Best bitcoin mining pool reddit
It is an interesting concept, especially considering how the documentation of hate crimes in America has been quite problematic for some time now. Whether or not this machine learning-based venture will change matters remains to be seen.
Company Is Now Ponzi Scheme Cryptocurrency cloud mining has always been problematic, both for companies and customers alike. It is evident that good and exciting things are happening in the world of Dash right now, even though few people are seemingly paying attention to it. In fact, consumers have come to expect rewards as a consistent perk to using credit cards. However, in the cryptocurrency world, most cards that have been offered to date TenX, Monaco, etc.
Obviously if you are involved with cryptocurrency you know what cloud mining is. When I heard of cloud mining I though it would be a great opportunity to make money without putting forth hardly any work, but obviously thats not the case. Genesis Mining the leading cloud mining company sells "Lifetime Contracts" but they are not really lifetime. You would be able to mine about. What a great deal.
As bitcoin mining becomes more competitive. Which it will theres no question about it. Your "Lifetime" contracts will end up being so worthless Genesis will cancel them because your contracts won't be even able to cover power costs. You'll want your money back which is impossible because Genesis is nonrefundable and then boom you're scammed.
Genesis mining is selling contracts that they know will never be able to full fill and you're the one taking the lose because you'll never be able to get your money back.
I hope this gives everyone a better idea of cloud mining in general and that in the end your not going to win.
Even if you do luckily manage to reach your initial investment because of the price of bitcoin significantly rising you would have made so much more just investing in the coin rather than buying hash power to mine for it.. This post has you covered. A company can claim to be a cloud mining company without any proof of actually owning any hardware.
Which Companies Are Not Scams. There are only two cloud mining companies we are willing to recommend on this site: Genesis Mining and Hashing Just because they are not scams, however, does not mean that you will make a profit by buying contracts.
Hashing24 Hashing24 is one of the few cloud mining companies we are willing to even list here. The main reason is that they are partnered with BitFury, one of most well-funded Bitcoin companies who is also one of the few re-sellers of mining hardware. Hashing24 sells lifetime contracts, so you retain your hash power until the contract becomes unprofitable. For more info, minin our Hashing24 review. Genesis Mining Genesis Article source is a Hong Kong based company although its founders are from Germany and attend many Bitcoin conferences.
You can read more about Genesis Miniing on their about page. Genesis Mining offers three different Bitcoin mining cloud contracts. All plans are paid with a one time payment and are lifetime contracts: Is Cloud Mining Profitable. It depends what your goals are with cloud mining. If your goal is to obtain bitcoins, then there is really no reason to cloud mine or even mine at all. De-centralization Bitcoin is the first completely open financial network.
Where Governments currently control their currencies, where payment networks are owned by for-profit companies, cryptocurrencies are completely different in that no one controls the currency — or the network. Don't ask us to compare or recommend products. No [Meta] posts about jobs on tech support, only about the subreddit itself.
Keep all communication public, on the subreddit. Private messages and other services are unsafe as they cannot be monitored. Support that violates other's privacy, or breaks terms and agreements is not allowed.
No PSAs unless relevant to an issue it must be a comment. Approach the communities affected directly, not here! Bitcoin Frenzy — Is it the next gold or just a bubble? How Cryptocurrencies Work - Cryptocurrency How Cryptocurrencies Work — Bitcoin Support. Thanks for a great article. How then does the miner broadcast that to the rest of the network to get consensus on the work if his nonce is unique from what another miner would have theoretically found?
Cryptocurrency trading is becoming a profession — The Glimpse. How Cryptocurrencies Work — Bitcoin Supports. You are commenting using your WordPress. You are commenting using your Twitter account. You are commenting using your Facebook account. Notify me of new comments via email. Notify me of new posts via email. Cryptographic Hash Functions Before moving forward we should take a moment to learn about hash functions since they are used all throughout the Bitcoin protocol.
It should be very easy to compute an output for any given input, however it should be impossible given current knowledge of mathematics and the state of computers to compute the input for a given output even while knowing the mathematical algorithm. In this case there are many possible inputs that could add up to 10 55, , , etc.
However, given the simplicity of our function one could still figure out the input relatively easily. Some cryptographic hash functions, on the other hand, are said to be unbreakable by even quantum computers. Unlike our example, each potential output should map to only one input. If a two different inputs can produce the same output this is called a hash collision. Good cryptographic hash algorithms are resistant to such collisions.
A hash function should be able to take inputs of variable size and turn them into outputs of a fixed size. Merkle Trees Now that we have the preliminaries out of the way we can start focusing in on the protocol. The raw transaction data may look something like this: The block header will look something like this: Hash Chaining The hash of each block is included in the header of the next block as such: Six Confirmations The only exception to the above rule is if the attacker simply gets lucky.
Zamri January 7, at 7: Chris Pacia January 7, at Linus February 11, at Thank you very much for this informative post, chris. Chris Pacia February 11, at This comment from reddit gives the probabilities. JDH February 9, at 9: GAO March 24, at 4: Anup August 22, at 7: Shihah Sub March 1, at 1: Johann April 27, at 3: Thank you for being so detailed. The examples are great!
Venture Catalyst June 21, at Katelynn Krampitz July 18, at 9: Patrick Daniel Tiller September 18, at 9: Madelyn Bartholomay November 30, at 9: Wow thank you, you article offered me great insight on how Bitcoin protocol works.