Andy

Dogecoin shifting to proof-of-stake would be good for the environment, but what impact would it have on miners and ASIC manufacturers?

A change from proof-of-work to proof-of-stake (PoS) is rumored for Dogecoin.

Do I know if Dogecoin is switching to PoS?

No.

Do I believe it will go to PoS? Probably not.

But I love the “what if” game.

I try to predict where the market and the mining industry are headed as someone who works in the cryptocurrency mining sector and how that might pan out. The mining industry would be drastically affected if Dogecoin changed PoS or another aspect of how new blocks are created.

The options and their results are shown here.

Scrypt Mining Could Be Devastated

I won’t argue for or against Dogecoin switching to PoS. While it’s hard to determine if the recent rumors about the potential for a switch are true or not, they were enough to have Bitmain supposedly pause Litecoin miner manufacturing.

The larger question in my mind is, What occurs to miners if Dogecoin adopts PoS?

First, Scrypt mining would be devastated. Over 60% of the revenue from Scrypt mining is made up of DOGE. Any L3+, LT6, or Mini Doge Pro miner that isn’t using electricity that costs $0.04 per kilowatt hour would need to be unplugged right away if it were taken away.

For a while, the network would probably fluctuate erratically as older equipment miners struggled to decide whether to leave their ASICSs on or off. The apex Scrypt miner, Bitmain’s Antminer L7, would see its profitability reduced by nearly 75%, reducing profits to a whopping $4.83/day at $0.05/kWh.

What about the miners who lack access to industrial electric rates? You could make $0.72 per day using the L7 9050M, which recently sold for about $9,000, at a cost of $0.10 per kWh.

Yikes!

The likelihood of those who recently bought an L7 ever recovering their investment, let alone making any money, would be extremely low in the event of such a significant change.

ASIC Manufacturers Would Be Forced to Drop Prices, Further Impacting Their Bottom Line

The vastly reduced profitability would inevitably lead to the price of the L7 dropping quicker than it did during the COVID-19-induced crypto crash. Miners would expect the L7 to cost between $1,825 (12-month ROI) and $2,737.50 (18-month ROI) if miners were only charged based on the length of their expected ROI. This reflects a minimum price reduction of nearly 70%.

How quickly would Bitmain respond? Would they gradually lower prices week after week, as Goldshell has done with many of its miners in recent months? As customers witnessed the price of the miner they had just spent thousands of dollars on being repeatedly reduced, this tactic repeatedly left them with a bad taste in their mouths.

Or would Bitmain announce that they would keep charging fairly for miners as they have been doing lately?

The consequences of a Dogecoin PoS shift would primarily affect ASIC resellers as well. Many L7 miners are suppliers, so stores holding those would need to immediately mark them down significantly. However, based on their recent history of price-gouging customers, like charging $60,000 for a KD6 that is barely worth over $1,000 today, it’s doubtful many tears would be shed for them.

Scrypt miners from numerous home mines would saturate eBay and comparable marketplaces. It would be a race to the bottom as desperate miners tried to salvage whatever value was still in the chunk of metal that can now only be used as a doorstop or display piece if one is desperate.

It would continue to mine litecoin. There wouldn’t really be a choice, so those L7s would continue to operate because they would still be somewhat profitable. If a more effective Scrypt miner isn’t already under development, it’s unlikely that a new Scrypt miner that could compete with the L7 will be released on the market anytime soon. There are some rumors that Bitmain is developing a miner that would be better than the L7.

The switch to PoS has already caused a significant amount of disruption, and we’ve only looked at one part of the cryptocurrency ecosystem. There would be a lot more issues and situations to think about.

How would that affect network security?

Would the yield from staking cause DOGE to eventually be labeled a security?

Would people embrace Dogecoin for the change or would they run away from what is currently the second-largest PoW coin by market cap?

My favorite what-if is now. Even though there are several possible outcomes for this option, it is unlikely and possibly even impossible.

What would happen if Dogecoin decided to develop its own mining algorithm instead of merging with LTC?

Innovation and Competition Are Healthy for Every Industry

What if there is a GPU mining renaissance? After the Ethereum Merge event, there’s a ton of really cheap GPUs available on the market. Those would get expensive really quickly. Mining purists would rejoice as they build their own mining rigs while trying to figure out how much DOGE they can stack. Though it wouldn’t last, it would be really cool to see. To be the first to market with an ASIC miner, the big three manufacturers Bitmain, Goldshell, and iBelink would compete fiercely.

Each of them would eventually have at least one ASIC miner available, and naturally, as time goes on, they’ll become stronger and more effective. The jumps and increases in difficulty would be ridiculous, and just like with Bitcoin

, it would eventually no longer be profitable to mine However, it could also lead to competition—something the ASIC manufacturing market desperately needs.

What if a door opens for another manufacturer or manufacturers to enter the market after the brief GPU mining renaissance? Currently, Bitmain, Goldshell and iBelink are the “big three,” and it’s really Bitmain, which has complete market dominance. Although Bitmain would probably prevail, what if someone else could be first to market, maintain that advantage, and establish themselves as a reputable and trustworthy ASIC manufacturer?

What if that business made the decision to hire additional miners and pay them fairly? To be fair, we do have to praise Bitmain once more for the pricing on its recent rollout of industry-changing miners. Reseller markups are still a problem, but that is a different subject. Perhaps this “new” competitor would adhere to the mantra that customer service actually matters. That might occur if consumers could get past their skepticism about the product’s dependability and the business produced a quality product. There are a lot of what-ifs there, no doubt.

A money-grab scenario for Dogecoin exists as an alternative. The project could go directly to Bitmain, Goldshell and iBelink and say, “We’re developing our own mining algorithm, which we’ll only give to you. How much money will you give us?”

What price would Goldshell be willing to pay to resurrect a business that has suffered numerous setbacks as a result of the most recent Bitmain altcoin miner releases? Or would iBelink fight tooth and nail to secure the manufacturing rights to the miner? IBelink recently unveiled the BM-K3 Kadena miner, which boasts 70 terahashes, a significant increase of almost 75% over the next closest model. However, the company can’t celebrate just yet because Bitmain will soon surpass that with the KA3, which will deliver 166 THs. How much would Bitmain pay to keep its market dominance if Dogecoin manufacturers made an offer?

No Change Could Be a Good Thing

What if DOGE chooses to simply continue with Scrypt mining?

The status quo is not that exciting, but it seems to be the most likely outcome. Sure, some changes might get approved by a vote, but Scrypt-based merge mining of Dogecoin and LTC is most likely to continue.

Bitmain is likely to continue pushing out L7 inventory before launching a more efficient Scrypt miner later this year AND In essence, two Mini Doge Pros in one box, Goldshell will release a Mini Doge Pro 2 for home miners. Numerous older models will probably be forced to permanently stop operating due to the impending LTC halving and the introduction of more productive miners.

The Goldshell Mini-DOGE is still a worth-buying Dogecoin ASIC miner.

The value of cryptocurrencies will increase and decrease. It’s likely that there will be another crypto scandal that no one anticipates but that, in retrospect, will be blatantly obvious. The sun will rise and set. Naturally, the majority of suppliers, particularly resellers, will continue to mark up miners and take advantage of loyal customers in any way they can.

Dogecoin’s future is impossible to predict, but the cryptocurrency sector is one of the few where anything can happen at any time.

Regardless of whether Dogecoin switches to PoS, the crypto mining landscape has always changed rapidly, and Scrypt mining is no different.

Change is coming.

Five fired Twitter employees were forced to drop their class-action lawsuit against the company after a judge required them to file individual claims for arbitration, the company said early Jan. 17.

On Friday, U.S. District Judge James Donato ruled in favor of Twitter, saying the former employees’ employment contracts included signed arbitration agreements that stated the employees would bring legal disputes against the company through arbitration rather than in court and included class-action waivers.

Donato wrote in the ruling, “Twitter provided copies of the signed agreements, which are clear and unambiguous.”

Since Elon Musk took over Twitter in late October, the company has fired thousands of employees. Musk has said the former employees will receive three months of severance pay. The lawsuit alleges that Twitter had repeatedly told employees before the takeover that even under the billionaire’s management, employees would still receive at least as much severance as the company had previously promised, including two months of severance pay.

But many of the fired employees didn’t get that much; they received only a month’s severance. The class action lawsuit, which accuses Twitter of breaching its contract, claims that Twitter should have paid the fired employees the promised two months of severance, as well as the two months of non-work wages they had already received, because of Twitter’s efforts to avoid violating the WARN Act, which requires companies to give notice in the event of mass layoffs.

The dispute resolution agreement provided to workers with their employment contracts states that disputes related to layoffs, among other things, must be “resolved only by final and binding arbitration by an arbitrator, and not by a court or jury trial.

The agreement added: “You and the Company agree to initiate arbitration solely on an individual basis and not on a class basis or on behalf of a private attorney general.”

The dispute resolution agreement states that “arbitration is not a mandatory condition of an employee’s employment with the Company,” and indicates that employees can sign a separate form to opt out.Donato further stated that copies of the dispute resolution agreements for 2017 through 2021, however, show that they were signed by five plaintiffs “Plaintiffs have not opted out.”

Donato said the original five plaintiffs who filed the lawsuit on Nov. 3 “were required to engage in individual arbitration.

The other three plaintiffs who joined the complaint Dec. 9 said they did not sign the arbitration agreement, Donato said, adding that they were therefore not affected by last Friday’s ruling and that he would decide how to handle their complaint at a later date.

The universe is full of mysterious galaxies, systems and planets. While we have seen great success with the James Webb Space Telescope in exploring the early universe, space continues to baffle and amaze scientists on a daily basis. One recent surprise came from a rare eclipse that left a star shrouded in the dust of its companion for seven years.

Astronomers say the discovery is a wonderful stroke of good luck because the binary system that hosts the star has a very long orbital period. Therefore, capturing an observation of this rare stellar eclipse is a once-in-a-lifetime opportunity.

The star is known as Gaia 17bpp, and according to astronomers Anastasios Tzanidakis and James Davenport, their attention was drawn to this system when the Gaia survey showed that the star was gradually brightening over a period of two and a half years. Analysis of the star showed that it had not changed. Instead, it has emerged from a rare eclipse caused by its companion star.

These new findings, along with data from Gaia, show that Gaia 17bpp has dimmed by about 4.5 magnitudes, about 63 times its average brightness. This state of the rare eclipsed star remained for nearly seven years from 2012 to 2019, and the time has come for it to brighten significantly in 2019. Astronomers say this brightening is due to the star finally coming out of an eclipse caused by dust around its companion star.

It’s an intriguing finding, Tzanidakis says, because no other stars around the binary system showed a similar dimming at that particular time. To study it further, the astronomers also looked at observations of the star from 66 years ago. However, they did not see changes similar to the rare stellar eclipses witnessed by instruments between 2012 and 2019.

Therefore, they believe that the dust of its companion obscured the star and nothing more, making it a rare encounter, but still one with logical implications behind it. Binary star systems are not the rarest of phenomena in the universe, but their discovery is still exciting. Some scientists believe that even our Sun once had a companion star.

Perhaps as we investigate this binary system more deeply, we will be able to learn more about the stars that call it home, and even more about the long orbital periods that make such rare eclipses possible.

Who needs to travel the globe when you can bring the world’s largest landmarks into your own home in the form of plastic bricks? LEGO has announced its tallest set to date, the new 10001 block Eiffel Tower, which stands 149 cm/59 inches tall when fully built. This is the latest addition to LEGO’s iconic line, joining other legendary icons from human history such as the Titanic, the Colosseum and Atari 2600.

The LEGO Eiffel Tower will be available in LEGO stores and on its website starting Nov. 25 for $629.99.

The Eiffel Tower may be the tallest of all LEGO sets to date, but it is the second tallest in terms of number of bricks, trailing only the LEGO World Map by about 1,700. If you’re worried that its massive height will be a problem for your family, its design allows you to divide it into four sections to make it easier to build or move it around.

Once fully assembled, the tower includes a green space at its base, three observation decks, elevators, and an office at the top, along with the French flag stuck on top of it for decoration.

As someone who spent nearly 36 hours building the 7,500-piece LEGO Millennium Falcon spaceship, I can safely say that assembling that many gray and silver bricks was likely a time-consuming (but fun) project. But it’s much cheaper than a trip to France, and when you’re done, you’ll always have a five-foot-tall architectural wonder in your home.

One of the biggest problems I encountered when I was looking to get started in Bitcoin mining, to invest and make money, was that most of the sites were written for advanced users. I am not a professional programmer, I have no experience with Ubuntu or Linux, and I have minimal experience with Mac. So, this is for individuals or groups who want to get started the easy way.

1.Get a Bitcoin mining or rig

Bitcoin es un nicho muy competitivo. A medida que más y más mineros se unen a bordo con ewil hardware de minería más reciente, la dificultad para minar aumenta cada día. Before even getting started with Bitcoin mining, you need to do your own due diligence. This means you need to find out if Bitcoin mining is still profitable for you.

The best way to do this is by using a Bitcoin mining calculator. Just enter the data of the Bitcoin miner you intend to buy and see how long it would take you to break even or make a profit. However, I can tell you up front that if you don’t have a few hundred dollars to spare, you probably won’t be able to mine any Bitcoin.

Once you’re done with your calculations, it’s time to get your miner. Be sure to check out our different Bitcoin mining hardware reviews to understand which miner is best for you. Today, the Antminer S19 is the newest and most powerful miner.

As a side note, it is important to point out that in the past it was possible to mine Bitcoins with your computer or with a graphics card (also known as GPU mining). Today, however, the mining niche has become so competitive that you will have to use ASIC miners, special equipment made exclusively for Bitcoin mining.

2.Get a Bitcoin wallet.

The first thing you need to do is get a Bitcoin Wallet. Because the Bitcoin is an Internet-based currency, you need a place to store your Bitcoins. Once you have a wallet, make sure you get the address of the wallet. It will be a long sequence of letters and numbers. Each wallet has a different way to get the public Bitcoin address, but most wallets make it pretty easy. Note that you will need your PUBLIC Bitcoin address and not your PRIVATE KEY (which is like a password for your wallet).

If you are using a local wallet (i.e. you have downloaded a program to your computer and are not using an Internet-based service) there is a very important additional step. Make sure that you have a copy of the “wallet.dat” file on a USB stick and that you print a copy and store it in a safe place. You can see a tutorial on how to create a secure wallet here. The reason is that if your computer crashes and you don’t have a copy of your “wallet.dat” file, you will lose all your Bitcoins. They won’t go to someone else, they will disappear forever. It’s like burning cash.

3.Find a mining group.

Now that you have a wallet, you’re probably eager to get started, but if you really want to earn Bitcoins (money), you probably need to join a mining group. A mining pool is a group of Bitcoin miners who combine computing power to make more Bitcoins. The reason you shouldn’t go it alone is because Bitcoins are awarded in blocks, usually 12.5 at a time, and if you’re not very lucky, you won’t get any of those coins.
In a group, you have smaller and easier algorithms to solve and all your work combined will make it more likely to solve the larger algorithm and earn Bitcoins, which are distributed among the group members according to contribution.Basically, you will get a more consistent amount of Bitcoins and will be more likely to receive a good return on your investment.

When choosing which mining group to join, you will have to ask several questions:

1.What is the reward method?(Proportional/Payment per participation/Payment based on score/Payment for the last N participations).
2.What fees do you charge for mining and withdrawing funds?
3.How often do they find a block (that is, how often will you get rewarded)?
4.How easy is it to withdraw funds?
5.What kind of statistics do they provide?
6.How stable is the pool?

To answer most of these questions you can use this website. You can also find a full comparison of mining pools on the Bitcoin wiki. For demonstration purposes, I will use Slush Pool; to mine Bitcoins. Once you are logged in with a pool, you will get a username and password for that specific pool, which we will use later.

Follow the link to go to their website and click on the “Register here” link at the top of the page and follow the step-by-step instructions. Once you have set up your account, you will need to add a “Worker”. Basically, for each miner you are running, you will need to have a worker ID, so that the group can keep track of your contributions.

4.Get a mining program for your computer.

Now that you have the basics covered, we’re almost ready to mine. You will need a mining client running on your computer to be able to control and monitor your mining equipment. Depending on what mining equipment you have, you will need to find the right software. Many mining groups have their own software, such as Bitminer, but others do not. You can find a list of Bitcoin mining software here.

I’m using a Mac, so I’m going to use a program called MacMiner. The most popular programs I have found for PC are BFGMiner and 50Miner. If you want to compare different mining software you can do so here.

5.Start mining.

Well, hopefully now everything is ready to go. Connect your miner to a power outlet and start it up. Make sure you also connect it to your computer (usually via USB) and open the mining software. The first thing you need to do is to log in to your mining group with your username and password.

Once you have set it up, you can basically start Bitcoin mining. You will actually start collecting shares, which represent your share of the work in the search for the next block. Depending on the group you have chosen, you will be paid for your share of the coins. Just make sure you enter your address in the required fields when you sign up for the group.

Conclusion: maybe it’s better to just buy the coins?

To conclude this article, here is something to consider. Perhaps it would be more profitable for you to simply buy the Bitcoins with the money you plan to spend on Bitcoin mining. Many times, just buying the coins will yield a higher ROI (return on investment) from mining. If you want to dig into this a bit more, here’s a website that talks about just that. happy mining!!!!