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FundAnything Bitcoin Miner Profit Sharing Investment Plan
I just launched a FundAnything campaign in order to collectively purchase a 600 Gigahash miner. • Funds raised during this campaign will be used to purchase a 600 Gigahash Bitcoin miner (very fast) • I will setup the miner and run it from my home • Bitcoins will be mined and shared amongst the investors • I can pay investors in Bitcoins (preferred) or I can send you a check in US Dollars Basically you help buy the miner, you can share in the Bitcoins that are mined. This is my first attempt doing something like this. I wanted to see how it would turn out. Your criticism, contributions, and ideas are welcome. Here is the link: http://fundanything.com/en/campaigns/become-an-investor-in-bitcoin-by-sharing-in-mining-profits What do you guys think?
Of Wolves and Weasels - Day 194 - Guest Post: Don't Underestimate Dogecoin
Hey all! GoodShibe... on vacation! (sort of!) Please enjoy this post by Guest Writer Sku and tip them well ;D) Note: To tip them directly: +dogetipbot @Sku xxx doge verify When a few people suggested to me that I should write a guest post for GoodShibe, I was quite surprised. I didn't consider myself the type of person who is a good writer, or was even the type of person people wanted to listen to. I remember reading the first of Wolves and Weasels post, just about 6 months ago. Never did I think it would still be going now, half a year on, and that I would be writing it. This has surely been the forefront Dogecoin daily blog for the entire community, and in Dogecoin's bright future it will be looked back on fondly. It is therefore special for me to be a part of it. It is people like GoodShibe who have been a pillar of this community, and kept us going through the good times and the bad, through complete dedication to Dogecoin every single day. But it is not just the GoodShibes who make Dogecoin, it is people like you and me. I am just a normal guy, who stumbled upon this whole crazy community in December through Reddit, and had no idea what I was doing. I picked up a few scraps from faucets, and my interest grew from there. 6 months later, and I'm writing an article about it. Dogecoin is powerful, because for too long, altcoins were only popular among an inner circle of enthusiasts, and it is truly Dogecoin which has blown the community wide open for anybody to get involved in, myself included. Looking back as well these past months, thinking back from what /Dogecoin was like when I joined, we have changed so much, but for the better. When you look at the top 10 coins, Dogecoin is now 7 months old, and has earned a permanent position on that list. Despite the decline from a speculative bubble, we have held strong with a huge $20m market cap, which, if you told me in December i wouldn't believe. Back then everyone was talking about if we would hit $5m cap, because LEL DOGE ON A COIN TO THE MOON. It seemed completely ridiculous that Dogecoin was taking off, and I don't think anyone truly believed in it longterm at that point. But then something happened. You guys happened. You came here in droves, and you built a huge thriving community which rivaled anything ever seen in Cryptocurrency before. Together we built the foundation for this coin to still be here, to still be so strong, and still be a contender as a top Cryptocurrency seven months down the line. How many other seven month old Cryptocoins still have a community of this size, and a market cap of $20m USD? What happened to the flood of copycat meme coins of January and February? We are not the new kids in town any more, we have rooted ourselves firmly into the altcoin scene, and we are here to stay for a long long time. Community? A lot of trolls bemoan how the community is not as active, and smaller than it once was. While this is somewhat true, I have a few counter pointers to this:
Quality not quantity of members. When we experienced our huge speculative bubble, a lot of new community members were here to make a quick buck. We needed to lose these people, as they were bad for the coin, quick to dump and get out for profit, and not in it for the longterm. It's not about weak or strong hands, its about good hands and bad hands. Dogecoins price has stabilized because, we as a community, have bought up the coins from short term traders, and they are falling in the hands of long term investors. Coins have moved from the bad hands of daytraders, to the stronger hands of the community, and investors with a longer term outlook. Our coin is trashed talked on exchange trollboxes, and this is good, because it means less traders hold our coin, and more longterm investors are looking after it.
We haven't lost subscribers, people just seem to be less active. I imagine a great many of our inactive subscribers still hold some Dogecoin, or are even sitting on the sidelines with some Bitcoin from when they cashed out, ready to buy back in. They are waiting to see what we do next, what happens in the next part of the story. And as we continue to grow stronger, a lot of them will start taking an interest again, especially if we can maintain a price level which is no longer in free-fall from the speculative bubble.
Despite people being less active, we still have the most active altcoin community (barring Bitcoin of course). Look at any other altcoin, and you will see that only really Bitcoin, Litecoin and Dogecoin, and to a lesser extent Darkcoin, have large and thriving communities. The subreddit of pretty much any other coin is a complete ghost town. Indeed many of the newer hypecoin's community consists of having a long Bitcointalk thread, and nothing else. Is a long forum thread on a message board with thousands of altcoins really a community?
Community is what makes a coin, and we have that. What point is a currency if no-one is there to use it, just speculative investors pumping and dumping? Dogecoin seems to be up there with Bitcoin and Litecoin as the 3 major accepted Crypto currencies accepted by retailers. And that is because these 3 coins have normal people using them, and spending them. Pretty much every other Crypto is 100% speculative at this stage, but Dogecoin is already going further than most to build usage, economy and community. We had our speculative bubble, and like every other coin it came crashing down, but unlike almost any other coin, we are all still here, supporting this huge $20m USD market cap coin. Look at any other new coin that had a crash like ours; the community has simply vanished. Value? I also briefly touched above on coins moving from bad hands to good hands, and this is really great news. We have mined almost 88 billion coins by this point, a huge number, and a lot of these coins are moving into better hands, long term investors, and members of the community. But, it will take 17 years before we mine another 88 billion coins. We have mined such a large amount of coins in such a short amount of time, that a lower price was needed to move those coins into long term hands, such as you and me. This is where Dogecoin will get it's value from. True believers, long term investors and community members are now holding on to a large majority of all the coin which will exist for years to come. And this time time, we won't give it over as easily to daytraders, short term investors and the like, because the people still holding are in this long term. The bad hands will have to fight over a lot less coins, as we hold all of our stockpiles as investments, tip them out to new users, and start building our own usage economy. Maybe one day we can cash out a little for profit, but we will have worked hard to build what we have. We are not get rich quick scammers, we are doing it the old fashioned way, it's slow, and it's hard work, but we know the results will be much more rewarding. At current prices, we create 35btc worth of new coins everyday, most of which are mined by multipools, and dumped straight to exchanges. 35btc every day might sound like a lot to you, but consider the following statistics. Given current pricing, here is the amount of new coins being produced daily by the 2 big players as things stand: Bitcoin: 3600btc (100x Dogecoin) Litecoin: 390btc (11x Dogecoin) So at Dogecoin's current price level, we are producing very little new value everyday compared to the other big players. And these big players will be producing an enormous volume of coins everyday for years to come, whereas if we still are at a 40sat price level in January, after block 600,000, we will be producing just 14.4m Dogecoins a day, just 5.6btc, 643x less than Bitcoin. Litecoin doesn't halve until August 2015, and Bitcoin late 2016, and even then, they will still be flooding the market with huge numbers of coins for decades to come. This is where Dogecoin is different; the flood of coins for us is coming to an end, and is already largely over. The community has proven staying power. Given these factors, do you really think Dogecoin will only be worth 40sats in January, as it becomes harder and harder for the market to get it's hands on coins? As I mentioned in my last post, the great thing about the speculative crash, is that it's a great time for everyone to jump back on board, to buy a worthwhile number of coins at excellent value. You will be buying outside of a speculative bubble right now, at a fair market evaluation which has not been overly inflated by pumpers and speculators. There will still be short term ups and downs, but the long term outlook has never looked brighter. We have grown as a community, fought back the great summer dramas of 2014, and are stronger than ever before. There never has been a better time to jump into Dogecoin. Maybe one day you will be writing a 1653 word essay on Dogecoin too. Which brings me to the end of mine. Thanks if you stuck with me all the way to the end, and I hope that it inspired you today, to truly look at what an amazing thing this community has done together. https://www.youtube.com/watch?v=tdjh_evylJA It's 8:28AM EST and we've found 87.89% of our initial 100 Billion DOGEs -- only 12.11% remains until our period of Hyper-inflation ends! Our Global Hashrate is up from ~46 to ~48 Gigahashes per second and our Difficulty is down from ~708 to ~616. I Hope you enjoyed today's Guest Post by Sku! Note: To tip them directly: +dogetipbot @Sku xxx doge verify GoodShibe
Of Wolves And Weasels - Day 192 - Guest Post: The Spirit Of Giving
Hey all! GoodShibe... on Vacation (sort of)! Please enjoy this post by Guest Writer lepaperbag and tip them well ;D) Note: To tip them directly: +dogetipbot @lepaperbag xxx doge verify The internet could be compared to a desert. It's vast. REALLY vast, and crawling through it can sometimes be really depressing and tiring. However, every so often, you will find an oasis. Sometimes, these oases just appear as a mirage, and instead just make up yet another part of the desert. This dogecoin community however, is not just an oasis; it's a darn tropical paradise. Let me ask you this question: What is a random act of doge? How would you describe it? For me, a random act of doge is an act of kindness, goodwill and charity. It is my pleasure to say that I see this every day, here in /dogecoin, from people all over the planet. How cool is that!? Shibes from all over the world, donating to charities and each other, for the most awesome (and on occasion the silliest) causes. That is something to be hugely proud of. I find myself more than ever, donating to charity collectors outside my local shop. In the past, I never gave them a second glance. Thanks to dogecoin however, I see donating in a whole different light. I would hope you see it in that way too, for believe it or not, we have a great influence on how people see the spirit of giving. Sure, while my dogecoin tip of 100 doge may be insignificant in monetary value, I am still filled with that sense of pride that I have donated something to another. It is infectious. It is glorious. Just take a look over at bitcoin, more and more we see them donating and sponsoring events. Perhaps we have inspired them? Perhaps, we have set an awesome standard for others to follow. That, my fellow shibes, it what has made us such a great community. Yes, boosting the coin and businesses that accept it are hugely important too, but our goodwill and kind spirits have helped uplift us in times of chaos, and most importantly, helped others as well. Of course, our rocket needs fuel, but there are other rockets out there which need that extra helping hand to get them off the ground, and we can provide. Look back at all the good we have done for others, we have provided a better way of life, schooling, shelter, water, and so much more. WE did that. Sure, some of us may have donated tiny amounts compared to others, but we ALL donated. From all over the world we can hold our heads high, and say: I was a part of that. I made someone else’s life that more meaningful. So as we continue ever onwards to our goal of the moon, never lose this attitude /dogecoin. For by continuing our endeavours to help others, we not only help the image of dogecoin, we help ourselves. Visit this subreddit and smile, knowing that you are doing your part. Feel GOOD, as sometimes others just need that little bit of kindness to brighten their day, and it could be you who provides it. Whether we are valued at 1 satoshi or 1000, an act of charity, will always be an act of charity. 1 random act of doge, will always equal 1 random act of doge. This is where we stand, looking up towards the moon. We will make it, one way or another, hand in hand, paw in paw. Be it in a year, or one hundred years, we will look back at what we have done here and beam from ear to ear. I know I am, and always will. So keep smiling, and maintain that wonderful spirit of giving /dogecoin, we all know too well the world needs it. It's 9:00AM EST and we've found 87.73% of our initial 100 Billion DOGEs -- only 12.27% remains until our period of Hyper-inflation ends! Our Global Hashrate is down from ~45 to ~52 Gigahashes per second and our Difficulty is up from ~600 to ~790. I Hope you enjoyed today's Guest Post by lepaperbag! Note: To tip them directly: +dogetipbot @lepaperbag xxx doge verify GoodShibe PS:
There's a cool coin design competition going on right now over here - please take a moment to pop by and vote for your favorite!
Also, conjunctionjunction1 is looking for some help trying to put together a Doge-themed prize-pack for a Cat Rescue silent auction/ wine tasting event. Can you please pop by and offer some advice on what they should include?
Plato's Bitcoin Explanation for the Uninitiated (xposted from a comment in /r/enhancement)
Basically, Bitcoins are created out of thin air, just like dollars. The only difference is that the US govt says "we proclaim dollars to be valuable" and people believe them, while a million people say "we proclaim bitcoins to be valuable" and believe themselves. Governments used to say "We promise to give you x grams of gold for each dollar" but they don't do this anymore... you have to buy your gold on an open market. If people decide they no longer like Bitcoins and won't use them, they'd become worthless - just like, if people decide they no longer like dollars and won't use them, they'd also become worthless. TL;DR:Bitcoin manages to simultaneously a) be secure, b) not have any central authority, c) define a fixed money supply, d) allow financial privacy. This is unlike any other currency and this is why people like Bitcoin. Jan 2009, Satoshi Nakamoto releases code for the Bitcoin client and mines the first ever "block," generating the first 50 bitcoins for himself. (He has never spent these, but other people have sent him some small tips.) A "block" is part of the Bitcoin system that keeps it ticking. There are currently 164275 blocks chained together, one after the other, all the way back to that genesis block. They make a "blockchain," which I think of like an accounting ledger written in permanent ink. Every 10 minutes or so a new block is mined  and a new page is written in the ledger by the miner, containing the past 10 minutes of transaction history for the Bitcoin network. The first line on the new page is special because it creates Bitcoins out of nowhere and gives them to the miner. All other transactions on the page have to have valid source and sink addresses (i.e. they have to be already-existing bitcoins moving from one address to another.)  So, mining is how new Bitcoins are generated. Miners currently get a reward of 50 bitcoins per block. In about a year, the reward will be halved, and miners will receive rewards of 25 bitcoins per block. This halving continues every four years, until a total pool of 21 million bitcoins has been distributed to miners. (graph of this.) After 164,275 blocks to date, 8,213,750 bitcoins have been created, or a bit more than one-third of the Bitcoin pie. So, what stops miners from writing fake pages in the ledger and redirecting all the transactions to their own address, or giving themselves 1000 bitcoins instead of 50? Nothing really, they can publish fake blocks if they want. edit!Strikethrough below was misleading. Thanks Fraggle for helping fix it! If a miner tampers with a block, all honest clients (both miners and users) will notice this when they receive the block. This happens because clients independently verify the contents of the block . They will ignore tampered blockss and wait until an honest miner finds a block. He will repair the damage by posting a new honest block which follows the most recent honest block. If lots of miners do decide to collaborate and cheat they can do some damage, but not create bitcoins as I implied below. See my comment for more. /edit They will refuse to chain new blocks onto the bad block; instead they'll go back to the most recent legitimate block and "split the blockchain" by creating a competing daughter block. The next time a block is mined, the miner must choose which chain to follow. Bitcoin assumes that a majority share of the miners are not collaborating to cheat. If they were, they could successfully extend a fake blockchain. Otherwise, honest miners will extend the honest blockchain. Clients treat the longest blockchain as legitimate, so they will disallow transactions that only appear in a shorter (presumed fraudulent) one. So the upshot is that we have a decentralized, pubically auditable accounting ledger containing all the Bitcoin transactions, using cryptography to prove who is authorized to spend what bitcoins.  Bitcoin 'mining' is a lottery of sorts. Many people are competing to solve a specific cryptographic puzzle. You can check out how many people are involved at bitcoin.sipa.be and you can read details here. As of 01.28.12 the network is operating at about 10,000 gigahash/second, or 10,000,000,000,000 "entries" into the lottery per second. There are 600 seconds in 10 minutes, so the current "odds" are 1/6,000,000,000,000,000 or one in six quadrillion per hash attempt. Most miners use GPU's. An average ATI 5000 series GPU can attempt 300 million hashes per second. The network self-adjusts to ensure that one block arrives every 10 minutes, regardless of how big the network is.  You can take a look at a recent block as an example. Note that the first transaction has no address in the From: column. If you click one of the listed addresses in the other transactions, you can explore the history of each of the addresses. If you follow it back far enough you will always find that the bitcoins appeared as one of these special "generation" transactions (aka mining rewards.)  This works because we have the entire transaction history available, and because transactions use cryptography to prove legitimacy. Your "Bitcoin Address" is the public half of a cryptographic keypair. The private half is stored in your wallet file. When Alice "sends a bitcoin", to Bob, what she is doing is taking Bob's public key and signing it with her private key, then sending that signed data to the whole network and waiting for a miner to include it in a block. Both miners and regular clients can "verify" that a transaction is valid with some cryptography magic. Basically they can compare Alice's public key with the signed transaction. If Alice didn't actually sign it, the verification fails and the transaction is invalidated. You can can go back and see where Alice got the bitcoins from, and check if that transaction verifies, and so on until they reach the original source of the coins (i.e. bitcoins generated from a mined block, see ) If everything checks out, the network agrees that Alice has given up her right to spend these Bitcoins, and now Bob has the right to spend them. If the signature doesn't check out, honest miners won't include the transaction in a block and clients refuse to retransmit the bad transaction to others. If a dishonest miner does include it, honest miners will disavow that block and create an alternative blockchain, invalidating all the transactions that appear in that block (and any subsequent ones.)
Did I forget anything? Of course I did! Let me know in the comments and I'll add it! It's 7:48AM EST and our Global Hashrate is on the rise from ~639 to ~753 gigahashes per second. Our Difficulty, however, has fallen off a cliff from ~12007 to ~7048. As always, I appreciate your support! GoodShibe PS: still an open call for oWaW guest writers! 2 spots left!
So you're sick of just mining on your GPU, and not a fan of the electric bill after a month of mining? There has to be a better option out there than your loud GPU in your gaming computer. There is! Shortly after GPUs became popular for bitcoin mining, enterprising folks started looking at other things they can re-purpose to mine bitcoins more efficiently. Around mid-year 2011, the first devices sprang up that are called FPGAs or Field Programmable Gate Arrays. These are nothing new to the hobbyist community, they've been around for a while for crackers and other security-conscious folks looking at ways to defeat cryptographic locks. Hey! I know something that uses cryptographic calculations to secure its network! BITCOINS! Yep, so some miners developed their own boards and slapped some FPGA chips on them (most commonly the Spartan-6), and wrote specific firmware and "bitstreams" to more efficiently calculate bitcoin hashes. The first generations were sort of slow, but still they had better efficiency than a GPU. Some of the latest generation included the Icarus boards, Cairnsmore, x6500, and ModMiner Quad. In early 2012(i think my timeline is right), Butterfly Labs(BFL) was selling their own FPGA miner that hashed at 800 Mhash/s using 80 watts and only cost US$600 amazing! These grew very popular, but people could see that FPGAs still weren't the most efficient way to hash their shares. BFL then announced that they would be designing their own chips that would be orders of magnitude faster than anything ever seen. These would be the ASICs (or Application Specific Integrated Circuit)everyone is raving about. ASICs are--as the name implies--specifically designed for one thing, and one thing only. Bitcoins. This is all it can do, and can't really be repurposed like an FPGA to other applications. Who wouldn't want a US$150 "Jalapeno" that hashes at 3.5 GIGAhashes/s using only power from a USB port?? Crazy! So summer 2012, BFL says they will ship before Christmas. Various things happen and we now still don't have any confirmed ship dates from BFL. A few other companies have sprouted up, ASICminer which I believe is developing their own chips to mine themselves, but in a responsible way as to not threaten the network with a sudden influx of hashing. bASIC was a fiasco that was developed by the creator of the ModMiner Quad(which is actually a fantastic miner, I own one, and love it.) where he took many preorders, promised lots of people amazing ASIC performance, but in early 2013 the stress of the whole endeavour got to him and he gave up, refunded money(I think it's still being refunded now, or maybe it's been cleared up already.) Avalon is the only company we know has ASIC mining hardware in the wild. It is not certain exactly how many are out there, but they have been confirmed by independent sources. The Avalon units are expensive(75 BTC) and have been in limited production runs (or batches) of a few hundred units that were pre-sold out very quickly. All of this info is gleaned from the Custom Hardware forum over at bitcointalk.org over the past year or so I've been involved in bitcoin. I may have some facts wrong, but this is the gist of the situation and hopefully gives you an insight on the state of the hardware war against bitcoin Thanks for reading!
Did I miss something? Of course I did! Please let me know in the comments and I'll add it in! It's 8:02AM EST and we've found 98.46% of our first 100 Billion DOGEs! Our Global Hashrate is down from ~1080 to ~1070 Gigahashes per second and our Difficulty is down from ~20702 to ~16762. As always, I appreciate your support! GoodShibe
Did I miss anything? Do you have a Dogecoin community you want featured? Let me know! All of these places are seeds. Their potential is infinite. You do not have to ‘Leave’ Reddit in order to help build up these other communities. But take part in them. Take part in one of them. Make it your own. Each of these different communities offer Shibes different options, different speeds, different conversations. What will you do there? What will you build there? It’s 9:22AM EST and Sunday is FunDay, right? Right?. Our Global Hashrate is up from ~1110 to ~1100 Gigahashes per second and our Difficulty is down from ~32380 to ~31336. As always, I appreciate your support! GoodShibe
Did I miss anything? Do you have a Dogecoin community you want featured? Let me know! All of these places are seeds. Their potential is infinite. You do not have to ‘Leave’ Reddit in order to help build up these other communities. But take part in them. Take part in one of them. Make it your own. Each of these different communities offer Shibes different options, different speeds, different conversations. What will you do there? What will you build there? It’s 8:16AM EST and Sunday is FunDay, right? Right?. Our Global Hashrate is holding at ~1130 Gigahashes per second and our Difficulty is up from ~11130 ~11925. As always, I appreciate your support! GoodShibe
Did I miss anything? Do you have a Dogecoin community you want featured? Let me know! All of these places are seeds. Their potential is infinite. You do not have to ‘Leave’ Reddit in order to help build up these other communities. But take part in them. Take part in one of them. Make it your own. Each of these different communities offer Shibes different options, different speeds, different conversations. What will you do there? What will you build there? It’s 8:31AM EST and Sunday is FunDay, right? Right?. Our Global Hashrate is holding at ~1170 Gigahashes per second and our Difficulty is down from ~18835 to ~16867. As always, I appreciate your support! GoodShibe
For example the current network hashrate of Bitcoin is 140 EH/s (Exa hashes per second). To convert this value in to TeraHash or PetaHash or GigaHash you can use this tool. So why convert? For instance lets say you have an ASIC miner which is capable of delivering 14 TH/s. You can use the above tool to convert and compare your hash power with the overall network hashrate. Higher the hashrate ... Accurate Bitcoin mining calculator trusted by millions of cryptocurrency miners since May 2013 - developed by an OG Bitcoin miner looking to maximize on mining profits and calculate ROI for new ASIC miners. Updated in 2020, the newest version of the Bitcoin mining calculator makes it simple and easy to quickly calculate mining profitability for your Bitcoin mining hardware. Die aktuelle Hashrate des kompletten Bitcoin-Netzwerkes liegt bei ca. 3,1 Exahashes/s (3.100.000.000.000.000 Hashes pro Sekunde). Multipliziert man diese Zahl mit 600 Sekunden (= 10 Minuten für einen neuen Block), so erhält man 1.860.000.000.000.000.000 Hashes. Dies ist die Anzahl an Hashes, die durchschnittlich berechnet werden müssen, um ... Die „600 GH Bitcoin Mining Card“ für 4680 US-Dollar wird bereits angeboten – zur Vorbestellung. Die Chips der neuen Miner sollen mit 28 Nanometern Strukturbreite gefertigt werden und ... Bitcoin-Mining ist ein Geschäft mit einer sehr grossen Konkurrenz. Mining macht nur Sinn, wenn Sie es aus Spass machen und es Ihnen nicht so wichtig ist, ob Sie Profit daraus schlagen. Es ist aber auch möglich, dass Sie es sehr effektiv betreiben und davon profitieren. Aktuelle Bitcoin Nachrichten. Wenn Sie Bitcoins basierend auf einer bestimmten Hashrate erhalten möchten, sollten Sie sich ...
For more info concerning Bitcoin wallet card, litecoin wallet card, kindly visit website right here: http://www.cryptocoinwalletcards.com/ Tags: asic bitcoin... Estimate: $5 per day per machine, assuming 1 Bitcoin is about $600. $50/day for 10 machines. $500/day for 100 machines. Each miner costs $500 +$50 power supply and can pay for itself in about 110 ... 🔴 BITCOIN LIVE 🔴 Money Printer Still BRRR'ing. Ep.1005. Crypto Technical Analysis Mitch Ray 1,298 watching Live now http://moneyandtech.com/may-30-news-update/ The price of bitcoin surpassed $600 this morning, for the first time in three months, rising over 7 percent in th... For more info regarding bitcoin paper wallet, please visit web site below: http://www.cryptocoinwalletcards.com/ Tags: asic bitcoin miner, asic bitcoin miner...