1 Bitcoin Price to USD - Chart & Calculator

Bitcoin mentioned around Reddit: Haven't seen a full sheet calculating Price Per TH/s so I made one. Peace ✌ /r/GenesisMining

Bitcoin mentioned around Reddit: Haven't seen a full sheet calculating Price Per TH/s so I made one. Peace ✌ /GenesisMining submitted by BitcoinAllBot to BitcoinAll [link] [comments]

I'm trying to do the math on mining.

Given 100% of miners using the same miner, I tried to calculate the profitability of bitcoin mining. but the results seem off. I'm wondering where I went wrong.
"current terahashes (Th/s)" Mining Unit "mining non-current rate($/Th)" "mining non-current rate $/Th)" "Mining Efficiency (J/Th)" "Energy Requirments (J)" "Energy Requirements per Block (kWh) [0.000000277778 J/kWh]" "electric costs ($/kWh)" "current electrical cost to mine 1 block ($)"
8000000 Antminer T19; 84 Th/s; 37.5 J/Th; $1749; $20.82 $384,219.55 37.5 180000000000 50,000.04 0.0715 $3,575.00
current bitcoin reward current bitcoin price current block worth daily block rewards
6.25 9133 $57,081.25 $1,369,950.00
current profit ratio (%)
1596.48%

edit:

"current terahashes (Th/s)" Mining Unit "mining non-current rate($/Th)" "mining non-current rate $/Th)" "Mining Efficiency (J/Th)" "Energy Requirments (J)" "Energy Requirements per Block (kWh) [0.000000277778 J/kWh]" "electric costs ($/kWh)" "current electrical cost to mine 1 block ($)"
8000000 Antminer T19; 84 Th/s; 37.5 J/Th; $1749; $20.82 $5,859,348.20 37.5 2745000000000 762,500.61 0.0715 $54,518.79
current bitcoin reward current bitcoin price current block worth daily block rewards
6.25 9118 $56,987.50 $1,367,700.00
current profit ratio (%)
104.53%
submitted by qwer1234123412341234 to BitcoinBeginners [link] [comments]

An In-Depth Guide to: How do I Fix my Ledger Nano’s Stuck Ethereum Transaction?!?!?! (It’s Been Stuck for Weeks and NOTHING Traditional has Worked!!!!) As Well as: How Do I Choose My Nonce??? I’ve Tried MetaMask, MEW/MyEtherWallet, and Others, but Nothing is Working Correctly!!! I’m Dying by Stress!

So, if you were like me 1-2 months ago, you’ve probably already gone through 2,or 3, ...or 40 articles and guides that probably say something like:
“YeP, eVeRy EtHeReUm UsEr WiLl EvEnTuAlLy HaVe ThE LoW-gAs ExPeRiEnCe, YoU’rE nOt AlOnE! DoN’t FrEaK OuT tHoUgH; ThErE iS a WaY tO fIx It!”
Chances are, every time you read another useless article, you want to kill the nearest inanimate object, even though it was never alive in the first place. Nonetheless, you’re gonna kill it as much as it can be killed, holding nothing back; or, you’re just plotting to and slowly getting closer to executing the plan (and the object) every time you are insulted once again.
However, if you have the ability to download software (MyCryptoWallet) on a PC, it should be safe to relax now. I think you’ve finally found some good news, because I am 99.99...% sure this will work for the issue that so many people are having at this time, around the end of the month of May, year 2020.
More and more people are likely to be having this issue soon, since Ethereum's gas prices have been insanely high lately as well as having 300% price changes in a matter of minutes; Etherscan’s Gas tracker is nearly uselessly-inaccurate at this time. I've heard that there's a congestion attack; that was said a week ago, and it appears to be ongoing... (I can't think of any other suspect besides Justin Sun to blame it on... it must be incredibly expensive to overload the blockchain for this long... I may be wrong though...)
 
Let’s begin
For myself, I was trying to send an ERC20 token when this dreadful issue attacked. Specifically, the token was either BSOV or GRT; I sent them 1 after the other and the first succeeded, and the second one took over a week.
(They’re both great tokens in my opinion and deserve much more attention than they’ve been getting. BSOV is nearing its 1 year anniversary as I write this, and GRT is still in its 90 day community-development progress test, so of course I'm gonna take this opportunity to "shill" them; they are great tokens with great communities).
I was able to finally fix it, after a week of mental agony (also the txn finally processed 1-2 hours before I found the solution, robbing me of the gratitude of fixing it myself... (╯‵□′)╯︵┻━┻ ...but now I guess I can hopefully save some of you the headaches that I endured... ) I’m providing the ability to do the same, in a step by step guide.
Why did I go through all of this trouble? I'd fault the fact that I have ADHD and autism, which in my case can multiply each other’s intensity and cause me to “hyper-focus” on things, much much more than most with the same qualities, intentionally or not. Adderall is supposed to give me a bit of control over it, but except for in a very-generalized way, it’s still 90% up to chance and my default-capabilities to allow me control over my attention with self-willpower. But also Karma and Moons pls... ʘ‿ʘ
 
  1. In MyCrypto, (I'm using the Windows 10 app, version 1.7.10) you will open to a screen that says "How would you like to access your wallet?". Choose Ledger, of course. (Unless your here for some non-ledger issue? Idk why you would be but ok.)
  2. On the next screen (having your nano already plugged in, unlocked, and opened into the Ethereum app) click "Connect to Ledger Wallet"
  3. A screen overlay should appear, titled: "Select an Address". Here is where it may get confusing for some users. Refer to "AAA" below to know how to find your account. (Geez, sorry lol that was a huge amount of info for a reddit reply; I might've over-elaborated a little bit too much. but hey it's valuable information nonetheless!)
  4. After escaping the "AAA" section, you'll have accessed your account with MyCrypto. Awesome! To find your ERC20 tokens, (slight evil-laughter is heard from an unidentifiable origin somewhere in the back of your mind) go to "AAB".
  5. (You may have decided to find the token(s) on your own, rather than daring to submit to my help again; if so, you may pity those who chose the other path... ~~( ̄▽ ̄)~~) Now, once you've added your token, you should revert your attention to the account's transfer fill-out form!
  6. I'll combine the steps you probably understood on your own, already. Put in the address that your stuck transaction is still trying to send currency to. If an ERC20 token is involved, use the drop-down menu to change "ETH" to the token in trouble. Input your amount into the box labeled... wait for it... "Amount". Click on "+Advanced".
  7. Refer to Etherscan.com for the data you will need. Find the page for your "transaction(txn) hash/address" from the transaction history on the wallet/Ethereum-manager you used to send from. If that is unavailable, put your public address that your txn was sent from into the search tool and go to its info page; you should be able to find the pending txn there. Look to open the "more details" option to find the transaction's "Nonce" number.
  8. Put the nonce in the "Nonce" box on MyCrypto; you will contest the pending txn with a new txn that offers larger gas fees, by using the same nonce. If (but most likely "When") the new transaction is processed first, for being more miner-beneficial, the nonce will then be completed, and the old transaction will be dropped because it requests an invalid, now-outdated nonce. Your account will soon be usable!
  9. Go to the Gas Tracker, and it may or may not provide an informative reading. Choose whatever amount you think is best, but choose wisely; if you're too stingy it may get stuck again, and you'd need to pay another txn's gas to attempt another txn-fix.
  10. At the time I write this, I'd recommend 50-100 gwei; to repeat myself, gas requirements are insane right now. To be safe, make the gas limit a little higher than MCW's automatic calculation, you may need to undo the check-mark for "Automatically Calculate Gas Limit".
  11. Press "Send Transaction"!!!
  12. You will need to validate the action through your nano. It will have you validate three different things if you are moving an ERC20 Token. It's a good idea to verify accuracy, as always.
 
Well, I hope this worked for you! If not, you can let me know in a reply and I'll try to figure it out with you. I like making these in-depth educational posts, so if you appreciate it please let me know; I'll probably make more posts like this in the future!
( Surely this is at least far better than Ledger's "Support" article where they basically just tell you "Yeah, we haven't bothered to make a way to manually select nonces. I guess we might try to make that available for Bitcoin accounts at some point in the future; who knows? lol"... that's not infuriating at all, right?)
 
AAA:
Before I tell you how to find your address, I will first make it clear, within the italicized text, exactly which address you are looking for, if you are not already sure:
You may also skip the text written in italics if your issue does not include an ERC20 token, if you wish.
Ledger Live can confuse some users with its interface. On LL, to manage an ERC20 token, you first must go to your Ethereum account and add the token. When you then click on the added token under "Tokens" below the graph chart for your account's ETH amount over time, the screen will then open a new screen, that looks just the same, except focused on the specific ERC20 token. To confuse users further, there is then an option to "Star account", which then add the ETH icon with the ERC20 token's first letter or symbol overlapping, onto the easy access sidebar, as if it was another account of similar independency to the ETH account it was added to.
This improperly displays the two "accounts" relation to each other.
Your ERC20 holdings (at least for any and all ERC20 that I know of) are "held" in the exact-same address as the Ethereum address it was added to, which also "holds" any Ether you've added to it. You send both Ether (ETH) and any ERC20 Tokens to and from only Ethereum addresses of equivalent capabilities, in both qualities and quantities. In all basic terms and uses, they are the same.
So, to know what the problematic account's address is, find the address of the Ethereum account it was added to in Ledger Live.
Now, to find your address on MyCrypto, the most reliable way to find it, that I am aware of, is this:
Open Ledger Live. Go to the screen of your Ethereum address (again, this is the one that you added your ERC20 token, if applicable. If you're not dealing with an ERC20 token, you may ignore everything I've put in Italics). Click on "Edit account"; this is the icon next to the star that may look like a hex-wrench tool. On the new screen-overlay, you will see "> ADVANCED LOGS". Click on the ">" and it will point down while revealing a drop-down with some data that you may or may not recognize/understand. Likely to be found indented and in the middle-ish area, you will see this line, or something hopefully similar:
"freshAddressPath": "44'/60'/X'/0/0",
The "X" will probably be the only thing that changes, and the actual data will have a number in its place; it will not be a letter. Let's now put that line to use in MyCrypto:
Take the 44'/60'/X'/0/0 , and make sure you DO NOT copy the quotation marks, or that comma at the end either.
You can do this before or after copying and/or pasting, but drop the second "/0" at the end; it was not necessary in my case, I expect that you won't need it either, and will probably just make MyCrypto see it as an invalid input.
Okay, now go back to the "Select an Address" screen-overlay in MyCrypto.
Next to "Addresses", click on the box on the right, and you should be shown a list of options to select from in a drop-down menu.
Scroll all the way down, and you should find the "Custom" option at the very bottom. Select it.
A new box will appear; probably directly to the right of the now-shortened box that now displays the "Custom" option that you just selected. This box will offer an interface for typed input. ...yep... once again, believe it or not, you should click it.
Type " m/ ", no spaces before or after.
Type in or paste the data we retrieved from ledger live.
The box should now hold this:
m/44'/60'/X'/0
Again, X should be a number. In fact, that number is probably equal to the number of Ethereum (not including any ERC20 wannabe) accounts that you've made on Ledger Live before making the one we're working on right now! (1st Eth. Acc. would have: X = 0, 2nd: X = 1, 3rd: X = 2, ...)
Make sure you've included every apostrophe ( ' ), and solidus ( / ); there is NO APOSTROPHE for the "m" at the start and the "/0" at the end!
If you press the enter key or click on the check-mark to the right of where you typed, the appropriate addresses will be generated, and the address you created through Ledger Live should be the first one on the list!
Select your address and press "Unlock", and you are now accessing your account through the MyCrypto app's interface!
 
AAB:
In order to access your ERC20 token, you will need to add them first.
You may have to scroll down, but on the right-side of your unlocked account screen, you'll see a box with "Token Balances" as its header.
Click "Scan for tokens". This may take a short bit of time, and when it's done it may or may not display your ERC20 token. If it worked, you can head on back to the main part.
If you got the result I did, it won't display your token, or, if our result was exactly the same, it won't display any at all. However, you should now have the "Add Custom Token" option available, so see where that takes you.
You should discover four boxes, specified in order (Address/ Decimals / Token_Symbol / Balance). You may only need to fill in the "Address" box, but if you need to fill others, you'll find those with the token's address; here's 2 ways to find it, if you don't already know.
Method I:
Since you've probably already been managing your token with Ledger Live, you can go to the LL screen of your "account" for that token; Right next to the account's icon, and directly above the name, you'll see:
Contract: 0x??????...????????
Yes, go on; click it. You'll find the token's page on Etherscan; this was just a shortcut to the same place that both of the two previously referenced methods lead to. Skip to method... III?
Method II:
Go to Etherscan.com, or a similar Ethereum-blockchain-monitoring website, if you have a different preference. Search for the name of your token, and you should be able to see it as a search result. Activate your search manually of by selecting search option. Continue on with Method III.
Method III (Iⅈ what makes you think there was a third method? I said 2!):
At this point, you should find the "contract address" somewhere on the screen. This is the identity of the creature that breathes life into the token, allowing it to exist within the world of Ethereum. Steal it, and tell MyCrypto that you've left some of "your" tokens in the address of your ledger's Ethereum account. MyCrypto will trust and believe you without any concern or doubt, just by putting "your" contract address in the box for "Address"; it's almost too easy!
Well whaddya know, this one isn't actually too long! Don't tell anyone who may have taken a little longer whilst finding out how to do it themselves, though. There's value in trying to do something on your own, at least at first, so I'll let them think they made the right choice (¬‿¬). But take this star for humbling yourself enough to seek further help when you need it, since that is a very important life skill as well!
(o゜▽゜)o☆
Now, back to the useful stuff at the top...
 
EDIT: A comment below made me realize that this info should be added too. Here is my reply to the comment saying I could just use MetaMask. I said in the title that this guide is for questions where MEW and MetaMask aren’t working, but I guess it’s easy to miss. I used my u/caddark account to respond:
(Using this account because u/caddarkcrypto doesn’t meet the karma/age standards to comment; the post had to be manually approved.)
I guess I didn’t make it entirely clear; sorry:
The target audience for this guide is anyone with a stuck Ethereum transaction that was initiated through Ledger Live AND are experiencing the same difficulties I had encountered while trying to fix this issue for myself.
This wasn’t any regular stuck Ethereum transaction. Apparently before, there was an issue that made a Ledger Nano nearly impossible to connect to MetaMask (which is also Brave Browser’s integrated “crypto wallet” for the desktop version) and/or MEW (also perhaps any other browser wallets made for chrome and/or brave) that I heard was supposed to be fixed in a recent update. It might’ve been mostly patched, idk, but during my experience, (in which I was using the latest version of Ledger Live that is available right now,) that issue still remained.
The really weird part was that it successfully connected to the browser wallets again after I fixed the stuck transaction. At first I thought that somehow the txn was what was bugging the connection. However, later, during no txn issues, I was again unable to connect.
Seeing the same connection error again later, I opened up the MCW app I downloaded the day before, and was going to just use that. While in the process of operating MCW, I suddenly had another idea to try for the browser wallet so I went back to that just to quickly test it.
The browser wallet worked perfectly...
I don’t know how, but I think that somehow, something in MCW’s software, makes the browser wallets work. They don’t work for me without having MCW opened in the background first.
EDIT 2: Markdown decided to stop working after I did the first edit... I might fix it tomorrow... how did that happen though??? What did I do?
EDIT 3: nvm, I'm just fixing it now; I won't get much sleep tonight I guess.
submitted by CaddarkCrypto to CryptoCurrency [link] [comments]

Bitcoin at $ 288,000? BTC price shows bullish signal like 2016

Bitcoin at $ 288,000? BTC price shows bullish signal like 2016
Bitcoin's price development has been relatively stable in recent weeks.
The cryptocurrency has been trading in the $ 9,200 range since early June, which is the price at the time of publication.
However, Bitcoin is currently showing signals that could indicate an upcoming bull market.
According to a report by the Kraken Stock Exchange, Bitcoin is only a 10% jump away from entering a massive upward trend.
As Kraken describes, to enter a bull market, Bitcoin must break the key resistance at $ 10,500, as shown below.
https://preview.redd.it/0d4bm64zsla51.png?width=1276&format=png&auto=webp&s=b3a670c135792f34af6714fc8ab9d48cef7dc77e
With that in mind, the report says Bitcoin could soon break resistance or take the risk of testing support at $ 6,000 to $ 7,000.
This would end a period that some analysts have described as very stable. In fact, this is similar to the price development in 2016 and 2017, when Bitcoin initially tended to move sideways for a very long time and finally reached its all-time high of USD 20,000 in late 2017.
According to analyst Moon Capital, the Bitcoin hash ribbons have crossed, revealing a massive buy signal that has historically pushed Bitcoin's price up. The signal was also there before the 2017 Bull Run.
Therefore, the analyst predicts that BTC will rise to $ 288,000.
The "hash ribbons" indicator is based on the hash rate of the Bitcoin network.
It is calculated by comparing the short-term moving average and the long-term moving average of the Bitcoin hash rate. As soon as these two cross, a bullish indicator is generated.
A breakdown is considered bearish.
Capriole's digital asset manager, Charles Edwards, also noted the formation of this indicator.
However, Edwards recommended waiting until midnight today (July 12th UTC) for the crossing of the hash ribbons to be confirmed. He also said the BTC price for confirmation should close above $ 9,230.

Bitcoin fundamentals support upcoming uptrend

On the other hand, Bitcoin's fundamentals seem to support a bull market. Bitcoin's hash rate has increased significantly since the difficulty adjustment in June.
According to blockchain.com, the hash rate of Bitcoin reached a new high of 125.99 terra hashes per second (TH / s) on July 7.
In this context, analyst and inventor of Bitcoin's stock-to-flow model, Plan B, said Bitcoin has weathered the worst of the past few months.
In addition, he stressed that the cryptocurrency will soon peak at its hash rate, confirming the good health of the Bitcoin network.
submitted by jakkkmotivator to thecryptobasic [link] [comments]

Actual cost of a 51% attach, $10.2 million

So I was discussing this last week and honestly it all felt too simple, so I'm trying to get some stronger counterpoints to this argument. Goes something like this.
You have some pool miner that wants to do a 51% attack. Lets assume the attack has three phases, the first phase is to try to accumulate 51% of the hashing power, next is the accumulation of more hashing power by ejecting other pools from through reorg. Finally when they aquired enough mining power they could blacklist exchange hotwallets or all manner of nefariousness. Lets further assume that everyone will act purely in their own self interest. For simplicity lets call the attacker "Spectre Pool".

Accumulation Phase

Assuming Spectre Pool can hit something like 41% of the hashing power, the first goal is to accumulate more resources to hit 51%. Since pool mining is a commodity market, all Spectre has to do in this imaginary world is offer more than the market rate. Since they are already at 41% hashrate, they need to entice another 10% of the market to come to their pool. The obvious way to do this would be to offer a "new customer bonus" or something like that. Some promotion where they pay 1% above market price for the hashing power of pool members. So, given a network hashrate of 116.73 EH and a market rate of 0.101 USD/TH per day, the cost they would have to bear to offer a 1% promotion to entice 10% of the network would be:
116.73_EH / 0.101_USD/TH * 10% * 1% = 1,155,742 USD per day for each 1% "bonus"
So, assuming they were willing to spend that much on "marketing", and that all miners worked in their own self interest, eventually they could lure enough miners over to achive 51%. Once they hit this threshold they could scale back on the "marketing" and thus reduce their daily burn.

Acceleration phase

Once at 51%, the next attack of Spectre will be to put their smallest competitor out of buisness. Lets call that the "Bond Pool", and pretend that Bond has 1.5% of the network hashing power. To put Bond out of buisness, with 51%, Spectere will need to reorg whenever Bond wins a block. By reorging to a chain without Bond, this will put Spectre one block behind and they will need to catch up. Once the reorg begins, Spectre will need to produce the longest chain on its own while starting one block behind. So we need to determine how long (statisticly) it will take Specter to produce n+1 blocks and compare that to how long (statisticly) it will take Bond to win one block.
Although this can be hammered out in an iterive calculation, a better approach will be an algebraic solution. Lets walk through the equations:
You can put the following into a GeoGebra CAS calculator to substitute and simplify the equations
solve(n*m = s*(n+1), n) M = 1/2-d S = 1/2+d m = t/M s = t/S solve(n*m = s*(n+1), d) n = s/(m-s) b = m*M/p solve(b = s*(n+1),p)
This will produce the following equations for the values we are interested in.
m(t,d): t/(1/2-d) # from `m` define s(t,d): t/(1/2-d) # from `s` define n(s,m): s/(m-s) # from `n` solve d(n): 1/(4*n+2) # from `d` solve p(d): 2*d # from `p` solve b(t,p): t/p # from `b` define
Plugging the equations into excel produces the following (assuming t=10)
n d p m s b
25 0.98% 1.96% 20.40 19.62 510
20 1.22% 2.44% 20.50 19.52 410
15 1.61% 3.23% 20.67 19.38 310
10 2.38% 4.76% 21 19.09 210
5 4.55% 9.09% 22 18.33 110
4 5.56% 11.11% 22.50 18 90
3 7.14% 14.29% 23.33 17.50 70
2 10% 20% 25 16.67 50
1 16.67% 33.33% 30 15 30
So once d=0.98%, Specture will have 50.98% of the hashing power, allowing him to eject 1.96% of all blocks mined at will. Of course this is all statistical, so Spectre will want some margin for randomness. So it would make sense to attach 1.5% of the blocks when Spectre reaches 51%
So once Spectre reaches 51% he has enough hashing power to prevent any of Bonds blocks (1.5%) from being included. Spectre can win a reorg (statistically) every 8.5 hrs and Bond can only produce a block (statisticly) every 11.1 hours. So once this attack starts, Spectre simply flashes his promotion to lure the miners in the Bond pool (who are receiving no reward) over to the Spectre pool. If he only gets one third of them, then he can increase his influence to 52%
Doing the same math again, with 52% Spectre can ice out any pool who has up to 4% of the hashing. Then running the promotion, Spectre will try to get 40% of the "homeless miners". Now Spectre's power grows to 55% giving him the power to ice out 10% of his competitors. This can cascade on and on until Spectre is the only public pool left.
Now, at 51% the attack and reorgs take many hours, but as more and more pools get targeted, more and more miners will jump ship and end up at Spectre so long as they can hold the promotion. Bond's only choice would be to either close up, or leverage everything and mine at a loss for weeks hoping that Spectre eventually drops below the threshold for his attack.
Of course Spectre has even more tremendous expenses. To offer the 1% promo to 10% of the network would cost Spectre $1.16 million / day, or 3.52 million per month for each percent of miners it lures over. So going from 41% to 61% would cost Spectre $70.3 million / month, but at that point he can attack 20% of the network giving him a reach of about 80% which is pretty much the entire pooled mining capacity today. Seems like $70 million is a small price to pay to buy the entire bitcoin network.
Other expenses Spectre would accrue would be related to the attacks and reorgs. The early attacks will take hours and throughout Spectre needs to continue payouts to the pool even though he is generating no BTC durring the attack. So long as his chain is orphaned, his blocks have no value. Only after the attack and reorg when his chain becomes longest will he be able to claim the block reward for all the blocks he minded. This (in my opinion) will the the hardest challenge. The first attack and 25 block reorg will require Spectre to put his entire 51% hashing power on an orphaned chain for 8 hours requireing $208.6 million in payouts. Once he wins the attack and the chain reorgs he can cover his expeses with the block reward, but borrowing $208 million for 8 hours is still a very difficult thing to pull off. The interest alone on the attack is over $40,000 (20% interest compounded continually). Below is a table of the calculations
Specte Bond Promo Cost Hrs Blks Levrg / Block Reorg Leverage Rate Int Cost
51.00% 1.50% $1,155,743 8.497 25 $8,025,990 $208,675,743 20% $40,485
51.50% 2.50% $1,232,745 5.825 17 $8,025,990 $144,467,822 20% $19,215
52.50% 4.50% $1,336,143 3.492 10 $8,025,990 $88,285,891 20% $7,039
54.50% 7.50% $1,562,998 2.141 6 $8,025,990 $56,181,931 20% $2,746
58.50% 14.50% $2,023,385 1.140 3 $8,025,990 $32,103,960 20% $835
66.70% 33.30% $2,970,442 0.500 1 $8,025,990 $16,051,980 20% $183
Of course, once Spectre gets 2/3 of the hashing power he controls the entire chain since he can include or exclude any block he wants. So this "Total Self Interest" simulation of a 6 day attack puts Spectre's expenses at $10.3 million in promotions and $71,000 in interest, or about $10.4 million total.
1 - All "hashes" are hashes per second
2 - TH = 1012 or 10004 hashes per second
3 - EH = 1018 or 10006 hashes per second
4 - Assume a market rate of 0.101 USD / TH / day
5 - Assume an average daily network hashrate of 116.73 EH
submitted by brianddk to brianddk [link] [comments]

Test post

TH = 1012 = 10004 hashes_per_second EH = 1018 = 10006 hashes_per_second
21.113
0.101 daily USD per TH/s
116.73 EH/s
So I was discussing this last week and honestly it all felt too simple, so I'm trying to get some stronger counterpoints to this argument. Goes something like this.
You have some pool miner that wants to do a 51% attack. Lets assume the attack has three phases, the first phase is to try to accumulate 51% of the hashing power, next is the accumulation of more hashing power by ejecting other pools from through reorg. Finally when they aquired enough mining power they could blacklist exchange hotwallets or all manner of nefariousness. Lets further assume that everyone will act purely in their own self interest. For simplicity lets call the attacker "Spectre Pool".

Accumulation Phase

Assuming Spectre Pool can hit something like 41% of the hashing power, the first goal is to accumulate more resources to hit 51%. Since pool mining is a commodity market, all Spectre has to do in this imaginary world is offer more than the market rate. Since they are already at 41% hashrate, they need to entice another 10% of the market to come to their pool. The obvious way to do this would be to offer a "new customer bonus" or something like that. Some promotion where they pay 1% above market price for the hashing power of pool members. So, given a network hashrate of 116.73 EH and a market rate of 0.101 USD/TH per day, the cost they would have to bear to offer a 1% promotion to entice 10% of the network would be:
116.73_EH / 0.101_USD/TH * 10% * 1% = 1,155,742 USD per day for each 1% "bonus"
So, assuming they were willing to spend that much on "marketing", and that all miners worked in their own self interest, eventually they could lure enough miners over to achive 51%. Once they hit this threahold they could scale back on the "marketing" and thus reduce their daily burn.

Acceleration phase

Once at 51%, the next attack of Spectre will be to put their smallest competitor out of buisness. Lets call that the "Bond Pool", and pretend that Bond has 1.5% of the network hashing power. To put Bond out of buisness, with 51%, Spectere will need to reorg whenever Bond wins a block. By reorging to a chain without Bond, this will put Spectre one block behind and they will need to catch up. Once the reorg begins, Spectre will need to produce the longest chain on its own while starting one block behind. So we need to determine how long (statisticly) it will take Specter to produce an n+1 blocks and compare that to how long (statisticly) with take Bond to produce another block.
Although this can be hammered out iterive calculations, a better approach will be an algebraic solution. Lets walk through the equations:
You can put the following into a GeoGebra CAS calculator to substitute and simplify the equations
solve(n*m = s*(n+1), n) M = 1/2-d S = 1/2+d m = t/M s = t/S solve(n*m = s*(n+1), d) n = s/(m-s) b = m*M/p solve(b = s*(n+1),p)
This will produce the following equations for the values we are interested in.
m(t,d): t*(1/2-d) # from `m` define s(t,d): t*(1/2-d) # from `s` define n(s,m): s/(m-s) # from `n` solve d(n): 1/(4*n+2) # from `d` solve p(d): 2*d # from `p` solve b(t,p): t/p # from `b` define
Here's a table
n d p m s b
25 0.98% 1.96% 20.40 19.62 510
20 1.22% 2.44% 20.50 19.52 410
15 1.61% 3.23% 20.67 19.38 310
10 2.38% 4.76% 21 19.09 210
5 4.55% 9.09% 22 18.33 110
4 5.56% 11.11% 22.50 18 90
3 7.14% 14.29% 23.33 17.50 70
2 10% 20% 25 16.67 50
1 16.67% 33.33% 30 15 30
solve(nm = s(n+1), d) n = s/(m-s) b = m*M/p
``` Tb = The avg time between blocks won by Bond durring the reorg Ts = The avg time for Spectre to produce a block durring the reorg Tm = The avg time for the main chain to produce a block durring the reorg n = The number of blocks Specter will need to reorg
Tb = 10_min / 49% / 3% = 10.89 Hrs Ts = 10_min / 51% = 19.61 Min Tm = 10_min / 49% = 20.41 Min
Solve for the amount of blocks Specter can reorg Tmn > Ts(n+1) Tnn > Tsn + Ts n > Ts/(Tn - Ts) n > 24.5
Therefore: Spectre can produce 26 blocks faster than the main chain can produce 25. Specter has to win the reorg before Bond produces another block
Assert: Ts * (n+1) < Tb 19.61_min * 26 < 10.89_hrs 8.50_hrs < 10.89_hrs ```
So once Spectre reaches 51% he has enough hashing power to prevent any of Bonds blocks from being included. Spectre can win a reorg (statistically) every 8.5 hrs and Bond can only produce a block (statisticly) every 10.89 hours. So once this attack starts, Spectre simply flashes his promotion to lure the miners in the Bond pool (who are receiving no reward) over to the Spectre pool. If he only gets one third of them, then he can increase his influence to 52%
Doing the same math again, with 52% Spectre can ice out any pool who has up to 7% of the hashing. Then running the promotion, Spectre will try to get 40% of the "homeless miners". Now Spectre's power grows to 55% giving him the power to ice out 16% of his competitors. This can cascade on and on until Spectre is the only public pool left.
1 - All "hashes" are hashes per second 2 - TH = 1012 or 10004 hashes per second 3 - EH = 1018 or 10006 hashes per second 4 - Assume a market rate of 0.101 USD / TH / day 5 - Assume an average daily network hashrate of 116.73 EH
``` solve(nm = s(n+1), n) M = 1/2-d S = 1/2+d m = t/M s = t/S solve(nm = s(n+1), d) n = s/(m-s) b = mM/p solve(b = s(n+1),p)
m(t,d): t(1/2-d) # from m define s(t,d): t(1/2-d) # from s define n(s,m): s/(m-s) # from n solve d(n): 1/(4n+2) # from d solve p(d): 2d # from p solve b(t,p): t/p # from b define ```
submitted by brianddk to brianddk [link] [comments]

05-05 19:14 - 'An Island Nation with Bitcoin as the currency' (self.Bitcoin) by /u/Decamerch removed from /r/Bitcoin within 72-82min

'''
Hello all,
I am here with my plan for my [subreddit]1 Reddit Nation
If you are interested in joining a (hopefully) newly formed island nation then this is the place to be.
I have prepared a plan that explains how we will go about doing such a task. More detailed elaborations for each component of the plan will be given at request.
Obviously the first question is where we would have our island. I have identified places of interest. One place of interest is the Nation of Belize. Belize is a small nation with a low GDP of 2 Billion and they are selling off most of their island. Islands with 50-100 acres can be acquired for around 500,000; give or take 50,000. From the people (Government Officials) I have contacted, they are perfectly okay with this plan.
Now here is a 5 step proposal of how this will come to fruition (I will expand on how we will finance this)
  1. Acquire the island
  2. Set up the initial infrastructure
    1. Form of Government that I propose is a constitutional monarchy
      1. Country will be run as a democracy (two chamber form of parliament)
      2. Noble titles such as Duke, Earl, Count, Lord, Baron etc will be sold off to help initially finance the island.
    2. Establishment of the Government Building
      1. For now this is where the government will convene until more infrastructure is added and the island is improved.
      2. People will be made citizens at this location
    3. Establishment of Civil Services
      1. Waste collection, Police, Social Services
    4. Establishment of a Port
      1. This will allow supplies to enter the island.
      2. This will allow for the island to participate with the rest of the world economically(I will expand on this later).
      3. The port will function as the entrance point and exit until the runway can be constructed.
    5. Establishment of Resident Housing
      1. This temporary housing will be until the island can be developed and more permanent buildings can be put up.
      2. Resident Housing and the Government building will be set up near the port until island development is completed
    6. Set up a massive solar powered crypto mining operation to help finance further development of the island
      1. A partnership with big mining companies can be brokered to have this set up
  3. Make the Island a desirable location
    1. Set up the island as a luxury city
      1. Free housing for citizens
      2. Free healthcare for citizens
      3. Free schooling and university for citizens
    2. Build resorts and legalize gambling on the island
      1. The revenue generated from such activities will help finance further development of the island
      2. With the revenue generated from this, the island will be able to provide for the residents a luxury city
      3. The gambling industry investments will help to finance the island as well
    3. Make the island a banking haven
      1. Set up a bank on the island
      2. No KYC laws will be enforced on the island
      3. This will attract forgien investment into the island
    4. Allow cryptocurrency companies to conduct business without oversight and for miners to set up large scale operations using solar powered energy
    5. No income tax,sales tax, capital gains tax or corporate on the island
      1. Commercial businesses such as casinos, resorts, and banks will just pay slightly inflated property taxes
      2. This will help attract a lot more forgien investment as well
      3. Will attract companies to set up offices here and thus bring jobs to the island.
  4. Expand on the island infrastructure
    1. Build an airport. The islands have enough space to accommodate runways for planes even up to jumbo jets
    2. Build more free luxury housing for residents
    3. Establish schools and universities
    4. Establish libraries
    5. Establish Museums
    6. Establish a healthcare system
  5. Enjoy the luxury haven of an Island that we have built
Now for the question of how much this island will cost and how we will get the funding
According to my calculations (you can look at them below) it will cost us $2,600,000
Now in regards to how we will raise that sum
If you have made it this far, please join the [subreddit]1 for this plan
More information to come soon, thank you.
'''
An Island Nation with Bitcoin as the currency
Go1dfish undelete link
unreddit undelete link
Author: Decamerch
1: www.reddi**co*/*/T**Red*itNatio*/ 2: www.*e**it.com/Th**edd*tN*tion*
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Reinvesting vs. Profit Taking...

Hi all, new to cloud mining and researching at the moment.
I was wondering whether anybody could share their experiences and things to consider regarding 'reinvesting' vs. profit taking.
As I understand, retaining the same hash rate as the difficulty adjustment increases reduces your reward. Reinvesting your reward into greater hash power will merely keep you treading water in terms of your reward rate, and eat into your take home profits. Surely there comes a point where you decide to stop reinvesting and take the profit instead?
Or am I correct in thinking that people reinvest to retain their hash power, with the expectation that the coin will be worth considerably more in the future and the profit can be taken by cancelling the reinvest option further down the line where the profits will be greater?
Is my above logic correct? What other considerations are there? Are there reinvesting strategies that people use?
Thanks in advance.
submitted by krom1985 to hashflare [link] [comments]

Trying to understand cloud miners

I've been chekcing out a few cloud based mining sources like pool.bitcoin.com and I just can't seem to make heads nor tails of what to expect
For example on the bitcoin pool site, it doesn't seem to matter if it's for 6 months, a year, or two years, at any TH/s, the price you pay is coming in at a net loss by the end of it.
For example, 6 months of 500 TH/s for an upfront cost of $7,495 supposedly turns $31.48 worth of BCH per day (I understand the price fluctuates, this is the price the sites calculator gives me for today)
But then when I check out what that's supposed to end up with that only winds up to being $5,745 worth of BCH

1 year of 100TH/s for an upfront cost of $2,500 is to earn about $6.30 worth of BCH per day, but only ends up being $2,300 earned after 365 days

Is this the expectation, or is it just a bad day to be looking up these prices? I'm just wondering why i'd invest buy into these plans instead of, for example, trading?

Sorry for the noobie question, please don't roast me too badly, i'm just confused right now

Thank you
submitted by DJDarkViper to CryptoCurrency [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
The following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
For some more great introductory videos check out Andreas Antonopoulos's YouTube playlists, he is probably the best bitcoin educator out there today. Also have to give mention to James D'Angelo's Bitcoin 101 Blackboard series. Lots of additional video resources can be found at the videos wiki page or /BitcoinTV.
Key properties of bitcoin
Some excellent writing on Bitcoin's value proposition and future can be found here. Bitcoin statistics can be found here, here and here. Developer resources can be found here and here. Peer-reviewed research papers can be found here. The number of times Bitcoin was declared dead by the media can be found here. Scaling resources here, and of course the whitepaper that started it all.

Where can I buy bitcoins?

BuyBitcoinWorldwide.com and Howtobuybitcoin.io are helpful sites for beginners. You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also, check out the bitcoinity exchange resources for a larger list of options for purchases.
Bank Transfer Credit / Debit card Cash
Coinbase Coinbase LocalBitcoins
Gemini Bitstamp LibertyX
GDAX Bitit Mycelium LocalTrader
Bitstamp Cex.io BitQuick
Kraken CoinMama WallofCoins
Xapo BitcoinOTC
Cex.io
itBit
Bitit
Bitsquare
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Cashila or Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
Another interesting use case for physical storage/transfer is the Opendime. Opendime is a small USB stick that allows you to spend Bitcoin by physically passing it along so it's anonymous and tangible like cash.
Note: 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 the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

A more comprehensive list can be found at the Trade FAQ but some more commons ones are below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Steam, HumbleBundle, Games Planet, itch.io, g2g and kinguin For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, The Bitcoin Shop, Overstock, DuoSearch, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Cashila, Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, Pey.de, LivingRoomofSatoshi, Hyphen.to, Coinsfer, GetPaidinBitcoin, Coins.co.th, More #1, #2 Bill payment
Foodler, Menufy, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BoltVM, BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun For new domain name registration
Stampnik and GetUSPS Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap, 99Bitcoins and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, 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 crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. Bitseed is an easy option for getting set up. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Watchmybit, Streamium.io, OTika.tv, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip, WillPayCoin Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)

Bitcoin Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mirror Smart contracts
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bitsquare Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Bitmesh and Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium and Faradam Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
Coinometrics Institutional-level Bitcoin Data & Research
Blocktrail and BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
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:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. 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. A complete list of bitcoin related subreddits can be found here
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 approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BinaryResult to Bitcoin [link] [comments]

12-03 20:44 - 'An Island Nation Composed of Redditors' (self.europe) by /u/OGKebabEater removed from /r/europe within 105-115min

'''
Hello all,
I am here with my plan for my [subreddit]1 Reddit Nation
If you are interested in joining a (hopefully) newly formed island nation then this is the place to be.
I have prepared a plan that explains how we will go about doing such a task. More detailed elaborations for each component of the plan will be given at request.
Obviously the first question is where we would have our island. I have identified places of interest. One place of interest is the Nation of Belize. Belize is a small nation with a low GDP of 2 Billion and they are selling off most of their island. Islands with 50-100 acres can be acquired for around 500,000; give or take 50,000. From the people (Government Officials) I have contacted, they are perfectly okay with this plan.
Now here is a 5 step proposal of how this will come to fruition (I will expand on how we will finance this)
  1. Acquire the island
  2. Set up the initial infrastructure
    1. Form of Government that I propose is a constitutional monarchy
      1. Country will be run as a democracy (two chamber form of parliament)
      2. Noble titles such as Duke, Earl, Count, Lord, Baron etc will be sold off to help initially finance the island.
    2. Establishment of the Government Building
      1. For now this is where the government will convene until more infrastructure is added and the island is improved.
      2. People will be made citizens at this location
    3. Establishment of Civil Services
      1. Waste collection, Police, Social Services
    4. Establishment of a Port
      1. This will allow supplies to enter the island.
      2. This will allow for the island to participate with the rest of the world economically(I will expand on this later).
      3. The port will function as the entrance point and exit until the runway can be constructed.
    5. Establishment of Resident Housing
      1. This temporary housing will be until the island can be developed and more permanent buildings can be put up.
      2. Resident Housing and the Government building will be set up near the port until island development is completed
    6. Set up a massive solar powered crypto mining operation to help finance further development of the island
      1. A partnership with big mining companies can be brokered to have this set up
  3. Make the Island a desirable location
    1. Set up the island as a luxury city
      1. Free housing for citizens
      2. Free healthcare for citizens
      3. Free schooling and university for citizens
    2. Build resorts and legalize gambling on the island
      1. The revenue generated from such activities will help finance further development of the island
      2. With the revenue generated from this, the island will be able to provide for the residents a luxury city
      3. The gambling industry investments will help to finance the island as well
    3. Make the island a banking haven
      1. Set up a bank on the island
      2. No KYC laws will be enforced on the island
      3. This will attract forgien investment into the island
    4. Allow cryptocurrency companies to conduct business without oversight and for miners to set up large scale operations using solar powered energy
    5. No income tax,sales tax, capital gains tax or corporate on the island
      1. Commercial businesses such as casinos, resorts, and banks will just pay slightly inflated property taxes
      2. This will help attract a lot more forgien investment as well
      3. Will attract companies to set up offices here and thus bring jobs to the island.
  4. Expand on the island infrastructure
    1. Build an airport. The islands have enough space to accommodate runways for planes even up to jumbo jets
    2. Build more free luxury housing for residents
    3. Establish schools and universities
    4. Establish libraries
    5. Establish Museums
    6. Establish a healthcare system
  5. Enjoy the luxury haven of an Island that we have built
Now for the question of how much this island will cost and how we will get the funding
According to my calculations (you can look at them below) it will cost us $2,600,000
Now in regards to how we will raise that sum
If you have made it this far, please join the [subreddit]1 for this plan
More information to come soon, thank you.
'''
An Island Nation Composed of Redditors
Go1dfish undelete link
unreddit undelete link
Author: OGKebabEater
1: w**.reddit*com*Th**edd*tNa*ion/ 2: *ww.*eddit*com/Th*Red*itNa**o*/
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Asicpower AP9-SHA256 Review


Asicpower AP9-SHA256 Review

Bitmain is regarded as one of the most influential companies in the ASIC mining industry. It is estimated that they have manufactured approximately 53% of all mining equipment.Without including their mining profits, that’s around $140 million dollars in sales. These figures are staggering, but Bitmain’s monopoly of the Bitcoin ASIC market may come to an end, following the release of PowerAsic’s asicpower AP9-SHA256.

About the asicpower AP9-SHA256

Designed with brand new technology and boasting 94 TH/s per miner, the AP(-SHA256 is the most powerful and efficient Bitcoin miner to date.PowerAsic claims they spent $12 million dollars on research, development, and prototypes.PowerAsic also noted that their miners take advantage of ASICBOOST, an exploit of Bitcoin’s algorithm which improves mining efficiency by 20%.An unusual approach separate Powerasic’s miner to the other manufactures is the implementation of copper heat-sink claimed to have a superior thermal conductivity 69% better than aluminium. Don’t take their words for it but confirm the facts are correct on widely well known and published science documents as this one.The first batch of miners were announced and made available for order in August of 2019, with start scheduled for shipment in September, 2019.
Powerasic claims that the machines are around 40 percent more productive than the most proficient ASIC on the market, Bitmain’s Antminer S17.According to PowerAsic, they started a mining project with the aim to bring much needed competition to the market…We want to ‘make SHA256 great again.Sitting at the hefty price of $2,795.00, the powerasic AP9-SHA256 is far from affordable for the average person. Fortunately, due to the newly born rivalry between Bitmain and Powerasic, the price will probably lower with time and competition.The power supply for this unit is included and integrated in the top-box also including the controler card as a one unit. You will also get standard power cable, network cable, manual and software in the packet. In comparison to the price of the Antminer S17 , the Powerasic AP9-Sha256 is a better value.

Power Supply

The integrated PSU 3300W has a inputVoltage 220V 50Hz 30A. There are 2 fan 40mm., 1 fan 60mm to keep it cool and the power cable 3 legs following CEE 7 standard.Professional mining hardware runs optimally at 220-240V, hence why mining farms step down their own electricity supply to 220-240V. Note that 220V current is only found outside of the US – American outlets are 110V by default. Unless you want to hire an electrician, this could cause some people trouble adapt to the eficient and recomended 220V power needed, still 110V will get the job done, but they are not ideal for optimum mining performance.

Power Consumption

Thanks to the powerasic AP9-HA256’s new 7nm generation of ASIC chips, the AP9-SHA256 has become the most electrically-efficient miner on the market.Consuming merely 30.J/TB, or 2860W from the wall, the 16T is 30% more electrically-efficient than the Antminer S17.

Profitability

Powerasic ’s new ASIC technology is impressive. When compared to its closest competitor, the Antminer S17, the powerasic AP9-HA256 is the clear winner. It hashes at 94 TH/s, as opposed to the S17’s 56 TH/s. Moreover, the the AP9-HA256 consumes 30J/GH, whereas the S17 consumes 39-45J/TB.The difference in power consumption is miniscule, but when it comes to large-scale mining, the the AP9-HA256’s edge will drastically increase the profitability of a mining operation. This ASIC is profitable not only for mining on a large scale, but for the individual miner as well.Take a look at the projected mining profitability of a single miner:Note that is appears profitable even with high electricity costs ($0.1 per KW/h). With $0.05 / KW/h it’s even more profitable:📷Each powerasic AP9-HA256 will generate about $6,009 per year (calculated with 1 BTC=$10,141.5). Mining profitability may vary. You can usethis free profitability calculator to determine your projected earnings.

Is powerasic AP9-HA256 a Scam?

There is been a lot of talk on Twitter that powerasic AP9-HA256 is a scam. It appears it is not, as many users are already claiming to have received their miners.Slush, the creator ot Slush Mining Pool and the TREZOR hardware wallet, claims on Twitter that he has seen units and knows people who have had their miners delivered:

Verdict: Is The Antminer S17 Outdated?

When the first batch of Bitmain’s Antminer S17 ASICs reached the eager hands of miners, they were all the rage. The S17 was renowned as the most efficient ASIC miner on the market. Many used the S17 as the industry’s golden standard.Up until the launch of the powerasic AP9-HA256, it was the golden standard.But, now?Things have changed.Not only is the powerasic AP9-HA256 more powerful than its predecessor from Bitmain, but also more efficient, and therefore, more profitable.Ever since the announcement of the new ASIC, there was widespread speculation of its legitimacy – and rightly so.The Bitcoin community has been plagued with small, phony companies manipulating images of preexisting antminers as a ploy to hype up their fake products. Nevertheless, powerasic AP9-HA256 is taking things seriously, and their first batch of miners have lived up to expectations.The fact of the matter is, Bitmain’s most powerful and efficient antminer has been dethroned by the new reigning king of ASICs: The powerasic AP9-HA256.

Conclusion

Bitmain has dominated the ASIC market since its inception in 2013.There are a few other companies producing ASICs. However, before the creation of PowerAsics AP9-SHA256., Bitmain was the only company with a proven track record that sold efficient miners directly to the public.Powerasic AP9-HA256 has the potential to bring Bitmain’s monopoly to an end. Powerasic AP9-HA256 has a bright future ahead of them. Now that Bitmain has noteworthy competition, it will be interesting to see how it affects the market. The powerasic AP9-HA256 is the best option (for now) for anyone getting started with mining. Powerasic’s innovation should force other ASIC producers to innovate and force other companies to release new miners with better efficiency. So whether you’re buying a miner now or soon, you’re likely to benefit from the development of this new miner. For more, Visit Us: https://asicpower.net/product.php
submitted by farwa786 to u/farwa786 [link] [comments]

Are New Bitmains’ ASIC Devices Profitable?

Are New Bitmains’ ASIC Devices Profitable?
You might have heard that Bitmain has announced the next generation Antminer ASIC mining devices.These devices (S17+ and T17+) are expected to deliver higher hash rates while keeping relatively comparable energy consumption rates.
Bitmain stays true to itself and regularly releases new hardware on its Antminer line. Usually, their products are the top ones on the market in terms of hash rate, but it’s always just a matter of time until the competition catches up.

https://preview.redd.it/131m5wm3wgu31.png?width=1920&format=png&auto=webp&s=f96ef5ad457b46ec058849117432921c2da4821e
Also, there is another problem with third-parties pre-empting the devices and then reselling them at a much higher price. One can only hope that this time Bitmain manages to deliver a reasonable amount of devices.
This time, Bitmain is releasing two devices: S17+ with a hashrate of 72 TH/s that is consuming around 2,920 watts of power and an ‘economy class’ T17+ with 64 TH/s and 3,200 watts of power consumption.

What’s the Profit?

So how profitable it is to run one of these devices considering the current state of market? According to Blockonomi’s calculations, S17+ is profitable to operate, but if you’re hoping for big wins, that’s not going to happen. Assuming an electricity price of $0.10 per kilowatt and running your device for 24/7 for an entire year (no change in difficulty considered) you can expect to earn about half a bitcoin. However at the end of the day, it all comes down to electricity costs.
As for T17+, you could get about 0.45156798 BTC, at the cost of $2,8 in electricity fees.

Is it worth it?

Like everything in the crypto space, this is very hard to predict.
Once these devices hit the market, they will set the hash rate standard, which means increasing network difficulty and lowering the efficiency of the hardware.
Moreover, the bitcoin prices have been bouncing around the $7,500 to $8,000 mark for a while, and if your goal is to sell all of the bitcoin you’ve mined right away, you would probably be able just to cover the equipment and electricity cost after one year but nothing more.
If you are determined that ASIC mining is your thing, it can be a good idea to buy one of these devices but avoid purchasing it from the resellers.

The Bottom Line

No matter which equipment you decide to go with, you can use CoinFly to increase your profits.
We offer you an opportunity to mine the most profitable currency and optimize the mining profit automatically: once the situation on the market changes, the system will just switch to mining the most profitable coin, thus, you will have the possibility to tune your hardware online to achieve optimal performance.
Sign up for our beta-testing and check out the benefits of mining with CoinFly!
submitted by coinfly to CoinFly [link] [comments]

The difference between GPU and CPU mining

The difference between GPU and CPU mining


GPU Mining
  • Coins Mined with CPU: Ethereum, Monero, Bitcoin Gold, Zcash, Electroneum, and many others
GPU (or Graphics Processing Unit) is the chip on your graphics card that does repetitive calculations for processing graphics and was initially used mainly by gamers for better graphics. But once Ethereum came along people started buying them up, the price skyrocketed and now there is a certain shortage of gaming graphics cards on the market.
Ethereum Mining with GPUs
All Ethereum based coins use the Ethash algorithm for mining, an algorithm “designed to be ASIC-resistant via memory-hardness.” There might be several reasons behind this, one of them being the possibility of Ethereum switching from Proof of Work to Proof of Stake.
And since ASIC mining is off-limits for Ethereum, using a GPU is a good alternative.
CPU Mining
  • Coins Mined with CPU: Monero, Electroneum, and Bytecoin
The CPU is the Central Processing Unit of any computer. Basically, it is the brains of the computer.
When Bitcoin was first released, you could mine 100 coins a day using just your CPU, which is impossible today.
CPU design optimizes for quickly switching between different tasks. If a coin allows CPU mining, there’s less power in the hands of large mining farms because everyone who has a computer can easily start mining.
The hashing required for Proof of Work is a repetitive mathematical calculation. CPUs have fewer arithmetic logic units, circuits that perform arithmetic operations, and thus are relatively slow when it comes to performing large amounts of calculations.
The Main Difference
GPU mining is the more powerful and lucrative version of CPU mining and yields a better return on investment. GPUs offer a higher level of processing power which in some cases are up to 800 times more than that of a CPU.
#mining #blockchain #ethereum #fintech #bitcoin #MiningOS #COS#CoinFly #CoinflyCOS #GPUmining #Software
submitted by coinfly to CoinFly [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
The following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
For lots of additional video resources check out the videos wiki page or /BitcoinTV.
Key properties of bitcoin
Some excellent writing on Bitcoin's value proposition and future can be found here. Bitcoin statistics can be found here and here. Developer resources can be found here and here. Peer-reviewed research papers can be found here. The number of times Bitcoin was declared dead by the media can be found here. Scaling resources here, and of course the whitepaper that started it all.

Where can I buy bitcoins?

BuyBitcoinWorldwide.com is a very helpful site for beginners. You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also, check out the bitcoinity exchange resources for a larger list of options for purchases.
Bank Transfer Credit / Debit card Cash
Coinbase Coinbase LocalBitcoins
Gemini Bitstamp LibertyX
GDAX Bitit Mycelium LocalTrader
Bitstamp Cex.io BitQuick
Kraken CoinMama WallofCoins
Xapo BitcoinOTC
Cex.io
itBit
Bitit
Bitsquare
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Cashila or Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
Note: 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 the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

A more comprehensive list can be found at the Trade FAQ but some more commons ones are below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Steam, HumbleBundle, GreenmanGaming, and Coinplay.io For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, The Bitcoin Shop, Overstock, Rakuten, DuoSearch, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg, TigerDirect and Dell For all your electronics needs
Cashila, Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, Pey.de, LivingRoomofSatoshi, Hyphen.to, Coinsfer, GetPaidinBitcoin, Coins.co.th, More #1, #2 Bill payment
Foodler, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BoltVM, BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap For new domain name registration
Stampnik and GetUSPS Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap, 99Bitcoins and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, 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 crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. Bitseed is an easy option for getting set up. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
Bitwage, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Watchmybit, Streamium.io, OTika.tv, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip, WillPayCoin Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)

Bitcoin Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mirror Smart contracts
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bitsquare Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Bitmesh and Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium and Faradam Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
Coinometrics Institutional-level Bitcoin Data & Research
Blocktrail and BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
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:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. 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. A complete list of bitcoin related subreddits can be found here
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 approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BinaryResult to Bitcoin [link] [comments]

I made an upgraded calculator for Hashflare, with reinvestments and difficulty increase!

Final EDIT: I have deactivated the links, too many people asking to edit. I recommend to everyone: buy Bitcoin, ETH or altcoins and hold them. As for me, I'm all in on RaiBlocks -> /RaiBlocks
EDIT 1: Changed to consider an optional BTC price increase
EDIT 2: Changed to consider mining fees, thanks for the suggestions
EDIT 3: Optimize number of days using Goal Seek
EDIT 4: Fixed bug in BTC price increase ( thanks madmax_br5 ) - you will now see bigger profits in the chart as it is using the projected increased value.
EDIT 5: Added comparison with buying BTC now and selling later. 3-4x more in my case.
EDIT 6: Overhaul after WandringAnteater 's suggestions. He also gave a more in depth explanation of the inputs and outputs here
EDIT 7: Changed to reinvest from the payout and not balance; fallback to balance if payout < 0.01 TH/s equivalent. Thanks to u/erikkubica for reporting the bug.
I saw many calculators around the sub (thanks for those by the way!), but they didn't consider the increases in difficulty, making for huge profits in the end. This one considers a constant increase in difficulty, compounded (specify the amount and period of increase).
Reinvestment is also considered, you can specify the percentage and how long you wish to reinvest.
There are still many things that are unpredictable, but this at least can give us a more conservative view on potential profits (no longer 10x, but about 3x in my case - at current BTC price).
Maybe someone smarter than me can take this calculator and create automatic optimization on the reinvestment percentage and time. As of now you have to insert your values and wait about 5 seconds to re-calc.
Any criticism is appreciated!
submitted by DotcomL to hashflare [link] [comments]

My Recent Experience With Genesis Mining // Read This Before You Buy A Contract

I put $8,200 USD on a total of three Genesis Mining contracts for 50 TH/s of hash power last November, and which only went into effect a mere six months ago in February/March of this year. Now, they're in danger of becoming terminated in less than 60 days because of the low BTC price + increased hash rate difficulty. I had done a bit of research beforehand and tested out some hash rate mining scenarios that may occur at some point in the near future; even multiplying the then hash rate several times over, while keeping the BTC price relatively average (back then it was around the $8K mark and rising).
In all my benchmarks, the amount of hash power I had purchased appeared to make a profit, albeit a small one in even an increasing hash rate difficulty scenario—but never did I imagine that the contract would become unprofitable in such a short period of time. I thought I'd be able to ride it out for at least 1–2 years and either make my ROI or hold for longer to make a possible margin of profit. Plus, my payouts (when they were being generated) never reflected the numbers I had come up with using mining calculators during my research phase; instead, I was only generating half of what was depicted, which was another unexpected curve ball.
Genesis Mining had the audacity of sending out an email about two weeks ago where they stated the following:
In a couple of days, we will roll out a very special offer only for our existing Bitcoin Mining customers. You better stay tuned!
So that very special offer arrived earlier today via another email, and if was for existing customers to upgrade to the new Radiant contracts for $180 per 1 TH/s, which if you do the math would come out to $9000 for the 50 TH/s (or more than I had paid for the original contracts to begin with). They also callously stated in that same email:
As a result, some user contracts are now mining less than the daily maintenance fee requires to be covered, and thus they entered the 60 days grace period, after which open-ended contracts will get terminated.
Although I agreed to Genesis' terms prior to signing up, I never imagined this scenario unfolding in such a short time; however, for them to also add insult to injury with a deplorable marketing scheme as the one I illustrated in the email above should hopefully give you an idea of who you'll be doing business with, in case you're considering a cloud mining contract with them. My advice to anyone interested in cloud mining would be to either pay for your own equipment and mine the BTC yourself, or better yet, buy the BTC directly from an exchange, especially right now while its price is relatively low and hold onto it. I would discourage anyone from pursuing cloud mining as you'll most-likely have no legal recourse since you'll be dealing with a foreign entity that's not bound by the same laws or ethical requirements as the ones in your country.
submitted by dutch602 to GenesisMining [link] [comments]

Why is it so hard to mine for bitcoin?

Why is it so hard to mine for bitcoin?
Bitcoin mining has become more competitive than ever.
Bitcoin mining difficulty – the measure of how hard it is to earn mining rewards in the world’s largest cryptocurrency by market cap – has reached a new record high above 7.93 trillion. That’s a seven percent jump from the 7.45 trillion record set during the recent two-week adjustment cycle, which was the highest since October 2018.
Bitcoin is designed to adjust its mining difficulty every 2,016 blocks (approximately 14 days), based on the amount of computing power deployed to the network. This is done to ensure the block production interval at the next period will remain constant at around every 10 minutes. When there are fewer machines racing to solve math problems to earn the next payout of newly created bitcoin, difficulty falls; when there are more computers in the game, it rises.

https://preview.redd.it/s7grcdbkzdn31.png?width=728&format=png&auto=webp&s=4fc30767e70d67539747186fdd5a7d01511c4cbd
Data from Bitcoin Block Explorer - BTCNEWZ.com
Right now the machines are humming furiously. Bitcoin miners across the world have been performing calculations at an average 56.77 quintillion hashes per second (EH/s) over the last 14 days to compete for mining rewards on the world’s first blockchain, according to data from mining pool.
Data further indicates the average bitcoin mining hash rate in the last 24-hour and three-day periods were 59.58 EH/s and 59.70 EH/s, respectively, even higher than the average 56.77 EH/s from May 15 to June 27, or any 14-day data in the network’s history.
Similarly, data from blockchain also shows the aggregate of bitcoin computing power was around 66 EH/s as of June 22, surpassing last year’s record high of 61.86 EH/s tracked by the site, and has more than doubled since December 2018 when the hash rate dropped to as low as 31 EH/s amid bitcoin’s price fall.
Assuming all such additional computing power has come from more widely used equipment such as the AntMiner S9, which performs calculations at an average rate of 14 tera hashes per second (TH/s), that suggests more than 2 million units of mining equipment may have been switched on over the past several months. (1 EH/s equals to 1 million TH/s)

https://preview.redd.it/b681p3plzdn31.png?width=1440&format=png&auto=webp&s=49efa21d8460553aceb87b64a106170b30a4c76a
The increase in capacity is also in line with bitcoin’s price jump over the first half of 2019, which caused the price of second-hand mining equipment to double in China, and also juiced demand for new machines.
Further estimates the bitcoin mining difficulty will jump by another seven percent at the beginning of the next adjustment cycle, which would be the first time for bitcoin mining difficulty to cross the eight trillion threshold.
Delayed plugging in
Such computing interest comes at a time when mining farms in China, especially in the country’s mountainous southwest, have been gradually plugging in equipment as the rainy summer approaches.
According to a report published by blockchain research firm Coinshare, as of earlier this month, 50 percent of the global bitcoin computing power was located in China’s Sichuan province.
However, it’s important to note that this year, the arrival of the rainy season in China’s southwest has been delayed by nearly a month compared to previous years. As a result, some local mining farms were only running less than half of their total capacity in the past month.
Xun Zheng, CEO of mining farm operator Hashage based in Chengdu that owns several facilities across China’s southwestern provinces, said there had been no rain in the area for over 20 days since early May, which was “unusual.”
“In the past years, it usually starts raining continuously throughout May so [hydropower plants] normally will have enough water resources by early June,” he said.
As a result, in early June his firm was only operating at 40 percent of capacity; it can host