I like your viewpoints, well thought out and careful.
My last BTC transaction (worth ÂŁ70.00) had a network fee of 0.00000286 BTC which according to xe.com currency converter is: ÂŁ0.09p, which is 1/10th of a ÂŁ1.
Correct, BTC transactions do take time, the fastest I have seen is 30 minutes, again Iâm unsure if itâs longer with higher value transactions. I believe they are looking at a further system similar to a physical BTC wallet that can approve and confirm on the spot and then carry out the processing a bit later, I think it might be a prepay sort of card where you transfer BTC onto it beforehand.
I will check to see if the network fee is higher when dealing with higher value transfers.
Iâm unsure how much we/retailers pay in network fees for the usual visa/mastercard debit payments, but I expect it to be similar, do you know?
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Stop talking about Linux, you should talk about distros. People use distros.
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Yeah, Bitcoin has the Lightning Network on top. A blockchain alone will never scale and be decentralized at the same time (despite multiple shitcoin projects still claiming that), so the Bitcoin community went the way of a layered approach like you find it in other software systems, like for example the network stack.
With LN the blockchain is used to establish payment channels between nodes. Payments can then be routed over multiple channels to the receiver. Payments on LN are instant, they have extremely low fees and are not limited except by hardware of the individual nodes on the path. There is no mining involved in LN transactions, only in opening/closing of channels. There are currently already ~34k nodes on that network and it has insane growth.
When I speak about Bitcoin becoming the global payment rails I mean Bitcoin + LN. Bitcoin alone canât scale to handle this, and so canât any other blockchain, even if they pretend they can.
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You are doing it wrong. You have to post the âlet me interject for a momentâ copypasta
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IMF reports to the United Nations, a unity of countries, countries mostly controlled by the people.
Shady Random Crypto Corporation reports to no one, itâs goals are unadulterated profit.
I will not explain you what can happen if power of a country is transferred to a company but check out these pages;
http://history.emory.edu/home/documents/endeavors/volume3/DanielGerstell.pdf
But same for me, I can only speculate on how bad it will be. People can be benevolent and governments can make agreements to mitigate the dangers of the internetional alt-money.
At least you donât post a (GOLD) (SILVER) (pennystocks) BITCOIN WILL END THE FED! every day. And I do think you have a lot of valid points but we have a very opposite view on the organisation and regularisation of the crypto market. Like Aaron said, your viewpoints are well thought out and very interestingly worded. I always read your texts completely.
All of what the US did gave us years of stability. And no wars between European states. I donât know what country you are from but the US dominance has brought years of relative stability. And maybe things will have to change but China or Europe or Russia are all contenders when the big boy USA crumbles. I doubt it will be a corporation as this will cause global conflicts to go unchecked. But thatâs just my boomer/doomer view on it and I canât predict the future.
Android is not Linux per say. Did some technical aspects of Linux get included? Yes, Are some closed OSes like Android or IOS like Linux, no lol, they are in teh chains of Google or Apple, both International Corporations that make their investorâs interest priority over others, kinda like the US over the rest of teh world, strange you have a opposite view on this. But every post you make about apparently supports replacing governments and rules with corporations and shady business.
Linux is not in the pursuit of anti-oversight and corporate greed, Google, Apple and even Microsoft are.
Power is a dangerous thing and should never be randomly given to some shady unchecked corporation.
yes it is.
The graphical part is java layer but the OS is linux.
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True, itâs like a caged Linux where a big corporation makes sure to keep an eye on you and every move you make. So sweet. It should be called Valentine OS. Anyways, this drifted us a bit far away from Bitcoin and NFTâs. Same thing there, I use linux a lot, maybe I use the rare and weird linux distributions where I do not need to fork over my privacy to have the right to use it. Android is a nice example of how centralisation (and the money and power behind the âjava layer lolâ beats all other decentralised distributions. 
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Is your whole point here based on the assumption that Bitcoin is a company? If yes then, well thatâs complete â â â â â â â â , Bitcoin is not controlled by a company or anyone really.
That is not true for other crypto projects, which usually have a leader and a company that develops it. Bitcoin had an extremely unique origin story that allows it planed that way or not we donât know, to stay completely independent. There are multiple companies that work with Bitcoin and obviously all others are invited to do so as well, but they have no control over it.
Are you sure? Iâm not against regulation at all. Bitcoin itself is just ticking, crating blocks every ~10 min, as it always does, no one can change that and obviously trying it would be a complete waste of time. Companies who build products on it and for example hold coins for their users however should be regulated, like banks are. And the other shitcoins, they are mostly not truly decentralized, they will probably all die because they can get regulated directly and that will make them meaningless.
It doesnât mean that the USA will crumble. But it will remove an unfair advantage they had. If they do the right thing they will embrace it and allow their financial sector to have the security and regulations to freely build on it. The new advantage will be to have the entrepreneurs that can build businesses on it.
Yes it absolutely is. Itâs the Linux kernel. Thatâs the actual software that is called Linux and Android uses it. What you usually see as Linux desktop or server is the Linux kernel together with a GNU userland, Android just has a different userland, one for phones.
Yes they do, I donât like both of those companies and their proprietary crap. Android is actually open source, not only the kernel. But the whole Google app crap on top is proprietary. I donât have that on my phone, I have a completely open source (except for some drivers) ROM for my phone.
But anyway, the point is, Apple is completely on their own developing their OS, while Google profits from the rest of the industries improvements on the kernel. And they themselves contributed a whole lot of stuff to make it usable for the phones. For example, there where a lot of improvements for power saving, which is essential for such devices. Power saving features are neat everywhere, but no company that runs for example rack servers will invest in optimizing an OS for such things, but they got it anyway, because Google implemented if for their low power stuff. And the same goes in reverse.
Maybe that example illustrates better the network effect I mean.
You got a completely wrong impression of me. I honestly trust government more than corporations. But even better are things that require neither of those to work, and I happen to think that Bitcoin is one of them.
Yes, itâs a neutral technology that gets used for the good and the bad. Like Bitcoin 
I agree. But that is the situation we currently have, and I see Bitcoin as a way to fix some of that. Like completely open source payment solutions that are independent of corporations to break that credit card duopoly. Or fix the power over stealing our time and money by devaluing the currency, by replacing the monetary policy with unchangeable rules instead of incompetent rulers.
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Norton Antivirus, now with âcrypto MININGâ in it. lol. Big tech embracing it⌠oh no, who would have guessed they want to milk the cow before it expires? 
Norton was heavily criticised for this, it was evident that the fees to mine through Norton were way too high. This will be ignored by any serious crypto miner. Anyone who knows computers will never use Norton for anything.
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Hi Aaron,
Is the mining profit gone down? I guess you mine another coin but in USD or GBP, how does it affect your operation? Or does the price not affect you at all?
And thatâs kinda it. I understand that you are âan insiderâ. But explain it in simple terms. Let me give an example;
- Norton Anti Virus sells trust. Hence their business.
- For their higher price subscription
+ A crypto miner app for ETH (Etherium).
+ A wallet âsecured by themâ.
- A fee of (currently) 15% of the crypto transferred to you
+ Mention that making profits/money can be taxed.
- Do not mention To withdraw ETH you need a âcertain amountâ mined
- To withdraw you need to use an exchange.
+ Mention the heat can cause wear and tear on your machine
+ Mention the value of the ETH fluctuates
++ Mention itâs very likely that you will earn nothing all things considered
+ Mention that the regulatory of ETH might change
- Does not mention the regulatory status of ETH is in limbo.
â+â means their information makes me trust the product
â-â means their information makes me think itâs a scam
A big bad - for them not mentioning how to change ETH to something of value.
If you want to withraw your crypto billions, you have to :
- move the ETH from âNorton Walletâ to an exchange and pay a deposit fee
* supply an ID card to the exchange corporation, making sure to black out data on it that is not required. - Make a withdrawal from that deposit and pay the exchange 0.15 EURO (I guess wift does it for free in GBP)
Anything I failed to mention or understood incorrect? Please inform em so I can change it and make it clearer.
Yes, mining profit has gone down but I am still making profit.
With Nicehash someone has commissioned my machine to mine Ethereum and pay me in Bitcoin. So every few hours an amount of BTC gets transferred to my Nicehash wallet. So currently I am still earning the same amount of Satoshiâs ( 1 satoshi is 0.00000001 ) but their value has dropped and I am making less profit.
This doesnât worry me to be honest there is still a healthy profit and I can pay off my electric bill with no problems. My view is that the best is yet to come and we could be seeing a value of ÂŁ100,000 per BTC as more and more countries adopt it as legal tender.
Leaders of developing countries or countries that have a low value for their currency will be put under great pressure to adopt bitcoin as legal tender and protect their citezens from inflation.
The reason the value will go up is due to millions of people suddenly using it, exchanges will set a very high price for the BTC they have. So lets say Venezuela adopts BTC in 2023 we will have all the adults out of a 28 million population using it which is what will create a constant demand.
It is the adults in El Salvadorâs 6.4 million population using BTC that has kept the BTC value as high as what we see today and I honestly think the lowest it will go is ÂŁ24k as long as El Salvador keeps using it.
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It seems like an attempt to increase their crypto profile, they can see the way things are going and they are smart for getting involved. Yes, they are a trusted brand. but anyone good with computer skills wonât use norton due to their anti-virus and security software using too much system resources.
Itâs a great idea to use the processing power of millions of idle computers to mine crypto, Norton are in a brilliant position to pursue this due to having a lot of global subscriptions.
The only issue is the fees are too high. Signing up with nicehash a miner actually pays nothing and the full power of your processing is paid to you every few hours with no issue. This is a shrewd proposition TBH, Norton are depending on people not knowing about nicehash and not really having a good understanding of mining crypto, all they know is if they click a few buttons they will earn a little crypto and Norton will take 15%. If a beginner was to ask me about starting mining then the suggestion would be nicehash and definitely not Norton.
Yes, it seems a bit rushed to me, but the idea is a good one. I guess as time goes on they will iron out the kinks and make sure anyone signing up will have all the info they need, theyâll create FAQâs and help forums and should be able to afford a team of chat helpdesk employees.
Some machines will probably only generate ÂŁ1 per week or less, itâs not much to the Norton user but if there are millions of people doing that then norton could make quite a huge chunk of crypto money on this. Thatâs some good looking out.
Edit: It does look like they require those opting in to have an 8gb GPU minimum spec, so this could easily earn ÂŁ1 to ÂŁ2 worth of Ethereum per day.
I like and dislike what Norton is doing here. I like it because it will introduce lots of non-tech people to mining crypto which is a good thing for everyone involved in crypto.
I dislike it because they are taking advantage of people with their extortionate 15%.
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I know you guys like your data so here you go, this graph shows the hashing power each country is contributing to BTC. Itâs interesting how much china was doing and how much the USA is now contributing.
I have looked at the specs for some of the current BTC ASICs and some use up to 5000 watts, I think the likes of Nvidia/AMD could make a better more energy efficient BTC mining processor than the current ASICâs once they have a full understanding of the BTC blockchain. Either that or the current BTC processor manufacturers need a better understanding of energy efficiency.
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FFS educate yourself. This is again a complete nonsense.
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Ok, So the Antminer S9 has 150 ASIC chips and uses 1350w, It was made in Aug 2018 and is no longer profitable and has a speed of around 14T/H.
This would mean each ASIC chip is using 9 watts. If this is correct then you are right, power consumption is already super low per chip.
Itâs unrelated.
The consumption itself is irrelevant. Itâs the consumption per unit of work to do that matters. So downscaling can help, but can also make things worse.
Whatâs more, the understanding of blockchain is completely useless wrt making efficient ASIC. As I already told you before, the ASIC does NOT access the blockchain, this would be a complete waste of performances. But since you did not understand it the first, no wonder you affirm complete BS.
Why do you even care anyway? You said you think all of crypto is a scam and I donât think youâre ever going to be a miner.
I have educated myself and I am somewhat right, Intel have a BTC ASIC called the BZM1 (built in 7nm foundry) which currently does 137 T/H per 2.5KW Which appears to be the most energy efficient in the industry. The BZM2 is due to be revealed at the end of this month, Iâm looking forward to see the specs.
So I do think the likes of AMD/Nvidia and Intel/Samsung can help make BTC mining use less power in general. Also there were recent announcements that there will be BTC mining ASICs developed using a 5nm process, so we should hopefully see a further reduction in BTC ASIC power use and more performance.