Bitcoin mining.

[Bitcoin]

My Ethereum Mining Farm Tour - Mining At Home 3.5 GHs|11:27

[Bitcoin]

Outlining The Future Of Low Bandwidth Bitcoin.
There is a need to strengthen the Bitcoin ECOSystem for people whose only computing device is a smartphone and who live where mobile internet access is expensive, slow, unreliable or censored. Senegalese Bitcoin developer Fodé Diop has made the point that many parts of the world are "mobile only," not just "mobile first."
Mobile wallet apps that allow users to retain control of their private keys for signing transactions, but do not act as full Bitcoin nodes, are usually referred to as "light" clients. Light clients make trade-offs to privacy and trust minimization in order to reduce the memory, persistent storage and communication bandwidth they require. This article focuses on how to minimize the bandwidth used by light client wallets running on a mobile phone.
Light clients have much lower bandwidth requirements than full nodes because they do not download the full Bitcoin blockchain. Instead light clients use some form of "simple payment verification" (SPV) to confirm transactions. Rather than directly confirm the validity of every transaction added to Bitcoin's ledger since the genesis block, an SPV wallet only confirms that the particular transactions associated with the wallet were added to a block, and that this block is part of the chain of blocks with the most work securing it. An SPV wallet assumes, but does not verify, that the majority of honest miners will only contribute work to extend the blockchain built from transactions that follow the consensus rules of Bitcoin.
In this technical discussion we examine the light client bandwidth requirements and the subtle security and privacy trade-offs that exist for light clients designed to operate with limited internet connectivity.
Light Client Trade-Offs.
The most secure solution for users is to run and confirm payments with their own Bitcoin full node. However, there is some correlation between countries where people rely on relatively expensive or unreliable metered internet connectivity -- where Bitcoin's censorship resistance is most needed -- and those where people are unlikely to have the technical or financial resources to run a Bitcoin full node. In many parts of the world, Bitcoin users will have no other option but to use online custodial bitcoin wallets due to bandwidth costs. Using a low bandwidth, mobile-only light client can act as an intermediate step toward eventually running a dedicated full node.
An advantage of custodial bitcoin exchanges is that their risks to user privacy and funds are very similar to those of other trusted payment providers like PayPal and Western Union. Light client wallets require a more nuanced appreciation of the security and privacy trade-offs that come from using anonymous public nodes and complex peer-to-peer protocols.
There is also an argument that light clients can be harmful to the Bitcoin network generally. As more people run light clients it increases the bandwidth and computation requirements of the public full nodes that serve them. This can lead to a decrease in the number of public full nodes, especially those that serve information to light clients. If all light clients rely on a small set of public full nodes, their security and privacy can be compromised if those full nodes conspire against them.
We believe that the impact on the Bitcoin network can be minimized if light clients also exchange data directly with other light clients. The proliferation of light clients will eventually lead to more users running full nodes, especially in developing countries where connectivity is more expensive and personal computers aren't in widespread use.
Network Layers.
Light clients must support many of the same network protocol layers as Bitcoin full nodes. Both start by directly communicating with an initial set of Bitcoin nodes. From these initial nodes they exchange the addresses of other nodes that are part of the Bitcoin network.
Both light clients and full nodes must also learn from their peers about the proof-of-work securing and connecting alternative blockchain tips back to the genesis block. Full nodes primarily differ from light clients in how they share information about transactions. Full nodes exchange information about transactions in blocks and independently validate that new blocks follow the consensus rules of Bitcoin. Light clients only confirm specific transactions are present in blocks confirmed by full nodes.
Connectivity.
Unlike the fixed-cost wired internet connections typically used for full nodes, mobile phones use metered internet connections where transferring large amounts of data can be costly. Mobile phones also run off of batteries, which are used up faster when transferring data. They also cannot take direct advantage of broadcast data feeds that require fixed satellite dishes or large radio antennas.
Mobile devices do have some resiliency and privacy advantages over nodes with fixed power and data connections. They can operate off-grid or during power outages and in some areas can purchase pre-paid internet subscriptions anonymously. Mobile devices can also gain privacy and censorship resistance by connecting to different local peers via ad-hoc networks as they move around.
Light clients made for mobile phones should allow users to configure how much mobile bandwidth to use and be aware of when data allocations are renewed or about to expire. Alternative unmetered local connections, like a WiFi hotspot, should be used opportunistically when available for bandwidth intensive tasks like downloading blocks to preserve metered bandwidth.
Peers.
Both full nodes and light clients rely on a robust peer discovery process to ensure they connect to a diverse set of honest peer nodes. Bitcoin nodes initially connect to preset seed nodes but must always discover new peers in order to stay connected to the "honest" Bitcoin network. The Bitcoin Core full node software has developed robust heuristics to mitigate eclipse attacks from malicious peers and disconnect from misbehaving nodes. Because peer addresses are only 30 bytes each, light clients can use the same heuristics as full nodes to frequently query multiple peers for new addresses.
The best way to prevent becoming isolated from the honest Bitcoin network is to maintain a large, persistent and diverse set of peer connections. To help preserve battery life, light client software should be careful to not wake up a mobile phone too often to gossip about peer addresses or perform other tasks. Light clients should synchronize with their peers at the same fixed time interval to minimize both battery use and peer disconnections.
Both full node and light client security depends on the ability to discover the chain tip of the blockchain with the most work securing it. This process starts by querying all peers for the most recent block headers they know of for the blockchain. A node may need to query its peers at different points to find the point when they first disagree about which chain fork is correct. Light clients should also validate the proof-of-work, timestamp, Merkle root and previous header block hash of each block header they receive and ban peers that serve invalid block headers. Full nodes also validate headers before downloading blocks to prevent denial-of-service (DoS) attacks.
Once the canonical chain tip is determined, a light client can sync block headers back to ensure the chain tip connects to the Bitcoin genesis block -- approximately 50 MB of data. Some light clients using slow or metered connections might initially only load block headers back to a check-point instead of the genesis block. Full nodes should always sync all block headers. Users should be warned of the risk of accepting payments until the entire header chain has been checked. Light clients and full nodes must continue to download 80 byte block headers from each peer to stay in sync with the blockchain as it grows and also query multiple peers for block headers to ensure they are always following the current best block header chain.

[Bitcoin]

Modern light client wallets can detect when a transaction they track appears in a block using BIP-157 block filters. Like block headers, light clients also query their peers to determine the current tip of a filter header chain. BIP-157 light clients download 32 byte block filter headers per block to stay synced with the block filter header chain. In the case of a disagreement between peers about the correct filter header chain, light clients can download the corresponding block to determine which peer is following the right chain. Light clients should ignore block filter chains that include invalid headers and blacklist peers that serve invalid block or filter headers.
Block filters provide greater privacy than the deprecated BIP-37 bloom filter system because light clients do not leak to a full node which transactions they are interested in. Block filters also scale better than bloom filters. Because only one block filter is generated per block, a full node only needs a constant amount of computation to serve multiple light client peers. Light clients themselves can also help relay block filters and gossip block filter headers to increase the number of light client peers each full node supports.
A light client requires at a minimum the block filters for blocks that might contain relevant transactions. Filters are approximately 15 KB per block, so for a transaction that takes six blocks (about one hour) to confirm, a light client would need to download 90 KB of filter data to get an indication of which block the transaction appears in. In the case of a second layer protocol like the Lightning Network, the period to watch for a transaction would be open-ended unless Watchtowers are being used. Watchtowers are particularly useful for light clients on mobile devices both because they are likely to be offline for long periods of time and because they are bandwidth limited.
Blocks-Only Full Node.
To reduce bandwidth consumption, full nodes can be configured to use blocks-only mode to download full blocks, but not gossip about transactions. This is a safe and private way to confirm transactions and does not require block filters because every block is downloaded. A mobile client operating as a pruned blocks-only full node would require up to 2 GB of download bandwidth per week. A mobile client with fast and inexpensive or unmetered internet could operate in this mode to gain the security and privacy advantages of running a full node, but still support light client mode when bandwidth is metered or battery power is limited. The flexibility for a mobile light client to opportunistically operate as a blocks-only full node could help increase the number of full nodes in countries where personal computer usage is less common. Mobile blocks-only full nodes could also serve block filters to light clients without significantly increasing their own bandwidth usage.
Block Filter Light Client.
The new BIP-157 block filter system downloads stripped blocks of up to 1 MB only when a tracked transaction is detected in the chain of downloaded block filters. This is a big improvement over the 2 GB per week of bandwidth needed to watch for transactions with a blocks-only Bitcoin full node. Downloaded blocks can be used to validate block filters, invalidate block filter chains and disconnect from peers that share invalid filters. This creates a way for light clients to prevent invalid filter chains from propagating and makes it possible for light clients to share filter information with each other and reduce the load on full nodes. Light clients can query the entire set of full nodes for recent blocks, not just full nodes that serve block filters. This prevents leaking information about the transactions a light client is interested in and spreads the load among a larger set of full nodes.
Light clients that use BIP-157 block filters do not independently confirm that all transactions in a block adhere to Bitcoin's consensus rules, but instead assume that the chain confirmed by the most hash power follows the correct rules. These nodes can be tricked into following a majority of miners who collude to adopt different spending rules. In a situation like the SegWit2x contentious hard fork, a light client user could have been misled into accepting an invalid payment from a fork of the Bitcoin blockchain. Low bandwidth light client users are also more susceptible to a variety of eclipse attacks that are easier to covertly attempt than a miner led hard fork. Users of second layer protocols like the Lightning Network are also potentially vulnerable to low cost time-dilation attacks.
Electrum Light Client.
Another popular solution for lightweight devices is the Electrum client-server protocol. Instead of downloading block filters and blocks from full nodes to confirm transactions, an Electrum light client wallet requests small Merkle proofs for specific transactions (referenced by a unique transaction ID) directly from one or more servers running the Electrum protocol. Because Electrum servers can log the exact transactions requested by each light client, it is important that clients anonymize their requests using a Tor onion service or similar service. It is possible that many of the current public Electrum servers are operated by private chain surveillance companies for the purpose of gathering data to deanonymize Bitcoin transactions. An additional risk of relying on the Electrum server model is that server operators could maliciously withhold (censor) providing proofs for particular transactions which is more difficult to do under the BIP-157 model.
While there are many fewer public Electrum servers than Bitcoin full nodes, currently very few full nodes serve block filters to light clients. This is expected to change as BIP-157 block filter support has now been merged into the Bitcoin Core software.
An Electrum based light client would require even less bandwidth than a block filter-based light client because it does not need to download block filter headers, block filters or stripped full blocks to confirm transactions. Instead Electrum clients only need to request a Merkle proof of approximately 400 B to confirm each transaction.
The table below summarizes how much metered data would be used by a blocks-only full node, a block filter based light client and an Electrum-based light client. As you can see in the summary, either kind of light client uses dramatically less bandwidth per week, than even a minimal blocks-only full node.
Lightning.
A mobile Lightning client could use a light client as described above for creating, closing and monitoring Lightning channels. A mobile Lightning client could also reduce the bandwidth it uses to gossip about network routes and instead use local routing to rendezvous or trampoline Lightning nodes. Once a Lightning channel has been anchored on the Bitcoin blockchain, updates to the channel do not require internet access but only a direct peer-to-peer data connection to channel partners. Monitoring channels for breeches can be configured to match how often a light client has internet access. The funding transaction for channels can also be periodically re-anchored/spliced if the bandwidth required for updating Watchtowers would be more expensive than a single on-chain transaction. Negotiating channel updates direction with peers over a LAN or radio connection can also increase resiliency, reduce metered internet usage and increase privacy.
Users of Layer 2 protocols like Lightning that monitor and react to channel breaches using light clients are potentially more vulnerable to low cost attacks such as time-dilation or flood-and-loot. A light client can not find out about breach transactions until they appear in a block because they do not gossip about pending transactions. Light clients may also be easier to eclipse if they rely on a small set of peers for block filters.
Examples.
For these examples we describe how a light client could be used to send and receive both bitcoin payments on-chain and using Lightning:
On-Chain.
To confirm a transaction has been received on the blockchain, a light client must complete the following steps:
Demo'ing the Best of Bitcoin During the Halving.
Sync block headers to the current chain tip Sync block filter headers to the current chain tip Submit a transaction to a full node for inclusion in a block Sync block filters from the point the transaction is submitted to a full node Once a block filter matches the transaction, download the corresponding stripped block.
In this example we assume block headers and block filter headers have already been synced back to the genesis block. This requires 50 MB of data initially and about 1 MB per week thereafter to keep synchronized with the current chain tip from multiple peers. The amount of data needed to re-synchronize block headers (1) and block filter headers (2) to the current blockchain tip after some time offline depends on how recently this information has last been updated.
Downloading block filters (4) to watch for a particular transaction depends on how fast the transaction confirms. There is a trade-off between paying low transaction fees and using more bandwidth to download block filters. An hour's worth of block filters would require downloading only 90 KB of filter data. The largest fixed data cost for light clients is downloading a stripped block corresponding to the block filter which matches the transaction they are interested in. This requires up to 1 MB of block data per transaction. If multiple transactions of interest appear in the same block this would require only downloading one block.
Even users with expensive or slow mobile data should be able to confirm Bitcoin transactions from their mobile phone using this system if they can afford 1 MB of data per transaction and 1 MB per week to stay synchronized to the blockchain.
"In regards to your estimates; If it can be implemented that would be relevant and the economics of it could drive more bitcoin users to self custody," said developer Emmanuel Ndangurura from Nairobi, Kenya. Emmanuel noted that a data plan of 175 MB that does not expire, or a weekly bundle of 500 MB, can be purchased in Nairobi for only $0.50. Using the data estimates above, with only 175 MB a user could download a 50 MB app, synchronize block headers and still have data to send and receive payments in a private and self custodial way using block filters.
A Lightning node must perform the on-chain steps outlined above to open channels, close channels and respond to channel breaches. They must also access an internet connection for the following:
Monitor for improper channel closes using one of the following techniques: a) Subscribe to and submit appointments to Watchtowers for each channel update b) Download block filters for the entire period Lightning channels are open Receive network topology gossip for source routing Negotiate the Lightning protocol directly with channel partners.
Unlike for on-chain transactions, the Bitcoin network does not need to be accessed for every Lightning payment. Instead, light clients must access Bitcoin peers within a configurable window of time (e.g., a week) to check their channel counterparty has not tried to fraudulently force-close the channel using an older channel state. Ideally, channel state monitoring could be performed when an unmetered connection is available. For situations where only expensive metered connectivity is available, using Watchtowers (6a) is superior for monitoring channel state. However, clients that do not independently monitor the blockchain (6b) risk losing funds if their Watchtowers do not react to channel breeches.
Watchtowers (6a) would require something on the order of 500 B per Lightning payment made by or routed through a peer to be sent to a Watchtower via an internet gateway. This is much less than monitoring for breech transactions directly (6b) which requires downloading approximately 15 MB of block filter data per week. A channel can also be cooperatively closed or re-anchored/spliced on-chain before it's monitoring window expires if that would be less expensive from a bandwidth or watchtower subscription cost standpoint.
Instead of gossiping about network topology (7), light clients should use private Lightning nodes and not route payments for others where bandwidth is expensive. Instead they should use trampoline routing or similar incremental routing techniques. This would decrease bandwidth usage at the expense of routing privacy.

[Bitcoin]

Actually negotiating a channel update ( requires as little as 2 KB per payment made by the node or forwarded for a peer. Channel updates can be made between nodes on the same local network even when internet gateways are not available.
A mobile Lightning node would need 1 MB of bandwidth for each channel they create or close on-chain. They would need 2 KB to negotiate each channel update and an additional 500 B to register each update with a Watchtower or 15 MB per week to monitor the blockchain directly using block filters.
Mobile light clients can substantially increase the security of Bitcoin users that currently rely on custodial Bitcoin wallets. New block filter-based light clients will allow users with as little as 2 MB of bandwidth per week to confirm on-chain transactions.
By using Watchtowers, mobile Lightning nodes can perform many low-fee transactions without requiring any more metered bandwidth than current onchain transactions. Or Lightning nodes can use block filters to independently monitor the blockchain using less than 20 MB per week.
Mobile light clients can also opportunistically take advantage of unmetered internet access to operate as pruned blocks-only full nodes in "mobile-only" parts of the world. We believe a focus on low bandwidth Bitcoin light clients will help bring the advantages of self custody to more of the world and to eventually lead to greater geographic diversity of Bitcoin full nodes.
Special thanks to Karim Helmy and Will Clark for useful discussions and for reading drafts of this article; thanks also to Alejandro Machado for his encouragement to pursue this project.
This is a guest post by Richard Myers. Opinions expressed are entirely his own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine .
Richard Myers co-founded Global Mesh Labs where he develops open-source software to incentivize decentralized communication networks with Bitcoin.
What are the bandwidth requirements of a mining rig?
How much bandwidth consumption can I expect per 900 Mhash/s rig (for instance) for both pooled and solo scenarios? I'm looking for a ballpark number for the on going requirements, after the initial blockchain download.
With pooled mining, at 900Mhash/s, you'll need a new work unit every 3 seconds or so. Each work unit requires about 256 bytes out and about 768 bytes back. So that's 700 bits per second out and about 2,000 bits per second back. Essentially, zero.
Solo mining is a bit harder to estimate. You will need to receive and relay all new blocks as they are discovered, you will need to receive all transactions that are relayed by nodes you connect to. You can heavily limit the number of other nodes you are willing to connect to, but this will impact your stale shares level and may reduce your transaction fee income.
I measured the bandwidth usage of the client with 60 connections (you can drop down to 8 if you want) and made sure my sample included discovering a block. The inbound average bandwidth was 12Kbps (1.50 KB/s) and the average outbound bandwidth was 9Kbps (1.04 KB/s). So that should give you an idea what solo mining would be like.
Notice that the bandwidth usage is bASICally insignificant in both cases.
For multiple rigs, there is no adjustment in the solo mining cases. All the rigs can be configured to query the single client. The client's bandwidth requirements will be the same.
However, there is a change in the pool mining case. When a new block is discovered, each miner will need a new work unit immediately since its existing unit is stale. This happens on average about every 10 minutes. Effectively, increase the bandwidth requirements by .5% for every additional mining rig. Note that if you run more than one instance of the mining program on a rig, count it as more than one rig. (This still assumes the rigs total 900Mhash/s.)
Bitcoin mining bandwidth.
Rough testing using a 6 x rx 580 mining rig using claymore 147 ethereum miner. Hi everyone im new to Bitcoin mining and new to this forum.
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The coin you are mining the speed at which you are mining at and the type of pool connection you have.
Bitcoin mining bandwidth . I think modem might even work i have noticed that i seem to restart mining on wireless rigs more due to rejected shares. With bitcoin cloud mining you! can start generating your bitcoins without any investment in hardware Bitcoin mining software electricity bandwidth or other hustle full task. Im thinking about setting up a bfl 60ghs mining rig.
Theres a huge new trend out there that almost everyone is trying to get in on even though it isnt exactly new anymore. A few years ago it became such a popular issue on tv channels and on the internet the people started to use bitcoin more often and its price has significantly risen since that time. The inbound average bandwidth was 12kbps 150 kbs and the average outbound bandwidth was 9kbps 104 kbs.
Digiminingtech is one of the top cloud mining company with thousands of trusted mines. Does anyone know how much network bandwidth i will need to run this unit. Solo mining or how to mine bitcoins by yourself if you are on this website you probably know something about bitcoin and how it works.
The actual issue in bitco! in mining lies in the cycles of gpu. The bandwidth for bitcoin! mining pool is recommended to be not more than 10 mb for each hour. Were talking about bitcoin today.
It barley uses any bandwidth at all. Crypto mining bandwidth as one may expect depends on a few factors. We pulled figures from a heterogeneous mining operation to gauge how much networking stress crypto mining levies.
Download 1 hour 257kb x 24 hours 61mb a day185mb a month upload 1 hour 187kb x 24 hours 44mb a day134mb. So that should give you an idea what solo mining would be like. I measured the bandwidth usage of the client with 60 connections you can drop down to 8 if you want and made sure my sample included discovering a block.
In the procedure of mining bandwidth is not an issue.
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[Bitcoin]

What's it take for cryptocurrency Mining farm long term stability?|3:36

[Bitcoin]

How Much Bandwidth Does Mining Take.
Bitcoin mining is when you take records of a transaction and apply them to public records, and does not as much bandwidth as you may have thought. In this process you will find that you need to access the internet and use bandwidth in smaller amounts. Although you do need to use bandwidth you actually do not need to use much. Despite what you may have been told or what you may think you can do Bitcoin mining with only a little bit of bandwidth.
Even when you consider pool mining you will only need around 700 bits per second out and in return only around 2000 bits per second to come back. This essentially equals out to almost zero bandwidth needed, which can be extremely convenient.
When using Bitcoin mining online on average you will need to allow around inbound bandwidth to be 12Kbps and the your outgoing bandwidth speed should be at least 9Kbps. This is to be used when you are interacting and doing Bitcoin mining on your own and not in groups.
When you are looking into doing more than one rig at a time will most likely need to allow for a bit more and quicker bandwidth but you'd be surprised to know it won't need to be too much more than you were using for solo Bitcoin mining. And in doing multiple when you have a new block you will need to create a new work unit each time. Your bandwidth speed will actually only need to increase by five percent for each mining rig that is added. Bitcoin mining is a great way to add the transaction records you need to add to public record and is a wonderful way to allow you to do this without having to have a lot of bandwidth and in high speed capacity.
How Much Bandwidth Does Bitcoin mining Take?
There's a huge new trend out there that almost everyone is trying to get in on, even though it isn't exactly new anymore: we're talking about bitcoin today. Specifically, we're talking about Bitcoin mining, grabbing these juicy, valuable coins directly from the source.
Bitcoin mining has been a huge thing for years now, with miners getting a lot of money out this activity, without having that much competition.. until now. Now, there are huge bitcoin farms trying to get as much as possible before others grab their share, and that affects the way mining is done nowadays.
Since there is a limited number of bitcoins, 21.000.000 to be exact, mining gets tougher and tougher as time goes by, and most miners have decided that they shouldn't be doing it on their own anymore and grouped up to compete.
But among all of the dynamics in mining, there's a question most miners have that is hardly answered on the web: how much bandwidth does Bitcoin mining take? Essentially, is it possible to do so without paying hundreds of dollars at the end of the month in internet fees?
As time goes by and as the amount of bitcoins available to be mined keeps on decreasing, mining starts to be less and less profitable, as it takes a lot of energy to do so, and energy costs a lot of money for miners who do not have the proper equipment. These miners are probably just doing it for the experience, as they are certainly not making money anymore.
There are, however, miners who either mine in teams, or miners who do have the proper equipment and manage to get a lot of bitcoins and stay ahead of costs, doing it as a profitable activity.
When it comes to bandwidth consumption, Bitcoin mining isn't the worst thing in the world and, as a matter of fact, it barely even consumes a lot of bandwidth, whether you are mining on your own with dedicated equipment, or mining in a bitcoin rig with a thousand other miners.
According to most miners on the internet, the bandwith taken by Bitcoin mining activities for a solo miner is very very very low, staying at around 2 MB/hour, which isn't a problem at all ss long as you have an somewhat decent internet provider.
As for mining rigs with a lot of miners, things get a little bit different. as doing things in a team requires a lot more connectivity than doing things on your own, but he consumption isn't as high as one would expect.
According to the stats that we managed to take a look at, the average bandwidth consumption of miners inside a rig did not even hit 10 MB/hour, which is still not a lot if you have a decent internet provider. The costs are, obviously, very low on this end.
The reason for low amount of bandwidth taken is due to the actually low necessity of internet on behalf of mining activities. Bitcoin mining, without dedicated equipment, is done through CPU power, and not through internet power.
Mining bitcoin is essentially solving complex math problems that, as a form of compensation, rewards miners with precious bitcoin, much like students in school get rewarded with good grades whenever they get their math problems correct - except that grades aren't really worth anything, and bitcoins are worth a lot.
Since Bitcoin mining is essentially the solving of complex problems, there isn't a lot of internet involved and that is why dedicated equipment might be a necessity. The equipment help solves the problems so miners can get bitcoin in return. Huge bitcoin farms are, essentially, huge storage houses with computers solving problems in exchange for money, with people maintaining the farm working properly (computers might stop working, power might go down, the property may suffer damage, etc.).
As such, we can conclude that Bitcoin mining is NOT a download, and that while you are mining bitcoin you aren't exactly downloading a huge movie, you are solving problem and simply require internet connection to stay connected to the "mine", if you will.
As a matter of fact, some of the biggest bitcoin farms are located in China and, according to some of the owners of these bitcoin farms, their own internet bandwidth is a piece of crap, and they still manage to run their operations without being completely torn down by this simple problem.
Quite recently, some of the most prominent bitcoin entrepreneurs suggested an increase in the size of blocks so that more transactions can be processed at the same time, but this increase would mean higher computing power is required for mining and, taking into account miners get some fees per transaction as a reward for mining, this would mean that the bandwidth taken would also increase.
Certainly, the amount shouldn't increase to very high numbers, as some of the players in the mining game also have bandwidth problems (the Chinese miners), so you still don't need to be worried about bandwidth consumption for quite some time.
The inbound average bandwidth was 12kbps 150 kbs and the average outbound bandwidth was 9kbps 104 kbs. Rough testing using a 6 x rx 580 mining rig using claymore 147 ethereum miner.
Bitcoin India And Tax Ethereum Mining Bandwidth Usage Apc.

[Bitcoin]

Bitcoin mining bandwidth . A few years ago it became such a popular issue on tv channels and on the internet the p! eople started to use bitcoin more often and its price has significantly risen since that time. Im thinking about setting up a bfl 60ghs mining rig. With bitcoin cloud mining you can start generating your bitcoins without any investment in hardware Bitcoin mining software electricity bandwidth or other hustle full task.
It barley uses any bandwidth at all. Solo mining or how to mine bitcoins by yourself if you are on this website you probably know something about bitcoin and how it works. We pulled figures from a heterogeneous mining operation to gauge how much networking stress crypto mining levies.
So that should give you an idea what solo mining would be like. The coin you are mining the speed at which you are mining at and the type of pool connection you have. Hi everyone im new to Bitcoin mining and new to this forum.
The actual issue in Bitcoin mining lies in the cycles of gpu. Digiminingtech is one of t! he top cloud mining company with thousands of trusted mines. I! measured the bandwidth usage of the client with 60 connections you can drop down to 8 if you want and made sure my sample included discovering a block.
Crypto mining bandwidth as one may expect depends on a few factors. I think modem might even work i have noticed that i seem to restart mining on wireless rigs more due to rejected shares. The bandwidth for Bitcoin mining pool is recommended to be not more than 10 mb for each hour.
Download 1 hour 257kb x 24 hours 61mb a day185mb a month upload 1 hour 187kb x 24 hours 44mb a day134mb. Were talking about bitcoin today. Does anyone know how much network bandwidth i will need to run this unit.
Theres a huge new trend out there that almost everyone is trying to get in on even though it isnt exactly new anymore.
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Theres a huge new trend out there that almost everyone is trying to get in on even though it isnt exactly new anymore. Download 1 hour 257kb x 24 hours 61mb a day185mb a month upload 1 hour 187kb x 24 hours 44mb a day134mb.
Solo mining or how to mine bitcoins by yourself if you are on this website you probably know something about bitcoin and how it works.
Bitcoin mining bandwidth . Rough testing using a 6 x rx 580 mining rig using claymore 147 ethereum miner. The bandwidth for Bitcoin mining pool is recommended to be not more than 10 mb for each hour. So that should give you an idea what solo mining would be like.
I measured the bandwidth usage of the client with 60 connections you can drop down to 8 if you want and made sure my sample included discovering a block. It barley uses any bandwidth at all. The actual issue in Bitcoin mining lies in the cycles of gpu.
The inbound average bandwidth was 12kbps 150 kbs and the average outbound bandwidth was 9kbps 104 kbs. Does anyone know how much network bandwidth i will need to run this unit. I think modem might even work i have noticed that i seem to restart mining on wireless rigs more due to rejected shares.
The coin you are mining the speed at which you are mining at and the type of pool connection you! have. With bitcoin cloud mining you can start generating your! bitcoins without any investment in hardware Bitcoin mining software electricity bandwidth or other hustle full task. Crypto mining bandwidth as one may expect depends on a few factors.
In the procedure of mining bandwidth is not an issue. Were talking about bitcoin today. Digiminingtech is one of the top cloud mining company with thousands of trusted mines.
Hi everyone im new to Bitcoin mining and new to this forum. Im thinking about setting up a bfl 60ghs mining rig. We pulled figures from a heterogeneous mining operation to gauge how much networking stress crypto mining levies.
A few years ago it became such a popular issue on tv channels and on the internet the people started to use bitcoin more often and its price has significantly risen since that time.
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[Bitcoin]

Anglo Asian Mining present at the Proactive One2One Virtual Forum|31:50

[Bitcoin]

Start home Mining with MinerGate in 2020|6:31

[Bitcoin]

Tribler Lab Pays In Bitcoin To Buy 14 4 Petabytes Of Bandwidth.
How Much Bandwidth Dose Bitcoin mining Take Youtube.
Sloudminers Gmbh Die Beste Cloud Mining Anbieter.
Bitcoin mining benchmark.
Information: Les valeurs de minage sont basées sur une vitesse globale de 109,422 GH/s et utilise un Taux de chande en dollar de 1 ETH = $ 463.847. .La récompense par bloc est fixée à 0 ETH et les futures récompense par bloc sont prises en compte. Le temps de résolution d\'un bloc utilisé dans le calcul est 0 secondes. Le prix de l'electricité utilisé dans les calculs est de $0.12 par kWh..
$15717.40 $463.85 $5.09 $69.65 $59.78 $114.55 $59.44 $0.01 $0.00 $0.15 $6.33 $0.02 $0.05 $0.00 $0.00 $0.02 $0.00 $0.01 $15.63 $0.00 $0.03 $0.00 $0.01 $0.00 $0.02 $0.26 $0.08 $7.37 $0.00 $0.01 $0.04 $0.18 $0.48 $0.07 $0.16 $0.17 $0.04 $1.24.
Geforce RTX 3080: Benchmark shows performance in Ethereum mining.
Due to numerous reader inquiries, the website videocardz.com published a short preliminary benchmark before the official end of the test embargo on September 16, which should provide an outlook on the mining performance of the new Geforce RTX 3080 from Nvidia.
Tests were carried out using the NiceHash platform and the DaggerHashimoto algorithm, which was designed as the first version of the Ethereum Ethash mining algorithm with a focus on "hard memory" and ASIC resistance, i.e. it is not necessarily more efficient than on special mining hardware on conventional.
The Geforce RTX 3080 was measured at around 73 to 74 mega hashes per second (one million hashes per second) and reached 82 to 84 MH / s on the output screen, while the hash rate increased to 92 to 93 MH / s with overclocked memory. s increased.
Benchmarking the NVidia GeForce RTX 2080 for Cryptocurrency Mining.
How does the RTX 2080 GPU stack up for cryptocurrency mining? Is it worth the upgrade? We use the Cudo Miner multi-miner to benchmark its performance against the GTX 1080 for four popular mining algorithms.
The NVIDIA GeForce RTX 2080 is part of the new generation of Turing GPU-based cards that has been long-awaited by gamers due to sophisticated new features such as ray-tracing and deep learning super-sampling (DLSS). While this new state-of-the-art piece of gaming kit looks to give a significant performance boost to new AAA software titles capable of taking advantage of these new features, there has so far been no direct word from the manufacturer on how it might benefit crypto miners.
We got our hands on the RTX 2080 and put it through its paces on our desktop mining rig, comparing it with the trusty workhorse NVIDIA GTX 1080 to see how it stacks up against the older technology. Using several currently popular proof-of-work mining algorithms, we've compared the two in terms of raw mining output, as well as hashes per watt and revenue per watt. At-rest power consumption at the wall was also compared with consumption by several energy-intensive algorithms.
The RTX 2080's revolutionary architecture comes at a fair increase in price - read on to find out if it's worth the investment.
Our desktop mining rig is based around an Intel Core i7-5930K CPU and 32GB of memory. We're running Windows 10 build 1083 and made use of NVIDIA's release-day GeForce drivers (version 411.63) for the RTX 2080. These drivers seemed stable on our setup and we saw no unusual errors under the hood on our mining software.
All tests were conducted with beta version 0.5.1 of the Cudo Miner multi-coin crypto mining software. We focused on the proof-of-work algorithms Ethash, CryptoNight variant 1, Equihash, and Lyra2RE v2. Cudo Miner supports concurrent CPU+GPU mining, but we turned off CPU mining for these tests to ensure it didn't interfere with our results for each GPU.
Analysing the results.
Although both cards consume essentially the same amount of power when idle, the RTX 2080 draws a significantly larger amount of power under full load, with the worst case scenario of a 27% increase over the GTX 1080 when running Equihash.
The RTX 2080 boasts an average of 60% hashrate increase over the GTX 1080 across the four tested algorithms.
Based on launch-day market conditions, we found the Ethash-based Ethereum to be the best coin to mine on both cards. Over a projected month of mining, the RTX 2080 delivers $0.12 per watt, with the GTX 1080 coming in at $0.09 per watt. This translates to a monthly revenue of $17.91 for the RTX 2080 versus $10.23 for the GTX 1080, before electricity costs.
We also trialled the free ETHlargement Pill tool, which optimises memory structures on GDDR5X memory-based GPUs such as the GTX 1080 and claims to boost mining performance for Ethash-based coins like Ethereum. This gave our GTX 1080 setup a roughly 40% increase in output. We don't know right now if similar tools may be released in the future that will similarly optimise newer generation cards such as the RTX 2080, but if so, this could result in further revenue boosts.
Both cards were tested in our rig with their factory settings unchanged for core clock, memory clock and supply voltages. Overclocking or voltage modding could change the performance for one or both cards, in which case the performance and efficiency gaps between the two may be different.
The RTX 2080 shows an increase in power and efficiency over the previous generation of cards, but is it worth putting down the extra cash? Right now, if you're looking to get one just to boost your mining revenues, the answer would seem to be no.
Our tests have shown that although there is a slight increase in revenue, the incremental improvement over last generation's tech is far outweighed by the high retail cost of the RTX 2080. In the future, it's possible that new algorithms may take advantage of the new generation of AI-driven computational abilities, but right now there's nothing in the crypto mining world that takes advantage of the full potential of NVIDIA's new offering.
If you're looking for a quick return on your investment, at the moment your best bet is still to try and get a good deal on the second-hand market for previous-generation cards such as the GTX 1080.
A bit about the miner.
In this test, we used an early beta of our Cudo Miner cryptocurrency mining software. We're gearing up for the launch of beta v2, which has a host of new features including the ability to choose which currency you earn.
If you want to be the first to try out v2, or want to give the version we used in this test a go, head over to our homepage.
We have performed this test on standard card settings and configurations as a direct comparison. Nothing has been overclocked or optimized specifically for mining. You would expect to increase hashrates according to the level overclocked.

[Bitcoin]

Top 7 Bitcoin mining Platforms in 2020.
Regardless of your profession and even personal interests, surely you know what Bitcoin is. This cryptocurrency was made public in 2009 and it took the whole world by storm almost immediately. People acknowledge it as an easy way to earn some money.
How to get a Bitcoin? Well, there is a process called mining. In order to start it, you need some special equipment such as FPGA, GPU, ASIC, but also mining software. Taking into consideration how popular cryptocurrencies are, it comes as no surprise that there are multiple platforms available. It doesn't matter if you are a novice, or already have a lot of experience in mining Bitcoin, continue reading this article, because we are going to discuss some widely used platforms.
Due to the fact that it has numerous features that are beneficial for both beginners and experts, we have put this platform on the initial position on our list. Among other systems, CGMiner supports Linux, Windows, and Mac OS X. When it comes to hardware, it can use both FPGA and ASIC. Some of the main features include fan speed control, full monitoring, remote control command, as well as scalable networking scheduler.
If you are looking for a platform where you can manage different kinds of cryptocurrencies (Bitcoin, Litecoin, and others), then you should further investigate EasyMiner. It also allows you to choose between regular mining, ccmining, cgmining, cudamining, and mining via ASIC hardware. There is also a "Moneymaker" option which you can use to mine Litecoin, or on the other hand, you can go with the "Solo" mode which allows you not only to choose the pool you want but also to choose the hash algorithm. If you are wondering about the safety of your funds, EasyMiner uses the Network Hardware ID Layer (NHIL) protocol that takes the security of all the data to the next level. However, there is one downside- it is only compatible with Windows.
If you are late to the party i.e. cryptocurrency mining, then surely you are looking for a platform that is not only easy to use but that comes with multiple handy features. Most newcomers opt for MultiMiner, and we are going to tell you why.
First of all, this desktop-based application work with Windows, Linux, Mac OS X. Secondly, it allows its users to move the mining devices (FPGA, AISC) to different currencies (Bitcoin, Litecoin). This software is automatized meaning that it looks for pools and lucrative altcoins on its own.
In addition, it also works with numerous other devices such as HashBuster Micro, Block Erupter, BFL Bitforce, and so on.
The fact that BitMinter has its own mining pool, which is, by the way, one of the oldest that exists today, is what makes this platform so popular and the reason why people opt for using it. Also, there is no doubt that BitMinter is the best cross-platform Bitcoin mining software. Understandably, it can be used on all major operating systems (Windows, Linux, and Mac OS X).
Since it is built on Java Network Launch Protocol (JNLP), it doesn't require installation, and all one has to do in order to start using it, is to sign up on their official website, follow the instructions to arrange the ASIC hardware, and that's it. When it comes to devices supported by ASIC, these include Block Erupter USB as well as additional Icarus hardware, Butterfly Labs (except Monarch), Antminer U1/U2, and Chili, Red/Blue Fury.
5. BFGMiner.
Written in C, BFGMiner is customizable mining software that is compatible with ASIC/FPGA hardware, and that also has a monitoring feature as well as dynamic clocking and remote interface capabilities. Because of the 'getblocktemplate' decentralized protocol, it is able to start work before already existing activities have been completed, without delaying them.
This platform is also extremely easy to use, since all the user has to do, in order to start the mining process, is to save the .bat file after having entered all the variable values by following the pool settings. When it comes to the devices, one can use Drillbit Thumb and Eight, Ztex's FPGA boards, and Twinfury USB stick miner for mining Bitcoin.
6. Miner-Server.
One thing that usually worries new users is the funds they have to invest in hardware. If you are not ready to make this commitment or simply do not have enough money, you can always go with cloud mining services. Similarly, to the others, there are multiple platforms you can choose between, and we are going to introduce you to Miner-Server.
Unlike some of the already mentioned platforms that provide you with the opportunity to have your own pool, when you sign up for Miner-Server, you will be sharing one with other individuals. This means that all the earnings will be shared among all the participants.
You can opt for one of the numerous packages that are offered by this service, and your hashing power will be in accordance with the one you choose. The duration of these is one year which means that you can change the package after this period expires. What's more, if you bring new users to the platform i.e. if they sign up via your reference, you will receive bonus hash power.
7. Bitcoin Evolution.
The biggest benefit of opting for this platform is that its software scans all the markets and quickly informs you about the ones that are currently most profitable. In addition, you can also program it to go one step further and to open trades in your account.
Moreover, Bitcoin Evolution is suitable for both newcomers and experienced users. Signing up for this platform is also very simple - all one has to do is to fill out a registration form, and their account will be opened. There aren't any registration and other, hidden fees, which is something that people appreciate. If you want to learn about this software in great detail, click here.
All in all, these are some of the most popular platforms for mining cryptocurrencies. As you can see, each of these has a specific set of features and benefits, so all you have to do is to find one that meets all your requirements.

[Bitcoin]

While upside potential exists, CAN stock is wildly risky.
Thanks to the enormous popularity of cryptocurrencies in recent years, the concept of bitcoin and the blockchain has gained mainstream interest and credibility. So much so that now, publicly traded companies focusing on cryptocurrency mining - the highly complex mechanism that blockchain reward tokens are "born" - have become a reality, with Canaan (NASDAQ: CAN ) making its debut on the Nasdaq . Still, a historical moment hasn't translated to profitability, with CAN stock down nearly 67% year-to-date.
Ironically, the problem is credibility, something that Canaan's debut was supposed to cement among the eyes of traditionalists. After all, with the company's initial public offering in November 2019, the Bitcoin mining-machine manufacturer became the first such organization to be listed on the world's second-biggest security exchange. But immediately, CAN stock suffered from severe volatility and it's been a downward trek overall.
Perhaps not surprisingly to bitcoin skeptics, Canaan courted much controversy. If you want to understand why dark clouds hang over CAN stock, please check out Financial Times Alphaville's . In short, the company has a litany of accusations against it, particularly "false and misleading statements to make its financial health appear better than it was."
The attacks against the crypto mining firm attracted short sellers, like Marcus Aurelius Value, which reported "some rather disturbing details about the company's antics in the run up to the Nasdaq listing, and also its three previous unsuccessful listing attempts."
Another fact that doesn't sit well with investors is Canaan's Chinese roots. Frankly, the world is getting tired of China's impact on global affairs in 2020. And the fiasco that was Luckin Coffee (OTCMKTS: LKNCY ) doesn't do any favors.
But is there any potential for Canaan?
The Ludicrous Case for CAN Stock.
In the new normal, I don't think it's wise for most investors to chase "opportunities" like CAN stock. Honestly, you have multiple high-quality names that are on discount. Depending on how the economic winds blow, you could see even bigger discounts later this year.
Still, do contrarian speculators have any chance of profitability with CAN stock? Believe it or not, they do. Let me explain.
As long as Canaan is legitimate in its claims about developing mining hardware utilizing application-specific integrated circuits (ASICs) - and assuming these ASICs perform as advertised - the company could enjoy substantial demand. That's because with cryptocurrency experts generally optimistic on bitcoin prices over the long run, the current difficulty rate in mining the digital token offers a compelling, though risky bullish argument.
Moreover, on a year-to-date basis, the CAN stock price and bitcoin's mining difficulty share an inverse relationship. Granted, the correlation coefficient isn't quite strong at -46%. Ideally, you'd like to see an inverse relationship feature a coefficient toward -60% or "greater."
However, the main takeaway is that generally , as bitcoin difficulty increases, Canaan stock declines in value and vice versa. You would expect this relationship because as Bitcoin mining becomes more difficult, it requires miners to consume more energy. That translates into higher utility bills, making the venture increasingly riskier.
If you think about it, this bASIC summation of the blockchain's mechanism prevents bitcoin supply inflation. But increased difficulty makes mining unsustainable for regular miners, reducing demand for ASICs. Of course, that's bad for CAN stock.
Nevertheless, if the bitcoin price rises dramatically, then it may be worthwhile for miners to take their risks. That's why if you believe that cryptocurrencies will experience another massive move higher, Canaan isn't completely unreasonable.
Big Question Marks Remain.
Still, if you want to gamble in the virtual currency space, you're probably better off going with the tokens themselves. Here's the main problem with CAN stock as a bitcoin alternative: you're introducing another variable into an already volatile sector.
If you follow cryptocurrencies, you know the market is very much like the butterfly effect manifested in a digital ECOSystem. In this case, something that happens in another part of the world could have a devastating effect on your holdings.
But by acquiring a crypto-related publicly traded company, you not only have to worry about the butterfly effect, you also have to worry about the target organization's own fundamentals. If its books are cooked for instance, that's likely going to hit you hard, even if it doesn't affect pure cryptocurrency holders.
At the same time, what happens if bitcoin hits six figures? In that case, CAN stock at these prices would be a once-in-a-lifetime bargain.
Look, we've seen some crazy things happen, which keeps alive the speculative embers here. Just be ready for fireworks - and a few cannonballs - if you decide to partake.
On the date of publication, Josh Enomoto is long bitcoin.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.
Butterfly Labs ships long-awaited ASIC bitcoin miners.
Danny Bradbury.
It's eight months late, but it looks as though Butterfly Labs is finally starting to ship some of its ASIC Bitcoin mining equipment to customers.
The Kansas-based company has repeatedly delayed customer shipments of its ASIC mining products, which were originally announced last June, and were scheduled to ship starting last October. Customers are getting angry, and the company's representatives aren't helping by trading insults on public forums.
On Sunday, though, a Butterfly Labs representative posted on the company's support forum that shipments were beginning. "A few went out Saturday and more will be ready to go Monday," he wrote, adding that the shipments were mostly from orders placed in June last year, almost a year ago.
Butterfly Labs has promised four equipment configurations, ranging from the 5 Ghashes/sec Jalapeno, through to the 1,500 Ghashes/sec Mini Rig. The Jalapeno was touted as a coffee coaster-sized unit that would be powered via a USB port.
In the middle were the "Little Single" and "Single" boxes, offering middle-range hashing power, somewhere between the small and the large rigs.
Customers have been placing pre-orders for 10 months but, aside from a few early units reviewed by the press, none has appeared. Butterfly Labs has a refund policy for customers who are fed up waiting but, nevertheless, the bitcoin forums are buzzing with irritated buyers.
The ASIC business had started promisingly for Butterfly Labs. The firm publicized the specifications for its ASIC mining gear in Bitcoin Magazine last September. Users could expect mining for 1 watt per Ghash/sec, according to the article. All the devices would use custom 65-nm ASICs, which would help to keep the power consumption down.
Within months, though, things went awry. In January, company spokesperson Josh Zerlan posted an apology on the firm's discussion board, acknowledging continuing delays.
"We had fully intended to be ready by October for shipping and deeply regret that we have not been able to meet our timelines," he wrote. "Our delays are a result of the complexity of the project and we have overcome essentially all obstacles at this point and are in the home stretch."
But that final furlong was longer than anticipated. At the end of January, Zerlan posted about a projected February ship date: "If the worst case scenario in every step comes to pass, we are looking at starting shipping around Monday the 18th."
Then, at the end of March, nearly six weeks later, came more news: the company was having problems with the power needed to run the units.
"In the interest of time, we are planning on potentially scaling back units hashing speed as required to accommodate the extra power and shipping multiple units to those that want their units right now," Zerlan noted. The next day, he issued a clarification: "We are not shipping yet."

[Bitcoin]

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[Bitcoin]

Easy Bitcoin Mining Using Minergate!! Works for PC and Mac|4:38

[Bitcoin]

On April 15, Zerlan said the company was getting hardware and software issues "nailed down". He cited the need to re-engineer the power system on the boards, adding it had become clear that the original power consumption specification for the 5 Ghash/sec units wasn't going to fly: "Power usage exceeds the 1w/GH, unfortunately, but it's much better than anything out by 40 - 50 percent, at the wall."
Finally, in April, a small number of devices started appearing. Zerlan said that the company had shipped 35 of them, half to developers and the media, and the other half to customers.
But that didn't take the firm into full-scale production. Early this month, he posted that the chip supplier was "dragging their feet". Three days later, he reported that the Butterfly Labs testing facility was expecting 100 chips in Chicago on May 14.
"We are having some trouble with the new Single board and we are working through the issues now and should hopefully have a resolution before the end of the week," Zerlan added.
Zerlan, who didn't respond to messages from CoinDesk, has been less polite on enthusiast forums. On May 14, the day the chips were meant to arrive, he responded to a question from one customer on the Bitcoin Talk forum who had asked about prior shipment delays.
"You received no answer because your question was so incredibly stupid that it doesn't deserve an answer," Zerlan wrote, adding later, "This is why I don't take you seriously... you can't even form a cogent thought on simple mechanics, such as assembly."
But others who claim experience in the field also have questions. "I have a bit of experience with VLSI and one of the things that we always worry about is the power consumption and the cooling system," said Colorado-based mathematician Charles Hoskinson, director of the Bitcoin Education Project and a student of cryptography.
Butterfly Labs might well fit 5 Ghashes/sec into a small box that sits on a desk, but Hoskinson's concern is around the largest product in its lineup: the 1,500 Ghash/sec Minirig unit, which was originally priced at $30,000, and for which the firm has been taking pre-orders.
"I figured this product couldn't exist," Hoskinson told CoinDesk.
Why? At the 1 watt per Gigahash/sec spec that Butterfly Labs originally suggested, scaling up the power consumption on the 5 GHash/sec units to 1,500GHash/sec would require around 1500 watts. Hoskinson says that chips doing this sort of mathematical heavy lifting need lots of cooling.
"There are many fans running concurrently," he said. "It's a big power supply running very hot."
Nevertheless, at 1 watt per Ghash/sec, it's not impractical. A microwave oven would chew through about as much power.
The Single 5 Ghash/sec Jalapeno units seem to consume decidedly more.
"Imagine six times that power consumption," Hoskinson said.
David Perry, one blogger who received a 5 Ghash/sec unit, discovered that it consumed around 30 watts. (CoinDesk wrote about Perry unboxing one unit in a sneak preview.) That equates to around 6 watts per Ghash/sec. Ars Technica said that its unit consumed 50 watts, which equals 10 watts per Ghash/sec.
Aside from the power consumption, there's been another change from the original spec: the size. No longer is the Jalapeno a coffee coaster-sized unit. It's far thicker. A heat sink seems to have taken up the extra space, as demonstrated by Ars Technica's pictures of the heat sink for the 5 Ghash/sec unit.
"You're talking about something that's about 9 kilowatts of power in the space of a computer case," said Hoskinson, working from those figures. "If they were talking about an eight-foot foot server chassis, then that would make much more sense."
Yet the Mini Rig pictured on the Butterfly Labs web site is clearly far smaller. The device, which uses an eight-inch Nexus 7 for a control panel, appears to be around 18 inches high and perhaps two to two-and-a-half feet long.
Nevertheless, some customers are keeping the faith, waiting for those 1,500 Ghash/sec Mini Rigs ... and losing money daily. Emmanuel Abiodun, founder of UK cloud-based mining company Cloudhashing, ordered four units from Butterfly Labs between February and April. Butterfly Labs recently revised the shipment date for his units from early May to June.
"We would have had two by now," Abiodun said. "At the current difficulty I would be making $15,870 per day. It's a big loss."
Abiodun also had to make contingency plans that almost doubled his existing hardware investment.
"They're saying they are having delays," Abiodun said. "I have not received the units now, and because I fear that I might not get delivery in June, I had to spend $100k today purchasing loads of Avalon equipment to get me running for my customers."
Unlike the other rigs on the Butterfly Labs web site, the 1,500 Ghash/sec rigs on the Butterfly Labs site are listed as out of stock. The company is not publishing current power specifications for any of its products.
Still, Abiodun isn't fazed.
"What they've said in their messages to all of us is that they're finding the power consumption has increased, but to handle the increased power consumption, they might have to double up on a unit," he said. One option is to reduce the amount of chips that they put into a Mini Rig, and send people two instead, along with extra "Singles" - the 5 Ghash/sec boxes - to bump up the hash rate.
But it isn't clear when or if this will happen, and customers like Abiodun could be in for a long wait.
"We don't know when the Mini Rig will be redesigned, how fast it will be, how much it will cost, etc," the Butterfly Labs representative noted Sunday while reporting the Jalapeno shipments. "We are concentrating on getting our backlog of orders shipped."
Customers are getting refunds, but Abiodun maintains that many of them will stay in the queue, eager to finally get the equipment that could see them generating bitcoins far faster than they could with GPUs or FPGAs.
"People are so fed up with waiting they don't care about the power consumption," Abiodun said. "It's a game of getting it sooner than later."
Abiodun added that he just ordered a custom-built, 2,000 Ghash/sec Avalon-based machine consuming 14.6 kilowatts of power.
"That's 7.3 kilowatts per Ghash/sec," he pointed out.
There's at least one more complication in the Butterfly Labs story. The company is likely to have taken in a significant amount of money from customers over the past 10 months, and accepts payments in either bitcoins or dollars. When Butterfly Labs started taking orders in June 2012, bitcoins traded at under $10. This week, the currency once again broke past the $120 mark.
If customers get refunds, will they be refunded with bitcoins at current market value? If not, who gets the profit? Neither Zerlan or Butterfly Labs' president Sonny Vleisides returned our calls or mails.
Such is the level of concern over Butterfly Labs' continuing delays that entire third-party websites have been set up to track the company's progress. Will the firm get more chips from the manufacturer soon? Will they be able to sustain shipments to fill the order backlog, or will shipments continue to sputter and stall?
Many customers are hoping for the best ... and they're determined not to budge from the queue. With bitcoins trading an order of magnitude higher than they were nine months ago, gigahashes are a hot commodity indeed.
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