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 Bitcoin and other Cryptocurrencies, Comprehensive guide on first page.

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kmarc
post Jun 23 2017, 10:41 AM

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QUOTE(Enigmatic @ Jun 23 2017, 08:43 AM)
Just change your DNS. biggrin.gif (8.8.8.8/8.8.4.4)

I was going to start writing on Medium then found out I had issues getting my equations there. lol
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So easy? I thought had to proxy or VPN. My Free VPN not working and lazy to troubleshoot. Will try it later. Thx.

At first glance, the article written by Vorick was excellent! Need to digest more later. Going to search his profile later too. If he is a programmer, I would be doubly impressed that he can actually write such an in depth article on why ASIC is the way forward for sia. Gives me much confidence that this learned person can actually make Sia work.

This post has been edited by kmarc: Jun 23 2017, 10:46 AM
kmarc
post Jun 23 2017, 06:14 PM

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QUOTE(Enigmatic @ Jun 23 2017, 11:52 AM)
I'm not sure about ASIC mining myself. If they are using the same computation (e.g. SHA256) then wouldn't people still be able to jump between coins...? Also how likely it is for a "normal" users to buy dedicated hardware, vs just using a GPU (could it lead to a very centralised groups of people, e.g. data centers running ASICs to secure the blockchain hence data centres owning most of the hashrates). I would imagine mining pools to not be able to convince all miners to act maliciously, compared to data centers.

Need to thoroughly look through Vorick's thoughts. Maybe later.
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Vorick had put it in such a nice way that it was mostly understandable for noobs like me. However, the arguments for and against ASIC usage is beyond me and I would not have any idea on the merits of the arguments. I can only say that it sounds believable and it is a bold step forward. Here you have various sorts of cryptos trying to be ASIC-resistant and suddenly Sia decided to be ASIC-friendly.

I'm still waiting for the Obelisk SC1 announcement. Probably a joint venture with IBM? hmm.gif
kmarc
post Jun 23 2017, 11:20 PM

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QUOTE(Loiren @ Jun 23 2017, 10:27 PM)
Finished reading as well.
There are bits and pieces i dont understand fully.
However, would agree that Vorick had made it very digestible for the average folk.

In short i would see if as shifting Siacoin's mining infrastructure to a more stable hardware framework less prone to community attack.

Question i had then is how is ANS/NEO different ? Curious to understand more.
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And so, Sia announces Obelisk's Sia ASICs : https://www.reddit.com/r/siacoin/comments/6...s_full_details/

The problem is, a lot of people are not happy with the terms and regulations of pre-ordering the miner at USD2.5k which will only come out in March or June 2018!

I like the idea of securing the network by having dedicated ASICs. I mean, they are providing cloud storage that has to be 100% reliable with 100% uptime. However, it looks like they need to iron out the process of getting those ASICs to end-users. From the looks of it, majority are unhappy.

The only worry I have is whether Obelisk (the company) can deliver on those ASICs which is still on the drawing board!

This post has been edited by kmarc: Jun 23 2017, 11:23 PM
kmarc
post Jun 23 2017, 11:32 PM

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QUOTE(Ash1988 @ Jun 23 2017, 11:23 PM)
Paying a USD2.5k and they only accept Bitcoin. Plus the downside is the product only comes out in more than 6 months.
What will happen in between no one knows.
So, are you dumping SC?
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Nope. To me, the concept and future plan is sound. Even the explanation of payment method (using BTC instead of SC) was acceptable, to me at least. The only thing is whether they can successfully create the product and get it to end-users on time. Any failure will probably lead to a big crash although I don't see why it should crash as GPU mining will still go on until those ASICs comes out.
kmarc
post Jun 23 2017, 11:39 PM

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QUOTE(Loiren @ Jun 23 2017, 11:27 PM)
Would think that producing ASICs would not be that tall a mountain to climb.
It is an existing tech product after all.
Getting sufficient pre-orders might be.

This might be where the community splits. Investors looking for quick gain VS techies in for the long run.
Hmm. HODL or dump ?
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HODL or dump, I can't advice you on that. wink.gif

I'm HODLing for now and will see what happens when the dust settles. It's not bad news per se. Sia's team have a lot of explanation and damage-control to do to address the unhappiness surrounding the ASIC.

The only thing I'm thinking is the ASIC would not affect Siacoin's development in anyway. The ASIC is meant to strengthen the network. If it was never produce, produce in a few months or comes out years later doesn't really affect the core development of Siacoin's cloud storage..... hmm.gif

Oh well, will sleep on it and see what happens tomorrow. smile.gif

This post has been edited by kmarc: Jun 23 2017, 11:40 PM
kmarc
post Jun 23 2017, 11:51 PM

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QUOTE(Loiren @ Jun 23 2017, 11:44 PM)
My sentiments as well. It will be ironic if they become an ASIC company years down the road instead of decentralized cloud storage.
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Do note that Siacoin's team and obelisk are two different entities under the same company:

QUOTE
Obelisk is the company that will be producing these chips. Obelisk is a fully owned subsidiary of Nebulous Inc. Nebulous is the company that employs all of the Sia core developers.

Obelisk has plans for growth in the future. None of these plans are finalized as we are primarily focusing on shipping this miner, but potential future products include:

kmarc
post Jun 24 2017, 07:11 AM

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QUOTE(wengherng @ Jun 24 2017, 01:55 AM)
Oh relax......so SC went down by 1% in dollar value......that's hardly a crash......not even a tank or a dip.
Don't just look at the SC/BTC conversion rate......BTC has been steadily inching up over the last 24 hours, so it's natural that you'll see a negative value on those coins that remain unchanged in terms of fiat value.
Chill and go grab a Kit Kat.
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I find it funny that those SC investors keeps on complaining about the long delivery time for the ASICs i.e. March or June 2018. SC is actually one of the cryptos that are showing real progress and development. If you look at cryptos as a whole, a 9-month or 1-year wait for significant development is acceptable, to me anyway. Take any favorite coin and see when their next significant milestone is.

I guess those people who complain don't see the whole picture. Of course, it is entirely possible that I myself don't see the whole picture. After all, I'm just a noob sweat.gif With ASICs to strengthen the network, it is a bold move to ensure security and reliability of the product. To compete with the likes of amazon and google in cloud storage, it is probably the only logical move.

All in all, I would say it is great news! Bumps along the way expected. Hope they can deliver.

Anyway, who's holding mobilego tokens? The price has been inching upwards recently! rclxms.gif

This post has been edited by kmarc: Jun 24 2017, 07:20 AM
kmarc
post Jun 24 2017, 01:09 PM

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Hmmm.... I was just thinking about FD which is usually 3-4% per annum.

I'm currently actively lending out about 1 BTC at about 0.1-0.2% rate. Say at a constant rate of 0.1%, that's actually 36.5% per annum!!!! Due to security risk, just too bad cannot just dump in all my FDs into BTC and lend it out on Poloniex.

Due to this, I'm going to increase my lending amount. However, the BTC will come from my existing funds on Polo which is slowly increasing everyday. Have not bought any BTC past one month and if cryptos continue it's march upwards, I don't think I will ever need to buy any more BTC ever again! smile.gif Of course, it is also because I have reached my target investment limit for cryptos. wink.gif

Can one become a lifelong loan shark on Polo? laugh.gif

This post has been edited by kmarc: Jun 24 2017, 01:14 PM
kmarc
post Jun 24 2017, 04:12 PM

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QUOTE(WooTz @ Jun 24 2017, 03:31 PM)
Try this method

https://reddit.com/r/Antshares/comments/6ax...ef=search_posts
Before 9pm, it'll get rejected and you waste fees.

People would send a ton of huge transactions on 8:59:30
*
I will only buy in if there's some crumbles left. sad.gif
kmarc
post Jun 24 2017, 08:56 PM

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Ok. I'm ready.... to put my children to bed..... cry.gif

Will check out later to see whether any more crumbs for poor me..... bruce.gif
kmarc
post Jun 24 2017, 10:03 PM

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QUOTE(Enigmatic @ Jun 24 2017, 08:57 PM)
Can buy them tokens from Mr Whale. tongue.gif
*
Haha, it's ok. Can still buy on the open market. smile.gif

Congrats to those who managed to get it! thumbup.gif
kmarc
post Jun 24 2017, 11:51 PM

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QUOTE(jack2 @ Jun 24 2017, 11:00 PM)
which open market can buy from?
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I meant later when they list in on exchanges.
kmarc
post Jun 25 2017, 10:52 PM

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Damn boring market. yawn.gif

Finally decided to get my desktop wallet ready. biggrin.gif

Attached Image

Don't want to have any downtime so my boot drive is going to be x2 SSD (RAID) and the wallet files will be x2 1TB HDD (RAID).

If crypto prices goes up further, I might get another exact motherboard as backup. Reason being if motherboard goes kaput, you have to replace it with an exact motherboard if you want your windows that is installed on the harddisk to work without any problems. Of course you can wait for your motherboard to RMA but that would take time.

Will start assembling it tomorrow..... rclxms.gif

Oh ya, a bit overkill but it's ok.... courtesy of Mr. Cryptos..... smile.gif

This post has been edited by kmarc: Jun 25 2017, 10:55 PM
kmarc
post Jun 25 2017, 11:00 PM

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QUOTE(dc_talkz @ Jun 25 2017, 10:55 PM)
Desktop free from the internet? Wouldn't a hardware wallet be cheaper?
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I still haven't decided on whether to use it purely for cryptos (which is connected to internet only when necessary) or use it as a "safe" computer for any financial transaction. You would need internet connection when syncing desktop wallets. At the moment, my wife's computer is the "safe" one although it is very old and giving some problems. Furthermore, it is 32-bit which doesn't support some desktop wallets like siacoin.

Hardware wallet can only keep certain coins. I have both Trezor and ledger nano S but they cannot hold all the 50+ types of coins I have.

This post has been edited by kmarc: Jun 25 2017, 11:02 PM
kmarc
post Jun 25 2017, 11:07 PM

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QUOTE(dc_talkz @ Jun 25 2017, 11:03 PM)
Haha that explains your enthusiasm. Good luck bro. I've seen a few of my friends building up computers from scratch just to store their cryptos. It could be worth it in the long run smile.gif
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Thx!

Wah! So good to have company doing cryptos. I'm all alone here in Sibu ( sad.gif ) but that's ok. biggrin.gif
kmarc
post Jun 25 2017, 11:24 PM

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QUOTE(dc_talkz @ Jun 25 2017, 11:15 PM)
Well, we have always been trading stocks, not really experts or anything, just casual investing through tips and rumours that we get. So when I discovered crypto, I pretty much dragged all their sorry asses along. Best thing I did so far, haven't been looking at stocks for awhile now. tongue.gif

Ohh, Sibu many tycoons. Looks like we have another whale swimming around here .. hehe
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Nice nice. Yeah, since cryptos, I have not bothered with other investments at all. However, as cryptos only takes up about 10% of my investment, I still have to manage the rest.... soon..... dry.gif .

I have jumped out of stocks past 3-4 years expecting the next crash to occur but it never did. Lol!

There's only one whale here.... and it is not me.... bye.gif
kmarc
post Jun 26 2017, 07:31 AM

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Such a boring market. Who's going fishing? biggrin.gif

Bitcoin Miners are Rejecting Segwit For Non-Technical Reasons : https://themerkle.com/bitcoin-miners-are-re...hnical-reasons/

QUOTE
It has become evident that miners are not opposed to the Bitcoin Core development team’s transaction malleability fix Segregated Witness (Segwit) given the overwhelming support towards Segwit2x, a proposal made by Barry Silbert-led Digital Currency group and 57 other companies that include major mining pool operators such as Bitmain.

The hashrate signaling the activation of Segwit2x is currently over 90 percent at the time of writing. The proposal entails the activation of Segwit at an 80 percent activation threshold by September and the execution of a 2MB block size increase hard fork six months thereafter. The key component of the proposal is the activation of Segwit and given the 90 percent support from miners, it is quite clear that miners are in favor of activating Segwit.

    Segwit2x’s 91% miner support is strongest consensus signal ever for blocksz growth. Hard work is just beginning. https://t.co/ZyJ6YYr17E

    — Mike Belshe (@mikebelshe) June 22, 2017

One condition requested by the miners is the execution of a 2MB block size increase hard fork which derived from the Hong Kong scaling agreement that was established in February of 2016. The majority of miners believe that the expected 75 percent optimization of block size through the activation of Segwit and additional scaling via second layer payment channels such as Lightning are not sufficient to address the explosive growth of the bitcoin industry and user base.

Yet, the rapidly increasing support towards Segwit2x has proven to the industry and community that miners are not opposed to Segwit for technical reasons. In fact, a major mining pool operator ViaBTC, recently stated:

    “The main reason to refuse Segwit is because the roadmap of bitcoin core, not the technical detail.”

The development team behind ViaBTC revealed that the company along with many China-based mining companies such as Bitmain’s Antpool have been opposed to Segwit due to their rejection of the Bitcoin Core development team’s roadmap. In particular, ViaBTC wrote in a blog post earlier this year that it does not approve Bitcoin Core’s roadmap of utilizing Segwit as a scaling solution.

    “Segwit, which is a soft fork solution for malleability, cannot solve the capacity problem. From Core members’ public statements, they didn’t attach necessary importance on this issue. Even if Segwit after activation can slightly scale up block size with new transaction formats, it’s still far behind the demand for the development of Bitcoin network,” wrote the ViaBTC development team.

However, one of the solutions offered by Segwit is the infrastructure for two layer solutions such as Lightning which are expected to open doors for a wide range of services and applications that can operate on top of bitcoin and most importantly, significantly lower transaction fees through the usage of payment channels.

Similar to the viewpoint of Bitmain, ViaBTC claimed that the implementation of Lightning and payment channels will lead to centralization of transactions by deviating from direct on-chain peer to peer transactions to payment channel-based transactions.

To this date, Bitcoin Core, the industry and community have been straightforward with the scaling roadmap. Activate Segwit to strengthen security measures by eliminating transaction malleability and providing better infrastructure for hardware wallets and establish a working platform for two layer solutions for long-term scalability.

The scaling debate has started to see some progress as miners agreed to activate Segwit given a condition to increase the block size by 2MB. Given that the mining community is opposed to the sole activation of Segwit due to non-technical reasons, over the next few weeks, the bitcoin industry is likely to see major progress with scaling.

kmarc
post Jun 26 2017, 12:39 PM

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GDAX to credit customers account as a result of the recent flash crash : http://www.cnbc.com/2017/06/24/cryptocurre...lash-crash.html
kmarc
post Jun 26 2017, 11:33 PM

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QUOTE(roy_zu @ Jun 26 2017, 11:09 PM)
Wow. My paper lost almost MYR 10k for ANS and another 5k plus for other altcoins. Sad part not enuf BTC now to get cheap coins
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Hope they bounce back after bitcoin's problem is resolved. First time I see ALL my 40+ coins on Polo all red. sweat.gif If the cycle is maintained, we should see the green army coming in soon....... smile.gif

About 1 BTC now on loan, going to pick up some discounted coins once the loan is released.
kmarc
post Jun 26 2017, 11:37 PM

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Oh ya, don't forget stellar giveaway at midnight 26 June UTC : https://www.stellar.org/blog/bitcoin-claim-lumens-2/

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