be able to improve on their Hashrate/Watt performance over time? Yes. > Has this been happening over the last few ASIC generations? Yes. Miner | Release date | Energy usage --|--|-- Antminer S1 |2013| 2000 J/TH Antminer S3 |2014| 780 J/TH Antminer S5 |2014| 500 J/TH Antminer S7 |2015| 280 J/TH Antminer S9 |2017| 98 J/TH or 0.85 J/TH Antminer S11 |2018| 70 J/TH Antminer S15 |2018| 57 J/TH Antminer S17 |2019| 45 J/TH Antminer S19 |2020| 35 J/TH Antminer S19 XP |2022| 22 J/TH Note: S9 power consumption dropped by 15% with Asicboost support.
Buying devices with 30% higher electricity consumption was only one error made by these companies. Their big mistake was not realizing that rushing into an opportunity which appeared to have big profit margins (Bitcoin miners through 2021 earned unusual profits because of a device shortage caused by a chip shortage caused by extreme production shortfalls as the chip foundry, TSMC) would cause those margins to close up. Whoever did the business model for these companies failed to understand that their own (and other new companies) contribution to high hash rates would reduce the Bitcoin amount earned by all miners including themselves This ignorance meant that their profit margin was squeezed to the point where their S19 devices couldn't profit at all after all the new Nasdaq listed miners came on-line and then when the S19XP count reached a certain level a few months later. The losses are compounded further by the Bitcoin price fall between when they planned the business and when they finally came on-line
> Hashrate/Watt It's measured the other way around: watts per TH per sec. A watt is 1 Joule per second, so it's redundant to have "per seconds" on both sides. The unit used is Joules per terahash. You can see this on all the manufacturers' Web sites Energy efficiency of SHA256 ASICs has fallen substantially over time, mainly by increasing the gate density on the ASIC chips. The four most recent generations * Antminer S9 16nm 98J/TH * Antminer S17 7nm 45J/TH * Antminer S19 7nm 29.5J/TH * Antminer S19XP 5nm 21.5J/TH There's not much scope for going smaller than 5nm. Contrary to the other comment, there's no such thing as infinite improvement in technology. Technological determinism is a cargo cult --- It makes no difference anyway. The effect of reducing energy per hash is to increase the global hash rate until the energy use is the same Also, there is a perverse market effect. If only one manufacturer has 21.5J/TH ASICs, then miners buy only those because they have a 30% lower power cost. This causes the previous generation to become prematurely obsolete. The current rash of miner bankruptcies is partly caused by this phenomenon. Those companies made the mistake of choosing S19 for its lower price, and are now unprofitable because they're using 30% more energy per TH
I've used like 15 different linux distros, I have used Windows Me, XP, Vista, 7, 10, 11, I have used many different MacOS versions. I am not a fanboy, I am just pointing out the fact that saying "people will switch from windows or macos to linux" is a fucking fantasy.
only two ASICS are profitable at 10c kwh ($USD). Antminer S19 XP - 140 th/s ~ 1 USD a day profit Antminer xp Hydro - 255 th/s ~ 2.3 usd a day profit the S19 XP is $5000 + the xp Hydro is 10k + definitely not affordable cheap in my books and the ROI is years
You can only trust Bitmain, the manufacturer. There are dozens of Bitmain clone sites offering to sell Antminers. 70% of them are fake, you send money they send no Antminers. But from bitmain.com only Also, so many miners have upgraded to S19XP that the older miners are all making losses, at any electricity price, because they use 30% per electricity per petahash. See this at https://www.asicminervalue.com/efficiency/sha-256
> 99% of ASICs come from Taiwan Taiwan is not China > the miners are manufactured in China They're not [Bitcoin Miner S19 XP](https://shop.bitmain.com/product/detail?pid=00020221207112834836QOH9yDvJ0692) > The products are made in Malaysia Check facts before posting
My apologies, I confused IBM with Intel > I assumed 10W/chip to produce a 500GH/s output That's unlikely, because only the 5nm chips from the S19XP are as low as 21.5 Intel's announced chip was somewhere around 36, but they also had a vague announcement about a "version 2", which isn't made by Intel, but is supplied by Bitmain, the 5nm chip from the S19XP Here, they're labeled BZM1 and BZM2 https://www.anandtech.com/show/17218/intels-next-gen-bitcoin-asic-called-bzm2-built-on-7nm-137-gigahashsec-at-25-w This article was published before the ISSCC conference. The announcement at the conference had different figures again (higher than 30) BZM1 is a 7nm chip, and Bitmain's 7nm chips consume about 30. So the Intel 7m chip isn't going to run at 18 BZM2, in later articles, is nothing more than Intel buying the Bitmain 5nm chip - not necessarily a bad thing, since Bitmain has a monopoly. They consume 21.5J/TH In this press release, Intel is claiming 26 https://www.intel.com/content/www/us/en/newsroom/news/intel-launches-new-intel-blockscale-technology.html I suggest that's optimistic They appear to be deliberately omitting details of the engineering, probably to avoid comparisons which would reveal that their chips are equivalent to 2018 Bitmain chips If you could get a supply of 5nm ASIC chips direct from Bitmain, you could own the market in 1TH/sec and 2TH/sec cards My cooling comment was about 100-chip cards. That's equivalent to a quarter of a S19 box, which has approx 100 chips per card on 3 or 4 cards. In a S19 box, they're cooled with two high flow-rate fans at the back and 2 at the front. A PC case doesn't have enough holes See the cooling requirements for the GekkoScience USB. They're something like, "you'll need a good fan" https://www.amazon.com/GekkoScience-FS7-Bitcoin-Efficient-Powerful/dp/B09HYQT4PT
> In a long-term bitcoin vision, how do we see this problem being addressed? I see a price collapse putting hundreds of thousands of miners out of business, and a secondary market flooded with S19XP devices I see a cottage industry, tweakers breaking apart S19XP boxes and putting 2 or 4 chips on a card - USB or PCIe - and selling a 4 chip 2TH/sec card for $40 There is something similar already available - but it's based on obsolete chips from S17 devices, and a 2-chip USB stick costs $200 for 300GH/sec https://www.amazon.com/GekkoScience-FS7-Bitcoin-Efficient-Powerful/dp/B09HYQT4PT In 2021, squareblock Jack Dorsey announced a home miner. He delegated it to his head of hardware. That guy reannounced it, but nothing has happened since then
> 4.8 to 22.7W per chip Why so vague? The upper end of this range (consistent with IBM's 2021 announcement) makes these less efficient than a S17, years out of date > 50 TH/s for about 1000W More likely 22700W, or 45J/TH, double what every profitable miner is running - S19XP at 21.5J/TH > Profit per month would be about $30 You can't claim that because you don't provide accurate power consumption figures. Looks like a loss-maker from here Although, the numbers don't matter much. Nobody will be able to cool a 100-chip PCIe card
3k of panels won't power an ASIC. the only ASIC that is profitable is the Antminer S19 XP Hyd which is 4k USD and uses 5.2kwh. 24/7 is 124 kwh a day My 6.6kwh panels can generate 45 kwh a day maximum on a sunny day. You would need a system 3x the size to power one ASIC fully and that's at maximum solar output
> S19j Pro (104TH/s) machine, which is about 2,000 US dollars, based on the above revenue, the payback period is about 27 months Stop assuming an obsolete device has a payback period. It doesn't. That's why its price has fallen so far. Everybody who buys a S19 today will lose money, because a S19XP uses 30% less electricity
>Then going back to a job you left years ago to find out your buddy in IT has the PC in a storeroom, all the rest were recycled. You have the keys to the wallet on the desktop(Windows XP). Next thing you know you have din din with Elon and XAe\*2.0.
> Where can I find the Current Target? In the most recent block header bitcoin-cli getblockheader $(bitcoin-cli getbestblockhash) . "hash": "0000000000000000000410fcb54c86df13bb51507b17f0baaac822bc7f314821", "confirmations": 1, "height": 765177, "version": 764338176, "versionHex": "2d8ee000", "merkleroot": "e2db020ebd47cb8aaede7e14312941f0f38c39dfd6ab8edb3ca100075067ecbe", "time": 1669729297, "mediantime": 1669727377, "nonce": 1662663735, "bits": "17079e15", "difficulty": 36950494067222.41, "chainwork": "00000000000000000000000000000000000000003a71a95a1260e0443d5240aa", "nTx": 1753, "previousblockhash": "00000000000000000003efaf55043b232dc9afcddb0e54d1b6fb0099a401f5d2" "bits": "17079e15" > How is the current target defined? There is only 32 bits of space to store it, so it is compressed into a "coefficient/exponent format, with the first two hexadecimal digits for the exponent and the next six hex digits as the coefficient. In this block, therefore, the exponent is 0x17 and the coefficient is 0x079e15" See this in Ch10 of Mastering Bitcoin https://github.com/bitcoinbook/bitcoinbook/blob/develop/ch10.asciidoc Search down to "Target Representation" The text book demonstrates some exponentiation calculations, but there is a shortcut The exponent is the number of bytes after the leading zero bytes including the 3 bytes of the coefficient. In the current block this means that in *17079e15* the 0x17 exponent is decimal 23, so the uncompressed representation is 23 bytes long including the coefficient. That means, it's the coefficient followed by 20 zero bytes 079e150000000000000000000000000000000000000000 With leading zeros ... 000000000000000000079e150000000000000000000000000000000000000000 Similarly, the original and maximum target is *1d00ffff* which is 00000000ffff0000000000000000000000000000000000000000000000000000 > Why is the MAX target ... not F's only The max target is arbitrary. The fact of the trailing bytes being '00' or 'ff' is of no consequence. A simple arithmetic fact ... ffff0000000000000000000000000000000000000000000000000000 - 1 = fffeffffffffffffffffffffffffffffffffffffffffffffffffffff and ffffffffffffffffffffffffffffffffffffffffffffffffffffffff + 1 = 0100000000000000000000000000000000000000000000000000000000 So the choice of 0x00 over 0xff is a matter of 1 higher or lower > How to interpret the Difficulty figure? Difficulty is inversely proportional to target, and the original target *1d00ffff* is defined as difficulty 1. This is explained in the Bitcoin wiki https://en.bitcoin.it/wiki/Difficulty > What does this figure mean exactly? In your terms, difficulty is the average number of hashes required per block divided by 4295032833 See this piece of work for an explanation https://np.reddit.com/r/BitcoinBeginners/comments/v7usdp/bitcoin_difficulty_whats_the_unit/ibq73ug/ So your calculation should be 36950494067222.41 * 4295032833 = 158703585214291960063387 hashes per block or 36950494067222.41 * 4295032833 / 600 = 264505975357153266772 hashes per second which is about 264 Exahashes per second, somewhere close to the current quoted hash rate. To be precise, it's an accurate estimate of the average number of hashes per second for the previous 2016-block adjustment period > that an average ASIC has a hash power of 166TH/s The network is currently a mix of 140TH/sec S19XP and 100TH/sec S19, with smaller amounts of non-Bitmain devices, and very small numbers of Bitmain devices older than S19. No idea if the average is closer to 100 or 140 > Where can I find resources Some in the Bitcoin Wiki. Everything in the Antonopoulos book, especially ch10 for mining. The trick for counting trailing zero bytes to convert from the compressed format was worked out in my head (very slowly) Also https://developer.bitcoin.org/reference/block_chain.html#block-headers
> As miners improve, will this not push the difficulty adjustment too high for profit, or at least limit the equipment to be able to compete after a short period of time? Probably not. This was an issue in the early years. But the current 5nm devices are unlikely to be superseded for years. The more important question for a new player is whether to buy the 5nm devices or the much cheaper 7nm devices The 5nm devices consume 21.5J/TH, compared to 29J/TH for the 7nm devices. Device pricing heavily favors the 7nm devices. Also, only one manufacturer has the 5nm devices so far - hence the price extortion The certainty is that the only miners who will be profitable in 6 months (or less) will be burning 21.5J/TH, 30% less than the others For whatever reason, the manufacturer hasn't tagged the 5nm devices with a new model number. Antminer S19 and S19Hydro and Pro are 7nm. Don't be fooled by "hydro". This gives you more hashes, but still burns 29J/TH. The 5nm devices are S19XP. You can tell you're buying that because the price is almost double. Only buy from the manufacturer. The other marketplaces are rife with thieves > How do I know that the rewards are distributed at random? Wow! Buy a calculator. Bitcoin mines 52,000 blocks per year, and there are about 2 million miners. You mine solo, you wait 30 years for a single payment. Everybody is in a pool. A pool does not mine Bitcoin Rewards are random due to the logic in the software. The probability basis is explained in this comment from earlier this week https://www.reddit.com/r/Bitcoin/comments/z5i5yw/bitcoin_riddle/ixxrbdm/ > Does the network distribute bitcoin rewards in full coins The network doesn't. The miner builds a block of transactions. The first transaction in every block is called "coinbase". It's a special transaction, pays to an address, does not spend any coins. The reward amount, plus fees, is paid to the address in this transaction. Every miner uses the address supplied by the pool manager. The pool receives the amount, which is currently 6.25 plus fees. Fees vary from block to block In Bitcoin there is no such thing as a full coin. Every amount is an integer count of Satoshis. The reward amount in a recent block was 657,476,092 Satoshis The pool distributes its rewards to its members based on the work reported by each pool member to the pool https://en.bitcoin.it/wiki/Pooled_mining Joining pools means everybody gets paid, although hardly anybody actually mines any blocks --- Profit can be calculated on mining calculator sites. These have one huge flaw. They use the current difficulty level, or some of them allow for a nominal monthly difficulty increase. This gives the naive wannabe miner an impression of constant earning amounts But the difficulty - an indicator of how many terahashes are sharing the fixed 450 daily reward - recently increased by more than 100% in a short period > electricity costs was at average prices No such number. Don't be vague. Enter your actual price in the mining calculators Have you ever heard of the beer game?
> the miner only changes the nonce with every hash Think about the numbers. The nonce is only 32 bits. That means it runs out of values after 4,294,967,296 hashes. An Antminer S19XP runs at 140 trillion hashes per second. This means the nonce starts repeating after 30 microseconds Because the nonce runs out so quickly, the miner has to modify the Merkle root at least 32,605 times per second. He usually does this by changing a random number (extranonce) in the dummy SigScript of the coinbase transaction's input. The coinbase transaction is the first transaction in the block, so the miner has to recalculate the left branch of the tree and the root hash > how when i broadcast a transaction with high fee its immediately included in the block candidate and not in the next round when miners construct new template with transactions from the mempool? Very observant. Why aren't you waiting at least 11 minutes for every transaction? Yes, the mining pools revise their members' candidate blocks several times during mining of each block, to add new transactions, and/or replace lower fee-rate transactions with higher fee-rate transactions The miner switches the new candidate block in when convenient - that is, he doesn't delay his hashing while recalculating the Merkle tree
> biggest mining farms will be able to buy cheaper equiments and gain more power This won't happen. The current price dip has pushed profitability away from Antminer S19 (29J/TH) and in favor of Antminer S19XP (21.5J/TH). The big miners which are going down are those which bought S19, because of the lower purchase price 6 months to 12 months ago. Their bargain S19s won't be purchased by large miners. They're going to be really popular for hobby miners. Prices will be under $500 per box > People seem very confident that the price will increase during the halving in 2024 The price of Bitcoin is not important
yeah BTC mining is how the network functions. it requires a lot of capital investment and either free or really cheap electricity though the highest performing ASIC is the Antminer S19 XP Hyd, which is about $20k and generates about $18 a day worth of BTC at the current prices it uses 5.3kwh so for 24 hours usage is 127.2kwh. This is where the really low cost electricity comes in
All good points. I would note that, mining hashrate at ATH, and that's good, but maybe more of a reflection of just increased mining efficiency(S19 XP is on the street now). Also, that high hashrate is making it hard on the existing miners - Core Scientific cited it specifically as one of the issues directly causing their insolvency. The Level 2 stuff (Lightning Network) is great to see. And the increased merchant acceptance is also just awesome. Great discussion, thanks.
So I don't think the movie itself will be where the transaction is. Here is a situation: The new Batman movie comes out and your have a Robin NFT. You and everyone else in the theater are wearing VR goggles. Since you have the Robin NFT, you get to view a certain scene from Robin's perspective which gives you a little foreshadowed knowledge of the movie. Then you could use that Robin NFT in a game, level it up with XP and sell it to someone else. After that, use the profits to buy the batman and have a different unique experience watching the movie again
I'm in south MS, my power costs right about 10.5 cent per kWh. And my S19 was losing money, mining at 95 Th. And there is a miner on the market now, the S19 XP, which is 47% more efficient than the S19 I had. Yeah, it really was time to kiss it goodbye. It's not coming back from that. Also, hash rate is at all time high and steadily going higher. It's a mug's game for the home miner, unfortunately.
I don't know where you got these numbers. However I can personally attest that, to mine a full Bitcoin in Mississippi, costs about a full Bitcoin. Unless you're getting really, really cheap power somewhere. Or unless you're talking about the most state-of-the-art miner, the Antminer S19 XP. I sold my S19 95Th miner because it was at breakeven with no profitability in sight. I challenge the accuracy of your chart based on personal experience.
Celsius’ ASICs are S19Pro-110TH mostly. They are “okay” in value, but just the newer generation S19XP came out and is coming online as we speak. With time, the value of Celsius’ ASICs are not on a good outlook to say the least
there's definitely not a million btc miners. Only ASICS can hash with the difficulty so high, and according to minerstat, only 3 ASICS are profitable after electricity costs the lowest performer of those 3 is 68c a day and is still several thousand dollars a piece There is no way there are millions of miners still in operation with the kind of capital required to even break even let's do the maths here the highest hashrate asic availble is Antminer S19 XP Hyd. 255 th/s @ 5kwh these are $5000 a piece so your $5 billion can buy 1 million units the. BTC network hashrate is 270 million th/s so for the 51% attack you need 137.7 million th/s 540,000 units are required to get 51% so it's mathematically possible Obviously that is not possible in reality . The logistics and infrastructure make that impossible (not to mention there won't be close to that many ASICS made) The electricity costs alone for 540 thousand is astronomical 64.8 million kwh a day. Even at 10c a kwh (which is really cheap), it's still $6.48 million a day in electricity not billions a day for sure, but billions a year absolutely
I've been thinking of buying a old PC to run Windows XP natively. Lots of games that I used to play back on XP are really buggy on Win 10, and compatibility mode is still buggy for them, and i'd rather get regular hardware instead of doing a VM for it. It feels like it could be a really fun project for my 4th PC :) The main issue i'm thinking is that i'd probably have to find some old enough parts if I wanted to upgrade a premade from somewhere like Ebay, since modern hardware seems to have issues running XP
People usually create games and quests which get featured as portals in the main lobby area. Sandbox for example incentivises you to do a lot of this. For example you can stake SAND and earn more SAND overtime but if you also own land that gives you access to more SAND, same for owning a collectible avatar and gaming asset. You can also earn sand just by completing quests. As you increase in level XP you get access to more SAND although you can't go crazy with it. It has limits. I recommend literally just playing it to try it out, it's easier than me explaining.
I'm selling my S19 for that very reason. Many big corporations nowadays get really cheap power costs, like excess solar and hydro or natgas that would have been flared and therefore is pretty much zero cost. Also the new ASICs on the street (Antminer S19 XP) are constantly obsoleting the old ones. Mining for the home basement guy, is a mug's game at this point.
>Wait and hope that the difficulty gets easier. That's the real question that determines what to do, really. If it's *not* going to get easier, it's time to cut it loose now, while I can still get something out. If it really *could* get easier, maybe I wait. What's the chances it gets any easier though? I mean, my power costs 10 cent, well there has got to be people out there getting it for 5 cent or less, otherwise how TF would the difficulty be so smokin high? You know? And to boot, there is now the S19 XP, which is 47% more efficient and it's hitting the street, soon there won't be room in the space for my machine....which is why I'm leaning toward cutting it.
No, no cost to that, except the obsolescence of the miner. The new S19 XP has just recently hit the street, and it's 47% more efficient...certainly the reason difficulty is so high, is that there are people out there getting way lower electrical costs, and possibly with more efficient machines. So...if I could get say, $2,500 right now for it, it's possible that I can't get $1,000 in half a year. Or whatever. Machines don't become more "state-of-the-art" over time, only less. That's my worry. Was wanting the reddit crowd's opinion before I act. Leaning toward selling it though.
tldr; Nasdaq has no immediate plans of launching a crypto exchange in the US until there's better regulatory clarity from policymakers, said Nasdaq's executive vice president Tal Cohen. He added that the retail side of the crypto market is fairly saturated and there are enough crypto exchanges catering to the needs of retail investors. Nasdaq partnered with Brazil’s leading brokerage service provider XP to launch its crypto exchange last year. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; TeraWulf announced the successful energization of its initial batch of over 3,000 Bitmain S19 XP mining machines from the previously announced agreement with Bitmain Technologies Limited for its Lake Mariner facility in New York. TeraWulf now has owned hashing capacity in excess of 0.67 EH/s (5,471 miners) online plus 6,500 miners with hosted hashing capacity for a total of over 1.3 *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Typical gaming systems are centralized, so users can use their game earnings such as xp or in game currency in only one game. However, blockchain games use a decentralized model so that users own their game data and can use it across other blockchain games For example, if a user is playing one blockchain game where they win XP and wea.pons, they can choose to bring those winnings over to another game when they leave. They could also sell them or trade with another player
Ok, my user XP since 2020 with crypto ... Bought ADA and another bunch , realised very fast that Cardano was the only stable income for just delegating my bag to some undersaturated spo. Eth - couldn't move , stake or do anything with it due to ridiculous fees ... then Buterin came out and said - Maybe its normal to pay such fees when trying to make money ... ok, i'm far from Making money wity dca strategy, it's at least a long game. So i've been dca-ing for 2 years now ... gues what changed, nothing... Ada bag is still the only solid reward producing bag , all the rest had changed system like Algo, Eth has to high minimum ownership , i mean 32 eth is a joke for the end game retailer who buys hundreds of bucks maybe a month. So , in the end , aside uitility , which they all have if adoption is interested , as an end game retailer with entry lvl money set aside from my salary, it's a god damn Fact for me , that Cardano pays off the best at this moment in time. Probably XTZ also works well , but the 8k minimum cap to gain voting/governance rights is to big again ... before i can make 8k xtz , i'll have tripple the Ada bag with serious compounding effect on rewards. The bulk users don't know and honestly don't care about all that technical mumbo-jumbo that i need a month to study just to understand the fine differences between one Cardano dPoS and and Eth current PoS ... but what i can do successfully, is have the User experience... and in that department Cardano takes the cake by a mile ... i literally had 0 issues with Cardano in my 2 years crypto hiatus , possibly the only chain with 0 wooes ... Algo fucked me with the Yieldly farming, if it never recovers ... so huu-fucking-ray for ASA's de-fi style that wrekt basically anyone who got into Yield farming and some in the LP section. Trust me, the Bulk will follow the most solid and non problematic Pay Out ... not the most de-fi environment ... that's slowly becoming a side point with all the Governments pushing towards dedicated DA's.
Hello mr. Prince, Unfortunately Mr. Jeff is tide up at the moment. He’s trying to go to space and it isn’t cheap. We do have bill gate here and he says it’s not a scam. In fact he will give a copy of windows XP and A Xbox to you for being so nice. Best, Vitamin
I'm going to give a very specific example of what I would like to see from a game I used to play a lot: Wolrd of Tanks. There are ten tiers of tanks among multiple nations. You have to grind credits and XP to unlock tanks of a higher tier in narrow research path. Any single tier X tank can take months of grinding through its lower tiers to unlock. It sounds tedious, but it's part of the alure of the game. So alluring, in fact, that that there are premium tier 8 tanks that can be purchased with real world money for which many folks spend thousands of dollars to acquire. But you can not purchase tier 9 or tier X tanks. Those requires hardcore grinding to unlock. If each of these unlocked tanks were minted NFTs, think these tier 9 or tier X tanks that can't be purchased in the game store, and they could be traded, wooo boy would that market place see some serious business. And on top of these regular tech tree tanks that can be unlocked, there are very special tanks with very lucrative stats that can be acquired through extreme test of skill grinding, or reaching high levels of ranked ladderboards. I've no doubt that there are some players with deep pockets who would drop $10K+ on some of these.