6 New Bitcoin Educational Resources - Forbes

Weekly Wrap 03/04

Market News
In the earlier part of the week, Bitcoin broke down to the $5800 level but managed to successfully close back above $6400. As expected, we eventually saw a move to the $7200 level that was followed by a swift rejection. Recent CME data released indicates that large-sized traders doubled down on their 2020 short positions between $8200 and $10,700. We are thus expecting the $8000 region to act as a large resistance level in the future.
In a new report, Binance Research found a ‘moderate’ positive correlation between Bitcoin and US equities during the first quarter of 2020, with neither being correlated to gold. Amongst their findings was the conclusion that despite Bitcoin displaying a positive correlation with US equities, this correlation coefficient remains unlikely to persist in the medium to long term as it was merely a result of global investors' flight to liquidity across all asset classes in the wake of COVID-19. This is positive news for investors who continue to use cryptoasset investments for diversification purposes.
Global markets are also up following Trump’s comments that crude oil production will likely be cut back. The announcement sent Brent crude levels up by over 25%. The move comes as oil was already climbing after Beijing instructed government agencies to start buying cheap crude for its strategic reserves.
Industry News
Other News
submitted by Camaa to InvictusCapital [link] [comments]

Weekly Wrap 03/04

Market News
In the earlier part of the week, Bitcoin broke down to the $5800 level but managed to successfully close back above $6400. As expected, we eventually saw a move to the $7200 level that was followed by a swift rejection. Recent CME data released indicates that large-sized traders doubled down on their 2020 short positions between $8200 and $10,700. We are thus expecting the $8000 region to act as a large resistance level in the future.
In a new report, Binance Research found a ‘moderate’ positive correlation between Bitcoin and US equities during the first quarter of 2020, with neither being correlated to gold. Amongst their findings was the conclusion that despite Bitcoin displaying a positive correlation with US equities, this correlation coefficient remains unlikely to persist in the medium to long term as it was merely a result of global investors' flight to liquidity across all asset classes in the wake of COVID-19. This is positive news for investors who continue to use cryptoasset investments for diversification purposes.
Global markets are also up following Trump’s comments that crude oil production will likely be cut back. The announcement sent Brent crude levels up by over 25%. The move comes as oil was already climbing after Beijing instructed government agencies to start buying cheap crude for its strategic reserves.
Industry News
Other News
submitted by Camaa to cryptotwenty [link] [comments]

⟳ 870 apps added, 78 updated at f-droid.org

Notice: this update is spurious, and the issue is being looked at.
⟳ f-droid.org from Wed, 26 Feb 2020 20:21:50 GMT updated on Sun, 01 Mar 2020 05:23:29 GMT contains 2962 apps.
Added (870)
Updated (78)
2020-03-01T05:53:18Z
submitted by BrainstormBot to FDroidUpdates [link] [comments]

Nuvmining | What Is Bitcoin, How Is It Various Than "Real" Cash and also How Can I Get Some?

Bitcoin is a digital money. It does not exist in the kind of physical type that the currency & coin we're used to exist in. It does not even exist in a type as physical as Syndicate cash. It's electrons - not molecules.
nuv mining
Yet consider just how much cash you directly handle. You obtain an income that you require to the bank - or it's autodeposited without you even seeing the paper that it's not printed on. You after that utilize a debit card (or a checkbook, if you're old school) to access those funds. At finest, you see 10% of it in a money form in your pocket or in your pocketbook. So, it turns out that 90% of the funds that you take care of are online - electrons in a spreadsheet or data source.
nuvmining
However delay - those are UNITED STATE funds (or those of whatever nation you come from), safe in the financial institution and also ensured by the complete belief of the FDIC approximately about $250K per account, right? Well, not exactly. Your banks might just called for to maintain 10% of its deposits on down payment. In some cases, it's much less. It offers the rest of your cash bent on other individuals for approximately thirty years. It charges them for the funding, and also costs you for the advantage of letting them offer it out.
Just how does money obtain developed?
Your financial institution reaches produce money by offering it out.
State you deposit $1,000 with your bank. They then lend out $900 of it. Unexpectedly you have $1000 as well as another person has $900. Magically, there's $1900 floating around where prior to there was only a grand.
Currently claim your bank instead offers 900 of your dollars to another financial institution. That financial institution in turn lends $810 to an additional financial institution, which after that offers $720 to a client. Poof! $3,430 in an immediate - virtually $2500 produced out of nothing - as long as the bank follows your federal government's central bank rules.
Production of Bitcoin is as different from bank funds' creation as cash money is from electrons. It is not managed by a government's reserve bank, but rather by consensus of its customers as well as nodes. It is not developed by a restricted mint in a structure, however rather by dispersed open source software program and computer. As well as it needs a type of real work for production. Extra on that particular shortly.
Who created BitCoin?
The very first BitCoins remained in a block of 50 (the "Genesis Block") created by Satoshi Nakomoto in January 2009. It really did not really have any type of worth initially. It was simply a cryptographer's toy based on a paper published two months earlier by Nakomoto. Nakotmoto is an evidently imaginary name - nobody appears to know that she or he or they is/are.
That monitors everything?
Once the Genesis Block was developed, BitCoins have actually because been produced by doing the work of keeping track of all deals for all BitCoins as a kind of public journal. The nodes/ computers doing the computations on the journal are awarded for doing so. For each collection of effective calculations, the node is rewarded with a specific quantity of BitCoin (" BTC"), which are after that freshly produced right into the BitCoin community. For this reason the term, "BitCoin Miner" - because the procedure develops new BTC. As the supply of BTC increases, and also as the number of transactions boosts, the job essential to update the public ledger gets harder and also much more complicated. As a result, the variety of new BTC right into the system is created to be concerning 50 BTC (one block) every 10 minutes, worldwide.
Although the computer power for mining BitCoin (as well as for upgrading the public ledger) is currently boosting exponentially, so is the intricacy of the mathematics problem (which, incidentally, additionally needs a certain amount of thinking), or "evidence" needed to mine BitCoin as well as to settle the transactional publications at any type of provided moment. So the system still only generates one 50 BTC block every 10 minutes, or 2106 blocks every 2 weeks.
So, in a sense, everyone tracks it - that is, all the nodes in the network keep track of the background of every single BitCoin.
Just how much is there and also where is it?
There is a maximum variety of BitCoin that can ever before be produced, and that number is 21 million. According to the Khan Academy, the number is anticipated to peak around the year 2140.
Since, today there were 12.1 million BTC in flow
Your very own BitCoin are kept in a documents (your BitCoin purse) in your very own storage space - your computer system. The data itself is evidence of the number of BTC you have, and also it can move with you on a mobile phone.
If that data with the cryptographic key in your wallet obtains lost, so does your supply of BitCoin funds. And also you can't obtain it back.
Just how much is it worth?
The value differs based on just how much people believe it deserves - similar to in the exchange of "real cash." Yet due to the fact that there is no central authority trying to maintain the value around a certain level, it can vary a lot more dynamically. The very first BTC were generally worth absolutely nothing at the time, however those BTC still exist. Since 11AM on December 11, 2013, the general public value was $906.00 United States per BitCoin. When I completed composing this sentence, it was $900.00. Around the start of 2013, the value was around $20.00 United States. On November 27, 2013 it was valued at greater than $1,000.00 United States per BTC. So it's kind of unstable presently, yet it's expected to calm down.
The complete value of all BitCoin - since the period at the end of this sentence - is around 11 billion US bucks.
How can I get me some?
First, you have to have a BitCoin purse. This post has links to get one.
Then one method is to purchase some from one more private party, like these individuals on Bloomberg TV. One method is to purchase some on an exchange, like Mt. Gox.
As well as finally, one means is to dedicate a lot of computer power as well as power to the process as well as become a BitCoin miner. That's well outside the extent of this post. However if you have a couple of thousand extra dollars lying around, you can obtain rather a gear.
Exactly how can I spend it?
There are numerous vendors of all sizes that take BitCoin in payment, from cafes to auto dealers. There's also a BitCoin ATM in Vancouver, British Columbia for transforming your BTC to cash in Vancouver, BC.
And so?
Money has had a lengthy background - centuries in size. Somewhat recent tale tells us that Manhattan Island was bought for wampum - seashells & the like. In the very early years of the United States, different financial institutions printed their own money. On a recent visit to Salt Spring Island in British Columbia, I invested currency that was just good on the beautiful island. The common style among these was a trust agreement amongst its customers that specific currency held value. In some cases that worth was tied directly to something strong and physical, like gold. In 1900 the U.S. connected its currency straight to gold (the "Gold Requirement") and in 1971, ended that tie.
Currently money is traded like any kind of various other commodity, although a certain nation's currency worth can be propped up or decreased through activities of their reserve bank. BitCoin is an alternative money that is also traded as well as its value, like that of various other products, is figured out via trade, yet is not stood up or lessened by the action of any kind of bank, however rather straight by the activities of its individuals. Its supply is minimal as well as known nevertheless, and also (unlike physical money) so is the history of each and every single BitCoin. Its viewed worth, like all various other money, is based on its utility and also count on.
As a form of currency, BitCoin not specifically a new thing in Production, however it absolutely is a new means for cash to be created.
submitted by Nuvmining to u/Nuvmining [link] [comments]

Story about how I went from having no job, no education and in debt to financially independent in 7 years

In the summer of 2010 I was in my early 20s, took a year off from school and tried working on a business with a friend in the IT field, but the business failed. I was studying Computer Science in college, but was not doing too well. I had my credit cards maxed out at about 20k in debt due to irresponsible spending. I made some money in the past because I worked in the summer in an IT job thanks to a connection, but that opportunity went away. I was living with my parents and wanted ANY job - I was desperate. I tried to get a job at the mall in a clothing store, so I walked around handing out my resume, but failed the interviews. I even interviewed at McDonalds, but they didn't take me. I felt like a loser.

In the fall of 2010 I hit rock bottom and decided to turn things around. I quit smoking and started taking my school seriously, because I realized that it’s my only way out of the mess I was in. I realized that succeeding in business (like Bill Gates) is super hard and started doing pretty well in Computer Science. Later that year I got a job in an electronics store for a few months, at which point I was happy. Later on, I got a part time job in a field related to IT to support myself.

I graduated with debt in 2013 and got an entry level IT job in the city where I grew up, making around 50k a year. I was so happy when I got the offer, but later on I found the job to be boring. My dream was to get into Silicon Valley, so I started learning more about coding and practicing for coding interviews. I was still living with my parents and was slowly paying off my credit cards and student debts.

In early 2014, I interviewed at 2 companies in Silicon Valley and one of them gave me an offer. The salary and stocks offer was much better than I could have dreamed of, including a good signing bonus. That was one of the best days of my life.

I moved and started working. I was saving up most of my money and paying off my debts aggressively. Then, in the winter of 2015, I came across this video on Reddit about Bitcoin. It made an impression on me and I became very curious: what are all those those machines doing? I heard the word Bitcoin before, but had no idea what it was and decided to look into it seriously.

I found a great introduction on Khan Academy (which I already used when I was in school and respected it). I was blown away ... wow that's so clever, I thought. I immediately bought this audiobook, which was recently released at the time and listened to the whole thing in just a few days. I loved the book and learned so much from it: the history of Bitcoin and it discussed things like "why is money valuable at all?".

I was also randomly browsing Wikipedia around this time and came across this page from 2015. I briefly researched the top projects on that page, but what got me interested was item #2: Ethereum. I started researching it on youtube. I found these videos https://youtu.be/l9dpjN3Mwps and https://youtu.be/fbEtivJIfIU and they made SO MUCH sense to me. I also read the white paper like 5 times becoming more and more impressed every time I read it.

I became depressed when I realized that I missed the crowdsale in 2014 and there was no way to invest at that point. I thought that my chance to acquire ETH at a good price was gone forever. I was sure that after it is released the price will be much higher than the crowdsale price of 30 cents per ETH. My thinking at the time was that Ethereum is at least 10 times better than Bitcoin in every possible way and if Bitcoin market cap was a few billion, then ETH should at least match that.

When Ethereum was released in the summer, I started buying it. My debts were paid off by this point thanks to a high salary. The initial price was around $3, but was quickly falling. I was praying that the price falls more and more. The price dropped to below a dollar and I put all of my net worth into it because I thought it was an unbelievable bargain. Every extra penny I had I would put into ETH. I ended up investing around 30k. To me it was so obvious that it is much more valuable than $1 and that people were completely out of their minds for selling it for so low. It felt like people are selling gold bars for a dollar. Bitcoin market cap was a few billion, but Ethereum was something like 50 million AND it is better than Bitcoin in every way by at least 10x I kept telling myself. I remember predicting to people that it will go up 1000x in 10 years. I was talking to some friends about it at the time, but none of them bought as far as I know (until much later).

The price jumped to about $10 in the spring of 2016. I didn’t even think about selling. I held through the DAO hack and DDOS attacks, when the price dropped by more than half. I actually felt that these things are good for the system because it’s antifragile.

In early 2017 the price jumped from $10 to around $30 and I was officially a millionaire. Was I thinking about selling at this point? Hell no, it’s still undervalued! It went to 400, then dropped to 180, slashing my net worth in half and I lost like 10 million on the way down. I still felt it was undervalued at this point. It was kind of crazy: eating lunch with my coworkers, then checking the price and realizing I lost like 1 million in the past hour. And then going to meetings, discussing some bugs or features with my teammates at work.

I did not participate in any ICOs because I felt they were not a good value and if some ICO succeeds, it would be good for Ethereum anyways. I think I’m a pretty unusual crypto investor: I don’t hold any Bitcoins, only ETH and no other tokens. I only used BTC in order to buy ETH in 2015, and converted all of them to ETH ASAP. I remember a friend asking “what is so good about Bitcoin? Is there anything I can buy with Bitcoin, that you can’t with dollars”. I jokingly answered ETH.

I didn’t sell a single ETH until the price hit about $500 in the fall of 2017. At every point before $500, I thought that it was still extremely undervalued. I started selling to diversify. I ended up selling on the way up to $1400 and continued selling until it went down to about $600. I cashed out a few million dollars, about 20% of my holdings. I actually didn't feel great selling, because I still felt that the assets are still more valuable than what I’m getting for them.

After paying taxes, I diversified into stocks and bonds. According to my calculations, I can live comfortably for the rest of my life without working or selling a single ETH again. I quit my job in 2018 and traveled around the world for many months.

I think to myself, did I get lucky? Or am I some kind of investment genius and maybe I should go into angel investing? I looked around for some investment opportunities, but nothing comes close to how I felt about ETH in 2015. Back then it felt to me extremely obvious that this thing is extremely undervalued. I never got that feeling about any other investment since, even though I looked, so I never invested in anything else. I still find it surprising that people were willing to sell ETH for under a dollar just a few years ago.
submitted by ThrowAway329565 to financialindependence [link] [comments]

Why I believe we're on the cusp of the 3rd great Bitcoin bubble

We've recovered from the last crash
You might think it's a bit early (based on the time frame for the last recovery), but things are looking a lot different than in 2011. I would suggest its because the last bubble popped prematurely due to Mt. Gox's failure of a trading engine.
Interest in buying Bitcoins has gone up to its highest point since the last bubble.
There's a similar spike in general interest. Partly helped along by the Silk Road news.
The network is being used at the same rate as during the last bubble.
The Bitcoin ATM story (see below) is causing Bitcoin to trend in Canada on Google (was #1 for a bit). The $27 story (see below) will almost certainly cause a large spike worldwide in Google trends once they're updated up to yesterday.
Lots and lots of new businesses now accept Bitcoins
One legitimate criticism of Bitcoin last year was the lack of places to spend them. We basically just had Alpaca Socks, Reddit and Wordpress, we've grown a lot since then!
Charities and others are taking donations
The first Bitcoin I ever spent was to donate to Wikileaks. More and more places are setting up Bitcoin donation buttons, because why not?
The $27 story is going massively viral
I think the attention this story is getting took a lot of us by surprise. We're thinking "of course if you bought Bitcoins in 2009 you're rich" and it didn't make much of a splash. But to the rest of the world it's a very novel and interesting story.
The first Bitcoin ATM has been installed
Easier way for people acquire Bitcoins with cash. Lots of free publicity. More machines are on their way and will generate more and more news.
Institutional money is coming
Afraid with the price at $200 that it will be hard to find enough moms and pops to keep money coming in faster than miners are selling? Don't be, there are individuals out there with a net worth higher than the entire Bitcoin ecosystem.
Interesting new developments
Cool things that didn't exist before the last bubble (as far as I remember).
Governments are explicitly saying it's not illegal
More and more governments are either saying Bitcoins are legitimate currency, or releasing guidelines for exchanges to comply with anti-money-laundering laws.
New generation of exchanges
Mt. Gox's terrible trading engine was a huge factor in the last crash. They couldn't keep up with all the new interest.
This time around there are more exchanges in more countries, and not a single point of liquidity.
submitted by DTanner to Bitcoin [link] [comments]

Prediction: BAT will be $1+ by mid-October

My prediction: Basic Attention Token (BAT) will be $1+ by sometime in October, 2017. Price as of thread: $0.14.
Reasons
Team (to highlight a few):
Those people people combined are one of the most impressive teams I have seen in the crypto world. Strong and already developed leaders in technology and innovation are a good drive for development in new technology
Web Browser Development
Basic Attention Token already has a product. The Brave browser is an already functioning web browser on which the BAT platform is beind developed on. A personal opinion, I think this is a pretty decent browser and recommend people to try it out. BAT is not going to remain solely on the Brave brower. After successful implemnation on Brave, they plan on rolling out to other browsers via default options or extensions/plugins. A chrome extension is already planned and with Brendan Eich's relationship with Mozilla & Firefox, we can assume BAT will be a feature on it in the future as well.
Over 150 publishers have joined Brave Payments already. Wikihow, Archive.org, and Smashing Magazine have given BAT approval to use their names. Other large name publishers will also be added.
Relationships
With an already experienced team, we can note that these people already having standing relationships with companies they have worked in and around. I have already talked about Brendan Eich's relationship with Mozilla & Firefox.
Greg Badros has worked in high positions with Google and Facebook, so we can assume he has connections to them and elsewhere because of those positions. Now we can assume that Facebook and Google more than likely won't work with a competing product/company, but those connections are great to have regardless.
Already noted before, Ankur Nandwani is Product Manager at Coinbase where he manages the consumer division of the company. Prior to that he co-founded BitMonet, which was the Bitcoin-based monetization platform for content publisher. A relationship with Coinbase? A very good one to have and something that I will talk about next...
Potential Partner
Continuing on from Relationships... Ankur Nandwani. Remember that Ankur Nandwani is the Product Manager for Coinbase.
BAT has already partnered with a company that will help with the conversion of BAT to fiat such as USD, EUR, GBP, etc. Detail's of that will be announced very soon. Now what company supports conversion of crypto assets to fiat, particularly USD, EUR, and GBP? Coinbase, which is one of the most popular places to buy/sell top digital assets. What company has announced they plan on supporting more crypto currencies in 2017? Coinbase, as said by founder Brian Armstrong.
We are in the middle of the 3rd quarter now and so far this year Coinbase has added support for only Litecoin, probably due to the creator of Litecoin's heavy work and involvement with Coinbase. With end of the year fast approaching, I think BAT is the most viable candidate for Coinbase's next digital currency.
The plan to integrate a system to convert BAT/Fiat is scheduled for mid-September. I'll give them some delay and some time for media to attract even more attention.
These are my reasons for my prediction that BAT will be valued at $1+ come mid-October.
submitted by Smugglers to batmarkets [link] [comments]

Dearest /r/bitcoin: YOU'RE BUMMING ME OUT

This subject has been weighing heavily on me lately, and I felt it just needs to be said:
It is time to SHIFT and SPREAD the wealth.
One of the more beautiful attributes about Bitcoin is the charitable nature of our community along with the speed and fluidity at which we are able to give on a global scale. And the past month’s rise in value has given all of us a greater ability to do good with what we have.
With this in mind, I would ask everyone here in /bitcoin to please consider spreading the wealth, much farther than to a group of homeless in Florida. This is by no means at all any disrespect towards Jason, as SeansOutpost has been the beacon of light for charitable efforts in the Bitcoin world. He has single-handedly proven to us all what an impact Bitcoin can make on people’s lives. Phraust and I were one of the very first to donate to his cause back in April and our 1 BTC provided 40 meals. We are very supportive of his efforts and it’s amazing how far we have all come since then.
However, there are so many more people in many parts of the world that desperately need our help and I would ask that you start exploring other charities and efforts that accept Bitcoin. I can’t help but be somewhat disappointed in the Bitcoin Black Friday Charity Drive to learn that the BitGive Foundation only received 3 BTC for their campaign to donate to Save the Children’s Typhoon Haiyan Relief Effort whereas Sean’s Outpost received more than 5x as much!
Come on people, let’s show the world how far our community’s heart and help can reach.
~I respectfully ask that the gentleman on ESPN, who received $26k in donations that has pledged to donate to Sean’s Outpost, to please spread the wealth.
~I also respectfully ask Theymos, who has pledged to donate 1000 BTC to Sean’s Outpost from the forum donations, to please spread the wealth.
~And I respectfully ask /bitcoin to please start spreading the wealth. Start reaching out to the organizations that already accept Bitcoin. And if there is a charity that you support that doesn’t currently accept BTC, start the campaign and let us follow your lead!
--Just a few Bitcoin accepting charities and organizations--
BitGive Foundation http://bitgivefoundation.org/donate.html
Bitcoin100 http://bitcoin100.org/about/donation-address/
Bitcoin Not Bombs http://www.bitcoinnotbombs.com/hoodie-the-homeless/
Electronic Frontier Foundation https://supporters.eff.org/donate
Foundation for Economic Education http://www.fee.org/donate/page/donate-bitcoins#axzz2mCVI7JpW
Khan Academy https://www.khanacademy.org/donate
LifeBoat Foundation https://lifeboat.com/ex/donations
PeaceGeeks http://peacegeeks.org/content/donate#by-bitcoin
Sean’s Outpost http://seansoutpost.com/donate/
ShireSharing http://shiresharing.org/
Songs of Love http://www.songsoflove.org/bitcoins/
Virtual Doctors http://www.virtualdoctors.org/the-vdp-now-accepts-donations-in-internet-currency-bitcoin-2/
--Some organizations that are actively collecting for Typhoon Haiyan relief--
Fr33Aid https://en.bitcoin.it/wiki/Donation-accepting_organizations_and_projects
BitMe https://bitme.com/donate
Cause Central http://www.cause-central.com/blog/2013/11/14/typhoon-haiyan-victims-in-the-philippines-learn-how-you-can-help
Typhoon Haiyan Fund (from BitcoinTalk thread) http://typhoonhaiyanrelieffund.org/
--Other Orgs that accept Bitcoin donations (from Bitcoin Wiki)--
https://en.bitcoin.it/wiki/Donation-accepting_organizations_and_projects
Edit: People, I am not shaking my finger at everyone saying you SHOULD donate to a cause. I'm asking that IF you are planning on donating, please consider other worthy causes aside from the homeless in Florida. Find a cause that you really believe in and support it.
Also, a few more suggested charities to look into (thank you everyone):
Ludwig von Mises Institute https://mises.org/forms/104/Donate-Bitcoin-to-Mises-Institute
Group B Strep International http://www.groupbstrepinternational.org/you-can-help/make-a-donation/
http://coingiving.com/ and http://tip4commit.com/
submitted by TheBitcoinWife to Bitcoin [link] [comments]

Subreddit Stats: AskEconomics posts from 2018-07-29 to 2018-10-19 16:52 PDT

Period: 82.20 days
Submissions Comments
Total 984 6990
Rate (per day) 11.97 84.00
Unique Redditors 705 1188
Combined Score 5816 20552

Top Submitters' Top Submissions

  1. 240 points, 28 submissions: benjaminikuta
    1. So, what's the difference between this new trade deal with Mexico and Canada and the old one, and what are the implications? (69 points, 12 comments)
    2. The EU is considering making product life expectancy a mandatory piece of info for consumer electronics. What would the economic implications of that be? (61 points, 24 comments)
    3. What would be a better alternative to Bernie's proposal to tax employers of welfare recipients? (15 points, 68 comments)
    4. What's happening right now with the agriculture industry in South Africa? (15 points, 3 comments)
    5. To what degree is planned obsolescence due to consumer behavior, rather than the other way around? (12 points, 1 comment)
    6. Why do changes in bitcoin price and mining difficulty not have a greater effect on the amount of mining being done? (8 points, 7 comments)
    7. How effectively can negative externalities be quantified? (7 points, 7 comments)
    8. What exactly is "Capitalism" anyway? (7 points, 17 comments)
    9. Are open source projects, such as VLC, subject to market forces? (6 points, 7 comments)
    10. What happened to the agricultural industry in South Africa? (6 points, 0 comments)
  2. 168 points, 37 submissions: Whynvme
    1. When economists refer to industrialization, does it mean a move from agricultural to manufacturing economy? Is the growth in services a different term? (24 points, 6 comments)
    2. Do economists actually calculate consumer surplus empirically, or is it more of s theoretical concept? (19 points, 5 comments)
    3. Does employees of a company with a relatively inelastic demand have an incentive not to care too much? (13 points, 9 comments)
    4. why is ceteris paribus important for analyzing/thinking about the world? (12 points, 7 comments)
    5. Is me making more money than I would necessarily require to work( so more than my 'opportunity wage') for a job an economic inefficiency? or is ineffiency in labor markets a wedge between my marginal revenue product and my wage? (11 points, 3 comments)
    6. With a land value tax, since the supply of land is perfectly inelastic(or less elastic than demand), would theory suggest land owners will pay most of the tax? (10 points, 4 comments)
    7. Are policies such as the gov creating jobs that arent necessary(like gas station attendants) an example of the Broken window fallacy? (7 points, 7 comments)
    8. what is meant by value added? (7 points, 3 comments)
    9. Question about planned economies without price mechanism and forced labor (5 points, 2 comments)
    10. Why does inflation necessarily mean wages will be increasing too? (5 points, 3 comments)
  3. 116 points, 10 submissions: pattersonisagamer
    1. Why do economists believe rent control policies harm the poor instead of carrying out the intent and helping them out greatly? (49 points, 26 comments)
    2. Under Sen Sanders (I-VT) single payer healthcare system he guarantees the average family would pay $466/year on healthcare. Is this true/possible? Would you favor this policy? (27 points, 46 comments)
    3. What is a good type of internship for an undergrad summer going into senior year? (11 points, 6 comments)
    4. What would the economic effect be if the United States removed its $7.25/hr minimum wage? Would you support this? Why/why not? (10 points, 21 comments)
    5. How can you tell if someone's preferences are convex? (7 points, 11 comments)
    6. What is quantitative easing and how does it differ from normal actions taken by the Fed? (4 points, 19 comments)
    7. Is it true that you can make decent money out of college as an independent financial advisor with a BS in Economics/other independent, self employed jobs? (3 points, 6 comments)
    8. What exactly is a negative income tax? Would you support implementing this policy? (3 points, 8 comments)
    9. Carbon tax in the USA? (2 points, 2 comments)
    10. Should we have a central bank? (0 points, 3 comments)
  4. 92 points, 9 submissions: Fart_Gas
    1. Is free public transport a good idea? (44 points, 23 comments)
    2. Will Venezuela's plummeting economy make it a good choice for low-wage industries? (18 points, 8 comments)
    3. Why do some countries without hyperinflation use a foreign currency in everyday life? (10 points, 3 comments)
    4. What might cause sudden inflation? (7 points, 2 comments)
    5. Has any country tried reducing the minimum wage, and ended up with a good result from it? (4 points, 9 comments)
    6. How could ranchers and meat-dependent countries adjust to a world that is switching away from meat due to environmental and health concerns? (3 points, 7 comments)
    7. What is the cause of Taiwan's economic failure? (3 points, 1 comment)
    8. How come rationing in the UK during World War II went rather smoothly? (2 points, 4 comments)
    9. Do boycotts really work? (1 point, 3 comments)
  5. 84 points, 8 submissions: Serpenthrope
    1. Have there been any serious proposals for economic systems that don't use money? (24 points, 67 comments)
    2. Pockets in women's clothing (18 points, 30 comments)
    3. Is there a formal name for this? (16 points, 6 comments)
    4. Could a company ever become quality-control for a market in which they're competing, assuming no government interference? (15 points, 4 comments)
    5. I saw this article on a UN report calling for the dismantling of Capitalism to stop Global Warming, and was wondering what most economists think of the claims? (3 points, 4 comments)
    6. What would the economic impact be if the Extended Family returns? (3 points, 3 comments)
    7. Why are second-hand clothing donations fundamentally different from other types of imports? (3 points, 1 comment)
    8. Peter Navarro and Lyndon Larouche? (2 points, 1 comment)
  6. 80 points, 2 submissions: MrDannyOcean
    1. Announcing a new policy direction for /AskEconomics (68 points, 135 comments)
    2. The new rules for AskEconomics are now in place. Please see the details within. (12 points, 17 comments)
  7. 58 points, 8 submissions: Jollygood156
    1. Why didn't quantitative easing + low interest rates raise inflation high? (20 points, 36 comments)
    2. How do we actually refute MMT? (11 points, 68 comments)
    3. Tax Cuts boost Consumption, but the growth is short term while investments are long term. Why? (11 points, 7 comments)
    4. What is Nominal GDP targeting and why do so many people advocate for it? (6 points, 16 comments)
    5. How exactly are land value taxes calculated? (5 points, 3 comments)
    6. What even is Austerity? (3 points, 3 comments)
    7. During the time of economic upswing is it good to look to balance the budget or run a surplus? (1 point, 7 comments)
    8. How do we know that money is neutral in the longrun? (1 point, 22 comments)
  8. 52 points, 11 submissions: lalze123
    1. Will Bernie's "STOP BEZOS" plan lower the opportunity cost of hiring non-poor workers, thereby harming poor workers? (19 points, 15 comments)
    2. What does the current economic literature say about the effects of net neutrality? (12 points, 0 comments)
    3. What government programs have been empirically proven to help displaced workers from import competition? (5 points, 0 comments)
    4. By how much does lowering the budget deficit lower the trade deficit? (4 points, 4 comments)
    5. How much revenue would a negative income tax require? (3 points, 3 comments)
    6. How would replacing the minimum wage with a negative income tax turn out? (3 points, 4 comments)
    7. Is it possible for advertisements to have signaling effects that are detrimental? (3 points, 3 comments)
    8. Can you have a negative income tax system without inherent tax mechanisms? (1 point, 1 comment)
    9. What are some good studies analyzing the difference in efficiency between markets and central planning? (1 point, 1 comment)
    10. Would economists prefer bilateral/multilateral free trade agreements or unilateral free trade? (1 point, 4 comments)
  9. 48 points, 6 submissions: CanadianAsshole1
    1. If free trade is so good, then why do countries insist on making trade deals? Why can't we just abolish all tariffs? (17 points, 11 comments)
    2. Does the wage gap still exist after controlling for factors like education, career choice, and hours worked (13 points, 39 comments)
    3. Do I understand the problem with"trickle-down" economics correctly? (8 points, 38 comments)
    4. If climate change is such a huge problem, then why aren't countries utilizing nuclear energy more? (6 points, 17 comments)
    5. How much of the Reagan administration's deficits could be attributed to increased defense spending? (3 points, 3 comments)
    6. If automation will result in less jobs, then shouldn't the government stop incentivizing childbirth through tax credits and stop immigration? (1 point, 12 comments)
  10. 48 points, 1 submission: Traveledfarwestward
    1. What do most Economists think about The Economist? (48 points, 26 comments)
  11. 46 points, 8 submissions: Chumbaka
    1. Why is inflation and deflation bad? (12 points, 8 comments)
    2. Can a monopoly also be a monopsony? (10 points, 13 comments)
    3. Can anyone explain why this happens and what it means? (10 points, 3 comments)
    4. Stupid question but : Why does printing lots of money lead to inflation? (5 points, 14 comments)
    5. What do you think of Khan's Academy Economy lessons? (4 points, 2 comments)
    6. What does this stock market fall mean to the economy as a whole? (4 points, 4 comments)
    7. How would an universal free market deal with situations like NK? (1 point, 21 comments)
    8. How do I pick an economist ideology to support? (0 points, 3 comments)
  12. 46 points, 2 submissions: prman222
    1. What is the difference in knowledge between academic economists(Krugman, Acemoglu, Mankiw etc) and hedge fund managers and the like(Soros, James Simons)? (44 points, 5 comments)
    2. is a recession likely to come by 2020? (2 points, 11 comments)
  13. 46 points, 1 submission: TheHoleInMoi
    1. Are there any papers/solid arguments about the benefits of having more local business as opposed to corporate consolidation? (46 points, 2 comments)
  14. 44 points, 1 submission: Akehc99
    1. Those who went into the job market after an Econ Undergrad, what do you do and briefly what does it entail? (44 points, 27 comments)
  15. 44 points, 1 submission: piltonpfizerwallace
    1. What would happen if the US printed $12.3 trillion tomorrow and paid off all of its debt? (44 points, 30 comments)
  16. 43 points, 2 submissions: ConditionalDew
    1. How much would the iPhone be if it was made in the US? (41 points, 15 comments)
    2. Who are some famous people/celebrities that were economics majors? (2 points, 2 comments)
  17. 42 points, 1 submission: Turnt_Up_For_What
    1. You've just been declared supreme potentate of Venezuela. Now how do you fix the economy? (42 points, 24 comments)
  18. 42 points, 1 submission: rangerlinks
    1. Who are the best economist to follow on Twitter? (42 points, 16 comments)
  19. 41 points, 5 submissions: TeaRev1ew
    1. Is there any basis to the theoretic economics of Anarchism? Could such a system work outside of coffee shops/other low level enterprises? (15 points, 18 comments)
    2. Are sovereign wealth funds a new phenomenon? (12 points, 1 comment)
    3. How do state funded enterprises lead to corruption? Is there a difference between developed and developing nations (or a patron-client relationship)? (6 points, 11 comments)
    4. How does releasing a new currency curb inflation in the era of fiat? (5 points, 5 comments)
    5. How do companies do business in states where their government doesn't recognize the sovereign entity? (3 points, 1 comment)
  20. 36 points, 1 submission: JeffGotSwags
    1. What are the most commonly held misconceptions about economics among people with at least some background? (36 points, 34 comments)

Top Commenters

  1. BainCapitalist (2631 points, 654 comments)
  2. RobThorpe (864 points, 280 comments)
  3. zzzzz94 (719 points, 147 comments)
  4. Calvo_fairy (715 points, 198 comments)
  5. smalleconomist (605 points, 179 comments)
  6. Cross_Keynesian (489 points, 94 comments)
  7. bbqroast (458 points, 103 comments)
  8. penguin_rider222 (428 points, 128 comments)
  9. riggorous (330 points, 115 comments)
  10. Integralds (326 points, 65 comments)
  11. whyrat (314 points, 68 comments)
  12. MrDannyOcean (248 points, 42 comments)
  13. isntanywhere (201 points, 64 comments)
  14. RedditUser91805 (179 points, 30 comments)
  15. emeraldcity27 (161 points, 8 comments)
  16. CapitalismAndFreedom (143 points, 66 comments)
  17. raptorman556 (142 points, 34 comments)
  18. LucasCritique (132 points, 30 comments)
  19. lawrencekhoo (129 points, 19 comments)
  20. roboczar (120 points, 21 comments)

Top Submissions

  1. So, what's the difference between this new trade deal with Mexico and Canada and the old one, and what are the implications? by benjaminikuta (69 points, 12 comments)
  2. Announcing a new policy direction for /AskEconomics by MrDannyOcean (68 points, 135 comments)
  3. The EU is considering making product life expectancy a mandatory piece of info for consumer electronics. What would the economic implications of that be? by benjaminikuta (61 points, 24 comments)
  4. Why do economists believe rent control policies harm the poor instead of carrying out the intent and helping them out greatly? by pattersonisagamer (49 points, 26 comments)
  5. What do most Economists think about The Economist? by Traveledfarwestward (48 points, 26 comments)
  6. Are there any papers/solid arguments about the benefits of having more local business as opposed to corporate consolidation? by TheHoleInMoi (46 points, 2 comments)
  7. What would happen if the US printed $12.3 trillion tomorrow and paid off all of its debt? by piltonpfizerwallace (44 points, 30 comments)
  8. Those who went into the job market after an Econ Undergrad, what do you do and briefly what does it entail? by Akehc99 (44 points, 27 comments)
  9. Is free public transport a good idea? by Fart_Gas (44 points, 23 comments)
  10. What is the difference in knowledge between academic economists(Krugman, Acemoglu, Mankiw etc) and hedge fund managers and the like(Soros, James Simons)? by prman222 (44 points, 5 comments)

Top Comments

  1. 124 points: emeraldcity27's comment in Why do economists believe rent control policies harm the poor instead of carrying out the intent and helping them out greatly?
  2. 74 points: BainCapitalist's comment in What would happen if the US corporate income tax was abolished?
  3. 56 points: Calvo_fairy's comment in Could someone explain the wage gap and whether it's a myth or not.
  4. 56 points: RedditUser91805's comment in The EU is considering making product life expectancy a mandatory piece of info for consumer electronics. What would the economic implications of that be?
  5. 55 points: TheBellmanHimself's comment in Why is the Soviet Union generally considered to be a "failure"?
  6. 55 points: hbtn's comment in Why are Little Caesar's cheese pizzas the same price as its pepperoni pizzas?
  7. 54 points: arctigos's comment in What do most Economists think about The Economist?
  8. 49 points: sethg's comment in Why do economists believe rent control policies harm the poor instead of carrying out the intent and helping them out greatly?
  9. 47 points: RedditUser91805's comment in You've just been declared supreme potentate of Venezuela. Now how do you fix the economy?
  10. 47 points: smalleconomist's comment in What are the most commonly held misconceptions about economics among people with at least some background?
Generated with BBoe's Subreddit Stats
submitted by subreddit_stats to subreddit_stats [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome To The /Bitcoin Sticky FAQ

Maybe you're here because you've received a tip on social media, or maybe you've just been hearing a lot recently about Bitcoin and are wondering what the big deal is? The following videos are a good starting point for understanding how bitcoin works and a little bit about its long term potential:

What are Bitcoins worth and where can I buy them?

Bitcoins are valued at what market price people are willing to pay for them. Here are a couple useful sites 1 and 2 that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just google "1 bitcoin in (your local currency)".
You can buy or sell any amount of bitcoin (from as little as $1 worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank account. Some recommendations include:
US & Europe
Australia
China
All countries
Always do your own personal due diligence on the validity of an exchange and check the URL prior to sending them money or entering login credentials. Phishing sites are not uncommon. Use this checklist if you aren't sure which exchange to choose.

Where can I spend Bitcoins?

A comprehensive list can be found at TheBitcoinPage.com but some of the key ones are below:
Store Product
Microsoft Xbox games, phone apps and software
Spendabit and The Bitcoin Shop Search engines of online retailers accepting bitcoin with millions of results
Overstock Everything under the sun
Gyft Gift cards for thousands of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, etc.
Reddit Gold Premium membership which can be gifted to others
NewEgg, TigerDirect and Dell For all your electronic needs
Expedia, Cheapair and 9flats For when you need to get away
Wordpress, Namecheap, Mullvad and PIA Handy web services
Foodler and Takeaway Takeout delivered to your door!
HumbleBundle and GreenmanGaming For when you need to get your game on
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. UK residents can find a comprehensive directory of shops, pubs, websites and other places in the UK that accept bitcoins at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross and the RNLI. You can find a longer list here.

Merchant Resources

If you operate a business and want to accept bitcoin as a payment method, there are several options available:

Can I mine bitcoin?

Mining bitcoins can be a fun hobby but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The friendly folks at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network, you can run a full node by hosting the blockchain and propagating transactions. Here is a handy setup guide

Securing your bitcoins

With bitcoin you can be your own bank and personally secure your bitcoins or you can use trusted companies such as Coinbase and Circle which have secured wallets where they hold the bitcoins for you and provide insurance. Be sure to only deal with reputable companies, if you have any concerns about a company's trustworthiness just ask or check their consumer reviews and ratings.
If you prefer to have direct control over your coins without having to use a trusted third party you can use personal wallets for desktops / laptops, Android and iOS where you alone hold your private keys. Electrum, Mycelium and Breadwallet are popular, but there are many options.
Find a wallet that works best for you
For increased security use Two Factor Authentication (2FA) everywhere it is offered, including email! (2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access). Google Authenticator and Authy are two great apps for handling 2FA.
Additional security systems such as Mycelium Entropy (for printing multi-signature paper wallets) and the Trezor Hardware Wallet are great ways to easily secure your coins. Or, you can opt to secure your bitcoin using cold storage.
Note: Do not use brainwallets unless you are an expert, they are known to be vulnerable to theft unless set up correctly.

Earning bitcoins

Just like any other form of money, you can earn bitcoins by working for them. Here are a few resources for bitcoin jobs.

Tipping

Bitcoin Units

Note: This is a brief overview to the most commonly used Bitcoin units. For full information check out the Bitcoin Units wiki (work in progress).
One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common ones are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (ml) or millimeter (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μl) or micrometre (μm)
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 for one Bitcoin, a $10 meal would equal:
Still have questions? The friendly folks at /BitcoinBeginners would be happy to help you out. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit.
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending mod approval. The original sticky can still be found here.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BashCo to Bitcoin [link] [comments]

Bitcoin 2017 a Comprehensive Timeline

Some of the most notable news and events over the past year:
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submitted by BitcoinChronicler to btc [link] [comments]

Zeus/Gaw ASIC Setup Guide for Linux/Raspberry Pi

So I recently I became quite interested in mining and cyptocurrencies in general. So interested in fact that I bit the bullet and decided to buy myself a GAW Fury.
I then spent some time doing research on how to set up a GAW or Zeus ASIC on Linux, in particular on a Raspberry Pi, and have found most guides to be awful. The reason they are so bad IMHO is that they assume quite a bit of prior knowledge, either with Linux or mining, and give very little instructions. So I have tried to put together a guide that requires very little prior knowledge.
It is my aim that anyone could get their shiny new asic up and mining in no time using this guide. Anyway, I present...

The Complete Noobs Guide to Setting Up a Zeus or Gaw ASIC on Debian/Ubuntu/Raspberry Pi

Resources

About Cyrptocurrencies and Their Jargon

If you are new to cryptocurrencies and how they work I suggest taking a look at this series of KhanAcademy videos. They are for Bitcoin but the theory is the same. I found them very helpful when it came to understanding what mining actually does and the mechanics of cyrptocurrencies.
Also take a look at sircamm22 his info found here, is great and breaks down a large number of concepts. I slightly disagree with no. 21 regarding preordering. Just exercise common sense.

Linux

If you are new to Linux you could follow along by simply typing in the commands. However I highly recommend taking the time to learn what you are doing. This course is a great place to start.

Computer Setup

By the end of this section you will have your device turned on, fully setup and connected to the internet with.
Note: Commands to be typed into the command line will be displayed like this:
echo Hello World

Desktop/Laptop

For laptops and desktops already running Ubuntu or Debian I will assume you have setup your internet setup as part of the installation.
If not: There are plenty of guides out there and the installation/setup process is very easy. A good place to start for Ubuntu is here.
Now open up a terminal window. Ctrl + alt + t on a standard Ubuntu installation.
If you plan on using this PC without a monitor I would suggest installing an SSH Server.
These commands will be discussed later on in the guide.
sudo apt-get -y install openssh-server
sudo service openssh-server start

Raspberry Pi

The Raspberry Pi Foundation has put together a great guide in PDF format.
Use NOOBS it will save you a lot of trouble. NB: Some SD cards don't support NOOBs but will work fine if the image is put on using a different method.
Here is a great guide for setting up the Raspberry Pi SD card from Elinux.org. In fact it's a great place to start for anything RPi related. Raspberry Pi hub at Elinux.
Once the SD card is setup you will need to insert it into the Raspberry Pi and boot. Install Raspbian from the NOOBs menu and wait.
Follow this guide by Adafruit for first time setup. You will need to enable SSH Server.
I suggest not starting the desktop on boot. It can be easily run from the command line by typing startx.
Follow this guide by Adafruit to setup your network. Found here. No need to do this if you set up previously in the first time config.
We will also at this point want to setup ssh. Again I will point you to an Adafruit guide.
Once done exit back to a standard command line interface. This can be done in LXDE by using the power off menu located in the bottom right corner.

Miner Setup

Installing BFGMiner

If you want to the Raspberry Pi or PC without a monitor go ahead and SSH into your device.
So now you should be staring at a command line interface whether on the device with a monitor or via SSH.
First things first lets make sure we are all up to date. This will update our package list from the repositories and upgrade them to the newest version. "-y" Will simply say yes to any prompts.
sudo apt-get update && sudo apt-get -y upgrade
We are going to need to install some useful tools. Git-core is how we will clone and download BFGMiner from GitHub and Screen allows multiple command line instances and means if we exit out of ssh session or quit Terminal on Ubuntu, BFGMiner will continue to run.
sudo apt-get install git-core screen
We also need to download some other tools/dependencies to ensure that BFGMiner will compile successfully.
sudo apt-get -y install build-essential autoconf automake libtool pkg-config libcurl4-gnutls-dev libjansson-dev uthash-dev libncursesw5-dev libudev-dev libusb-1.0-0-dev libevent-dev libmicrohttpd-dev libc-bin
Ok now change into your home directory.
cd ~
And clone BFGMiner by Darkwinde.
git clone https://github.com/Darkwinde/bfgminer.git
Once the download has completed move into the bfgminer directory.
cd bfgminer
The following steps may take a while.
Now run autogen.sh
sudo ./autogen.sh
You will need to make the configure script execuitable.
sudo chmod +x ./configure
Now configure bfgminer
sudo ./configure CFLAGS="-O3" --enable-scrypt
Now lets make!
sudo make
Install BFGMiner
sudo make install
One more thing...
sudo ldconfig

Running BFGMiner

If you haven't already plug in your ASIC.
Just confirm your system is recognising the ASIC.
lsusb
Its output should look similar to this (no need to type this in):
Bus 001 Device 005: ID 10c4:ea60 Cygnal Integrated Products, Inc. CP210x UART Bridge / myAVR mySmartUSB light
Yep there it is our ASIC listed as device 005. There is no need to install any drivers, unlike in windows, as they come in the kernel.
Now lets actually start BFGMiner.
You will want to start a screen session to ensure BFGMiner doesn't quite when you exit.
"-S" is the option for starting a new screen session. You can replace "miner" with anything you like.
screen -S miner
Now you can run the commands below.
Here is a sample of what you should type. You will need to replace somethings with your own values.
sudo bfgminer --scrypt -o stratum+tcp://URL:PORT -u USERNAME -p PASSWORD --zeus-cc CHIPCOUNT --zeus-clk 328 -S zeus:/dev/ttyUSB0
Where:
URL:PORT is the address and port of the pool you wih to use. Now I won't suggest a pool. I will leave that decision up to you. If you do wish to mine DOGE take a look at this site for a list of pools and comparisons.
USERNAME this is the username you use on the pool. Every pool is different. Check your pool's website for details. PASSWORD same as above. Specific to your pool, not every pool requires one.
CHIPCOUNT this is specific to which ASIC you are using.
For GAWMiner ASIC's:
  • War Machine: 256
  • Falcon: 128
  • Black Widow: 64
  • Fury: 6
For ZeusMiner ASIC's:
  • Blizzard: 6
  • Cyclone: 96
  • Hurricane X2: 48
  • Hurricane X3: 64
  • Thunder X2: 96
  • Thunder X3: 128
Now to make sure you don't stop mining when you exit ssh or terminal. Press:
ctrl + a + d
To come back to the BFGMiner screen simply run:
screen -r miner
You're done!!

Start on Boot

First off you will want to make sure you have BFGMiner running correctly. Ensure you have the miners set up properly and your pool correctly configured.
Start a BFGMiner instance, detailed above.
Once the instance has started and you are happy with how everything is working press "s" on your keyboard to enter the settings menu.
Now press the "w" key. Don't press enter. We want to specify where our config will go. Type:
/home/USERNAME/bfgminer.conf
Substitute USERNAME for your user. On a standard RPI install its pi. On ubuntu it's what you set during the instillation.
Now press the enter key to return back to the main BFGMiner screen. Press "q" on your keyboard to exit BFGMiner. You should now be back in the command line.
Now we want to edit a file called rc.local. Any commands in this file will be executed on boot.
sudo nano /etc/rc.local
Depending on your system this file may already contain some commands. Be careful not to delete them.
After the last command and before "exit 0" type the following on one line:
sudo -u USERNAME screen -d -m sudo bfgminer --config /home/USERNAME/bfgminer.conf
Where USERNAME = your username
Hit ctrl + x then y to save and exit nano.
The above command will create a new screen session and run bfgminer using the config we created earlier. All while as our username so that we can easily reattach.
Lets reboot to ensure it is working correctly:
sudo reboot
Once rebooted and logged in, show all running screen sessions:
screen -ls
Reattach to the session. You only need to use the numbers before the first dot.
e.g Mine looks like: 2480..hostname (13/07/14 12:02:09) (Detached). So I type:
screen -r 2480
Verify everything worked as expected. Then ctrl + a + d to exit.
You have now setup BFGMiner to restart on reboot.

Power Failure

If you are using a Raspberry Pi and it loses power it will automatically reboot on receiving power again.
For standard desktop PCs there is an option in some BIOS/UEFI to turn the computer on when it receives power. Consult your motherboard's manual and manufacturer's website.

Sources

Here is where I got my info from.
And of course /dogemining

Wrap Up

Congrats you've done it. You have managed to successfully get your shiny new asic mining away.
I do plan to make another guide detailing how to setup and use StarMiner a ready to go RPi mining distro.
So I hope this is helpful for you guys. I have seen lots of posts asking the exact same questions again and again and I have tried to answer these as best I can. I am still learning about this stuff so if there is something I have missed or a mistake I have made please tell me.
Anyway good luck. And I'll see you at the moon.
Cheers Frogsiedoodle
Edit 1: Layout and formatting.
Edit 2: Added instructions for screen which I initially forgot.
Edit 3: Removed 1 unneeded dependency
Edit 4: Added section on start on reboot and power failure.
submitted by Frogsiedoodle to dogemining [link] [comments]

Supercharging primecoin and this subreddit

Hey folks,
So this subreddit hasn't been that popular and so I have some projects on the pipeline right now specifically based on primecoin that might be helpful. I have been working on these for a while and hope to get this all pushed out by June-July. This subreddit has a lot of potential and I think we can use it to promote primecoin!
  1. First and foremost: We need to spread more awareness about what primecoin is and how is it different, this is not your usual scrypt coin and has significant scientific value. I was thinking about making a 5-6 video course, like khan academy did for bitcoin on what primecoin is and how it's different. It's not that difficult to do but I need to have a better understanding of the basics and for that I need to ask you guys to point me to where to go in terms of literature and reading. Don't worry I'm not a n00b so I can catch on fairly quick.
  2. Another thing is the android wallet, I think it might be doable by forking one of the popular android wallets, I'm starting to work on it and will report my progress soon on it.
  3. We need to specifically purpose this coin, I love dogecoin because of the value behind it being used for tipping, in a way it shows respect towards the authomakecreator for what they have done on the internet. Any coin is only as good as the infrastructure supporting it so I will make a subreddit primecoininfra/ for that. I think primecoin can be used to re-purpose almost anything scientific. There are many projects out there for instance at CERN and so on, that we can donate to. Another area really is research for non-profits for diseases and the like, so that's one way to go about it and get publicity, trust me fellows if we give primcoin the kickstart that it needs, it will rise very very easily.
  4. Going off what I mentioned in 3, I will be launching a primecoin startup support platform. What that means is, it will be just like a sort of kickstarter but for scientific projects only. These projects will require moderate amount of funding and thus can be launched with moderate community interest.
  5. Another thing from the kickstarter that I would like to do is to build a stocks-platform for lifescience (there can be other categories) ventures. The idea here would be to open up new venues for folks to propose their startup-ideas who already have some funding. Then to get more funding for development they can post a kickstarter backer reward type system, if you give us x amount, you'll get y amount of shares of this startup, if that makes any sense. This again is all to purpose primecoin sort of how devcoin is made to support open source porjects and so on.
Primecoin can be the backbone of promoting startups and the scientific economy. What do you guys think? Please let me know more about your thoughts and if you guys are working on similar projects. PM me if you're interested on working on some of this stuff with me, I'd love to get more ppl to work on these projects!
submitted by blindswordsman to primecoin [link] [comments]

How does CryptoCurrency hold the two parties of a transaction accountable?

Late on the train, but I've recently had some exposure to CC and am fascinated. Watching the Khan Academy videos on Bitcoin to get some context, and one thing I'm confused about it is the lack of accountability.
Say Alice pays 10 BTC to Bob for a product. Bob gets the BTC, but fails to deliver on the product. In a centralized system, someone would be able to identify Bob and force him to deliver, or face consequences. I read this comment that half explained it:
Solving crimes, making up for loss or destruction, and making moral or value judgments aren't within the scope of Bitcoin. Same as cash: a dollar bill doesn't automatically fling itself back into the hands of the good guy. Bitcoin makes it easy to transfer value. That's it.
You're saying there's "no centralized authority." But there is: the courts. Depending on which country you live in, if Person A and Person B to exchange Thing C for Thing D, and Person B fails to deliver Thing D after receiving Thing C, then that's probably a breach of contract, and Person A can sue Person B. It doesn't really matter whether Thing C is cash, services, a truck, bitcoin, or an orange.
But it still doesn't answer this - one of the main advantages of CC is the privacy. Essentially everyone is using pseudonyms of sequences of numbers to make transactions. However, if Bob didn't deliver, now we have no idea who Bob is "irl" and so cannot make him responsible to deliver, or even face the courts.
Obviously this isn't such a huge issue as BTC, ETH, alts, etc are becoming so popular - but why isn't it a huge issue? Can someone explain?
submitted by ShayWhoPlaysAllDay to CryptoCurrency [link] [comments]

your feedback is needed

An article that I wrote which will be published in a newsletter to about 50k people
What is Bitcoin?
Wall Street Journal has being blogging about it, Dell.com started to accept it, and you probably have heard that it was hacked but somehow it is still around. Bitcoin is the first ever crypto-currency. Most of the attention from the media has being focused on Bitcoin’s price, and the fact that it allows for money laundering and drug trafficking.
For the start-ups such as Xapo and CIRCLE, who have raised $20 M and $17 M respectively, and the VCs, who have invested a total of $154M in cryptocurrency start-ups as of first-half of 2014, they see something more than the price. Simply put, they see it as a technology that has the potential to disrupt finance.
The questions that I get the most often are: • Who “owns” Bitcoin? • How are they created? • Is Bitcoin money? • How is this relevant to Actuaries?
Bitcoin has put the way finance work on its head and completely changed the way digital assets can be used, stored and traded. I will attempt to explain exactly how this is accomplished and provide some resources for those who are willing to dig deeper.
Who owns, creates and secures bitcoins?
Bitcoin started as an experiment by Satoshi Nakamoto. The goal for the experiment was to decentralize trust when you send and receive money. Bitcoin itself is an open-source project. It means that no one owns it. To join the network, everyone needs to have a compatible version of the software. Anyone can contribute to Bitcoin’s source code. As of now, there are a few core developers pushing for changes and updates within the software.
Bitcoins are created in a way that is intimately linked to how Bitcoin transactions are secured. The genius of Bitcoin is the fact that it allows for consensus throughout the network to emerge by a process called proof-of-work. The proof-of-work solves an important problem in computer science that originated half a century ago. There were previous attempt at solving the Byzantine Generals’ problem but none really succeeded until now.
People reach consensus and guarantee the legitimacy of financial records through a central entity. Be it bank, Paypal or a credit card processor, they all hold a central ledger that they are responsible for. When a payment is made either online or in stores, they take care of making updates to their central ledger.
Crypto-currencies do it in a completely different way. There are no central ledgers. Instead, “everybody who runs the (full) software has their own copy of the ledger.” This means no one has the power to cut off another connection, confiscate their assets, or charge them an unfair fee. The magic of Bitcoin was a way to incentivise people to maintain these ledgers in an honest way by paying those doing the work with bitcoins (mining). How this exactly works takes a while to grasp but the end-result is a cryptographic based system that incents everyone who is in the network, to secure the network.
Is Bitcoin money?
Legally, Bitcoin has being classified as property in the United States. The Canadian government just tabled a bill to regulate virtual currencies. Germany has recognized Bitcoin as private money. China has banned its financial institutions from Bitcoin transactions. Needless to say, regulator and politicians are starting to pay attention to this technology and figuring out how to protect their citizens and country. (Here is a list of Bitcoin’s legal status around the world.)
Socially things are a bit different. Sea shells, Rai stones, precious metals, and even Tide are used as a medium of exchange. It is “money” as long as one can spend it (there are thousands of online and offline locations to spend bitcoins). Currently, it is very confusing for the average user to acquire, store, and spend bitcoins. It needs to reach a point where everything is easy; someone needs to do with Bitcoin what Apple did with personal computers. Company such as Coinbase, Bitpay, CIRCLE and Blockchain are at the forefront of this effort, building a one-click solution for merchants and customers.
Why is this important to the insurance industry
Blockchain technology makes Bitcoin possible. While Bitcoin is the first application of this technology, there are already companies and start-ups that focus on other innovative applications. This technology allows a way to transact without a trusted third party. It does not have to stop at currency. It could be a parking ticket issued over the internet, or a digital “pink slip” as proof of ownership. Bitcoin 2.0 platforms are being built to fulfill promises of decentralising exchanges, prediction markets, cloud storage and name registry. One of such platform is called Etheruem. The hope is to create a platform on which anyone could write smart-contracts. Ultimately the developers are looking to build DAOs, or decentralised autonomous organization.
What about decentralized insurance? This might still be far down the road, but one thing is for sure, technology is breaking up the traditional value chain. With technological advancements, we will see more policies being sold online which are managed by independent brokers, claim adjusters, underwriters and actuaries. With the help of decentralised applications, anyone would be able to write a smart insurance policy, find a third party that is willing to hold the risk, and automatically treat for premiums, payouts, lapses and expiry.
Until Bitcoin, paper money is the most recent innovation on money. What we have here is a quantum leap towards what money and digital assets can be in the 21st century.Imagine a decentralised and secure database that every insurer and reinsurer has the access to instead of segregated database costing millions to reconcile and audit. Data and events are updated on the go with calculations of reserves and premiums done in real-time. There is a reason why so many bright minds are attracted to Bitcoin and its underlying technology.
As it is said in Bitcoinland: to the moon!
For those who are curious, Khan Academy has a series of videos that explains mining in more details.
submitted by eeeeeo to Bitcoin [link] [comments]

Money, banking and central banks  Finance and Capital ... Arbitrage basics  Finance & Capital Markets  Khan Academy Bitcoin - Digital Signatures Khan Academy - Bitcoin Course - YouTube

Khan Academy Bitcoin Series - Founded in 2008 by Salman Khan, the non-profit Khan Academy is on a mission to provide a free world-class education for anyone, anywhere. In fact, aside from their use in digital signatures, these hash functions are also used in other places in the bitcoin protocol as well. First of all, let me talk about what a cryptographic hash function actually is, and of course, as the name implies, the first thing it is, it's a hash function. Hey, I wrote this code to Khan Academy challenge for implement Insertion sort. It looks something isn't right here. Why Khan Academy doesn't take this code for right? – user124942 Aug 31 '15 at 13:33 Ethereum vs Bitcoin: Is Ethereum a Better Bitcoin Alternative? Ethereum vs Bitcoin: What is the difference between both? Is Ether the best Bitcoin alternative? Find it out in our detailed Ethereum vs Bitcoin guide. Check BEST-RATED Platforms Khan Academy Luckily, the platform stores a video course on Bitcoin, created by Zulfikar Ramzan, the CTO of cyber-security company RSA . A total of nine Youtube videos, the guide explains the most fundamental aspects of Bitcoin in plain words, including explanations of hash functions, digital signatures, proof of work, and so on.

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Money, banking and central banks Finance and Capital ...

Khan Academy is a 501(c)(3) nonprofit organization with the mission of providing a free, world-class education for anyone, anywhere. Our interactive practice... About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the ... Khan Academy 146,581 views. 9:47. SHA: Secure Hashing Algorithm - Computerphile - Duration: ... Math Behind Bitcoin and Elliptic Curve Cryptography (Explained Simply) - Duration: 11:13. Bitcoin: Overview Money, banking and central banks Finance & Capital Markets Khan Academy Bitcoin - The security of transaction block chains - Duration: 15:16. Khan Academy 84,282 views. 15:16. Language: English Location: United States Restricted Mode: Off History ...

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