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Old 12th May 2021, 11:04 AM   #121
Thermal
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Originally Posted by ChrisBFRPKY View Post
If anyone wants to start a discussion about how to cpu mine Monero that is certainly within the topic of this thread.

I have a cpu mining farm pointed at Monero and I'm glad to help anyone who wishes to get started.
You still seem to be leaning on the *how* rather than the *why*.

Again, not tryna throw shade, but a discussion about how to work for someone else for free =/= learning about a topic.
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Old 12th May 2021, 11:16 AM   #122
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Originally Posted by ChrisBFRPKY View Post
If anyone wants to start a discussion about how to cpu mine Monero that is certainly within the topic of this thread.

I have a cpu mining farm pointed at Monero and I'm glad to help anyone who wishes to get started.

What exactly is a "mining farm", Chris? A dedicated CPU bought for the express purpose of mining? Or something more ...involved, than that?


Also: What's the machine actually doing, while the CPR's all awhirr full strength doing the mining? What's it doing, you know?
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Old 12th May 2021, 11:24 AM   #123
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Say what you will, fellow-skeptics, but I'm enjoying this thread.

To begin with, I've already, in the course of this thread, learnt -- and learnt effortlessly -- more about this crypto business than I could possibly have learnt in this much time by reading a book or something. And I haven't even actually downloaded anything, other than that white paper. (Well, depends on the book, I guess, and how fast I can read, but still.)

This venture of Chris, taken at face value, is pretty much cool, actually. Free learning.

And, should you dip your toe in -- I'm not yet sure I myself will, depends on what I make of the risk to my old home computer -- there's at least a small chance of making some money.

And, hey, even if this turns out to be some kind of scam -- no offense, Chris, just counting out the possibilities, is all -- even then, this is kind of more fun than the same old same old flat earth or bigfoot or God this or God that or philosophy this philosophy that debunking. I mean, if debunking is called for, this is a novel kind of debunking, then, for everyone to pit our collective wits against.

All in, like I said, I'm enjoying the thread. So far.


eta:
Although, a sobering after-thought : I've not yet tried this thing, because I'm still weighing the risks to my machine (and therefore to the stuff I've got in there). I realize there are people here, fellow-members, who've already committed. Seems kind of ...callous, to go chortling away while others take risks one isn't taking oneself. Their business, their call, but it seemed right to add this qualification, before I go right back to enjoying the thread, this time with no belated afterthought slash twinge of conscience.

Last edited by Chanakya; 12th May 2021 at 11:27 AM.
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Old 12th May 2021, 11:24 AM   #124
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Originally Posted by JoeMorgue View Post
I think I'll just go down to the horse track and bet on whichever horses pisses last before the race starts.
Well, it would be lighter
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Old 12th May 2021, 11:40 AM   #125
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Originally Posted by Thermal View Post
You still seem to be leaning on the *how* rather than the *why*.

Again, not tryna throw shade, but a discussion about how to work for someone else for free =/= learning about a topic.
You seem to be disconnected from how Cryptocurrency works. Why someone would wish to mine Monero is tied to the current price of $443 each. What that means is someone can choose to use their cpu to work for them and mine a coin worth $443 each, keep or sell that coin or fraction of it for cash.

I can offer assistance on "how" to do this for anyone that's interested.

Originally Posted by Chanakya View Post
What exactly is a "mining farm", Chris? A dedicated CPU bought for the express purpose of mining? Or something more ...involved, than that?


Also: What's the machine actually doing, while the CPR's all awhirr full strength doing the mining? What's it doing, you know?

A mining farm is just a bunch of computers dedicated to one thing, mining. They're usually high end equipment that do a lot of work with lower energy consumption. Usually they're part of a mining pool of many machines working together as a network.

When a cpu is mining on a network, it's creating and also verifying a series of blocks to be added to the blockchain. These are math intensive operations. That's why the cpu works very hard when mining. For each block it creates, or solves, it gets paid a reward. That's as far as I can go as I'm not privy to the types of algorithms used or how each achieves block creation.
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Old 12th May 2021, 11:46 AM   #126
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The trick with these things is separating wheat from chaff (duh). So far, I thought Bit and Doge would be winners, although Doge will be a relatively short term spike bc redditors and the impulsive power of legions of apes.

This ROI seems abysmally run, but promises benefits that others don't, like low power use and layperson equipment and tech savvy. That puts it squarely in Get Rich Quick for Dummies hustling, in my book. And from our initial reactions here, ultra low power already seems to be a false claim. It sounds more and more like dev seeking free CPU usage at the expense of the greedy yet lazy. Ordinarily right up my alley, but with no value at all, I'd need to know more.
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Last edited by Thermal; 12th May 2021 at 11:48 AM.
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Old 12th May 2021, 11:46 AM   #127
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Originally Posted by Chanakya View Post
Say what you will, fellow-skeptics, but I'm enjoying this thread.

To begin with, I've already, in the course of this thread, learnt -- and learnt effortlessly -- more about this crypto business than I could possibly have learnt in this much time by reading a book or something. And I haven't even actually downloaded anything, other than that white paper. (Well, depends on the book, I guess, and how fast I can read, but still.)

This venture of Chris, taken at face value, is pretty much cool, actually. Free learning.

And, should you dip your toe in -- I'm not yet sure I myself will, depends on what I make of the risk to my old home computer -- there's at least a small chance of making some money.

And, hey, even if this turns out to be some kind of scam -- no offense, Chris, just counting out the possibilities, is all -- even then, this is kind of more fun than the same old same old flat earth or bigfoot or God this or God that or philosophy this philosophy that debunking. I mean, if debunking is called for, this is a novel kind of debunking, then, for everyone to pit our collective wits against.

All in, like I said, I'm enjoying the thread. So far.


eta:
Although, a sobering after-thought : I've not yet tried this thing, because I'm still weighing the risks to my machine (and therefore to the stuff I've got in there). I realize there are people here, fellow-members, who've already committed. Seems kind of ...callous, to go chortling away while others take risks one isn't taking oneself. Their business, their call, but it seemed right to add this qualification, before I go right back to enjoying the thread, this time with no belated afterthought slash twinge of conscience.
RE the highlighted. Don't throw any money at this!

A quick search for 'roi coin reddit' takes one to the reddit page,

then reading the 'upcoming ROI swap' thread gives warnings and links to 'BitCoinTalk ROICoin Exit Scam' which goes in to more detail, history shenanigans etc.

This, I think, is just messing around with valueless (atm) crypto that ChrisBFRPKY has generously donated to help people who are new to cryptocurrency so they can get a feel for it.

Last edited by p0lka; 12th May 2021 at 11:50 AM.
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Old 12th May 2021, 11:51 AM   #128
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Originally Posted by p0lka View Post
RE the highlighted. Don't throw any money at this!

A quick search for 'roi coin reddit' takes one to the reddit page,

then reading the 'upcoming ROI swap' thread gives warnings and links to 'BitCoinTalk ROICoin Exit Scam' which goes in to more detail, history shenanigans etc.

This, I think, is just messing around with crypto that ChrisBFRPKY has generously donated to help people who are new to cryptocurrency so they can get a feel for it.
Agreed. This coin is just for learning and fun. There is the possibility it could get a second wind, so don't throw it away, but for now it is worthless and only useful as a learning tool.
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Old 12th May 2021, 11:52 AM   #129
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Chris.

I'll buy your cryptocurrency if you buy the Brooklyn Bridge from me.
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Old 12th May 2021, 11:54 AM   #130
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Originally Posted by ChrisBFRPKY View Post
You seem to be disconnected from how Cryptocurrency works. Why someone would wish to mine Monero is tied to the current price of $443 each. What that means is someone can choose to use their cpu to work for them and mine a coin worth $443 each, keep or sell that coin or fraction of it for cash.

I can offer assistance on "how" to do this for anyone that's interested.
Not Monero. I'm referring to your approach and this thread.

When someone offers a learning thread on a subject I know little about, in interested. When the bait is pulled and switched to how to install a wallet, with virtually nothing by way of the title's promise, I get leery.

Can't say this enough: not dissing you or crypto or even ROI. Consider it feedback on your recruitment technique.
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Old 12th May 2021, 11:55 AM   #131
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Crisply explained, thank you, Chris.

Couple more questions, if I may, following on on that:


Originally Posted by ChrisBFRPKY View Post
A mining farm is just a bunch of computers dedicated to one thing, mining. They're usually high end equipment that do a lot of work with lower energy consumption. Usually they're part of a mining pool of many machines working together as a network.

How many, in your case, if I may ask? And when you say "network", do you mean part of an external network, some group you're part of, or do you mean this "bunch" of machines you yourself have bought for this express purpose?


Quote:
When a cpu is mining on a network, it's creating and also verifying a series of blocks to be added to the blockchain. These are math intensive operations. That's why the cpu works very hard when mining. For each block it creates, or solves, it gets paid a reward. That's as far as I can go as I'm not privy to the types of algorithms used or how each achieves block creation.

This I guess is more to do with programming and hardware, computer stuff that is, rather than crypto per se, and I don't know if that's your thing: but it seems ...well, weird, that if you do this mining thing at all, then you must necessarily do it at full blast of your CPU power. Not everyone would use dedicated machines --- although security-wise that's exactly what does seem to me the prudent thing to do, at this point.

Is that how it is with all cryptos, that mining necessarily means either idling or sprinting full strength, no jogging along at comfortable (that is, partial) CPU usage?
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Old 12th May 2021, 11:59 AM   #132
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Originally Posted by Thermal View Post
The trick with these things is separating wheat from chaff (duh). So far, I thought Bit and Doge would be winners, although Doge will be a relatively short term spike bc redditors and the impulsive power of legions of apes.

This ROI seems abysmally run, but promises benefits that others don't, like low power use and layperson equipment and tech savvy. That puts it squarely in Get Rich Quick for Dummies hustling, in my book. And from our initial reactions here, ultra low power already seems to be a false claim. It sounds more and more like dev seeking free CPU usage at the expense of the greedy yet lazy. Ordinarily right up my alley, but with no value at all, I'd need to know more.
If you are intrigued by cpu mining, you can read more about it at the Nicehash website. I'm not going to place any affiliate link or anything as I don't do that and you can find them yourself with a quick search.

They do offer the common user a way to mine cryptocurrency with their cpu, gpu, or asic miner equipment. They pay you in Bitcoin but I'm sure they retain a portion for their services.

Anyway, it's a quick way to get started if you're interested in mining and later perhaps once you get the hang of it, you can join a pool on your own and mine for yourself without their assistance for increased profits.
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Old 12th May 2021, 12:00 PM   #133
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Originally Posted by Chanakya View Post
What exactly is a "mining farm", Chris? A dedicated CPU bought for the express purpose of mining? Or something more ...involved, than that?
Something like that. For those looking to make money from it, most of the actual processing is likely be performed in the Graphics Processer not the CPU.

This may seem a little strange, computer graphics are actually just one example of a huge class of problems that can be solved using 3x3 matrix math. The idea is that you take a huge algebraic problem express it as a spare matrix which can be solved using a bunch of 3x3 matrix calculations. The advantage is that the individual matrix calculations are independent so that can all be done in parallel even to the point of doing them on completely different machines. The Most of worlds supercomputers work this way.


Originally Posted by Chanakya View Post

Also: What's the machine actually doing, while the CPR's all awhirr full strength doing the mining? What's it doing, you know?
The computer is solving mathematical problems for the sake of proving it has solved them. This "proof of work" serves as the justification for awarding new bitcoin. This is *supposed* to be a solution to the "problem" of governments being able to produce new money at will. I guess the idea is that money shouldn't be created from nothing, there should be some work involved, even if it's just pointless busy work that doesn't actually produce or achieve anything.

In the real world a central bank that can expand or contract the money supply in response to economic conditions is a huge benefit, so the underlying concept is flawed. Not only is there no problem that needed fixing, the "solution" would break key aspects of the economy and makes bitcoin altogether unsuitable for use as a currency.
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Old 12th May 2021, 12:02 PM   #134
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Originally Posted by p0lka View Post
RE the highlighted. Don't throw any money at this!

A quick search for 'roi coin reddit' takes one to the reddit page,

then reading the 'upcoming ROI swap' thread gives warnings and links to 'BitCoinTalk ROICoin Exit Scam' which goes in to more detail, history shenanigans etc.

This, I think, is just messing around with valueless (atm) crypto that ChrisBFRPKY has generously donated to help people who are new to cryptocurrency so they can get a feel for it.

No, absolutely. The learning thing, sure. I was just ...ticking off possibilities, is all.

Didn't mean to discourage you! I've said what I felt I should, carry on now, no more naysaying from me at least, beyond that!

Me, like I said, I've already, without even having downloaded or anything, already learnt a great deal about crypto. Where earlier it was a foreign tongue to me, just gibberish that I'd hear other people mouth, it's now a foreign tongue whose words I can vaguely make out, sometimes understand full sentences even. Not bad, in the space of a short thread. Like I said, I like this thread, so far.
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Old 12th May 2021, 12:10 PM   #135
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Originally Posted by Chanakya View Post
Crisply explained, thank you, Chris.

Couple more questions, if I may, following on on that:





How many, in your case, if I may ask? And when you say "network", do you mean part of an external network, some group you're part of, or do you mean this "bunch" of machines you yourself have bought for this express purpose?





This I guess is more to do with programming and hardware, computer stuff that is, rather than crypto per se, and I don't know if that's your thing: but it seems ...well, weird, that if you do this mining thing at all, then you must necessarily do it at full blast of your CPU power. Not everyone would use dedicated machines --- although security-wise that's exactly what does seem to me the prudent thing to do, at this point.

Is that how it is with all cryptos, that mining necessarily means either idling or sprinting full strength, no jogging along at comfortable (that is, partial) CPU usage?
I won't put too fine a point on it here but I can say I have more than 20 cpu mining rigs going. I use an online mining pool and connect to it by the internet thru my local network. Mostly Ryzen 9 machines and a few Ryzen 7's and 5's.
These are all dedicated miners running full tilt and they do nothing but mine.



Mining is a hobby of mine. I've been at it for years and I enjoy it. It's not difficult to get started and for now it is profitable. The miners have a basic operating system and mining software. If one drive crashes I simply unplug it and add a new drive with preloaded software.

Nicehash is a good place to begin if you are interested in mining. They have a calculator there that allows you to input your current cpu etc, to see how much you would make per day.
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Old 12th May 2021, 12:15 PM   #136
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Originally Posted by lomiller View Post
Something like that. For those looking to make money from it, most of the actual processing is likely be performed in the Graphics Processer not the CPU.

This may seem a little strange, computer graphics are actually just one example of a huge class of problems that can be solved using 3x3 matrix math. The idea is that you take a huge algebraic problem express it as a spare matrix which can be solved using a bunch of 3x3 matrix calculations. The advantage is that the individual matrix calculations are independent so that can all be done in parallel even to the point of doing them on completely different machines. The Most of worlds supercomputers work this way.




The computer is solving mathematical problems for the sake of proving it has solved them. This "proof of work" serves as the justification for awarding new bitcoin. This is *supposed* to be a solution to the "problem" of governments being able to produce new money at will. I guess the idea is that money shouldn't be created from nothing, there should be some work involved, even if it's just pointless busy work that doesn't actually produce or achieve anything.

In the real world a central bank that can expand or contract the money supply in response to economic conditions is a huge benefit, so the underlying concept is flawed.
Not only is there no problem that needed fixing, the "solution" would break key aspects of the economy and makes bitcoin altogether unsuitable for use as a currency.

Philosophically, conceptually -- broad picture, that is -- it does seem to me too to be flawed.

I mean, you're still printing money "at will". Except how you're doing it has intentionally been made more complicated, and added some limits.

This "fiat" that (some) people seem up in arms against, I think it's perfectly sound as far as the concept. Where it gets screwed up, to the extent it does, is in how it works de facto.

---

As long as we're simply discussing this in abstract, why is everyone so sold on the "proof of work" thing? If you could just download your wallet, and simply have, say x number of cryptos just drop into it, drop into every wallet, every y hours, without doing anything at all, well what's wrong with that, conceptually? Fix limits if you must, like you've fixed limits here as well. Pointless work -- not actually doing something useful, but just work for work's sake -- seems like crazy thinking to me.
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Old 12th May 2021, 12:17 PM   #137
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Originally Posted by JoeMorgue View Post
Chris.

I'll buy your cryptocurrency if you buy the Brooklyn Bridge from me.
I don't have a Cryptocurrency for sale here Joe. I'll give you some if you wish but I expect nothing in return.
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Old 12th May 2021, 12:22 PM   #138
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Originally Posted by Thermal View Post
Not Monero. I'm referring to your approach and this thread.

When someone offers a learning thread on a subject I know little about, in interested. When the bait is pulled and switched to how to install a wallet, with virtually nothing by way of the title's promise, I get leery.

Can't say this enough: not dissing you or crypto or even ROI. Consider it feedback on your recruitment technique.
This thread is an opportunity to learn how crypto works first hand. For those that wish to participate you will learn how to:

1. Download and Install a wallet.
2. How to mine new coins with your wallet.
3. How to stake coins with your new wallet.
4. Receive a deposit of free coins to get you started.


How can I help you? Is there a certain wallet you wish to download other than the ROI? Just let me know what you're interested in and I'll be glad to help.
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Old 12th May 2021, 12:24 PM   #139
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Originally Posted by ChrisBFRPKY View Post
I won't put too fine a point on it here but I can say I have more than 20 cpu mining rigs going. I use an online mining pool and connect to it by the internet thru my local network. Mostly Ryzen 9 machines and a few Ryzen 7's and 5's.
These are all dedicated miners running full tilt and they do nothing but mine.



Mining is a hobby of mine. I've been at it for years and I enjoy it. It's not difficult to get started and for now it is profitable. The miners have a basic operating system and mining software. If one drive crashes I simply unplug it and add a new drive with preloaded software.

Nicehash is a good place to begin if you are interested in mining. They have a calculator there that allows you to input your current cpu etc, to see how much you would make per day.

Thanks, I'll check out this Nicehash website.

TBF I'm not so much interested in mining myself per se -- at least at this point, basis what (little) I know -- as in finding out a bit more about what this mysterious crypto thing is all about. (As you may have noticed from our exchanges in the Bitcoin thread, I'm the exact opposite of an expert when it comes to cryptos.) Thanks to your thread, I think I do know a bit about it now, if only a bit.
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Old 12th May 2021, 12:35 PM   #140
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Originally Posted by ChrisBFRPKY View Post
If you are intrigued by cpu mining, you can read more about it at the Nicehash website.
You mean we can't learn that firsthand?
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Old 12th May 2021, 01:02 PM   #141
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Originally Posted by ChrisBFRPKY View Post
This thread is an opportunity to learn how crypto works first hand. For those that wish to participate you will learn how to:

1. Download and Install a wallet.
2. How to mine new coins with your wallet.
3. How to stake coins with your new wallet.
4. Receive a deposit of free coins to get you started.


How can I help you? Is there a certain wallet you wish to download other than the ROI? Just let me know what you're interested in and I'll be glad to help.
How about starting with the most elementary basics of getting into crypto? How do you vett a likely winner, how do you know if you can trust the flagged wallet, what kind of equipment should you have at your disposal before even thinking about downloading anything? What kind of time and effort will be needed once the wallet is installed? What kind of power usage and heat generation can you expect? You know, the most ELI5 stuff you would want to know before downloading anything.

Eta: and thanks. Don't mean to get all cynical but I've been interested for a long time but without trusted Intel on the matter
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Old 12th May 2021, 01:11 PM   #142
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Originally Posted by lomiller View Post
Something like that. For those looking to make money from it, most of the actual processing is likely be performed in the Graphics Processer not the CPU.

This may seem a little strange, computer graphics are actually just one example of a huge class of problems that can be solved using 3x3 matrix math. The idea is that you take a huge algebraic problem express it as a spare matrix which can be solved using a bunch of 3x3 matrix calculations. The advantage is that the individual matrix calculations are independent so that can all be done in parallel even to the point of doing them on completely different machines. The Most of worlds supercomputers work this way.




The computer is solving mathematical problems for the sake of proving it has solved them. This "proof of work" serves as the justification for awarding new bitcoin. This is *supposed* to be a solution to the "problem" of governments being able to produce new money at will. I guess the idea is that money shouldn't be created from nothing, there should be some work involved, even if it's just pointless busy work that doesn't actually produce or achieve anything.

In the real world a central bank that can expand or contract the money supply in response to economic conditions is a huge benefit, so the underlying concept is flawed. Not only is there no problem that needed fixing, the "solution" would break key aspects of the economy and makes bitcoin altogether unsuitable for use as a currency.
I thought the whole crypto coin purpose was about cutting out the middle-man; banks and such, to avoid the fees?

The ability to buy stuff that doesn't show up in the family joint bank account was an incidental feature apparently.
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Old 12th May 2021, 01:25 PM   #143
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Originally Posted by Belz... View Post
You mean we can't learn that firsthand?
Sure you can, if you wish to download a wallet and mine with, be my guest.

If you want to learn how to mine a different particular cpu based coin, name it and we'll go from there.
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Old 12th May 2021, 01:43 PM   #144
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Originally Posted by ChrisBFRPKY View Post
Sure you can, if you wish to download a wallet and mine with, be my guest.
And why the hell would I want that? So far you've given no reason why I should bother with it.
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Old 12th May 2021, 01:57 PM   #145
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Originally Posted by Thermal View Post
How about starting with the most elementary basics of getting into crypto? How do you vett a likely winner, how do you know if you can trust the flagged wallet, what kind of equipment should you have at your disposal before even thinking about downloading anything? What kind of time and effort will be needed once the wallet is installed? What kind of power usage and heat generation can you expect? You know, the most ELI5 stuff you would want to know before downloading anything.

Eta: and thanks. Don't mean to get all cynical but I've been interested for a long time but without trusted Intel on the matter
In my case, I joined a forum several years ago called Bitcointalk to learn about Cryptocurrency and mining. There was and is a section there with new Alt coin announcements. I used to mine every coin at launch. That's when difficulty in mining is extremely low and block rewards are extremely high. It's never too late to begin.

As far as picking a winner, the only thing I can suggest is to study the fundamentals of each coin. How is this coin better than others? What are the block times are they 60 seconds or 10 minutes? What is the total supply to be mined? Is the coin minable? Proof of Work or is it Proof of Stake? Was there a premine by the founders of the coin? If so, how many coins did they get?

It's a long list of considerations to compare and contrast. And in the end, the coin you thought was a winner may end up as nothing while another coin that started as a joke (Dogecoin) races to $1.00 (I mined that at startup too) My philosophy was to mine everything new at startup in case there is a winner in the bunch. (It worked.)

How can you trust a flagged wallet? All wallets will be flagged. You can run a virus scan on the wallet to check for normal things and hidden things. Run thru the results and determine a case by case basis for each result. One of the most common results flagged will be the miner portion, if the wallet stakes or mines coins it will show up as malware usually "minerd". If this was an email you received, I wouldn't open it, but since it's a Crypto wallet with a mining function built in, of course it's gonna be there, it's supposed to be. You have to keep in mind the goal of the Cryptocurrency. The founders of a particular coin stand to make a lot of money if the coin works out and catches on. They couldn't hope to earn much by attempting to hack people to view their browser history.

I use old equipment on a day to day basis. Not because I'm afraid something may happen because I have a wallet installed, it's simply because I'm frugal. I would suggest if you are concerned something may happen you should use something you're not too concerned with. And that would apply for any program or app you may install not limited to Crypto.

As far as power usage from just running a wallet, it's extremely low. No more than any other app and likely much less than an internet browser. However if you enable mining your cpu will run 100%, because mining is a cpu intense operation. If you're just using the wallet to send or receive coins, power usage is minimal. There's no need to enable mining if you don't want to mine new coins.


Added info: I just checked and the entire network for ROI coin is running at 584 H/s (hashes per second) to better give you an idea of how little power it takes to run the entire network, 106 H/s of that amount is being done by my antique i-7 desktop......Now that's efficient.

Last edited by ChrisBFRPKY; 12th May 2021 at 02:16 PM. Reason: added info
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Old 12th May 2021, 02:02 PM   #146
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Originally Posted by Belz... View Post
And why the hell would I want that? So far you've given no reason why I should bother with it.

I'm here to help those who have a passing interest in Cryptocurrency to get started and learn first hand how to do it.

I'm not here to sell anyone on Cryptocurrency. It's not for everyone obviously.


Is there something I can help you with?
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Old 12th May 2021, 02:22 PM   #147
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Originally Posted by ChrisBFRPKY View Post
In my case, I joined a forum several years ago called Bitcointalk to learn about Cryptocurrency and mining. There was and is a section there with new Alt coin announcements. I used to mine every coin at launch. That's when difficulty in mining is extremely low and block rewards are extremely high. It's never too late to begin.

As far as picking a winner, the only thing I can suggest is to study the fundamentals of each coin. How is this coin better than others? What are the block times are they 60 seconds or 10 minutes? What is the total supply to be mined? Is the coin minable? Proof of Work or is it Proof of Stake? Was there a premine by the founders of the coin? If so, how many coins did they get?

It's a long list of considerations to compare and contrast. And in the end, the coin you thought was a winner may end up as nothing while another coin that started as a joke (Dogecoin) races to $1.00 (I mined that at startup too) My philosophy was to mine everything new at startup in case there is a winner in the bunch. (It worked.)

How can you trust a flagged wallet? All wallets will be flagged. You can run a virus scan on the wallet to check for normal things and hidden things. Run thru the results and determine a case by case basis for each result. One of the most common results flagged will be the miner portion, if the wallet stakes or mines coins it will show up as malware usually "minerd". If this was an email you received, I wouldn't open it, but since it's a Crypto wallet with a mining function built in, of course it's gonna be there, it's supposed to be. You have to keep in mind the goal of the Cryptocurrency. The founders of a particular coin stand to make a lot of money if the coin works out and catches on. They couldn't hope to earn much by attempting to hack people to view their browser history.

I use old equipment on a day to day basis. Not because I'm afraid something may happen because I have a wallet installed, it's simply because I'm frugal. I would suggest if you are concerned something may happen you should use something you're not too concerned with. And that would apply for any program or app you may install not limited to Crypto.

As far as power usage from just running a wallet, it's extremely low. No more than any other app and likely much less than an internet browser. However if you enable mining your cpu will run 100%, because mining is a cpu intense operation. If you're just using the wallet to send or receive coins, power usage is minimal. There's no need to enable mining if you don't want to mine new coins.
Excellent man, thanks much. One peripheral I'm not clear on: I understand that the machine works to solve complex math equations. Who is paying for their solution and why wouldn't they do it themselves?

I had a Bitcoin wallet mining thingy on one of my old laptops from years ago, but didn't know in advance about how much use it would generate, so didn't get far. First time I read about Dogecoin, I marked that for a short term surge moneymaker, butt didn't buy, just watched it. Up something like 2000% right now I think, but I expect redditors to drop it abruptly and take a dive. Fickle little bastards.

Eta: I'm guessing the Gamestop success has them fired up, hence the surge.
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Last edited by Thermal; 12th May 2021 at 02:24 PM.
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Old 12th May 2021, 02:32 PM   #148
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Originally Posted by Thermal View Post
Excellent man, thanks much. One peripheral I'm not clear on: I understand that the machine works to solve complex math equations. Who is paying for their solution and why wouldn't they do it themselves?

I had a Bitcoin wallet mining thingy on one of my old laptops from years ago, but didn't know in advance about how much use it would generate, so didn't get far. First time I read about Dogecoin, I marked that for a short term surge moneymaker, butt didn't buy, just watched it. Up something like 2000% right now I think, but I expect redditors to drop it abruptly and take a dive. Fickle little bastards.

Eta: I'm guessing the Gamestop success has them fired up, hence the surge.
It's called a "Block Reward" and it's built into the blockchain. This encourages users to mine blocks from around the World decentralizing the blockchain. For every block solved, that block pays the miner(s) a set reward.

There are some coin founders that do a pre-mine, to receive coins before the coin goes live. But once the coin goes live they must compete with everyone else to find and solve blocks. Normally mining pools spring up so multiple miners can join together to have a better chance at finding blocks. The creators of a coin have the same chance of finding blocks as everyone else.

It's a pretty fair way of encouraging decentralization.
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Old 12th May 2021, 08:28 PM   #149
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Originally Posted by Thermal View Post
I understand that the machine works to solve complex math equations. Who is paying for their solution and why wouldn't they do it themselves?
It's not so much complex math equations as "guess the nonce?". You just keep incrementing the nonce counter until the block has a small enough "hash".

This YouTube shows how it works if you code it in Python.
https://www.youtube.com/watch?v=ZhnJ...nel=codebasics

As for who pays for it, the miner does through hardware purchases and electricity bills. He hopes that the block reward will make this profitable.
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Old 13th May 2021, 06:22 AM   #150
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Originally Posted by psionl0 View Post
It's not so much complex math equations as "guess the nonce?". You just keep incrementing the nonce counter until the block has a small enough "hash".

This YouTube shows how it works if you code it in Python.
https://www.youtube.com/watch?v=ZhnJ...nel=codebasics

As for who pays for it, the miner does through hardware purchases and electricity bills. He hopes that the block reward will make this profitable.
I watched some of the video. It's very informative but it's also like pulling teeth. I suppose coders can get quite a bit out of it. It does make me realize why I cannot do that. I think I'd die of boredom.


Agreed that the miner will pay for his coins mined in electricity bills, especially when it's not profitable to mine. There are benefits though, mining creates a lot of heat and most ASIC mining equipment actually works great for supplementing heat for your home in the Winter. Summer is a very different story though, in Summer you're AC works overtime to get rid of that heat.
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Old 13th May 2021, 06:40 AM   #151
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A QUICK NOTE FOR ANYONE MINING OR ANYONE WISHING TO ADD SOME SOLAR PANELS FOR THE ENVIRONMENT.

There's a place in Arizona called SanTan solar. They have a bunch of new and used solar panels.

I recently purchased some used 240 watt panels from them at $35 a panel. They arrived the other day and all check out as good panels. No broken glass or cells and the output is near the same as when they were brand new. The aluminum frames have a few scuff marks from handling but nothing too ugly.

If you've been thinking about mining or just adding some solar to help the environment it can be done on the cheap. I just noticed they have some 270 watt used panels for $35, dang, missed that.

This is not an advertisement for those guys and I'm not an affiliate as I don't do that, but I bought some from them recently and they seem to be a good deal so I thought I'd share that info with anyone interested.
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Old 13th May 2021, 07:04 AM   #152
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thanks for the transfer.

I mined something like 3,000 myself on a pretty old intel machine in 5 hours.

interesting experiment all in all.
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Old 13th May 2021, 07:06 AM   #153
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Originally Posted by ChrisBFRPKY View Post
I'm here to help those who have a passing interest in Cryptocurrency to get started and learn first hand how to do it.

I'm not here to sell anyone on Cryptocurrency. It's not for everyone obviously.


Is there something I can help you with?
You seem to be selling something.
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Old 13th May 2021, 07:20 AM   #154
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Originally Posted by ChrisBFRPKY View Post
You don't have to mine. The block reward is 120 coins and takes 360 confirmations. I do but it's mainly to help the network along, a few hundred coins a day is hardly worth the effort ...

Help the network how? How/why would you mining coin help anyone other than yourself?
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Old 13th May 2021, 07:40 AM   #155
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Originally Posted by The Great Zaganza View Post
thanks for the transfer.

I mined something like 3,000 myself on a pretty old intel machine in 5 hours.

interesting experiment all in all.
It's fun to do but I wouldn't recommend too much effort on mining ROI coin as it's not being traded at this time. But now you know that you can if you want to. Knowledge is power!

Originally Posted by Belz... View Post
You seem to be selling something.
If I am selling something I must be terrible at it.


Originally Posted by Chanakya View Post
Help the network how? How/why would you mining coin help anyone other than yourself?
The network blockchain moves by mining. At this moment the entire network for ROI coin is being run at 546 Hashes per second. To give you an idea of how small of a footprint that is, my antique i-7 desktop is providing 106 of those hashes. Likely there's only a few computers mining ROI coin. That's why it's easy to find blocks, the difficulty is low when there are fewer miners.

Why would I be mining ROI coin? For now it's only to help the network during this experiment. I have no intention of continuing to mine ROI coin as it's not profitable at this time. But while we are experimenting with syncing wallets, transferring coins etc, mining helps move those transactions along faster as the confirmations require less time to complete.
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Old 13th May 2021, 07:52 AM   #156
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For anyone that wants to play/experiment with the console in the wallet:

Click on "Help" from the top menu.

Select "Debug window" and the console window will open. For a list of commands, type in "help" and press enter. This will display the available commands you can use.

For example: I recently checked the speed of the network by typing in "getnetworkhashps" and pressing enter.

It's ok to play around with the console. I don't think you'll wreck anything.
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Old 13th May 2021, 08:05 AM   #157
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Originally Posted by ChrisBFRPKY View Post
If I am selling something I must be terrible at it.
Oh, agreed.
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Old 13th May 2021, 08:18 AM   #158
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Originally Posted by ChrisBFRPKY View Post
I watched some of the video. It's very informative but it's also like pulling teeth. I suppose coders can get quite a bit out of it. It does make me realize why I cannot do that. I think I'd die of boredom.
The first half of the video gave a good description of the blockchain and the role of the nonce in the blocks. I put the video up because everybody is told that computers solve "complex" maths problems. They don't. It is nothing more than "guess and check".
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Old 13th May 2021, 09:44 AM   #159
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Originally Posted by ChrisBFRPKY View Post
... The network blockchain moves by mining. At this moment the entire network for ROI coin is being run at 546 Hashes per second. To give you an idea of how small of a footprint that is, my antique i-7 desktop is providing 106 of those hashes. Likely there's only a few computers mining ROI coin. That's why it's easy to find blocks, the difficulty is low when there are fewer miners.

Why would I be mining ROI coin? For now it's only to help the network during this experiment. I have no intention of continuing to mine ROI coin as it's not profitable at this time. But while we are experimenting with syncing wallets, transferring coins etc, mining helps move those transactions along faster as the confirmations require less time to complete.

No, but I don't get why your mining helps the network along, as you'd said.

If anything, as the blockchain moves on, mining becomes progressively harder, so that, if anything, mining does the opposite of helping the network, right?

Of course, for a coin which does not make mining progressively more difficult, the difficulty level stays the same. Either case, how would your mining actually help?

(Just trying to understand this. If your use of the word "help" was just a ...I don't know, if you didn't mean it in the sense of what the word means, just something you'd said without meaning it --- as one does at times --- then no big deal.)
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Old 13th May 2021, 09:49 AM   #160
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Originally Posted by psionl0 View Post
The first half of the video gave a good description of the blockchain and the role of the nonce in the blocks. I put the video up because everybody is told that computers solve "complex" maths problems. They don't. It is nothing more than "guess and check".

Thanks for posting that.

I haven't seen the video, perhaps I will, perhaps not, but what you've pointed out here is good to know. Absolutely, that is the general impression most people have, that mining involves solving intricate mathematical problems. That's the impression I myself had.

Yeah, I know, the video probably explains it, but still: is that how it is with all cryptos? Or are there some that do solve those complex problems that people talk about, while others don't?

And why does mining get progressively more difficult, then? Because the numbers of the hits get progressively smaller, lesser in number, is that all there is to it, not so much increasing complexity of the operations?
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