Abstract Bitcoin And Altcoin Mining Blockchain Farm ...

11-04 14:33 - 'DIFFERENCE BETWEEN KRATSCOIN AND BITCOIN' (self.Bitcoin) by /u/xia112 removed from /r/Bitcoin within 3-13min

• The indivisible minimum KRATSCOIN unit is 0.00001 instead of 0.00000001 to denominate realistic currency rates in FOREX. Denomination cannot be determined or dictated by the value of a currency. If KRATSCOIN is valued at USD10,000.00 then the smallest unit of KRATSCOIN at 0.00001 = USD0.10 and nothing smaller than USD0.10 in KRATSCOIN.
Example: If USD1.00 = THB30.00 and the smallest denomination of USD is USD0.10, then a USD0.10 which is THB3.00, is unable to buy a piece of candy at THB1.00. Thus the USD must be converted into a smaller currency of THB in order to buy the THB1.00 candy.
• KRATSCOIN is in-line with standard International Foreign Currency Exchange Practice at indivisible minimum unit 0.00001.
• Each KRATSCOIN is equipped with a 13 digit “SERIAL CODES AND NUMBERS” and there will be a total of 2,100,000,000,000 SERIAL CODES in total.
Example1: 1st KRATSCOIN = AKDJFYRS.00000 Example2: 1st Fraction from 1st KRATSCOIN = AKDJFYRS.00001 Example3: 2nd Fraction from 2nd KRATSCOIN = AKDJFYRS.00002 Example4: Last KRATSCOIN = DLXVZKWR.00000 Example5: 1st Fraction from Last KRATSCOIN = DLXVZKWR.00001 Example6: 2nd Fraction from Last KRATSCOIN = DLXVZKWR.00002
• In Year 2015, Silk Road in DeepWeb utilization of Bitcoin in their transactions amounts to USD1.2billion spanning over 950,000 users. One may argue that Bitcoin is most utilized by the black market, which then maintains its value and worth among other factors. However, the USD1.2bil a year over 950,000 users are far fetch from the Legitimate Users in comparison. Bitcoin transactions runs into USD40.0bil in recent Legitimate Crypto Exchanges. In summary, legitimate transaction of crypto currencies is many times larger use in illegal transactions.
• Fiat Currency is backed by Governments/Countries itself. What determines the value of a currency is the economic health, demand, growth, political stability to name a few, of the respective country. Before 1930, most fiat currencies were backed by gold and silver.
• Since 1971, U.S. citizens have been able to utilize Federal Reserve Notes as the only form of money that for the first time had no currency with any gold or silver backing. This is where you get the saying that U.S. dollars are backed by the “full faith and credit” of the U.S. Government - quoted in google.com.
• What backs crypto value is purely supply and demand. The demand creation of a crypto is its sole objective. To create demand, the crypto has to have a purpose. And most purpose commonly promoted is utility. The number of ways you can utilize the said crypto. The more utilization factors the more demand there is for it.
• There are other ways to substantiate value of a crypto and that is to back the crypto with a 1 to 1 ratio in assets or in USD. Then the question is, how 3,000 crypto currencies in circulation be monetary eco sustainable? Can anyone imagine walking into McDonald and view a chart of 3,000 different pricing? Which also means the crypto is a payment gateway pegging against USD instead of bearing any true characteristic of a currency.
• A country’s currency is in its own legit form of legal tender, the only currency acceptable under financial sovereigns of a country. People in the world must be made to understand that. Retailers in Thailand cannot put up products price tags in EUROS/USD, it is illegal. It has to be in Thai Baht.
• It is hardly imaginable for everyone in the world to retail with a Crypto-Currencies at a rate of 7 transactions per second. When mining nodes are reduced due to non-performing mining ratio, mining blocks in the Blockchain will significantly be limited too, rendering delays in transactions while usage increases.
• In time to come, as trends of crypto picks up, Thailand can issue BAHT COIN or UK the STERLING COIN, exactly what China wishes to do. Digital RMB, but would such crypto currencies be fully decentralized? We all have our answers. Absurd to even think of producing Thai Baht, Pound Sterling or Chinese Yuan at the cost of electricity. It is currencies in digital forms.
KRATSCOIN is not meant for that purpose. In some opinion, apart from utilization, a crypto can be for safekeeping, an entity for keeping money while allowing easy liquidation, at a click of a mobile button, not to mention sending or transferring without the trouble of going to banks, which was the original purpose of Bitcoin to begin with. Therefore, KRATSCOIN would be better termed as Crypto Commodity, sharing similarities as Metal Commodities.
An individual cannot use gold to make a purchase, neither can one eat gold. It can only be kept or invest in for appreciative value over time. Gold is being exampled for its scarcity which reasons for its higher value over its cousin, silver or bronze. Who or what determines the value of gold? Just like any other crypto, demand by humanity. As in all other commodities, it must also be placed in checks by governments. To put in checks, serial numbers are introduced to protect a country’s commodities outflows or illegal exports.
Humanity made Bitcoin a reality. Acceptance by the majority members of the public made Bitcoin to what is it today with the trust they entrusted it with, or is the majority public hopping on the band wagon to make a few quick extra bucks? Whatever the reasons are, the characteristics of Crypto Currencies are only matched by the behavior of Commodities.
SERIALIZED COINS - WHAT IT MEANS FOR THE PUBLIC: Every currency has its own remarkable name, design and colors. Dollars, Euros, Pound, Tugrik, Peso, Rupee, Rupiah, Dina, Ringgit, Baht and the list carries on. One thing every currency have in common - Serial Numbers.
In any crime, investigators will firstly establish motives and mode of operation, both of which are very likely related to money. So following the money trial is a natural thing to do for investigators/authorities and it has become a common practice. Crimes require funding ie robbers need money to buy guns to carry out its robbing activities. Cutting off financing will reduce criminal activities. That’s the approach governments of the WORLD have adopted for crime fighting.
Perhaps people do not realize this while most do not feel the pinch. Humanity tends to take life for granted until apocalypse happens. Take a minute to visualize the tallest tower in your homeland collapse into a pile of dust with thousands of casualties effecting everything else that comes to mind. Imagine a family member, just 1 is enough, is among those casualties.
• Imagine if monetary system is not in place and drug dealers, among many, roam the earth freely distributing what can be death threatening substance to your kids. What if you are mugged of your inheritance [items left to you by your father] that is beyond retrieval? As for crypto enthusiast, what if your wallet gets hacked as even the mighty Pentagon gets hacked. All the above can go away if the crypto system leaves a trail for hound dogs to sniff out. Money Trail or Serial Codes Trail to be exact.
• Citizens rely on governments and their countries to do what is best for them to lead their daily lives, flourish, advance, improve and strive but at the same time, citizens want to take away the single most important thing deemed crucial in the hierarchy of humanity from governments with additional boastful remarks such as “I transferred $400 million from one corner of the earth to another corner in a single transaction and no governments can do anything about it”.
• In-short, to boast unregulated financial movement is to arrogantly promote crime without realizing it while challenging the world’s monetary authority. Oldest advice in the book teaches us never to pick a fight we can’t win.
• Serial Coded Coins does not take away the financial movement freedom nor does it take away your privacy. It merely provides Authorities the necessary means needed for crime prevention and fighting. It only re-inforce security and safety. SERIALIZED COINS - WHAT IT MEANS FOR GOVERNMENTS: • Governments are relentlessly trying to find new ways to keep track of crypto transactions. Crypto Currency Exchanges, just like all other Financial Institutions and Banks, are required to practice the most stringent Know Your Customer (widely known as KYC) process. The KYC is designed to provide governing agencies and authorities with information pertaining to crypto ownerships.
• But no governments can have information on Peer-to-Peer (also known as P2P) transactions unless the government in question launch a full scale Federal Investigation on certain suspected individuals seeking Wallet Developers to unveil the ownership of certain wallet addresses. Do not forget, National and Global Security trumps Privacy Act. Refusal to co-operate under the pretext of Global or National Security will only result in an out-right ban, which is exactly what happened to Blackberry.
• Questions to Governments – What if Wallet Developers or Crypto Exchanges shuts down which can happen for various reasons be it foul-play, sinister or forcefully under threat? What if servers are damaged and ruined? An EMP strike or a simple magnet can make it happen. Information/identities of suspected customers of such addresses shall be lost forever and along with it the Money Trial.
• The most probable way of evading Authorities with crypto assets are developing an e-wallet for own illicit purpose. Since the cost of developing an e-wallet is relatively low in considerable cost to hiding, what can governments do to flush out these ants from the vast networks of tunnels?
• With Serialized Coded Crypto Assets, it doesn’t matter if servers of Exchanges or Wallets are destroyed. The Serial Codes of each token/coin enables governments of every participating country to track both origin and destination by identifying records of each token/coin in wallet address. It can disappear into a cold wallet but emerging some place later yet Authorities can still detail which particular token/coin has at one moment of time been into which wallet, on what day and date.
• If the battle of financial crimes can be resolved with a simple Serialize Coded Crypto Asset, the eradication of corruptions, money laundering, unlawful proceeds and terrorism financing will be made possible. Criminals can no longer exploit the genius creation of Sathoshi – Blockchain and Crypto-Currencies.
• Global Security, Anti-Terrorism Financing and Money Laundering could just be excuses granting government agencies the need to have access to financial information in the Monetary System. Nonetheless, it is in the interest of every nation that capital outflow is controlled. Capital Outflow is most frequent when the economy of a country is deteriorating. In the face of an economy meltdown, monetary flow is most needed and yet citizens tend to transfer monies further away illegally from their own country in an act of selfishness. This would not be tolerated by any country. Serial Coded Coin shall prove this attempt futile.
• In most part of Asian Countries, many crypto-currency mining operations are carried out illegally. The legality sits on thin fine line where Authorities can pin only stealing of electricity as a major concern to the respective country. Since most Power Companies belongs to the Country in one way or another, it is financially damaging to Power Producers and Utility Suppliers. Serial Codes can determine if the KRATSCOIN is mined legally or illegally making it difficult for miners or mining farms to mine crypto while avoiding making electricity payments. Will this deterrent disrupt the chain of KRATSCOIN supply? That’s not how Blockchain Tech works. TAXATIONS - WHAT IT MEANS FOR PUBLIC AND GOVERNMENTS: • Taxation cannot be imposed on “Illegal & Unlawful Proceeds” instead confiscation is enforced in many countries. Origins or proceeds of Serialized Coded Crypto Assets can be easily identified by the Serial Codes in-conjunction with the Blockchain. This exercise can evidently proof the legitimacy of the aforesaid token/coin. By “Illegal & Unlawful Proceeds” also refers to crypto coins obtained via illegal mining operations.
• Taxation on Crypto Assets are calculated on profits deriving from the sale/disposal of the crypto Assets. If we are small crypto believers, the amount of taxation rendered by Inland Revenue will be insignificant. Why risk Freedom of Life over Freedom of Small Monies. If we are big crypto believers, taxation on Serialized Coded Coins can be considered added security to your assets protection.
• By adopting Serialized Crypto Assets, declaration is made easily possible via proof of token/coin origin via the Blockchain. If the Authorities can know where our crypto assets come from, the Authorities will know where it will disappear to. It is taxation cum insurance in one tiny sum. This added security with freedom feature will encourage self-declarations of crypto assets to Authorities and Agencies. PRIVACY & ANONIMITY: • Many may be skeptical of their wealth being tracked and monitored. But in this era of technological advance society, everything we touches has our signature. Banks, iPhones, Samsung Mobiles, Google, Facebook, Whatsapp, WeChat, LINE, Viber, Facebook, Properties, Utilities. Almost everything. It is to this fact that there is a need for Privacy Protection Act.
• As explained before, Crypto Currency Exchange KYC procedures is designed to expose the identity of Crypto Assets ownership. The Blockchain is supposed to serve as a transparent information platform. The question of privacy over Serialized Coded Coins does not exist, it does not make Serialized Coded Coins ownership any less private.
• Ownership of wallet addresses shall always remain anonymous while the only way Authorities can get to it is through Wallet Developers by virtue of Global/National Security Threats or by a Court Order as per the Privacy Protection Act. SAFETY & SECURITY (CODED CRYPTO VS FIAT + COMMODITIES): • No human mind can memorize the millions of serial numbers printed on fiat currencies. The records of Serialized Coded Coins will forever be in the Blockchain embedded within each transaction from wallet to wallet.
• Serialized Commodities such as gold can be melted down. Diamonds recrafted. Fiat double printed. But not Serialized Coded Crypto Assets.
• Should an accessory system be added into the KRATSCOIN Blockchain, allowing reports on criminal activity be made within the Blockchain, notifying all ledgers of certain stolen Serial Coded Coins, enabling WARNINGS and forbidding next transaction of that particular Serial Coded Coin, wouldn’t this function enhance protection. A theft deterrent function which can never be achieved with physical gold, diamonds or fiat. KRATSCOIN SUMMARY: • Most crypto currencies have not reach a level of security alert for governments. This could be the only reason why a possible ban has not been discussed. China and India has begun efforts to control or ban crypto currencies in their quest to combat capital outflow, writer’s personal opinion. The EU has stopped Libra from implementation. “A company cannot be allowed Authoring Power for issuance of currencies” quoted the governments. KRATSCOIN is fully decentralized with no ownership nor control by any country, company or individual. Once again, the beauty of Bitcoin decentralization concept prevails.
• “There is no such thing as a world currency. However, since World War II, the dominant or reserve currency of the world has been the U.S. dollar” quoted in google.com.
• Most countries have “Foreign Reserves” as backing to a country’s fiat currency. It is a mean of “back up” attempt should all factors above mentioned leading to the value of their currencies collapse. Then what will happen if the Country of the Foreign Reserves collapse?
• Serial Coded KRATSCOIN belongs to no one, no country, no company and therefore theoretically shall not be effected by politics, war or global economy meltdown yet everyone, every country and every government is able to benefit from KRATSCOIN.
"Quoted by" [[link]6 [[link]7 [[link]8 [[link]9 [[link]10
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Author: xia112
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Fundamental Things That Will Support Dogecoin

Guys, I know we are all happy and uppity with all of these things going on, but I just want to let you know that this is only the beginning of a long journey to the moon that we're wishing for. Having spent some time and learning about digital currencies in general, I am saying this out of love for what we have here in this sub. New pups, heed this well as you will now be a part of something important. A few months ago, we were considered a joke coin. A joke. Now, I prefer that we are not too serious but we demand to be taken seriously. So if you're craving for what you can do to help even if you're new or just want to kick things up a notch...
Here is a serious list of the things you can do to support the rise of Dogecoin.
1.) If you are mining with a GPU, consider trading your equipment for an ASIC. These things are energy efficient and make you profitable in the long run, if not at least save you in electricity. I initially resisted the idea before, but I was ill-informed. I played into the fear that some unknown kook will make a farm out of these. But any equipment will make farms. CPUs have botnets, so the same phenomenon will happen regardless of mining equipment. What we really like to see though, is that mining would become decentralized. If we attain a large hashrate ACROSS a large network, not limited to multipools, then we can be safe and not worry as much.
For those who don't understand clearly, the hashrate is the strength of the Dogecoin network. The larger it is, the harder it is for us to be attacked by rogue computers causing the whole Dogecoin network to fail. This has happened with obscure coins with very low hashrates, with their networks taken over and rendered their wallets near-useless. Bitcoin has 50 Petahashes, while we are barely 50 Gigahashes, roughly 5 times less than what Litecoin currently has. There are haters. There are entities interested in tearing this whole thing apart. This is the stuff Dogecoin Defense Force is trying to prevent from happening. It doesn't have to go there, but we need to step up.
2.) Buy $5 dollar's worth of Dogecoin if not more and "hold" it - Buy it because it takes it off the exchanges. Multipools dump millions of Dogecoin so they can get their hands on Bitcoin so they can get their hands on fiat. There's a reason they called it an "exchange". They kind of miss the point, so we should act instead. The only exchange that should be happening is one between of money and goods changing hands, regardless of borders and with minimal transaction fees. We've spent money on a lot of dumb things, and those things never even had a chance of increasing in value. Even a dollar will help.
3.) Advance merchant integration / adoption - The skinny is that businesses are scared of Dogecoin not due to the negative press, but among other things. Why take something that's valued differently the next day? Google the Zimbabwe Dollar and imagine being in the shoes of these merchants. How many hours would they need to train some disinterested dude about the complexities of transacting across wallets. In short, it's TOO HARD for them. Not only it's too hard currently, it's not paying the bills. We need to make it effortless for merchants to adopt, and I'm saddened that this aspect is not taken all so seriously.
4.) Vote. Participate.
Think of this sub as a fairground where so many good things are happening. We are a community, no one needs permission to get stuff done; get up, go and run away with the ideas around here. Form groups, talk, and tip, but the best of all, execute. If anything, help a Shibe out, especially if they're new. Speak up, we'd love to help you; your understanding and success is the community's success. I have heard people who have been lifted out of their depression just by joining this sub. It's that spirit that's unique to us that needs to be on every true Shibe. Kindle those sparks; be the Prometheus and share that fire, now matter what the odds.

This will be a contentious idea but I will say it anyway: Price does matter. 1 Doge is 1 Doge, but we can help more people if Dogecoin is worth a little more than what it is now. Imagine tipping 100 Doge at one cent per doge means you gave a real dollar to a cause. See the impact that we can have if money, even if it used to be a joke, is something of worth, though little. Now, some of you will say that a real moon price would make all those "greedy schmucks who join multipools" hoard Doge where it will never see the light of day. This is FUD. That doesn't have to be the unfortunate reality of the world we live in. If you are true to the spirit of charity, love and kindness, and if Dogecoin is a force for good, we'd all want it to be a strong force.
Please do not believe you can slack because the responsibility is diffused among 81000 shibes. Neither am I saying stop the amazing absurdity of the things that we do. That spontaneity draws a lot of us in in the first place. You have no idea how efforts unnoticed, no matter how small, add up and reach a tipping point. Let us also not be complacent and put the blame on our coin's youth. We put a great message out there with the Dogcar, and it's high time that we follow through.
We are one big party, but it takes work from all of us to keep it coming. Keep the passion going, and it'll take work; but I know we will be rewarded.
Thank you for reading this. I know this will get buried considering it's a wall of text, but I'll say what I think needs saying.
tl;dr - If you love Dogecoin, you will read and consider some of things I said above.
To the moon!
submitted by Internobang to dogecoin [link] [comments]

I think the crash is a good thing. sort of, let me explain.

With all the "recent" big bucks buying all kinds of hardware and starting up HUGE GOD DAMN farms in china and elsewhere...simple market dynamics come into play here.
See these people have huge fixed costs, and huge electricity bills. they rent buildings (pay fiat), they buy electricity (pay fiat) and hire workers (btc and fiat). Lastly, their profits are taken out in fiat also because you can't buy real estate, hookers and gambling on btc (im looking at you ,china)
In my opinion, most btc they mine is sold for fiat fast, and thus supply completly overwhelms the buyers (as their relative importance has grown). Btc price will go down to their cost + electricity price and LOWER as they hold on to their delusional investments. Note they pay 15cents to 40cents a kw/h in most of these big farms apparently.
Now. No panic. Let them drive eachother out of business, and have innovation render all their hardware obsolete. they are leeches, and have nothing to contribute to the system, other than a BIG SUCKING SOUND. This won't take long.
So don't worry, but i think price is going lower until they close up shop. I on the other hand, who lives in a cold place (at least in winter), has a quite frankly, smart system that i'd like to share with you.
I heat my garage with bitcoin miners. thats it. Imagine all those people that actually buy garage heaters for winter had bitcoin miners....i mean....i pay 5-7c a kw/h, so really i heat my garage (and it heats up the floor above it) and i have bitcoin left over to replace my equipment when it becomes obsolete. or i could run obsolete equipment, it will still turn a profit if it has a dual purpose as a heater.
someone smart could sell an ethernet/wifi controlled garage heater....installed in every home...decentralize....
my 2 cents.
edit: or you know, the russian ban thingy, whatever
submitted by rivierafrank to Bitcoin [link] [comments]

How My Cryptocurrency Mining Farm Makes ~$500 USD a day ... The ugly truth about owning a Bitcoin mining farm! Building a 500 GPU Mining Farm - YouTube Final Set-up of 400 GPU mining Farm ! Complete and fully operational ! Setting Up A HUGE Bitcoin Cash Mining Farm

Bitcoin mining farm 3d render Illustration. Close-up portrait of handsome young businessman at cryptocurrency mining farm. Free . Cropped shot of computer engineer with ethernet wires at ethereum mining farm. Smiling young businessman using tablet at ethereum mining farm. Storage with equipment for bitcoin cryptocurrency mining farm. Successful young businessman reading documents at ethereum ... Sep 18, 2014 - Photos of Bitcoin mining operations. See more ideas about Bitcoin mining, Bitcoin, Bitcoin mining rigs. Cryptocurrency mining equipment on large farm. ASIC miners on stand racks mine bitcoin in server room. Blockchain techology application specific integrated circuit. Steadycam footage along racks. 00:11. Connected devices Internet of things (IoT) cloud computing data network. 00:20. Blockchain bitcoin mining conceptual crypto currency digital encryption blocks. 00:18. Global connected devices ... Cluster: ein Zusammenschluss von zumeist mehreren Servern um z.B. Kapazität und Rechenleistung zu erhöhen. mining Rig: ein spezieller Zusammenschluss von meist mehreren Grafikkarten um diese alle gleichzeitig zum Mining zu nutzen.Z.B. eine CPU und 8GPUs da eine GPU im Verhältnis von Leistung und Leistungsaufnahme (Verbrauch an Strom) beim Mining viel effektiver ist. Jun 1, 2019 - Explore Alucard's board "Bitcoin mining rigs" on Pinterest. See more ideas about Bitcoin mining rigs, Bitcoin mining, Bitcoin.

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How My Cryptocurrency Mining Farm Makes ~$500 USD a day ...

Hey wolfpack kicking off 2018 full speed ahead, China said it's the year of the dog, personally I think its the year of crypto. Update on the VoskCoin mining... I set up a Bitcoin cryptocurrency mining farm in my garage with GPU mining rigs and ASIC miners as well as FPGA miners in my house. I explain how to setup yo... The virtual goldrush to mine Bitcoin and other cryptocurrencies leads us to Central Washington state where a Bitcoin mine generates roughly $70,000 a day min... Mining Bitcoin is as easy as installing the mining software on the PC you already own and clicking start. Anyone can do this and see the money start rolling ... #cryptocurrency #BAKKT #Bitcoin #altcoin #binance #kucoin #coinbase #ripple #cryptocurrencynews,#xrp #bnb #neo #bakkt #fidelitydigitalassets #bitcoinprice #bitcoinnews,#bitcoinpump #bitcoindump # ...