Bitcoins and Cryptocurrencies

On the topic of mining, here's an interesting graphic showing the current best for your money mining graphics processors. 

http://cdn.mos.cms.futurecdn.net/gZ6WDjXn6Ct8vrBssNjak5.png

Mining takes a lot of money and performance, nothing worthwhile even if you had a regular good graphics card and computer.  It would take roughly half a year to recoup your money on the best ones.  Another thing to remember is when the price of cryptos go up, most of the time the complexity and time of mining it does.  You're only real hope is to mine a certain crypto, and hope that it's value increases drastically in the future.  But that's a gamble in itself.

 
I was trying to find a list of programs people use to mine with for you @ryanator. I just ran across it the other day and of course, I can't find it now.
 
It's amazing the actually have scripts that can run in the background and use your CPU cycles to mine with. Basically, you visit the page and they will instantly run in the background.
 
I'm surprised you haven't tried mining for some @nodle This seems up your alley.
 
I'm surprised you haven't tried mining for some @nodle This seems up your alley.
Click to expand...
Nope, I stay far far away. I am not one bit interested (I was originally when they were first introduced).

 
Wallet for your bitcoins.

ledger_nano_s.png


https://www.ledgerwallet.com/

 
It's amazing the actually have scripts that can run in the background and use your CPU cycles to mine with. Basically, you visit the page and they will instantly run in the background.
Click to expand...
Clock Suckers!

 
bitcoin-mining-vs-world.png

According to Digiconomist’s Bitcoin Energy Consumption Index, as of Monday November 20th, 2017 Bitcoin’s current estimated annual electricity consumption stands at 29.05TWh.

That’s the equivalent of 0.13% of total global electricity consumption. While that may not sound like a lot, it means Bitcoin mining is now using more electricity than 159 individual countries (as you can see from the map above). More than Ireland or Nigeria.

If Bitcoin miners were a country they’d rank 61st in the world in terms of electricity consumption.

Here are a few other interesting facts about Bitcoin mining and electricity consumption:

  • In the past month alone, Bitcoin mining electricity consumption is estimated to have increased by 29.98%
     
     
     
  • If it keeps increasing at this rate, Bitcoin mining will consume all the world’s electricity by February 2020.
     
     
     
  • Estimated annualised global mining revenues: $7.2 billion USD (£5.4 billion)
     
     
     
  • Estimated global mining costs: $1.5 billion USD (£1.1 billion)
     
     
     
  • Number of Americans who could be powered by bitcoin mining: 2.4 million (more than the population of Houston)
     
     
     
  • Number of Britons who could be powered by bitcoin mining: 6.1 million (more than the population of Birmingham, Leeds, Sheffield, Manchester, Bradford, Liverpool, Bristol, Croydon, Coventry, Leicester & Nottingham combined) Or Scotland, Wales or Northern Ireland.
     
     
     
  • Bitcoin Mining consumes more electricity than 12 US states (Alaska, Hawaii, Idaho, Maine, Montana, New Hampshire, New Mexico, North Dakota, Rhode Island, South Dakota, Vermont and Wyoming)
     
     
     









At a very basic level Bitcoin mining requires expensive and power hungry computer hardware. As the the IEEE explains:

Mining power is high and getting higher, thanks to a computational arms race. Recall that the required number of zeros at the beginning of a hash is tweaked biweekly to adjust the difficulty of creating a block—and more zeros means more difficulty.

The Bitcoin algorithm adds these zeros in order to keep the rate at which blocks are added constant, at one new block every 10 minutes. The idea is to compensate for the mining hardware becoming more and more powerful.

When the hashing is harder, it takes more computations to create a block and thus more effort to earn new bitcoins, which are then added to circulation.

To better understand how this whole process works have a look at Investopedia’s guide.

https://powercompare.co.uk/bitcoin/

 
Over 9,000 now.
 
1 bitcoin over 10k now. Dangerous times though. I heard one of the biggest searches on the internet right now is people wondering if they can charge bitcoin's with credit cards. It's gonna crash and crash hard when it does.
 
In '29 they had a long winning streak like now. People said it could never happen. History has a way of repeating itself. We'll switch over to the beast system from the collapse. Bitcoin is the forerunner.
 
mj6R6Bz.jpg
 
I have been reading how people are dumping their entire life savings into this hoping for a big payout. It's gonna pop and when it does people are gonna dump them so fast. I can't wait to make that post in here.
 
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