Welcome to the Notes for Clubhouse call: Jan-16-2019
To get to the Call..... Click "Mining Clubhouse!" voice channel in PiMP Discord!
Last meeting's notes: https://forum.getpimp.org/topic/5874/2019-01-09-eth-fork-etc-controversy-portfolio-and-coin-tracking-getting-updated-news-on-coins-and-miners-and-more
Welcome/Intros (intro thread: https://forum.getpimp.org/topic/1465/please-introduce-yourself-here/ )
Attendance:
AnjinMeili
cutty971
Eketubol - Blockify.xyz
Geo
Lily
Lolliedieb
Louis
melt
RoyKiii
Sequal
Agenda:
Bye Bye Bitmain - GPU Miners are winning over ASIC centralization - this is a key tenet of crypto (1)
Ethereum Constantinople - Postponed at the last minute - Keep on keepin on, ETH miners! Their update is not ready yet. (2)
This is good for those who didnt yet have enough for a ETH payout from the pool.
ETH down 18% ETC down 14% for the week.
LOKI down to $0.14 USD
Cryptopia Hack - confirmed on their twitter as a hack, not a rumor anymore (3)
Zergpool.com is back! We'll be putting some examples back into the managed profiles soon. (4)
First ProgPoW coin BitcoinInterest (BCI) is already up to market cap $5,841,070 12%
New miners of note:
New sgminer-fancyix version will have ethash support for amd and nvidia
New bminer will have GRIN (mimblewimble) mining support for nvidia.
nanopool miner - coming soon hopefully
Discord now shows people on mobile
Hardware corner
RX590 and RTX 2060/70/80 are all available in stores. Prices are starting to become reasonable.
2080Ti designs are out - and they are HEAVY! not horizontal - or a big brace - we still dont see it becoming a mining card - mining devs aren't quite ready yet with the optimizations
Coin/Algos (Prices/Mining Profits/Difficulty)
PIMP OS news:
Masternodes? Maybe we could monitor them.
pimp 2.9 on the way - we will be taking 2.8.6 + cuda10 + nvidia 410 + amdgpu 18.40 or 18.50 + apt upgrades + pimpups + new miners. Expected to be in beta within a week
helpme 3.0 is nearly done - and works great - bootstrap 4 -
How is your life with mining?
Great - have a ticker at work to watch the coins prices - nice to have support network available to discuss - and the call to tell you of unexpected changes
Bitcoin adjustment - a year ago it was only X, but now it's X - rise and fall of coins - some of the big companies are dropping out because of the adjustments - there are more anonymous miners than Bitmain - BTC mining itself is coming back to the public
Pools - trust relationship with the pool - we place a lot of trust in the pool as a miner - they own our hash until theypay it out. One of the regulations shakedowns may be pool related - or tighter audit requirements
in WA state USA, a crypto exchange like Coinbase must have enough money to cover all crypto that you have in play / to cover the bets. Some regulators believe this should apply to pools as well.
most dark web vending services are escrow service
ICO rage of 2018 - most of them were fraudulent - and caused regulators to gain power
This may be why customers prefer paypal - is buyer centric - and protects them - we never have any problems with paypal
not many reports of pools being hacked or compromised - but we place blind trust in the pool not to misreport our hashrate
Bitmain and Claymore have been found double-dipping or taking hashes (skimming)
Block rewards can be taken or shares can be false-rejected
Trust but verify.
Ratings companies believe that pools should be rated. JD Power says so many pools results do not line up.
Power solution from Roy: he's mining at a laundromat. in LA County, you can get a discount on power/water. If you have efficient machines you get a great power rate! Like 6 cents / kwh.
In middle of nowhere, Canada, 1.2c/kwh can be found.
Power Subsidies are going away little by little.
Dont forget we have tax advisors available for you. ask@getpimp.org for your questions!
Special Guest Lolliedieb, author of lolMiner, developer of BEAM and other Equihash coins
Lolminer is being rewritten from the ground up for performance and optimization. He wants to be able to support other algos besides Equihash - and more AMD + NVIDIA mixed support. The way the work is scheduled is complex - OpenCL and CUDA take the work much differently - and it's tricky not to go to 100% CPU usage.
The lolminer 0.7 alpha so farsupports a brand new hot coin called BEAM. This is an Equihash 150_5 variant that runs great, and is focused on AMD. Once he gets the other algorithms in, we will deploy via pimpup. Currently BEAM mining is available in PIMPOS for AMD and NVIDIA using bminer, and NVIDIA using gminer.
BEAM and GRIN Mimblewimble approach - requires wallet to be open to receive payments - this is a recent technique for handling transactions - idea is that each block that's mined on the chain, there's no transaction data in there in the classical way - each block has one big transaction of inputs, and an output. There's a map of which inputs pay which outputs. It's just a public and private key for input and output. and this message transfers through all of the network - and the receiver has to pick up the message not too much later than it was sent, and look for the id, and acknowledge and handshake and the coins are transferred. This way the transaction can occur without any permanent address.
This makes the entire transaction anonymous. But the wallet has to be open to make the handshake within the time frame. So far there has not been many issues with payouts being missed.
Different pools have different approaches.
Sunpool issues the public and private key - and then you can withdraw your own funds with your private key.
sparkpool, leafpool are other BEAM pools that are available. They have all paid well so far.
BEAM is very surprised on the high nethash, and happy about that.
He Expect to bring the other algorithms back by beginning of Feb. Anniversary of lolMiner.
Question: How do we keep an eye on everything?
Links
https://thenextweb.com/hardfork/2019/01/15/unknown-bitcoin-miners-cryptocurrency/ (1)
https://www.coindesk.com/ethereums-constantinople-upgrade-faces-delay-due-to-security-vulnerability (2)
https://twitter.com/Cryptopia_NZ/status/1085084168852291586 (3)
https://cdn.discordapp.com/attachments/324764024858345473/534808259941629963/20190115_135642.jpg (4)
https://www.ccn.com/us-bitcoin-investors-lost-1-7-billion-in-2018-61-unaware-they-can-claim-a-tax-deduction/ (5)
Q&A
Anyone attending crypto meetups/conventions?
Please provide your known working OC settings.
Wrap Up
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