Bitcoin miner - page 9
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There is a discrepancy between you and Starikov, who you recommend for enlightenment:
Starikov says there is no difference between bitcoin and the dollar - they are a means of payment.
That's what I thought, but it turns out I thought wrong.
In fact, bitcoin is quite suitable for the role of currency, and in fact is no different from it. But its inflation is strictly rationed, and it is very easy to use all over the world. That's what makes bitcoin terrible for bankers. There is nowhere to get "extra" bitcoins, unlike rubles, dollars or any other "regular" currency, in case of need.
My guess is that bitcoins (and other cryptocurrencies) will either be severely restricted in their use, or banned altogether. They will leave a cryptocurrency, whose inflation can be twisted as the Central Bank sees fit. Foreign countries, I think, will do the same.
I will be glad if I am wrong, and bitcoin, with its normalized inflation, will have time to become widely used.
That's what I thought, and it turns out I thought wrong.
In fact, bitcoin is quite good as a currency, and in fact is no different. But its inflation is strictly rationed, and it is very easy to use all over the world. That's what makes bitcoin terrible for bankers. There is nowhere to get "extra" bitcoins, unlike rubles, dollars or any other "regular" currency, in case of need.
My guess is that bitcoins (and other cryptocurrencies) will either be severely restricted in their use, or banned altogether. They will leave a cryptocurrency, whose inflation can be twisted as the Central Bank sees fit. Foreign countries, I think, will do the same.
I will be glad if I'm wrong and bitcoin, with its normalised inflation, will manage to become widely used.
You can easily regulate bitcoin inflation in limits, determined by your share in generation of this currency. If China for example nationalizes (or somehow regulates) all the farms and exchanges in its territory, it could very well manage inflation. Which is what happened recently with the restrictive law.
You can easily regulate bitcoin inflation, within the limits defined by your share in bitcoin generation. If China for example nationalises (or somehow regulates) all the farms and exchanges in its territory, it could very well manage inflation. Which is what happened recently with the restrictive law.
And how will he be able to manage it?
Well, he nationalised the farms. What next?
If they keep working, bitcoins will continue to grow at the same rate.
Let's say China decided to freeze inflation - stopped the farms. After a short time, the difficulty of mining will drop, and miners from other countries will - get all they need. Inflation - will remain the same.
Suppose China decides to accelerate inflation ... How will it do that ? Set up more farms ? The complexity will immediately increase and inflation will remain the same.
Offer bitcoin inflation control mechanism to central banks and they will pray on you.
They are not stored and it is useless to store them. You don't have the media for that much data, and even if you do - the access rate to it will be slower than the rate of re-generation.
Then here's what I don't understand - there's a software in which the enumeration counter to generate the hash - so how does this counter work - random random that repeats?
Then here's what I don't understand - there's a software that has a brute force counter to generate the hash - so how does that counter work - a random random that repeats?
Yes, there is a counter whose value needs to be bruteforced and can be repeated. And there's also other data in the input from the block, which makes it impossible to pre-calculate all hashes for all possible counter values.
1. Search the internet for "mining pool"; websites usually have instructions on how to join. In general it looks like this: the mining software needs to pass a parameter-link to the pool, from which it will take the initial data from which the new blocks will be mined.
2. I have no idea. At a minimum, I'd need to develop software that distributes mining tasks + if found, quickly transfers it to bitcoin nodes + calculates hash rate of all participants in the pool + controls fairness of the participants.
3. Suppose 100 MBit / ddos protection / backup in case of channel failure.
About one block per day: you need to have ~1/144 of bitcoin network in your hands. Just calculate how many S9 ASICs you need for that and how much power they consume. That's the minimum cost, so to speak.
Thank you very much.
Decided to test free service with my computer's video
The result is not comforting 1 $/day (my card isn't bad...)
ahahaha the card is not bad 970) put at least a couple of 1080ti and you'll be mining for wieners)
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