Comparison of Bitcoin to Other Markets Shows Just How ...

Bitcoin Fullnode Install Guide for Dummies ;-)

Bitcoin Fullnode Install Guide for Dummies ;-)
Feel free to stop at Level 0 or Level 1, which is fine. More advanced configs are offered to those with more tech savvy. This guide, obviously assumes a Windows 10 install, but other OSes work fine, just find a different guide. BTW, the "For Dummies" is a callback to a set of "tech" books in the 90's intended to be as easy as possible. It is in jest and not intended to insult the reader. Finally, if you dislike the formatting, a well formatted copy can be found here
There is a fairly small subset of Bitcoin users that run a full node. I think the idea of running a full node has gotten a bad rap over the years since there is so much talk about running on a Raspberry Pi, or getting zippy SSDs. Although all of this can be fun, it is often not really required at all. Here are some ways to run a full node starting with the very simple. I'll get into more complex configs, but these are all optional.

Tech Skill Level: 0 (the basics)

  1. Download Bitcoin Core
  2. Launch the downloaded installer and install the app
  3. Launch the installed "Bitcoin Core" app and let it run overnight
In many cases, thats it. If your running a new machine with a fairly good internet connection, 8 or 9 hours will be enough to complete the "Initial Block Download" (IBD). This may fill up your drive a bit, but again, on most new machines, 300 GB of space isn't that hard to come by.

Tech Skill Level: 1 (encrypted wallet)

One thing we left out in the level-0 exercise is encrypting your wallet. It's easy enough to do well, but a bit more difficult to do right. The main challenge is that humans generate really poor passwords. If you want a good password, the best way is to use something called "diceware". Basically, you just grab 4 or 5 dice and each throw of the dice represents a certain word on a special list. The throw {1,4,5,3,1} for example would be the word camping on the EFF-diceware-wordlist. So you repeat this a few times until you have a list of 8 or so words which becomes the passphrase you use to encrypt your wallet. Write it down, it is always hard to remember at first. So at level-1 your list becomes:
  1. Download Bitcoin Core
  2. Launch the downloaded installer and install the app
  3. Launch the installed "Bitcoin Core" app and let it run overnight
  4. Choose Encrypt Wallet from the Settings menu
  5. Enter your 8 word (or so) passphrase generated using the Diceware method

Wallet Encryption Dialog

Tech Skill Level: 2 (enable pruning if needed)

Though I said "300 GB of space isn't hard to come by", some times it actually is. If space is an issue, a simple way to fix it is to tell bitcoin to simple take less space. This is called "pruning" and can take that number from 300 GB down to below 5 GB. If you can't find 5 GB, then you'll have to read ahead to level-4 to add USB storage. But the good news is, enabling pruning is pretty easy, we just add another step to our working list:
  1. Download Bitcoin Core
  2. Launch the downloaded installer and install the app
  3. Launch the installed "Bitcoin Core" app and let it run overnight
  4. Do the wallet encryption steps here if you wish
  5. Choose Options from the Settings menu
  6. Choose Prune block storage to: and select the max size for the blocks to use
  7. Exit and restart the bitcoin application for the changes to take effect

Pruning Dialog
Note, even setting this to 1 GB will still leave you with about a 4.5 GB install. The blocks take up a lot of space, but the chainstate and other folders eat up at least 3.5 GB and they can't be pruned. Also, be aware, to disable pruning requires you to perform the entire IBD again. While pruned some other functions my be disabled as well, so just know that pruning does limit some functionality.

Tech Skill Level: 3 (verify the installer)

Although this is arguably something that should be done at level-0, some find the intricacies of comparing hash (thumbprint) values to be tedious and beyond the scope of a beginner. You will find these types of hash compares suggested quite often as a way to prevent running tainted programs. Programs are often tainted by bad disk or network performance, but most often, taint is malicious code inserted by viruses or malware. This is a way to guard yourself against those types of attacks.
What I cover here is a very basic comparison on the certificate, but a more thorough verification advised by mosts uses a program called Gpg4Win, and is beyond the scope of this beginners guide. But regardless, most users should strive to do this minimum level of validation.
  1. Download Bitcoin Core
  2. Launch the downloaded installer
  3. When prompted "Do you want to allow..." click Show more details
  4. In the details section select Show information about the publisher's certificate
  5. In the certificate window select the Details tab
  6. In the Details tab Subject should start with "CN = Bitcoin Core Code Signing Association"
  7. Ensure Thumbprint in Details reads ea27d3cefb3eb715ed214176a5d027e01ba1ee86
  8. If the checks pass, click OK to exit the certificate window and Yes to allow the installer to run.
  9. Launch the installed "Bitcoin Core" app and let it run overnight
  10. Do the wallet encryption steps here if you wish
  11. Do the optional pruning steps here if you wish

Certification Validation Windows
Note: The certificate used to sign the current Bitcoin installer is only valid from March 2020 to March 2021. After that point the thumbprint on the certificate will change. This is by design and intentional. If your reading this post after March 2021, then it is understood that the thumbprint has changed.

Tech Skill Level: 4 (use secondary storage)

We glossed over the "new machine with fairly good internet" part. Truth be known many people do not have fairly new machines, and find the IBD to take longer than the "over night" best wishes. For most people the slowdown is the disk access when calculating what is called chainstate. This requires fast random reads and writes to the disk. If you have an SSD disk, this will be no problem, but if you have a non-SSD "spinning" disk, random writes are always slow. Though an SSD will speed things up, they are pricey, so a nice middle ground may be a simple high-end USB key drive. You can get some with 10 to 15 MB/s random writes for $20 on Amazon. This is usually a order of magnitude faster than a "spinning" disk. And with pruning (see level-2), a small USB drive should be fine.
Once you decide on a drive, the tricky part will be to enable external storage. It requires editing a configuration file and adding a line. First, we want to create a directory on the key drive. You will need to determine the drive letter of your USB key drive. For the sake of this example, we will assume it is D:, but you must determine this yourself and correct the example. Once you know the drive letter, create a blank folder on the drive called Bitcoin. So for this example, creating Bitcoin on drive D: will create the path D:\Bitcoin. Once done, assuming that D: is your drive, here are the new steps including the edit of the configuration file:
  1. Download Bitcoin Core
  2. Launch the installer, verify it, then run it
  3. Launch the installed "Bitcoin Core" app and let it run overnight
  4. Do the wallet encryption steps here if you wish
  5. Do the optional pruning steps here if you wish
  6. Launch "Notepad" by typing "Notepad.exe" in the windows search bar then click Open
  7. Type the line datadir=D:\Bitcoin (depending on your drive letter) in the blank file
  8. Choose Save from the File menu in notepad
  9. Type %APPDATA%\Bitcoin\bitcoin.conf (note the percent signs) in the File name box
  10. Select All Files from the Save as type dropdown
  11. Click the Save button and overwrite the file if prompted
  12. Exit and restart the bitcoin application for the changes to take effect

Save As Dialog
Now that you've reached this level of technical expertise, there are many new configuration options that you can begin to modify if you wish. Most configuration data is contained in the bitcoin.conf file and learning how to maintain it is a key step for a node operator.

Tech Skill Level: 5 (all other customizations)

Here's a short list of various things you can ADD to your bitcoin.conf file. You generally just add a new line for each configuration settings.
  • addresstype=bech32
  • changetype=bech32
The addresstype / changetype allows your wallet to use the native-segwit (bech32) format. This is the most efficient and inexpensive way to spend bitcoin, and is a recommended configuration. The default uses something called p2sh-segwit which is more compatible with older wallets, but more expensive to spend.
  • minrelaytxfee=0.00000011
Changing the minrelaytxfee setting allows you to help propagate lower fee transactions. It will require more memory but TXN memory is capped at 300 MB by default anyways, so if you have enough memory, it is a good setting to choose.
  • dbcache=2048
The dbcache setting controls how many MB of memory the program will use for the chainstate database. Since this is a key bottleneck in the IBD, setting this value high (2048 MB) will greatly speed up the IBD, assuming you have the memory to spare
  • blocksdir=C:\Bitcoin
  • datadir=D:\Bitcoin
In level-4 we discussed moving the datadir to a fast external storage, but the majority of the space used for bitcoin is the blocks directory (blocksdir). Although you should always use for fastest storage for datadir, you are free to use slow storage for blocksdir. So if you only want to consume a small amount of your SSD (assumed D:) then you can keep your blocks on your slow "spinning" drive.
  • upnp=1
One of the harder challenges you may face running a node, is to get incoming connections. If you are lucky, you may find that your firewall and network HW support the uPnP protocol. If they do, this setting will allow bitcoin to configure uPnP to allow incoming connections to your node. Other methods exist to make your node reachable, but they are well beyond the scope of this guide.
submitted by brianddk to Bitcoin [link] [comments]

Syscoin Platform’s Great Reddit Scaling Bake-off Proposal

Syscoin Platform’s Great Reddit Scaling Bake-off Proposal

https://preview.redd.it/rqt2dldyg8e51.jpg?width=1044&format=pjpg&auto=webp&s=777ae9d4fbbb54c3540682b72700fc4ba3de0a44
We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution!
Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality.
Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining.
This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.

Solutions

Syscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
  1. Distribution, burns and user-to-user transfers of Reddit Points are entirely carried out on the Syscoin network. This full-on approach to utilizing the Syscoin network provides the most scalability and transaction cost benefits of these scenarios. The tradeoff here is distribution and subscription handling likely migrating away from smart contracts into the application layer.
  2. The Reddit Community Points ecosystem can continue to use existing smart contracts as they are used today on the Ethereum mainchain. Users migrate a portion of their tokens to Syscoin, the scaling network, to gain much lower fees, scalability, and a proven base layer, without sacrificing sovereign ownership. They would use Syscoin for user-to-user transfers. Tips redeemable in ten seconds or less, a high-throughput relay network, and onchain settlement at a block target of 60 seconds.
  3. Integration between Matic Network and Syscoin Platform - similar to Syscoin’s current integration with Ethereum - will provide Reddit Community Points with EVM scalability (including the Memberships ERC777 operator) on the Matic side, and performant simple value transfers, robust decentralized security, and sovereign store-of-value on the Syscoin side. It’s “the best of both worlds”. The trade-off is more complex interoperability.

Syscoin + Matic Integration

Matic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both.
Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.

Proving Performance & Cost Savings

Our POC focuses on 100,000 on-chain settlements of token transfers on the Syscoin Core blockchain. Transfers and burns perform equally with Syscoin. For POCs related to smart contracts (subscriptions, etc), refer to the Matic Network proposal.
On-chain settlement of 100k transactions was accomplished within roughly twelve minutes, well-exceeding Reddit’s expectation of five days. This was performed using six full-nodes operating on compute-optimized AWS c4.2xlarge instances which were geographically distributed (Virginia, London, Sao Paulo Brazil, Oregon, Singapore, Germany). A higher quantity of settlements could be reached within the same time-frame with more broadcasting nodes involved, or using hosts with more resources for faster execution of the process.
Addresses used: 100,014
The demonstration was executed using this tool. The results can be seen in the following blocks:
612722: https://sys1.bcfn.ca/block/6d47796d043bb4c508d29123e6ae81b051f5e0aaef849f253c8f3a6942a022ce
612723: https://sys1.bcfn.ca/block/8e2077f743461b90f80b4bef502f564933a8e04de97972901f3d65cfadcf1faf
612724: https://sys1.bcfn.ca/block/205436d25b1b499fce44c29567c5c807beaca915b83cc9f3c35b0d76dbb11f6e
612725: https://sys1.bcfn.ca/block/776d1b1a0f90f655a6bbdf559ff5072459cbdc5682d7615ff4b78c00babdc237
612726: https://sys1.bcfn.ca/block/de4df0994253742a1ac8ac9eec8d2a8c8b0a6d72c53d6f3caa29bb6c171b0a6b
612727: https://sys1.bcfn.ca/block/e5e167c52a9decb313fbaadf49a5e34cb490f8084f642a850385476d4ef10d70
612728: https://sys1.bcfn.ca/block/ab64d989edc71890e7b5b8491c20e9a27520dc45a5f7c776d3dae79057f59fe7
612729: https://sys1.bcfn.ca/block/5e8b7ecd0e36f99d07e4ea6e135fc952bf7ec30164ab6f4d1e98b0f2d405df6d
612730: https://sys1.bcfn.ca/block/d395df3d31dde60bbb0bece6bd5b358297da878f0beb96be389e5f0e043580a3
It is important to note that this POC is not focused on Z-DAG. The performance of Z-DAG has been benchmarked within realistic network conditions: Whiteblock’s audit is publicly available. Network latency tests showed an average TPS around 15k with burst capacity up to 61k. Zero-latency control group exhibited ~150k TPS. Mainnet testing of the Z-DAG network is achievable and will require further coordination and additional resources.
Even further optimizations are expected in the upcoming Syscoin Core release which will implement a UTXO model for our token layer bringing further efficiency as well as open the door to additional scaling technology currently under research by our team and academic partners. At present our token layer is account-based, similar to Ethereum. Opt-in compliance structures will also be introduced soon which will offer some positive performance characteristics as well. It makes the most sense to implement these optimizations before performing another benchmark for Z-DAG, especially on the mainnet considering the resources required to stress-test this network.

Cost Savings

Total cost for these 100k transactions: $0.63 USD
See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing:
ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37)
Syscoin price: $0.11
Snapshot of live fee comparison chart
Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions.
Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.

Tools, Infrastructure & Documentation

Syscoin Bridge

Mainnet Demonstration of Syscoin Bridge with the Basic Attention Token ERC-20
A two-way blockchain interoperability system that uses Simple Payment Verification to enable:
  • Any Standard ERC-20 token to be moved from Ethereum to the Syscoin blockchain as a Syscoin Platform Token (SPT), and back to Ethereum
  • Any SPT to be moved from Syscoin to the Ethereum blockchain as an ERC-20 token, and back to Syscoin

Benefits

  • Permissionless
  • No counterparties involved
  • No trading mechanisms involved
  • No third-party liquidity providers required
  • Cross-chain Fractional Supply - 2-way peg - Token supply maintained globally
  • ERC-20s gain vastly improved transactionality with the Syscoin Token Platform, along with the security of bitcoin-core-compliant PoW.
  • SPTs gain access to all the tooling, applications and capabilities of Ethereum for ERC-20, including smart contracts.
https://preview.redd.it/l8t2m8ldh8e51.png?width=1180&format=png&auto=webp&s=b0a955a0181746dc79aff718bd0bf607d3c3aa23
https://preview.redd.it/26htnxzfh8e51.png?width=1180&format=png&auto=webp&s=d0383d3c2ee836c9f60b57eca35542e9545f741d

Source code

https://github.com/syscoin/?q=sysethereum
Main Subprojects

API

Tools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.

Documentation

Syscoin Bridge & How it Works (description and process flow)
Superblock Validation Battles
HOWTO: Provision the Bridge for your ERC-20
HOWTO: Setup an Agent
Developer & User Diligence

Trade-off

The Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms.
The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.

Cost

Ethereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens
Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.

Z-DAG

Zero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).

Benefits

  • Unique fee-market that is more efficient for microtransaction redemption and settlement
  • Uses decentralized means to enable tokens with value transfer scalability that is comparable or exceeds that of credit card networks
  • Provides high throughput and secure fulfillment even if blocks are full
  • Probabilistic and interactive
  • 99.9999% security assurance within 10 seconds
  • Can serve payment channels as a resilience fallback that is faster and lower-cost than falling-back directly to a blockchain
  • Each Z-DAG transaction also settles onchain through Syscoin Core at 60-second block target using SHA-256 Proof of Work consensus
https://preview.redd.it/pgbx84jih8e51.png?width=1614&format=png&auto=webp&s=5f631d42a33dc698365eb8dd184b6d442def6640

Source code

https://github.com/syscoin/syscoin

API

Syscoin-js provides tooling for all Syscoin Core RPCs including interactivity with Z-DAG.

Documentation

Z-DAG White Paper
Useful read: An in-depth Z-DAG discussion between Syscoin Core developer Jag Sidhu and Brave Software Research Engineer Gonçalo Pestana

Trade-off

Z-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.

Syscoin Specs

Syscoin 3.0 White Paper
(4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
  • 16MB block bandwidth per minute assuming segwit witness carrying transactions, and transactions ~200 bytes on average
  • SHA256 merge mined with Bitcoin
  • UTXO asset layer, with base Syscoin layer sharing identical security policies as Bitcoin Core
  • Z-DAG on asset layer, bridge to Ethereum on asset layer
  • On-chain scaling with prospect of enabling enterprise grade reliable trustless payment processing with on/offchain hybrid solution
  • Focus only on Simple Value Transfers. MVP of blockchain consensus footprint is balances and ownership of them. Everything else can reduce data availability in exchange for scale (Ethereum 2.0 model). We leave that to other designs, we focus on transfers.
  • Future integrations of MAST/Taproot to get more complex value transfers without trading off trustlessness or decentralization.
  • Zero-knowledge Proofs are a cryptographic new frontier. We are dabbling here to generalize the concept of bridging and also verify the state of a chain efficiently. We also apply it in our Digital Identity projects at Blockchain Foundry (a publicly traded company which develops Syscoin softwares for clients). We are also looking to integrate privacy preserving payment channels for off-chain payments through zkSNARK hub & spoke design which does not suffer from the HTLC attack vectors evident on LN. Much of the issues plaguing Lightning Network can be resolved using a zkSNARK design whilst also providing the ability to do a multi-asset payment channel system. Currently we found a showstopper attack (American Call Option) on LN if we were to use multiple-assets. This would not exist in a system such as this.

Wallets

Web3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask.
Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2.
Current supported wallets
Syscoin Spark Desktop
Syscoin-Qt

Explorers

Mainnet: https://sys1.bcfn.ca (Blockbook)
Testnet: https://explorer-testnet.blockchainfoundry.co

Thank you for close consideration of our proposal. We look forward to feedback, and to working with the Reddit community to implement an ideal solution using Syscoin Platform!

submitted by sidhujag to ethereum [link] [comments]

Test

Test
There is a fairly small subset of Bitcoin users that run a full node. I think the idea of running a full node has gotten a bad rap over the years since there is so much talk about running on a Raspberry Pi, or getting zippy SSDs. Although all of this can be fun, it is often not really required at all. Here are some ways to run a full node starting with the very simple. I'll get into more complex configs, but these are all optional.

Tech Skill Level: 0 (the basics)

  1. Download Bitcoin Core
  2. Launch the downloaded installer and install the app
  3. Launch the installed "Bitcoin Core" app and let it run overnight
In many cases, thats it. If your running a new machine with a fairly good internet connection, 8 or 9 hours will be enough to complete the "Initial Block Download" (IBD). This may fill up your drive a bit, but again, on most new machines, 300 GB of space isn't that hard to come by.

Tech Skill Level: 1 (encrypted wallet)

One thing we left out in the level-0 exercise is encrypting your wallet. It's easy enough to do well, but a bit more difficult to do right. The main challenge is that humans generate really poor passwords. If you want a good password, the best way is to use something called "diceware". Basically, you just grab 4 or 5 dice and each throw of the dice represents a certain word on a special list. The throw {1,4,5,3,1} for example would be the word camping on the EFF-diceware-wordlist. So you repeat this a few times until you have a list of 8 or so words which becomes the passphrase you use to encrypt your wallet. Write it down, it is always hard to remember at first. So at level-1 your list becomes:
  1. Download Bitcoin Core
  2. Launch the downloaded installer and install the app
  3. Launch the installed "Bitcoin Core" app and let it run overnight
  4. Choose Encrypt Wallet from the Settings Menu
  5. Enter your 8 word (or so) passphrase generated using the Diceware method

Wallet Encryption Dialog

Tech Skill Level: 2 (enable pruning if needed)

Though I said "300 GB of space isn't hard to come by", some times it actually is. If space is an issue, a simple way to fix it is to tell bitcoin to simple take less space. This is called "pruning" and can take that number from 300 GB down to below 5 GB. If you can't find 5 GB, then you'll have to read ahead to level-3 to add USB storage. But the good news is, enabling pruning is pretty easy, we just add another step to our working list:
  1. Download Bitcoin Core
  2. Launch the downloaded installer and install the app
  3. Launch the installed "Bitcoin Core" app and let it run overnight
  4. Do the wallet encryption steps here if you wish
  5. Choose Options from the Settings Menu
  6. Choose Prune block storage to: and select the max size for the blocks to use
  7. Exit and restart the bitcoin application for the changes to take effect

Pruning Dialog
Note, even setting this to 1 GB will still leave you with about a 4.5 GB install. The blocks take up a lot of space, but the chainstate and other folders eat up at least 3.5 GB and they can't be pruned. Also, be aware, to disable pruning requires you to perform the entire IBD again. While pruned some other functions my be disabled as well, so just know that pruning does limit some functionality.

Tech Skill Level: 3 (verify the installer)

Although this is arguably something that should be done at level-0, some find the intricacies of comparing hash (thumbprint) values to be tedious and beyond the scope of a beginner. You will find these types of hash compares suggested quite often as a way to prevent running tainted programs. Programs are often tainted by bad disk or network performance, but most often, taint is malicious code inserted by viruses or malware. This is a way to guard yourself against those types of attacks. What I cover here is a very basic comparison on the certificate, but a more thorough comparison advised by mosts uses a program called Gpg4Win, and is beyond the scope of this beginners guide. But regardless, most users should strive to do this minimum level of validation.
  1. Download Bitcoin Core
  2. Launch the downloaded installer
  3. When prompted "Do you want to allow..." click Show more details
  4. In the details section select Show information about the publisher's certificate
  5. In the certificate window select the Details tab
  6. In the Details tab Subject should start with "CN = Bitcoin Core Code Signing Association"
  7. Also ensure Thumbprint reads ea27d3cefb3eb715ed214176a5d027e01ba1ee86
  8. If the checks pass, click OK to exit the certificate window and Yes to allow the installer to run.
  9. Launch the installed "Bitcoin Core" app and let it run overnight
  10. Do the wallet encryption steps here if you wish
  11. Do the optional pruning steps here if you wish

Certification Validation Windows
Note: The certificate used to sign the current Bitcoin installer is only valid from March 2020 to March 2021. After that point the thumbprint on the certificate will change. This is by design and intentional. If your reading this post after March 2021, then it is understood that the thumbprint has changed.

Tech Skill Level: 4 (use secondary storage)

We glossed over the "new machine with fairly good internet" part. Truth me known many people do not have fairly new machines, and find the IBD to take longer than the "over night" best wishes. For most people the slowdown is the disk access when calculating what is called chainstate. This requires fast random reads and writes to the disk. If you have an SSD disk, this will be no problem, but if you have a non-SSD "spinning" disk, random writes are always slow. Though an SSD will speed things up, they are pricey, so a nice middle ground may be a simple high-end USB key drive. You can get some with 10 to 15 MB/s random writes which is usually a order of magnitude faster than a "spinning" disk. And with pruning (see level-2), a small USB drive should be fine.
Once you decide on a drive, the tricky part will be to enable external storage. It requires editing a configuration file and adding a few lines. The configuration file needs to be in both the default directory, and USB key drive, but before we do that, we want to create a directory on the key drive. You will need to determine the drive letter of your USB key drive. For the sake of this example, we will assume it is D:, but you must determine this yourself and correct the example. Once you know the drive letter, create a blank folder on the drive called Bitcoin. So for this example, creating Bitcoin on drive D: will create the path D:\Bitcoin. Once done, assuming that D: is your drive, here are the steps to edit the two configuration files:
  1. Download Bitcoin Core
  2. Launch the installer, verify it, then run it
  3. Launch the installed "Bitcoin Core" app and let it run overnight
  4. Do the wallet encryption steps here if you wish
  5. Do the optional pruning steps here if you wish
  6. Launch "Notepad" by typing "Notepad.exe" in the windows search bar then click Open
  7. Type the line datadir=D:\Bitcoin (depending on your drive letter) in the blank file
  8. Choose Save from the File menu in notepad
  9. Type %APPDATA%\Bitcoin\bitcoin.conf (note the percent signs) in the File name box
  10. Select All Files from the Save as type dropdown
  11. Click the Save button and overwrite the file if prompted
  12. Exit and restart the bitcoin application for the changes to take effect

Save As Dialog
Now that you've reached this level of technical expertise, there are many new configuration options that you can begin to modify if you wish. Most configuration data is contained in the bitcoin.conf file and learning how to maintain it is a key step for a node operator.

Tech Skill Level: 5 (all other customizations)

Here's a short list of various things you can ADD to your bitcoin.conf file. You generally just add a new line for each configuration settings.
  • addresstype=bech32
  • changetype=bech32
The addresstype / changetype allows your wallet to use the native-segwit (bech32) format. This is the most efficient and inexpensive way to spend bitcoin, and is a recommended configuration. The default uses something called p2sh-segwit which is more compatible with older wallets, but more expensive to spend.
  • minrelaytxfee=0.00000011
Changing the minrelaytxfee setting allows you to help propagate lower fee transactions. It will require more memory but TXN memory is capped at 300 MB by default anyways, so if you have enough memory, it is a good setting to choose.
  • dbcache=2048
The dbcache setting controls how many MB of memory the program will use for the chainstate database. Since this is a key bottleneck in the IBD, setting this value high (2048 MB) will greatly speed up the IBD, assuming you have the memory to spare
  • blocksdir=C:\Bitcoin
  • datadir=D:\Bitcoin
In level-4 we discussed moving the datadir to a fast external storage, but the majority of the space used for bitcoin is the blocks directory (blocksdir). Although you should always use for fastest storage for datadir, you are free to use slow storage for blocksdir. So if you only want to consume a small amount of your SSD (assumed D:) then you can keep your blocks on your slow "spinning" drive.
  • upnp=1
One of the harder challenges you may face running a node, is to get incoming connections. If you are lucky, you may find that your firewall and network HW support the uPnP protocol. If they do, this setting will allow bitcoin to configure uPnP to allow incoming connections to your node.
submitted by brianddk to brianddk [link] [comments]

EVERYONE, Have A Look Here

So, I've come up to the following comment of a video on youtube and since the guy is obviously biased towards EOS, and missing a lot essential information regarding Cardano, I've actually realized he is making a good point in a way or another. Especially considering the fact that the two projects have almost similar life-length.
Let me make it clear, ADA is 99.5% of my portfolio, and i'm in since November of 2018, but let's be honest, there are questions to be raised, and I would start with: how about getting Staking released after 5 official postponements?
Here's the comment:
Some facts about Cardano: - They have a wallet. Its not working very well, takes forever to sync. But, its peer reviewed....like everything else will be. - still running on one server, but promisses to be the most decentralized of all. Some day... - The IOHK contract expires in 2020. - One of the only two dapps that were developing on cardano (sp8do) moved to eos. - Did i mention that they have a wallet?

Some facts about eos: - running with NO FEES and INSTANT transactions (try gaming sites...youll be amazed) on 21 Block Producers out of 500+ from which the voters can choose from, every 2 minutes. - VC founds investing 100s of millions (Novogratz Galaxy digital 325 Million, $100m FinLab AG and BlockOne VC Fund, $50m SVK Crypto and B1 fund, $50m Tomorrow Blockchain opportunities fund, ...___). - $1bn BlockOne commitment to fund Dapps in the Eco system (EOS VC Initiative) - $200m VC fund with Blockchain veterans Michael Cao and Winnie Liu, which will make strategic investments in Asia-focused projects utilizing EOSIO - Bitmain's Jihan Wu investing heavy in BlockOne - PayPal’s Peter Thiel investing heavy in BlockOne - Rob Jesudason, the Chief Financial Officer (CFO) of Australia’s Commonwealth Bank (CBA), has left the bank to join BlockOne as chief operating officer - Tomorrow Ventures, a venture capital linked to former Alphabet Inc chairman Eric Schmidt, is also involved. - sister chains launching (Worbly, Telos, Eosforce, Boid, Evolution, Eoseurope, BOS,..) They will eventually have inter-Blockchain communication (IBC) which will be a revolution in speed and usability. - Activision (call of duty, angry birds) and Mythical games giants already building on eos. Mythical Games $16m founded by VC's. - China government rated EOS number 1 crypto many times. - Weiss Rating rated EOS number 1 crypto - blocktivity shows - 87 million trx per day, more than all other crypto combined and multiplied many times - in its inphancy (In comparison Ethereum average 600k and Bitcoin average 500k) - 17.000 trx pre pecond on testnet, beating every other project many times over - Wickipedia founder launched Everypedia on EOS, growing fast and thinking on launching their own eos sister chain - DappRadar - most used dapps of all other crypto - Second in number of developers, behind ethereum (not for long as they are moving to eos) - free Airdrops and Airgrabs, worth 1/3 of the EOStokens in just 8 months and coming more and more frequent - Bancor launched a decentralised exchange where you can trade ETH, ERC20, EOS and all EOS airdrops directly beetween them, without fees - many DEX exchanges where you can trade EOS airdrops directly from/to your EOS account - no need to send them anywhere!! (jeah, really!) Eos is growing a brand new internal blockchain market of its own. Many tokens atm are only tradable in EOS. - introducing EOSBTC, EOSETH and EOSUSDT..that act like eth, btc and usdt stable coins, but on eos's blockchain speed - Ledger Nano S integration, where you can set up Ledger to be your active or owner key... and so protecting your eos account even if someone steals your Ledger. A revolution in crypto security. - 4,8 BILLION US DOLLARS warchest in CASH - EOS's development funding is the only crypto that is not effected by the bear market - BlockOne is the only one out there hireing lots of developers in a bear market when others are laying them off. - Many Dapps migrating from ETH to EOS (Sense coin, havven, texico, medipedia, sentinel, Eos Dice bet,...). Even one of the only two dapps developing on cardano just moved to eos (sp8do), publicly exposing cardano as too complicated to build on. - incredibly scalable (every future issue can be fixed easily without a fork) - FORTH crypto in trading volume in a BEAR market (only behind BTC, ETH and USDT) - multiple exchanges adding EOS trading pairs regularly - Blockchain with human readable names, makes transferes as easy as possible - Blockchain with top security, the first one with the so called 'owner' and 'active' key pairs. - one of the strongest and largest community there is. EOS reddit, EOS telegram, a huge amount of sub communities too like for Block Producers, Developers, Designers, people who just talk price action... Even the individual block producers have their own communities, sister chains have their own, dapps build on eos have their own communities... - Virginia Tech - the tech school where Dan Larimer is teaching young troops on eos and blockchain...wait till they come out of there... - Chintai lending, where you can lent your eos resources for profit, today. - Huobi just launched a new exclusively EOS based exchange, where voting and other things will be possible. - referendum voting is on, the ultimate decentralisation. Power to the token hodlers. - EVA, the Uber competition dapp built on EOS got an official operating permit in Quebec - Just out - support for Microsofts . NET - Virginia Tech partnering with Block One - pEOS - just Airdroped to all eos holders. Privacy coin on eos mainet! Immagine a monero on eos... That you can send from eos account to another eos account without a trace... ;) - Tapatalk, a forum system that has over 200.000 forums all around the internet, and more that 300 mio users, is implementing their reward system on EOS. - EffectAI (EFX) moving from NEO to EOS in april 19. - Sense, the new telegram on eos, launched. - Wanchain announced it will integrate with EOS. - FCAS standars of CoinMarketCap rates EOS in first place. - Block one released an hardware wallet as an open source library so any HW can use it - cybersecurity veteran Eddie Schwartz joins Block1 as chief information security officer - EOS is listed on CoinBase Pro. - Still to come (and consequently rise the price): - REX renting (voting incentive, CPU congestion solving) - Block One wallet (with all the goodies in one secure place) - Trezor and other hard wallets implementation - banking on eos (yes, they are opening their own bank where the costumers will be the owners, it is called The Good Bank) - dmail - an email beetween eos accounts, just about finished - facebook on eos, - identitiy on eos, - genome on eos - financial markets on eos, - last but not least - Dan Larimer thinking of a Bitcoin on stereoids on the eos chain (so called Shower coin, that made the competition shit in their pants according to the "Dan is leaving" FUD they are still desperately trying to spread) All this in under a year... And June is coming...
submitted by wisecryptosignals to cardano [link] [comments]

Bitcoin Private is LEGIT!

I have to admit, I was very skeptical of Bitcoin Private in the early going. However, after some research and evaluation of the professionalism of the dev team and the awesome community support, I'm convinced this coin is legit and will succeed.
I've invested in quite a few unprofessional crypto ventures in the past, which a recurring theme for most was getting support for a hardware wallet (ledger and trezor). Using the instructions for the Electrum wallet with the Ledger Nano hardware wallet, I had no problems whatsoever setting up my ledger for BTCP. There are many privacy coins and future Ethereum killers that have been out for years and still have not figured out how to get HW support. I'm talking about top twenty ranked coins.
For a privacy coin, which security and privacy is the ultimate end goal, not having HW wallet support, or it not being a high priority, is embarrassing in my humble opinion. BTCP did it within months! The updates to the community are professional and very well written in comparison to a lot of other so called legitimate cryptos.
The dev team seems to be making good progress on short term goals and seem to be committed to EXPANDING on the innovations of BTC and ZClassic. It dipped when I bought in, but I'm convinced this coin is going to do good things in the future. There's another Anonymous coin speaking on capitalizing on BTCPs early mistakes, but if the BTCP devs and community keep up this current momentum, the Anonymous alternative(s) will be left playing a game of perpetual catchup. Good job guys, including the community!
submitted by cyber7even to BitcoinPrivate [link] [comments]

[New User] Wanting to learn, need some direction.

Hello Miners/Users!
I have been following Bitcoin for a little while now, for the most part I was unable to afford any hardware and maintain electrical prices(was a minor not paying rent at the time).
I am interested if anyone has updated resources on learning about different mining techniques, such as hardware variations(CPU,GPU,ASIC comparisons on what is really worth it for the long haul)
Any advice would be appreciated if anyone currently is using a Solar set up to run their rig. Currently prices for electricity are around 0.13 Cent per kHw (on peak hours) and it doesn't seem that affordable.
If there are any current post's that cover this please let me know as I am actively trying to sift through these posts.
Cheers!
submitted by Jorace to Bitcoin [link] [comments]

Welcome Thunderclappers!

www.qrk.cc/press/
Quark evolves the electronic payment process with two key features - it is Faster and more Secure than Bitcoin!
By now you may have heard of Bitcoin - it is an electronic store of value that is limited in quantity, and is able to be used as a mean of electronic payment.
Quark is a digital payment system based on the Bitcoin code, but with key upgrades in its technology. These innovations will allow it to serve its users needs in a rapidly emerging marketplace that uses digital money or “cryptocurrency”. Digital money is revolutionizing money transfer - in the same way that e-mail revolutionized the way we communicate. Digital money allows us to pay worldwide in a safe and secure manner with minimal fees and without a need for a currency exchange. Importantly, Quark and other digital money is being rapidly adopted into online stores, and will be soon available in traditional stores through payment providers like Moolah (https://moolah.io/).
Quark transfers in a blink and is safe by its technical design:
Faster - The Quark network can create payment confirmations starting within 30s; by comparison, the bitcoin network takes approximately 10 minutes to create its first payment transfer confirmation.
Secure - Quark builds on Bitcoins' already robust security by taking its base encryption algorithm and adds 9 rounds of encryption.
The Quark Community is ecstatic that you have chosen to JoinUs and is announcing two breaking news stories:
1) Quark Announces a Partnership with the Innovative Development Team behind Shaq-Fu: The Legend Reborn - Quark to be offered as a Means of In-Game Payment! Additionally, through our Support, Quark will be Introduced to 8.2 Million Shaquille O'Neal Fans!
The Quark Community proudly announces a partnership with the talented and innovative game developers behind the upcoming crowdfunded game Shaq-Fu: A Legend Reborn (http://www.indiegogo.com/projects/shaq-fu-a-legend-reborn)! Our group is extremely pleased to announce that we will be working closely with the developers to enable Quark as an in-game payment option! Our group looks forward to a strong and mutually beneficial partnership with the great people behind this game. Additionally, we are very excited that as a result of our support to the game, we will be introduced via twitter to 8.2 million Shaquille O’Neal fans, with an accompanying YouTube video! The Quark Community looks forward to meeting Mr. O’Neal’s fans and hopes that they will join us in Reinventing Money together.
Shaq-Fu: A Legend Reborn is a remake of a classic 1990’s beatem-up video game featuring none other than future Hall of Fame NBA Center Shaquille O’Neal in an epic battle of physical prowess against hordes of evil-doers. The current development team is out to re-design everything utilizing modern technology and gameplay dynamics - should be awesome!
The Fu is strong with this one - Shaq recently threw the gauntlet at Kung-Fu legend Bruce Lee - we look forward to seeing the coming showdown hopefully in-game!
https://www.youtube.com/watch?v=p1OTDukccfw&feature=youtu.be
2) Quark Digital Money Partners with Moolah to provide Fast and Secure In-store and Online Payment Solutions!
The Quark community is ecstatic to partner with Moolah, which is an emerging leader among cryptocurrency payment platforms. They offer a full service payment platform, which allows for: - Direct USD to digital money (cryptocurrency) exchange - Merchant cryptocurrency payment portals - online and in store (in progress) The feature that Quark is especially excited about is their upcoming in store point of service payment devices. The Quark community believes that Quark is the perfect partner for this technology due to its inherent speed - with Quark, it will be possible to transfer payment and get initial confirmations within 30s instead of the minimum 10 minutes that Bitcoin needs. This will allow for in store payment for everything from small purchases like coffee, to large ticket items like furniture and home theatre merchandise in a Fast, and Secure way. Additionally - if you're a merchant, charity organization or anyone else, and want to accept Quark and any other cryptocurrencies as payment with direct conversion to USD, please get in contact with Moolah.
In Partnership with Moolah, Euro/Quark and GBP/Quark will be upcoming, so that Europeans will be able to participate in this exciting new service.
Other services offered by Moolah:
Prelude - Exchange services are offered allowing for direct exchange of USD/Quark as well for other cryptocurrencies! Exchange between cryptocurrencies at Prelude in a highly secure manner, with a company that has proven dedicated to building trust through transparency of practice.
https://prelude.io/
Digipay - Web browser extensions which allow for the use of cryptocurrencies on major websites like Amazon!
http://digipay.io/
MitM - Escrow services for those times when both sides need absolute certainty to protect their investment.
https://mitm.io/
We are proud and very excited to team with Moolah and hope to establish a strong and rewarding relationship. Please show your support and learn about this rapidly developing leader in cryptocurrency payments here:
https://moolah.io/
Quark in the Media:
Wall Street Journal:
http://online.wsj.com/article/HUG1747585.html?dsk=y
http://blogs.wsj.com/moneybeat/2014/02/12/bitbeat-alt-coins-bitten-by-same-bitcoin-bug/
Fox Business News:
http://www.foxbusiness.com/personal-finance/2014/03/18/altcoins-brave-new-world-beyond-bitcoin/
BTC38 News:
http://www.btc38.com/altcoin/qrk/1155.html

JoinUs by:

1. Join our reddit group, quark forum or bitcointalk thread and feel free to ask any questions or get involved with our community initiatives!
http://www.reddit.com/QuarkCoin/
http://forum.qrk.cc/
https://bitcointalk.org/index.php?topic=260031.0
Important initiatives:
i) Quark Labs! -
A brainpool of creatives who work on visuals and promotional material. Come to our reddit and ask to join!
ii) Quark Universe! A collaboration of Quark community members on the IRC - Whose mission is to bring in new Quark supporters, answer all
Quark related questions, provide people with information, support new projects, and help with Quark distribution. These guys have put a tremendous effort into creating how-to tutorials and have frequent Quark giveaways! Available on the IRC! Website and IRC access to Quark Universe can be found at: http://www.quarkuniverse.cc/
iii) Quark 1000! - Partner with Quark and help to organize and contribute to a great cause or charity organization! Contact GettinQuarky for details!
iv) Quark Planet! -
Started out as a small planning bulletin board for a comprehensive website for ALL Quark related info in support of Qrk.cc ( including video library, Ticker, Links, News feed, yellow pages etc)--Now evolved into a full scale collaborative effort of Quark Community members on many Quark Projects--Collaboration with Quark Universe is underway!
v) Quark Roar -
A Chinese Quark Press/Information platform which gathers all the talented and devoted Quarkers- Together we will bring the best information about Quark to the billions Chinese speaking audience around the world. www.quarkroar.com
2. Download the wallet for PC, Mac or Android!
Getting started page here:
http://www.qrk.cc/getting-started/
http://www.quarkuniverse.cc/2014/03/31/buying-quark-a-guide-for-newcomers/
Windows Wallet:
Mac Wallet:
Android Quark Wallet(beta)
3. Visit our Exchange website here in order to find an exchange for more Quark and see tutorials!
http://www.qrk.cc/exchanges/
http://www.quarkuniverse.cc/2013/06/11/where-to-buy-sell-quark/
Major Exchanges:
Quark - USD Moolah - Prelude Quark - CNY BTC38 Quark - Euro LiteBit Quark - Pounds Bittylicious
Quark - BTC BTER Quark - LTC Cryptsy
4. Use Quark to make Fast and Secure payments with no transfer fees to all of the great merchants listed here and check out moolah too:
http://www.qrk.cc/merchants/
http://www.quarkuniverse.cc/2014/03/21/merchants-that-accept-quark-as-payment/
https://moolah.io/
5. Accept Quark donations for your charity organization with our easy to integrate widget here!
http://www.qrk.cc/accept_donation/
6. Donate to Quark Foundation to help support infrastructure development!
http://www.quarkfoundation.cc/
● QLrpaRNv6r6VNEy1GENiHwAtmX9T51MBrt
7. Follow us on Twitter!
● @Quark_QRK,
● @QrkFoundation
● @QuarkPress
8. Follow us on Sina Weibo!
● @QuarkRoar
9. Follow us on Facebook!
● Quark.Currency
Other ways to support Quark. Support our Friends!
One of the true pioneers in their support of Quark is the company All Things Luxury, which is a well established online retailer that has been a huge proponent of cryptocurrencies. In their own words:
“All Things Luxury carries a vast selection of jewelry, precious metals and other products. We are a well established website and business that receives a significant amount of traffic and we are a leader in getting our fellow businesses to accept Crypto currencies as an alternative form of payment. Likewise, we will be pushing for our peers to now accept Quarkcoin.”
www.allthingsluxury.biz
submitted by mcphervi to QuarkCoin [link] [comments]

CGB - Open Source Community Development and Marketing Strategy

Cryptogenic Bullion (CGB)
Open Source Community Development and Marketing Strategy

NOTE: This document has been totally replaced by CGB's new website which will incorporate all of the resources found here. http://cgb.holdings/marketing/

This document contains a collaborative framework for the community development and marketing strategy of the Cryptogenic Bullion cryptocurrency. It is intended to be updated by any member of the CGB community who has a new idea or believes they can refine an existing one. The document is open to the public because it serves as a document of logic and open debate. I believe that releasing the strategy itself might provide other deserving cryptos with some guidance to take their logical place in the ecosystem. This document contains the strengths of CGB, misconceptions about CGB, community resources, community development, viral marketing concepts and highlighted communities.
Anyone who wishes to discuss any part or offer updates can reply to either post. I will try to keep the post up to date. Please understand that I am an independent community advocate like yourself. I am only a small piece of the bigger picture and each must take their own initiative in order for this campaign to succeed.
Cryptogenic Bullion Strengths
Proof of Stake Eco-Security: Cryptogenic Bullion is a second generation cryptocurrency employing an advanced hybrid of legacy Proof of Work mining and Proof of Stake minting to secure the blockchain. This multi-pronged approach makes the "51% attack" a thing of the past. Not only would an attacker have to control half of the CPU power on the CGB network, but they would also have to own half of the total currency supply of CGB in order to attempt a "double-spend" attack. Although Proof of Stake can be used alone to protect the network, the legacy Proof of Work aspect of CGB remains as an additional security layer.
The power consumption of CGB will remain far lower than any other legacy Proof of Work cryptocurrency as most of the reward for securing the network is provided through Proof of Stake minting which can be completed quickly on a smart phone, instead of a supercomputer cluster.
Interest Bearing (1.5%): A major benefit of Proof of Stake minting is that you can pay yourself 1.5% interest on savings, without the need for a bank to take its cut. Compared to legacy Proof of Work systems which reward only those with mining equipment, the benefit is made directly to the people who maintain a savings of Cryptogenic Bullion. A Proof of Work mining incentive of 0.5% brings the yearly production of CGB to 2.0%; a rate modelled after the supply of gold.
Inflationary Stage Completed (rare): In order to distribute coins to the widest population base, cryptographic currencies rely on a mining protocol called Proof of Work. This puts new coins into the hands of those with mining equipment like a gaming PC, or a cutting edge server. It gives everyone a fair chance to adopt and spread the currency, but creates the volatility and downward price pressure seen in so many other cryptocurrencies. Cryptogenic Bullion is the only second generation cryptocurrency to have completed this inflationary stage due to its accelerated reward halving. Without this relentless dumping of new coins that almost all other cryptocurrrencies are now struggling against, Cryptogenic Bullion is ready to meet its market potential.
Active Developers and Community: The development team has proven itself to be publicly accountable to the CGB community and has built a reputation for dependability, transparency, and forward thinking. With this foundation, the CGB community is able to focus on extensive advertising and promotional efforts which have drawn in a diverse collection of individuals to the merits of Cryptogenic Bullion. With a social media focus we have been actively engaging many different markets through the use of, among other media, our Facebook page (https://www.facebook.com/pages/Cryptogenic-Bullion/134177020124803), which has over 15,000 likes and CGB's twitter feed (https://twitter.com/CryptogenicBull) with a current following of over 400 individuals.
Misconceptions about Cryptogenic Bullion
Fast Mining/Inflation Stage: One common misconception about Cryptogenic Bullion is that its shorter mining/inflation stage has not given a wide enough range of individuals the chance to participate as early adopters. We must appreciate that this deployment method was chosen to avoid the long period of inflation which increases the volatility and stagnates most other cryptocurrencies in use today. The CGB community has been very active making every effort to get the word out about CGB and make it available on multiple exchanges. What is not realized is that CGB is still in the early adoption phase but instead of mining coins, the low price is what now enables early adopters to participate in this opportunity. CGB is only just now beginning to realize its potential to the discerning investor.
Community Resources
Highlighted Documents and Links
Community Development
In addition to helping to spread the word, there are other tasks which need to be undertaken in order to support the growth of our community. Any suggestions about areas of development are welcome.
  • Lightweight Blockchain Client: (Research Stage) See this post. This gives a client the ability to conduct transactions with a subset of the blockchain. It's useful for mobile applications and offline transaction signing. eg. BitcoinJ, Armory and Electrum
  • Expanded Wallet features: (Research Stage) We are looking to add some exciting new features to our wallet software including CGB network statistics and an RSS feed like functionality. All suggestions welcome!
  • Offline Transaction Signing: (Research Stage) This requires the above Lightweight Blockchain Client. eg. Bitcoin Trezor: This device contains a static environment which holds your private key for offline signing of transactions. This kind of technology is seriously needed for long term viability.
  • Wallet Software Speed Optimization: (Research Stage) Currently the CGB wallet software can take a couple minutes to load (or more depending on CPU). Some other crypto-currencies have been able to optimize their load times down to 15 seconds.
  • Dedicated CGB Forum: (In progress) A dedicated forum would be a nice touch.
  • CGB Wiki: (In testing phase) This will be of great value to us as we can logically create and arrange how-to documentation and all other kinds of information in an easy to navigate and reference repository.
  • Reddit Formatted Advertisements: (Requesting Ideas) We are in need of advertisements for CGB which are formatted 300px wide x 250px tall. These can be generic advertisements or targeted to a specific subreddit. These advertisements will link back to the /CryptogenicBullion subReddit to bring in new community members. For now buying ad space is voluntary but perhaps we may involve some kind of fund to help in the future. (Thanks hybridsole for bringing this up) Update: These functinos might not be as useful as we become more reliant on PoS for security, but might not be a bad idea anyhow, research required. (Artiface) In the future I would like to have the client have a nice visualisation of POS showing stake weight and an estimate of when stake should be generated.
  • Statistical Data: (Requesting Data) We need information to compare CGB to other coins. See: http://bitinfocharts.com/ This includes all kinds of data like technology comparison, coin variables, distribution, and all relevant attributes to be compared with each other.
Viral Marketing Concepts
Got Crypto?: I believe that this phrase has the power to turn Cryptogenic Bullion's slightly awkward name into an advantage. Not only is it a professional name appealing to the investment community, but it can be called 'Crypto' for short. No other coin can logically take this title with more credit than Cryptogenic Bullion. For example: http://i.imgur.com/BU1HSdC.jpg
CGB Vault: This viral concept involves locating high quality vault images and replacing the circular entrance with a translucent CGB logo. This can then include a slogan and or CGB Strengths. For example: http://i.imgur.com/JgSQkHw.jpg
CGB Bull: This viral concept involves making reference to spanish traditions of running with the bulls. A bull market is one which has established an up-trend in valuation. "2014 - Year of the BULLion!" "Run with the CGB Bulls!" etc. Any imagery involving actual bull runs and possibly subtle market chart imagery. Be careful not to appeal to greed, we don't need that kind of volatility. For example: http://i.imgur.com/Fe17cZE.png and http://www.youtube.com/watch?v=Fa-nfIksY4o
Crypto-Asset Trinity: As explained in this paper. A well functioning cryptographic asset market requires three roles to be filled: market gateway, adopted currency, and store of wealth. Bitcoin is the gateway that allows us to access so many markets especially USD of course. Dogecoin is riding a wave of excitement to be accepted by a wide array of merchants and businesses, creating an economy that doesn't require conversion back to government issued fiat as the people choose their own currency. Cryptogenic Bullion is the first crypto-currency to display all of the properties of money, while providing the bearer with interest for holding it. It is portable, divisible, fungible, scarce, low inflation, durable, non-consumable, and a store of wealth.
Crypto Stacking: I know I am not the only one who calls the contents of my CGB wallets a "stack." Some of us have found interest in crypto-currencies for the same reason that we may also hold physical Silver or Gold. Any parallels that can be drawn in imagery or wording to the "Silver Bug" community can be a fun way to promote value and inclusion.
Highlighted Communities
This marketing campaign will first focus on Reddit as our organization and jumping platform to other opportunities. The most effective ways that we can communicate with any community on Reddit is through submission of new ideas, content or links, and through discussion surrounding such a submission. The idea is to try to become more active in the community through informative discussion. If you are not familiar with Reddit, it is a place for content and link, sharing and discussion. It is important that you upvote only those comments and posts with true merit, and instead of downvoting, try to leave an informative or helpful comment. Try to promote CGB only where it is on-topic to do so. Otherwise, general discussion and debate often leads itself to such an opportunity.
When someone has located a post with discussion that could use some CGB community support, they will post a link to the post in the /GotCrypto subreddit with the prefix "Opportunity - ". /GotCrypto will be the collection point for opportunities that arise in various communities to convey logic, reason, and positive messages.
It's important to remember that every community we wish to interact with has its own unique perspective and strategies for contact. We know that any community is made up of members who belong to many other groups and communities; there is a lot of overlap. Our message needs to be as clear as possible and some of the best insights will come from these people. The purpose of this section is to enable these and all other CGB supporters to learn about and understand the most effective ways to communicate with the highlighted community. As this document is updated we should try to build a full picture of each community including:
  • Where they can be found
  • General level of understanding
  • Interaction Notes
  • Opportunities
  • Common Misconceptions
Communities:
submitted by papersheepdog to GotCrypto [link] [comments]

Getting only around 130Kh/s with my HD7870.

Hey there helpful shibes,
I have a problem with my mining setup.
Looking at this chart for litecoin mining: https://litecoin.info/Mining_hardware_comparison My 7870 should at least be getting me 300Kh/s depending on the version, I have the XFX Radeon HD 7870 Double Dissipation Black Edition.
I have already done my fair share of googeling for solutions, and I have tried so far
Also bitcoin mining using GUIminer worked perfectly getting me around 400Mh/s.
Thanks in advance.
Edit: Now using two threads and getting around 250Kh/s, still not perfect but a huge improvement.
submitted by Spaghettisuprise to dogemining [link] [comments]

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Mining Hardware Comparison / Mining Hardware „Vergleich“ Im Folgenden haben wir einige Grafikkarten und deren Leistung beim Mining recherchiert. Die Mining-Werte beziehen sich auf Litecoin Mining und Ethereum Mining. Sollten wir noch andere Hashleistungen der unterschiedlichen Grafikkarten (GPU) in Erfahrung bringen, dann finden sich diese im Bereich „Sonstige“. Hinter der Hashleistung ... Comparison of cryptocurrencies. From Bitcoin Wiki. Jump to: navigation, search. The cryptocurrency market is explosive which currently serves hundreds of currencies. Almost all of them are obvious scams—including many which purport to have a large market cap. This article aims to list only the most relevant cryptocurrencies in terms of novel technological advancements or strong engineering ... Bitcoin price today is $13,073.32 USD with a 24-hour trading volume of $23,603,626,066 USD. Bitcoin is up 0.48% in the last 24 hours. The current CoinMarketCap ranking is #1, with a market cap of $242,210,721,011 USD. It has a circulating supply of 18,527,100 BTC coins and a max. supply of 21,000,000 BTC coins. You can find the top exchanges to trade Bitcoin listed on our SPV Mining / Old Bitcoin Core The following pools are known or strongly suspected to be mining on top of blocks before fully validating them with Bitcoin Core 0.9.5 or later. Miners doing this have already lost over $50,000 USD during the 4 July 2015 fork and have created a situation where small numbers of confirmations are much less useful than they normally are. Bitcoin Hardware Wallet Comparison "Your keys, your bitcoin. Not your keys, not your bitcoin." Follow @mflaxman. KeepKey Ledger Nano S Trezor Model T Coldcard™ Mk2; USD Price (excluding shipping) $79 $59 ~$167 ...

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