Another interesting mining video from Linus! Check it out here. Also there are two in new posts in the works, so stay tuned!
Tuesday, March 27, 2018
Tuesday, March 13, 2018
Single board mining
I’ve been working on a new project,
mining cryptocurrency on a Raspberry Pi Zero. You might think this is
crazy, and it is a little. I’m mining something called Magi coin.
Honestly, I don’t know much about it. I may have to look into it
more later.
With my Pi running, it looks like I’m
getting .5k hash a second, which is super small, but still something,
especially considering my Raspberry Pi uses very little power.
Here is what the mining looks like via
my ssh connection.
I’m not sure if this is making or
losing money at this point. The rewards are super small and my
electricity is $.20 a kilowatt hour. The Raspberry Pi also runs the
Nyancoin Price bot, which you can find here.
So 5v * 1 amp is 5 watts or .005 kwatts, which times .2 is $.001 an
hour to run at most.
However, I have been running into a few
issues. One, the mining seems to cease whenever my ssh terminal is
closed. Two, in total I have run the miner for 20 hours or so. In
that time, I have mined 0.00314006 Magi. At a price of approximately
$.5 a magi coin, this is not very much. And I know I have spent more
than 3 hours mining. So it seems this experiment was not profitable
for me at this time.
Here is the video
that inspired this adventure.
Monday, March 12, 2018
�� TOP 5 SCAM COINS YOU REALLY WANT TO AVOID ��
Here is an interesting video on the coins with scam like characteristics. I haven't personally researched these except for some work on bitconnect. Speaking of which, the section of bitconnect here is spot on, check it out.
Friday, March 9, 2018
Introduction Post 2018
Have you been hearing lots of rags to
riches stories about Bitcoin and want to know what all the hoopla is
about? Well, I can’t guarantee you will get rich but you are in the
right place.
Welcome to the BTC+, a Bitcoin and
Cryptocurrency blog. BTC+ has a plethora of content, from “how to”
guides to investigative reporting.
If you are new to Crypto, why don’t
you start by getting
a wallet?
Or you could also check out my ebook.
It outlines the process of getting your
first $50 of Bitcoin. So a 16.5 times return on investment! Wow!
Or you can also check out some of my
free content here
Or some of my most popular posts:
Or some of my favorite posts:
Tuesday, March 6, 2018
The Pattern of a Ponzi
Ponzi’s often have a set of
characteristics that help identify them. Some people will insist a
ponzi is not a ponzi as they have been paid by the scheme, but this
does not necessarily help their cause, as it is part of the pattern
of a ponzi. At the second level of a pyramid/ponzi scheme it is
critical people are actually paid, otherwise the scheme will stop
right there. If the fraud just persists one level after the creator,
the profit won’t be all that great.
As you can see with this crudely made
graphic, the ponzi requires exponential growth to continue. It can
continue a little while, but will eventually reach a critical mass, a
point where it is no longer possible to attract enough people to pay
the upper levels of the pyramid. This is where the owners skip town
to run the scheme again somewhere else. Everyone else generally ends
up with nothing.
There is a very good reason I am a
blogger, not an artist.
Another critical part of the ponzi is
that the method of making money is overly complex, or simply not
explained (look at my past posts for more on this).
99
bitcoin recently reported on a possible ponzi scheme.
Note how USI seems congruent with a typical ponzi scheme:
There is little information about the
founding team. This would definitely be the case if they plan on
skipping town after everything shuts down, or if they did that in the
past. Further, it seems there is evidence that the founders they do
know about seem to have been involved in fraud. This doesn’t look
good for USI.
So people might even think this
reflects poorly on Bitcoin or on Crypto as a whole. Well, you
wouldn’t blame USD every time a Ponzi was conducted in dollars,
would you? Probably not. Hence blaming Crypto for this really isn’t
that helpful.
Read more about my past reporting on
Ponzi’s
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