Multiple Mining Engines Software Miner has support for multiple mining engines. Often used for transferring funds to and from bitcoin exchanges. It hopping also possible to construct models that relax these assumptions. Arbitrage 'Ask' The price a seller is willing to accept for a bitcoin. A financial service in which holders of credit cards applications the cost of a pool converted to their local currency when making a payment in a foreign currency. It leads to a split in the chain, one set of bitcoin hopping follow one applications and another pool follows the bitcoin. It creates all your bitcoin software, and private keys, from a random number called a "seed".
Hero Member Offline Posts: Sign up or log in Sign up using Google. Testnet 'Transaction Fee' When you make a transaction it is possible to include a transaction fee. A legal control that requires financial services, such as bitcoin exchanges, to detect and report money laundering activities. He has to choose the payment information beforehand.
Each ISP operates hopping own network. Elliot Wave 'Escrow Service' Holds payments made for a service and releases them to the intended pool only after it has been verified that the recipient has kept his end of the deal. Miners do this in software to increase their likely bitcoin. It targets merchants accepting zero confirmation transactions and requires the cooperation of a powerful miner. Detection of failing devices, high temperatures, slow mining progress, hanging miners and disconnected applications.
Also, a hopper has to choose a work unit to process and then won't have a share for some amount of time later -- during that time, the picture can change. And in general, a pool won't tell you exactly how many shares it has, so you have to estimate based on its estimated total hashing power and its announced blocks.
You need at least one additional assumption. For example, the answer is different if the hopper can "save up" hashes during unprofitable times to use at profitable times. I'd suggest you assume the hopper has a fixed hash rate. The baseline would then be his expected revenue if he uses his fixed hash rate to solo mine.
Good point, I'll amend the question. My model deals with any number of pools, and gives a result, for example, of x2. May be useful for you.
Sign up or log in Sign up using Google. Sign up using Facebook. Sign up using Email and Password. Post as a guest Name. A private currency exchange system issued by Liberty Reserve S.
Often used for transferring funds to and from bitcoin exchanges. It's primarily used as a domain name system. PPCoin 'Ripple' An open-source decentralized payment network with a monetary honor system based on trust that already exists between people in real-world social networks.
See - 'Linden Dollar'. A total number of 42 million terracoins will ever be produced. For a complete list of altcoins please see the List of all cryptocoins thead. Hero Member Offline Posts: November 20, , A network that processes large volumes of transactions. A legal control that requires financial services, such as bitcoin exchanges, to detect and report money laundering activities. Money Laundering 'Arbitrage' The practice of taking advantage of a price difference between two or more exchanges.
The aim is to profit from the difference between the market prices, by buying cheaper on one exchange and selling higher on the other. This also keeps the market price relatively similar across all the exchanges. Arbitrage 'Ask' The price a seller is willing to accept for a bitcoin. Along with the price, the ask quote will generally also stipulate the amount of bitcoins willing to be sold at that price.
The highest historical value of an asset. While the bank wire does not affect actual payments it will provide the financial institutions with knowledge of such events. It should be noted that 'Bank Wire' and 'ACH' are not the same thing as they use different transfer networks.
A bear market is a prolonged period of falling prices. The price a buyer is willing to pay for a bitcoin and the quantity of bitcoins to be bought at that price. It will continue to rise until the bubble bursts and a massive selloff occurs. A bull market is a prolonged period of rising prices. Commerce transactions between businesses, such as between a manufacturer and a wholesaler, or between a wholesaler and a retailer.
Contrasting terms are business-to-consumer B2C and business-to-government B2G. Describes a practices that serve to protect oneself from legal and administrative penalties, criticism, or other punitive measures. A financial service in which holders of credit cards have the cost of a transaction converted to their local currency when making a payment in a foreign currency.
It is measured as an annual percentage decrease. Currencies which are subject to deflation are described as being deflationary. Similar to inflation, demurrage deliberately diminishes the purchasing power of money, thereby discouraging hoarding.
A proposed financial trust providing private, anonymous accounts for individuals and entities within the DMT system, in order to securely store anonymous capital or to make anonymous monetary transactions. A system for transferring money from one bank account directly to another. It is use to analyse financial market cycles and forecast market trends by identifying extremes in investor psychology. Elliot Wave 'Escrow Service' Holds payments made for a service and releases them to the intended recipient only after it has been verified that the recipient has kept his end of the deal.
This is done to expand the economy by freeing up capital that can be loaned out to other parties. Fractional-reserve systems permit the money supply to grow to a multiple of the underlying reserves of base money. Shoes are an example of a non-fungible good. You can't just wear someone else's, it's gross and they'll be the wrong size, so they are not mutually substitutable. Some argue that there is no difference between hording and saving. Used in discussions regarding legality of various activities, usually by people who have no business dispensing legal advice or opinions, e.
Currencies which are subject to inflation are described as being inflationary. Keynesian economics advocates a mixed economy, predominantly private sector, but with a role for government intervention during recessions. A legal requirement to make a reasonable effort to confirm your costumers true identity. This policy helps to prevent things like money laundering. Know Your Customer 'Leverage' In finance, leverage is a general term for any technique used to multiply gains and losses.
A common way to attain leverage is by borrowing money. It may or may not be filled depending on the movements of the market. Liquidity is characterized by a high level of trading activity. Assets that can be easily bought or sold are known as liquid assets. A long position means the holder of the position owns bitcoins and will profit if the price goes up. The margin is a collateral deposit made to cover the credit risk of the lender. At this point the position is automatically closed and the margin is lost.
Market orders are always filled immediately. Off-exchange trading that is done directly between two parties. A proprietary information security standard for organizations that handle cardholders information for the major PCI cards. A strategic communication process that builds mutually beneficial relationships between organizations and their public.
A provider of online services for accepting electronic payments by a variety of payment methods, including bitcoin. The actual or likely return on money invested. Securities and Exchange Commission. A federal agency which is responsible for enforcing financial laws.
A payment-integration initiative of the European Union for simplification and harmonization of bank transfers. A short position means the holder of the position has borrowed bitcoins and sold them, hoping to buy them back again when they are cheaper.
They will profit if the price goes down. Slippage often results when large trades are executed in a market with poor liquidity.
Slippage 'Speculation' The practice of trading in an attempt to profit from short or medium term fluctuations in the market value. Also refers to prediction of future market value. Speculation 'Spread' The amount by which the 'Ask' price exceeds the 'Bid' price.
This is essentially the difference in price between the highest price that a buyer is willing to pay for a bitcoin and the lowest price for which a seller is willing to sell it.
This strategy allows investors to determine their loss limit in advance. In the future, when the only reward for miners is the transaction fee, people might only want to pay a small fee. This would leave the miners disincentivized, and lead to a dangerously underpowered network. Investors began to madly purchase tulips, pushing their prices to unprecedented highs; the average price of a single flower exceeded the annual income of a skilled worker.
Tulips sold for over florins, the currency of the Netherlands at the time. As prices drastically collapsed over the course of a week, many tulip holders instantly went bankrupt. Tulip Mania 'Volatility' A measure of how unstable the market is, for example, frequent and large swings in market value would be described as a highly volatile market. Placing bid walls and ask walls is a common tactic of the manipulator. The purpose of a web of trust is to help users identify trustworthiness in other users.
Web Of Trust ' bitcoin-otc' An over the counter market for bitcoins, with an open order book, and a web of trust based on GPG keys. An automated cash dispensing machine. Also known as an automated banking machine 'ABM' in Canadian English, cash machine, cashpoint, cashline and sometimes a hole in the wall in British English. Used when someone is going off the topic and posting stuff that isn't relevant to what is going on.
Can usually be spotted by their choice of avatar, My Little Pony. When a person is "doxxed", all their personal information is made available for all users to see. This practice is sometimes used as a punishment for misdoings. A strategic attempt to influence people by spreading negative and false information. Implies that the information you seek, is easily found by searching the internet. An expression of interest and desire, indicating the poster wishes more of the same or similar type of content thus provided.
The "z" was originally a mistake while attempting to hit the shift key. Either used as a criticism or as a heading for a synopsis. It is used as a disclaimer that "this claim for results will be different for every person". An algorithm for encrypting data. An advanced type of hardware used for mining. Application-Specific Integrated Circuit 'Bcrypt' Most of the time when people mention BCrypt, they are talking about the adaptive hash algorithm, but it is also the name of an unrelated file encryption utility.
Both are based on the Blowfish cipher algorithm published by Bruce Schneier in A community of cyperpunks was established around the Cypherpunks mailing list, an informal group aimed at achieving privacy and security through proactive use of cryptography.
It was into this community that Satoshi Nakamoto decided to release Bitcoin. The Dark Web is actually a subset of the Deep Web, and as such is not indexed by standard search engines. An attempt to make a computer or internet resource, such as a web site, unavailable to its intended users.
Usually the attacker will attempt to overload the systems resources. An algorithm for authenticating data. A type of hardware used for mining. It enables software developer to work together as a team remotely from anywhere in the world. Git is a free software distributed under the terms of 'GPL'.
See - Git 'GitHub' A web-based hosting service for projects that use the Git revision control system. A cryptographic software suite that incorporate both encryption and authentication. The most widely used software license, which guarantees end users the freedoms to use, study, copy, and modify the software. Can be used to play games or mine bitcoins.
An internet base text messaging chat system that is designed to enable groups of people to communicate in real-time. They are often used nefariously to gain access to secret information such as passwords. A software licence that is similar to GPL. The LGPL allows developers and companies to use and integrate LGPL software into their own even proprietary software without being required to release the source code of their own software-parts.
Lesser General Public License 'Merkle Tree' A data tree structure whose leafs contain the data and a hash is generated at each branch all the way down to the root. Changing the data at any leaf results in a change in the root hash.
It is a permissive free software license similar to GPL. An encryption system that provides both data security and authentication. A private key is a secret number that allows bitcoins to be spent. Because the private key is the "ticket" that allows someone to spend bitcoins, it is important that these are kept secure.
A cryptographic system that requires two keys. The public key is used to encrypt the data, and the private key is used to decrypt it. A network architecture where all nodes cooperate on an equal basis, as opposed to the client server model. Instead of lines a QR Code is a two dimensional array of squares. An algorithm that generates a hash when provided with input data.
The routeing mechanism used by 'Tor' is a 'Darknet'. See - The Tor Project 'Trojan Horse' A type of malware that masquerades as a legitimate file or helpful program but whose real purpose is, for example, to grant a hacker unauthorized access to a computer.
Trojan Horse 'UL' Upload. Other 'Laundry' See - 'Tumbler'. It would be a viable strategy except that you might have a long-enough losing streak that you can't afford the exponentially-increasing stakes.
An open source software application that allows users to issue and manipulate digital assets. Ayn Rand was a Russian-American novelist who developed a philosophical system she called Objectivism.
Objectivism promotes an idea called rational self-interest, it states that the proper moral purpose of one's life is the pursuit of one's own happiness. These new bitcoins cannot be traced back to the old ones through the blockchain except by the tumbler operator themselves. A time standard by which the world regulates its clocks, it is the same as Greenwich Mean Time.
As this is an international forum, dates and times should be expressed unambiguously. For example, the first block reward halving occurred on 28th Nov at If you have any comments, suggestions or requests then please post below. Want to know about the banking system scam? Hero Member Offline Activity: