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Protoshare - Crypto Mining Blog
SLAX Miner 0.2
this is updated version of SLAX miner, old post is here Features :
only need minimal 512 MB USB FlashDisk
can run with unplugged flash disk, since SLAX can copy itself to run from computer RAM
built-in cgMiner-3.7.2 with support for GPU scrypt or SHA256 mining
built-in yvg1900 protoshares miner (all 64-bit variation of CPU)
built-in bfgMiner-3.9.0 (untested)
minimal installation only x.org, blackbox, and google chrome desktop
How To Install :
1. Extract the content of .7z to formatted flash disk with FAT32 Partition
2. Run [FLASHDISK]\slax\boot\bootinst.bat (on linux run bootinst.sh)
3. Boot from it (make sure persistence changes or checked)
4. run /opt/radeon-setup/radeon-setup.sh if your system have AMD GPU installed
How To Run :
miner software are located at /opt/cgminer, /opt/bfgminer, /opt/ptsminer
you can run example script /opt/cgminestart-cgminer or /opt/ptsminestart-ptsminer
copy those scripts and apply your on settings and mining pool account
to update gui shortcut you can edit /usshares/blackbox/menu to point to your script
to connect from remote, use ssh client such as putty, login with "root", password "toor"
added Google Chrome browser
added graphics text editor (xedit) and calculator (xcalc)
added bfgMiner (untested, since its not compiled for gpu support, and i dont have any ASIC or USB miner)
added script to install AMD driver, run /opt/radeon-setup/radeon-setup.sh on first boot to install AMD GPU
added vim for terminal text editor
added tmux for terminal screen management
added broadcom wireless driver (tested on my macbook)
added intel wireless driver (untested, i dont have any)
added bluetooth driver (just in case)
updated AMD Catalyst to 13.8
updated protominer to use yvg1900 latest miner (yam 2014-01-02)
AMD driver not activated by default, so it could boot to GUI on any GPU, you need to run /opt/radeon-setup/radeon-setup.sh at first boot, make sure to use persistent changes on first boot to apply driver installation
Mining hardware constraints in relation to transaction fees: thinking about the future
In a (not so) distant future when block subsidies are no more, miners' income will come from transaction fees only. Assuming everybody behaves the same way and mines to support decentralization, what each person spends on mining is also what each person receives as mining rewards, so the balance is zero. However they still have to pay for their mining hardware and their power bills. The question is: how much are you willing to spend to support the network? I would say not much more than regular banking fees. As a rule of thumbs, let's say $10 per month. Let's study 2 cases. If you already have the hardware because it is general-purpose (i.e.: the crypto is ASIC-resistant), you can spend these $10 on electricity only. At a rate of $0.15/kWh, this is is 67 kWh, which means you can afford to let a miner of 91W run permanently. This is slightly more than a CPU (without the rest of the system), and only about one third of an AMD 7950 GPU (without the rest of the system either). If you must buy specific hardware (i.e.: the crypto is ASIC-friendly), assuming it is perfectly power-efficient, you can disregard power costs and spend your whole budget on hardware. Assuming you will renew it every 3 years, this means you can afford a $360 miner. For Bitcoin, as of today, this would be 3 Redfury USB miners. Now, the important part: since the sum of transaction fees can only support that much hashing power, if anyone mines more than their share, they contribute to centralizing the network, because assuming no one is willing to pay more transaction fees to compensate, someone else will need to stop mining. Conclusions: in the long run, GPU mining is not sustainable at more than 1 GPU per household. CPU mining by everyone could be sustainable if a CPU-friendly, GPU-resistant and ASIC-resistant algorithm can actually be designed. As of today, SHA-256 is completely dominated by ASICs, Scrypt with N=1024 ASICs are on the horizon, Scrypt with higher N values is vulnerable to DOS attacks, Quark's algos have already been implemented as ASICs by academics and Protoshare's Momentum algorithm is GPU-vulnerable. As far as I know, the only viable algo that has yet to be proven GPU/ASIC-vulnerable is Primecoin's, but given the fates of the others, I wouldn't set my expectations too high. So it appears that progression to ASICs will be hard to avoid. But big ASICs with power draws higher than 100 watts are definitely a threat to decentralization. They are acceptable as long as the money supply is growing, but are not sustainable, so I advocate the development of smaller ASICs to preserve the decentralization of crypto-currencies in the future. Coincidentally you can use these calculations to estimate the cost of a 51% attack in the future: let's consider the current global population of 7 billion people, each spending $10 per month to secure the network. For a 51% attack, you would need more than 70 billion dollars per month, or 840 billion per year, 23% more than the 2010 US military budget. Of course, all of this is assuming a PoW mining system. With proof-of-stake, it would be completely different, as block generation would be nearly free.
The budget is limited to hardware. Terms of the agreement, no speculating allowed. What's my best bet for ROI? ASIC (I don't have anything on order yet, so what can I get now?) CPUs and altcoins / protoshares? (At least that way there would be a use for the hardware after the difficulty goes so high that the cost of electricity makes it unprofitable to mine.) Are there calculators out there that help pick a hardware setup to maximize return with more options than bitcoin/litecoin/alt/alt-alt?
Description ProtoShares is a unique type of cryptocurrency that is not based on Bitcoin's code or model, as many other digital currencies are. For one thing, instead of the energy- and time-intensive SHA-256 mining protocol used by many alternative currencies, Protoshares has developed their own mining system called Momentum, which is designed to be quicker and easier for individual miners to use. Here is our real world 24 hour test with mining Protoshare (PTS) with CPU only in order to get an idea what profitability you can expect with the current market price for PTS. We’ve used two CPUs – one AMD and one Intel on systems that already mine Scrypt coins with video cards the idea to not waste the CPU performance we have available since Scrypt mining with GPUs does not require a lot ... Bitcoin is an innovative payment network and a new kind of money uses peer-to-peer technology to operate with no central authority or banks managing transactions and the issuing of bitcoin mining software; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any ... How to set up NiceHash mining? NiceHash is a marketplace that contains several different stratums for different mining algorithms. The main difference between NiceHash and a regular pool is that mining on NiceHash means that you are mining for someone else - for the buyer of hashing power who placed an order on the marketplace - and that on a regular pool you are mining for yourself. Top cryptocurrency prices and charts, listed by market capitalization. Free access to current and historic data for Bitcoin and thousands of altcoins.
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