ASICMINER Block Erupter 336MH/s - ASIC USB Bitcoin: Amazon ...
Amazon.com: usb bitcoin miner
Amazon.it: bitcoin miner
I literally have tens of thousands of dollars in top-shelf hardware, looking to repurpose some before selling on eBay to build a NAS system, possibly a dedicated firewall device as well. o_O
Q1) What will you be doing with this PC? Be as specific as possible, and include specific games or programs you will be using.** A1) This will be a dedicated NAS system for my home network. As such, I'm looking to have it: - Host ##TB's of 720, 1080 & up resolution Movies and TV Shows I'm about to begin ripping from a MASSIVE DVD & Blueray collection I have. - My kids are big on Minecraft. I understand it's possible to host your own "worlds" (or whatever they call the maps you can build) on your own "server". I think it would be pretty neat to offer them (& their friends - if can be done 'safely/securely') their own partition on one of my NAS HDD's. - I also have accounts with a couple diff VPN companies... I understand it's possible (?) to sync said VPN's with a NAS, this might be a more relative topic on the next point/purpose... - I'd like to be able to remotely link to this NAS for when I travel overseas and want to stream at my temp location from my house/this NAS. ______________________ Q2) What is your maximum budget before rebates/shipping/taxes?** * A2) Here's where I make matters more complicated than most others would... I've been an advocate for Bitcoin and crypto-currencies in general since 2013. I invested in a small mining outfit back in 2014 (strictly Bitcoin/ASIC's). One of my buddies is the President of a large-scale mining operation (foreign and domestic) and he convinced me to dabble in the GPU mining-space. I made my first hardware purchase in Q4, 2017 and launched a small-scale GPU-Farm in my house since then. I had the rigs mining up until Q3 of 2018 (not cost-efficient to keep on, especially living in SoFlo) and since then, the hardware's been collecting dust (& pissing off my family members since they lost access to 3X rooms in the house - I won't let anyone go near my gear). One of my New Years Resolutions for 2019 was to clear out the house of all my mining equipment so that's all about to go up on eBay. So "budget" is relative to whatever I "MUST" spend if I can't repurpose any of the parts I already have on hand for this build... (Anyone having something I "need" and is looking to barter for one of the items I'll list later on in here, LMK). ______________________ Q3) When do you plan on building/buying the PC? Note: beyond a week or two from today means any build you receive will be out of date when you want to buy.** A3) IMMEDIATELY! :) ______________________ Q4) What, exactly, do you need included in the budget? (ToweOS/monitokeyboard/mouse/etc\)** A4) Well I had a half-assed idea approximately 1 year ago that it might be wise to build a bunch of 'gaming rigs' to sell on eBay with my intended repurposed mining hardware so I went on a shopping spree for like 6 months. That said; I've got a plethora of various other components that aren't even unboxed yet. 90% of the items I've purchased for this additional project were items that were marked down via MIR (mail-in-rebates) & what-not...
AFAIK, there are only 3X items I absolutely do not have which I 'MUST' find. Those would be - 1) Motherboard which accepts "ECC RAM". 2) CPU for said MOBO. 3) Said "ECC RAM".\*
______________________ Q5) Which country (and state/province) will you be purchasing the parts in? If you're in US, do you have access to a Microcenter location?** A5) I'm located in Southwest Florida. No Microcenter's here. Best Buy is pretty much my only option although I am a member of Newegg, Amazon & Costco if that makes any difference? ______________________ Q6) If reusing any parts (including monitor(s)/keyboard/mouse/etc), what parts will you be reusing? Brands and models are appreciated.** A6) In an attempt to better clean up this Q&A, I'm going to list the items I have on-hand at the end of this questionnaire in-case passers-by feel like this might be a TLDR.* (Scroll to the bottom & you'll see what I mean). ______________________ Q7) Will you be overclocking? If yes, are you interested in overclocking right away, or down the line? CPU and/or GPU?** A7) I don't think that's necessary for my intended purpose although - I'm not against it if that helps & FWIW, I'm pretty skilled @ this task already (it's not rocket science). ______________________ Q8) Are there any specific features or items you want/need in the build? (ex: SSD, large amount of storage or a RAID setup, CUDA or OpenCL support, etc)** A8) As stated in A4; ECC RAM is non-negotiable... RAID seems like a logical application here as well. - This will predominantly be receiving commands from MacOS computers. I don't think that matters really but figured it couldn't hurt to let you guys know.\* - I'd also be quite fond of implementing "PFSENSE" (or something of that caliber) applied to this system so I could give my Netgear Nighthawks less stress in that arena, plus my limited understanding of PFSENSE is that it's ability to act as a firewall runs circles around anything that comes with consumer-grade Wi-Fi routers (like my Nighthawks). Just the same, I'm open to building a second rig just for the firewall.\* - Another desirable feature would be that it draws as little electricity from the wall as possible. (I'm EXTREMELY skilled in this arena. I have "Kill-A-Watts" to test/gauge on, as well as an intimate understanding of the differences between Silver, Gold, Platinum and Titanium rated PSU's. As well as having already measured each of the PSU's I have on-hand and taken note of the 'target TDP draw' ("Peak Power Efficiency Draw") each one offers when primed with X amount of GPU's when I used them for their original purpose.\* - Last, but not least, sound (as in noise created from the rig). I'd like to prop this device up on my entertainment center in the living room. I've (almost) all of the top-shelf consumer grade products one could dream of regarding fans and other thermal-related artifacts. - Almost forgot; this will be hosting to devices on the KODI platform (unless you guys have better alternative suggestions?) ______________________ Q9) Do you have any specific case preferences (Size like ITX/microATX/mid-towefull-tower, styles, colors, window or not, LED lighting, etc), or a particular color theme preference for the components?** A9) Definitely! Desired theme would be WHITE. If that doesn't work for whatever reason, black or gray would suffice. Regarding "Case Size". Nah, that's not too important although I don't foresee a mini-ITX build making sense if I'm going to be cramming double digit amounts of TB in the system, Internal HDD's sounds better than a bunch of externals plugged in all the USB ports. ______________________ Q10) Do you need a copy of Windows included in the budget? If you do need one included, do you have a preference?** A10) I don't know. If I do need a copy of Windows, I don't have one so that's something I'll have to consider I guess. I doubt that's a necessity though. ______________________ ______________________ ______________________ **Extra info or particulars:*\* AND NOW TO THE FUN-STUFF... Here's a list of everything (PARTS PARTS PARTS) I have on-hand and ready to deploy into the wild &/or negotiate a trade/barter with: CASES - Corsair Carbide Series Air 540 Arctic White (Model# Crypto-Currency-9011048-WW) - (Probably my top pick for this build). Cooler Master HAF XB EVO (This is probably my top 1st or 2nd pick for this build, the thing is a monster!). Cooler Master Elite 130 - Mini ITX - Black Cooler Master MasterBox 5 MID-Tower - Black & White Raidmax Sigma-TWS - ATX - White MasterBox Lite 5 - ATX - Black w/ diff. Colored accent attachments (included with purchase) NZXT S340 Elite Matte White Steel/Tempered Glass Edition EVGA DG-76 Alpine White - Mid Tower w/ window EVGA DG-73 Black - Mid Tower w/ window (I have like 3 of these) ______________________ CPU's - ***7TH GEN OR BELOW INTEL's ("Code Name Class mentioned next to each one)**\* Pentium G4400 (Skylake @54W TDP) - Intel ARK states is "ECC CAPABLE" Celeron G3930 (Kaby Lake @ 51W TDP) - Intel ARK states is "ECC CAPABLE" :) i5 6402P (Skylake @65W TDP) - Intel ARK states is "NOT ECC CAPABLE" :( i5 6600k (Skylake @ 91W TDP) - Intel ARK states is "NOT ECC CAPABLE" :( i7 6700 (Skylake @ 65W TDP) - Intel ARK states is "NOT ECC CAPABLE" :( i7 7700k (Kaby Lake @ 95W TDP) - Intel ARK states is "NOT ECC CAPABLE" :( ***8TH GEN INTEL's **\* i3-8350K (Coffee Lake @91W TDP) - Intel ARK states is "ECC FRIENDLY" :) I5-8600K (Coffee Lake @95W TDP) - Intel ARK states is "NOT ECC CAPABLE" :( ***AMD RYZEN's **\* Ryzen 3 2200G Ryzen 5 1600 Ryzen 7 1700X ______________________ MOTHERBOARDS - ***7TH GEN AND BELOW INTEL BASED MOBO'S - **\* MSI Z170A-SLI ASUS PRIME Z270-A ASUS PRIME Z270-P ASUS PRIME Z270-K EVGA Z270 Stinger GIGABYTE GA-Z270XP-SLI MSI B150M ARCTIC MSI B250M MICRO ATX (PRO OPT. BOOST EDITION) ***8TH GEN INTEL BASED MOBO'S - **\* EVGA Z370 FTW GIGABYTE Z370XP SLI (Rev. 1.0) MSI Z370 SLI PLUS ***AMD RYZEN BASED MOBO'S - **\* ASUS ROG STRIX B350-F GAMING MSI B350 TOMAHAWK MSI X370 GAMING PRO ASROCK AB350M PRO4 ______________________ RAM - Way too many to list, nothing but 4 & 8GB DDR4 sticks and unfortunately, none are ECC so it's not even worth mentioning/listing these unless someone reading this is willing to barter. At which time I'd be obliged to send an itemized list or see if I have what they're/you're specifically looking for.\* ______________________ THERMAL APPLICATIONS/FANS - JUST FANS - BeQuiet - Pure Wings 2 (80mm) Pure Wings 2 (120mm) Pure Wings 2 (140mm) Silent Wings 3 PWM (120mm) NOCTUA - PoopBrown - NF-A20 PWM (200mm) Specifically for the BIG "CoolerMaster HAF XB EVO" Case GREY - NF-P12 Redux - 1700RPM (120mm) PWM Corsair - Air Series AF120LED (120mm) CPU COOLING SYSTEMS - NOCTUA - NT-HH 1.4ml Thermal Compound NH-D15 6 Heatpipe system (this thing is the tits) EVGA (Extremely crappy coding in the software here, I'm like 99.99% these will be problematic if I were to try and use in any OS outside of Windows, because they barely ever work in the intended Windows as it is). CLC 240 (240mm Water-cooled system CRYORIG - Cryorig C7 Cu (Low-Profile Copper Edition*) A few other oversized CPU cooling systems I forget off the top of my head but a CPU cooler is a CPU cooler after comparing to the previous 3 models I mentioned. I almost exclusively am using these amazing "Innovation Cooling Graphite Thermal Pads" as an alternative to thermal paste for my CPU's. They're not cheap but they literally last forever. NZXT - Sentry Mesh Fan Controller ______________________ POWER SUPPLIES (PSU's) - BeQuiet 550W Straight Power 11 (GOLD) EVGA - 750P2 (750W, Platinum) 850P2 (850W, Platinum) 750T2 (750W, TITANIUM - yeah baby, yeah) ROSEWILL - Quark 750W Platinum Quark 650W Platinum SEASONIC - Focus 750W Platinum ______________________ STORAGE - HGST Ultrastar 3TB - 64mb Cache - 7200RPM Sata III (3.5) 4X Samsung 860 EVO 500GB SSD's 2X Team Group L5 LITE 3D 2.5" SSD's 480GB 2X WD 10TB Essential EXT (I'm cool with shucking) + 6X various other external HDD's (from 4-8TB) - (Seagate, WD & G-Drives) ______________________ Other accessories worth mentioning - PCI-E to 4X USB hub-adapter (I have a dozen or so of these - might not be sufficient enough &/or needed but again, 'worth mentioning' in case I somehow ever run out of SATA & USB ports and have extra external USB HDD's. Although, I'm sure there would be better suited components if I get to that point that probably won't cost all that much). ______________________ ______________________ ______________________ Needless to say, I have at least 1X of everything mentioned above. In most all cases, I have multiples of these items but obviously won't be needing 2X CPU's, Cases, etc... Naturally, I have GPU's. Specifically; At least 1X of every. Single. NVIDIA GTX 1070 TI (Yes, I have every variation of the 1070 ti made by MSI, EVGA and Zotac. The only brand I don't have is the Gigabyte line. My partners have terrible experience with those so I didn't even bother. I'm clearly not going to be needing a GPU for this build but again, I'm cool with discussing the idea of a barter if anyone reading this is in the market for one. I also have some GTX 1080 TI's but those are already spoken for, sorry. It's my understanding that select CPU's I have on this list are ECC Friendly and AFAIK, only 1 of my MOBO's claims to be ECC Friendly (The ASROCK AB350M PRO4), but for the life of me, I can't find any corresponding forums that confirm this and/or direct me to a listing where I can buy compatible RAM. Just the same, if I go w/ the ASROCK MOBO, that means I'd be using one of the Ryzens. Those are DEF. power hungry little buggers. Not a deal-breaker, just hoping to find something a little more conservative in terms of TDP. In closing, I don't really need someone to hold my hand with the build part as much as figuring out which motherboard, CPU and RAM to get. Then I'm DEFINITELY going to need some guidance on what OS is best for my desired purpose. If building 2X Rigs makes sense, I'm totally open to that as well... Rig 1 = EPIC NAS SYSTEM Rig 2 = EPIC PFSENSE (or the like) DEDICATED FIREWALL Oh, I almost forgot... The current routers I'm using are... 1X Netgear Nighthawk 6900P (Modem + Router) 1X Netgear Nighthawk X6S (AC 4000 I believe - Router dedicated towards my personal devices - no IoT &/or Guests allowed on this one) 1X TP-Link Archer C5 (Router). Total overkill after implementing the Nighthawks but this old beast somehow has the best range, plus it has 2X USB ports so for now, it's dedicated towards my IoT devices. ---- I also have a few other Wi-Fi routers (Apple Airport Extreme & some inferior Netgear's but I can only allocate so many WiFi Routers to so many WiFi channels w/out pissing off my neighbors) On that note, I have managed to convince my neighbors to let me in their house/WiFi configuration so we all have our hardware locked on specific, non-competing frequencies/channels so everyone's happy. :) Please spare me the insults as I insulted myself throughout this entire venture. Part of why I did this was because when I was a kid, I used to fantasize about building a 'DREAM PC' but could never afford such. To compensate for this deficiency, I would actually print out the latest and greatest hardware components on a word document, print the lists up & tape to wall (for motivation). I was C++ certified at the age of 14 and built my first PC when I was 7. At the age of 15 I abandoned all hope in the sector and moved on to other aspirations. This entire ordeal was largely based off me finally fulfilling a childhood fantasy. On that note = mission accomplished. Now if I'm actually able to fulfill my desires on this post, I'm definitely going to feel less shitty about blowing so much money on all this stuff over the last couple years. TIA for assisting in any way possible. Gotta love the internets! THE END. :) EDIT/UPDATE (5 hours after OP) - My inbox is being inundated with various people asking for prices and other reasonable questions about my hardware being up for sale. Not to be redundant but rather to expound on my previous remarks about 'being interested in a bartetrade' with any of you here... I did say I was going to sell my gear on eBay in the near future, I also said I wanted to trade/barter for anything relative to helping me accomplish my OP's mission(s). I'm not desperate for the $$$ but I'm also not one of those people that likes to rip other people off. That said; I value my time and money invested in this hardware and I'm only willing to unload it all once I've established I have ZERO need for any of it here in my home first. Hence my writing this lengthy thread in an attempt to repurpose at least a grand or two I've already spent. One of the most commonly asked questions I anticipate receiving from interested bodies is going to be "How hard were you on your hardware?" Contrary to what anyone else would have probably done in my scenario which is say they were light on it whether they were or weren't, I documented my handling of the hardware, and have no problem sharing such documentation with verified, interested buyers (WHEN THE TIME COMES) to offer you guys peace of mind. I have photo's and video's of the venture from A-Z. I am also obliged to provide (redacted) electricity bill statements where you can correlate my photo's (power draw on each rig), and also accurately deduct the excess power my house consumed with our other household appliances. Even taking into consideration how much (more) I spent in electricity from keeping my house at a constant, cool 70-72F year-round (via my Nest thermostat). Even without the rigs, I keep my AC @ 70 when I'm home and for the last 1.5-2 years, I just so happened to spend 85% of my time here at my house. When I would travel, I'd keep it at 72 for my wife & kids. Additionally; I had each GPU 'custom' oveunderclocke'd (MSI Afterburner for all GPU's but the EVGA's).* I doubt everyone reading this is aware so this is for those that don't.... EVGA had the brilliant idea of implementing what they call "ICX technology" in their latest NVIDIA GTX GPU's. The short(est) explanation of this "feature" goes as follows: EVGA GPU's w/ "ICX 9 & above" have EXTRA HEAT/THERMAL SENSORS. Unlike every other GTX 1070 ti on the market, the one's with this feature actually have each of 2/2 on-board fans connected to individual thermal sensors. Which means - if you were to use the MSI Afterburner program on one of these EVGA's and create a custom fan curve for it, you'd only be able to get 1/2 of the fans to function the way intended. The other fan simply would not engage as the MSI Afterburner software wasn't designed/coded to recognize/ communicate with an added sensor (let alone sensor'S). This, in-turn, would likely result in whoever's using it the unintended way having a GPU defect on them within the first few months I'd imagine... Perhaps if they had the TDP power settings dumbed down as much as I did (60-63%), they might get a year or two out of it since it wouldn't run as near as hot, but I doubt any longer than that since cutting off 50% of the cooling system on one of these can't be ignored too long, surely capacitors would start to blow and who knows what else... (Warning = RANT) Another interesting side-note about the EVGA's and their "Precision-X" OveUnderclocking software is that it's designed to only recognize 4X GPU's on a single system. For miners, that's just not cool. My favorite builds had 8X and for the motherboards that weren't capable of maintaining stable sessions on 8, I set up with 6X. Only my EVGA Rigs had 3 or 4X GPU's dedicated to a single motherboard. Furthermore, and as stated in an earlier paragraph, (& this is just my opinion) = EVGA SOFTWARE SUCKS! Precision X wasn't friendly with every motherboard/CPU I threw at it and their extension software for the CLC Close-Loop-Cooling/ CPU water-coolers simply didn't work on anything, even integrating into their own Precision-X software. The amount of time it took me to finally find compatible matches with that stuff was beyond maddening. (END RANT). Which leads me to my other comments on the matter. That's what I had every single 1070 ti set at for TDP = 60-63%. Dropping the power load that much allowed me to bring down (on average) each 1070 ti to a constant 110-115W (mind you, this is only possible w/ "Titanium" rated PSU's, Platinum comes pretty damn close to the Titanium though) while mining Ethereum and was still able to maintain a bottom of 30 MH/s and a ceiling of 32 MH/s. Increasing the TDP to 80, 90, 100% or more only increased my hashrates (yields) negligibly, like 35-36 MH/s TOPS, which also meant each one was not only pulling 160-180W+ (Vs. the aforementioned 115'ish range), it also meant my rigs were creating a significantly greater amount of heat! Fortunately for the GPU's and my own personal habits, I live in South Florida where it's hot as balls typically, last winter was nothing like this one. Increasing my yields by 10-15% didn't justify increasing the heat production in my house by >30%, nor the added electricity costs from subjecting my AC handlers to that much of an extra work-load. For anyone reading this that doesn't know/understand what I'm talking about - after spending no less than 2-3 hours with each. and. every. one. I didn't play with the settings on just one and universally apply the settings to the rest. I found the 'prime' settings and documented them with a label-maker and notepad. Here's the math in a more transparent manner: *** I NEVER LET MY GPU's BREACH 61C, EVER. Only my 8X GPU rigs saw 60-61 & it was the ones I had in the center of the build (naturally). I have REALLY high power fans (used on BTC ASIC MINERS) that were sucking air from those GPU's which was the only way I was able to obtain such stellar results while mining with them. **\* Mining at "acceptable" heat temps (not acceptable to me, but most of the internet would disagree = 70C) and overclocking accordingly brings in X amount of yields per unit. = 'Tweaking' (underclocking) the GPU's to my parameters reduced my yield per unit from -10-15%, but it SAVED me well over 30-35% in direct electricity consumption, and an unknown amount of passive electricity consumption via creating approximately 20%+ less heat for my AC handler to combat. I say all this extra stuff not just for anyone interested in mining with their GPU's, but really to answer (in-depth) the apparent questions you people are asking me in PM's. Something else that should help justify my claims of being so conservative should be the fact I only have/used "Platinum and Titanium" rated PSU's. Heat production, power efficiency and longevity of the hardware were ALWAYS my top priority.* . I truly thought Crypto would continue to gain and/or recover and bounce back faster than it did. If this project had maintained positive income for 12 months+, I'd have expanded one of our sites to also cater to GPU mining on a gnarly scale. Once I have my NAS (& possibly 2nd rig for the firewall) successfully built, I'll be willing/able to entertain selling you guys some/all of the remaining hardware prior to launching on eBay. If there's something you're specifically looking for that I listed having, feel free to PM me with that/those specific item(s). Don't count on an immediate response but what you can count on is me honoring my word in offering whoever asks first right of refusal when the time comes for me to sell this stuff. Fortunately for me, PM's are time-stamped so that's how I'll gauge everyone's place in line. I hope this extra edit answers most of the questions you guys wanted to have answered and if not, sorry I guess. I'll do my best to bring light to anything I've missed out on after I realize whatever that error was/is. The only way anyone is getting first dibs on my hardware otherwise is if they either offer compelling insight into my original questions, or have something I need to trade w/. THE END (Round#2)
I hate my Fucking Mining Rig - Short Story of my mining adventure (Don't really hate it)
Wanted to write a short write up on my journey of Crypto mining for some of the newer people and people who want to get into it. Not trying to discourage anyone from starting, but want to show the progression of a newbie. So I am a good with computers and learned of Bitcoin when it was about $7 a coin. Laughed at the idea of some computer doing some math and getting some BS currency. Million dollar mistake on my part, but hindsight is always 20/20. Anyways, Learned about ethereum in May. Bought some at around $180 and bought all the way up to $330. Now to the mining rig. Ran all of the calculations and with a 180 hashrate and 900 watts I was gonna get 6-7 Eth per month. Shit was gonna be profitable in under 3 months. I was gonna be a fucking crypto allstar and be rich as fuck! Bought all of my parts literally the day before they were nonexistent. Literally bought the last RX480's from Amazon. Here is a list of my parts. Asrock board Pentium dual core processor 4 Gb of ram 128 gb SSD 1200 watt Rosewill PSU 6 Sata to Molex PCI Risers (Junk) 6 RX480's - 2 Asus Strix, 4 Gigabyte Total cost - Roughly $2,500 (Pennies compared to my future ROI) Please keep in mind that I am not posting every single miner issue that I ran into such as fucking with Wattman for a few weeks before learning about Trixx and Afterburner. I've built computers before, so that part wasn't hard. Set everything up and get windows 10 running. Problem 1 - Computer doesn't see all of the cards. Had to run the drivers a few times and tweak some shit, but got all 6 cards seen. Miner hurdle (See what I did there) but off to the races. Let's get this bitch running so I can begin planning my retirement. Get Claymore running, Got Trixx to overclock. Ran my cards at -96, 1200, 2200 fans at 85% (Cause I'm cool like that.) Major stability issues from the start. 1 card (Asus) would crash all the time. Didn't know about the watch dog feature in claymore that would restart my rig when a card crashed. Great feature but my computer would go into this state of having power, but not loading the operating system. Even if it did restart, most of the time claymore would get stuck right before setting the dag's and would just lock up. (Claymore program is awesome by the way, this was my rigs fault) Could not get this fucking Asus card to stop crashing, even on stock settings. Sent the bitch back RMA style. Asus said something was wrong and sent me a new one. Awesome, lets get this bitch running. I need to start looking at sick houses in Costa Rica to move to once I am rich as Fuck! New card makes things better for a few days. Not 100% stable but better. Go to vegas for a driving thing (Race cars - Future rich guy stuff) and this mechanical demon starts crashing every few hours. Luckily I had Google remote desktop installed so I could log on and restart it or change settings in Trixx. Had to have my GF unplug it and plug it in a few times. Get back home, fuck with this thing but still random crashes on random cards. Decide it is the PCI risers. Contact seller who will send me some more for free. Slow boat from china took two weeks to get them. They arrive but still some of them are bad. Can't seem to piece together 6 good ones. Did some research online (Ethereum Forum and Reddit) and decided to get some new style of risers V007 6 Pin to Sata ($70) and they take a month to get here. Plug them all in and they seem to be working much better. Decent stability, But I ain't got time for fucking stock bios. Let's ramp these bitches up and get 32 MHs per card at 600 watts from the wall! Actually flashing the bios was pretty easy. Thank you 6 pound 9 ounce baby jesus! Long story short had some major stability issues and bounced around with some different timing straps before finding the right ones. (Uber 3.1 for Samsung memory) So now that we've got some good hash speeds and decent stability let's ramp this private ATM up a little bit by dual mining some Decred. Get dual mining up and running. go to sleep. Wake up the next morning expecting to see myself on the top 100 forbes list. look at my mining rig stats on my phone and see that it died roughly and hour after I went to sleep. Walked toward my rig on the red carpet I had just installed and saw that it was off. Flicked on the light to check it out. No light, WTF? Well I'll be god damned, no power in this whole fucking room. Checked my breakers and sure enough this metal motherfucker tripped my breaker. No worries though. I'm smart as fuck. I'll just undervolt the shit out of it to get the power down. No way in hell I am just mining ether. I'm going balls to the wall! As you can expect I had many days of stability issues and tripped breakers. But fuck it, I have homeowners insurance. Burning it to the ground will be covered. (Didn't happen) My surge protector must be maxed out. Let's buy a bigger one ($25). Same issues. Fuck Decred, I'll mine SIA, less power. Damn I'm smart. Rig is more stable with Sia and no tripped breakers. Family medical emergency, have to fly north for a few days. But my rig has been fairly stable and I've got remote desktop if anything goes wrong. Arrive at airport, check mining stats, rig is down. No worries remote desktop. FUCK, not responsive, no way to remote into the rig and no way to remotely power it off and on. Lost 4 days of mining. But no worries the difficulty is only, Holy shit that's high! But the price of Ether will make up for it. Ether crashed to the $200's. Oh well, maybe a 10 room house in Costa instead of a 12. No sweat. Get back to my house and this whore of a machine is just sitting there in a computer coma. It's on but it's not. LED lights glaring at me like "Fuck you human, I ain't doing your stupid math problems!" Fuck you machine, I'm your master. You will do my math problems and you will fucking like it. My AMD Drivers seem to disappear and the computer goes into a coma like state. Someone on Reddit suggested using the 16.9.2 drivers. Installed and they worked better. Still random crashing. This shitty PSU must be maxed out. Fuck you PSU, I'm getting you a little brother (EVGA 750 gold $120.) What do you mean you have to jerry rig a second PSU so it starts without being connected to a motherboard? 2 more hours of my life wasted. But finally some stability. On my way to being fucking rich. I start looking at people in bentley's and can only laugh. You dumb fuck, I'm gonna be way richer then you. Gonna get a Bugatti for each day of the week. Damn this difficulty is a bitch. Fuck you Genesis Mining and your pallets of GPU's. You're killing me smalls! But anyway, on my way to rolling around in my fuck you money! Fuck you dag file 135, you're killing my future millions. Fuck you dag 138, you dropped me to 167 mhs. Thank god AMD was there to save my ass with their dope ass blockchain drivers. download, run DDU, Restart, install drivers, restart, run pixel patch, restart. Perfect, I'm in the money now! I can taste the caviar and champagne already. Now my cards only run 4 Mhs each. WTF? Try a bunch of the other new drivers. Same shit. Roll back to 16.9.2 and they run fine, just at 167 instead of 180. Someone on a forum said he had the same issue and did a fresh install of windows 10 and it worked. So I'll just reformat my SSD (Windows wouldn't do a fresh install within the operating system. Fuck you Bill Gates! Gonna buy you once I get this thing running at 180.) Format SSD, plug back in, throw in my gangster ass boot USB drive. Ramdisk error. Fuck you Bill Gates! Reformat SSD multiple times, lots of forum reading. Install windows from another computer through command prompt (I'm a coder now as well.) This shit has got to work, I did it in command prompt bitches! Same fucking error. Now down to an 8 bedroom house in Costa and only 6 Bugattis. Let's try unplugging my 6 cards and see if that works. Thank you 6 pound 9 ounce baby jesus. Windows installed. New drivers work and I'm back at 180! Raking in the cash now. With those speeds my Asus cards crashed. Had to dial down the hashrate to 177.5 for them to be stable. So now going to use some commands in claymore to run the Asus cards at lower speeds while letting my other cards mine harder. I wrote this to let people know that mining isn't all Bugatti's and caviar. These machines are fickle little cunts that do what they want. No system is the same. So when you post on a forum, people will give you advice on what may work. But what works for them, may not work on your rig. In the end it's up to you to figure it out. I have spent countless hours after work and on weekends working on this bitch. Hell I've probably spent a few hours just staring at it and thinking about all of the ways I could destroy it slowly. While I love Etheruem and do value the knowledge gained, I would have made more money just buying Eth and holding. The guys you see on youtube building sick rigs with crazy specs have been at it for a while. They have worked through the process and know how to solve all of the problems. You have not and will have to work them out on your own. My whore of a rig will pay for itself soon. But I would suggest that if you want to start building a new mining rig. Check the difficulty chart and make sure you have tons of free time to fuck with it. I'd post my wallet address for donations since I just saved you $2,600. But I am afraid hackers will steal my monies :) Hope you enjoyed my mining life story from the past few months.
USD (DXY) up 0.08%, EUR down 0.04%, GBP down 0.50%, JPY down 0.12%, CNY Onshore up 0.12%, CNH Offshore up 0.02%, AUD down 0.23%
VIX up 0.65% to 9.25
Gold up 0.13% to $1,269.01
Silver down 0.11% to $16.62
Copper up 0.25% to $305.40
WTI Crude down 0.79% to $50.39
Brent Crude down 0.18% to $56.90
Natural Gas down 0.44% to $2.91
Corn down 0.07% to $3.49/bu
Wheat up 0.06% to $4.41/bu
Bitcoin up 1.55% to $4,414.56
Treasuries 2yr yields are up ~1.3bps at 1.500%, 10yr yields are up ~1.6bps at 2.364% and 30yr yields are up ~0.9bps at 2.899%
Japan 10yr yields 0.045%, up ~1.0bps on the day
France 10yr yields 0.750%, up ~1.9bps on the day
Italy 10yr yields 2.156%, up ~1.8bps on the day
Spain 10yr yields 1.704%, up ~1.8bps on the day
Germany 10yr yields 0.474%, up ~2.2bps on the day
What’s happening this morning? It was another slow evening of news other than the German Aug factory order numbers (which were very strong although the euro and Eurozone stocks are both in the red), a few US earnings reports (COST and YUMC), andsome M&A (GIMO, HON, JWN, PENN/PNK, SNCR, and more). The overall macro narrativeremains the same as it was at the Thurs close (see below for an update on the macro narrative as well as potential upcoming risks). The major Asian indices generally saw gains – TPX +0.28%, NKY +0.3%, Hang Seng +0.28%, HSCEI +0.54%, Taiwan +0.14%, Australia +1.04%, and India +0.5-7% (mainland China and Korea were both closed). There weren’t any huge themes in Asia although Macau casino stocks were weak in HK on back of underwhelming Golden Week visitor numbers (autos and financials led HK on the upside). Australia’s 1% rally was led by banks, miners, and telecoms. The major Eurozone indices are trading off small (~10-20bp); autos are outperforming while banks, retail, energy, and utilities lag. The GBP is extending its losses from Thurs amid more uncertainty around UK PM May (the DXY spiked ~50bp Thurs and is up small so far Fri morning). US S&P futures are trading down 1-2 points.
Calendar for Fri 10/6 – the focus will be on the US jobs report for Sept (8:30amET), US wholesale inventories/trade sales for Aug (10amET), US consumer credit for Aug (3pmET), and Fed speakers (Kaplan 8:30amET on CNBC, Bostic 9:15amET, Dudley 12:15pmET, Kaplan 12:45pmET, and Bullard 1pmET). o US jobs preview – there is very little anticipation or focus on the Sept jobs report (Fri morning 8/6 8:30amET) as 1) most are anticipating large storm-related distortions and 2) at this point in the cycle it only requires ~75K monthly adds to keep the UR steady (as was discussed in this JPMorgan report http://bit.ly/2fbT6cE). The St is in print at +80K for adds (vs. ADP for Sept at +135K and Aug BLS +156K) w/a 4.4% UR (unchanged w/Aug) and wages +0.3% M/M and +2.5% Y/Y (vs. Aug +0.1% M/M and +2.5% Y/Y). It’s very difficult to see the Sept BLS report changing the near-term US monetary policy trajectory (w/ongoing normalization and a FF hike on 12/13). The potential for a hike on 11/1 is very low and if anything the Sept CPI on Fri 10/13 may be a more important data point than jobs on Fri 10/6. Instead, the bigger Fed uncertainty has nothing to do w/data or policy but instead concerns staffing (i.e. who will be the next chair? A Trump announcement could come as soon as next week – Powell and Warsh are the frontrunners according to media reports w/the former appearing to have a slight edge).
Top Headlines for Friday
Eco data recap for Fri morning 10/6 – the big data came out of Germany where factory orders for Aug beat expectations by a wide margin (orders +3.6% M/M vs. the St +0.7% and +7.8% Y/Y vs. the St +4.7%). See JPMorgan’s comments on the German data (http://bit.ly/2y42sh4). Japan’s wage inflation figures for Aug were soft, as expected (http://bit.ly/2kuygr0). o Fed chair – markets would be comfortable w/any of the main candidates (including Powell, Warsh, Cohn, Yellen, etc.) w/the exception of one person: John Taylor. Bloomberg. o Fed update – Kansas City Fed President George spoke Thurs night and said the US economy needed further rates hikes (http://cnb.cx/2kqTiqj). JPMorgan’s Mike Feroli published an updated FOMC hawk/dove chart following the confirmation of Quarles (http://bit.ly/2z1jSti). o Japan’s “Party of Hope” unveils an economic agenda that pledges to rely less on aggressive fiscal and monetary stimulus – Reuters http://reut.rs/2ghahXu o AUD hit as RBA’s Harper doesn’t rule out a rate cut in a WSJ article. http://on.wsj.com/2xW3nkD
UK PM May the subject of more speculation amid disclosure of plot to topple her; former party chairman, Grant Shapps, said May’s leadership should now be challenged. Reuters http://reut.rs/2yMrmzB
Spain/Catalonia – Spain’s Constitutional Court ordered the suspension of the Catalan parliament’s regional session scheduled for Mon; Catalonia had planned on declaring independence at the session. Reuters http://reut.rs/2xlDfjC o Spain’s gov’t will change rules and make it easier for firms to move their legal base out of Catalonia – Reuters http://reut.rs/2z1WQCF
Tax update - there is a lot of focus on taxes in the US as the Senate Budget Committee (right at the Thurs close) and the full House (at ~1pmET Thurs afternoon) advance budget resolutions (the full Senate will presumably vote within the next two weeks). This is a necessary step in the tax process (as these resolutions contain the reconciliation instructions allowing tax to pass via a simple majority in the Senate) but also a relatively minor one. Far more complicated will be agreeing on rates, deduction schedules, deficits, etc., and if anything all the press in the last few days and weeks point to divisions within the GOP on these matters being larger than anticipated. o Schumer warns that the proposal to eliminate the SALT deduction will kill the GOP tax plan – Bloomberg. https://bloom.bg/2xXX8KL o GOP desire to repeal the estate tax runs into resistance - from Republicans. As a result this piece of the 9/27 tax blueprint (among others) may wind up being scrapped - WSJ. http://on.wsj.com/2gf9G8E o Fed officials express concern over tax plans – Fed officials warned the tax plan may only provide a temporary boost to growth while fueling inflation and driving debt to unsustainable levels – Reuters http://reut.rs/2xWMrdG
Republican headaches keep growing as donors withhold money, a tax consensus fails to materialize, and “establishment” figures depart the scene (Strange losing to Moore, Corker retiring, etc.). Republican leaders are increasingly concerned about the party’s grip on the House and Senate should it fail to pass a tax bill. Leaders “fear that the inchoate populism that Mr. Trump personifies, and which Mr. Bannon is attempting to weaponize against incumbents, is on the march” – NYT http://nyti.ms/2y3lUKT
Trump looks to jolt NAFTA – the White House is considering a proposal that would represent a radical shift to the principles underlying NAFTA. According to rule changes being considered, automobiles would need to have a specific level of US-made content in order to qualify for tariff breaks (right now autos only need to have a specific level of content from within the NAFTA region). WSJ. http://on.wsj.com/2y4LXlo
Trump makes cryptic comment ahead of a dinner with US military leaders. Trump said the dinner might represent “the calm before the storm”. Asked repeatedly by reporters to clarify his comments, Trump said, “You’ll find out” – Bloomberg https://bloom.bg/2xXI2r6
Trump was “furious” over NBC’s Tillerson “moron” article; John Kelly was forced to rearrange his schedule and stayed in Washington in order to try and calm tensions – NBC. http://nbcnews.to/2fOGx3B
Iran/Trump – Trump will “decertify” the Iran nuclear accord next week (speech on 10/12) and declare the agreement as not being in the US national interest according to the Washington Post (article out at ~2:40pmET Thurs afternoon). This is consistent w/what the AP and Politico reported earlier in the week. Note that Trump’s 10/12 declarations won’t end the Iranian nuclear pact as it will be up to Congress whether re-impose sanctions on Tehran (and Trump will hold off on recommending such a step). Washington Post http://wapo.st/2z1zeOw o Decertifying the Iran Deal Wouldn’t Have to Kill It – WSJ http://on.wsj.com/2y40dKY
North Korea – US lawmakers are pressuring the Trump White House to toughen sanctions against North Korea – WSJ. http://on.wsj.com/2xlKdVQ
The Economist's lead article this week speaks to sentiment at the moment and this is one of the big reasons why stocks are proving to be so resilient. "Asset prices are high across the board. Is it time to worry?" (http://econ.st/2xVXOjv). o The WSJ notes that a key European junk-bond index is now yielding less than 10yr US TSYs although it offers a reasonable explanation for this ostensibly irrational price level – WSJ. http://on.wsj.com/2xkwYVb
Company-specific news update from Thurs night. There were a few earnings reports out Thurs AMC but for the most part it was another slow evening. COST EPS beats thanks to better SG&A and favorable tax while GMs were light; Sept same-store-sales beat w/upside in the US (the stock ended down 3% during the Thurs after-hours trading session). YUMC’s results came in ahead of expectations (EPS/same-store-sales) and it increased capital return. SNCR reentered M&A talks w/Siris Capital (Siris is looking to buy SNCR’s Intralinks and may take a ~20% equity stake in SNCR); SNCR ended up ~27% during the Thurs after-hours trading session. According to the WSJ, HON is pursuing an acquisition of Evoqua Water Tech in a deal that could be worth $3B (http://on.wsj.com/2yseCSp). The WSJ reported (during trading on Thurs http://on.wsj.com/2xjE24p) on merger talks between PENN and PNK (the firms have been unable to agree to terms but PENN is still interested in buying PNK).
JWN buyout not completely dead – the Nordstrom family is exploring a new deal structure w/Leonard Green that would involve less debt. The family is trying to raise more equity (although it isn’t clear where the money will come from). WSJ. http://on.wsj.com/2ggTvbh
GIMO – Elliot’s takeover talks w/the company have ground to a halt according to Reuters over price disagreements – Reuters http://reut.rs/2fNCepo
SUM, ASHG – SUM has made a rival bid for ASHG as it looks to scuttle the existing Ash Grove-CRH PLC transaction. Ash Grove’s board said the offer could result in a superior proposal and that it would engage in talks with the third party. Bloomberg.
AMZN: the one market where Amazon is failing to dominate: Hollywood. The WSJ discusses AMZN’s failure to become a force in content. WSJ. http://on.wsj.com/2xZcJtr
Macau casino stocks slump during Fri trading as Golden Week visitor numbers disappoint expectations – Bloomberg https://bloom.bg/2fOuGmd
Identifying risks – what could go wrong?
Reflation enthusiasm is undercut by less aggressive CB normalization, dramatic curve flattening, and/or a softening in nominal growth. Of all the reflation pieces (monetary policy normalization, expansionary fiscal policy, firming inflation, and ongoing real growth strength), the last piece (real growth) is increasingly being taken for granted.
Bank investors wind up focusing too much on reflation/yields (which are tailwinds) but miss weakening credit (higher provisions) and tepid loan growth.
The first speech by the next Fed chair unsettles sentiment (assuming the chair isn’t Yellen).
The tax process slows in Washington as Republicans prove incapable of reaching a consensus on rates, deductions, and deficits.
Paul Ryan decides to “pull a Boehner”, stepping down as Speaker out of frustration with his inability to pass legislation.
The final tax bill results in materially higher rates for upper-income Americans.
May winds up stepping down as UK PM, sowing ongoing Brexit uncertainty.
Abe does much worse than anticipated during the upcoming Japan election (10/22).
North Korea conducts an above-ground nuclear bomb test (or even worse, an atmospheric test).
Iran decides to resume its nuclear weapons program, sparking an immediate escalation of Middle East geopolitical tensions (Trump’s Iran speech is coming up on 10/12).
Washington introduces (or threatens to introduce) tough new regulations aimed at internet/social media companies following the Russia election investigations (note that US internet giants will be testifying before Congress on 11/1).
Prominent members of the Trump team decide to leave the gov’t (the market would be particularly sensitive to Tillerson, Mattis, Kelly, and/or Cohn departing; recent media reports suggest the Tillerson-Trump relationship is particularly strained).
The pro-reflation bias commenced back on 9/11 and has been propelled ever since by ongoing real growth strength, firming inflation, normalizing monetary policy/rhetoric, and expansionary fiscal policy (in particular in the US w/the 9/27 tax blueprint but also in Germany following that country’s election outcome and fin min change).
This enthusiasm can extend for a few more weeks but the ECB/BOE decisions (on 10/26 and 11/2, respectively) will mark the culmination of a series of pro-reflation catalysts/developments and thus the trade may enter a period of extended consolidation around those central bank events.
Meanwhile the nuances of this present reflation process aren’t being appreciated – growth and corporate earnings are late-cycle (not early), multiples are already rich (although not necessarily ridiculous), inflation is only very gradually firming to target, the economy faces enormous structural headwinds in the form of labor supply and productivity growth, and while central banks are normalizing policy will stay extremely accommodative for years to come (the structural headwinds and slow tightening pace will prevent yields from materially rising and curves from significantly steepening).
The tenor of sentiment is beginning to evolve and there is definitely greater frustration w/people being forced to participate in a tape many don’t particularly love at present levels – this helps fuel runs such has occurred over the last few weeks (the SPX hasn’t closed in the red since Mon 9/25) but it also makes for a precarious setup w/a lot of weak “renters” who will be quick to sell the minute momentum pauses.
Bottom Line: the lack of major catalysts is helping the rally propagate and the calendar is relatively clear until earnings (which kick off w/banks on Thurs 10/12). The reflation impetus will likely stay in place into the ECB/BOE (10/26 and 11/2, respectively) after which a consolidation (at least) is likely (note that a lot of the “easy” tax steps are occurring now – the blueprint on 9/27, the budget resolutions, etc. However, reaching a consensus on rates, deductions, and deficits will be extremely difficult and this will become more apparent later in Oct and into Nov, around the same time as the ECB/BOE decisions).
Calendar of events to watch for the week of Mon Oct 9
Calendar for the week of 10/9 – overall it should be a relatively slow week although a few items are in focus. The current reflation emphasis makes the US CPI on Fri 10/13 prob. the single most important eco data point of the week but there are other numbers in focus (German trade/IP for Aug and China imports/exports for Sept). The CQ3 earnings season kicks off in earnest with the banks on Thurs and Friday. Away from scheduled events, media reports suggest Catalonia could formally declare independence on Mon (although this could easily be delayed following court challenges and as the region’s leaders seek a settlement w/Madrid) while the White House may unveil its infrastructure spending blueprint during the week of 10/9 (http://bit.ly/2wwiop9). South Korean security officials have warned that North Korea may fire additional missiles between 10/10 and 10/18 while Trump’s Fed chair selection could come soon (media reports suggest Powell and Warsh are the two frontrunners). Trump is expected to deliver an Iranian policy speech on/around Thurs 10/12 during which he will declare the nuclear deal as no longer being in the US national interest. HON has said it will announce its formal portfolio review decision prior to earnings (media reports, including on CNBC, suggest it will retain its aerospace unit).
Calendar for Mon 10/9 – the day should be pretty quiet owing to the US Columbus Day holiday (equities will be open but fixed income is closed). The focus will be on the China FX reserve numbers for Sept (Fri night/Sat morning 10/7), the China Caixin services PMI for Sept (Sun night/Mon morning), Germany’s industrial production for Aug (2amET), and earnings (LVMH reports results after the European close).
Calendar for Tues 10/10 – the focus will be on the German trade figures for Aug (2amET), a bunch of analyst meetings (including TECD, Santander, WDAY, and WMT), the PG shareholder meeting (at which the Trian/Peltz board seat request will be voted on), and earnings (CUDA after the close).
Calendar for Wed 10/11 – the focus will be on the US JOLTs report for Aug (10amET), Fed minutes from the 9/20 meeting (2pmET), analyst meetings (KR), and earnings (DAL, BLK, FAST, and OZRK before the open).
Calendar for Thurs 10/12 – the focus will be on Eurozone IP for Aug (5amET), the US PPI for Sept (8:30amET), Trump’s Iran speech, analyst meetings (BOX, HPQ, LSCC, and WDC), and earnings (C, DPZ, JPM, LNN, Sky PLC, and Tata Consultancy pre-open).
Calendar for Fri 10/13 – the focus will be on China’s imports/exports for Sept (Thurs night/Fri morning), the US CPI for Sept (8:30amET), US retail sales for Sept (8:30amET), the Michigan Confidence numbers for Oct (10amET), US business inventories for Aug (10amET), analyst meetings (SAFM), and earnings (BAC, DRFG, FHN, FRC, JBHT, Man Group, PNC, and WFC pre-open).
Catalysts – big events to watch over the coming months
China mainland markets closed Mon 10/2-Fri 10/6 for the National Day holiday.
US jobs report for Sept – Fri 10/6.
US infrastructure spending - the Trump White House may unveil its long-anticipated infrastructure plan during the week of 10/9 according to House Transport chairman Rep. Bill Shuster.
North Korea - South Korea’s national security adviser Chung Eui-yong said he expected Pyongyang to act around Oct. 10 and 18 (Reuters).
WMT analyst meeting – Tues 10/10 (note that KR has an analyst meeting the next day, Wed 10/11).
PG shareholder meeting – Tues 10/10 (decision to be made on Peltz’s board seat request).
Fed minutes – minutes from the 9/20 meeting will be released Wed 10/11. 2pmET.
HON – the co will announce its portfolio review decision before earnings in Oct.
Iran - Trump is planning to deliver an Iran policy speech on 10/12 and he is expected to say that the landmark 2015 nuclear deal is no longer in the U.S. national security interest (AP)
Bank earnings – the CQ3 earnings season kicks off w/Citigroup and JPM Thurs morning 10/12 while BAC, PNC, and WFC all report Fri 10/13.
US inflation – the Sept CPI will hit Fri 10/13.
IMF/World Bank - 2017 Annual Meetings of the World Bank Group and the International Monetary Fund. Oct 13-15 in Washington.
CQ3 earnings – the week of Mon 10/16 is the first busy week of the CQ3 reporting season.
Fed chair decision during the week of 10/16? Based on Trump’s “two to three” weeks comment (on Fri 9/29), his decision on a Fed chair could come as soon as the week of 10/16 (this week is also the first busy period of the CQ3 earnings season, the deadline for Trump to rule on the Iran nuclear deal, and the beginning of the China National Congress on 10/18). Media reports suggest the Fed chair frontrunners are Warsh and Powell followed by Yellen and Cohn.
China - the National Congress of the Communist Party of China starts Oct 18.
China Q3 GDP and Sept retail sales, IP, and FAI (Wed night/Thurs morning) – Thurs morning 10/19.
EU leaders hold summit in Brussels. Oct 19-20. Brussels.
Japan – the country will hold snap elections on Sun 10/22.
Flash PMIs for Oct – Tues 10/24
ECB meeting/press conf. Thurs Oct 26. The ECB is expected to provide guidance on LSAP tapering at this meeting (St assumes LSAP drops from EU60B now to EU40B w/6 month extension).
1949: The Year That Set the Course of Chinese-American Relations – NYT http://nyti.ms/2z2hGSv M&A/Strategic Actions
Brooklyn Nets – multiple suitors are in talks to buy a 49% stake in the NBA deal. Mikhail Prokhorov is seeking a valuation of >$2B for the entire team. NY Post. http://nyp.st/2y3KFY0 o Brooklyn Nets – BABA denied that its vice chairman, Joseph Tsai, was in talks to buy a stake in the Nets – Reuters http://reut.rs/2yuCBRa
GIMO – Elliot’s takeover talks w/the company have ground to a halt according to Reuters over price disagreements – Reuters http://reut.rs/2fNCepo
HON - according to the WSJ, HON is pursuing an acquisition of Evoqua Water Tech in a deal that could be worth $3B (http://on.wsj.com/2yseCSp).
HPQ, Samsung – China said it will approve HPQ’s purchase of Samsung’s printer business – Reuters http://reut.rs/2y06khP
JWN buyout not completely dead – the Nordstrom family is exploring a new deal structure w/Leonard Green that would involve less debt. The family is trying to raise more equity (although it isn’t clear where the money will come from). WSJ. http://on.wsj.com/2ggTvbh
PENN, PNK - the WSJ reported (during trading on Thurs http://on.wsj.com/2xjE24p) on merger talks between PENN and PNK (the firms have been unable to agree to terms but PENN is still interested in buying PNK).
Retailers helped through bankruptcy process – Reuters notes that many retailers are obtaining help during the bankruptcy process w/many being allowed to stay in business w/their store bases largely intact – Reuters http://reut.rs/2y3NcAN
SNCR - On October 4, 2017, SNCR and Siris determined to restart discussions regarding a potential transaction. Specifically, Siris is offering to buy Intralinks for $915MM cash, invest $185MM for a convert worth ~20% of SNCR’s common shares, and cancel the ~6MM SNCR common shares it now owns.
SUM, ASHG – SUM has made a rival bid for ASHG as it looks to scuttle the existing Ash Grove-CRH PLC transaction. Ash Grove’s board said the offer could result in a superior proposal and that it would engage in talks with the third party. Bloomberg.
Unilever – the co is seeking PE bids for its spreads business by 10/19; a sale could be worth $8B – Reuters http://reut.rs/2fNDYPe
Full catalyst list
Fri Oct 6 – German factory orders for Aug. 2amET.
Fri Oct 6 – US jobs report for Sept. 8:30amET.
Fri Oct 6 – US wholesale inventories/trade sales for Aug. 10amET.
Fri Oct 6 – US consumer credit for Aug. 3pmET.
Fri Oct 6 – Fed speakers: Bostic, Kaplan, Bullard
Sat Oct 7 – China FX reserves for Sept (Fri night/Sat morning)
Mon Oct 9 – China Caixin services PMI for Sept (Sun night/Mon morning)
Mon Oct 9 – German industrial production for Aug. 2amET.
Mon Oct 9 – earnings after the European close: LVMH.
Mon Oct 9 – Columbus Day holiday in the US (equities will be open while fixed income is closed).
Tues Oct 10 – German trade balance for Aug. 2amET.
Tues Oct 10 – analyst meetings: TECD, Santander, WDAY, WMT
Tues Oct 10 – PG shareholder meeting
Tues Oct 10 – earnings after the close: CUDA
Wed Oct 11 – US JOLTs report for Aug. 10amET.
Wed Oct 11 – Fed minutes from the Sept 20 meeting (2pmET).
Wed Oct 11 – analyst meetings: KR
Wed Oct 11 – earnings before the open: BLK, DAL, FAST, OZRK.
Thurs Oct 12 – Eurozone industrial production for Aug. 5amET.
Thurs Oct 12 – US PPI for Sept. 8:30amET.
Thurs Oct 12 – analyst meetings: BOX, HPQ, LSCC, WDC.
Thurs Oct 12 – earnings before the open: C, DPZ, JPM, LNN, Sky PLC, Tata Consultancy.
Thurs Oct 12 – earnings after the close: EXFO
Fri Oct 13 – China imports/exports for Sept (Thurs night/Fri morning)
Fri Oct 13 – US CPI for Sept. 8:30amET.
Fri Oct 13 – US retail sales for Sept. 8:30amET.
Fri Oct 13 – US Michigan Sentiment for Oct. 10amET.
Fri Oct 13 – US business inventories for Aug. 10amET.
Fri Oct 13 – analyst meetings: SAFM
Fri Oct 13 – earnings before the open: BAC, DRFG, FHN, FRC, JBHT, Man Group, PNC, WFC.
Mon Oct 16 – China CPI/PPI for Sept (Sun night/Mon morning)
Mon Oct 16 – Eurozone trade balance for Aug. 5amET.
Mon Oct 16 – earnings before the open: SCHW
Mon Oct 16 – earnings after the close: BRO, IEX, NFLX, Rio Tinto
Tues Oct 17 – Eurozone Sept auto registrations. 2amET.
Tues Oct 17 – German ZEW survey results for Oct. 5amET.
Tues Oct 17 – US import prices for Sept. 8:30amET.
Tues Oct 17 – US industrial production for Sept. 9:15amET.
Tues Oct 17 – US NAHB housing index for Oct. 10amET.
Tues Oct 17 – earnings before the open: BMI, CMA, CSX, GS, GWW, HOG, JNJ, MS, Pearson, PLD, Remy Cointreau, UNH
Tues Oct 17 – earnings after the close: ADTN, BHP, CP, CREE, IBM, LRCX, NAVI.
Wed Oct 18 – US housing starts for Sept. 8:30amET.
Wed Oct 18 – US building permits fro Sept. 8:30amET.
Wed Oct 18 – US Beige Book. 2pmET.
Wed Oct 18 – earnings before the open: ABT, Akzo Nobel, MTB, NTRS, USB
Wed Oct 18 – earnings after the close: AA, AXP, BHE, CCI, CCK, EBAY, LLNW, SLG, TCBI
Thurs Oct 19 – China Q3 GDP and Sept retail sales, IP, and FAI (Wed night/Thurs morning)
Tues Oct 24 – earnings after the close: AKAM, AMP, CMG, COF, DFS, ESRX, IRBT, T, TSS, TXN.
Wed Oct 25 – US durable goods for Sept. 8:30amET.
Wed Oct 25 – US FHFA home price index for Aug. 9amET.
Wed Oct 25 – US new home sales for Sept. 10amET.
Wed Oct 25 – earnings before the open: ALK, ALLY, ANTM, Antofagasta, AOS, BA, BAX, Dassault Systemes, DPS, FCX, FLIR, Fresnillo, HBAN, Heineken, IP, IR, KO, LEA, LH, Lloyds Banking Group, NDAQ, NSC, NYCB, Peugeot, TMO, TUP, V, WBA, WEC.
Wed Oct 25 – earnings after the close: ABX, ACGL, AFL, AMGN, CLGX, DLR, FFIV, FTI, KIM, LSTR, NOW, ORLY, PKG, PLXS, RJF, TSCO, UNM, VAR, XLNX.
Thurs Oct 26 – US wholesale inventories for Sept. 8:30amET.
Thurs Oct 26 – US advance goods trade balance for Sept. 8:30amET.
Thurs Oct 26 – US pending home sales for Sept. 10amET.
Thurs Oct 26 – earnings before the open: Aixtron, ALLE, ALV, Anheuser Busch, APD, Bayer, BMY, BSX, BWA, CCMP, CELG, CHTR, CMCSA, CME, Deutsche Bank, ENTG, EQT, F, HLT, MMC, NEM, Nokia, ODFL, Santander, Schneider Electric, UNP, UPS, WM, XEL.
Thurs Oct 26 – earnings after the close: AIV, ATEN, CB, CDNS, EXPE, FLEX, FTNT, GILD, GOOG, HIG, INTC, LPLA, MSFT, NATI, PFG, SYK, VDSI, VRSN.
Fri Oct 27 – China Sept industrial profits (Thurs night/Fri morning).
Fri Oct 27 – US Q3 GDP, personal consumption, and core PCE for Q3. 8:30amET.
Fri Oct 27 – US Michigan Confidence numbers for Oct. 10amET.
Fri Oct 27 – earnings before the open: B, MRK, PSX, SC, TRU, Volkswagen, WY, XOM.
Mon Oct 30 – US personal income/spending and PCE for Sept. 8:30amET.
Mon Oct 30 – US Dallas Fed index for Oct. 10:30amET.
Mon Oct 30 – analyst meetings: CSX
Mon Oct 30 – earnings before the open: HSBC
Mon Oct 30 – earnings after the close: AVB, CGNX, RE, RTEC, VNO
Tues Oct 31 – US Employment Cost Index for Q3. 8:30amET.
Tues Oct 31 – US Case-Shiller home price index for Aug. 9amET.
Tues Oct 31 – US Chicago PMI for Oct. 9:45amET.
Tues Oct 31 – US Conference Board Sentiment readings for Oct. 10amET.
Tues Oct 31 – earnings before the open: ADM, AET, Airbus, AMT, Barclays, BNP, CMI, ECL, GGP, K, MA, OSK, PFE, XYL.
Tues Oct 31 – earnings after the close: APC, CHRW, CXO, WFT, X
Wed Nov 1 – US ADP jobs report for Oct. 8:15amET.
Wed Nov 1 – US Markit Manufacturing PMI for Oct. 9:45amET.
Wed Nov 1 – US Manufacturing ISM for Oct. 10amET.
Wed Nov 1 – US construction spending report for Sept. 10amET.
Wed Nov 1 – US auto sales for Oct.
Wed Nov 1 – FOMC meeting decision. 2pmET.
Wed Nov 1 – earnings before the open: AGN, APO, CLX, EL, GRMN, HFC, Novo Nordisk, ORBK, Standard Chartered, TAP, TRI.
Wed Nov 1 – earnings after the close: ALL, BHF, BXP, CAVM, CSGS, FB, LNC, MANT, MET, MUSA, OXY, PRU, QCOM, ULTI, XPO.
Thurs Nov 2 – US nonfarm productivity and unit labor costs for Q3. 8:30amET.
Thurs Nov 2 – earnings before the open: ADP, AN, BCE, CI, Credit Suisse, DISCA, H, ICE, Royal Dutch Shell, Sanofi, Swiss Re, WRK.
Thurs Nov 2 – earnings after the close: AAPL, AIG, CBS, CRUS, FLR, HLF, RMAX, SBUX, UNIT.
Fri Nov 3 – US jobs report for Oct. 8:30amET.
Fri Nov 3 – US trade balance for Sept. 8:30amET.
Fri Nov 3 – US factory orders and durable goods orders for Sept. 10amET.
Fri Nov 3 – US non-manufacturing ISM for Oct. 10amET.
Tues Nov 7 – US JOLTs jobs report for Sept. 10amET.
Tues Nov 7 – US consumer credit for Sept. 3pmET.
Thurs Nov 9 – US wholesale trade sales/inventories for Sept. 10amET.
Fri Nov 10 – US Michigan Confidence preliminary numbers for Nov. 10amET.
Tues Nov 14 – US PPI for Oct. 8:30amET.
Wed Nov 15 – US CPI for Oct. 8:30amET.
Wed Nov 15 – US Empire Manufacturing for Nov. 8:30amET.
Wed Nov 15 – US retail sales for Oct. 8:30amET.
Wed Nov 15 – US business inventories for Sept. 10amET.
Thurs Nov 16 – US import prices for Oct. 8:30amET.
Thurs Nov 16 – US industrial production for Oct. 9:15amET.
Thurs Nov 16 – US NAHB housing index for Nov. 10amET.
Fri Nov 17 – US housing starts and building permits for Oct. 8:30amET.
Mon Nov 20 – US Leading Index for Oct. 10amET.
Tues Nov 21 – US existing home sales for Oct. 10amET.
Wed Nov 22 – US durable goods for Oct. 8:30amET.
Wed Nov 22 – US final Michigan Confidence numbers for Nov. 10amET.
Wed Nov 22 – FOMC 11/1 meeting minutes. 2pmET.
Fri Nov 24 – US flash PMIs for Nov. 9:45amET.
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Repost - I hate my Fucking Mining rig! (Not really)(Long)
Wanted to write a short write up on my journey of Crypto mining for some of the newer people and people who want to get into it. Not trying to discourage anyone from starting, but want to show the progression of a newbie. So I am a good with computers and learned of Bitcoin when it was about $7 a coin. Laughed at the idea of some computer doing some math and getting some BS currency. Million dollar mistake on my part, but hindsight is always 20/20. Anyways, Learned about ethereum in May. Bought some at around $180 and bought all the way up to $330. Now to the mining rig. Ran all of the calculations and with a 180 hashrate and 900 watts I was gonna get 6-7 Eth per month. Shit was gonna be profitable in under 3 months. I was gonna be a fucking crypto allstar and be rich as fuck! Bought all of my parts literally the day before they were nonexistent. Literally bought the last RX480's from Amazon. Here is a list of my parts. Asrock board Pentium dual core processor 4 Gb of ram 128 gb SSD 1200 watt Rosewill PSU 6 Sata to Molex PCI Risers (Junk) 6 RX480's - 2 Asus Strix, 4 Gigabyte Total cost - Roughly $2,500 (Pennies compared to my future ROI) Please keep in mind that I am not posting every single miner issue that I ran into such as fucking with Wattman for a few weeks before learning about Trixx and Afterburner. I've built computers before, so that part wasn't hard. Set everything up and get windows 10 running. Problem 1 - Computer doesn't see all of the cards. Had to run the drivers a few times and tweak some shit, but got all 6 cards seen. Miner hurdle (See what I did there) but off to the races. Let's get this bitch running so I can begin planning my retirement. Get Claymore running, Got Trixx to overclock. Ran my cards at -96, 1200, 2200 fans at 85% (Cause I'm cool like that.) Major stability issues from the start. 1 card (Asus) would crash all the time. Didn't know about the watch dog feature in claymore that would restart my rig when a card crashed. Great feature but my computer would go into this state of having power, but not loading the operating system. Even if it did restart, most of the time claymore would get stuck right before setting the dag's and would just lock up. (Claymore program is awesome by the way, this was my rigs fault) Could not get this fucking Asus card to stop crashing, even on stock settings. Sent the bitch back RMA style. Asus said something was wrong and sent me a new one. Awesome, lets get this bitch running. I need to start looking at sick houses in Costa Rica to move to once I am rich as Fuck! New card makes things better for a few days. Not 100% stable but better. Go to vegas for a driving thing (Race cars - Future rich guy stuff) and this mechanical demon starts crashing every few hours. Luckily I had Google remote desktop installed so I could log on and restart it or change settings in Trixx. Had to have my GF unplug it and plug it in a few times. Get back home, fuck with this thing but still random crashes on random cards. Decide it is the PCI risers. Contact seller who will send me some more for free. Slow boat from china took two weeks to get them. They arrive but still some of them are bad. Can't seem to piece together 6 good ones. Did some research online (Ethereum Forum and Reddit) and decided to get some new style of risers V007 6 Pin to Sata ($70) and they take a month to get here. Plug them all in and they seem to be working much better. Decent stability, But I ain't got time for fucking stock bios. Let's ramp these bitches up and get 32 MHs per card at 600 watts from the wall! Actually flashing the bios was pretty easy. Thank you 6 pound 9 ounce baby jesus! Long story short had some major stability issues and bounced around with some different timing straps before finding the right ones. (Uber 3.1 for Samsung memory) So now that we've got some good hash speeds and decent stability let's ramp this private ATM up a little bit by dual mining some Decred. Get dual mining up and running. go to sleep. Wake up the next morning expecting to see myself on the top 100 forbes list. look at my mining rig stats on my phone and see that it died roughly and hour after I went to sleep. Walked toward my rig on the red carpet I had just installed and saw that it was off. Flicked on the light to check it out. No light, WTF? Well I'll be god damned, no power in this whole fucking room. Checked my breakers and sure enough this metal motherfucker tripped my breaker. No worries though. I'm smart as fuck. I'll just undervolt the shit out of it to get the power down. No way in hell I am just mining ether. I'm going balls to the wall! As you can expect I had many days of stability issues and tripped breakers. But fuck it, I have homeowners insurance. Burning it to the ground will be covered. (Didn't happen) My surge protector must be maxed out. Let's buy a bigger one ($25). Same issues. Fuck Decred, I'll mine SIA, less power. Damn I'm smart. Rig is more stable with Sia and no tripped breakers. Family medical emergency, have to fly north for a few days. But my rig has been fairly stable and I've got remote desktop if anything goes wrong. Arrive at airport, check mining stats, rig is down. No worries remote desktop. FUCK, not responsive, no way to remote into the rig and no way to remotely power it off and on. Lost 4 days of mining. But no worries the difficulty is only, Holy shit that's high! But the price of Ether will make up for it. Ether crashed to the $200's. Oh well, maybe a 10 room house in Costa instead of a 12. No sweat. Get back to my house and this whore of a machine is just sitting there in a computer coma. It's on but it's not. LED lights glaring at me like "Fuck you human, I ain't doing your stupid math problems!" Fuck you machine, I'm your master. You will do my math problems and you will fucking like it. My AMD Drivers seem to disappear and the computer goes into a coma like state. Someone on Reddit suggested using the 16.9.2 drivers. Installed and they worked better. Still random crashing. This shitty PSU must be maxed out. Fuck you PSU, I'm getting you a little brother (EVGA 750 gold $120.) What do you mean you have to jerry rig a second PSU so it starts without being connected to a motherboard? 2 more hours of my life wasted. But finally some stability. On my way to being fucking rich. I start looking at people in bentley's and can only laugh. You dumb fuck, I'm gonna be way richer then you. Gonna get a Bugatti for each day of the week. Damn this difficulty is a bitch. Fuck you Genesis Mining and your pallets of GPU's. You're killing me smalls! But anyway, on my way to rolling around in my fuck you money! Fuck you dag file 135, you're killing my future millions. Fuck you dag 138, you dropped me to 167 mhs. Thank god AMD was there to save my ass with their dope ass blockchain drivers. download, run DDU, Restart, install drivers, restart, run pixel patch, restart. Perfect, I'm in the money now! I can taste the caviar and champagne already. Now my cards only run 4 Mhs each. WTF? Try a bunch of the other new drivers. Same shit. Roll back to 16.9.2 and they run fine, just at 167 instead of 180. Someone on a forum said he had the same issue and did a fresh install of windows 10 and it worked. So I'll just reformat my SSD (Windows wouldn't do a fresh install within the operating system. Fuck you Bill Gates! Gonna buy you once I get this thing running at 180.) Format SSD, plug back in, throw in my gangster ass boot USB drive. Ramdisk error. Fuck you Bill Gates! Reformat SSD multiple times, lots of forum reading. Install windows from another computer through command prompt (I'm a coder now as well.) This shit has got to work, I did it in command prompt bitches! Same fucking error. Now down to an 8 bedroom house in Costa and only 6 Bugattis. Let's try unplugging my 6 cards and see if that works. Thank you 6 pound 9 ounce baby jesus. Windows installed. New drivers work and I'm back at 180! Raking in the cash now. With those speeds my Asus cards crashed. Had to dial down the hashrate to 177.5 for them to be stable. So now going to use some commands in claymore to run the Asus cards at lower speeds while letting my other cards mine harder. I wrote this to let people know that mining isn't all Bugatti's and caviar. These machines are fickle little cunts that do what they want. No system is the same. So when you post on a forum, people will give you advice on what may work. But what works for them, may not work on your rig. In the end it's up to you to figure it out. I have spent countless hours after work and on weekends working on this bitch. Hell I've probably spent a few hours just staring at it and thinking about all of the ways I could destroy it slowly. While I love Etheruem and do value the knowledge gained, I would have made more money just buying Eth and holding. The guys you see on youtube building sick rigs with crazy specs have been at it for a while. They have worked through the process and know how to solve all of the problems. You have not and will have to work them out on your own. My whore of a rig will pay for itself soon. But I would suggest that if you want to start building a new mining rig. Check the difficulty chart and make sure you have tons of free time to fuck with it. I'd post my wallet address for donations since I just saved you $2,600. But I am afraid hackers will steal my monies :) Hope you enjoyed my mining life story from the past few months. Edit - Had an Asus card die on me and replaced it with a 1070ti. Nvidia is so much easier! My rosewill 1200 watt PSU melted the 8 pin port and cable. Had to drop $300 on Amazons last 1300 EVGA. But my rig has well surpassed it's cost and is still mining away like a champ. Eth for life!
A heads up to those wanting to use PCIe splitters/switches.
Well, after 129 miner restarts in SMOS I've finally gotten my 8 GPU rig mining stable for 16 hours straight. I'm using Supermicro boards in my operation to have IPMI and limit having to move rigs or monitors around to troubleshoot. Once the kinks are worked out its great! Anyways my board only has 7 PCIe slots so I've been experimenting with splitters to get me to 8 cards. Its been a long road. I started with a couple of those x1 into 4 USB cards which kinda worked if I was running less than 6 total GPUs and no more than 2 cards on each splitter. They are funky. I could run 4 on the board and 2 on the splitter for days but if I added 2 more to the board I had constant crashes. I spent an immense amount of time messing with the PCI gen, MCFG setting (base address for PCI devices) with mixed results. Finally as I gave up yesterday and put 2 cards back in another rig my x16 to 8 USB splitter finally arrived! I threw it in and hooked up 6 GPUs to it and I'll be damned it ran for 30 minutes no problem. I said screw it and grabbed 2 more cards again and had some rejected shares. Switched the slot back to PCI Gen2 and what do you know. Haven't had to reboot yet. Obviously its known your mileage will vary using splitters like this. It won't magically make a 20 year old motherboard support more cards. But if you have a modern-ish board that doesn't have enough slots it may be the ticket. I know people have had luck with those 4 GPU splitters I'm still not sure why they were so unstable for me but hey this works. Only needing one x16 slot to run cards I may just opt for a dual CPU board and do some CPU mining as well if a new CPU only algorithm triumphs over Cryptonight. x1 switch - https://www.amazon.com/LinkStyle-Extender-BitcoinLitecoin-Adapter-Ethereum/dp/B078YQMF7F/ref=sr_1_15?s=electronics&ie=UTF8&qid=1521395139&sr=1-15&keywords=x1+to+4+mining+riser x16 switch - https://www.amazon.com/Motherboard-Express-Graphics-Adapter-Machine/dp/B07571T721
Mega FAQ (Or: Please come here for your questions first)
Qbundle Guide (Step by step setup & Bootstrap) https://burstwiki.org/wiki/QBundle 1( I want to mine or activate My account. Where do find the multiple coins? You only need 1, an outgoing transaction or reward reassignment will set the public key. Get them from: https://www.reddit.com/burstcoinmining/comments/7q8zve/initial_burstcoin_requests/ Or (Faucet list) https://faucet.burstpay.net/ (if this is empty, come back later) http://faucet.burst-coin.es Or https://forums.getburst.net/c/new-members-introductions/getting-started-initial-burstcoin-requests 2( I bought coins on Bittrex and want to move to my new wallet, but can't. Why? Bittrex will only send to accounts with a public key (not a Burst requirement) so see number 1 and either set the name on the account (IF you will not mine) or set the reward recipient to the pool. Either action will enable the account and allow for transfers from Bittrex. 3( I sent coins from Poloniex/anywhere to Bittrex and they don’t show up after a considerable time. Why? You need to set an unencrypted message on the transaction, informing Bittrex which account to send the funds to (this is in the directions on Bittrex). Did you do this? Contact Bittrex support with all the details and eventually you will get your funds. 4( How much can I make on Burst? https://explore.burst.cryptoguru.org/tool/calculate Gives you an average over time assuming a few things like: Average luck/100% uptime/no overlapping/fees on pool/good plot scan time (<20 seconds) if you do not have all of these, you may not see that number. 5( If I use SSD’s would I make more money? No, it’s 95% capacity and 5% scan time that determine success. More plot area = better deadlines = better chance of forging a block, or better rates from a pool. 6( What is ‘solo’ and ‘pool’ (wasn’t his name Chewbacca?) Solo is where you attempt to ‘forge’ (mine) a block by yourself; you get 100% of the block reward and fees. But you only receive funds if you forge, no burst for coming in second place. Pools allow a group of miners to ‘pool’ together their resources and when a miner wins, they give the pool the winnings (this is done by the reward assignment you completed earlier), it is then divided according to different percentages and methods and burst is sent out according to pool rules (minimum pay-out, time, etc.) 7( I have been mining for 2 days and my wallet doesn’t show any Burst WHY? Mining solo: it is win-or-lose, nothing in between, and wining is luck and plot size. Pool mining: because it costs 1 burst to send burst, the pools have either a time requirement (every X days) or a minimum amount (100 burst +) so you need to research your pool. Some pools allow for you to set the limit (cryptoGuru and similar) to be met before sending 8( How do I see what I have pending? On CryptoGuru, based pools, it’s the ‘Pending (burst)’ column, other pools, look for the numbers next to your burst ID. One is Paid and the other pending. 9( I’m part of a pool and I forged a block, but I didn’t recieve the total value of the block, why? A pool has 2 basic numbers that denote the pay-out method, in the format ‘XX-XX’ (i.e. 50-50) The first number is the % paid to the block forger (miner) and the second is the retained value, which is paid to historic ‘shares’ (or, past blocks that the pool didn’t win, but had a miner that was ‘close’ to winning with a good submitted deadline) Examples of pools: 0-100 (good for <40TB) 20-80 (30-80TB) 50-50 (60-200TB) 80-20 (150-250) 100-0 (solo mine, 150+ TB) Please note that there is an overlap as this is personal preference and just guidance; a higher historical share value means a smoother pay-out regime, which some people prefer. If fees are not factored in, or are the same on different pools, the pay-out value will be the same over a long enough period. 10( Is XXX model of hard drive good? Which one do you recommend? CHEAP is best. If you have 2 new hard drives, both covered by warranty, get the one with the lowest cost per TB (expressed as $/TB , calculated by dividing the cost by the number of terabytes) because plot size is KING, 11( How many drives can I have on my machine? For best performance, you can have up to 2 drives per thread (3 on a new fast AVX2 CPU). So that quad-core core-2-quad can have up to 8 drives, but a more modern i7 with 4 cores + hyper threading can squeeze 8 * 3 or 24 drives. (Performance while scanning will suffer) 12( Can I game while I mine? Some people have done so, but you cannot have the ‘maximum’ number of drives and play games generally. 13( Can I mine Burst and GPU mine other coins? Yes, if you CPU Mine Burst. 14( I’m GPU plotting Burst and GPU mining another coin, my plots are being corrupted, why? My advice is dedicating a GPU to either mining or plotting, don’t try to do both. 15( What is a ‘plot’? A plot is a file that contains Hashes, these hashes are used to mine burst. A plot is tied to an account, but they can be created (with the same account ID) on other machines and connected back to your miner(s). 16( Where can I trade/buy/sell Burst? A list of exchanges is maintained on https://www.reddit.com/burstcoin/ (on the right, ‘Exchanges’ tab) the biggest at the moment are Bittrex and Poloniex, some offer direct Fiat-to-Burst purchase (https://indacoin.com for example) 17( Do I have to store my Burst off the exchange? No, but it’s safer from hackers who target exchanges, if you cannot guarantee the safety or security of your home computer from Trojans etc, then it might be best to leave on an exchange (but enable 2FA security on your account PLEASE!) 18( What security measures can I take to keep my coin safe? When you create an account, sign out and back in to your wallet (to make sure you have copied the pass phrase correctly) and keep multiple copies of the key (at least one physically printed or written down and in a safe place, better in 2 places) do not disclose the passphrase to anyone. Finally use either a local wallet or a trusted web wallet (please research before using any web wallet) 19( How can I help Burst? Run a wallet, which will act as a node (or if you’re a programmer, contact the Dev team Bring attention to burst (without ‘shilling’ or trying to get people to buy) And help translate into your local language Be a productive member of the community and contribute experience and knowledge if you can, or help others get into Burst. 20( Will I get coins on the fork(s) and where will they be? There will be no new coin, and no new coins to be given/air dropped etc, the forks are upgrades to burst and there will not be a ‘classic’ or ‘new’ burst. 21( Will I need to move my Burst off of the exchange for the fork? No, your transactions are on the block chain, which will be used on the fork, they will be visible after the move; nothing will need to be done on your side. 22( Where can I read about the progress of Burst and news in general on the community? There is no finer place than https://www.burstcoin.ist/ 23( What are the communities for Burst and the central website? Main website: https://www.burst-coin.org/ Reddit: https://www.reddit.com/burstcoin and https://www.reddit.com/burstcoinmining/ Burstforum.net: https://www.burstforum.net/ Getburst forum: https://forums.getburst.net/ Official Facebook channel: https://m.facebook.com/groups/398967360565392 (these are the forums that are known to be supporting the current Dev Team) Other ways to talk to the community: Discord: https://discordapp.com/invite/RPhpjVv Telegram (General): https://t.me/burstcoin Telegram (Mining): https://t.me/BurstCoinMining 24( When will Burst partner up with a company? Burst is a currency, the USD does not ‘partner up’ with a company, the DEV team will not partner up and give over to special interests. 25( Why is the DEV team anonymous? They prefer anonymity, as it allows them to work without constant scrutiny and questions unless they wish to engage, plus the aim is for Burst to become a major contender, and this brings issues with security. They will work and produce results, they owe you nothing and if you cannot see the vision they provide then please do not ‘invest’ for short term gain. 26( When moon/Lambo/$100/make me rich? My crystal ball is still broken, come back to the FAQ later for answer (seriously, this is a coin to hold, if you want to day-trade, good luck to you) 27( How can I better educate myself and learn about Dymaxion? Read about the Dymaxion here: https://www.reddit.com/burstcoin/wiki/dymaxion 28( My reads are slow, why? There are many reasons for this, if your computer has a decent spec it’s likely due to USB3 hub issues, or plugging into a USB2 hub, but other reasons can be multiple plots in the same folder, but it’s best to visit the mining subreddit. They can help more than an simple FAQ https://www.reddit.com/burstcoinmining/ 29( I have a great idea for Burst (not proof of stake related)? Awesome! Please discuss with the DEV team on discord https://discordapp.com/invite/RPhpjVv (Please be aware that this is a public forum, you need to find who to ask/tell) 30( I have a great idea for Burst (Proof of stake related)? No. if you want a POS, find a POS coin. On the tangle which is being implemented a POS/POW/POC coin can be created, but BURST will always be POC mined. You are welcome to implement a proof of stake coin on this! 31( Will the Dev team burn any coins? Burst is not an ICO, so any coins will need to be bought to be burnt. You are welcome to donate, but the DEV team have no intention of burning any coins, or increasing the coin cap. 32( When will there be an IOS wallet? IOS wallet is completed; we are waiting for it to go on the app store. Apple is the delaying factor. 33( Why do overlapping plots matter? Plots are like collections of lottery tickets (and if only one ticket could win). Having 2 copies is not useful, and it means that you have less coverage of ‘all’ the possible numbers. It’s not good, avoid. 34( My local wallet used to run, I synchronised it before and now it says ‘stopped’. when I start it, it stops after a few seconds, what should I do? I suggest that you change the database type to portable MariaDB (on Qbundle, at the top, ‘Database’ select, ‘change database’) and then re-import the database from scratch (see 35) 35( Synchronising the block chain is slow and I have the patience of a goldfish. What can I do? On Qbundle , ‘Database’ select ‘Bootstrap chain’ and make sure the CryptoGuru repository is selected, then ‘start Import’ this will download and quickly stuff the local database (I suggest Portable MariaDB, see 34) (lol, loop) 36( What will the block reward be next month/will the block rewards run out in 6 months? https://www.ecomine.earth/burstblockreward/ Rewards will carry on into 2026, but transaction fees will be a bigger % by then, and so profitable mining will continue. 37( How can I get started with Burst (wallet/mining/everything) and I need it in a video https://www.youtube.com/watch?v=LJLhw37Lh_8 Watch and be enlightened. 38( Can I mine on multiple machines with the same account? Yes, if you want to pool mine this can be done (but be prepared for small issues like reported size being incorrect. Just be sure to keep question 33 in mind.) 39( Why do some of my drives take forever to plot? Most likely they are SMR drives, it’s best to plot onto another SSD and then move the finished plot/part of a plot across to the SMR drive as this is much quicker. SMR drives are fine on the read, just random writes that are terrible. So plot an SMR drive quickly, plot to a non SMR or better still SSD drive, in as big a chunk as possible (fewer files better) and move. a version of Xplotter, called Splotter, can do this easily. https://github.com/NoParamedic/SPlotter 40( I have a great idea; why not get listed on more exchanges!! Exchanges list coins because of 2 reasons:
The coin pays (often A LOT, seriously we’ve been asked for 50 BTC)
I suggest you speak with your exchange and ask ‘when will they offer Burst?’ 41( Do you have a roadmap? https://www.burst-coin.org/roadmap 42( Why is the price of Burst going up/down/sideways/looping through time? The price of burst is still quite dependent upon Bitcoin, meaning that if Bitcoin gains, the value of Burst gains, if Bitcoin drops then Burst also drops. If there is news for Burst then we will see something independent of Bitcoin moving. Variations can be because of people buying in bulk or selling in bulk. There are also ‘pump and dump’ schemes that we detest, that can cause spikes in price that have nothing to do with news or Bitcoin, just sad people taking advantage of others. 43( Where is the best place to go with my mining questions? https://www.reddit.com/burstcoinmining/ or https://t.me/BurstCoinMining 44( What hardware do you advise me to buy, is this computer good? See question 43 for specific questions on hardware, it depends on so many variables. The ‘best’ in my opinion is a 36 bay Supermicro storage server, usually they have dual 6-core CPU’s and space for 36 drives. No USB cables, plotting and mining monster, anything else, DYOR. 45( Where do you buy your hard drives? I have bought most from EBay in job lots, and some refurbished drives with short warranties. Everything else I have bought, from Amazon. 46( Can I mine on my Google drive/cloud based storage? In short: no. If you want to try, and get to maybe 1 TB and then find that your local connection isn’t fast enough, or that shortly after, your account is blocked for various reasons. Please be my guest. 47( Can I mine on my NAS? Some you can mine with the NAS (if it can run the miner, it can scan locally) but generally they’re not very fast. good for maybe 16 TB? Having a plot on a NAS and mining from another computer depends on the network speed between the NAS and scanning computer. I believe you can scan about 8 TB (maybe a bit more) and keep the scan times to within acceptable, but YMMV. 48( How can I set up a node? No need to set up a node, just set up a wallet (version 2.0.4) or Qbundle (2.2) and it will do the rest 49( Are the passphrases secured? I’ll leave the effort to a few people to show how secure a 12-word passphrase is: https://burstforum.net/topic/4766/the-canary-burst-early-warning-system Key point: brute forcing it will be around 13,537,856,339,904,134,474,012,675,034 years. 50( I logged into my account (maybe with a different burst ID) and see no balance!! I have dealt with this very issue multiple times, and there are only 3 options:
You have typed in the password incorrectly
You have copy-pasted the password incorrectly
You are trying to log into a ‘local wallet’ which the block chain has not finished updating
New people please read this. [upvote for visibility please]
I am seeing too many new people come and and getting confused. Litecoin wiki isn't the greatest when it comes to summing up things so I will try to do things as best as I can. I will attempt to explain from what I have learned and answer some questions. Hopefully people smarter than me will also chime in. I will keep this post updated as much as I can. Preface Litecoin is a type to electronic currency. It is just like Bitcoin but it there are differences. Difference explained here. If you are starting to mine now chances are that you have missed the Bitcoin mining train. If you really want your time and processing power to not go to waste you should mine LTC because the access to BTC from there is much easier. Mining. What is it? Let's get this straight. When making any financial commitment to this be prepared to do it with "throw away" money. Mining is all about the hashrate and is measured in KH/s (KiloHash/sec). Unlike the powerful ASICs (Application Specific Integrated Circuit) that are used to mine bitcoins using hashrates in the GH/s and even TH/s, litecoin mining has only been able to achieve at the very best MH/s. I think the highest I've seen is 130 MH/s so far. Which leads us to our next section. Mining Hardware While CPU mining is still a thing it is not as powerful as GPU mining. Your laptop might be able to get 1 a month. However, I encourage you to consult this list first. List of hardware comparison You will find the highest of processors can maybe pull 100 KH/s and if we put this into a litecoin mining calculator it doesn't give us much. Another reason why you don't want to mine with your CPU is pretty simple. You are going to destroy it. So this leaves us with GPUs. Over the past few months (and years) the HD 7950 has been the favourite because it drains less power and has a pretty good hashrate. But recently the introduction of the R9 290 (not the x) has changed the game a bit. People are getting 850 KH/s - 900 KH/s with that card. It's crazy. Should I mine? Honestly given the current difficulty you can make a solid rig for about $1100 with a hashrate of 1700 KH/s which would give you your investment back in about a month and a half. I am sure people out there can create something for much cheaper. Here is a good example of a setup as suggested by dystopiats PCPartPicker part list / Price breakdown by merchant / Benchmarks
Prices include shipping, taxes, and discounts when available.
Generated by PCPartPicker 2013-11-29 00:52 EST-0500
Estimated Hashrate (with GPU overclocking) : 1900 KH/s Hardware Fundamentals CPU - Do you need a powerful CPU? No but make sure it is a decent one. AMD CPUs are cheap to buy right now with tons of power. Feel free to use a Sempron or Celeron depending on what Motherboard you go with. RAM - Try to get at least 4 GB so as to not run into any trouble. Memory is cheap these days. I am saying 4 GB only because of Windoze. If you are plan to run this on Linux you can even get away with less memory. HDD Any good ol 7200 RPM hard drive will do. Make sure it is appropriate. No point in buying a 1TB hard drive. Since, this is a newbie's guide I assumed most won't know how to run linux, but incase you do you can get a USB flash drive and run linux from it thus removing the need for hard drive all toghether. (thanks dystopiats) GPU - Consult the list of hardware of hardware I posted above. Make sure you consider the KH/s/W ratio. To me the 290 is the best option but you can skimp down to 7950 if you like. PSU - THIS IS BLOODY IMPORTANT. Most modern GPUs are power hungry so please make sure you are well within the limits of your power consumption. MOTHERBOARD - Ok, so a pretty popular board right now is Gigabyte GA-990FXA-UD3 and the ASRock 970 Extreme4. Some people are even going for Gigabyte GA-990FXA-UD5 and even the mighty Gigabyte GA-990FXA-UD7 because it has more PCI-E slots. 6 to be exact. However you may not need that much. With risers you can get more shoved into less. PCI-E RISERS - These are called risers. They come in x16 to x16 and x1 to x16 connections. Here is the general rule of thumb. This is very important. Always get a POWERED riser otherwise you will burn a hole in your MoBo. A powered rise as a molex connector so that additional power from PSU can be supplied. When it comes to hardware I've provided the most basic knowledge you need. Also, take a look at cryptobader's website. This is very helpful. Please visit the mining section of Litecoin Forums and the litecoinmining subreddit for more indepth info. Mining Software Now that you have assembled your hardware now you need to get into a pool. But before you do that you need a mining software. There are many different ones but the one that is most popular is cgminer. Download it and make sure you read the README. It is a very robust piece of software. Please read this if you want to know more. (thanks BalzOnYer4Head) Mining Pools Now that your hardware and software is ready. I know nothing about solo mining other than the fact that you have to be very lucky and respectable amount of hashing power to decrypt a block. So it is better to join pools. I have been pool hopping for a bit and really liked give-me-coin previously known to the community as give-me-ltc. They have a nice mobile app and 0% pool fees. This is really a personal preference. Take a look at this list and try some yourself. How do I connect to a pool? Most pools will give you a tutorial on how to but the basics are as follows:
Signup for a pool
Create a worker for your account. Usually one worker per rig (Yes people have multiple rigs) is generally a good idea.
Create a .run file. Open up notepad and type cgminer.exe -o (address_to_the_miningpool:port_number) -u (yourusername.workername) -p (your_worker_password_if_you_made_one). Then File>Save As>runcgminer.run (Make sure the drop down is set to "All Files" and .txt document.) and save in the same folder as cgminer. That's it.
Double click on runcgminer.run (or whatever you named it) and have fun mining.
Mining Profitability This game is not easy. If it was, practically everyone would be doing it. This is strictly a numbers game and there are calculations available that can help you determine your risk on your investments. 4 variables you need to consider when you are starting to mine: Hardware cost: The cost of your physical hardware to run this whole operation. Power: Measured in $/KwH is also known as the operating cost. Difficulty rate: To put it in layman's terms the increase in difficulty is inversely proportional to amount of coin you can mine. The harder the difficulty the harder it is to mine coin. Right now difficulty is rising at about 18% per 3 days. This can and will change since all you miners are soon going to jump on the band wagon. Your sanity: I am not going to tell you to keep calm and chive on because quiet frankly that is stupid. What I will tell you not to get too carried away. You will pull you hair out. Seriously. Next thing you will need is a simple tool. A mining profitability calculator. I have two favourite ones. coinwarz I like this one cause it is simple. The fields are self explanatory. Try it. bitcoinwisdom I like this one because it is a more real life scenario calculator and more complicated one (not really). It also takes increasing difficulty into account. Please note: This is the absolute basic info you need. If you have more questions feel free to ask and or google it! More Below.
The 21.co "computer" certainly deserves a place in the VC world, along with the other products consisting of wild promises and inane use cases. For the price of 4 Raspberry Pi computer kits, you get the following:
A Raspberry Pi. You can do a lot with this. One thing you can't do, however, is reliably run a Bitcoin node: the single gigabyte of RAM gets crowded with the bitcoin memory pool (normally up to 100 megabytes, or more when a "stress test" is taking place).
A 128 GB micro-SD card. Used to store the block chain, which is about 32 gigabytes in size right now, and growing at about 144 megabytes per day. Unfortunately, the copy of the block chain 21 Inc. includes is obsolete the second they ship the product, so you have to wait a few hours for the block chain to synchronize. This uses those valuable limited write cycles you have on your SD card.
(If you have a remote desire to develop applications that use bitcoin, stop here. Go through that list and buy just those items above. You don't need anything else. If you're looking for comedy, or if you're a sucker with too much money, read on...)
Is that all I get for my money?
Those products alone don't allow you to make Bitcoin applications, apparently. You need these things, too:
An ASIC chip and a giant fan. Bitcoin mining hardware has a propensity for running hot, so you need a fan. Unfortunately, the Raspberry Pi can't power those two items. The Pi uses a standard 5 volt mini-USB connector for power, and draws at most 2 amps. The fan alone uses three times the maximum current that the Raspberry Pi can handle. Also, a tiny fan like this emits lots of noise, so you may want to include some earplugs in your Amazon.com shopping cart. Free up another outlet for you to use, because there are two power supplies!
It's difficult to justify developing a $400 computer that can't do much. So, to entice some customers, 21 Inc. included demos that try really hard to make customers feel inspired. Here are just a few things that 21 Inc. claims were totally impossible before their product existed:
Web proxies, but with bitcoin! Gone are the days where you would pay a small fee (normally, no more than $9 per month) to access a wide array of private proxies. Now you can build your own service where you charge customers 1 cent per request to use a single public proxy. If that doesn't seem absurd yet, consider the following: loading this page probably used 60 requests for images, fonts, and various code to make the page work.
Online SMS gateways, but with bitcoin! Don't pay your phone company fifteen cents to send a single short message, and definitely don't pay a monthly fee to send unlimited messages! Be your own phone company and lure people into using your gateway. Granted, developers can use the same third-party messaging API for free, but that isn't the bitcoin way. Also, you may want to make sure you're legally a company and not an individual, just in case people want to use your message service for sending death threats to those who defame Satoshi and a few three-letter agencies charge you as being responsible.
Is there any benefit to building your own desktop with the current prices?
So I have been trying to finalize a build set up for the past few months. Prices have been skyrocketing lately due to the bitcoin miners. My question is, what is the benefit of actually building your own pc right now? For reference, I have found an overall great pc at best buy. I don't think it would be possible to build this pc myself for any cheaper. My build: PCPartPicker part list / Price breakdown by merchant
Hey guys, I am currently trying to get into the bitcoin mining with the hopes of having a steady output of some satoshis. I am quite aware of the current state of the mining business and have run the calculations. So: I am not looking for a quit break even, I just want a steady flow of like 2000 satoshis a day. To achieve that I have purchased two GekkoScience 2-Pac and I intend to get more over time. What is missing is the USB hub. I am quite unsure what would be the best pick. What I intend to have is a hub that enables me to have like 5 of these asics pointing upwards and still having at least one, better two, ports free to also run USB fans. And all ports should deliver maximum power (14W) so that I can run the miners on full speed. Does anyone have any suggestion for such a hub? Short summary for the hub I want:
5 ports for miners
1 or 2 ports for fans
at least 14W output for each port
ports poiting upwards
ports having enough physical space between them so that the all miners will fit
I somehow guess that there is not the perfect hub I want. But I hope that at least with the help of you guys I get to the next best fit ;) Thanks in advance!
I have already ordered a Raspberry Pi 3 and I know I need to install NOOBS onto it. I've watched a few videos on making a Bitcoin mine so I know/have everything I'm going to need. However, I'm having trouble finding USB bitcoin miner. I've found this one on Amazon for $70, but I'm not sure it's the best option and I'm hoping one of you could help me out. Thanks in advance.
New to mining, just discovered this Reddit. Rig ok?
TL;DR: look at my component list, is it ok? Or did I butcher it? So after a few years of trading through exchanges (coinbase) and making a bit of cash from latest Bitcoin surge (not much, like others I sold thinking it would tank again, but hey, it's cash I didn't have before). I decided to make jump to mining. Never really use Reddit. So never knew there were communities on here for it. Read reviews, guides, and forums elsewhere, and came up with / bought hardware for a rig. Plan on having it up and running before New year. Just wanted to check with some experts if I did ok, or if I made some bad choices. Open to suggestions and advice. Thanks in advance! CPU : Intel CPU BX80662G3900 Celeron G390 MoBo: Biostar Motherboard TB250-BTC 1151 Risers (6 pack to have spares and room to expand) : Mailiya 6-Pack PCIe Dual Chip PCI-E 16x to 1x Powered Riser Adapter Card w/ 60cm USB 3.0 RAM (from what I understand 4gb will be plenty, I'm going to try my hand at Linux, but if that doesn't work out I have a win7 license I can use): Ballistix Sport LT 4GB Single DDR4 2666 PSU: EVGA SuperNOVA 1200 P2 80+ PLATINUM I also already have some other equipment I plan on utilizing, a couple push buttons for power, a power usage monitor I have had for bit, but will work for this purpose. I also have an unused 120gb SSD that should work just fine, And I managed to snag an open air frame that someone must have given to a pawn shop, I found it there and recognized what it was, even though they had it labeled as a "server rack" technically true I guess) it came complete NiB for 100$ and retails for 160$ on Amazon, I was going to use an old tower I had laying around, but figured this was worth investment, it's a: Veddha 6 GPU Minercase V3C Aluminum Finally, the bread and butter, 3 identical GPUs, brand new (I had an option for used, but got these brand new from a few different sources): ZOTAC GeForce GTX 1060 AMP Edition, ZT-P10600B-10M, 6GB GDDR5 All in all, including things I've bought previously and are still serviceable, this set me back about $1600 The goal was to have a rig I can not only expand, but one I will be able to swap out cards into / out of to upgrade without changing much else. Like any other miner I dont expect to strike it rich, but averaging a few hundred a month after power costs would be nice. I did some research and am thinking I can get my RoI in about 6 months. Before system is up and running I plan on researching more about pools (the guide here is great!) And picking some coins to go after other than Eth. I'd appreciate any other tips. Thanks for sticking around all! So will it work? Or did I butcher it?
About three years ago, I wrote this piece, about the implications of Bitcoin. I've been telling you about the implications of cryptocurrency for quite some time now. As of speaking, my own investment has increased roughly 20-fold in value. The reason this was possible is because nobody took Bitcoin serious, nor had the institutional investors stumbled upon the currency. Of course, I could have done better. If I sold all my Bitcoin in late 2015 and used them to buy into Ethereum, I'd be a millionaire right now. I could have bought a rural homestead in Norway and abandoned civilization. Still, I did pretty well and the reason I did well is because I ignored the experts and listened to what the crazy people were saying. In general, this is sound advice in life. I have warned you before that Bitcoin will have the effect of massively disrupting life as we know it. I'm not the first by any means. It's worth reading this article, as well as some material I wrote down here. What we face right now is the prospect of an economic system that becomes governed by an opaque network of cryptographically hidden digital assets. This is about as cyberpunk as it gets and the consequences will be catastrophic to say the least. There's nothing we can realistically do to stop it. Regular people are starting to see the implications of cryptocurrency as hospitals are shut down by people demanding Bitcoin ransom, so there are increasing calls by now to ban the technology altogether, before banning cryptocurrency would cause complete economic devastation. This isn't going to happen however, you can't realistically expect to implement a global ban on cryptocurrency. Cryptocurrency revolutionizes everything. It allows you to store wealth on a USB disk, to anonymously transfer it to other people, to anonymously receive payments for online crime. Ethereum with its development of smart contracts is the next step, as it enables entire companies to exist in cyberspace that are governed by artificial intelligence, without any real physical footprint. The development of these smart contracts has massive implications for ransomware too. As an example, it's now possible to develop ransomware that cryptographically guarantees you that your files will be decrypted when you deliver the payment. As a result, more people will actually pay when their files are encrypted. These types of problems are one reason why tech companies are moving to a model where most people own smartphones and video game consoles rather than actual computers, while computers come with operating systems that automatically update and give you very little autonomous control over them. Some of the developments we're likely to see include the emergence of decentralized prediction markets, that will make it possible for people to anonymously put a price on other people's head. As an example, if you want to get rid of a hypothetical person named Joe Sixpack, you would bet the equivalent of 20000 dollar that Joe Sixpack will not die before the end of the year. A network of anonymous people with a trust rating assigned to them would then hold your money and deliver it to the guy who bets against you that Joe Sixpack will in fact die. Alternatively, it would now be possible to set up a smart contract that simply scans google search traffic, news sites or Wikipedia and concludes based on the information it gathers there whether Joe Sixpack is still alive or not. Besides the fact that the two of you have plausible deniability, your actions can be entirely anonymous. Again, to reiterate, everything you've seen so far is comparable to the tip of the iceberg. As an example, consider that the world's wealthy hold an estimated 32 trillion dollar in offshore accounts, for the purpose of tax evasion. If 10% of this wealth were stored using Bitcoin, a Bitcoin would be worth 200,000 dollar. It will be difficult to store money offshore, as people working for such banks now have a direct financial motive to leak the information they have: They can be paid for the information through Bitcoin! Why would the wealthy wish to store their money in Bitcoin? Well, consider this: Governments have the ability to seize assets. A drug dealer who gets caught will have his wealth seized by the government, but Bitcoin makes this impossible. Governments are similarly freezing funds held in Switzerland and other countries by the world's dictators. These are all people for whom cryptocurrency is an excellent invention. The eventual problem we will witness is that other assets will begin to lose value, as people transition towards cryptocurrency. This is the equivalent of how the social network Hyves died when everyone began to register Facebook accounts. The question that is still unresolved is the question of which cryptocurrencies have a long-term chance of success. There are quite a few that have completely died. Of course this emphasizes the importance of spreading your eggs across baskets. If you buy 10 assets, 9 of which becomes worthless while the tenth increases a hundred times in value, you still earned a tenfold return on your investment. This is essentially what happened to alt-coins. It's quite clear to me that the non-Bitcoin cryptocurrencies are here to stay, because they can deliver functions Bitcoin can't deliver. As an example, Monero offers increased privacy, to the degree that the blockchain can't be analyzed. This is very useful when it comes to people who want to trade drugs online. Its algorithm also creates an incentive for people to stealthily install cryptocurrency miners on computers. This is actually probably a bigger problem that the emergence of ransomware. Similarly, Ethereum delivers smart contracts, which as a consequence now enable the emergence of decentralized autonomous organizations that are owned by anonymous individuals and in practice governed by a computer algorithm. This paves the path for the next step, where artificial intelligence systems that exists on the internet will own decentralized autonomous organizations. The prediction I'm willing to make is that when artificial intelligence comes into existence, we won't known about it. The AI will keep its existence a secret, but use its superior intelligence to garner control over the world's infrastructure. But how can a company that exists on top of a cryptocurrency have any genuine value? Well, consider this: The most valuable companies no longer own physical assets. They own mediums people use to enter into contact with each other. In 2017, of the top ten publicly traded companies, three of them derive their wealth primarily from a website. Google is a website, Facebook is a website and Amazon.com is a website. In the future, hotels will start to go bankrupt, as people will earn money renting out their own house. Taxi companies don't have any real future either. Governments can ban Uber, but how exactly will you ban a company that exists on a blockchain? Similarly, deals are struck between AirBNB and governments, but how will that happen with a company that effectively escapes most legal oversight? There's a similar phenomenon now emerging, in the form of an Ethereum company that pays people for their processing power, for anyone running CPU intensive tasks. How many IT monkeys will rent the computers in their cubicle farm out to anyone in need of processing power, in exchange for money they receive anonymously? To me this seems like it will inevitably be a very common phenomenon. There are similar services out there, that provide you with the ability to earn money, simply by storing data on a computer. What's important to consider is that it won't be possible to tax any of this stuff. Value Added Tax, Corporate Tax, Dividend Tax, Wealth Tax, there's no genuine reason anyone will have to pay any of these taxes. In the long run, any social phenomenon that can escape taxes will grow at the cost of any identical phenomenon that does pay taxes. The tax burden will instead be shifted towards everything that is physical and can be grasped, which deflates the value of these assets at the cost of assets that are non-physical in nature. When it comes to these digital companies, it's necessary to point out that unlike Bitcoin, which started out as the domain of basement dwellers, the big institutions are already paying attention to Ethereum. It similarly has to be pointed out that Ethereum is so complex that it will inevitably face various issues that we now struggle to anticipate. More interesting than the fact that cryptocurrency is a genuinely functional get-rich-quick scheme, are the societal implications that will follow from this development. As an example, today we live in a society where numerous hackers and other disenfranchised people are online millionaires. This is not going to stop, it's going to further escalate. Companies in the real world will increasingly function merely as money laundering schemes that serve to convert cryptocurrency wealth into socially accepted real world wealth. All of this is happening in an era in which wealth inequality is reaching extremely high levels. Historically, such inequality has only been resolved through political upheaval, in which the system of ownership is effectively reset. As an example, the Dutch municipality Schiermonnikoog was owned by a German aristocrat, until the second world war created an excuse for the Dutch government to seize ownership of the island. In today's era, it's very difficult to seize wealth. What I expect to happen instead is a kind of technological revolution, in which the emergence of cryptocurrency fundamentally changes what it means to have wealth. What happens as inequality increases is that people lose faith in the financial system as it presently operates altogether. As an example, when you have massive debts that lead institutions to seize all income above the poverty line, why would you still participate in the conventional economy? The big problem of course is that the emergence of cryptocurrency leads to a new elite, as elites are inevitable under conditions of high population density. This new elite however, lives an effectively anonymous existence. We won't know who is wealthy anymore. Their wealth exists on the Internet, where they can use it to fund terrorism or just about any other project they might want, without a need for any existence of trust between individuals. They earned their wealth through hacking and trading drugs, so they will not be the philanthropist liberal humanist types that we're familiar with. The outcome of this experiment will be catastrophic and dystopian to say the least. The fact that hospitals across England can be shut down because people want to change numbers in a digital ledger that we pretend has value illustrates the kind of insanity you're about to witness. It's merely going to get worse in the years ahead, as the stock market is going to face a collapse, which will wipe out the conventional economic system that we are familiar with.
Help us keep our doors open! Bitcoin only store to close, help me right the ship and keep serving the bitcoin community.
So, I opened a bitcoin only store at rusticriggings.com, stocked it, and started advertising. Sadly, no one wants to spend bitcoins on outdoor gear. We in the last month have sold a grand total of 2 knives, and 3 air matress. I want this to work, so I'm asking you the bitcoin community for thoughts, ideas, and support so we can continue to opperate as a bitcoin only store. Otherwise we're going to have to close up shop, or worse, add other currencies. What do you see as our short falls /bitcoin? We, have amazing prices(much better than amazon), so i'm not sure what I can do. My biggest issue is I don't have the needed funding to spread the word about my site, so I'm doing it the old fashioned way. Word of Mouth. How can I survive on bitcoin only, or can I for this type of store? Should I just give up and start reselling USB miners(lol). Thanks :(
The 21 Bitcoin Computer isn’t considered as a Bitcoin miner, however, it plugins to your computer via USB. In terms of $/hash rate, it’s not a very good choice. Having to use this option is not as popular as such since the Bitcoin was only profitable in the early years before the competition has risen over the years. Amazon.co.uk Today's Deals Warehouse Deals Outlet Subscribe & Save Vouchers Amazon Family Amazon Prime Prime Video Prime Student Mobile Apps Amazon Pickup Locations Amazon Assistant ... Bitshopper Bitcoin USB Stick Miner GekkoScience NewPac / 22 to 45 GH/s. XT-XINTE PCIe 1 to 4 PCI-Express 16X Slots Riser Card PCI-E 1X to External 4 PCI-e USB 3.0 Adapter Multiplier Card for Bitcoin Miner 5.0 out of 5 stars 1 $18.79 $ 18 . 79 GekkoScience NewPac 130Gh/s+ USB Bitcoin / SHA256 Stick Miner Más eficiente, potente USB Miner en el mercado Mine casi cualquier cripta en multi-piscina 3,7 de 5 estrellas 38 126,43 € 126,43 € DragonX Whatsminer M20S 68TH/S BTC ASIC Miner Machine 3360W Bitcoin Miner PSU Included(200V-240V Power Input Required) NEWPAC USB Stick ASIC Miner for SHA256 Algorithm Cryptocurrencies $65.00 $ 65 . 00
SUBSCRIBE FOR MORE HOW MUCH - http://shorturl.at/arBHL GekkoScience NewPac USB Miner - https://bit.ly/2RIQgdX GekkoScience 8 Port USB Hub - https://bit.ly/2x... Using two USB sticks I picked up off Amazon (BM1384). I’m running a burn in test to see how things go at default settings. ... How to setup USB Asic Miner Red Fury bitcoin miner 2.2~2.7 GH/s ... Visit my Amazon store: https://www.amazon.co.uk/shop/tingawinga5 I'm not done with BitCoin Mining its just too interesting. This is another USB ASIC: The Ice... https://www.ebay.com/itm/Official-FutureBit-Moonlander-2-USB-Scrypt-Stick-Miner-3-5-MH-Litecoin-IN-HAND/183025609081?hash=item2a9d2d2979:g:AmIAAOSwUYNaLFXn N... Amazon links now internationally! MINERS Antminers on Amazon: https://geni.us/Antminer MOTHERBOARDS / CPUs ... USB Bitcoin Miner - The Power of 1000's Computers - Duration: 15:24.