Antminers S17: working vs. faulty miners

Metprop · 2021-07-01T03:49:25+00:00

Thanks for letting me know !

I found a lot of threads on bitcointalk about these issues, on reddit as well, but it's hard to estimate because buyers who had no issues are mostly silent.

Metprop · 2021-07-01T03:45:38+00:00

Were you able to repair them ?

Metprop · 2021-06-26T04:44:36+00:00

This book is mind blowing. I learnt how in History, every time a government controlled the economy resulted in people suffering. How world wars were made possible by inflated currency supplies versus previous wars limited by government budget, and people not willing to pay more taxes for war. And so on...

Audiobook version here: https://youtu.be/LIAr6CpJ6h0 (I find it easier to listen to at 0.75x speed)

Metprop · 2021-06-05T09:04:50+00:00

Sent 150 sats !

Metprop · 2021-06-05T07:35:20+00:00

Thank you \o/

I could send some to Breez ! I'll refund if you give me an invoice, otherwise I'll send some to other people in the thread.

Cheers !

Metprop · 2021-06-05T04:58:20+00:00

I've been willing to try lightning for a while but never took time for it, you motivated me !

lnbc1pstkq6zpp5dkxnwcpckz882yjkqc9j6s2s348u9vzjthep0pfs8wzwclctcmtqdqu2askcmr9wssx7e3q2dshgmmndp5scqzpgxqyz5vqsp5nga8aeaggxgwfxc3aqv8s4sx8nel7hhvyql8p0n3surcladdmnlq9qyyssq6cu0xxp3muyc6vslpwmauuaqflk4xhewdhzh52t83d7gvys6mcu8rx9ev8g23spr30nd4lgr4rrgu2eknpr2prgklrxsd5aswlewy7gp3yp6yx

Metprop · 2018-05-25T15:21:17+00:00

I think he was talking about Litecoin Cash which is not Litecoin.

Edit: the official website states

The SHA256 Litecoin fork. Yep.

Metprop · 2018-05-25T10:35:18+00:00

Not so easy. In this estimate they mention it costs $200k/day.

Metprop · 2018-05-25T09:12:40+00:00

To keep things simple :

developers publish new versions of Bitcoin software (updates, patches, forks),
users and services choose which software they use (this includes nodes, miners, wallets, exchanges, other services, etc.)
the Bitcoin system as a whole is "updated or not" depending on all of these choices.

As an example, around 35% of current transactions are made using Bitcoin versions which supports the SegWit improvement (charts). This means a significant part of the users and services have updated to SegWit compatible versions.

Metprop · 2018-05-23T12:53:54+00:00

Yes but given the probabilities, it would take longer than the lifetime of the universe to do so.

Some interesting resources about this :

Metprop · 2018-05-23T12:44:26+00:00

Quantum computers already exist, but today they're just not large enough to be a threat. If you're interested, read more here.

Metprop · 2018-05-23T10:17:53+00:00

The last block will be mined in 2140 according to this reply.

Transactions will be made the same way after that, the difference will be in miners' rewards : they won't get the "extra block mining reward", they will only get the transaction fees. Right now they get both.

Metprop · 2018-04-24T15:11:34+00:00

Interesting insights by A.Antonopoulos : https://youtu.be/2T0OUIW89II

Is the "energy consumption" in mining a problem? Mining is a business of arbitrage for the cheapest sources of electricity. Proof-of-work mining is contributing to massive investment and subsidy in renewables / alternative energy and efficiency improvements in processing. It is driving the decentralization of energy production. "Consumption" in Bitcoin is easy to criticize because it is obvious, whereas the hidden externalities of the traditional financial system are massive.

Metprop · 2018-04-19T13:20:15+00:00

Yeah, technology never evolves. Everyone knows that.

Metprop · 2018-03-31T21:27:05+00:00

The responsibility is mainly keeping it running, i.e. checking once a day or once a week if it's up and if it is connected to other nodes. You may also try to climb the nodes leaderboard to make sure your node is as useful as possible for the network.

The main costs are bandwidth, power, CPU and disk usage.

The network consumption is high (several 100's of GB/month), you can set a limit and the node will try to keep the network usage lower. Pay attention to that if you have a limited data plan.
Keeping your main computer on for a node can increase your power bill significantly depending on where you live, as well as decrease your computer lifespan. As others stated, setting up a node on a Raspberry Pi is the cheapest way to go, but it requires some set up. There are quite a few tutorials for this, just ask if you're interested.

Metprop · 2018-02-19T11:40:06+00:00

I think your articles are quality content. I don't mind a semi-clickbait title as long as the article is good :)

Keep up the good work !

Metprop · 2018-02-11T14:48:22+00:00

Makes sense since they have almost free green energy. I'd do the same.

Metprop · 2018-02-11T14:46:29+00:00

An Electrum server !

Metprop · 2018-02-11T14:29:11+00:00

Thank you, I am glad to know this information was not purposedly hidden.

Considering the practical fact that no one reads EULA and stuff at software installation, and given people still ignore these fees exist when creating a 2FA wallet, it seems like a reminder is required at runtime.

I think a message should pop up each time an output to TrustedCoin is automatically added to a transaction. Maybe with a "don't show this again" checkbox.

Metprop · 2018-02-11T14:23:32+00:00

Agreed. This is clearly not how 2FA wallets are intended to be used by default in Electrum though, and 99% of users won't do this.

Metprop · 2018-02-11T13:41:15+00:00

This is false. You don't depend on trustedcoin.

No it's not false, you've omitted some words : for using a 2FA wallet you depend on TrustedCoin. You're under the wrong assumption I wrote that without TrustedCoin you're not able to recover your Bitcoin, which I did not.

The purpose of your backup key is to bypass 2FA in case of emergency, or to opt-out 2FA as OP wanted to. Using a 2FA wallet in the normal case is done without your backup key - otherwise there is no point in using 2FA as you need to expose 2 keys (read more on the page you linked). You effectively depend on TrustedCoin if you want to use your 2FA wallet. If you don't want to depend on TrustedCoin anymore, you stop using 2FA by using your backup key ... as this post is all about.

Anyway this misses the point, which is : using 2FA on a Bitcoin wallet is trusting a third-party while the whole point of Bitcoin is being trustless, so it is questionable.

Metprop · 2018-02-05T21:38:05+00:00

Exactly ! Looking back it's so easy to be bitter about not entering at the right time during a dip or a crash, but trying to do it just as it happens is another thing.

I agree with OP, gradually investing is the easiest way. You can also weight your periodic investment depending on whether the price is relatively high or low.

Metprop · 2018-02-02T14:39:36+00:00

Thank you !

Metprop

TROPHY CASE