Bitcoin On Air: May 2018

Thursday 31 May 2018

Amazon’s Cloud Services Hijack Computers Using Crypto-Mining Malware

http://bit.ly/2smfjrM

Submitted May 31, 2018 at 11:58PM by tordirescu http://bit.ly/2xwlyyq

Ultimate Guide to Securing Your Bitcoins - How to NOT Get Hacked 101

http://bit.ly/2sAU455 via /r/Bitcoin http://bit.ly/2kEDVbd

Bittrex has added USD-BTC!

https://twitter.com/BitMartian/status/1002179567266729984

Submitted May 31, 2018 at 09:42PM by Junkyardist http://bit.ly/2J0532H

Why crypto wins

So the other day I was helping a friend learn about bitcoin because he wanted to play online poker.

I explained he needed to open a gemini account and link his bank. He was exited. Went through the steps. Then got a notice that the bank account number was wrong. He goes down to the bank and they tell him they don’t put account numbers on outgoing wire transfers. So now he’s out the $100 for 3-5 days while his money sits in banking limbo. Oh and they charged him $30 on top of the $100 so that he has the luxury to have his money frozen for a while. He still can’t get registered with gemini and all he wanted to do was deposit $50 into an online poker site for a little fun.

So finally he gives me $100 cash. I give him the bitcoin on his phone standing next to him. Done and done in under 10 seconds. A few minutes later the $100 worth of BTC was worth $102.

Frictionless. Easy. Fast. No hassle. No forms to fill out. Etc.

Banks and traditional systems are simply archaic by comparison when it comes to simply moving money electronically.

I can’t imagine any kids growing up today will look fondly at the slow, inefficient, and intrusive banking system and then compare that to cryptocurrnecies and feel that traditional banking systems are anything but old fashioned dinosaurs like rotary phones and paying for long distance compared to smartphones w/ Skype.

Banks simply cost more and do less with greater hassle.

Submitted May 31, 2018 at 04:06PM by DrinkDice http://bit.ly/2LNpvSm

In the World of Cryptocurrency, Even Good Projects Can Go Bad

By NATHANIEL POPPER via NYT https://nyti.ms/2stK1OV

China Is Warming Up To Bitcoin Again!

http://bit.ly/2J0FdMj via /r/Bitcoin http://bit.ly/2xv4cBZ

Tx's cost are the lowest in 7 years, yet Tx's count are as high as 2016 ! ~200K Daily

http://bit.ly/2slt2iy

Submitted May 31, 2018 at 06:52PM by mishax1 http://bit.ly/2xu0mc9

Bittrex Gets Bank Agreement to Help You Buy Bitcoin With Dollars

https://bloom.bg/2stGIr8 via /r/Bitcoin http://bit.ly/2kEXOik

Bittrex has added USD-BTC!

https://twitter.com/BitMartian/status/1002179567266729984 via /r/Bitcoin http://bit.ly/2J0532H

I'm finally out and able to buy my lambo

http://bit.ly/2J2U18O

Submitted May 31, 2018 at 03:30PM by Sc2Antares http://bit.ly/2LJZLq5

Classic Shaolin pattern forming! We can only go up from here.

http://bit.ly/2Jl8uAq

Submitted May 31, 2018 at 12:01AM by rugglenaut http://bit.ly/2LciJV3

Fun fact, in 2017 we experienced the largest percentage increase in price during a bubble in bitcoins history, yet volatility was historically low. In 2 years we will have similar volatility levels as Gold, in 4 years we will have similar volatility levels as other major currencies.

http://bit.ly/2Jl8sbM

Submitted May 30, 2018 at 10:07PM by slvbtc http://bit.ly/2L9FuJ9

Venezuela Bans Crypto Mining Rigs From Entering the Country

http://bit.ly/2J1DWo8

Submitted May 31, 2018 at 09:29PM by bitbybitbybitcoin http://bit.ly/2xw5DQr

The Roger Ver Movie We Didn't Know We Needed

http://bit.ly/2JgLfHH via /r/Bitcoin http://bit.ly/2Lch1mB

Thank you Roger for your shameless tireless promotion! The BitcoinCore $BTCC fork you hear about in every Ver interview is here. Spread far and wide please.

https://twitter.com/BitcoinCore_/status/1001881868772478976 via /r/Bitcoin http://bit.ly/2LcgYXX

We need to improve privacy in Bitcoin.

We are seeing things like Schnorr and CoinJoin rise and fall within months. I feel that the community needs to start pushing, supporting, and spreading awareness for the growing need of privacy solutions in Bitcoin.

Privacy is a right. We all need it, not just the bad guys.

Submitted May 30, 2018 at 10:01PM by allcuzone http://bit.ly/2J6yBb7

Blockchain and Cryptocurrency Startup Paxos Raises $65 Million

By REUTERS via NYT https://nyti.ms/2LaBHeC

Slushpool mining with a scheduled ASIC miner

Hi all,

I'd like to know if I will still get my payouts if my Miner goes offline. My miner is on a outlet timer to turn off at 9am and turn on at 5pm. If the block doesnt get finished before my miner turns off. Do I still get my bitcoins?

Another thing is, will I be damaging the miner if I cycle the power like that twice a day. On at 5pm, off at 9am.

Thanks!

Submitted May 31, 2018 at 04:14PM by cybertronicify http://bit.ly/2LL2BuN

Hayek predicts Bitcoin

http://bit.ly/2LMdZGQ

Submitted May 31, 2018 at 03:55AM by olenbarus12 http://bit.ly/2xp6jai

Bitcoin these days

http://bit.ly/2LJQyOx

Submitted May 31, 2018 at 01:49PM by Matyg123 http://bit.ly/2xsSlUV

Tx's cost are the lowest in 7 years, yet Tx's count are as high as 2016 ! ~200K Daily

http://bit.ly/2slt2iy via /r/Bitcoin http://bit.ly/2xu0mc9

Bitcoin Hot Air Balloon

I plan on using some of my crypto profits to purchase a Bitcoin branded hot air balloon later this year, probably around August time. If there are any balloon pilots in Ireland or UK, please send me a PM. via /r/Bitcoin http://bit.ly/2J3CEVx

Create your own asic miner(It might be possible)

Research:

The ant miner S9 uses the chip bm1387 which produces roughly 74.2 gh per chip.

Cost Per chip can range from $0.20 - 1

So you could essentially be able to build and equivalent miner to the antMiner s9 for less than 400$

It would require a custom pcb which you can get one for about 8$

I wish to ask if i am missing something to why people are not doing this?

Source:

BM1387 chip is found here

PCB

Submitted May 31, 2018 at 04:54PM by Dragocow http://bit.ly/2stcULg

Why crypto wins

So the other day I was helping a friend learn about bitcoin because he wanted to play online poker.I explained he needed to open a gemini account and link his bank. He was exited. Went through the steps. Then got a notice that the bank account number was wrong. He goes down to the bank and they tell him they don’t put account numbers on outgoing wire transfers. So now he’s out the $100 for 3-5 days while his money sits in banking limbo. Oh and they charged him $30 on top of the $100 so that he has the luxury to have his money frozen for a while. He still can’t get registered with gemini and all he wanted to do was deposit $50 into an online poker site for a little fun.So finally he gives me $100 cash. I give him the bitcoin on his phone standing next to him. Done and done in under 10 seconds. A few minutes later the $100 worth of BTC was worth $102.Frictionless. Easy. Fast. No hassle. No forms to fill out. Etc.Banks and traditional systems are simply archaic by comparison when it comes to simply moving money electronically.I can’t imagine any kids growing up today will look fondly at the slow, inefficient, and intrusive banking system and then compare that to cryptocurrnecies and feel that traditional banking systems are anything but old fashioned dinosaurs like rotary phones and paying for long distance compared to smartphones w/ Skype.Banks simply cost more and do less with greater hassle. via /r/Bitcoin http://bit.ly/2LNpvSm

Daily Discussion, May 31, 2018

Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!Daily threads are fast paced! If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.Suggested TopicsScreenshotsof article headlines without the articleof your favorite price tickerof your exchange websiteof your private chatsWallet/Exchange/Networkrecommendationscomplaintsservice outagestroubleshootingfee estimationunconfirmed transactionsAll things pricehodlingthe dipthe moonprice going upprice going downtechnical analysisprice on your smart phoneprice on your smart watchStuff you bought with BitcoinHardware walletsLambosTeslasPizzaQuestionsReceiving BitcoinSending BitcoinEarning BitcoinStoring BitcoinBuying BitcoinSelling BitcoinThat thing your coworker saidBitcoin ShowerthoughtsRandom music videosBitcoin license platesInteresting threadsFuture speculationNews of the dayMemes, GIFsTwitter linksYour price screenshots and repetitive submissions are being removed, so please stop submitting them!Please check the previous discussion thread for unanswered questions. via /r/Bitcoin http://bit.ly/2xtQW0x

I run a small law office -- had my first Bitcoin paying client today.

I run a small law practice. I do mostly Estate Planning (wills, trusts, & probate) and Evictions (oddball side of the practice that grew out of the probate side but is now about 35% of my business).

At the end of most client meetings I ask: "How do you want to pay me?"

Clients will often reply: "What will you take?"

I always answer (in a light-hearted way): "I'm a lawyer, I'll take anything...cash, check, card... I'll even take BitCoin." (This gets a chuckle out of most clients).

I've been doing this line for years.... never gotten a taker. Years!

Today, the client said: "You take bitcoin?"

And after printing my public key QR code, client transferred fee via bitcoin.

Took about 30 seconds to show up as pending, that was good enough for me. We finished up meeting and client left office.

I hope client "spends and replaces" because that might become my largest fee I've ever gotten in 10 years, but in the meantime, I'm just happy to put it to real use!

KEEP USING BITCOIN FOLKS. JUST REMEMBER TO REPLACE!

Submitted May 31, 2018 at 09:22AM by fknr http://bit.ly/2LNmjGf

BitMEX Research: Bitcoin Economics – Deflationary Debt Spiral (Part 3) - Bitcoin is resilient against some traditional disadvantages of deflation. Bitcoin has weaknesses, often overlooked by critics, which make the controversial supply cap necessary. (New PDF Report)

http://bit.ly/2LI1ETX

Submitted May 31, 2018 at 01:22PM by BitMEXResearch http://bit.ly/2xuKtT0

I'm finally out and able to buy my lambo

http://bit.ly/2J2U18O via /r/Bitcoin http://bit.ly/2LJZLq5

Venezuela is banning anything that can be used to mine crypto at the border. Enormous financial crisis and they choose to ban crypto. This is the front of the revolution right now

http://bit.ly/2LJTSsE

Submitted May 31, 2018 at 06:40AM by diamondcuts17765 http://bit.ly/2xvp4Jg

Any interest in mining hosting?

My brothers and I are working on setting up a farm where we could host other people's miners. The house is too hot to run them. We were thinking of either going small, where we will rent out some space to other miners, or go big. Just wondering what the demand for hosting is. We'd be charging about 10cents a kilowatt hour. We have both models ready and we are deciding on wether or not there is a demand for the large farm. Capacity of 10MW plus. Any input? I

Submitted May 31, 2018 at 08:53AM by averageuse http://bit.ly/2sm1MjS

20 (twenty) Antminer X3s for sale with PSU included

5 month left of warranty, the miners have been running in a data center with proper cooling and electricity.

The price is 8 BTC and includes free shipping within the continental USA. Will not ship abroad.

Submitted May 31, 2018 at 08:58AM by Jedi_Ghost_ http://bit.ly/2xqL4oF

I have deeded free natural gas in WV and am looking for a partner or investor to scale the largest possible mining operation we can imagine.

We can get a commercial generator and mine on free power. This is 100% no limit deeded when we purchased the property because wells on the property. We have had it for over 30 years.

I own an asic mining cave right now. I can do all the work and can operate and keep up the miners. We can go 50/50, scale it as large as you would like. Looking for a large investor or partner. We can mine 50% of the miners directly to your wallet. I already have a decent size out building that could house 100s of miners. This is ripe for the picking. I'm estimating a decent generator at $25,000 usd if not a bit more.

Please contact me if interested. This is no scam.

Submitted May 31, 2018 at 09:31AM by N8twon http://bit.ly/2sk0ru0

Wednesday 30 May 2018

I'm tellin' ya-#Bitcoin is going through capitulation. The moment everyone is exhausted from the ~7k to 9k, ~9k to ~7k, & completely over it-that's the moment it will break ATH. At the end of the day, all prices aside, $BTC is changing the world we live in. And that's exciting

https://twitter.com/LynxCollection/status/1001858604297748481 via /r/Bitcoin http://bit.ly/2xqmJzp

Broken my miner :(

Hey Reddit,

So i succesfully set up a little miner using my AntMiner U2 i bought aaaages ago and it was working fine. But i then decided to upgrade the rig a bit and built a usb power supply. Everything was working fine and when i tested it, everything ran as normal. HOWEVER, a wire touched an area of the miner and i saw a glowing chip and it suddenly stopped being recognised as a usb device. The chip that died was labeled U3 (See it here not my picture) and it has a little mark where you can see it has burnt. I still get a red led on the miner itself so it's not completely dead.

Is there anyway i can save it?

Thanks! :)

Submitted May 31, 2018 at 01:05AM by MetalCactuar http://bit.ly/2IW2qPI

20 GPU mining board

http://bit.ly/2ITsMBE

Submitted May 31, 2018 at 01:11AM by busa1 http://bit.ly/2H3lsh6

Looking to get into ASIC mining. Are there any good guides on getting started?

I am looking to hopefully mine some BTC/BCH. I've run mining software on my Linux box (just cpuminer), but I'd like to start mining with one of the cheaper miners.

Is there a good guide somewhere that could help me get started?

Also, I've heard these things get loud. Is it so loud that if it's, say, running in my garage that it will bother my neighbors or be intrusively loud in my house?

Submitted May 31, 2018 at 01:12AM by ricardotown http://bit.ly/2srcIfl

My old dad paid for a haircut in Spain with Bitcoin today!

My old dad (he's 89) got a haircut in Marbella Spain today and paid for it with bitcoin, using his phone!Here's the notice for Bitcoin in the shopHere he is actually getting his haircutThe fee was 18 Euros or 0.00280666 Btc.She produced a QR code on her phone and he read it with his and paid her.She said she had had the Bitcoin notice up for two years and it was the first time she'd used it! via /r/Bitcoin http://bit.ly/2sjEjzU

Seattle First Blockchain Conference Next week

http://bit.ly/2LEc1bn

Submitted May 30, 2018 at 11:56AM by hackapreneur http://bit.ly/2J1wjKa

Innosilicon released T2's today. 17.2TH at 1430W

http://bit.ly/2LGpsHM

Submitted May 31, 2018 at 12:26AM by Blazerfan503 http://bit.ly/2J5hw11

Bitcoin $BTC transaction fees reach a 7-year low.

http://bit.ly/2H4ohyi

Submitted May 30, 2018 at 04:19PM by Galarinos http://bit.ly/2IWp1vl

Bitcoin is distinct from all the centrally controlled securities (ETH, ICO's and many other alts). Satoshi's wisdom was not only in its creation but also in stepping back. Lack of central authority is why Bitcoin endures. Nobody to pay for marketing campaigns is a feature.

https://twitter.com/wtogami/status/974190613905027073?s=09 via /r/Bitcoin http://bit.ly/2Jh9x4h

Lightning App v0.2.0 soon to be released

http://bit.ly/2xrUNet

Submitted May 30, 2018 at 04:09PM by amorpisseur http://bit.ly/2shSEN9

Hodling onto my prediction from nine months ago

http://bit.ly/2JgUEPr via /r/Bitcoin http://bit.ly/2L8cC46

BCH users: Lightning Network doesn't work. Nothing to see here.

http://bit.ly/2J2jI9L

Submitted May 30, 2018 at 02:30PM by Elwar http://bit.ly/2sjhn3X

Bitcoin $BTC transaction fees reach a 7-year low.

http://bit.ly/2H4ohyi via /r/Bitcoin http://bit.ly/2IWp1vl

The Future of Bitcoin Mining Won’t Involve Unsustainable Energy Consumption for Casper

http://bit.ly/2xxgERQ

Submitted May 30, 2018 at 07:59PM by tordirescu http://bit.ly/2sj4BCB

Right about now would be a good time to convert your euro's into bitcoin.

Certainly if your are living in Italy

Italy could be the next Greece — only much worse

Submitted May 30, 2018 at 08:28AM by phlogistonical http://bit.ly/2sphE4z

In 2014. people were mocked for buying at 1000$. Same thing is now.

http://bit.ly/2spgztt

Submitted May 30, 2018 at 01:22PM by maestro_7 http://bit.ly/2IVQIo3

Before Crypto Vs After Crypto

http://bit.ly/2snEBFi

Submitted May 30, 2018 at 01:30PM by BriefShift http://bit.ly/2kyg10I

Seen in Shibuya

http://bit.ly/2J02km5 via /r/Bitcoin http://bit.ly/2sj4HtP

Lightning App v0.2.0 soon to be released

http://bit.ly/2xrUNet via /r/Bitcoin http://bit.ly/2shSEN9

BCH users: Lightning Network doesn't work. Nothing to see here.

http://bit.ly/2J2jI9L via /r/Bitcoin http://bit.ly/2sjhn3X

Daily Discussion, May 30, 2018

In 2014. people were mocked for buying at 1000$. Same thing is now.

http://bit.ly/2spgztt via /r/Bitcoin http://bit.ly/2IVQIo3

Crypto in Times Square

http://bit.ly/2shJe4m

Submitted May 30, 2018 at 04:50AM by Steve-Jobs-_- http://bit.ly/2J1ZQUl

Looking for S9 Firmware!

So one of my miners has a stupid fan issue and I cant figure it out, I think it may be the firmware for some reason. The one from BITMAIN does not work for me. I ordered my miners Nov.-Dec of 2017. Theyre 13.5 TH AutoFrequency. If someone can share a properly working firmware with me to try out that would be greatly appreciated, Thank you.

Submitted May 30, 2018 at 02:56PM by TSGoofy http://bit.ly/2xqEv5j

Tuesday 29 May 2018

⚡ New Lightning-enabled store to buy games for Steam/Origin/Uplay/Battle.net: Joltfun

Hello everyone!Today I'm happy to introduce you to a project I've been working on since the past few months: Joltfun.comThis is a store that offers you to buy games with the Lightning Network for popular venues such as Steam/Origin/Uplay/Battle.net.Not only can you use bitcoin as a currency, but over Lightning it comes with the advantage of instant delivery: no need to wait for lengthy confirmations, you get game codes in seconds, ready to be activated.See it in action with this video: https://youtu.be/R1fvHS8D5ewFeel free to open a channel to our node at: 02977901c53b5299c7641acf11d49a46f0957e9e3f8191e6171d1222486d872317@54.37.22.216:9889If you don't feel #reckless enough to use Lightning yet or if it's not working for you (remember, the network's still pretty much in beta), don't worry on-chain payments are supported as well. We process transactions directly to our own Segwit-enabled wallet and without going through nasty intermediary payment processors charging high fees (if you know what I mean). In that case, orders are processed after just 1 confirmation.Please note that since our node is brand new, it's currently lacking some channels, so don't be surprised if routing fails at first. Hopefully as more channels are opened that's going to improve over time.Enjoy! via /r/Bitcoin http://bit.ly/2sidM5W

Bitcoin is the Best Digital Currency to Buy: Spencer Bogart

http://bit.ly/2IXkO6x

Submitted May 29, 2018 at 08:02PM by OnlineBlow http://bit.ly/2siQHA8

My mining setup, any criticism?

http://bit.ly/2LFZy71

Submitted May 29, 2018 at 10:02AM by chicken-man-12 http://bit.ly/2KZcrrC

Bitcoin expectations: deal wit it!

http://bit.ly/2shoLN0

Submitted May 29, 2018 at 09:56PM by cryptohoney http://bit.ly/2H3KQU8

Bitcoin 2018: January vs May

http://bit.ly/2kwlHbH

Submitted May 29, 2018 at 09:40PM by yenilmez86 http://bit.ly/2GZkm5O

ASIC VS GPU?

Can we stablish a discussion of the pros and cons of each? Also have you guys heard about using the computing power of multiple GPUS for other purposes after it becomes unprofitable to mine?

Submitted May 29, 2018 at 10:13PM by acolmena26 http://bit.ly/2IXHJie

Antminer S11...

So I'm gonna take a guess here based on Bitmain's prior behavior.

The next-gen GMO miners are set to go on sale on or around June 6. Bitmain like to screw their competitors and release their new miners right before. So I'm guessing we'll be getting new ASICS real soon. Sometime between June 6 - right after the coupons expire.

Also, because people will be paying in BTC, bull run shortly after that.

Submitted May 29, 2018 at 10:46PM by THE_REAL_WET_WILLY http://bit.ly/2sfM6Pe

Bitcoin v0.16.1rc1 tagged on Github

http://bit.ly/2shAyLj

Submitted May 29, 2018 at 02:46PM by giulio92 http://bit.ly/2GZRYAz

Bitcoin expectations: deal wit it!

http://bit.ly/2shoLN0 via /r/Bitcoin http://bit.ly/2H3KQU8

Bitcoin 2018: January vs May

http://bit.ly/2kwlHbH via /r/Bitcoin http://bit.ly/2GZkm5O

Bitcoin: "2018 January - May" Everything started in January.

http://bit.ly/2sdqao4

Submitted May 29, 2018 at 04:53AM by yenilmez86 http://bit.ly/2xkGvMx

If you haven't used the Bisq exchange (decentralized) you should give it a try

I recently downloaded the software and I have been very impressed so far. It is quite easy to install and setup.

Now that localbitcoins.com requires ID, this is the easiest way to buy bitcoin anonymously. It's also much less scammy.

Decentralized exchanges are the only way to prevent governments shutdowns and interference. Think BitTorrent for buying and selling Bitcoin.

I highly recommend trying out a small order so that you are familiar with how things work. The volume is quite low at the moment so this would help the network grow.

I am not affiliated with bisq in any way. Just trying to spread awareness that it's out there and that it works great.

Submitted May 29, 2018 at 10:42AM by Fly115 http://bit.ly/2sbj6rZ

Cryptocurrency Mining Shifting Away from Energy-Intensive Proof of Work, Part 1

http://bit.ly/2IYsV2P

Submitted May 29, 2018 at 09:57PM by tordirescu http://bit.ly/2LEKAyh

Bitcoin: Stuff like this... it's amazing

http://bit.ly/2L0RFbh via /r/Bitcoin http://bit.ly/2LzVLIB

Czechia Installs 10 New Bitcoin ATM in Prague’s Subway System

http://bit.ly/2L2SXm4 via /r/Bitcoin http://bit.ly/2JbmRqX

Bitcoin is the Best Digital Currency to Buy: Spencer Bogart

http://bit.ly/2IXkO6x via /r/Bitcoin http://bit.ly/2siQHA8

Market manipulation or just a coincidence?

http://bit.ly/2sbj4QT

Submitted May 29, 2018 at 01:08PM by JakeBroughton http://bit.ly/2IYqyNk

Sold at the right moment for the run...

http://bit.ly/2xodn7g via /r/Bitcoin http://bit.ly/2ITjTbd

Today is exactly 2 years till the halvening

http://bit.ly/2ITH9SA

Submitted May 29, 2018 at 06:57AM by outofofficeagain http://bit.ly/2IS94Gw

New ICO! Let's see which pools will be going to join this project!

http://bit.ly/2sfg0D9

Submitted May 29, 2018 at 07:00PM by CryptoNotess http://bit.ly/2GX3U6k

Bitcoin v0.16.1rc1 tagged on Github

http://bit.ly/2shAyLj via /r/Bitcoin http://bit.ly/2GZRYAz

Daily Discussion, May 29, 2018

If you haven't used the Bisq exchange (decentralized) you should give it a try

I recently downloaded the software and I have been very impressed so far. It is quite easy to install and setup.Now that localbitcoins.com requires ID, this is the easiest way to buy bitcoin anonymously. It's also much less scammy.Decentralized exchanges are the only way to prevent governments shutdowns and interference. Think BitTorrent for buying and selling Bitcoin.I highly recommend trying out a small order so that you are familiar with how things work. The volume is quite low at the moment so this would help the network grow.I am not affiliated with bisq in any way. Just trying to spread awareness that it's out there and that it works great. via /r/Bitcoin http://bit.ly/2sbj6rZ

Market manipulation or just a coincidence?

http://bit.ly/2sbj4QT via /r/Bitcoin http://bit.ly/2IYqyNk

Monday 28 May 2018

I've been mining bitcoin for 30 months. Here are some VERY interesting facts:

Tl; Dr --- Just skip to the last paragraph.I have met with numerous large mining operations in the last two years (in the US, a few countries in Europe and China). I have seen a lot of different ways to set up mining centers.The miners who pay the least in electricity pay about $0.03 per kwh. These are miners based in Washington State and some small operations in the European Alps. Both of these operations use hydro power.Chinese miners pays about $0.04 per kwh. Some pay a little less and some pay a little more.Some miners are inefficient at cooling and some are very efficient. Using HVAC is the most expensive. The small operations in the Alps are using the natural cool air to cool their miners. This seems to be the most cost-effective. The next most cost-effective is liquid submersion cooling.Natural air-cooled mining centers are the cheapest to build. They basically just need fans to pull in the cool outside air and exhaust fans to exhaust it. These systems add about 5% in energy consumption for each miner.HVAC is pretty costly to purchase and adds about 25% in energy consumption to each miner.Liquid submersion cooling is very expensive to build but it is the most efficient. You can disconnect the cooling fans when the miner is submerged in liquid. This saves about 8% on energy usage per miner. So, liquid submersion cooling actually SAVES energy costs BUT it is crazy expensive to build.S9 miner = 0.00082 btc per day = $6 per day Cost of electricity for each S9 miner = $1.25 per day Cost of electricity for each air cooling for each S9 = $0.07 per day Cost of electricity for HVAC per S9 = $0.25 per day Cost of electricity for liquid cooling per S9 = $0 per daySo, the miners who pay $0.03 - $0.04 per kwh AND spent the millions on liquid submersion cooling are the miners who can remain running the longest when the price drops substantially.People feel that Bitmain has a distinct advantage in mining because they build the miners AND they run them as well. I have determined that this is NOT an issue at all for large miners who purchased their systems prior to February, 2018. If you purchased your miners before the recent drop really kicked in (around February) then you could have sold them after purchasing for a profit of $1,000 (then you would, obviously, immediately re-purchase). This will put your cost of each miner in line with Bitmain. Thus...you are on even ground with them as a competitor.Most large miners bought their equipment and built their mining infrastructure when the price was rising. This means that most large miners are in VERY good positions because their infrastructure is likely paid off.So, the best miners are currently making about $5 per day in profits for each miner. And the best of the best are making about $6 per day.Bitmain has had the same miner for a long time. There has been no risk in owning this "old tech" for much longer than you'd own a server in a data center without any upgrades.So, what does it all mean? Well, if the largest miners have already paid for their miners and infrastructure (which they have), then these largest miners can still be profitable at a bitcoin price of $2,000 now, which is their cost to mine 1 btc.The price is pulling towards $7300 right now. Some mid-sized miners will start to shut down, temporarily, at about $7000 because they did not follow my plan of selling their miners after 3 months of use (then re-purchasing)....and they pay $0.11 per kwh for electricity. Oh...and they did not invest in the best infrastructure. So $7k-ish is their break-even.I pay $0.00 per kwh for electricity because I built an off-grid, solar operation in the middle of the desert. And my exisiting miners have an average cost of $0 since I bought the miners over a year ago and I sold them after about 3 months of use (then I bought new ones from Bitmain). I'm NEVER gonna stop mining, regardless of price. But I only have about 1,000 miners. I think there are about 2 million miners currently working. I am not even noise on the network.Bottom line: The majority of miners on the network are run by large miners. Mid-sized miners are going to start turning off around $6800-7000. I'm curious to see what happens if it drops to this level for a while. SUPER curious. I want to see what happens when it is JUST the few big guys.**Edited to explain the difference between BIG guys and medium guys. $2k is the ACTUAL BREAK-EVEN price for the biggest players. A Bitcoin price of $0 is BREAK-EVEN for me but I don't move the needle....however I will keep mining til my equipment dies. For sure. via /r/Bitcoin http://bit.ly/2L4M0Rv

PSA: Bitcoin is not an MLM, there is no need to "convince" your friends and family to "invest".

If they are interested, they will ask. via /r/Bitcoin http://bit.ly/2ximcQ0

Bitcoin C'mon Do Something....

https://gph.is/2IQVK5b

Submitted May 28, 2018 at 08:01PM by BriefShift http://bit.ly/2sk6RbQ

Coffee smells for dinner — Steemit

http://bit.ly/2sqRy1d

Submitted May 29, 2018 at 12:12AM by Adventurous_Field http://bit.ly/2JcxzgN

I'm finally done, I poured my heart and soul into this Bitcoin explainer. Please let me know what you think. (posted on Art of the Problem's YouTube channel)

https://www.youtube.com/watch?v=ZKwqNgG-Sv4 via /r/Bitcoin http://bit.ly/2LCAjCA

Watching this video from 1999, I couldn't help but think of crypto. The early days naysayers. The massive, old-school establishment that was about to be toppled. Fun and interesting to travel back in time: Jeff Bezos & Amazon - An Inside Look (1999)

https://youtu.be/fjjUOemW-_Q

Submitted May 28, 2018 at 02:34PM by skepticalspectacle1 http://bit.ly/2GUkXWt

When you finally convinced your friend to invest and he just lost everything

http://bit.ly/2xriPq2

Submitted May 28, 2018 at 09:07PM by tumirofr1990 http://bit.ly/2Jg5ghT

There are 180 different scenarios where bitcoin go. If any one thing happens remember me i am the first one to predict this

http://bit.ly/2xkg0GZ

Submitted May 28, 2018 at 09:55PM by bitnext http://bit.ly/2JbGVtm

No altcoin is decentralized - an interview with Jimmy Song

http://bit.ly/2L1eTxT via /r/Bitcoin http://bit.ly/2Jd8jqI

When you finally convinced your friend to invest and he just lost everything

http://bit.ly/2xriPq2 via /r/Bitcoin http://bit.ly/2Jg5ghT

There are 180 different scenarios where bitcoin go. If any one thing happens remember me i am the first one to predict this

http://bit.ly/2xkg0GZ via /r/Bitcoin http://bit.ly/2JbGVtm

Looking for New Way to Donate During Ramadan? London Mosque Now Accepts Bitcoin

By REUTERS via NYT Europe https://nyti.ms/2GUzCkF

One GIF to remind all of us what Bitcoin's true purpose is

http://bit.ly/2IPNwui

Submitted May 28, 2018 at 06:38PM by EntuCryptoMan http://bit.ly/2slaSN2

When you hear someone saying "Bitcoin is dead"

http://bit.ly/2ktXX84

Submitted May 28, 2018 at 05:02PM by coinocean http://bit.ly/2GX5oNQ

Bitcoin C'mon Do Something....

https://gph.is/2IQVK5b via /r/Bitcoin http://bit.ly/2sk6RbQ

Prague Subway System Now Has Ten New Bitcoin ATMs

http://bit.ly/2xjF6pr

Submitted May 28, 2018 at 05:10PM by Anastasia_Dream http://bit.ly/2seDt7H

When you hear someone saying "Bitcoin is dead"

http://bit.ly/2ktXX84 via /r/Bitcoin http://bit.ly/2GX5oNQ

Venezuela Turns to Bitcoin Mining as Hyperinflation Reaches 18,000%

http://bit.ly/2IUbZup

Submitted May 28, 2018 at 07:36PM by dragonstail1111 http://bit.ly/2IRfFBd

One GIF to remind all of us what Bitcoin's true purpose is

http://bit.ly/2IPNwui via /r/Bitcoin http://bit.ly/2slaSN2

Unrealistic mining contract for such a high price from z.com GMO Internet mining business? avg $2.20 per 10 GH/s 2 year contract

http://bit.ly/2GXJEl0

Submitted May 28, 2018 at 06:27PM by tohchi http://bit.ly/2kwlVPY

Frank Abegnale (FBI): "[Blockcchain] is an incredible technology which will eventually be adopted by all banks, governments, and corporations"

https://youtu.be/0AHHo9OXiwE?t=40m35s

Submitted May 28, 2018 at 06:17AM by Fly115 http://bit.ly/2LBZDJd

Watching this video from 1999, I couldn't help but think of crypto. The early days naysayers. The massive, old-school establishment that was about to be toppled. Fun and interesting to travel back in time: Jeff Bezos & Amazon - An Inside Look (1999)

https://youtu.be/fjjUOemW-_Q via /r/Bitcoin http://bit.ly/2GUkXWt