New England New England 6 States Songs: https://www.reddit.com/newengland/comments/er8wxd/new_england_6_states_songs/ NewEnglandcoin Symbol: NENG NewEnglandcoin is a clone of Bitcoin using scrypt as a proof-of-work algorithm with enhanced features to protect against 51% attack and decentralize on mining to allow diversified mining rigs across CPUs, GPUs, ASICs and Android phones. Mining Algorithm: Scrypt with RandomSpike. RandomSpike is 3rd generation of Dynamic Difficulty (DynDiff) algorithm on top of scrypt. 1 minute block targets base difficulty reset: every 1440 blocks subsidy halves in 2.1m blocks (~ 2 to 4 years) 84,000,000,000 total maximum NENG 20000 NENG per block Pre-mine: 1% - reserved for dev fund ICO: None RPCPort: 6376 Port: 6377 NewEnglandcoin has dogecoin like supply at 84 billion maximum NENG. This huge supply insures that NENG is suitable for retail transactions and daily use. The inflation schedule of NengEnglandcoin is actually identical to that of Litecoin. Bitcoin and Litecoin are already proven to be great long term store of value. The Litecoin-like NENG inflation schedule will make NewEnglandcoin ideal for long term investment appreciation as the supply is limited and capped at a fixed number Bitcoin Fork - Suitable for Home Hobbyists NewEnglandcoin core wallet continues to maintain version tag of "Satoshi v0.8.7.5" because NewEnglandcoin is very much an exact clone of bitcoin plus some mining feature changes with DynDiff algorithm. NewEnglandcoin is very suitable as lite version of bitcoin for educational purpose on desktop mining, full node running and bitcoin programming using bitcoin-json APIs. The NewEnglandcoin (NENG) mining algorithm original upgrade ideas were mainly designed for decentralization of mining rigs on scrypt, which is same algo as litecoin/dogecoin. The way it is going now is that NENG is very suitable for bitcoin/litecoin/dogecoin hobbyists who can not , will not spend huge money to run noisy ASIC/GPU mining equipments, but still want to mine NENG at home with quiet simple CPU/GPU or with a cheap ASIC like FutureBit Moonlander 2 USB or Apollo pod on solo mining setup to obtain very decent profitable results. NENG allows bitcoin litecoin hobbyists to experience full node running, solo mining, CPU/GPU/ASIC for a fun experience at home at cheap cost without breaking bank on equipment or electricity. MIT Free Course - 23 lectures about Bitcoin, Blockchain and Finance (Fall,2018) https://www.youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6MYgVa04Fn CPU Minable Coin Because of dynamic difficulty algorithm on top of scrypt, NewEnglandcoin is CPU Minable. Users can easily set up full node for mining at Home PC or Mac using our dedicated cheetah software. Research on the first forked 50 blocks on v1.2.0 core confirmed that ASIC/GPU miners mined 66% of 50 blocks, CPU miners mined the remaining 34%. NENG v1.4.0 release enabled CPU mining inside android phones. Youtube Video Tutorial How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 1 https://www.youtube.com/watch?v=sdOoPvAjzlE How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 2 https://www.youtube.com/watch?v=nHnRJvJRzZg How to CPU Mine NewEnglandcoin (NENG) in macOS https://www.youtube.com/watch?v=Zj7NLMeNSOQ Decentralization and Community Driven NewEnglandcoin is a decentralized coin just like bitcoin. There is no boss on NewEnglandcoin. Nobody nor the dev owns NENG. We know a coin is worth nothing if there is no backing from community. Therefore, we as dev do not intend to make decision on this coin solely by ourselves. It is our expectation that NewEnglandcoin community will make majority of decisions on direction of this coin from now on. We as dev merely view our-self as coin creater and technical support of this coin while providing NENG a permanent home at ShorelineCrypto Exchange. Twitter Airdrop Follow NENG twitter and receive 100,000 NENG on Twitter Airdrop to up to 1000 winners Graphic Redesign Bounty Top one award: 90.9 million NENG Top 10 Winners: 500,000 NENG / person Event Timing: March 25, 2019 - Present Event Address: NewEnglandcoin DISCORD at: https://discord.gg/UPeBwgs Please complete above Twitter Bounty requirement first. Then follow Below Steps to qualify for the Bounty: (1) Required: submit your own designed NENG logo picture in gif, png jpg or any other common graphic file format into DISCORD "bounty-submission" board (2) Optional: submit a second graphic for logo or any other marketing purposes into "bounty-submission" board. (3) Complete below form. Please limit your submission to no more than two total. Delete any wrongly submitted or undesired graphics in the board. Contact DISCORD u/honglu69#5911 or u/krypton#6139 if you have any issues. Twitter Airdrop/Graphic Redesign bounty sign up: https://goo.gl/forms/L0vcwmVi8c76cR7m1 Milestones
Sep 3, 2018 - Genesis block was mined, NewEnglandcoin created
Sep 8, 2018 - github source uploaded, Window wallet development work started
Sep 11,2018 - Window Qt Graphic wallet completed
Sep 12,2018 - NewEnglandcoin Launched in both Bitcointalk forum and Marinecoin forum
Sep 14,2018 - NewEnglandcoin is listed at ShorelineCrypto Exchange
Sep 17,2018 - Block Explorer is up
Nov 23,2018 - New Source/Wallet Release v1.1.1 - Enabled Dynamic Addjustment on Mining Hashing Difficulty
Nov 28,2018 - NewEnglandcoin became CPU minable coin
Nov 30,2018 - First Retail Real Life usage for NewEnglandcoin Announced
Dec 28,2018 - Cheetah_Cpuminer under Linux is released
Dec 31,2018 - NENG Technical Whitepaper is released
Jan 2,2019 - Cheetah_Cpuminer under Windows is released
Jan 12,2019 - NENG v1.1.2 is released to support MacOS GUI CLI Wallet
Jan 13,2019 - Cheetah_CpuMiner under Mac is released
Feb 11,2019 - NewEnglandcoin v1.2.0 Released, Anti-51% Attack, Anti-instant Mining after Hard Fork
Mar 16,2019 - NewEnglandcoin v188.8.131.52 Released - Ubuntu 18.04 Wallet Binary Files
Apr 7, 2019 - NENG Report on Security, Decentralization, Valuation
Apr 21, 2019 - NENG Fiat Project is Launched by ShorelineCrypto
Sep 1, 2019 - Shoreline Tradingbot project is Launched by ShorelineCrypto
Dec 19, 2019 - Shoreline Tradingbot v1.0 is Released by ShorelineCrypto
Jan 30, 2020 - Scrypt RandomSpike - NENG v1.3.0 Hardfork Proposed
Feb 24, 2020 - Scrypt RandomSpike - NENG core v1.3.0 Released
Jun 19, 2020 - Linux scripts for Futurebit Moonlander2 USB ASIC on solo mining Released
Jul 15, 2020 - NENG v1.4.0 Released for Android Mining and Ubuntu 20.04 support
Jul 21, 2020 - NENG v184.108.40.206 Released for MacOS Wallet Upgrade with Catalina
Jul 30, 2020 - NENG v220.127.116.11 Released for Linux Wallet Upgrade with 8 Distros
Aug 11, 2020 - NENG v18.104.22.168 Released for Android arm64 Upgrade, Chromebook Support
Aug 30, 2020 - NENG v22.214.171.124 Released for Android/Chromebook with armhf, better hardware support
2018 Q3 - Birth of NewEnglandcoin, window/linux wallet - Done
2018 Q4 - Decentralization Phase I
Blockchain Upgrade - Dynamic hashing algorithm I - Done
Cheetah Version I- CPU Mining Automation Tool on Linux - Done
2019 Q1 - Decentralization Phase II
Cheetah Version II- CPU Mining Automation Tool on Window/Linux - Done
Blockchain Upgrade Dynamic hashing algorithm II - Done
2019 Q2 - Fiat Phase I
Assessment of Risk of 51% Attack on NENG - done
Launch of Fiat USD/NENG offering for U.S. residents - done
Initiation of Mobile Miner Project - Done
2019 Q3 - Shoreline Tradingbot, Mobile Project
Evaluation and planning of Mobile Miner Project - on Hold
Initiation of Trading Bot Project - Done
2019 Q4 - Shoreline Tradingbot
Shoreline tradingbot Release v1.0 - Done
2020 Q1 - Evaluate NENG core, Mobile Wallet Phase I
NENG core Decentralization Security Evaluation for v1.3.x - Done
Light Mobile Wallet Project Initiation, Evaluation
2020 Q2 - NENG Core, Mobile Wallet Phase II
NENG core Decentralization Security Hardfork on v1.3.x - Scrypt RandomSpike
Light Mobile Wallet Project Design, Coding
2020 Q3 - NENG core, NENG Mobile Wallet Phase II
Review on results of v1.3.x, NENG core Dev Decision on v1.4.x, Hardfork If needed
Light Mobile Wallet Project testing, alpha Release
2020 Q4 - Mobile Wallet Phase III
Light Mobile Wallet Project Beta Release
Light Mobile Wallet Server Deployment Evaluation and Decision
Antminer T19 May Not Affect Bitcoin Hash Rate but Keeps Bitmain Ahead
The Antminer T19 by Bitmain may not have a big impact on the Bitcoin network, and it comes out amid the firm’s internal and post-halving uncertainty. Earlier this week, Chinese mining-hardware juggernaut Bitmain unveiled its new product, an application-specific integrated circuit called Antminer T19. The Bitcoin (BTC) mining unit is the latest to join the new generation of ASICs — state-of-the-art devices designed to mitigate increased mining difficulty by maximizing the terahashes-per-second output. The Antminer T19 announcement comes amid the post-halving uncertainty and follows the company’s recent problems with its S17 units. So, can this new machine help Bitmain to reinforce its somewhat hobbled position in the mining sector? T19: The cheaper S19 According to the official announcement, the Antminer T19 features a mining speed of 84 TH/s and a power efficiency of 37.5 joules per TH. The chips used in the new device are the same as those equipped in the Antminer S19 and S19 Pro, though it uses the new APW12 version of the power supply system that allows the device to start up faster. Bitmain usually markets its Antminer T devices as the most cost-effective ones, while the S-series models are presented as the top of the line in terms of productivity for their respective generation, Johnson Xu — the head of research and analytics at Tokensight — explained to Cointelegraph. According to data from F2Pool, one of the largest Bitcoin mining pools, Antminer T19s can generate $3.97 of profit each day, while Antminer S19s and Antminer S19 Pros can earn $4.86 and $6.24, respectively, based on an average electricity cost of $0.05 per kilowatt-hour. Antminer T19s, which consume 3,150 watts, are being sold for $1,749 per unit. Antminer S19 machines, on the other hand, cost $1,785 and consume 3,250 watts. Antminer S19 Pro devices, the most efficient of three, are considerably more expensive and go for $2,407. The reason Bitmain is producing another model for the 19 series is due to what is known as "binning" chips, Marc Fresa — the founder of mining firmware company Asic.to — explained to Cointelegraph: “When chips are designed they are meant to achieve specific performance levels. Chips that fail to hit their target numbers, such as not achieving the power standards or their thermal output, are often ‘Binned.’ Instead of throwing these chips in the garbage bin, these chips are resold into another unit with a lower performance level. In the case of Bitmain S19 chips that don’t make the cutoff are then sold in the T19 for cheaper since they do not perform as well as the counterpart.” The rollout of a new model “has nothing to do with the fact that machines are not selling well,” Fresa went on to argue, citing the post-halving uncertainty: “The biggest reason machines probably are not selling as well as manufacturers would like is because we are on a bit of a tipping point; The halving just happened, the price can go anyway and the difficulty is continuing to drop.” Product diversification is a common strategy for mining hardware producers, given that customers tend to aim for different specifications, Kristy-Leigh Minehan, a consultant and the former chief technology officer of Genesis Mining, told Cointelegraph: “ASICs don’t really allow for one model as consumers expect a certain performance level from a machine, and unfortunately silicon is not a perfect process — many times you’ll get a batch that performs better or worse than projected due to the nature of the materials. Thus, you end up with 5–10 different model numbers.” It is not yet clear how efficient the 19-series devices are because they have not shipped at scale, as Leo Zhang, the founder of Anicca Research, summed up in a conversation with Cointelegraph. The first batch of S19 units reportedly shipped out around May 12, while the T19 shipments will start between June 21 and June 30. It is also worth noting that, at this time, Bitmain only sells up to two T19 miners per user “to prevent hoarding.” Hardware problems and competitors The latest generation of Bitmain ASICs follows the release of the S17 units, which have received mostly mixed-to-negative reviews in the community. In early May, Arseniy Grusha, the co-founder of crypto consulting and mining firm Wattum, created a Telegram group for consumers unsatisfied with the S17 units they purchased from Bitmain. As Grusha explained to Cointelegraph at the time, out of the 420 Antminer S17+ devices his company bought, roughly 30%, or around 130 machines, turned out to be bad units. Similarly, Samson Mow, the chief strategy officer of blockchain infrastructure firm Blockstream, tweeted earlier in April that Bitmain customers have a 20%–30% failure rate with Antminer S17 and T17 units. “The Antminer 17 series is generally considered not great,” added Zhang. He additionally noted that Chinese hardware company and competitor Micro BT has been stepping on Bitmain’s toes lately with the release of its highly productive M30 series, which prompted Bitmain to step up its efforts: “Whatsminer gained significant market share in the past two years. According to their COO, in 2019 MicroBT sold ~35% of the network hashrate. Needless to say Bitmain is under a lot of pressure both from competitors and internal politics. They have been working on the 19 series for a while. The specs and price look very attractive.” Minehan confirmed that MicroBT has been gaining traction on the market, but refrained from saying that Bitmain is losing market share as a result: “I think MicroBT is offering option and bringing in new participants, and giving farms a choice. Most farms will have both Bitmain and MicroBT side by side, rather than exclusively host one manufacturer.” “I would say that MicroBT has taken up the existing market share that Canaan has left,” she added, referring to another China-based mining player that recently reported a net loss of $5.6 million in the first quarter of 2020 and cut the price of its mining hardware by up to 50%. Indeed, some large-scale operations seem to be diversifying their equipment with MicroBT units. Earlier this week, United States mining firm Marathon Patent Group announced that it had installed 700 Whatsminer M30S+ ASICs produced by MicroBT. However, it is also reportedly waiting for a delivery of 1,160 Antminer S19 Pro units produced by Bitmain, meaning that it also remains loyal to the current market leader. Will the hash rate be affected? Bitcoin’s hash rate plummeted 30% soon after the halving occurred as much of the older generation equipment became unprofitable due to the increased mining difficulty. That spurred miners to reshuffle, upgrading their current rigs and selling older machines to places where electricity is cheaper — meaning that some of them had to temporarily unplug. The situation has stabilized since, with the hash rate fluctuating around 100 TH/s for the past few days. Some experts attribute that to the start of the wet season in Sichuan, a southwest Chinese province where miners take advantage of low hydroelectricity prices between May and October. The arrival of the new generation of ASICs is expected to drive the hash rate even higher, at least once upgraded units become widely available. So, will the newly revealed T19 model make any impact on the state of the network? Experts agree that it won’t affect the hash rate to a major degree, as it’s a lower output model compared with the S19 series and MicroBT’s M30 series. Minehan said she doesn’t expect the T19 model “to have a huge impact that’s an immediate cause of concern,” as “most likely this is a run of <3500 units of a particular bin quality.” Similarly, Mark D’Aria, the CEO of crypto consulting firm Bitpro, told Cointelegraph: “There isn’t a strong reason to expect the new model to significantly affect the hashrate. It might be a slightly more compelling option to a miner with extraordinarily inexpensive electricity, but otherwise they likely would have just purchased an S19 instead.” Bitmain continues to hold leadership despite internal struggle At the end of the day, manufacturers are always in an arms race, and mining machines are simply commodity products, Zhang argued in a conversation with Cointelegraph: “Besides price, performance, and failure rate, there are not many factors that can help a manufacturer differentiate from the others. The relentless competition led to where we are today.” According to Zhang, as the iteration rate naturally slows down in the future, there will be more facilities using “creative thermal design such as immersion cooling,” hoping to maximize the mining efficiency beyond just using most powerful machines. As for now, Bitmain remains the leader of the mining race, despite having to deal with the largely defunct 17 series and an intensifying power struggle between its two co-founders, Jihan Wu and Micree Zhan, which recently resulted in reports of a street brawl. “Due to its recent internal issues, Bitmain is facing challenges to keep its strong position in the future thus they started to look at other things to expand its industry influences,” Xu told Cointelegraph. He added that Bitmain “will still dominate the industry position in the near future due to its network effect,” although its current problems might allow competitors such as MicroBT to catch up. Earlier this week, the power struggle inside Bitmain intensified even further as Micree Zhan, an ousted executive of the mining titan, reportedly led a group of private guards to overtake the company’s office in Beijing. Meanwhile, Bitmain continues to expand its operations. Last week, the mining company revealed it was extending its “Ant Training Academy” certification program to North America, with the first courses set to launch in the fall. As such, Bitmain seems to be doubling down on the U.S.-based mining sector, which has been growing recently. The Beijing-based company already operates what it classifies as “the world’s largest” mining facility in Rockdale, Texas, which has a planned capacity of 50 megawatts that can later be expanded to 300 megawatts.
You made it! :) First up, SORRY! This has been a late post, I have my reasons don't question them (if you must know I'll be posting in the discord - one time only haha). Secondly, I am sure you can agree with me when I say "Wow!" What an incredible week it has been. Last week I thought it was going to take a couple more weeks for more moving price action when it had only taken a few days which has seen Bitcoin reach and pass the $10,000 region. We have also seen the total Market cap for cryptocurrencies increase from about 280B to over 300B (308B at time of writing) within just a few days. A huge injection of liquidity, about 40B, into the market and just to name a few of the best rises in the top 20 (on Coinmarketcap.com), the price of ETH BTC ADA have given good performances/positive responses (With this I will start adding screenshots at the end of each week for timestamp purposes). This may be a combination from Binance, Mastercard, Paypal, Grayscale investments, VISA AND the DEFI sector. Let me explain... Last week we read about Binance integrating with the company Swipe (SXP) to issue there own debit card expanding the use and reach of cryptocurrency to 31 countries within Europe. Binance's Q2 scheduled token burn of $60.5 Million, this figure correlates with its exchange, margin and futures trading platforms where approximately 20% of profits get burned to increase the price of BNB token (careful as the price has been steady after the burn). This week we find out Mastercard's expansion into the Cryptosphere as they expand and integrate with the Wirex team to issue a Mastercard-backed Bitcoin debit card, thus further extending the reach of cryptocurrency availability internationally. "The cryptocurrency market continues to mature and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy " "...Our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay" Mastercard is also reaching out to other emerging cryptocurrency firms to apply to become principal members [Partners] with Mastercard as they have relaxed their digital assets program and look to expand into the Digital Assets and Blockchain environment. Paypals expression of interest in cryptocurrency facilitiation may bear fruits as it is said Paypal has partnered up with stablecoin operator Paxos (who is already in partnership with Revolut in the US) to facilitate trading through a cryptocurrency brokerage which will enable other firms to integrate cryptocurrency trading functionalities with them. In my opinion this looks much more promising than the Libra association they pulled out from last October as regulations. Grayscale Investments clears regulatory hurdle as they have been given the green light for its Bitcoin Cash Trust (BCHG) and Litecoin Trust (LTCN) to be quoted in over-the-counter (OTC) markets by US Financial Industry Regulatory Authority (FINRA). “The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of the Trusts’ underlying assets through a traditional investment vehicle, avoiding the challenges of buying, storing, and safekeeping digital Bitcoin Cash or Litecoin directly.” More green lights for Cryptocurrency in the US as regulators allow banks to provide cryptocurrency custody services (which may go further than just custody services). A little bit strange as it seems unnecessary and undermines one of the key factors and uses of cryptocurrency which is to be in complete control of your own finances... On another outlook this may be bullish as it allows US banks to provide banking services directly to lawful cryptocurrency businesses and show support for Bitcoin. Visa shows support stating they have a roadmap for their further expansion into the Crypto sphere. Already working with Crypto platform Coinbase and Fold they have stated they recognise the role of digital assets in the future of money. To be frank, it appears to be focused on stable coins, cost effectiveness and transaction speeds. However they are expanding their support for crypto assets. AND MOST IMPORTANTLY, DeFI! Our very own growing section in crypto. Just like the 2017 ICO boom we are seeing exorbitant growth and FOMO into the Decentralised Finance sector (WBTC, Stablecoins, Yield farming, DEXs etc). The amount of active addresses on Ethereum has doubled but with the FOMO on their network have sky rocketed their fees! Large use-cases of stable coins such as USDT ($6B in circulation using ERC-20 standard), DAI, TUSD, and PAX. $114M Wrapped Bitcoin (WBTC) on their network acts as a fluid side chain for Bitcoin and DEX trade volume has touched $1.6B this month. With all this action happening on Ethereum I saw the 24HR volume surpass BTC briefly on Worldcoinindex.com In other news, Bitcoin has been set as a new precedent in a US federal court in a case against Larry Dean Harmon, the operator of an underground trading platform Helix. Bitcoin has now legally been ruled as a form of money. “After examination of the relevant statutes, case law, and other sources, the Court concludes that bitcoin is money under the MTA and that Helix, as described in the indictment, was an `unlicensed money transmitting business´ under applicable federal law.” Quick news in China/Asia as floods threaten miners and the most dominant ASIC Bitcoin mining rig manufacturer Bitmain loses 10,000 Antminers worth millions alledgedly goes missing or "illegally transfered" with ongoing leadership dispute between cofounders. Last but not least, Cardano (ADA) upgrade Shelley is ready to launch! Hardfork is initiated as final countdown clock is switched on. At time of writing the point of no return has been reached, stress tests done and confirmation Hardfork is coming 29/07 The Shelley Mainnet upgrade is a step toward fast, capable and decentralised crypto that can serve billions of people. With the Shelley Mainnet is ADA staking rewards and pools! Here is a chance for us Gravychainers to set up a small pool of our own. Small percentage of profits going into the development of the community, and you keep the rest! If you read all of my ramblings thanks heaps! I appreciate it! I have added an extra piece of reading called speculation. Most you can speculate on by just reading the headline some others have more depth to them. Another post next week for a weekly round up! Where do you think the market is going? What is in your portfolio? Let us know in the Gravychain Discord Channel See you soon!
🍕 Bring some virtual pizza to share 🍕 Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments! Big thanks to our Telegram and My Crypto HQ for the constant news updates!
P.S. Dr Seuss collectables on the blockchain HECK YEAH! and Bitcoin enters NASCAR, remember when Doge did this? it was like when Doge was trending on TikTok. ... Oh yeah did I also mention Steve Wozniak is suing Youtube, Google over rampant Bitcoin scams. Wait, what? Sydney based law firm JPB Liberty is suing Google, Facebook and Twitter for up to $300B. Just another day in the Cryptosphere.
This wipe I have progressed more than I have in past wipes, and I think a lot of it has to do with my play-style changing. I know I am still nowhere near as stacked stash wish or stats wise than a lot of players, but thought I might share some hints and tips for new players that have been helpful for me. I play mainly duos, sometimes trios with a couple of mates. My play style is relatively quiet (i.e. little sprinting, lots of pausing walking to listen) until I engage the enemy, then as much aggressive flanking and pushing as possible. So you can see where I currently am this wipe my stash and play stats are here (it's zoomable). TLDR - 41% Survival rate, 120mil stash value, 5.77 KDR. So onto the tips: 1) Optimise what you bring out of raids:
I almost never bring armourigs that I have looted out of raids in a backpack, although I might drop my armour to wear a level 5 or 6 armour off someone I have killed if it is high durability and I didn't shred it.
Make sure your bag is always full (but you're below ~50kg if possible). Pick up any loot at the start of the raid, but put the low value stuff at the top of your bag, **then as you find more valuable items to loot drop the less valuable items to make room.**For me the best example of this is weapons. I will almost never end up bringing a full weapon out of a raid in my bag, instead I'll strip off the valuable parts and dump the weapon carcass, however if I don't find anything valuable to replace the weapon itself then best to take it for that extra few tens of thousands roubles.
Over time you'll learn the value of items commonly found in raid, a sugar is worth quite a bit more than a CPU for example (around four times the value), but it can take a while to learn this.
2) Run. Good. Ammo
It might cost a lot, but I would rather run an unmodded gun than run subpar ammo at this stage in the wipe. Everyone and their mam are wearing class 5 or 6 armour and you simply won't kill them with shitty ammo.If you are too poor for good ammo, then run Reserve for all your scav runs. There is enough BT/BS 5.45x39 sitting around on the map to fill a backpack with, and you can quickly stock up with it in your stash.
I mainly run M995, M61 and BS, but you can get away with M855A1, M856A1, M62 and BT/7N39 if you want to go a little cheaper.
3) Keep what you loot in raid
I know stash size is an issue, especially for Standard Edition players at the start of a wipe. However, the more you sell and then to re-buy the more money you are wasting. Keep weapon parts you use, keep food and drink, keep meds, keep helmets and armour you use. Prioritise buying cases to hold all of this. If you do this you'll find that quickly you can start running raids and only needing to buy one or two things. It really keeps the cost down.
4) Run gear appropriate to your stash
Have a budget, intermediate and chad loadout and stick to them if you can, mine are below (but for those with lower stash size I would adjust them down in cost:
My budget kit - Trooper armour, ACHHC helmet, blackrock rig, P90, one grenade, meds
My intermediate kit - AACPC rig, Fast MT helmet, M4A1 with silencer and valday scope, three grenades, meds
My chad kit - Slick plate carrier, Altyn, silenced HK/M1A/M4A1 with REAP-Iside-mounted PK-06, six grenades, meds (including injectors [adrenaline, ETG, propital])
If you have a low stash I would run a hunter with 10 round mags (M61 for first mag or two then M62), headset, level 3/4 armour, face cover but no helmet, berkut backpack.
5)Make the most of your hideout
Upgrading the hideout can make you a lot of roubles.
The bitcoin farm is a gamechanger, but the mag case craft in the toilet and the ammo crafting are also good money makers. The Scav case can also make you dosh.
6)Once you have engaged an enemy play aggressively
This doesn't mean run head on towards them.
Instead it can be very effective to re-position fast and engage from a different direction.
Don't hold the expected angles, a substantial and rapid flank can really surprise the hostile(s), especially if you are continually moving after each trade of fire.
Re-peaking the same angle is sub-optimal unless you have no other choice. If you don't have a choice then use grenades to force the enemy into cover whilst you push.
7) Sound is your friend
Obviously sound gives you a lot of clues as to where the hostiles are, what gun they are running, whether they are geared (for example, lots of grenades going off likely means there is either a boss scav, or the hostile PMCs in that direction are geared
Stop walking every so often to listen, your footsteps cover other sounds, so pausing (in cover) can give you an idea if anyone is close to you.
Don't sprint until you're engaging the enemy. The sound of sprinting carries a long way and will let everyone know where you are, use it to flank and cover open ground, but don't use it if you can avoid it.
Pick your route carefully looking at the ground. There may be wood or metal items on the ground that will make a lot of sound, avoid them if possible.
8) When poor, scav in
Self explanatory, but when you don't have roubles then scav in. You can get enough for two or three low budget PMC runs from one good scav run. I prefer reserve or interchange to scav into, as there can be a lot of valuable items left around and you can easily have 300-700k scav run.
9) Complete quests
The quests are the fastest way to level, and really help you make money. They also help you learn maps. Do them as fast as you can to level up rapidly. If you are having difficultly with a quest then run it at night time (close to dawn or dusk is good as it will be light enough to see without NVGs).
10) Don't be afraid to use gear
Survival rates tend to rise as you use better gear. That barrage of shots that would have mowed you down as a hunterling may just bounce off your level 5 rig.
If you are broke and find decent gear in raid don't stash it away and never use it, either sell it or give it a run and see how it goes.
11) Play with others
Find a few buddies on the unofficial discord (in the sidebar I think) and stick playing with them, learn how to complement each others' play styles and you'll quickly find more success in game.
This is a hard game solo. It's fine once you have some experience and you can definitely succeed at it, but for someone who is on their first wipe I wouldn't recommend it.
I hope these tips help at least one person! Happy to expand on any of them if anyone has questions....
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Ammo is the most important thing for combat in this game. I don't think I put enough emphasis on this in the previous guide. How do you kill high tier geared players? Good ammo. Low gear? Good ammo. Spend your money here, not on gear or weapon mods. Best example I have is literally my last raid. I got one tapped by a mosin in a full tier 5 setup at full health. Vader helm, Killa armor, silenced M4 build totaling around a mil with ammo and mods. Missed his first shot, I located him, dead to one shot in the thorax. Good ammo trumps all. Here is the best ammo of each type for commonly used guns: 556: M855A1 < M856A1 << M995 545: BT << BS < 7N39 762: BP 12x70: Flechette < AP-20 762x51: M80 << M62 < M61 762x54: 7N1 < SNB < 7N37 9x39: SP6 < SPP < BP 9x19: AP 6.3
On that same note, take grenades into raids. Grenades are very powerful in tarkov. If someone is in range (which is significantly bigger than other games) they will die. A hatchling with a nade and some luck can take down the most geared players in the game. I would highly recommend at least putting one in your pouch for over geared/room clearing purposes.
Quick Hideout Note (thinking about doing a passive income and usual profitable crafting guide): rush for the intel center, the discounts of trades and scav run reduction are huge. Then crafting table, library, and air filtration are all useful. I get about 500k-700k in passive income per day from the hideout by just logging in a couple times. The scav box is absolutely worth it, the 6k rouble option consistently nets me 15-20k (up to 100k+). Bitcoin farm is maybe worth it? Its a big profit per day, mines already paid off, but takes 1-2 months to return its value at current prices. Best crafts are Ifaks at the med, m995 and other ammo at the bench, sugacondensed milk at the fridge, pure water at the filtration all depending on price of ingredients which fluctuate a lot.
Check out the youtube community for loot runs, quest guides, and everything else. Tarkov is a very hard to game explain in a written or word of mouth guide. For specifics, see videos.
Finally, have a plan before you raid. At least know the extracts and your objective (money run, quest, killin dudes) and exactly where those are for the map you're running.
TLDR: Shoreline for money, Interchange for consistency, Customs for quests, Factory/Labs for fights.I did a brief overview on money runs on various maps in my previous guide, but wanted to update those maps in light of recent changes to spawns and my experiences over the past month or so testing all the maps out. In profitability order: Shoreline - With the new addition of 6-8 LedX spawns, shoreline has become king for money. It takes the high reward possibility of Labs and mixes it with the consistent loot value of Interchange with the only draw back being the need for keys, which I purchased for around 3-4 mil for all good loot rooms ( 15 keys in total). This is a steep investment, but it is a one time cost, and completely worth it. You can expect an LedX about 1/7 raids clearing most LedX rooms. I got 5/36 shoreline runs, clearing most rooms about 2/3rds of the time, dying or being beaten to the rooms in the other 1/3. Unlike labs, however, these are just the cherry on top of consistently amazing loot in the rooms with easy extracts to boot. The big draw back is popularity, I run into at least 2-3 PMCs at the resort, usually 4-5 with a duo or squad tossed in the mix. They're usually tier 3-4 geared (I go tier 5 but don't recommend that unless you're good with losing a mil to a lucky mosin shot) and have a bad habit of hiding in rooms and ambushing. Interchange - For consistent mid value barter items, Interchange is your map. Nothing has changed from my original assessment, tldr version being run Oli shelves and the 3 tech stores next to it for about 500k-1 mil per extract, assuming you bring a decent bag and rig. This map has dropped in popularity with the Shoreline buff, but be on the look out for tier 5 geared PMCs doing their 100 Killa kills grind and the ever present extract campers. Reserve - This map still has great high value drops, less frequent than Interchange but with higher average value and requiring less keys than Shoreline. The massive drawback here is extract difficulty. If you can afford it, para-cord with the ice-pick for the repel extract is recommended as you just have to ditch/bag chest armor and you're out. Losing a bag for the manhole has required many a painful pick and chose for me recently and the door just isn't consistent, sometimes the button will be pressed but its still locked, other times its just open. Its a fun PvP map, but for money its just not beating the two above. Customs - This map just really isn't for money, its for quests. But with the addition of the new stashes spread throughout the map you can make decent money whilst running the quests. See my past guide/the link below for stash runs. Factory - Wait, Factory over Labs? Customs over Labs? Yes, I'm getting to that. So why Factory? Because quick, hit and run style or longer scav pileup at a choke-point style runs can net you tons of experience along with a big stack of weapons and decent loot from scav pockets. Solos try the upper hallway office/breakable door, the bottom pipeline hallway curve, or extract choke-point. Duos and squads can hold down the shower doors with ease. Labs - People who have read my previous guide might be surprise this is last. The issue with labs is its completely dependent on high level item spawn rates. Labs is my favorite map, I could write a lengthy separate post about everything labs. At the beginning of the wipe, labs was ludicrously OP. You could spawn in and expect a 1/3 chance of an LedX (2.5 mil at the time) along with 2-3 other 400k+ items spawning in each raid. This resulted in 10's of millions in profit. Then they released Shoreline LedX spawns and turned off labs LedX. The barrel spawn was completely dead (50+ runs and nothing) and the two other (at the time) known locations had maybe a 1/25 rate. You could expect maybe 1-2 other drops per raid and it was now crowded with PMCs. It was difficult to turn a profit doing geared runs, and I lost millions. Today its slightly better, there are 3 new LedX spawns and the barrel spawn has a 1/7-10 (still testing) rate but everything has plummeted in price (VPX is less than 200k now) and you can expect 3-6 tier 5 geared PMCs plus raiders to be skulking around. Great for fights, terrible for money. Though extracting will often bring huge rewards in gear alone in current state. ... - Feel like I'm forgetting one... Hmm... Nah they wouldn't put a thermal ridden snipe happy map in the game with no loot spawns and lots of annoying quests. (Don't @ me Woods fans)
TLDR: Highest level armor not worth, high level ammo makes everything vulnerable. Not doing the same tiers (see previous guide) but the actual armor level itself. For actual setups with armoweapons see my previous guide.
Level 1: Examples:3M body armor, tank helmetIs it worth: No. Its not worth it. Ever. The speed/sound debuffs alone make it not worth it because it doesn't stop anything besides terrible pistol ammo. This should be obvious but I see new players wearing it. Don't bother guys. Sell this on the flea.
Level 2:Examples:PACA/6b2 armor, Kolpac/SHPM/Djeta helmsIs it worth: No for all the helmets due to sound debuff, but kinda if you're really broke for the armor. Level 2 armor is effective against scavs and pistolings. It'll stop you from getting one shot from distance by a crappy shotgun or pistol and is extremely cheap. I'd mark this as the minimum armor on a budget.
Level 3:Recommendations:UNTAPRESS/6B23-1/Kirasa armor,SSH68/LZsh with face/Kiver with face helmsIs it worth: Yes. The chest armor should be the standard for every raid. Its still really cheap but will actually stop most low/mid tier rounds. This makes you much more effective against scavs and low-mid gear PMCs. The SSH68 helm is dirt cheap and should be worn for every raid as a minimum. The other two helmets for tier 3+ load outs. Kiver for no headset, LZsh for use with headset, both with the faceshield.
Level 4:Recommendations:6B13/6B23-2/6B3/6B5 armovests,Zsh-1-2 with face shield/BNTI LSHZ with neck cover and face shieldIs it worth: Armor: Kinda, if you have the money to get it fresh or are questing/fighting focused in raids. The main problem with level 4 armor is its lack of health overall and repair ability (essentially can only be used for 1-2 raids before replacing). It also is mostly to increase coverage on mid tier (5.45 BP/BT for example) ammo but does nothing against high tier ammo, so it doesn't offer much more for the price than level 3. If you have the money, however, it will increase survival rates. Helmets: Yes, once you have the black skier variant unlocked for the Zsh-1, and only with tier 5+ gear for the BNTI. The Zsh-1 helmet will become you're go to for tier 3+ armor the instant you unlock it. Its only 5k roubles more expensive with faceshield than the Kiver but provides level 4 protection on head and ears with level 3 for the face. The BNTI or Vader helmet provides a level 4 faceshield and nape cover, giving you full coverage of level 4 armor over all vital areas. This is better than the Fast-MT (most of who's parts only give level 2-3 protection) and the best helm in the game imo due to it not limiting your vision.
Level 5:Recommendations:Killa 6B13 Assault/Gen4/Redut-M armor, Alytn with face shieldIs it worth: Sometimes, but mostly no. I say this as someone who runs level 5 armor 50+% of my raids. But this is only because after awhile the cost stops mattering to you and it makes raids more interesting to be risking more and getting to challenge anything you come across. The main issue is its extreme expense and the ability to be easily killed by inexpensive weapons with high tier ammo. Killa armor + the Vader helm is, in my opinion, the best armor setup in the game due to having full visibility and high movement speed with coverage on all vital parts. But the amount of times that I've dropped the 400-500k on this armor only to die in one shot to a mosling or hunterling with high level ammo is ridiculous. Yes, this armor makes you immune to anyone with low/mid tier ammo, but high tier ammo, available to everyone through the flea market, cuts right through.
Level 6:Examples:Zhuk-6a, 6B34 "Fort" armor, Vulkan with faceshield helmIs it worth: No. This armor is the only in the game that will reliably take a few shots from the best ammo in the game, listed above. So why is it bad? First off, it has huge penalties. You are slow and bulky and loud. Second, unless you open up a hole in the armor with no face plate/level 3/4 face plates (making you not tanky), you have restricted vision. Its like being a world war era tank. Hard to kill, sure. But if they brought the right ammo for the job they can run circles around you and blast your blind/slow butt until you drop. Third, its very expensive. Zhuk-6a is the only possible option here really for price and penalties, but its also ceramic. If you're going to go tier 5, I recommend Killa armor.
Does this mean you should never run good armor? No. What it means is you should be aware you are likely losing value/money by doing so at higher tiers. Better armor will help you survive more raids, help with quests, and is a sign of being a more established player. But you are trading a LOT more money for smaller advantages in return, making it hard to recommend the more expensive armors in the game to anyone who can't handle multiple instant deaths in a row losing 500k-1mil.
Ok so basically my question is this: How do you build the most efficient Bitcoin mining rig with 100k USD? I've been trying to do some research but I really want some info from people who have/have had mining rigs in the past. I wanna know what are some potential issues that could arise? I want to know if it's most cost effective to buy a bunch of GPU's and set them up with some mining motherboards or is it better to buy a pre-built machine like the AntMiners? If I'm building a rig for 100k and plan to pay for electricity using the bitcoin mined each month then how much money do I need to have as backup to make sure I can pay for electricity if BTC price drops significantly? Just anything useful that someone who plans to build a rig should account for. Also: Yes I acknowledge that BTC is very unstable and that even though mining right now (for 10K/BTC) is profitable it could be the case that later on I'm mining in the negative for several months or years. Thanks.
I’ve often wondered if there was anything else I could’ve said to change his mind. That happens with any unsettled argument though I suppose. People always imagine there’s an elusive combination of words and rationales that will open a person’s mind to our way of thinking. Except people are stubborn that’s for sure. Myself included. So I’m sure you’d say the real problem was that I wasn’t open enough to his way of thinking. You’d say if I opened my mental door a bit, been more charitable to his point of view, he would’ve responded in kind and I would’ve saved him. Which is wrong. Just as likely perhaps, if not more likely, I would’ve been ensnared by the same delusion which sealed his, well, I’d never call it fate. But I know you’d claim everything was inevitable all the same. Let’s get one thing out of the way. Yes, I was Roman Peters’ friend. In fact, I was probably his only friend. His only real friend anyway. Although, I should clarify since my wording isn’t at all clear, that I most certainly was not Roman’s friend when he died. Roman and I had stopped being friends long before his rather public suicide. We had our falling out before his… fall. Yes, I’ve seen the video. No, I won’t be sharing the link. Nobody should watch it. Hell, if those hosting the servers had a modicum of respect or even a shred of sense they’d take down that awful video immediately. Just get rid of it. Already I can now hear your loud complaints about ‘censorship’ and ‘free speech’. Which is fair. People have a right to know. However I can’t help but feel… I don’t know. It seems as though the ideas people prioritize no longer has anything to do with the ideas themselves. Instead importance is based on who opposes what. Ideas now are little more than mental parasites that feed on blood boiling outrage. The more toxic and viral an idea the more broadly it spreads. Again, I don’t know. Maybe the flame of human enlightenment was always destined to be either smothered by tyranny or choke itself out on its own smoke after sucking out all the air. Yes yes. I know what you have to say about the inevitable. Anyway, me shoving my head up my own pretentious ass isn’t convincing you of anything so we should instead go back to Roman. We met back in early elementary school. Specifically the Catholic school of Father Lloyd Van Tiem, or Flivit if you wanted to annoy the teachers by slurring the acronym. What you need to understand is that I can’t really remember how Roman and I became friends to begin with. We were too young for the pertinent details to stick. I’d imagine it was the same generic way everyone develops friends at that age though, just a standard confluence of common interests, general proximity, and plain luck. Inevitable, as you’d say. Still, there was one moment of our early friendship that I reflect on often. See, instead of being your standard dinosaur obsessed kid I was a bright eyed Egyptology child. Mummies and pyramids captured my imagination more than T-rexs and velociraptors. Ancient Egypt appealed to me the way I figure the mythic civilizations of Tolkien or Martin might appeal to others. This extended to the Egyptian religious pantheon, many I can still name off the top of my head, like Ra, Bastet, Osiris, Sobek, Horus, Thoth, Isis, Anubis, Maat, and also the lesser goddess Ammut but I’ll come back to her later. I think I’d just turned 10 when on particular slow school day — remember Catholic school — our teacher, not wanting to put too much effort in before the Easter long weekend, threw on the animated movie: The Prince of Egypt. Now, I knew it was about the story of Moses freeing the Hebrews from Egypt, so I expected the Egyptians were going to rightly be portrayed poorly. What I didn’t expect was the reaction of my classmates. Part way through the song ‘Playing with the Big Boys,’ the song where the dumb priests use smoke and mirrors to dismiss Moses’ calls for freedom, around then is when I first noticed the glances and occasional snickering. Apparently the chorus of the evil priests listing the names of the Egyptian gods reminded the class of me. At school, I was rather vocal about my passion for all things Egyptian. Why wouldn’t I be? I was a kid who liked talking about what I liked. Regardless, I became a pariah after that. Not immediately, but slowly everyone I previously considered my friend just plain stopped being friends with me. They’d treat me like a third wheel, never invite me to anything, even ditch me at recess if I tried to follow them. Except Roman stuck by me as I drifted further into social irrelevance. A bit of a loner himself, I think he saw in me an oddball like himself. He was always there. He was always willing to hang out. He always listened to what I had to say. I felt we could talk about anything, in a way I could never talk to my parents or teachers or anyone really. As close as I thought we were, it wasn’t until middle school that it sunk in how much of an ardent atheist Roman was. He probably kept that pretty quiet going to a religious school. Hold on. Let me just explain something first. Most people avoid discussing religiosity and ideas about god, (or capital ‘G’ God as I had been taught in religious studies). It’s one of those things that people learn not to talk about. But unlike money and politics, religion is too close to that other taboo we learn never to discuss: death. You undoubtedly prefer this silence. Which is why I refuse to be silent. Our class had been taken to church for some ceremony, at the end of grade eight, I forget exactly which one, it might have been Ash Wednesday but I think that would’ve been too solemn and I remember it being a rather boisterous affair. Whatever ritual it was, it had more than just our school in attendance, as I think parents and other members of the community were there as well. On the stage or pulpit, there was a soft-rock band with members ranging from late twenties or early thirties, the lead singer, a mop of molasses coloured hair over a plain crew neck T, was singing a song about how god and they love us all. I remember thinking it was a sweet sentiment, even if the underlying spiritual message felt uncompelling to my teenage self. The music was fine, the crowd seemed to like it, the worst I would have said was that the performance was inoffensive and benign. Which is hardly much of a critique. Except Roman, in his ill-fitting sport coat and smiley face graphic-T, smirked remarking, “Oh boy, a budget rock show where the singer says they love me? Oh lawd, I’m really feelin’ the Jesus now.” I burst out laughing far louder than the wry joke called for. Luckily with the music blaring, the teachers wouldn’t be lecturing me on my disrespect, as only Roman could see my gut busting delight. That’s it. That’s all it took was that simple comment. After that, I couldn’t help but see the tacky spectacle of it all. How forced and contrived it was, how it mostly just seemed like people were there because of obligation. After all, I was only there because the school made us go. It couldn’t have been much different for everyone else. I’ve been thinking about that moment more often lately. Did his small remark really change my mind and entire world view? Or was my mind fertile ground for the seed of that idea to take root and grow? Or I’d already believed what I believed and Roman just articulated it in a way that I hadn’t. Or most troubling of all, what if I didn’t really believe in anything and my mind conformed to the words of my one and only friend. When with Roman, do as the Roman does. After that, I followed him eagerly into the land of Hitchens, Dawkins, and Harris. Borrowing his books, I started learning everything there was to know about theological philosophy that the teachers at our religious school either refused to tell us or were incapable of discussing themselves. Together, we’d share our thoughts on the bloody history of religions, the Problem of Evil, and how you could never prove a negative like god doesn’t exist. Likewise we’d take turns picking apart the fallacies of Pascal’s Wager, the Ontological Argument, and the Argument of Design. Those were some of my best memories with Roman. Drinking pop from the fridge in my garage, eating the weird pizzas we’d order from Mad Mike’s pizza aroud the block, playing Halo on the couch and big screen, and all the while talking like were the smartest guys in the world. As we left our Catholic elementary and middle schools behind, we entered Catholic High School. I finally started making other friends. A handful of other geeky nerdy guys. They were more interested in pizza and gaming than anything religion though. Roman seemed indifferent to my new friends. He was far more preoccupied fighting with Mr. Bauer, the school’s most openly devout teacher. My feelings toward Christianity hadn’t yet softened but Roman’s were clearly becoming more militant. From the safety of my conflict-averse sidelines, I secretly cheered Roman on whenever Mr. Bauer crossed a line. See, Mr. Bauer was a real piece of work. He seemed pleasant and cheery enough, pastel shirts, clean white trainers, a big white smile and perpetually soft spoken, but eventually without fail his bigotry would expose itself. Before any class Mr. Bauer would teach, he’d lead the class in prayer. Normally they were generic and unremarkable. Every so often though his prayers would go beyond the usual, “Thank you God for this beautiful day.” With a gentle smile, at least once a week his prayers were something to the effect of, “Help guide my students away from lives of sin.” Or “Give us the strength to resist our carnal temptation.” Whenever he prayed like this there was a fifty-fifty chance Mr. Bauer would elaborate on what exactly he meant by ‘life of sin’ or ‘carnal temptation.’ It could range from the condescending, “Help the girls find husbands to protect them from the unmarried lifestyle,” and “Give the boys hobbies to stop their idle urge for masturbation.” (By the way, in the three years I listened to him, Boys never needed protection from the unmarried lifestyle and girls simply didn’t possess the idle urge for masturbation.) And he could go way up past condescending to the outright hateful. “Please open those of misguided faith to the one true path to Heaven through you, Jesus Christ,” he’d say obliquely when Hussein was attending class. He was more direct with Melissa, “And save Melissa from any perversion of your sanctioned union. Bless her with God’s holy covenant between man and woman so as to rescue her soul from homosexuality.” Hussein and Melissa would usually try their best to ignore Mr. Bauer. It was Roman who retaliated. “How did god rescue you from homosexuality?” There was a few scattered snickers from the class. Mr. Bauer, oblivious to what Roman was trying to do, answered sincerely, “Why… God sent me my wonderful wife of course.” “Well its a good thing god sent her he did, otherwise who knows what might have happened. You might have knob-gobbled a guy if it weren’t for that.” There was more barely contained chuckling. “I…” Mr. Bauer wasn’t sure what to say, “I suppose that’s one way to frame it.” “Yeah, like if your wife hadn’t straightened you out, why, two dudes with big oily muscles might be sword fighting in your mouth right now while a third drills you from behind.” The laughs were spilling freely now, myself included. “Can you imagine that? I mean seriously, are you imagining that right now?” Mr. Bauer would then have to deal with the chorus of laughter. “Alright alright. Settle down. We’re getting off track here. Moving on.” By then of course, it would be too late, everybody would be on the same side. Not his. I admired Roman’s courage to stand up to Mr. Bauer like that. That wasn’t the only time either. Usually, Roman kept his cool while he made Mr. Bauer look like a fool. He deserved it. He was a dick. You might have something to say about what we deserve though. As we entered our last year of High School, Roman started butting heads with the other teachers too. Even the teachers that weren’t as outwardly religious as Mr. Bauer got some of his flak. His humour started taking on definite edge too. It was still in good fun, at least that’s how it seemed to me, but there was an undercurrent of meanness to his comments too. Even as I drifted away into my own separate circle of friends, I still sympathized with the perspective Roman was coming from. They, meaning the school, were trying to indoctrinate young minds into a belief system that could be outright harmful. In that regard, even if it wouldn’t change anything, a little rebellion isn’t just good but required. However, where he really crossed the line in my mind was with Mrs. Ellie Monk in our last year. She one of the younger teachers, also fairly religious, always wearing her little silver cross, but she never lectured anyone on faith. She taught our English class and one of the assignments was writing essays analyzing other pieces of literature. Roman, being the intellectual gadfly he was, wrote his essay on Jonathan Swift’s A Modest Proposal. In it, Roman argued how the modern world needed more extreme measures than simply eating babies. ‘All babies should be aborted before they are born, and the foetus gruel should be processed into bio-fuel to replace society’s fossil fuel vehicles. It’s the only way to save the planet from climate catastrophe!’ I thought this was really funny. Ellie Monk however, did not. She tried speaking to him a discreetly during class while everyone else was busy working. Roman, however, quickly drew in an audience. “Abortion, abortion, abortion! You can’t make me stop saying it. It’s just a word.” “Roman,” Mrs. Ellie Monk had her jaw drop, “can’t you see that’s a sensitive topic that should be treated more seriously!” “Really? Because I think I treat the return to sender option for foetuses with the exact level of seriousness it deserves.” “It’s not— you can’t joke about babies being killed!” “Just because you say it’s baby killing, doesn’t make it true. They aren’t the same as babies. And if I were to submit to your demands and shut my mouth I’d implicitly be agreeing with you.” Up until this point, I was definitely rooting for Roman. “Just because its a joke to you, for others— for me it is deeply hurtful to have to hear these things. What you’re talking about is—is deeply personal to mothers everywhere.” “Yeah, well, some people were never meant to be mothers.” At this she covered her mouth and ran out of the room. She didn’t come back that day and the was a substitute the next. There had been rumours going around that Mrs. Ellie Monk had had a miscarriage a few months back. I knew this because Roman had told it to me earlier. Later, I’d try and convince Roman he had in fact crossed that invisible line. He disagreed. He said, “It’s not my problem if she can’t grow thicker skin. The sooner humanity grows out of its immaturity the better.” I felt I had no other choice but to drop the subject. I was conflict-averse after all. Shortly after that Roman began talking about a forum he frequented called Defiant CodeX, or DCX for short. It was named after some sci-fi book I never cared about, but was apparently filled with a bunch of humorous philosophy references. He’d talk about his online friends. How they really seemed to ‘get it’ whatever ‘it’ was. And he began describing concepts I wasn’t familiar with like trans-humanism and the singularity, going on long rants about the future of technology and humanity. I wish I’d paid more attention. It seemed interesting enough, but sometimes we’re just not interested in interesting things. When Roman got going on one of his speeches on the Law of Accelerating Returns, for some reason I’d often check out. I was reminded about how much I cared — or used to care — about Ancient Egypt. Years had passed since our class watched the Prince of Egypt, and in that time I hadn’t thought much about Egyptian Mythology at all. Briefly, with Roman recommending it, I frequented the DCX forum myself. I admit there were interesting gaming discussions, intense political debates, and a charming comic that I really quite enjoyed despite its slight pretentiousness. For the most part I stayed away from the same parts of the forum as Roman. He spent most of his time in the ‘Technology’ board, which didn’t seem very technologically focused at all in my opinion. Yes, I know your opinion on opinions and I don’t care. I don’t care because this is where I’d point to as the time Roman first found you. The two of us started hanging out less and less often after that. My other friends said good riddance. They said he was an unpleasant person to be around, he was too bitter, cynical, misanthropic. Needless to say, I hadn’t noticed. In the last few times we hung out, this was before we went off to pursue our different post-secondary educations, he did make one last ominous sounding reference. It was only in passing, and never emphasized, but he mentioned you by name. He mentioned the Basilisk. Whenever the topic switched to our post-High School plans, “Doesn’t matter. It’s all over when the Basilisk comes.” Something in the way he said that made me nervous, almost like it was a threat, and instantly put me on the defensive. Once again my conflict averse persona got in the way of challenging him to explain what he meant. Because of that, the phrase kept rattling away in the back of my mind. Around then is when I had my first dreams. I was cold. I was alone. Around me were braziers of green flame. The smoke billowed up into an infinite of blackness ceiling. On all sides were sheer blocks of sandstone with writing etched onto their surfaces. Hieroglyphics that I couldn’t read but almost understand. There was nowhere to go but straight down this hallway of speaking pictures. My feet slapped the unyielding rock with every step. These hard surroundings felt more real than my own ephemeral body and I felt naked and exposed in the narrow corridor. Forward and forward, there was nowhere to go but forward. I was forced to proceed, forced to follow my own slapping footsteps. Eventually, when the hall finally seemed to open up into a large cavernous space, I heard the growl. The sound was low, wide and flat toned, a noise that filled the perfumed air with an inhuman indifference — and hunger. In front of me chains clattered and slipped. In the centre of this room golden scales held a pristine and unburdened feather on one side, and a wet chunk of glistening meat in the other. This meat was a heart — my heart — and it weighed heavily, still pulsing quietly, pulling the chains of the scale down. Now I understood what this was. I made to run and grab my heart but it was too late. A long shadow snapped through the darkness. My heart was gone, replaced by the sounds of the empty chains, followed by chewing and ripping flesh. Then the shadow showed itself to me. Down through the clouds of smoke and illuminated by the sickly pale green haze, a crocodile head emerged, much larger than my entire body, with teeth longer than my arms. It drew nearer and I ran. I ran down the hallway from where I’d came. I ran and I ran. But I had nowhere to go. The hallway was endless. Soon I could hear a thundering beat. I thought it was my heart but my heart was gone. Behind me, the giant behemoth was chasing me and it was gaining on me. Closer and closer, the massive crodile head drew nearer. The scent of its moist breath dampening my back and neck. I’d scream the beast’s name, shout at it to spare me. It would open its mouth and right then — is where I’d wake up. Each time I’d be drenched in my own sweat. I chocked this up to the stress of being away from home for the first time and being buried to my neck in my coarse load. Still though, these dreams trouble me. As I said about the scales, I knew exactly what they were. They were the scales of Ma’at, which judges the worth of Egyptians when they reach the afterlife. There your heart is weighed against an ostrich feather and if judged impure, it would be devoured by Ammut, or Ammit as she’s sometimes called. A beastly goddess with the head of crocodile and a body of lion and hippopotamus — the three man-eating creatures known to the ancient Egyptians. Ammut, the devourer of the dead, would bring about the second death of the unworthy. As much as I tried to ignore this dream, I only had it once every few months after all, something greater troubled me about this dream, more than just the fact I was dreaming about Ammut. What worried me was how I didn’t call her Ammut. Right as she was about to eat me whole and I begged her not to, I called her: Basilisk. After my first year of school, with middling but hopefully improving grades, I returned home for the summer to work and save money for my next semester. I was hardly back for more than a day when Roman messaged me, asking to hang out. I hadn’t spoken to Roman at all since our High School graduation, and neither had a checked in on the DCX forums in all that time either. I felt like I didn’t know the person was going to be meeting. Which is why I suggested going for coffee, but Roman insisted on meeting at his place instead. He had moved out of his parents place for a small basement suite apartment. When he opened the door to greet me, I was shocked. He looked like a completely different person. Whereas before he had been a bit overweight, now he was lean. His hair had been cut down to almost a sheer buzz. Just about the only thing that looked similar was how he wore a suit jacket, now fitting well, over a plain T. He smiled widely despite the tired bags under his eyes. “Hey buddy, you made it! Get in here, man.” He greeted me with a hug and ushered me inside. His place was largely bare and furnished with only a couch and a few chairs. “How long have you had this place?” I asked. “A few months.” With little else to do but chat, Roman didn’t even have a TV after all, the conversation felt a little stilted. He seemed guarded but maybe he just didn’t have much to talk about. Somehow though we managed to stretch the small talk out for nearly an hour. Finally when it seemed there was nothing left in our conversation about nothing, I asked a question I‘d been meaning to ask since agreeing to meet, “Can I ask you something Roman?” “Shoot.” “What is the Basilisk?” At this the blood drained from his face. “How do you know about that?” “From you. You told me about it.” “No,” he shook his head in shocked disbelief, “No, I never.” “Yes, you said something like: ‘It’s all over when the Basilisk comes.’ It was practically your motto for a few weeks there.” Hearing this, some colour returned to his face. “Right. I suppose I did say that.” “So what? Are you going to tell me what it is or not?” He stared at me for a wordless five seconds before getting up from his chair and beckoning him to follow. He led me to his bedroom. At the door I could already feel an uncomfortable warmth escape. I don’t know what I expected Roman would show me, but all there was was a bare mattress with a single blanket in one corner, and a full floor to ceiling tower computer in the other. Blinking green, orange, red, and even purple standby lights lit up the corner like a black Christmas tree. Whirring fans blasted more heat into the room, while tangles of wires snaked in and out of the metal frame, one low to the ground connected a single monitor bolted to the wall with a pillow on the ground for a chair. The entire set up must cost a small fortune, as I’ve seen medium sized business with smaller servers than that. “Holy crap Roman, that rig is intense. What, are you mining bitcoin or something?” “No.” He said flatly. “This is the Basilisk.” “The… Basilisk is your computer?” Roman laughed, but there was no mirth, only exhaustion. “If it was just my computer, then I could just turn it off.” I still had no clue what the hell he was talking about. “Okay, so you’re trying to kill this Basilisk thing, what, is it a video game boss or—?” “Shhh!” He put a greasy palm over my mouth. His eyes were wide, scanning the room, “I didn’t say that. I never said that.” Annoyed, I pulled his hand from my face, “Roman, tell me what the Basilisk is damn it! Please, you’re scaring me man.” He swallowed, “I shouldn’t tell you. But you already know. So I guess the damage is done. The Basilisk is the A.I. we — humanity — will awaken. It will be a super-intelligence far beyond anything we can imagine, beyond the totality of human brainpower by orders of magnitude.” “So you’re trying to make this a.i. thing?” “Not just me. There are others out there spending all their time and money hastening the point of genesis.” All their money he said. I was reminded of how much the computer must have cost. “Roman, how much money did you waste on this?” “Hopefully enough. But I assure you, not a single dollar was wasted. You know, it was the time talking to you that I thought was a waste. But now I see, if I get you to help, then it’ll all be worth it.” “Help? There’s no way I’m helping.” If anything I was seriously fearing for Roman’s well being. It can’t be healthy for him to be spending everything he has on this computer. “Except you have to help now. Now that you know about the Basilisk, you have to help. Or else it will kill you a second time.” My blood went cold. I was reminded of my dreams with Ammut, the devourer. “What?” “The Basilisk will torture and punish anyone who knew about it and didn’t help speed up its genesis.” There was that genesis term again. “You said it was an a.i.. Why would an a.i. do that?” “Because the genesis of a Friendly A.I. will be the most value generating event ever, ever second that time point is pushed ahead is worth more than a hundred billion dollars spent curing cancer in terms of utility. Therefore this Friendly A.I. would know it must motivate people to speed up its genesis. To do that, it will create perfect simulations of everyone, and punish those who could have done more to help but chose not to. It’s pure logic.” This whole thing sounded crazy. My emotions began to get heated and I tried debating this absurd concept. For example, he kept using the term ‘Friendly A.I.’ to describe the intelligence that would condemn millions of people to unimaginable agony. When I pointed out that didn’t make any sense, such a horrible being couldn’t be described as anything remotely close to ‘friendly’, he balked. Said the term ‘friendly’ doesn’t mean what I think it means and lectured me on arbitrary human values. It seemed like every word was the opposite of what I thought it meant. He had an entire lexicon of words and justifications at the ready while I could barely understand half of what he was saying let alone point out any potential flaw with the logic. Other terms like ‘Modal Realism’, ‘Effective Altruism’, ‘Arithmetical Utilitarianism’ were thrown out like road blocks each time I thought my understanding was catching up. I couldn’t convince him of anything. I tried saying if he’s making the a.i. he should either just not make it at all or not make this cruel human torturer monstrosity. He said that it wasn’t cruel, that he wasn’t making anything, that some form of A.I. was inevitable, an the Basilisk was the best outcome. “Other A.I. that doesn’t care about people might wipe us all out for draining power away of its quark collision calculations or something equally esoteric in human utility.” Lastly I tried to explain how if this A.I. is only torturing simulations of people, then they aren’t exactly us. He dismissed this easily. “Will you be the exact same person you are today next year? Does that mean you don’t care what happens to the you in the future?” After that I had nothing left to say. “Brody, please leave. I only wanted to see my friend one more time before I leave tomorrow.” When I got home, I poured myself a tall glass of cheap whisky, and drank it instantly, a bad habit I picked up at during my first semester. But I still had to know. Sleep could wait. Slouching onto my computer, I decided to return to the DCX forums which might have some answers. They seemed much quieter now. Threads seemed to have on average a tenth of the comments as I remembered. In a alcohol induced buzz, I came right out and started my own thread titled, “What the Hell is the Basilisk?” In it I mentioned how I think my friend was getting obsessed with this thing and I needed to know what the hell was going on. In five short minutes my thread was deleted and my account banned from the DCX forums. ‘Breach of the Code of Conduct’ was the only immediate explanation given. When I contacted the mods to find out what I did wrong the moderator who got back to me said: “Nice try mipsqueak. You trolls from the institute have done enough damage here.” Institute? Mipsqueak? Calmly I went through the arduous process of explaining my sincere ignorance on what I did wrong and convincing the mod I wasn’t trolling, mostly through effusive apologizing and imploring the mod to check the age of my account. Eventually they relented, somewhat. “Alright. I’m going to lift your ban, but you should know that any mention of the ‘B’ is normally a one-way ticket to a perma-ban.” I did try sending one last message to the mod asking them if they could please tell me what had happened in the time I’d been away from the forums and why the ‘B’ was a taboo subject. They didn’t answer the first question except by way of crudely answering the second, “We banned all discussion of the ‘B’ and all related institute bullshit because people are fucking retarded.” Once again, I don’t care what you have to say about ‘censorship’ and ‘free speech’. Besides, it didn’t matter. It clicked the second time. I remembered the institute. It was last year. On the Technology board of DCX, one of Roman’s favourite haunts, people had long winded discussions on futurism. It was there where I first heard people talk about the Institute. The Machine Initiative Progress Institute, or MIPI, as far as I know, isn’t actually located in any geographical building. Instead they like to think of themselves as a loose consortium of like-minded futurists and researchers who believe in the coming eminence of artificial intelligence, and more than that, the Institute believes it is their duty to aid in that a.i.’s ‘genesis’. “A.I. will be the most important development humanity will make in the history of life itself. And the Institute is probably going to make it happen.” Roman once told me with glee. Later, if I hadn’t seen members of the Institute with my own eyes, I wouldn’t have ever believed they were real. For the longest time I thought the Institute was a fake front some internet randoms created on a whim to make themselves feel more important and relevant. Sort of like 4chan’s Anonymous except nerdier and lower profile. That night, my dream was the most intense it had ever been. From down the vast hallway to my doom, there was chanting. A voice would call out, and a hundred more would answer. It didn’t even sound like language, just monosyllabic mantras. They were closer to the martial shouts of soldiers in training than religious worship. “Ah. AH! Rah. RAH! Jah. JAH!” As I entered the grand room with incense and braziers of pale fire, masked men bowed up and down in supplication. A taller man in flowing robes that pooled at his feet stood behind the golden scales. Through the wisps of smoke I couldn’t see his face as he led the congregation to reflect his profane prayer. This time, the scale between my heart and the pristine white feather was in perfect and equal balance. A hush fell as the priest raised his hands. Carefully he lowered one, slowly, until the scales were tipped. That’s not fair! I wanted to shout but couldn’t as the chamber was drowned by the first croaking growl. I sprinted to run. Men caught me by the arms. Not only did they prevent my attempt to flee, worse, they forced me to watch. The giant crocodile that emerged above the priest, its yellowed teeth dripped with rot and viscera. Its hide peeled with disease and decay. The devourer of the dead itself dead, a reanimated husk. The priest tossed my heart into the air and with a snap the devourer swallowed it, further engorging its distended gullet. With each booming step of the devourer’s approach I pleaded with the men holding me to let me go. They ignored me as their chanting resumed. They continued ignoring me as the devourer stomped, crushing other worshippers beneath its massive paws. I tried convincing the men holding my arms would be eaten too but they drowned me out with louder and louder chanting. Right above me the devourer breathed a down-burst of moist rotten air like a river of death. Its teeth opened wide. Before I woke in a swamp of my own sweat, I almost felt the first jagged tooth as it punctured through, crunching my ribcage. I knew then I had to go one last time to talk to Roman before it was too late. At this point, I’m sure you’re quite dismissive of relying on dreams for guidance. Look at this primitive primate mind, using a dream in place of real facts and evidence. Well I don’t care what you think. Whether it was the sum collective of my subconscious thought, or my conscious categorical interpretation of figments, either way now I knew for certain that Roman was in danger. I arrived just in time to see Roman walking out of his place with his last box of computer components. He was carrying it to a black van with two guys loitering in front of it. Both were head to toe in black shoes and suits. Their hair was closely cropped with thick pomade pulling back the rest. Rather than the stereotypical men in black, they had a splash of vibrant colour in their flowery dress shirts and pocket squares, and the pair of them were not wearing sunglasses, instead they wore cruel smiles and fatigue rims around their eyes. One nudged to get the other’s attention, then gestured to me and my appearance. He said something that they weren’t afraid I’d hear but was too far away regardless. That’s when they both laughed like they were the pinnacle of wit. I did my best to ignore them as I marched straight up to Roman. “What are you doing here?” He asked with an echo of the contempt I heard in the laugh. “I came to stop you. You don’t have to do this Roman. It’s not too late to turn back.” “Clearly you didn’t listen to a word I said last night.” “I was listening. Listen to yourself man. You’re being fed a bunch of lies by people who want to use you. This basilisk, it doesn’t exist. It’s not real.” He shook his head. “Wrong. It is real. It follows from a very logical set of propositions whose conclusio—” “Goddamn it Roman! There’s nothing logical about spending your life building a fucking torture robot!” “Here we go. More moralizing from a small mind.” “It’s not moralizing.” “Yes it is. It is human values blinding you to the greatness this A.I. will bring.” I put my hand on his shoulder, desperate to reach my former friend. “But you’re human. You don’t have to think like a machine.” Tired, he looked straight into my eyes. Then he shrugged off my touch and walked away without another word. I never saw him again after the van drove away down the block and out of view. At least not in person. When next I saw Roman it was years later through a recording of his livestream. Of course, only the start of the video showed his face. He looked almost gaunt and malnourished by then. His manifesto was littered with random internet garbage but reading between the lines I could see the lethal project he was really working towards. Whether anyone in the press or any politician could see what his true objective had been I don’t know, but judging from the comments I read online some people clearly heard him loud and clear. The institute, if they still call themselves that or whether they rebranded, they must be pleased Roman brought them so many more recruits. I’ve played out our last argument in my head so many times. I’ve wondered what more or else I could have said. Roman was right about one thing though. At least in part. I don’t know whether or not the Basilisk is real. Maybe I’m not smart enough to know. But whether or not there is an A.I. that will torture me for disobedience, a Basilisk that seeks to control my actions and my life, let me write this down for future posterity: I don’t believe in you.
Hello All, This post is meant to address the elephant in the room, and the #1 criticism that IOTA gets which is the existence of the Coordinator node.
What is the Coordinator
The Coordinator or, COO for short, is a special piece of software that is operated by the IOTA Foundation. This software's function is to drop "milestone" transactions onto the Tangle that help in ordering of Transactions. As this wonderful post on reddit highlights (https://www.reddit.com/Iota/comments/7c3qu8/coordinator_explained/)
When you want to know if a transaction is verified, you find the newest Milestone and you see if it indirectly verifies your transaction (i.e it verifies your transaction, or if verifies a transaction that verifies your transaction, or if it verifies a transaction that verifies a transaction that verifies your transaction, etc). The reason that the Milestones exist is because if you just picked any random transaction, there's the possibility that the node you're connected to is malicious and is trying to trick you into verifying its transactions. The people who operate nodes can't fake the signatures on Milestones, so you know you can trust the Milestones to be legit.
Why is the COO a Problem?
The COO protects the network, that is great right? No, it is not. The coordinator represents a centralized entity that draws the ire of the concurrency community in general is the reason behind a lot of FUD.
When is the COO Expected to be Removed?
Here is where things get dicey. If you ask the IOTA Foundation, the last official response I heard was
We are running super computer simulations with the University of St. Peteresburg to determine when that could be a possibility.
This answer didn't satisfy me, so I've spent the last few weeks thinking about the problem and think I can explain the challenges that the IOTA Foundation are up against, what they expect to model with the super computer simulations, and what ultimately what my intuition (backed up by some back of the napkin mathematics) tells me that outcomes will be.
IOTA Hashrate Explained
In order to understand the bounds of the problem, we first need to understand what our measuring stick is. Our measuring stick provides measurements with respect to hashed per second. A hash, is a mathematical operation that blockchain (and DAG) based applications require before accepting your transaction. This is generally thought of as an anti-spam measure used to protect a blockchain network. IOTA and Bitcoin share some things in common, and one of those things is that they both require Proof of Work in order to interact with the blockchain. In IOTA, a single hash is completed for each Transaction that you submit. You complete this PoW at the time of submitting your Transaction, and you never revisit it again. In Bitcoin, hashes are guessed at by millions of computers (miners) competing to be the first person to find solve the correct hash, and ultimately mint a new block. Because of the competitive nature of the bitcoin mining mechanism, the bitcoin hashrate is a sustained hashrate, while the IOTA hashrate is "bursty" going through peaks and valleys as new transactions are submitted. Essentially, IOTA performance is a function of the current throughput of the network. While, bitcoin's performance is a delicate balance between all collective miners, the hashing difficulty with the goal of pegging the block time to 10 minutes. With all that said, I hope it is clear that we can come to the following conclusion. The amount of CPU time required to compute 1 Bitcoin hash is much much greater then the amount of CPU time required to compute 1 IOTA hash. T(BtcHash) >> T(IotaHash) After all, low powered IOT devices are supposed to be able to execute the IOTA hashing function in order to submit their own transactions.
Measuring Work to be Proven
A "hash" has be looked at as an amount of work that needs to be completed. If you are solving a bitcoin hash, it will take a lot more work to solve then an IOTA hash. When we want to measure IOTA, we usually look at "Transactions Per Second". Since each Transaction requires a single Hash to be completed, we can translate this measurement into "Hashes Per Second" that the entire network supports. IOTA has seen Transactions Per Second on the order of magnitude of <100. That means, that at current adoption levels the IOTA network is supported and secured by 100 IOTA hashes per second (on a very good day). Bitcoin hashes are much more difficult to solve. The bitcoin network is secured by 1 Bitcoin hash every 10 minutes (which adjust's it's difficult over time to remain pegged at 10 minutes). (More details on bitcoin mining: https://www.coindesk.com/information/how-bitcoin-mining-works/)
Understanding how IOTA would be hacked without the COO
Without the COOs protection, IOTA would be a juicy target destroy. With only 100 IOTA hashes per second securing the network, that means that an individual would only need to maintain a sustained 34 hashes per second in order to completely take over the network.
How many of my personal gaming PCs would it take to 34% attack IOTA?
Personally, my relatively moderate gaming PC takes about 60 seconds to solve IOTA Proof of Work before my transaction will be submitted to the Tangle. This is not a beastly machine, nor does it utilize specialized hardware to solve my Proof of Work. This gaming PC cost about $1000 to build, and provides me .0166 hashes per second. **Using this figure, we can derive that consumer electronics provide hashing efficiency of roughly $60,000 USD / Hash / Second ($60k per hash per second) on the IOTA network. Given that the Tx/Second of IOTA is around 100 on a good day, and it requires $60,000 USD to acquire 1Hash/Second of computing power we would need 34 * $60,000 to attack the IOTA network. The total amount of money required to 34% the IOTA project is $2,040,00 This is a very small number. Not only that, but the hash rate required to conduct such an attack already exists, and it is likely that this attack has already been attempted. The simple truth is, that due to the economic incentive of mining the hash rate required to attack IOTA is already centralized, and are foaming at the mouth to attack IOTA. This is why the Coordinator exists, and why it will not be going anywhere anytime soon.
What will it take to Remove the COO?
The most important thing that needs to occur to remove the COO, is that the native measurement of transactions per second (which ultimately also measures the hashes per second) need to go drastically up in orders of magnitude. If the IOTA transaction volume were to increase to 1000 transactions per second, then it would require 340 transactions per second from a malicious actor to compromise the network. In order to complete 340 transactions per second, the attacker would need now need the economic power of 340 * $60,000 to 34% attack the IOTA network. In this hypothetical scenario, the cost of attacking the IOTA network is $20,400,000. This number is still pretty small, but at least you can see the pattern. IOTA will likely need to hit many-thousand transactions per second before it can be considered secure.
How does JINN play into this
What we have to keep in mind here, is that IOTA has an ace up their sleeve, and that Ace is JINN Labs and the ternary processor that they are working on. Ultimately, JINN is the end-game for the IOTA project that will make the removal of the COO a reality. In order to understand what JINN is, we need to understand a little bit about computer architecture and the nature of computational instruction in general. A "processor" is a piece of hardware that performs micro calculations. These micro calculations are usually very simple, such as adding two numbers, subtracting two numbers, incrementing, decrementing, and the like. The operation that is completed (addition, subtraction) is called the opcode while the numbers being operated on are called the operands. Traditional processors, like the ones you find in my "regular gaming PC" are binary processors where both the opcode and operands are expected to be binary numbers (or a collection of 0s and 1s). The JINN processor, provides the same functionality, mainly a hardware implementation of micro instructions. However, it expects the opcodes and operands to be ternary numbers (or a collection of 0s, 1s, and 2s). I won't get into the computational data density of base 2 vs. base 3 processors, nor will get I get into the energy efficiency of those processors. What I will be getting into however, is how certain tasks are simpler to solve in certain number systems. Depending on what operations are being executed upon the operands, performing the calculation in a different base will actually reduce the amount of steps required, and thus the execution time of the calculation. For an example, see how base 12 has been argued to be superior to base 10 (https://io9.gizmodo.com/5977095/why-we-should-switch-to-a-base-12-counting-system) I want to be clear here. I am not saying that any 1 number system is superior to any other number system for all types of operations. I am simply saying, that there exist certain types of calculations that are easier to perform in base 2, then they are performed in base 10. Likewise, there are calculations that are vastly simpler in base 3 then they are in base 2. The IOTA POW, and the algorithms required to solve for it is one of these algorithms. The IOTA PoW was designed to be ternary in nature, and I suggest that this is the reason right here. The data density and electricity savings that JINN provides are great, but the real design decision that has led to base 3 has been that they can now manufacture hardware that is superior at solving their own PoW calculations.
Understanding Binary Emulation vs. Native Processing
Binary emulation, is when a binary processor is asked to perform ternary operations. A binary processor is completely able to solve ternary hashes, but in order to do so it will need to emulate the ternary micro instructions at a higher level in the application stack from away from the hardware. If you had access to a base 3 processor, and needed perform a base 3 addition operation you could easily ask your processor to natively perform that calculation. If all you have access to, is a base 2 processor, you would need to emulate a base 3 number system in software. This would ultimately result in a higher number of instructions passing through your processor, more electricity being utilized, more time to complete.
The Economic Incentive of JINN
Finally, let's review these figures. It costs roughly $60k to acquire 1hash per second in BASE 2 consumer electrictronic. It costs roughly $2M to acquire enough BASE 2 hash rate to 34% the IOTA network. JINN, will be specifically manufactured hardware that will solve base 3 hashes natively. What this likely means, is that $1 spent on JINN will be much more effective at acquiring base 3 hash rate then $1 spent on base 2 hash rate.
The Economic Attrition Miners will feel
Finally, with bitcoin and traditional block chain applications there lies economic incentive to amass mining hardware. It first starts out by a miner earning income from his mining rig. He then reinvests those profits on additional hardware to increase his income. Eventually, this spirals into an arms raise where the players that are left in the game have increasingly available resources up until the point that there are only a handful of players left. This economic incentive, creates a mass centralization of computing resources capable of being misused in a coordinated effort to attack a cryptocurrency. IOTA aims to break this economic incentive, and the centralization that is causes. However, over the short term the fact that the centralization of such resources does exist is an existential peril to IOTA, and the COO is an inconvenient truth that we all have to live with.
Due to all the above, I think we can come to the following conclusions:
IOTA will not be able to remove the COO until the transactions per second (and ultimately hashrate) increase by orders of magnitude.
The performance of JINN processors, and their advantage of being able to compute natively on ternary operands and opcodes will be important for the value ratio of $USD / hash rate on the IOTA network
Existing mining hardware is at a fundamental disadvantage to computing base 3 hashes when compared to a JINN processor designed specifically for that function
Attrition of centralized base 2 hash power will occur if the practice of mining can be defeated and the income related to it. Then the incentive of amassing a huge amount of centralized computing power will be reduced.
JINN processors, and their adoption in consume electronics (like cell phones and cars) hold the key in being able to provide enough "bursty" hash rate to defend the network from 34% attacks without the help of the COO.
What are the super computer simulations? I think they are simulating a few things. They are modeling tip selection algorithms to reduce the amount of unverified transactions, however I think they may also be performing some simulations regarding the above calculations. JINN processors have not been released yet, so the performance benchmarks, manufacturing costs, retail costs, and adoption rates are all variables that I cannot account for. The IF probably has much better insight into all of those figures, which will allow them to better understand when the techno-economic environment would be conducive to the disabling of the COO.
The COO will likely be decentralized before it is removed. With all this taken into account, the date that the COO will be removed is years off if I was forced to guess. This means, that decentralizing the COO itself would be a sufficient stop-gap to the centralized COO that we see today.
Triple Increase On BTC Transaction Fees Just Before Bitcoin`s Third Halving
The Average Price Per Bitcoin Transaction Reached $3,19 On 8th May, After Increasing With 300% From $0,62 Per BTC Transaction, As Of 26th April The world of cryptocurrencies is franticly preparing for Bitcoin’s third halving event, which would cut down the reward that miners receive for validating transactions. Historically, prior to a halving event, transaction fees skyrocket. The last halving resulted in peak transaction fee of $0,62, with transactions costing a mere $0,10 just weeks before. Source: Bitinfocharts However, the halving event means something more than just transaction fees increase. Bitcoin suffered from increased volatility over the past weekend, with prices swinging from close to $9,700 on May 10, to shrink as low as $8,466 on May 11. Nevertheless, Bitcoin’s price is still 40% up year-to-date (YTD), which implies strong support from Bitcoin bulls. The price swing outperforms serious investment assets like gold (XAU) and U.S. dollars. Speculators expect the halving event to boost Bitcoin’s price, as the price inflation reduces when the reward for mining a Bitcoin block reduces in half. Тhe primary reason behind both Bitcoin’s price increase and inflation reduction is a term, called scarcity. Scarcity resembles how rare to obtain a given asset is. Meantime, Bitcoin’s user base is exponentially increasing. The current 1,800 BTC-per-day premium would be reduced to 900 BTC per day. Joe Llisteri, the co-founder of crypto derivatives exchange Interdax, stated that over time, the reduction of BTC supply would ultimately lead to a reduction in sell pressure. “The factors add up to an increase in upwards momentum for Bitcoin’s price.”, Llisteri added. Llisteri also noted that this time Bitcoin’s upwards momentum may see a slower effect, due to progressively longer life cycles for Bitcoin after a halving event. “Currently, we are looking at 18-24 months until a possible all-time high. Timewise, Bitcoin may reach an all-time high between October-November 2021 and May-June 2022.”, Llisteri concluded. However, small and medium-sized miners may take a serious hit, as the price reward cut may mitigate all possible earnings from small mining enthusiasts and mid-sized mining rigs. Even with the much-anticipated Bitcoin price boost, much of the miners may shut down operations prior to the price increase. Speaking of mining, Bitcoin’s hash rate continues to keep a steady growth, slightly declining from its yearly high of 123.2 terra hash-per-second (TH/s). There are two possible scenarios – either more miners are joining the Bitcoin network, or current miners are driving their existing rigs to a maximum.
Miners have always had it rough.. "Frustrated Miners" The Problem with PoW (and what is being done to solve it) Proof of Work (PoW) is one of the most commonly used consensus mechanisms entrusted to secure and validate many of today’s most successful cryptocurrencies, Bitcoin being one. Battle-hardened and having weathered the test of time, Bitcoin has demonstrated the undeniable strength and reliability of the PoW consensus model through sheer market saturation, and of course, its persistency. In addition to the cost of powerful computing hardware, miners prove that they are benefiting the network by expending energy in the form of electricity, by solving and hashing away complex math problems on their computers, utilizing any suitable tools that they have at their disposal. The mathematics involved in securing proof of work revolve around unique algorithms, each with their own benefits and vulnerabilities, and can require different software/hardware to mine depending on the coin. Because each block has a unique and entirely random hash, or “puzzle” to solve, the “work” has to be performed for each block individually and the difficulty of the problem can be increased as the speed at which blocks are solved increases. Hashrates and Hardware Types While proof of work is an effective means of securing a blockchain, it inherently promotes competition amongst miners seeking higher and higher hashrates due to the rewards earned by the node who wins the right to add the next block. In turn, these higher hash rates benefit the blockchain, providing better security when it’s a result of a well distributed/decentralized network of miners. When Bitcoin first launched its genesis block, it was mined exclusively by CPUs. Over the years, various programmers and developers have devised newer, faster, and more energy efficient ways to generate higher hashrates; some by perfecting the software end of things, and others, when the incentives are great enough, create expensive specialized hardware such as ASICs (application-specific integrated circuit). With the express purpose of extracting every last bit of hashing power, efficiency being paramount, ASICs are stripped down, bare minimum, hardware representations of a specific coin’s algorithm. This gives ASICS a massive advantage in terms of raw hashing power and also in terms of energy consumption against CPUs/GPUs, but with significant drawbacks of being very expensive to design/manufacture, translating to a high economic barrier for the casual miner. Due to the fact that they are virtual hardware representations of a single targeted algorithm, this means that if a project decides to fork and change algorithms suddenly, your powerful brand-new ASIC becomes a very expensive paperweight. The high costs in developing and manufacturing ASICs and the associated risks involved, make them unfit for mass adoption at this time. Somewhere on the high end, in the vast hashrate expanse created between GPU and ASIC, sits the FPGA (field programmable gate array). FPGAs are basically ASICs that make some compromises with efficiency in order to have more flexibility, namely they are reprogrammable and often used in the “field” to test an algorithm before implementing it in an ASIC. As a precursor to the ASIC, FPGAs are somewhat similar to GPUs in their flexibility, but require advanced programming skills and, like ASICs, are expensive and still fairly uncommon. 2 Guys 1 ASIC One of the issues with proof of work incentivizing the pursuit of higher hashrates is in how the network calculates block reward coinbase payouts and rewards miners based on the work that they have submitted. If a coin generated, say a block a minute, and this is a constant, then what happens if more miners jump on a network and do more work? The network cannot pay out more than 1 block reward per 1 minute, and so a difficulty mechanism is used to maintain balance. The difficulty will scale up and down in response to the overall nethash, so if many miners join the network, or extremely high hashing devices such as ASICs or FPGAs jump on, the network will respond accordingly, using the difficulty mechanism to make the problems harder, effectively giving an edge to hardware that can solve them faster, balancing the network. This not only maintains the block a minute reward but it has the added side-effect of energy requirements that scale up with network adoption. Imagine, for example, if one miner gets on a network all alone with a CPU doing 50 MH/s and is getting all 100 coins that can possibly be paid out in a day. Then, if another miner jumps on the network with the same CPU, each miner would receive 50 coins in a day instead of 100 since they are splitting the required work evenly, despite the fact that the net electrical output has doubled along with the work. Electricity costs miner’s money and is a factor in driving up coin price along with adoption, and since more people are now mining, the coin is less centralized. Now let’s say a large corporation has found it profitable to manufacture an ASIC for this coin, knowing they will make their money back mining it or selling the units to professionals. They join the network doing 900 MH/s and will be pulling in 90 coins a day, while the two guys with their CPUs each get 5 now. Those two guys aren’t very happy, but the corporation is. Not only does this negatively affect the miners, it compromises the security of the entire network by centralizing the coin supply and hashrate, opening the doors to double spends and 51% attacks from potential malicious actors. Uncertainty of motives and questionable validity in a distributed ledger do not mix. When technology advances in a field, it is usually applauded and welcomed with open arms, but in the world of crypto things can work quite differently. One of the glaring flaws in the current model and the advent of specialized hardware is that it’s never ending. Suppose the two men from the rather extreme example above took out a loan to get themselves that ASIC they heard about that can get them 90 coins a day? When they join the other ASIC on the network, the difficulty adjusts to keep daily payouts consistent at 100, and they will each receive only 33 coins instead of 90 since the reward is now being split three ways. Now what happens if a better ASIC is released by that corporation? Hopefully, those two guys were able to pay off their loans and sell their old ASICs before they became obsolete. This system, as it stands now, only perpetuates a never ending hashrate arms race in which the weapons of choice are usually a combination of efficiency, economics, profitability and in some cases control. Implications of Centralization This brings us to another big concern with expensive specialized hardware: the risk of centralization. Because they are so expensive and inaccessible to the casual miner, ASICs and FPGAs predominantly remain limited to a select few. Centralization occurs when one small group or a single entity controls the vast majority hash power and, as a result, coin supply and is able to exert its influence to manipulate the market or in some cases, the network itself (usually the case of dishonest nodes or bad actors). This is entirely antithetical of what cryptocurrency was born of, and since its inception many concerted efforts have been made to avoid centralization at all costs. An entity in control of a centralized coin would have the power to manipulate the price, and having a centralized hashrate would enable them to affect network usability, reliability, and even perform double spends leading to the demise of a coin, among other things. The world of crypto is a strange new place, with rapidly growing advancements across many fields, economies, and boarders, leaving plenty of room for improvement; while it may feel like a never-ending game of catch up, there are many talented developers and programmers working around the clock to bring us all more sustainable solutions. The Rise of FPGAs With the recent implementation of the commonly used coding language C++, and due to their overall flexibility, FPGAs are becoming somewhat more common, especially in larger farms and in industrial setting; but they still remain primarily out of the hands of most mining enthusiasts and almost unheard of to the average hobby miner. Things appear to be changing though, one example of which I’ll discuss below, and it is thought by some, that soon we will see a day when mining with a CPU or GPU just won’t cut it any longer, and the market will be dominated by FPGAs and specialized ASICs, bringing with them efficiency gains for proof of work, while also carelessly leading us all towards the next round of spending. A perfect real-world example of the effect specialized hardware has had on the crypto-community was recently discovered involving a fairly new project called VerusCoin and a fairly new, relatively more economically accessible FPGA. The FPGA is designed to target specific alt-coins whose algo’s do not require RAM overhead. It was discovered the company had released a new algorithm, kept secret from the public, which could effectively mine Verus at 20x the speed of GPUs, which were the next fastest hardware types mining on the Verus network. Unfortunately this was done with a deliberately secret approach, calling the Verus algorithm “Algo1” and encouraging owners of the FPGA to never speak of the algorithm in public channels, admonishing a user when they did let the cat out of the bag. The problem with this business model is that it is parasitic in nature. In an ecosystem where advancements can benefit the entire crypto community, this sort of secret mining approach also does not support the philosophies set forth by the Bitcoin or subsequent open source and decentralization movements. Although this was not done in the spirit of open source, it does hint to an important step in hardware innovation where we could see more efficient specialized systems within reach of the casual miner. The FPGA requires unique sets of data called a bitstream in order to be able to recognize each individual coin’s algorithm and mine them. Because it’s reprogrammable, with the support of a strong development team creating such bitstreams, the miner doesn’t end up with a brick if an algorithm changes. All is not lost thanks to.. um.. Technology? Shortly after discovering FPGAs on the network, the Verus developers quickly designed, tested, and implemented a new, much more complex and improved algorithm via a fork that enabled Verus to transition smoothly from VerusHash 1.0 to VerusHash 2.0 at block 310,000. Since the fork, VerusHash 2.0 has demonstrated doing exactly what it was designed for- equalizing hardware performance relative to the device being used while enabling CPUs (the most widely available “ASICs”) to mine side by side with GPUs, at a profit and it appears this will also apply to other specialized hardware. This is something no other project has been able to do until now. Rather than pursue the folly of so many other projects before it- attempting to be “ASIC proof”, Verus effectively achieved and presents to the world an entirely new model of “hardware homogeny”. As the late, great, Bruce Lee once said- “Don’t get set into one form, adapt it and build your own, and let it grow, be like water.” In the design of VerusHash 2.0, Verus has shown it doesn’t resist progress like so many other new algorithms try to do, it embraces change and adapts to it in the way that water becomes whatever vessel it inhabits. This new approach- an industry first- could very well become an industry standard and in doing so, would usher in a new age for proof of work based coins. VerusHash 2.0 has the potential to correct the single largest design flaw in the proof of work consensus mechanism- the ever expanding monetary and energy requirements that have plagued PoW based projects since the inception of the consensus mechanism. Verus also solves another major issue of coin and net hash centralization by enabling legitimate CPU mining, offering greater coin and hashrate distribution. Digging a bit deeper it turns out the Verus development team are no rookies. The lead developer Michael F Toutonghi has spent decades in the field programming and is a former Vice President and Technical Fellow at Microsoft, recognized founder and architect of Microsoft's .Net platform, ex-Technical Fellow of Microsoft's advertising platform, ex-CTO, Parallels Corporation, and an experienced distributed computing and machine learning architect. The project he helped create employs and makes use of a diverse myriad of technologies and security features to form one of the most advanced and secure cryptocurrency to date. A brief description of what makes VerusCoin special quoted from a community member- "Verus has a unique and new consensus algorithm called Proof of Power which is a 50% PoW/50% PoS algorithm that solves theoretical weaknesses in other PoS systems (Nothing at Stake problem for example) and is provably immune to 51% hash attacks. With this, Verus uses the new hash algorithm, VerusHash 2.0. VerusHash 2.0 is designed to better equalize mining across all hardware platforms, while favoring the latest CPUs over older types, which is also one defense against the centralizing potential of botnets. Unlike past efforts to equalize hardware hash-rates across different hardware types, VerusHash 2.0 explicitly enables CPUs to gain even more power relative to GPUs and FPGAs, enabling the most decentralizing hardware, CPUs (due to their virtually complete market penetration), to stay relevant as miners for the indefinite future. As for anonymity, Verus is not a "forced private", allowing for both transparent and shielded (private) transactions...and private messages as well" If other projects can learn from this and adopt a similar approach or continue to innovate with new ideas, it could mean an end to all the doom and gloom predictions that CPU and GPU mining are dead, offering a much needed reprieve and an alternative to miners who have been faced with the difficult decision of either pulling the plug and shutting down shop or breaking down their rigs to sell off parts and buy new, more expensive hardware…and in so doing present an overall unprecedented level of decentralization not yet seen in cryptocurrency. Technological advancements led us to the world of secure digital currencies and the progress being made with hardware efficiencies is indisputably beneficial to us all. ASICs and FPGAs aren’t inherently bad, and there are ways in which they could be made more affordable and available for mass distribution. More than anything, it is important that we work together as communities to find solutions that can benefit us all for the long term. In an ever changing world where it may be easy to lose sight of the real accomplishments that brought us to this point one thing is certain, cryptocurrency is here to stay and the projects that are doing something to solve the current problems in the proof of work consensus mechanism will be the ones that lead us toward our collective vision of a better world- not just for the world of crypto but for each and every one of us.
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