Bitcoin mining.

[Bitcoin]

AWS cloud mining team.
AWS Mining says that only the most talented professionals, and lists the following individuals listed below as team can achieve their major mission:
Daniel Beduschi - COO & Founder Moheb - CEO, Middle East & Asia Alexander Campos - CFO & Founder Alex Rujana - Business Adviser, Australia Elena Sinyakova - Business Adviser,  Eric Mu - Data Center Manager Arthur Raspovic - Data Center Manager,  Farm Nadal Sleem - Logistical Manager, China Ana Sieben - Marketing Content & Digital Marketing Luciana Salles - Journalist & Social Media Analyst Lety Metzker - Support & Customer Relationship.
Daniel Beduschi appeared on LinkedIn, but no one else in the team was seen again.
There are people with the names they have on the team on LinkedIn, their profiles do not match what is listed on the website which means they do not exist.
It is not uncommon for people to have profiles on LinkedIn, the case becomes slightly different when senior members of an organisation that are considered founders and have very high positions within an organisation do not have any digital foot-print in today's world.
Beduschi, however, has been linked to various scams with most notable ones being BBOM and INTERBBOM.
Also, according to his LinkedIn, he is also the Director of Operations at MyCoinDeal, a company that is used in receiving funds invested by people on the AWS Mining scheme.
Is AWS mining legit or scam?
Even though it cannot be claimed that a company's operation is a scam, until that has been determined in a court, researchers have suggested that AWS Mining has a high likelihood of being a fraudulent operation.
If indeed they guarantee their investors a 200% profit, why does their terms of use claim that;
"neither party is liable to the other for any consequential or indirect loss including, but not limited to, loss of profit, loss of data, lost opportunity cost, loss of enjoyment."
This simply means that they cannot be held liable should you fail to make the guaranteed returns as marketed by them, or even worse, end up losing your data from using the platform.
Furthermore, besides Daniel Beduschi, who has been linked with multiple scams, there is no digital trace of any of the other members of the AWS Mining team.
If already, one of the founders has a past scam history, what makes you think that things will be different with AWS Mining from previous companies he had been at that scammed people?
The way AWS Mining is set up it seems that all revenue is derived from new investors coming on board who are expected to recruit more investors that can actually purchase one of their contracts without which, the business would collapse.
In addition, AWS Mining claims to be an Australian company but does not have any traffic from Australia.
Data derived from Alexa shows that the site started receiving visitors from 2017 even though on the website, AWS Mining claims it started mining in 2015.
In addition, 33 percent of their traffic came from Brazil, 10% from Colombia, 9.4% from Switzerland, 7.1% from Nigeria and 6.2% from the United States.
So, how does a company that is based in Australia, not have a single person visiting the site from there?
In November of 2018, AWS Mining PTY Ltd was reportedly hit by a cease and desist order by the Securities Commissioner for Texas alongside MyCoinDeal for issuing cryptocurrency mining investments, because they offer very high returns to marketers selling the mining contracts.
AWS cloud mining Red Flags.
No comprehensive information on the individuals behind the company Steve Beduschi, one of the founders, has been linked to other bitcoin scams Promises unrealistic high daily returns to investors regardless of crypto-asset price values Data on Alexa shows no traffic from Australia which is where the company has its headquarters The Securities Commissioner for Texas issued a cease and desist on AWS Mining PTY LTD.
AWS mining is a Bitcoin scam... Stay Away!
Research conducted by The 'Staunch indicates that, there is a high likelihood that AWS Mining may be a scam that is targeting individuals, who are new to cryptocurrency mining, and do not recognize the pyramid scheme-like structure of this operation.
We recommend that users do not invest in AWS Mining as the risk of losing money is too high.
It is not unlikely, that you will come across pro-AWS miners that are sharing affiliate links with you, and are singing praises for AWS Bitcoin mining company.
But if you really want to go with my candid advice, it is best you avoid this "cloud AWS mining ponzi" service anyways.
Got any question? Let me know on Twitter. To get free crypto-airdrops, join my Telegram Channel! The running of this blog also relies on donations. If you appreciate my effort to provide you with cryptocurrency guides, you can support me when you Donate with Crypto .
Bitcoin mining faq.
Easyminer its a quality bitcoin, litecoin and many others cryptocoins mining software developed with simplicity in mind. It serves as a GUI for ccminer, cudaminer, minerd or cgminer both opencl or cudamining.
Easyminer support also ASIC mining based on cgminer ports.
For a more detailed explanation on Easyminer features please read here.
Mining in Easyminer Moneymaker mode works in the following way:
You perform mining using your gpu or cpu hardware completing MINING SESSIONS. The scope of a MINING SESSION is to get as many SHARES you can using your hardware. A SHARE is a portion of a larger amount of work acomplished on pool, those shares are transformed in coin earnings at the server level In order to get to the next payment you have to mine at least 1 MINING SESSION and have at least 2 SHARES/SESSION. Shares are reset to 0 everytime a payment its made.
See a detailed answer here :
Easyminer will work in 2 modes :
- will mine in whatever pool you choose and with a cryptcoin currency of your choise.
- will mine in easyminer pool stratum earning you litecoins.
- mining rely on MININS SESSIONS please read more on our dedicated.
help area " How to mine on Easyminer? About Mining Sessions and Shares "
The Stats and Easyminer wallet are available only in Moneymaker mode.
The earnings threshold will be at an interval of 2 hours with minimum 1 share/session.
Every 2 hours of online mining.
Your earnings are anounced by a ballon pop hint in tray.
All earnings are logged in Server Logs file (right click tray to view)
You can increase Ltc Earnings by upgrading your hardware .
See details here :
The reminder will be removed only by donating .
See details here:
First step is to check your spam or junk email box, if there is nothing there you must go to Forgot Password Section enter your Email and the click Restore Password button.
If your account wasnt confirmed it will be manually activated. Afterwards all you have to do is Login using the password and Email you had first signup with.
If you had forgot also the password you will have to reset the password again.
Wallet Section.
Usually when this happends it means that Easyminer has detected a change in your network adapter. Naturally Easyminer is bounded by your network hardware making the mining process unique and unhackable. What you must do is acces your online wallet using the same credentials from Easyminer Moneymaker mode you used on your old account. Earnings are not lost, only that Easyminer created a new unique hardware bound account to prevent the loss of your mining earnings, the new account will have zero earnings earning until you start using it. The earnings are cumulated at the level of your online wallet with the old account earnings.
Accounts older than 1 year will loose their inactive status and gain Disabled status. Disabled status on accounts will reset their earnings to 0 thus a payout will not be available.
A disabled account could be also a banned account due to bad behaviour or hack atempts on pool.
To be able to acces your wallet you must be first logged in. If you don't have an account you must register one.
When accesing your wallet you must make sure your credentials (email and ltc adress)do not contain illegal chars or spaces.
An account inactivation occures on 2 ocassions :
- user gets inactive on pool for a long time.
- user changed his computer or network card. If a new computer or network card is detected and using the same easyminer account credentials a new account will be created . See Wallet Security for more details.
To prevent hackers from stealing funds or prevent Easyminer hidden installs on other computers also known as farm bots Easyminer will ensure the following security actions :
- reset and set inactive any account who is using the same credentials on a new hardware like hdd or network card, if the first time registered Hardware ID on that account do not match.
- ban hacking attempts setting affected accounts inactive and inform user.
No, no inactive funds are lost, earnings are present and counted to the general Wallet amount. Accounts older than 1 year will lost their inactive status and gain disabled status. Disabled status on accounts will reset the payout to 0 thus a payout will not be available.
The General Amount must be at least 0.01 LTC to be able to withdraw .
The minimum withdrawable sum for inactive accounts is 0.002 LTC, if the General Amount is reached.
Easyminer Team will not take any Fees. The only fees payed are the ones from network transactions when funds are withdrawn.
Fees amount are dependant on transaction amount.
Google Litecoin Network Fees for more details.
Privacy.
By registering an account on the Easyminer web site ("Site" or "Service"), a service provided by Open Radio Directory Free Software Non-Profit Fundation ("ORDS", "Fundation", "we", "us", "our"), you agree to be bound by all terms and conditions ("Terms") listed on this page, as well as our Privacy Policy and, for business and commercial accounts, our Data Processing Agreement ("DPA") (collectively, the "Agreement") from our FAQ-Privacy Section.
Account.

[Bitcoin]

FPGA Miner for Cryptocurrency Mining: Why Use FPGA for Mining? FPGA vs GPU vs ASIC Explained|7:56

[Bitcoin]

By using one of our software or registering accounts to our webservice on https://easyminer.net you agree to allow Open Radio Directory Free Software Fundation (represented by Easyminer Team) to collect and store data on our web site. We value your privacy and will only look at your data per your request, for example to help troubleshoot an issue that you communicate to us, or in instances where your traffic volume may be putting an unnecesssary burden on our resources.
Easyminer.net may cancel or delete any account, for any reason, with or without notice, although this would typically only be done for legal reasons such as a illegal activity. White label accounts will be given thirty (30) days notice.
If you wish to cancel your account, you may contact us. All information associated with the account will be deleted within a reasonable period of time. We try to protect information from accidental or malicious deletion, so there may be delays between when you delete something and when copies are deleted from our active and backup systems.
Payments.
Unacceptable usage.
Representations and Warranties.
You represent and warrant to us that you own all right, title and interest in from your mining rigs or ltc adresses owned, and you own or have rights to use all of the hardware used or on or through our website and the user interface.
The information, reports and services included in or available through the Service may include inaccuracies or typographical errors. Changes are periodically added to the information herein. Open Radio Directory Software Fundation and/or its respective suppliers may make improvements and/or changes in the Service at any time, without obligation to notify any person or entity of such changes.
Open Radio Directory Software Fundation and Easyminer.net d oes not represent or warrant that (i) the Service will be error-free or accessible at all times, (ii) defects will be corrected, (iii) the Service or the server that makes it available, are free of viruses or other harmful component, or (iv) the use or the results of the use of the Service or the materials made available as part of the Service will be correct, accurate, timely, or otherwise reliable. You specifically agree that we shall not be responsible for unauthorized access to or alteration of your data, regardless of the party at fault.
Term and Termination.
Either party may terminate this agreement at any time and for any reason. In addition, this agreement will terminate immediately, without notice, if you fail to comply with the terms of this Agreement or if you remove the Script from your web pages.
Upon any termination of this agreement, (i) Roxr will cease providing the Service to you; (ii) you will delete all copies of the Script from your web page(s); (iii) any outstanding balance payable by you to Roxr will become immediately due and payable; (iv) you will not be entitled to any refunds of any usage fees or any other fees; and (v) all of your historical report data will no longer be available to you.
You understand that keeping the Script on your web site consumes our bandwidth (and hence, money) for every page view on your web site. Failure to remove the Script from your web site upon termination may force Roxr to take drastic measures to gain your compliance. Such measures are determined on a case by case basis.
Warranty and Disclaimer.
THE SERVICE, THE SCRIPT AND REPORTS ARE PROVIDED "AS IS" AND THERE ARE NO WARRANTIES, CLAIMS OR REPRESENTATIONS MADE BY THE COMPANY EITHER EXPRESS, IMPLIED, OR STATUTORY, WITH RESPECT TO THE SERVICE, THE SCRIPT, THE DOCUMENTATION AND REPORTS, INCLUDING WARRANTIES OF QUALITY, PERFORMANCE, NON-INFRINGEMENT, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE, NOR ARE THERE ANY WARRANTIES CREATED BY COURSE OF DEALING, COURSE OF PERFORMANCE, OR TRADE USAGE. WE DO NOT WARRANT THAT THE SERVICE, THE SCRIPT OR REPORTS WILL MEET YOUR NEEDS OR BE FREE FROM ERRORS, OR THAT THE OPERATION OF THE SERVICE WILL BE UNINTERRUPTED.
Limitations of Liability.
THE COMPANY WILL NOT BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL (INCLUDING, WITHOUT LIMITATION, LOST PROFITS OR LOST DATA COLLECTED THROUGH THE SERVICE), OR INCIDENTAL DAMAGES, WHETHER BASED ON A CLAIM OR ACTION OF CONTRACT, WARRANTY, NEGLIGENCE, STRICT LIABILITY, OR OTHER TORT, BREACH OF ANY STATUTORY DUTY, INDEMNITY OR CONTRIBUTION, OR OTHERWISE, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE EXCLUSION CONTAINED IN THIS PARAGRAPH SHALL APPLY REGARDLESS OF THE FAILURE OF THE EXCLUSIVE REMEDY PROVIDED IN THE FOLLOWING PARAGRAPH.
THE COMPANY'S CUMULATIVE LIABILITY TO YOU OR ANY OTHER PARTY FOR ANY LOSS OR DAMAGES RESULTING FROM ANY CLAIMS, DEMANDS, OR ACTIONS ARISING OUT OF OR RELATING TO THIS AGREEMENT OR YOUR USAGE OF THE SERVICE SHALL NOT EXCEED THE AGGREGATE FEES PAID BY YOU TO US FOR USE OF THE SERVICE.
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You agree to indemnify, hold harmless and defend Roxr, at your expense, against any and all third party claims, actions, proceedings, and suits brought against Roxr or any of its officers, directors, employees, agents or affiliates, and all related liabilities, damages, settlements, penalties, fines, costs or expenses (including, without limitation, reasonable attorneys' fees) incurred by Roxr or any of its officers, directors, employees, agents or affiliates, arising out of or relating to (i) your breach of any term or condition of this Agreement, (ii) your use of the Service, or (iii) your unauthorized use of the Script code. In such a case, Roxr will provide you with written notice of such claim, suit or action. You shall cooperate as fully as reasonably required in the defense of any claim. Roxr reserves the right, at its own expense, to assume the exclusive defense and control of any matter subject to indemnification by you.
Compliance.
You will not use the Service in any way or for any purpose that would violate, or would have the effect of violating, any applicable laws, rules or regulations or any rights of any third parties, including without limitation, any law or right regarding any copyright, patent, trademark, trade secret, music, image, or other proprietary or property right, false advertising, unfair competition, defamation, invasion of privacy or rights of celebrity.
Miscellaneous.
The Site contains links to external sites. Open Radio Directory Free Software Fundation is not responsible for and has no control over the content of such sites. Information on the Site, or available via hypertext link from the Site, is made available without responsibility on the part of Easyminer. Open Radio Directory Free Software Fundation disclaims all responsibility and liability (including for negligence) in relation to information on or accessible from the Site.
Easyminer.net shall be excused from performance hereunder to the extent that performance is prevented, delayed or obstructed by causes beyond its reasonable control.
This Agreement shall be governed by and construed under the laws of the state of Oregon without reference to its conflict of law principles. In the event of any conflicts between foreign law, rules, and regulations, and Oregon law, rules, and regulations, then Oregon law, rules and regulations shall prevail and govern.
All disputes between the parties arising from this Agreement shall be referred to and finally determined by arbitration of one arbitrator, conducted in the English language in the State of Oregon, U.S.A., and in accordance with the Expedited Arbitration Rules of the World Intellectual Property Organization ('WIPO'). The proceedings shall be secret and the award shall be final and binding on the parties, and each party consents to the award being enforced by order of any court of competent jurisdiction. The parties agree to waive any right to jury proceedings.
The Software is controlled by U.S. Export Regulations, and it may be not be exported to or used by embargoed countries or individuals. The United Nations Convention on Contracts for the International Sale of Goods and the Uniform Computer Information Transactions Act shall not apply to this Agreement. Any notices to the Company must be sent by email to [email protected], and are deemed given upon receipt. A waiver of any default is not a waiver of any subsequent default. You may not assign or otherwise transfer any of your rights hereunder without our prior written consent, and any such attempt is void. The relationship between Roxr and you is not one of a legal partnership relationship, but is one of independent contractors. This Agreement shall be binding upon and inure to the benefit of the respective successors and assigns of the parties hereto.
This Agreement (including any amendment agreed upon by the parties in writing) represents the complete agreement between us concerning its subject matter, and supersedes all prior agreements and representations between the parties. If any provision of this Agreement is held to be unenforceable for any reason, such provision shall be reformed to the extent necessary to make it enforceable to the maximum extent permissible so as to affect the intent of the parties, and the remainder of this Agreement shall continue in full force and effect.
Changes to this Agreement.
This Agreement is active as of the date below and is updated from time to time. We will notify you via your registered email address or a notice on this website prior to any significant changes becoming effective. You should periodically review this page for the latest information.
This Data Processing Agreement ("DPA") amends the Terms of Service ("Terms") for business and commercial Customers from our FAQ-Privacy Section . If there is any conflict or inconsistency between this DPA and the Terms, this DPA will govern. Subject to the amendments in this DPA, the Terms remain in full force and effect.
This DPA reflects our mutual agreement on the terms governing the processing and security of Personal Data in connection with the General Data Protection Regulartion ("GDPR"), effective in all European Economic Area ("EEA") member states as of May 25 2018 from our FAQ-Privacy Section . This DPA only applies to the extent that the GDPR applies to the processing of Personal Data .
Data processing.

[Bitcoin]

BitCoin Mining FPGA Card|4:06

[Bitcoin]

The parties acknowledge and agree that:
Easyminer is a Data Processor of Personal Data under the GDPR. The following data will be collected on registration: username, email and ltc adress are mandatory items; full name, telephone and other items available through the membership area are not mandatory and are editable by users after registration. Customer is a Data Controller or Data Processor, as applicable, of Personal Data under the GDPR. (If Customer is a Data Processor, Customer warrants to Roxr that Customer's instructions and actions with respect to Personal Data, including its appointment of Roxr as another Data Processor, have been authorised by the relevant Data Controller.) Each party will comply with the obligations applicable to it under the GDPR with respect to the processing of Personal Data.
By entering into this DPA, Customer instructs Roxr to process Personal Data only in accordance with applicable law:
to provide the Data Processing and any related technical support; as further specified via Customer's use of the Data Processor services (including in the settings, preferences, and other functionality) and any related technical support; as documented in the Terms of Service, Privacy Policy, and this DPA; and as further documented in any other written instructions given by Customer and acknowledged by Roxr as constituting instructions for purposes of this DPA.
Roxr will comply with Customer instructions (including with regard to data transfers) unless EEA law to which Roxr is subject requires other processing of Personal Data by Roxr, in which case Roxr will inform Customer (unless that law prohibits Roxr from doing so on important grounds of public interest).
Data deletion.
The Service includes tools for Customers to manually edit or delete Personal Data as needed, e.g. per End User request; the Personal Data will be deleted from our systems as soon as reasonably practicable and within a maximum period of 180 days, unless EEA law requires storage.
Deletion of a Customer account is available only be manually request on the contact us section for our website.
Upon deletion of a Customer account, all Personal Data will be deleted from production and backup systems within 1 year.
Data security.
Easyminer.net maintains reasonable measures to protect Personal Data against accidental or unlawful destruction, loss, alteration, unauthorised disclosure or access. Secure (HTTPS) access is forced for Customers so login credentials and Personal Data is secure in transit. Backend access to servers and data, whether physical, shell, or administrative interfaces, is limited to employees who require it to perform their duties. No contractors or subprocessors are authorized for such access.
If Easyminer.net becomes aware of a security breach leading to the accidental or unlawful destruction, loss, alteration, unauthorised disclosure of, or access to, Customer's Personal Data on our servers ("Incident"), we will notify Customer, via Customer's registered email address or through his website, of the Incident promptly and without undue delay, and take reasonable steps to minimise harm and secure Customer's data. Customer is responsible for providing a valid email address and ensuring their email address is current and valid. Our notification of or response to an Incident will not be construed as an acknowledgement of any fault or liability with respect to the Incident.
Customer agrees that they are solely responsible for their use of the Data Processor services, including securing the account credentials, systems and devices Customer uses to access the Processor Services. Easyminer.net has no obligation to protect Customer's Personal Data that Customer elects to store or transfer outside of Easyminer.net systems.
Data rights.
The GDPR gives EEA End Users the legal right to view their Personal Data, update incorrect Personal Data, and request Personal Data to be deleted. If we receive a request from an End User in the EEA in relation to Personal Data processed for a Customer, we will advise the End User to submit their request to Customer, and Customer will be responsible for responding to such request using the tools we have provided on our Site for handling Personal Data requests.
Customer agrees to use all reasonable measures to verify the identity of an End User before sharing or modifying Personal Data. Per GDPR recital 64, "the controller [Customer] should use all reasonable measures to verify the identity of a data subject [End User] who requests access, in particular in the context of online services and online identifiers."
Data transfer.
Customer agrees that Personal Data may be transferred to Easyminer.net in the United States of America, where it will be stored and processed if the webhosting or webservices are changed due expring contracts or legal issues with the current service provider. Easyminer.net will provide at least the same level of privacy protection for EEA Personal Data as required under the U.S.-EU and U.S.-Swiss Privacy Shield frameworks.
Changes to this DPA.
This DPA is effective as of the date below and may be updated from time to time. We will notify you via your registered email address or a notice on this website prior to any significant changes becoming effective. You should periodically review the DPA online for the latest information.
GDPR (General Data Protection Regulation)
Yes, Easyminer.net is GDPR compliant!
The General Data Protection Regulation (GDPR) is an European Economic Area ("EEA") Privacy -EEA law on data protection and privacy for all individuals within the EEA. It also addresses the export of personal data outside the EEA. The GDPR aims primarily to give control to citizens and residents over their personal data and to simplify the regulatory environment for international business by unifying the regulation within the EEA.
The GDPR extends the scope of EEA data protection law to all foreign companies processing data of EEA residents. It provides for a harmonization of the data protection regulations throughout the EEA, thereby making it easier for non-European companies to comply with these regulations.
In other words, the law protects every EEA citizen when they visit your web site, no matter where you or your business is located anywhere in the world. Hence our default privacy settings are strict and the only personal data logged by default is a randomly generated Unique ID (UID) stored in a cookie.
GDPR considers a UID to be "personal data", even though it does not identify who you are or reveal anything else about you. However, per Article 6 of the GDPR, use of this cookie does not require a visitor's direct consent because it is "necessary for the purposes of the legitimate interests" of a web site using the service (knowing how many unique visitors access a site is a vital statistic and hence a "legitimate interest").
We are not lawyers and this is not legal advice. Consult your attorney.
European Economic Area (EEA)
The EEA consists of all European Union ("EU") and European Free Trade Association ("EFTA") member states, which are listed below for your convenience.
The personal data of web site visitors who reside within the EEA is protected by the GDPR .
When your visitor privacy settings are set to "EEA only", visitors from these countries will not log any personal data to our servers (other than a UID tracking cookie, lawful per the "legitimate interest" of any web site running analytics for counting unique visitors), unless you flag them as having consented to full tracking.
Austria Belgium Bulgaria Croatia Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hungary Iceland Ireland Italy Latvia Liechtenstein Lithuania Luxembourg Malta Netherlands Norway Poland Portugal Romania Slovakia Slovenia Spain Sweden Switzerland United Kingdom.
Agreement.
I agree that Easyminer and all projects found this website and openradiodirectory.com are Free Donationware, this means every payment towards any of this projects must be in the form of Donations.
I agree that every future payments in money (not cryptocoins) for Donationware Membersip and or Nag Screen removal Codes on this site should be and would be treated as Donations from my part.
I agree that Bonuses (Nag Screen Codes) are offered as gifts, they are not mandatory or do not represent a legal obligation from Easyminer Team part.
I agree that Easyminer will pop-up from time to time (ussually at 3 hours ) a window reminding users about the Donationware license.
About Donationware.
Donationware is a licensing model that supplies fully operational unrestricted software to the user and requests an optional donation be paid to the programmer or a third-party beneficiary (usually a non-profit ). [1] The amount of the donation may also be stipulated by the author, or it may be left to the discretion of the user, based on individual perceptions of the software's value. Since donationware comes fully operational (i.e. not crippleware / Freemium ) when payment is optional, it is a type of freeware .
Nag Screen Windows are just pop-up windows h olding informatin regrading the software or the Donationware Licesing, this windows can be closed by users. Nag Screen Reminders does not affect functionality of software and can be disabled using a special code.
If you do not Agree with the Donationware Agreement please uninstall or do not use any of our Open Radio Directory Free Software Projects.
This Privacy Policy ("Policy") describes how Open Radio Directory Software ("ORD", "we", "us", or "o)ur") collects, uses, and shares information provided to us through our website easyminer.net (the "Site"), and the services available through our Site ("Easyminer", "Service", or "Services").
We collect information about users of our Service (our "Customers"), as well as our Customers' end users ("End Users") (collectively, "you", "your", or "yourself"). Note that Customers are also End Users , as we use our own Service to track itself. Some of the information collected may be Personal Data (defined as personal data of End Users that is processed by Roxr on behalf of Customers). Your rights regarding Personal Data are described in this Policy.
By using the Service, you agree that your information will be handled as described by this Policy, and that your usage and any disputes over privacy are subject to this Policy and our Terms of Service ("Terms") which are incorporated by reference into this Policy.
We value the privacy of our Customers and will not share any information about them or their traffic data with any third party for any purpose, unless required for legal reasons such as a government subpoena.

[Bitcoin]

Sold all my GPUs and went full FPGA! Review of the Blackminer F1 Mini + unboxing and setup|10:44

[Bitcoin]

We value the privacy of End Users. By default, the Service does not log any Personal Data of End Users ;
However, the General Data Protection Regulation ("GDPR from FAQ-Privacy Section"), a law in the European Economic Area ("EEA from FAQ-Privacy Section"), does consider our Unique ID ("UID") tracking cookie to be Personal Data, even though it does not identify who a visitor is (e.g. their real name) or reveal anything else about them. Tracking UIDs of End Users is lawful without consent as it is well within the "legitimate interests" of a web site to know how many unique visitors are visiting their site, which is best accomplished with a UID cookie.
If you are an EEA citizen, you have the legal right to access, correct, and/or delete your Personal Data. Customers may contact us directly to do so, while End Users should send their inquiries directly to our Customers.
Information we collect.
From Customers.
End Users.
Unique ID tracking cookie ("UID") and IP Personal Data UHDID (unique hardware id required by the pool server)
Customers.
To provide and maintain our Service to you. To help understand how Customers use our Service on an individual and aggregate basis in order to improve it. To help with customer service needs, such as troubleshooting issues that you report to us. To contact you with important account notifactions, such as a failed payment or subscription about to expire. Other research and analytical purposes such as Service performance, Customer behavior and retention, and common navigations through the Site.
To provide reports or communication for our Customers on web site .
How we share your information.
easyminer_userdata -- If you check "remember me" on the login page, this cookie is set for 1 year to automatically log you in on future visits. Deleted if you manually "log out" of the Site.
To the best of our ability, we protect all of our data from loss, misuse, and unauthorized access and destruction.
Secure (HTTPS) access is forced for our Site to help keep your information, including login credentials, secure in transit. You are responsible for using a strong and unique password for the Site to help keep your account secure. We are not responsbile for any unauthorized activity on your account because of lost, weak, or compromised passwords.
Personal Data rights.
EEA citizens have the legal right to access, correct, and/or delete their Personal Data. EEA Customers may contact us directly to do so, while EEA End Users (with whom we we have no direct relationship) should send their inquiries directly to the Customer in question.
If we receive a request from an End User in relation to Personal Data processed for a Customer, we will advise the End User to submit their request to Customer, and Customer will be responsible for responding to such request using the tools we have provided on our Site for handling Personal Data requests. Customer agrees to use all reasonable measures to verify the identity of an End User before sharing or modifying Personal Data.
Customers can request delete their account using the contact us from the membership page. We try to protect information from accidental or malicious deletion, so there may be delays between when you delete something and when copies are deleted from our active and backup systems.
We retain Personal Data on behalf of our Customers for as long as needed to provide our Service to them, or as necessary to comply with our legal obligations, resolve disputes, and enforce our agreements.
Our Service is not designed for children under 13. If we discover that a child under 13 has provided us with personal information, we will delete such information from our systems.
If you have any questions about this Policy or would like to make a complaint, please contact us by email.
Open Radio Directry Free Software.
Changes to this Policy.
This Policy is active as of the date below and is updated from time to time. We will notify you via your registered email address or a notice on this website prior to any significant changes becoming effective regarding Personal Data. You should periodically review this page for the latest information.
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How much can I earn on the partnership program?
You will earn 20% to 100% every time your referral gets upgrade depending on your freeMiningBitcoin version. If you have freeMiningBitcoin V1.0 - your profil will be 20%, 30% for V2.0, 40% for V3.0, 50% for V4.0 and 60% for V5.0.
How long does it takes to withdraw money?
Withdrawal applications are generally processed instantly, in rare cases withdrawals can be processed manually and take longer..
What is the minimum amount for withdrawal and upgrade?
Minimum withdrawal amount is 0.002 BTC. Minimal upgrade amount is 0.03 BTC.
If I pay for an upgrade how long is it active?
freeMiningBitcoin upgrades have no limits and works as long as our data centers are powered. Our uptime is 99% so upgrade confidently.
Can I upgrade freeMiningBitcoin with money on my balance?
freeMiningBitcoin currently does not support upgrading from internal freeMiningBitcoin wallet yet. You can only upgrade using external wallets.
I haven't found an answer to my question. How can I get in touch with you?
You can get in touch with us via our contacts page .
Bitcoin FAQ (Frequently Asked Questions)
Bitcoin FAQ (Frequently Asked Questions) will describe you the most interesting issues of concern which were met by Bitcoin users.
1 General information 1.1 What is Bitcoin? 1.2 What are bitcoins? 1.3 Who invented Bitcoin? 1.4 How can I get bitcoins? 1.5 Does Bitcoin guarantee easy money? 1.5.1 Is Bitcoin an Internet scam? 1.5.2 If I install the client, can I earn? 1.5.3 Is Bitcoin a suitable investment? 1.6 Can I buy Bitcoin via Paypal? 1.7 How new bitcoins are generated? 1.8 How much Bitcoins exist now? 1.9 How are called the parts of Bitcoin? 1.10 How much is one Bitcoin? 1.11 How will work the two timed reduced award for block, when numbers become small? 1.12 If the coins are no longer created, will be the new blocks created? 1.13 But if the coins will no longer exist, what happens if bitcoins are lost? 1.14 If every transaction is transmitted through the network, does not traffic increase from Bitcoin? 2 Economy 2.1 Why are bitcoins so valuable? What do bitcoins have? 2.2 Is bitcoin a soap bubble, a kind of fraud? 2.3 Do Bitcoins work according to Ponzi model? 2.4 Whether bitcoin doesn't bring unfair profit for those who began buy bitcoins earlier than others? 2.5 And if somebody buys all bitcoins, which exist? 2.6 And if somebody creates a new chain of blocks or digital currency which will force out bitcoin? 2.7 Do prices manipulations are possible in Bitcoins? 3 Payments' sending off and receipt 3.1 Why should I wait for 10 minutes in order to spend money I have got? 3.2 Should we wait for transaction confirmation in order to buy or sell wares by bitcoins? 3.3 Bitcoins have been already sent to me, but I did not receive it yet! Where are my bitcoins? 3.4 Why my Bitcoin address changes constantly? 3.5 How much will be commission? 3.6 What is happening when somebody sends bitcoins to me, but my PC is off? 3.7 How much time lasts a synchronization while the first establishment of Bitcoin customer? What is happening during this process? 4 Network 4.1 Should I set my firewall in order to launch Bitcoin? 4.2 How works a mechanism of feasts' finding? 5 Mining 5.1 What is it? 5.2 Is mining used for conduction of useful calculations? 5.3 Is it a waste of electricity? 5.4 Why can't we use calculations, which can be also applied for other aims? 5.5 How can we prevent miners from creation of the blocks without transactions? 5.6 How the principle "confirmation of carried out work" helps to protect Bitcoin? 6 Safety 6.1 Can miners come to an arrangement with each other in order to take money or to change all work of Bitcoin system? 6.1.1 Can miners unite and take money? 6.1.2 Can they do it on circumvention of existing rules of Bitcoin system? Is there any way to sack and earn a lot of money unfairly? 6.2 Can miners change Bitcoin features? 7 How to Invest in Bitcoin? 7.1 Why Invest in Bitcoin? 7.2 How to Invest in Bitcoins and Where to Buy? 8 See also 9 Resources.

[Bitcoin]

Design and Implementation of a Bitcoin Miner Using FPGAs|12:41

[Bitcoin]

General information [ edit ]
What is Bitcoin? [ edit ]
The main article: Bitcoin.
Bitcoin is a peer-to-peer digital currency that can be safely and instantly sent to any person in the world. This currency is like electronic money, which you can share with friends or use to pay for your purchases.
What are bitcoins? [ edit ]
Bitcoin is a currency unit of Bitcoin system. Abbreviation "BTC" is usually used; it means price or number (e.g. "100 BTC"). Physical bitcoins also exist, but, generally, bitcoin is just a number connected to the address. Physical bitcoins are just objects like coins with inbuilt number.
Who invented Bitcoin? [ edit ]
Satoshi Nakamoto is the name used by the unknown person or persons who developed bitcoin, authored the bitcoin white paper, and created and deployed bitcoin's original reference implementation. As part of the implementation, they also devised the first blockchain database. In the process they were the first to solve the double-spending problem for digital currency using a peer-to-peer network. They were active in the development of bitcoin up until December 2010.
How can I get bitcoins? [ edit ]
There are many ways to get btcoins:
You can take bitcoins for goods or services. The most common way to get bitcoins is exchange. There are exchange services, which exchange bitcoins for conventional currency. You can find people in your country or city, who sell bitcoins for cash. Participate in mining pool. If you have a lot of equipment for mining, you can do it yourself and try to create a new block (today it brings 25 bitcoins and all commission for translations included in the block). Get bitcoins on websites that give them for free.
Does Bitcoin guarantee easy money? [ edit ]
Considering Bitcoin is a new technology, at first it can be unclear what it is and how it works. People often see Bitcoin as one of three options:
Something like Internet scam. A loophole in market economy, the use of which guarantees a steady surge in capital inflows. Safe investment that is almost certain to bring profit.
In fact, none of these options reflects the truth. Let's dwell on each of them.
Is Bitcoin an Internet scam? [ edit ]
If you spend much time online, you, probably, often meet an advertising of different scams. These ads usually promise big benefit for simple work. Such schemes are likely to be financial pyramids/matrices, which simply want to cash in on their employees and don't offer anything worthwhile. Most often they convince people to buy certain block of shares that will bring ones pots of money. But in fact, customer has to spread more those ads without any gain. Bitcoin has nothing in common with such schemes. Bitcoin does not promise superior returns. Developers can't cash in on you. The biggest plus is Bitcoin can't be bought without the owner's agreement. Bitcoin is an experimental virtual currency, which is going to be a success or fail. None of the developers expects to get rich because of it.
If I install the client, can I earn? [ edit ]
The majority of people using Bitcoin does not benefit from this, and client in the form it is distributed does not give you the opportunity to earn. Few people with special highly productive equipment earn Bitcoins by "mining" (creating new Bitcoins), using special software, but Bitcoin should not be considered as a path to wealth. Most users participate in this project, because they consider its concept interesting, but they do not benefit from it. Bitcoin makes its first steps. Maybe great things await it in the future, but now it's just a technology that can be offered to the people interested in conceptual projects or new technologies.
Is Bitcoin a suitable investment? [ edit ]
Bitcoin is a new, interesting e-Currency, and its value is not supported by governments or organizations. Like other currencies, it is worth something, because people are willing to exchange it for goods and services. Its exchange rate is constantly fluctuating, sometimes very strong. Bitcoin lacks wide recognition; it is vulnerable to manipulation by persons without large assets. Security incidents, such as hacking a website and leakage of the accounts, can cause serious problems with uncontrolled selling of currency. There are other probable fluctuations that can trigger feedback and cause much larger changes in the exchange rate. Anyone who invests in Bitcoin, should understand the risk he takes, and consider Bitcoin as a currency with a high level of risk. Later, when the Bitcoin becomes more famous and widely recognized, it may stabilize, but at this point everything is unpredictable. Any investment in the Bitcoin must be exercised with a clear risk management plan.
Can I buy Bitcoin via Paypal? [ edit ]
You can buy the physical bitcoins with PayPal, but it will be more difficult and expensive with electronic coins, because of the significant risk for the seller. There is a method of buying Bitcoins via PayPal, but it is subject to a large commission. Using VirWoX you can buy Second Life Lindens (SLL) on Paypal, and then convert them into bitcoins. In such a way you lose about 6%, but will be able to get bitcoins pretty quickly, unlike a bank transfer. This method works because you do not buy Bitcoin directly via Paypal, you buy SLL (which is permissible under Paypal's conditions), and then exchange them for Bitcoin. Despite you may find someone who wants to sell you Bitcoins via Paypal, (perhaps using # bitcoin-otc), most exchanges does not work with PayPal. It is related to the high incidence of fraud: people paid for bitcoins via Paypal, received their bitcoins, and then sent a complaint to Paypal about not getting a purchase at all. In this situation, PayPal often takes the side of the cheating buyer, so sellers have to insure against risks by higher commissions or complete rejection of Paypal. Purchasing Bitcoins from individuals is still possible, but the seller must be sure the buyer will not complain to PayPal, to get his payment back.
How new bitcoins are generated? [ edit ]
New bitcoins are generated through the "Mining" process. During the process, which is similar to a permanent lottery, hosts are awarded with Bitcoins every time they find the solution to a mathematical problem (and thus create a new block). Creation of block is a work proof and complexity of the process varies with the growth of network. Award for the creation of the block is adjusted automatically. Thus every four years of the networking half of bitcoins is created, that have been created over the past four years. During the first 4 years (January 2009 - November 2012) 10,499,889.80231183 Bitcoins (approximately) have been generated. Every four years, this amount will be divided in two; it will be equal to 5,250,000 over the next four years, then 2,625,000, and so on. Thus, the total number of Bitcoins will never exceed 20,999,839.77085749. Blocks are mined every 10 minutes on average, and for the first four years (210,000 blocks) each block contained 50 new Bitcoins. Since the amount of processing equipment used in mining increases, the difficulty of creating new Bitcoins is growing. This complexity factor is calculated every 2016 blocks; it is based on the time it took to create the previous 2016 blocks.
How much Bitcoins exist now? [ edit ]
Their number is constantly increasing. The number of existing coins = number of blocks, multiplied by the coin value from the block. The coins cost from the block is 50 BTC in each of the first 210,000 blocks, 25 210,000 BTC in the next 210,000 blocks, then 12,5 BTC, 6,25 BTC and so forth. How many parts bitcoins can be divided to? Bitcoin can be divided to 8 decimal places. 0,00000001 BTC is the minimum volume that can be processed in a transaction. It is also called "Satoshi" in honor of the founder of Bitcoin. If necessary, the protocol and software can be modified to work with smaller amounts.
How are called the parts of Bitcoin? [ edit ]
There are many disputes how to call units smaller than 1 bitcoin. The most popular options are:
1 BTC = 1 Bitcoin 0,01 BTC = 1 CBTC = 1 santibitcoin (is also mentioned as bitsent) 0.001 BTC = 1 mBTC = 1 millibitcoin (is also mentioned as Mbit or millibit or even bitmill) 0.000 001 BTC = 1 μBTC = 1 microbitcoin (is also mentioned as ubit or microbit)
Supra are international SI prefixes for hundredths, thousandths and millionths parts. Most often they argue about a separate designation for 0,01 BTC, because it is unlikely this part will be worth something as the economy of Bitcoin grows (of course, it will not be equivalent to 0,01 USD, GBP or EUR). The use of existing national symbols of money, such as "cent", "nickel", "dime", "pence", "pound", "penny", is not supported, too, because it is a worldwide currency.
How much is one Bitcoin? [ edit ]
"Satoshi" is the only exception; this word refers to the smallest existing currency face value. 0.000 000 01 BTC = 1 Satoshi, which is named in honor of Satoshi Nakamoto, Bitcoin's inventor alias.
How will work the two timed reduced award for block, when numbers become small? [ edit ]
In the end reward for block declines from 0.00000001 BTC to zero, Bitcoins will be no longer created. Reward for the block is calculated as the bitwise shift of 64-bit integer to the right, so it is divided by two and rounded down. This integer is equal to BTC * 100000000, because all balances and Bitcoin cost are stored in the client as unsigned integers. If the original award was 50 BTC, then how many 4-year periods bitcoins have to be mined to reach zero? How much time it takes to create all the coins? The last block generating coins will be the block number 6929999, which should be created in 2140. The total circulating number of coins will be 20,999,999.9769 BTC. Even if permitted accuracy increases from current 8 decimal places, the total circulating number of BTC will always be slightly below 21 million (assuming that everything else will remain unchanged). For example, with accuracy of 16 after the decimal point we finally would get 20,999,999.999999999496 BTC.

[Bitcoin]

FPGA Mining Is Back! Crushes GPU Mining with $20-57 a Day per Card|12:07

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If the coins are no longer created, will be the new blocks created? [ edit ]
Sure! Even before the coins are over, commissions for the transactions included in the blocks will certainly become more rewarding for the creation of new blocks than the coins themselves. When all coins are created, these commissions will support the use of Bitcoin and Bitcoin network itself. The number of blocks that can be created is unlimited.
But if the coins will no longer exist, what happens if bitcoins are lost? [ edit ]
Because of a law of supply and demand bitcoins will cost more, provided their number reduces. So if some bitcoins are lost, others will grow in price to compensate. If the value of Bitcoins increases, number needed for purchase will decrease. This is deflationary economic model. If the average transaction size is reduced, the transaction is likely to be held using Bitcoin smaller parts, such as millibitcoins («Millies») or microbitcoins («Mikes»). Bitcoin protocol uses the basic block from one hundred million Bitcoins ("Satoshi"), but unused bits allow you to work with even smaller parts.
If every transaction is transmitted through the network, does not traffic increase from Bitcoin? [ edit ]
Bitcoin protocol allows using lightweight clients that can work without downloading on your computer the entire transaction history. As traffic grows and this point is becoming increasingly important, methods are developed to implement such concepts. Major network nodes will become more specialized services. With the help of some changes in the software full Bitcoin nodes will be able to catch up with VISA and MasterCard, but it will require a fairly humble hardware (one high class server by today's standards). It is worth noting that the MasterCard network structure is similar to the Bitcoin - it is also a broadcast peer-to-peer network.
Economy [ edit ]
Why are bitcoins so valuable? What do bitcoins have? [ edit ]
Bitcoins are valuable because they are useful and their quantity is limited. The cost of bitcoins will be stable depending on that how many sellers will sell wares and services using bitcoins. Here you can find the list of sites, where you can pay by bitcoins.
When we are talking that any currency is confirmed by the gold it means that theoretically you can trade this currency for gold. Bitcoins as well as euro or dollars are confirmed by nothing except sellers, who accept it.
There is a common wishful thinking that bitcoins' prime cost increases at the expense of electricity cost, necessary for its production. Production prime cost is not equal to the cost - employment of the great quantity of the staff in order to dig a big hole is very expensive and inefficient that's why it is not valuable. Also in spite of deficit is the most important demand for useful currency, deficit itself is not valuable. For example your fingerprints are in deficit - it is a limited quantity of it all over the world, but this fact doesn't increase its value for other persons.
It should be also added that in spite of law of demand and supply, which is valid here, it doesn't guarantee that bitcoins will be valuable in the future. In case there will be any confidence in bitcoins, so the fact that the quantity of bitcoins will decrease, is not important. Demand will decrease and speculators in foreign currency will try to sell it as soon as possible. Such a situation can be observed by example of state currencies in that cases when the state falls to several separate states and the currency of this state is not issued any more (as the central body issuing new money disappeared). In spite of limited quantity of money in circulation, its value decreases as the confidence in its spending power is decreasing. Of course Bitcoins system doesn't have such a central control and issue body, but this is not a guarantee of protection from currency confidence decrease because of different unexpected factors.
Is bitcoin a soap bubble, a kind of fraud? [ edit ]
Yes, it is, as euro and dollars are soup bubble and a fraud. Its value consists in exchange rate and it doesn't have any other base. If everybody won't accept dollars, euro or bitcoins, such a bubble will blow out and the value of your savings will be zero. But such possibility is hardly probable: even in Somalia where the state has fallen to pieces 20 years ago, Somali shillings are still accepted for payment.
Do Bitcoins work according to Ponzi model? [ edit ]
In Ponzi scheme its founders persuade investors that they will grow rich. Bitcoin doesn't give such guarantees. There is no central body, there only people who are building economy.
Ponzi scheme is a play with zero amount of money. Those who have been involved to the scheme earlier will grow rich at the expense of those who were involved later. Bitcoin has win-win variants. Those who began using of bitcoins earlier can get profits at the expense of bitcoins' cost increase. Those who have been involved later and all society in general, will win due to stable, fast, cheap and widely-distributed p2p currency.
The fact that people being involved earlier will get more profits does not mean that bitcoin works according to Ponzi scheme. All reliable investments have the same features.
Whether bitcoin doesn't bring unfair profit for those who began buy bitcoins earlier than others? [ edit ]
Those who began use bitcoins earlier than others take a risk of unproved technology investing. Due to their actions they help the bitcoins system become such a system it has been already became and to develop in the future. That's why these people will get well-earned profit.
In any case each created bitcoin will change its owner scores of time as a result of exchange, so that profits from the first trade will be insignificant comparing to profits got from bitcoin currency circulation. A lot of early users of bitcoins sold their bitcoins less per 1 USD, it is significantly less than today's cost of this currency.
Is it possible that lost cash-box and limited quantity of bitcoins can be a reason of uncontrolled deflation, which will destroy the bitcoin system?
Suspense concerning bitcoin system destroy by deflation is unreasonable. As opposed to other currencies which constantly go through the inflation because of money issue by the state, bitcoin cost will supposedly increase. Bitcoins are unique due to its limited quantity (21 million). This amount is known from the moment of project launch and bitcoins are creating very fast.
Users of bitcoins face also a danger which is unknowns for users of other currencies: if bitcoin system user lost his cash box, his money will disappear forever or until he will find his cash box. Money can disappear not only for him but also from the circulation and they won't be available any more. As people will lost their cash boxes, the quantity of bitcoins will decrease gradually.
So bitcoins have a unique problem. While a lot of currencies go through the inflation, bitcoin will supposedly go through feedback influence. With the lapse of time bitcoins' quantity increase will slow down. Limited quantity of this currency, being in the circulation, will decrease significantly. And as bitcoin will be less, the cost of bitcoins will constantly increase according to law of demand and supply.
So that the future of bitcoins is a kind of mystery, as nobody knows exactly what will happen to the currency which becomes even more valuable with the lapse of time. The most of economists affirm that low inflation rate is very good for currency, but nobody can be sure what happens to the currency which goes constantly through deflation. In spite of deflation isn't a very rare phenomena, the constant deflation isn't possible for any currency all around the world. There will be a lot of discussions of this process, but there is no experience of such model work all around the world, that's why all affirms of economists are just guess works.
In spite of all above there is a mechanisms intended for the fight with clear consequences. The majority of currencies can be unpractical due to too strong deflation. If it is possible to buy a new car per 1 Canadian USD, so what should Canadian do when they would like to buy bread or candy? Even a penny will be very valuable. There is a simple decision for this in the bitcoins system: endless divisibility. Bitcoins can be divided and sold by such tiny parties, as it will be comfort for the owners. So it doesn't matter how valuable bitcoins are, they can be used by people for transactions of any volumes. Generally endless divisibility should allow bitcoins to exist even in cases when a lot of people lost their cash-boxes. Even if there will be just 1 bitcoin all over the world or even its part, so bitcoin can exist. Today is too early to say about possibility of such events, but deflation constitutes likely less menace that a lot of people suppose.
And if somebody buys all bitcoins, which exist? [ edit ]
Bitcoins' markets are based on competition and it means that the cost of bitcoins will increase or decrease depending on supply and demand on certain price level. Just little part of bitcoins, which exists nowadays, is available for sale on foreign exchange market. So in spite of byer with a lot of money has a technique opportunity to buy all bitcoins available for sale, so he has to wait when all other holders of bitcoins offer it for sale. So that even the most rich and resolute buyer can't get all bitcoins.
Moreover new currency is issued every day and it will continue during ten years; thought issue speed will decrease insignificantly with the lapse of time. People dealing with mining are not obliged to sell their bitcoins that's why on the market all currency won't be available. But such a situation doesn't guarantee that markets are invulnerable for prices manipulation. Insignificant volume of the currency is demanded in order to decrease or increase its market-value that's why bitcoins is unstable assets.
And if somebody creates a new chain of blocks or digital currency which will force out bitcoin? [ edit ]
One of the most important mechanisms of bitcoins' safety is based on that it's very difficult to branch the chain of blocks. Choosing between two chains miner usually chooses the longest one, it means the chain with the difficulties hash. In such a way we get guarantee that each user can spend his bitcoins one time only and the fraud is excluded. The structure of the block chain is created in such a way that there are a lot of branches and there is a probability that the deal will be rewritten by the longest branch in case itself was in the shortest one. With the deal age the probability about its rewriting decreases and there is a chance that it will be constant. Though thanks to blocks' chain structure people won't be able to spend more bitcoins then they have. It is a probability that it will be accidently cancelled.
The new blocks' chain will make a network more vulnerable to attacks of double payment. Nevertheless the creation of new chain is a very difficult process so such a risk is not significant.

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Blackminer F1 Mini after 2 months: Costs \u0026 Earnings (FPGA Mining by Hash Altcoin)|4:54

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Bitcoin will always choose the longest blocks' chain and it will determine comparative length of two branches according to its hashes' complexity. As a hash of each new block is created on the base of the previous one, so by creation of the block with more complex hash it's necessary to be ready to make more calculations then it was made by the network from the moment of offshoot and till new block creation. It stands to reason that powerful computing power is necessary and as bitcoin increases constantly and gets widen so this index will increase.
The possibility of appearance of other more perfect virtual currencies which can force bitcoin out and make it outdated and useless constitutes a menace.
Bitcoin development demanded serious intellectual resources and ingenuity, but this currency has become the first sui generis, it became a prototype, vulnerable before more developed competitor, but there is no guarantee that it will save its position. If historical principles of Internet operate, so analogous system based on the same principles, will change and pass ahead of bitcoin, when its main defects will be shown. Friendster and Myspace ware damaged in such a way because of Facebook, Napster has been thrown down by Limeware, Bearshare and torrent applications and Skype has been smashed by Microsoft Messenger.
It is possible that it sounds gloomy so keep in mind that appearance of new and possibly better virtual currencies doesn't predict bitcoin's demise. If bitcoin gets its sure footing and wide recognition and it confirms its stability how private online currencies of the next generation will be created, so the future currencies even with the better architecture won't constitute a menace. It is called a network effect.
Do prices manipulations are possible in Bitcoins? [ edit ]
Nowadays low market capitalization of bitcoin means that any investor with enough quantity of money can significantly change/manipulate the rate. Is it a problem?
It is a problem but in the case when you are investing in bitcoins for short period of time. Manipulator can't change the main principles based in the system that's why during 5-10 years these principles will overcome any short time manipulations.
Payments' sending off and receipt [ edit ]
Why should I wait for 10 minutes in order to spend money I have got? [ edit ]
10 minutes is an average period of time for block search. This process can take significantly more or less time; 10 minutes is just an average meaning.
With the help of the blocks (known as a "confirmation" in Bitcoin graphical interface) the Bitcoins system matches what does anybody have? After the block has been found everybody agrees that you have these coins so that it is possible to spend them again. Until it is not found some network units can have outdated information and it can make a fraud of the system more possible by returning the transaction. The more confirmations have a transaction the less risk of refund is possible. 6 blocks and 1 hour are enough in order to make a refund unpractical in terms of calculations. And measures are much more better that they are by Credit cards where charge backs can be possible during 3 months from the moment of the first deal!
10 minutes period of time has been chosen by Satoshi as a compromise between the moment of the first confirmation and work volume, wasted for working out of the branched chain. If the block is received so other miners don't know about it at once and until they compete with a new block bit not account on its base. If anybody mines a new block on the base of the old chain, so the network will accept just one of them and all computing work will be wasted. For example, if miners know about new blocks per 1 minute and new blocks appear every 10 minutes, so 10% of the network operation will be wasted. Time increase by accepting a new clock decreases this process.
Lets' imagine that bitcoins system achieves a Mars. If planets are on the distant points of their orbits, so the signal needs 20 minutes in order to get each other. On condition that the search of the new block takes 10 minutes, miners on the Mars will drop for 2 blocks behind the miners on the Earth. They almost can't create blocks by themselves. In case we had to work with such delays so the time of receiving of a new block should be increased at least several hours.
Should we wait for transaction confirmation in order to buy or sell wares by bitcoins? [ edit ]
Yes, you should, in case transactions can't be carried out in reverse direction. Software intended for work with Bitcoin doesn't confirm transaction until 6 blocks (confirmations) more will be found. It is very difficult to cancel transactions when they are at the big distance in the chain. But it is very easy to do before the first confirmation. If transaction can't be made in reverse direction, it is recommended to get 2-6 confirmations depending on the sum of transaction.
When people ask this question, they usually think about bitcoins' usage for example in super markets. Such transactions can be made in reverse direction: if somebody tries to use money twice, it can work several times, but as a result one from such deals will be noticed and penal consequence in the shop in majority countries is much more serious than income from such a theft.
Spheres of usage which demand immediate work out of the payments, for example, it is necessary to protect super markets or coin-operated machines from such risks. There is a way how you can return unconfirmed payment:
"Attack of Finni" consists in block mining by trespasser, which has a refund of certain quantity of coins. As soon as he finds the decision he does his shopping very fast and then it relays a block, accepting in this way coins back. First of all such an attack is very dangerous for wares directly, which are being sent at once, for example music tracks and currency at exchange. As a trespasser can't choose a time for attack, it is not important for the shops where you can't choose when exactly to pay (for example because of queues). Attack can be failed in case somebody else will find a block consisting dealing about this purchase before you create your own block. So organization dealing with bitcoin can decrease a risk just asking a seller to wait a little bit.
As this attack is difficult enough, sellers selling wares automatically and instantly should correct their prices in order to include the cost of such a fraud or special insurance.
Bitcoins have been already sent to me, but I did not receive it yet! Where are my bitcoins? [ edit ]
Don't panic! There is a range of reasons why you can't get your bitcoins and there is a range of ways of these reasons' definition.
The last version of Bitcoin-Qt customer shows how much time we need in order to download the block chain. Just aim a cursor at the sign located in the right low edge in order to know the status of your customer. You can also check a status of your transaction on Blockchain.info site, just having made a search according to your address. If there is a deal in the list, so you have just to wait a little bit until it will be on and will be reflected in your customer. If in the deal is used a coin, by which has already been made a transaction, so it can have a low priority. Transaction can take more time in case paid commission was low. If there was any commission at all so transaction can get very low priority and it will reach a block just in several hours and even days.
Why my Bitcoin address changes constantly? [ edit ]
In spite of postal and e-mail addresses, Bitcoin one is used just one time. It means that each time when you receive a transaction you have to generate a new address.
Though technically it is possible to get coins several times on the same address, it endangers safety of your cash-box and confidentiality of Bitcoin network and it makes also impossible to determine those who has sent coins and why.
How much will be commission? [ edit ]
In order some dealings get a confirmation; a certain commission should be paid. Commission is worked out and received by miner. The latest version of Bitcoin customer evaluates upon necessity an appropriate commission.
Commission is added to the payment sum. For example, if you send 1234 BTC and a customer demands a commission 00005, so 12345 BTC will be withdrawn from your account and a receiver will get 1234 BTC.
Commission can also be obliged, because dealing looks like an attack at the Bitcoin system. For example it can be difficult to carry dealing out in case there are recently used bitcoins. Your cash-box tries to avoid generation of onerous transactions but it is not always able to do it: means in your cash box can be new and can consist from the majority of tiny payments.
As commission depends on data quantity, from which dealing consists but not from the quantity of sent bitcoins, it can be very low (0.0005 BTC for 1000 BTC) or unfairly high (0.004 BTC for 0.02 BTC it's about 20%). In case you are getting insignificant sum of money (for example payments from mining pool) so commission by sending will be higher than by conduction of ordinary consumer and business operations.
What is happening when somebody sends bitcoins to me, but my PC is off? [ edit ]
Bitcoins are not just being sent to your cash-box; the program uses such term in order we can use a currency without studying of new notions. Your cash-box is necessary just in case you would like to spend your coins.
If somebody has sent coins to you while your customer was off, and you launched a program later, so coins will receive your account at once. So when your customer is being launched, it downloads blocks and knows new dealings including those applying your cash-box.
How much time lasts a synchronization while the first establishment of Bitcoin customer? What is happening during this process? [ edit ]
A popular Bitcoin customer from the bitcoin.org works as a full Bitcoin unit: it can do all duties of Bitcoin system; it is not just a customer. One of the principles on which the work of the full Bitcoin units is based consists in not following the rules by Bitcoin system participants. While the synchronization the software works out carried out dealings and checks by itself whether all rules were followed correctly.
Usually after synchronization finish, the program uses tiny quantity of PC sources.
While the first establishment of customer-cash box, its prime check demands significant activity of the hard disk, so that synchronization duration depends on disk and processor speed. It can take from the several hours till several days etc. More than 40 hours can be necessary for constant synchronization on the slow PC, so check energy conservation settings of your PC in order to be sure that it won't off hard disk in case it will be without tending for several hours. While the synchronization you can use Bitcoin customer, but you won't see your last payments till the customer gets the points of their conduction.
You can try alternative easiest customer - a kind of Multibit or super-easy electrum customer, though they are not well protected and are a little bit unfinished and don't fix P2P network.
Network [ edit ]

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8 x Xilinx VCU1525 FPGA Crypto-Mining Rig Demo|8:35

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Should I set my firewall in order to launch Bitcoin? [ edit ]
Bitcoin will be connected to other units using as a rule TCP port # 8333. In case you would like a Bitcoin customer was connected to majority of units, it is necessary to allow outgoing TCH connections thrpugh the port # 8333. Testnet uses TCP port # 8333.
If you wants to restrict rules of firewall for several IP-addresses, so it is possible to find stable units n the list of reserve units.
How works a mechanism of feasts' finding? [ edit ]
Bitcoin finds feasts by sending messages inside its own network and each unit saves data base of famous feasts in order to use it in the future. In order to support this process, Bitcoin needs the list of the prime feasts. This list can be made manually, but usually the program gets this information with the help of the request of domain DNS names with automatically renewed lists. If it doesn't help, the program uses built-in list, which is renewed sometimes in new versions.
Mining [ edit ]
What is it? [ edit ]
Mining is a process of usage of computing power necessary for implementation of new bitcoins in the system and for protection from the refunds.
Mining is a computing of the block hash, which includes reference on the previous blocks, hash of carried out operations and disposable number. If the meaning of the hash is less than current goal (which is inversely to the complexity), so new block is being created and miner gets created bitcoins (at the moment 24 BTC per one block). If hash is more than the current goal, so new number is used and new hash is being accounted. Each miner does it millions times per the second.
Is mining used for conduction of useful calculations? [ edit ]
Mining calculations concern bitcoin only and are not connected with other distributed computing projects. They serve in order to provide safety of Bitcoin system, what is rather useful.
Is it a waste of electricity? [ edit ]
We can't say that expense of electricity necessary for creation and providence of free standard is waste. Moreover services necessary for operating of widely-distributed nowadays standards (banks and credit companies) also spend an energy even more than Bitcoin.
Why can't we use calculations, which can be also applied for other aims? [ edit ]
In order to provide safety of the Bitcoin network, calculations inside it should have some peculiar features. These peculiarities are incompatible with calculations intended for other goals.
How can we prevent miners from creation of the blocks without transactions? [ edit ]
Commissions for transactions are stimulus for miners. In case we need to realize some minimum quantity of transactions in the block, miners would enter this number. As the network growths a commission for block creation decreases and miner become more dependable on commissions which can compensate its costs, that's why the problem of zero blocks without transactions will tail with the lapse of time.
How the principle "confirmation of carried out work" helps to protect Bitcoin? [ edit ]
Bitcoin uses the principle of confirmation of carried out work Hashcash with insignificant adoptions. In order to get general idea about mining process, just imagine such a source code:
Work made by miners consists in repeated increase of "one-time number" until hash-function gives a rare meaning which is low than certain goal threshold level. (by other words, hash begins from the certain quantity of zeroes, in case you represent it by the fixed length).
So you can see that there are any peculiar calculations by mining. Miners just try to find some number (so called one-time number) which (in aggregate with payload) will make a hash with peculiar features.
Advantages of usage of such mechanism consist in easiness of inspection results. Taking into account payload and specific one-time number, just one hashiring call for hash properties inspection is necessary. As hashes can be found just with the help of brut forces (it is a method of search of any possible variants)so it can be used as a confirmation of carried out work, because we see that somebody has used great computing powers in order to find right temporary meaning (one-time number) for payload. This function is being used in Bitcoin system in order to provide safety of different its aspects. A trespasser who wants to punch harmful data in the network should provide necessary confirmation of the work. And until honest miners have more computing powers, they will always pass ahead.
Safety [ edit ]
Can miners come to an arrangement with each other in order to take money or to change all work of Bitcoin system? [ edit ]
There are two questions. Let's see them separately.
Can miners unite and take money? [ edit ]
Mining - is a process of creation of new blocks in the chain. Each block includes the list of all transactions made in Bitcoin network from the moment of creation of the last block and also hash of the previous block. New blocks are produced i.e. generated by Bitcoin clients, whose function consists in guessing of the last symbols in the codes, which are named hashes and are created with the help of information from the previous blocks. Bitcoin users can download special programs for mining with the help of which you can single out certain quantity of computing power for guessing on the base of the hash of the previous block. Those who will be the first who make the right calculation cresting a new block will get bitcoins as a kind of compensation.