Topic: Mining is Dead: How Do U Incentive transaction servers?? (Read 195 times)

seriously are u a moron?

Addresses are sha256 of a public-key, escdsa is how the public-key is calculated from the private-key, me thinks your are a retarded bot sponsored by this community.

whattomine.com quotes -1$/day return on s-9 antminer, at 0.010 cents/khw, that's a better price than anywhere I know,
U talk what of S-15, the price of s-9's are so low they're almost free,

Pls don't talk bullshit,

ASIC's are just the chips that are used in ALL the miners today, first it was cpus, then gpus and then asics, that's how its done, an s-9 is just a box full of asics, then thing is BITMAIN makes all the asics for all crypto, not just bitocoin, but still address the issue,

If mining is not popular, then how are the transactions to be processed?

don't talk shit about newb this or that  answer, the question

s-9 generates -$1/day, I don't see no s-15 on bitmain.com where I go, maybe its a make believe hardware where you pay now, and get in 5 years, like is typical of bitmain,

so what is the speed of this s-15? the s-9 is 14t/sec

do you have this s-15 or are your just talking shit?

I get email everyday offering me antminer s-9's for $100 here in ASIA, so I know they're being dumped,

BS

R U  a BOT? You just posted a generic response to a serious inquiry.

i believe you are in need of some education about bitcoin. try googling some of the articles that are written for newbies like you to learn more about bitcoin and how it works. for example CoinDesk has a lot of good articles that focus on simplicity for newbies on a lot of different topics. here is an example about mining and difficulty: https://www.coindesk.com/information/how-bitcoin-mining-works

guess you didnt get the memo

bitmain S15's new release
bitmain S9's on discount
canaans avalons on discount

minings not dead.
most efficient miners have a mining cost of $3100
bitcoin price is $4k. so its profitable to mine

what your not realising is yes those who bought s9's in 2017 at $2k mathematically are not breaking even IF you put those numbers to 2018 stats. but those S9's had a year to get funds in. so what they are mining with now is rigs that paid off the hardware cost and now just paying off the electric. which at 5cent a kwh is still profitable

the reason hashrate drop is because farms are swapping rigs to the next gen asics.
EG for every two S9's they can swap it for one S15
2xs9=2.6kwh usage
1xs15=1.6kwh usage

so same hashpower less electric
going one step further. to prevent a hash spike like 2013 that just shot them in the foot with a two year limp. they are being smart.
for every 8 units they are not swapping for 4 next gen. but instead 3 units. to make the difficulty go down. so that they can still mine for less cost. instead of the endless cycle of trying to push and fight for more power
......
transaction servers?
um you do realise that an asic does not even have a hard drive and does not store the blockchain right. they are just glorified calculators tasked with only one job. calculate a hash from another hash.
ASICS do not collate transactions. they do not list them as a block
a node does that. and then a node creates a hash for that block. then the node sends a hash to asics and then the asic calculates a new hash from the first hash.
emphasis mining is nothing to do with transaction collation/block formation
learn the difference between a ASIC farm and a node
......
anyway this is all just temporary drama. just wait until the big main batches of mining rigs get delivered in the last week of december. and the hashclimb really begins. which then affects the market/mining value equilibrium to put some buy pressure on the markets

...
your last point about re-deploying asics to brute force old bitcoin addresses .. seriously.. addresses are ecdsa
asics are ONLY SHA256

that like trying to crack math using emojis

Mining is DEAD, and its not coming back, difficulty will remain high, because 100K S-9's in CHINA will be re-deployed as $10/ea space heaters. Re-purposed for the pure purpose of mining for 'pristine' keys, not handling transaction

[ Billions of dollars of Pristine 'satoshi' addresses, still wait for some lucky person to crack their key; The best part is all these addresses include public-keys, which makes the DLP problem super trivial/easy to solve when a HUGE number of servers are at task. ]

With no incentive to run full tx-index servers, and no incentive to handle transactions, what is the hope in the future of bitcoin transactions?

ZenCash has a good model, of paying people in Zen to run secure-nodes, and super-secure-nodes, but I don't see any incentive for running transacction servers in the bitcoin world,

Difficulty will not go down, but people will be people, and given that you can't mine properly there is no incentive to process transactions, the only utility is running an S-9 as a space heater and hoping it find a bitcoin every two years, at the current difficulty.

The original idea of Satoshi's bitcoin, was that everybody ran a full-node and processed transactions, and every 10 minutes, somebody found a block, and by consensus +51% that block was accepted, and that user-address got credited and validated in time.

In the future, most of the re-deployed S-9 miners ( and all the clones and earlier versions ) will be redeployed to scan for 'lost pristine' satoshi coins, which are where the REAL MONEY is at, the CHINESE are not stupid, what's the point of running a space heater to maybe find a bitcoin, when you can run the heater as a LOTTO, and maybe get 50 bitcoins.

So what's the plan by BITCOIN-CORE community here to address the issue, we know there is a scaling problem, we know that the current bitcoin server network can't handle traffic, so how in the hell is all this going to work in the near future where MINING IS NO LONGER PROFITABLE, like it is now.