Cryptocurrencies

What cryptocurrencies do you use/own?

  • Bitcoin (XBT)

    Votes: 30 27.8%

  • Ether (ETH)

    Votes: 16 14.8%

  • Litecoin (LTC)

    Votes: 15 13.9%

  • Peercoin (PPC)

    Votes: 0 0.0%

  • Dash (DASH)

    Votes: 3 2.8%

  • Dogecoin (XDG)

    Votes: 4 3.7%

  • Blackcoin (BLK)

    Votes: 0 0.0%

  • Zcash (ZEC)

    Votes: 3 2.8%

  • Other

    Votes: 14 13.0%

  • None

    Votes: 69 63.9%
  • Total voters
    108
I must try one of those Linux mining distros some time ... any specific recommendations?

For now I've just been throwing Windows 10 on all the rigs.


More info/news on the Fork ...

Fork Watch: ‘Bitcoin Cash’ Support Grows as August 1 Draws Near

Article Link: https://news.bitcoin.com/fork-watch-bitcoin-cash-support-grows-as-aug-1-draws-near/

The large bitcoin exchange Kraken made an announcement yesterday in support of Bitcoin Cash. They said they will be providing users with the ability to trade it on their platform. They pledged to credit clients with an equivalent amount of Bitcoin Cash based on their current holdings of bitcoin.
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The bitcoin exchange platform Bitfinex also announced they would be supporting bitcoin cash. They plan on providing an amount of bitcoin cash tokens equivalent to that of bitcoin in their customer’s wallets.
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Besides exchanges, major hardware wallets manufacturers are also supporting Bitcoin Cash. Both Trezor and Ledger have provided details on securing bitcoin cash in their wallets when the fork occurs.
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Several other exchanges and wallet providers are also signaling their support for the hard-forked token. Exchanges include Quoinexchange, Viabtc, Kcoin, Btcbox, Bithumb, Kex, Mercury Cash, Huobi, Quadrigacx, Toubi, Korbit, Bittrex, and Btcpop. Wallet providers who are adopting Bitcoin Cash include, Bitcoin ABC, Bitcoinclassic, Electrum Cash, and btc.com.
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So you think people are buying up Bitcoin in anticipation of a fork? Seems like it could be a net gain as you'd then have coins on both networks.
 
I think they probably are. I've read numerous comments in the Bitcointalk forums of exchanging altcoins for Bitcoin too, which might explain why most altcoin prices are still dropping. It's effectively free money; you get whatever you hold in Bitcoins matched in 'Bitcoin Cash'. However, I think it's likely that prices of both will adjust to compensate, such that there's no real overall gain. I haven't sold any of my altcoins. In fact I've been buying more while they're cheap.
 
Most folks are not really aware of how finances work, even stocks for that matter.

When you have a market where significant capital is placed, such as crypto currency market, the market will adjust, supply and demand. If demand for Bitcoin Cash drops, which, let's be honest, it is still new and there is a bit of the "unknown quantity" to it, people may find Bitcoin may drop or alt coins will increase to fill a void. There is no such thing as free money, when there is, it is because something else devalued, and someone else lost money.

So in the case of Bitcoin Cash, for it to have value people have to be able to trade and use it. If not, it's worthless. Just like a person will die if you don't have a pulse, if there is no flow of money then circulation stops and the patient will die.

I believe at it's best the combined crypto market was around 100 Billion. Now, that value didn't come out of thin air. That value came about as more traditional methods of payments were replaced or supplemented.

I believe in the long run the alt coins will make better investments. Some have potential to grow. Bitcoin may yet increase but that growth will always be matched by the rise and fall of alt coins and market cap.

I have my payments from Nice hash in my Mycelium wallet, not sure if they will support Bitcoin Cash, but I'm not concerned. Right now the air is full of FUD, Scams and uncertainty as the future of Bitcoin plays out. From what I understand even if there is a fork, it may not last. That's where the uncertainty lies.

Oh well. I will still mine and have fun.
 
NviGate Systems said:
Oh well. I will still mine and have fun.
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Yeah, me too. That's what was so much fun and fascinating about the whole space: I can build a computer and let it run a program and it creates money. That's just so cool.

Then, it's less fun, but still interesting, having to "play the market".
 
I'm having a little trouble understanding the security of Bitcoin wallets Private Keys. I get (I think) that a Bitcoin address is just a code called a Public Key. Whoever has a copy of the corresponding Private Key owns that money.

If your Bitcoin is in an exchange like Coinbase, then you don't really control it, you don't know the Private Key, they do.

I have sent BTC one way to a paper wallet so to speak. Just an address I generated on a vanity address generator site. I was going to send all my BTC that I have in Coinbase to that address (about $330 right now). Then I thought "oh crap, how do I get it out?".

Anyway, I get that my BTC is as secure as where I keep that Private Key. It's on a piece of paper. It's in a computer file somewhere. If lose it or get it hacked and stolen, I've lost that money. But let's say I moved some "money" to that address and I'm ready to spend it.

I need an online wallet or wallet software. To set that up I need to tell that website or that application my Private Key.

HOW IS THAT SECURE?

Also, all the Bitcoin addresses and paper wallets I've created have come from websites. They tell me my new Public Key and Private Key and even generate nice little PDFs that I can print and save. Those site owner could certainly be aware of the Public Key they gave me, they generated it and put it into HTML code for me to see it. What's to prevent them from keeping a log of all that info?

I know that hardware wallets and cold storage exist to address some of these concerns, but I'd really like to clear my thinking about the above questions before getting too deep into hardware wallets and cold storage.

So, is my understanding as outlined above pretty accurate, or am I missing something? Thanks!
 
timeshifter said:
I need an online wallet or wallet software. To set that up I need to tell that website or that application my Private Key.

HOW IS THAT SECURE?
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Short answer: It's not.

I believe such sites supposedly run code locally (ie in your browser) that generate or handle private keys but, unless you've verified that fact yourself and you're confident you have no browser plugin that might (maliciously or accidentally) compromise that information, you can never really be certain your private key is safe.
timeshifter said:
Also, all the Bitcoin addresses and paper wallets I've created have come from websites. They tell me my new Public Key and Private Key and even generate nice little PDFs that I can print and save. Those site owner could certainly be aware of the Public Key they gave me, they generated it and put it into HTML code for me to see it. What's to prevent them from keeping a log of all that info?
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I know the sites you mean but I've never used them. I know lots of people do use them and I've read various explanations as to why they're (relatively) safe. And, like I said, I believe the key generation happens 'client side' (ie in your browser, using javascript or whatever). And I think in some cases you can even download the entire site to run it locally/offline. Personally, however, I prefer to deterministic software wallets such as Armory and Electrum. With HD wallets like Electrum, the private key is generated from a 'seed' and the (public) addresses are in turn generated from the private keys (or at least that's my understanding of it). You only need your seed (and your wallet's encryption password) to recover a HD wallet.
 
So I just moved all my Bitcoin to an Electrum wallet from Coinbase. If and when it forks it will be nice to maybe gain something with a little Bitcoin Cash too.
 
The Bitcoin Cash Timeline: What Will Happen When

Link: https://www.coindesk.com/bitcoin-cash-what-expect-fork-10000-foot-view/


August 1, 12:20 UTC
Bitcoin Cash will launch.

At this point, miners that are mining Bitcoin Cash will create a transaction block greater than 1 MB in size and fork the bitcoin network.

There are a few scenarios here that depend on the percentage of hash power that the new blockchain attracts:

  • If less than 16% of bitcoin's current hash power transitions to Bitcoin Cash, the first block will likely take over an hour. This won't affect the bitcoin blockchain that much, though on average, blocks should take a little longer than 10 minutes.
  • If 17-50% of hash power moves to mining Bitcoin Cash, the first block will likely take between 20 minutes to an hour. This will slow down the bitcoin blockchain somewhat. Blocks on bitcoin will take between 12-20 minutes.
  • If more than 50% of hash power is mining Bitcoin Cash, the first block will likely take less than 20 minutes. This will slow down the bitcoin blockchain significantly. Blocks on bitcoin will take longer than 20 minutes on average.
During this time, users will likely begin sending Bitcoin Cash to exchanges that both list the cryptocurrency and that have vowed to continue operations through the fork.

We can expect that the exchanges that accept Bitcoin Cash deposits first will have a lot of activity, and that initial trading will likely cause some significant price volatility due to reduced liquidity.

As for transaction approvals, even with low hashing power, we can expect the Bitcoin Cash mempool to be relatively empty since the network's blocks will be relatively big.

At 12.5% hash power, the mempool on Bitcoin Cash will clear at about the same rate as bitcoin. That said, confirmations will be much slower for the coin with less hash power until difficulty adjusts.

August 3–7
If Bitcoin Cash has relatively low hashing power, we can expect some difficulty adjustments at this time. Most scenarios result in something close to 10-minute block times provided the hash power stays constant.

This is probably not a safe assumption as miners will likely be switching between Bitcoin and Bitcoin Cash depending on which one is more profitable.

Bitcoin Cash will be much easier to mine after the difficulty adjustments, and we may get some relatively fast blocks (2.5 minutes or less) until we hit block 479,808.

August 8–14
SegWit should lock in on bitcoin around this time.

Depending on how much mining power moves over to Bitcoin Cash, and how much new mining power shows up, lock-in on block 479,808 on bitcoin may take longer than expected.

Once lock in is achieved, the code will be activated later this month, effectively upgrading the main bitcoin blockchain to support larger-capacity transactions.
 
BCC has already dropped in price. It was in the area of $500 USD a couple of days ago yet it's dropped to $277. That's almost a 50% drop.

Plus I foresee some issues with regards to this new currency. They use the short form BCC, but BitConnect also uses BCC, so I'm sure there will be confusion. Unless it's just the media that's using BCC.

This is going to shake things up.
 
NviGate Systems said:
Plus I foresee some issues with regards to this new currency. They use the short form BCC, but BitConnect also uses BCC, so I'm sure there will be confusion. Unless it's just the media that's using BCC.
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What's worse is that many people have been calling BitConnect a scam/ponzi for quite some time (justifiably too it seems) and there's an expectation that the scam will dramatically collapse in the near future. So an association/confusion with BitConnect is not really something you want to have.
 
Moltuae said:
What's worse is that many people have been calling BitConnect a scam/ponzi for quite some time (justifiably too it seems) and there's an expectation that the scam will dramatically collapse in the near future. So an association/confusion with BitConnect is not really something you want to have.
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Devs of Cash still pushing for it to be called BCC; Few exchanges look like they will go with BCH instead?
 
I noticed that. It's mainly the exchanges that already carry BitConnect that are calling it BCH I think. Which isn't many because most of the trading volume is on BitConnect's own exchange (a fact that adds further weight to the argument that it's a scam).

I notice that CoinMarketCap has started referring to Bitcoin Cash by the BCH shortcode now too. This morning they were calling it 'Bitcoin Cash (Futures) (BCC)'. The 'Futures' part presumably referring to the fact that these were the trading prices of a coin that didn't yet exist.
 
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For anyone using Electrum, ths is the official statement, including info on how to claim your BitCoin Cash:
https://electrum.org/bcc.txt

Haven't actually tried this myself yet ...

How to redeem my BCC?

BCC wallets will require you to import your seed or your private keys, which can be exported from Electrum. Doing so will expose all your Bitcoin funds associated with that seed to the BCC wallet you decide to use.

Therefore, *after* the BCC fork, but *before* you enter a seed or private key in a BCC wallet, you should move all your funds to a new Electrum wallet, with a new seed. You will still be able to use the old seed or private key with BCC, because BCC has replay protection. Wait until your funds are confirmed in your new Bitcoin wallet, before you enter the old private key in a BCC wallet. This will protect your BTC funds from rogue/untrusted software.
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Shocked that I get less ethereum with a 1080 than a 1070

Max I could get with overclocking
1080 26
1070 30

Stock
1080 21
1070 25 (I think I don't remember that one.
 
Moltuae said:
6 x 1080 is pushing it a bit for a 1200W PSU is it not? What power level are you running them at? You may need a 1600W PSU for that lot.

This is the one of the reasons I'm sticking with smaller 4-card rigs now. Motherboards with 4 x PCIe are cheaper and more readily available too. Ended up pulling my hair out with every larger rig we built. Haven't got much left to pull out now so I'm keeping it simple.

I haven't done a 6 x 1080 rig but most of the problems I had with the 6 card rigs we built were down to either the BIOS, the driver version, witchcraft, or a combination of all 3. I would check you have the latest BIOS version and try a different (later/earlier) driver. There are known issues running multiple cards with certain drivers. I guess manufacturers never envisaged people would be running 6 or more cards in a single PC and never properly tested that scenario. The witchcraft fix that worked for me on most occasions was simply to start back with a single card, adding one at a time. Make sure each card is properly working/benchmarking before adding the next. You may find that for no apparent reason they all work when you add the last one. Sacrificing a goat may help too.
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Got them all to work on a 1200w

Ended up adding one at a time and only got up to 5. Then turned off and switched 5th card to the 6th slot. Booted and it showed 5. Shut down and plugged in 6th card in slot 5 and it found 6.

Very weird
 
kwest said:
Shocked that I get less ethereum with a 1080 than a 1070

Max I could get with overclocking
1080 26
1070 30

Stock
1080 21
1070 25 (I think I don't remember that one.
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Very strange.

1080's are known for not being great at overclocking - but at stock it should be significantly faster than a 1070.

I've used both to mine zcash and the 1070 gets ~460 sol/s while the 1080 gets ~590 sol/s (both overclocked). Nearly 30% faster.
 
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