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Should we be worried about that mining pools account for 95% of Bitcoin's computation power?

submitted by rockabby to Bitcoin [link] [comments]

Bitcoin computation speed growth slowly trending towards zero.

Bitcoin computation speed growth slowly trending towards zero. submitted by rmvaandr to Bitcoin [link] [comments]

Dr. Clemens Ley reveals "the Bitcoin Computer"... Conditional Smart Contracts on BTC Blockchain!

Dr. Clemens Ley reveals submitted by ElectroneumUniverse to btc [link] [comments]

The first Homebrew Bitcoin Computing Meetup, featuring Moneybutton, sCrypt, and Planaria.

The first Homebrew Bitcoin Computing Meetup, featuring Moneybutton, sCrypt, and Planaria. submitted by thacypha to bitcoincashSV [link] [comments]

Bitcoins Computing Power Is Growing Again After Coronavirus-Related Disruption (current BTC/USD price is $8,821.31)

Latest Bitcoin News:
Bitcoins Computing Power Is Growing Again After Coronavirus-Related Disruption
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.
submitted by coinsaladcom to CoinSalad [link] [comments]

Homebrew Bitcoin Computing Club

Homebrew Bitcoin Computing Club submitted by thacypha to bitcoinsv [link] [comments]

Take Back Your Data: Twetch / The Bitcoin Computer

Take Back Your Data: Twetch / The Bitcoin Computer submitted by thacypha to bitcoincashSV [link] [comments]

Take Back Your Data: Twetch / The Bitcoin Computer

Take Back Your Data: Twetch / The Bitcoin Computer submitted by thacypha to bitcoinsv [link] [comments]

Bitcoin Database & Bitcoin Computer on BCH?

Hi, I’m looking for tools on BCH to build out infrastructure and services similar to what’s being developed on other chains.
Are there tools like BitDB, Planaria, Bitcoin Computer, Content Addressable file system etc. available on BCH?
Also is there a native browser for Bitcoin Cash that browses the blockchain like Bottle? Or anything like it?
submitted by Jo_Bones to btc [link] [comments]

21.co website has just been updated: "Introducing the first bitcoin computer"

21.co website has just been updated: submitted by btcbible to Bitcoin [link] [comments]

Opinions on the 21 Bitcoin Computer

I saw this product for 150 on Amazon and their selling it for 40 on Ebay, is it worth it or too complicated?
submitted by revman97 to cryptomining [link] [comments]

Every computer is the Bitcoin computer

Bitcoin doesn't require any special hardware, as it can be used on any device which can do computations. To make a Bitcoin transaction you need to create a ECDSA signature, which is just math, something which all computers do well. You can do it both on resource-constrained like smart cards (think SIM cards) and on large servers alike.
The idea that you need a special Bitcoin computer to use Bitcoin is outright harmful, as it limits your choices and dupes you into buying overpriced proprietary hardware which gives the vendor more control of what you can and cannot do. This is very much against the spirit of Bitcoin which can thrive only as an open system.
So yeah, that thing 21 inc is trying to sell makes no sense, whatsoever.
But a lot of people think that "there might be something in it", let me go through the theories of why this device makes sense:
  1. "It is a dev kit!". Let me guess, you aren't a programmer. Or if you're a programmer, you're a shitty programmer and should be ashamed of yourself. You do not need any dev kit for Bitcoin, all you need is open source software (and, maybe, some internet services, optionally). When I wanted to try to do something Bitcoin related back in 2011, all I needed was to download bitcoind and install it on my $10/month VPS. Then I looked through RPC API call list and made a Bitcoin-settled futures exchange. The whole thing took me only a week. I didn't need to pay $400 for a devkit. Learning how to work with bitcoind took less than a day. There are hundreds of Bitcoin companies and thousands of hobbyist working on Bitcoin projects, none of them needed any sort of a dev kit.
  2. "It is useful because it has APIs and pre-installed software!" No, see above. If needed, pre-installed software can be delivered in a form of a virtual machine (e.g. VirtualBox, VMware, etc), no need for a physical device.
  3. "It is useful because it comes with a micropayment service/API". Nope. These things can be done in software, no need for custom hardware. Obviously, a micropayment system can be more widely adopted when it is open. If it is tied to custom hardware (which I doubt) then you have a vendor lock-in which is exactly the thing we're trying to avoid with Bitcoin.
  4. "it comes with pre-installed marketplace". So what, we have marketplaces such as OpenBazaar. If there are useful features in the 21 inc's marketplace we can replicated them in open source software.
  5. "It's convenient for users!" Are you saying that a $400 device which you need to be connected to a laptop is more convenient than a service which can run in a browser?
  6. "It might offer better security". We already have devices such as Trezor which can protect bitcoins from unsecure operating system. Trezor costs much less than $400 and is actually useful. Even though it was done by a small company without much capital.
  7. "It can be used for applications like a reputation system, etc." When telecom companies wanted an ability to differentiate between users, they created smartcard-based SIM cards. This technology is many decades old. Using Bitcoin for a reputation system is a bad idea, as it is not designed for that. If device holds 1000 satoshi to give it an identity weight, a guy who has 1 bitcoin can impersonate 10000 such devices. It just not going to work.
  8. "A constant stream of bitcoins it mines is convenient for users." User has to pay for this device, he might as well just buy bitcoins. If it is necessary for bitcoins to be attached to hardware, this can be done using a tiny dongle which costs less than $1 to manufacture, or a smart card.
  9. "But this device got backed by VCs and large companies, there must be something to it, we are just too stupid to comprehend its greatness". Well...
There is, indeed, a very simple explanation of this device's existnce: Balaji's reality distortion field. He is a prominent VC, so it was relatively easy to convince others that it's a worthy idea. The big vision behind it -- the financial network of devices -- is actually great. And then there is a question of execution. A guy like Balaji is supposed to be an expert in assessing feasibility of execution. So, as we can guess, investors trusted him. As many VCs tell, they invest in people. They cannot examine nitty-gritty technical details, but just look at skills, track record, etc.
So the fact that it got large investments and generates a lot of hype doesn't mean much, there was a plenty of such companies during dotcom boom.
It's quite like :CueCat. As we now know, an ability to scan a printed code and open a web page which it points to is very useful, a lot of people use QR codes, they are ubiquitous. This was exactly the vision behind CueCat. But it was implemented as a dedicated hardware device, not as a smartphone app, as there were no smartphones at that time. So after a lot of hype and aggressive marketing the company failed, but just few years later their vision became realized in QR reader apps.
Hardware becomes increasingly irrelevant. As Mark Andreessen, Balaji's partner, [once said], software is eating the world. Solving problems which can be solved software using custom hardware is just silly.
Balaji talks about internet-of-things applications where devices mine bitcoins and use them to buy services they need to function. Well, in the end, user pays for that, as he pays for physical chips and electricity. It would be more efficient for him to pay directly than to use this mining-based scheme. And it's possible to do so using software. E.g. imagine you have a lot of smart devices which use external services in your home. It would be nice if you can just aggregate the bill and pay it off automatically, say $2/month. Why only $2? Well, if there is a device consuming $20/month, it needs some serious mining abilities, so it will cost much more than $20 in electricity bills...
Maybe 21 inc will eventually pivot into purely software solutions, they have a lot of money to play with. But the current generation of devices they make just makes no sense, whatsoever, and people who try to find something useful in them just waste their time.
EDIT: One plausible case for using custom hardware is a possibility of off-chain microtransactions using trusted hardware. Not unlike MintChip conceptually. But size of the device as well as its price is puzzling in this case, as this can be implemented (and was already implemented) in smart card form factor.
submitted by killerstorm to Bitcoin [link] [comments]

Cardano's IOHK Plutus eBook; Record Bitcoin Computing Power; $17000 Bitcoin; Litecoin Reward Halved

Cardano's IOHK Plutus eBook; Record Bitcoin Computing Power; $17000 Bitcoin; Litecoin Reward Halved submitted by cryptoviser to Crypto_Currency_News [link] [comments]

Cardano's IOHK Plutus eBook; Record Bitcoin Computing Power; $17000 Bitcoin; Litecoin Reward Halved

submitted by cryptoallbot to cryptoall [link] [comments]

The 21 Bitcoin Computer is #1 seller in Amazon's "Servers" section

33 in Amazon's "Hot New Releases in Computers & Accessories" - http://www.amazon.com/gp/new-releases/electronics/541966/#2

EDIT: Rank #33 now, not #35 EDIT2: Moving up, rank #31
submitted by alistairmilne to Bitcoin [link] [comments]

if you think the 21inc bitcoin computer is a waste of money because of ROI, i believe you're missing the point

i keep seeing posts about people being upset because they can't understand why someone would pay $400 for a raspberry pi with a mining shield, a big ass heatsink, and a fan. this isn't marketed as a bitcoin mining device. it's being marketed as a device (a dev kit for future devices, at this point) that is designed to integrate with bitcoin in many ways. mining is one (and definitely not the only one) of the ways it does that. and it's not mining to just be mining.
i'm not super familiar with the ins and outs of this newfangled device, but it seems to me like the satoshis are for other uses, like smart contract kinds of uses. the things are definitely not mining for profit.
i don't get everyone's obsession with ROI. would you be considering the ROI if you were investing in any other computer? obviously a computer is an investment, but the value you get out of it is from its utility. you can do all kinds of crazy cool shit with a computer. things you never imagined you could do before. i recently got a raspberry pi, and the uses seem endless. i never thought i would be learning about linux, coding, web design, electronics, robotics, music, web servers, home servers, proxys, radio, graphic design, and home automation, all because of the same little device! i don't see anything keeping this 21inc device from being a great tool for bitcoin innovation on many levels. and it seems they're just getting started.
it also seems to me like 21inc will eventually have a very decentralized mining pool. plus, the existence of another mining pool adds decentralization to bitcoin mining in general. right?
perhaps someone who is more knowledgeable could elaborate or cmv?
tl;dr the 21 inc computer is not a mining rig. it's a computer. it does stuff. some people find value in that.
submitted by ringlocksmith to Bitcoin [link] [comments]

Bitcoin's Computing Power Growth Is Outpacing The Bitcoin Price

Bitcoin's Computing Power Growth Is Outpacing The Bitcoin Price submitted by fallenkeith1990 to Bitcoin [link] [comments]

21 Bitcoin Computer Pre-Orders Sold Out on Amazon

21 Bitcoin Computer Pre-Orders Sold Out on Amazon submitted by ztnark to Bitcoin [link] [comments]

21 Inc's Bitcoin Computer is for sale at Amazon

21 Inc's Bitcoin Computer is for sale at Amazon submitted by dyzo-blue to Buttcoin [link] [comments]

Check out the 21 Bitcoin computer. It's gaining engineering traction.

What brought me to bitcoin was folks writing complex code and building interesting things with programmable money that was simply impossible before.
I just got my 21 computer in the mail and for all its failings as a terrible miner and expensive hardware, it's biggest win is worth the cost: Watching, learning and sharing code and ideas with bitcoin engineers. Writing apps on the 21 platform is fun and rewarding.
If you've dismissed the 21 machine, I recommend spending the $400, getting one . Join the engineering community experimenting and exploring what bitcoin can do.
NOTE: I'm neither employed/paid/endorsed by 21. I just stumbled into their community and liked the code created.
submitted by taariqlewis to Bitcoin [link] [comments]

[TUTORIAL] Turn your $35 Raspberry Pi into a 21 Bitcoin Computer! (original post deleted)

I noticed that ButtcoinEE deleted his own tutorial from here, and I liked the information provided, so I'm reposting it for others who may not have it saved.
I haven't tested his tutorial on my own RPI yet, but if anyone wants to give it a go, I can update this as needed.
Below is the post directly quoted from OP:
You get your brand new RPI and
curl https://install.21.co/bitcoin-computeinstall.sh | sudo bash 
Congratulations, you just saved $365. That's all there is to it.
Just want the python library and not the other stuff?
wget https://apt.21.co/pool/t/tw/two1_1.0.0-1_all.deb dkpg -i two1_1.0.0-1_all.deb 
This will work on any computer, or if you want you can extract it and just use the python library without installing.
Not an honest option, not everything works and I would be essentially forking. This is not an honest comparison, but it's closer!
Forking?
You're posting directory dumps and talking about how easy it is to create your own 21 computer, yet don't know what a fork is? You just lost all credibility.
What is forking?
The software would need to be forked to work on whatever miner you attach to RPi. It's not plug and play bro and the nice folks at 21 Inc won't support your kludge.
From their code:
SupportedMiners = collections.OrderedDict([ ("rpi2miner", minerhal.RPi2Miner), ("cpuminer", minerhal.CpuMiner), ]) 
It's supported operation in the code supplied by the company.
That is not honest given that you cannot reproduce everything that the 21 Bitcoin Computer can do right now. You don't have the integrated framework. You would be doing something very different and that is not an honest comparison.
The script linked is literally what sets up the 21 Bitcoin Computer, it's identical in software in every way.
submitted by ecafyelims to Bitcoin [link] [comments]

OpenBazaar: "Yes @openbazaar runs like butter on the new @21dotco Bitcoin Computer."

OpenBazaar: submitted by eragmus to Bitcoin [link] [comments]

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