Blockchains and the new commodity of 'trust' - Crash Course Admit it.So for your voyeurism pleasure, I'll share with you what I'm doing for my own little 'mining' shop in my basement.I've got two pc's - each with their own AMD  gaming video cards.I've given them the unoriginal name 'rig1" and "rig2'.I have them joined to the  mining pool called "ethpool" (Ok so we don't win points for creativity with naming in crypto world).You can watch my results in real time - here: /miners/f37f75855ceb24f0cdf16d5074c14ac152a41e76 Ok, great - what are we looking at?The Account - is my ethereum wallet.That is the only information I need to give.When I run the small miner program available on their site, I just enter my account wallet number in so they know where to send my newly minted ethereum.In fact the entire command line I use is this: qtminer.exe -u 0xf37f75855ceb24f0cdf16d5074c14ac152a41e76.rig2 -G -cl-local-work 128 --cl-global-work 8096 I just created a small script with this line in it so I don't have to type it in my 'run' line in Microsoft Windows every time.

There are tricks to being a good miner for being able to add the right strings of settings including overclocking your video card and under-volting it so it doesn't get too hot or run up the electric bill.It's an art when you balance all of these factors.bitcoin crash april 2011I use MSI Afterburner software to control my voltage, fan speed and over clocking adjustments I've learned over time.bitcoin etf decision mayMy estimated hashrate: This number is my average combined hashing power of my two miners over the last 60 minutes.bitcoin mining with piFor my two video cards 50 megahashes is pretty good.litecoin owner(around 25 megahash for an AMD 290x video card is common).bitcoin wert in 10 jahren

credits: This pool awards per share of overall hashing power of the entire pool.Each miner is awarded credits to keep track of where they are at 'in line' for their turn.Normally this is about 16t when it is your turn.If the pool itself is unlucky and the competing pools win more than their fair share (it evens out eventually), you may see other miners go over the 16t cutoff, but their over-work gets credted to them for their next round.bitcoin asics usbApproximate time to next block;  This is the time estimate based on my current hashing power that it will be 'my turn' again in getting the entire award of five ethereum coins.mine litecoin on your ownBased on that - it gives estimated earnings.bitcoin regulation singaporeIn my experience, these have been underestimated by 20% or more.free bitcoin qr codes

Workers tab: Graphs to track your miners.You can see how my two miners are doing.If I have an internet outage, it will show.If my computer rebooted and didn't come back on line - you'll see that too.Rig1 always seems to be a little faster than his little brother Rig2.Blocks/Payouts tab: You can see the record of every time I was awarded the credit for the entire block reward.This is awarded on average of about 17 seconds somewhere in the world.At today's price, a block of five coins is worth around $70.I am averaging about every 4 days between right now.But... This is a competition.The money will draw in more people and AMD will run out of video cards again.Sorry, no other video card maker can compete even close to the AMD for technical reasons.Should you go buy the equipment to mine?I wouldn't recommend it.I've been doing it when profitable for a few years with various 'alt-coins' and it won't be long before the big industrial size mining farms show up and take it over.Slowly I'll see my estimated days go from four - to five, then to six ....ten  etc.  How long will it last?

Probably a few months.Since I already had the equipment, this will be more than plenty to pay the electric bill.And if the price keeps rising - I'll only sell enough to pay the bill and keep the rest as profit and the price increase might be my future swimming pool.Amazon has a good deal on AMD model 380 video cards.They will do around 20 megahashes and they cost around $160 (less if you buy with bitcoin but that's another story).I'll squeeze two per machine and see if I can get up to 90 - 100 megahash with tweaking.That should put me in about $800 per month profit at today's rate.Since I already have very powerful power supplies and pcs that can take it, I might as well.Most people won't likely have a strong enough motherboard\powersupply or tower case to fit it all.I could change this to a new wallet address at any point and you wouldn't know which...but I'll leave it here for you curious watchers to keep tabs as you learn more about this technology.Send me a message if you happen to notice one of my rigs 'sleeping' :-)

Ethereum is a decentralized smart contracts platform that is powered by a cryptocurrency called Ether.A good starting point to learn more about it’s workings would be the “” page.I have heard of Ethereum, but what are Geth, Mist, Ethminer, Mix?Geth: This is the Go implementation of an Ethereum node, and is the basis for any interactions with the Ethereum blockchain.Running this locally will allow you to easily interact with the Ethereum blockchain.Read the go-ethereum installation instructions.Mist: This is the equivalent of a web browser, but for the Ethereum platform.It acts as a GUI to display the accounts and contracts that you interact with.It also allows you to create and interact with contracts in a graphical user interface without ever touching the command line.If you are not a developer and just want to store Ether and interact with Ethereum contracts, then Mist is the program to use.Downloads can be found on the Mist releases page.Ethminer: A standalone miner.This can be used to mine or benchmark a mining set-up.

It is compatible with eth, geth, and pyethereum.Check out the :ref: page for more information.Mix: The integrated development environment for DApp authoring.Quickly prototype and debug decentralised applications on the Ethereum platform.More information can be found at the Mix GitHub Page.How can I store big files on the blockchain?In general you do not want to store large files or pieces of data in the Ethereum blockchain because of the high cost of storage.You will need to use a third party storage solution, such as Swarm or IPFS.Swarm is an Ethereum-specific project for distributed file storage.IPFS is an non-Ethereum project which has close ties to Ethereum; it will be used independently and may be used as an added layer underlying Swarm in the future.See this Ethereum StackExchange post on the topic for more information.Is Ethereum based on Bitcoin?Only in the sense that it uses a blockchain, which Bitcoin pioneered.Ethereum has a separate blockchain that has several significant technical differences from Bitcoin’s blockchain.

See this Ethereum StackExchange answer for a detailed explanation.What’s the future of Ethereum?Ethereum developers are planning a switch from a Proof-of-Work consensus model to a Proof-of-Stake consensus model in the future.They are also investigating scalability solutions and how to store secrets on the blockchain.What’s the difference between account and “wallet contract”?An account is your public / private key pair file that serves as your identity on the blockchain.See “account” in the glossary.A “wallet contract” is an Ethereum contract that secures your ether and identity with features such as multisignature signing and programmed deposit/withdrawal limits.A wallet contract can be easily created in the Mist Ethereum Wallet GUI client.Are keyfiles only accessible from the computer you downloaded the client on?No, you are welcome to export or move the keyfile, but always remember to backup your keyfiles and be aware of which computers you store your keyfile on.How long should it take to download the blockchain?

The Ethereum blockchain is constantly growing, and is nearing 10GB as of March 2016.The amount of time it will take to download depends on the amount of peers you are able to connect to, your internet connection speed, and other factors.See the :ref: section for tips on syncing the blockchain more quickly.How do I get a list of transactions into/out of an address?You would have to pull the transactions manually out of the blockchain to achieve this.Alternatively, you can rely on third party explorers’ API’s like Etherchain.For contract execution transactions however, you can filter the contract logs to achieve this.Can a contract pay for its execution?No this is not possible.The gas for the execution must be provided by the address submitting the execution request.Can a contract call another contract?Yes, this is possible, read about interactions between contracts.Can a transaction be signed offline and then submitted on another online device?Yes, you can refer to the solution from Icebox.

How to get testnet Ether?Can Ethereum contracts pull data using third-party APIs?No, Ethereum contracts cannot pull data from external information sources in this way.It is however possible to push data from external sites (e.g.weather sites, stock prices) to Ethereum contracts through transactions.There are “oracle” services that are compatible with the Ethereum network that will pull/push data to the Ethereum network for a fee.Is the content of the data and contracts sent over the Ethereum network encrypted?Data and contracts on the Ethereum network are encoded, but not encrypted.Everyone can audit the behavior of the contracts and the data sent to them.However, you are always free to encrypt data locally before broadcasting it to the network.Can I store secrets or passwords on the Ethereum network?All data on Ethereum is public.It is not possible to store secrets or passwords in Ethereum contracts without it being seen by all.There is work being done to make this a possibility through code obfuscation and other techniques.

A good read would be this article by Vitalik Buterin.How will Ethereum combat centralisation of mining pools?There are two primary ways that the Ethereum PoW based consensus algorithm combats mining centralisation (Source).The first is by reducing losses due to orphaned blocks, which independent miners are more likely to experience.This portion of the Ethereum mining algorithm, a technique referred to as GHOST, includes the headers only of recently orphaned blocks in return for a reduced reward to both the block producer and the includer of the (otherwise orphaned) block.These included orphans from “grandparent” or earlier blocks are frequently referred to as “uncle” blocks because the gender neutral term “ommer” isn’t widely known or understood.The second way that the Ethereum PoW consensus algorithm combats mining centralisation is by its use of a Proof of Work function that is ASIC resistant.By preventing mining from becoming dominated by specially designed and produced hardware, independent miners are kept competitive or even given an advantage in terms of their profits and/or levels of hardware investment, because they can make use of readily available commodity hardware (i.e.