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[Updated Jan 2020] How many Irish Subs are there really?
The first time I made this post I had uncovered 500+ Irish related subs on reddit, from the abandoned to the large. This was some time in 2016ish and I have continued to try and track as many new subs as I can. Below is the updated list, again including some of the Discord Servers & useful other external links (although not counted) and the count stands at 710 plus some redirects/banned subs/karma farms. I have also continued to included some of the North American Subs that could be mistaken for Irish just for information. As you can see from the notations many, many of them are inactive but it's more about finding as many of them as possible than anything else. If anyone knows of, or can find, new ones not listed below, throw them in the comments and I'll add them to the list. A rich vein of new ones continue to be towns etc, people from Ireland (bands etc) and products. To any owners of Discords that appear on this list or not, let me know of perma invitation links as I know some of the below have expired but I'd rather have them as reminders/ place holders than not. Notes: To anyone who owns a sub...put a description in the bleedin' sidebar! (Growing is easier if people don't have to guess what the sub is for) If you find a sub you might like to resurrect you can head over the /redditrequest and request to take it over. See their sidebar for full rules and process. (P) = Currently Private Sub (O) = Out of Use (m) = Authors Notation (NI) = Northern Ireland (R) = Redirects
Link to previous Bonus post. I appreciate everyone's kind words, so here's a second part for today. Monday night Steph's workstation wouldn't boot so I investigated it. Turns out somehow the motherboard power cable became unseated. I've never seen that happen naturally, but it's possible. It's also possible that she was looking to take RAM for her home machine. Mental note: Inventory serial numbers of all hardware in case of theft When I got back to my office Monday night I had a new email from Jeff saying that the RAM I pulled had been earmarked for something else and that I needed to get it back. Fair enough, I didn't ask before giving it to Tammy. So I shot an email off to her asking her to bring her laptop into my office on Tuesday and then left for the night. Tuesday morning I was dragging ass, so I stopped and grabbed a Monster Absolute Zero and sat in my office thankful that there wasn't a new box of laptops to repair. after 10 minutes Tammy barges in my office
Tammy: What do you mean you have to take the computer memory back? Me: It was supposed to go to another project and it wasn't mine to give you. I can give you the original 1GB and put in a request to get you bumped up to 2GB.
It was obvious at this point she had come to my office without the laptop.
Me: Can you go grab your laptop? I'm really really sorry about this
And with an exaggerated sigh she left and returned a few minutes later with her laptop. I swapped the RAM out and handed it back to her. As she was leaving she decided to get the last word in
Tammy: This is SO unfair! Me: Do you know what the company does here? Tammy: Talk to Jeff
She said as she was walking out. I send an email to Jeff letting him know I was able to get the RAM back and tossed it on my desk.
From: Jeff To: Pavix Subject: RE: Tammy Just leave it on your desk. I'll grab it later.
I check the shared mailbox, there's a new email
From: Liz To: shISMbox Subject: Acrobat Pro licensing I have Acrobat Reader. Can you get me Pro?
I forward it to Jeff since I don't know what system they use for tracking licenses in the company. I decided to take this opportunity to wander around the building to see if I can find where the servers are housed. With the fiasco that happened last time I was in the Restricted room I decided to stay out of there for the time being. I found over a dozen offices down hallways, and various restrooms. Then I saw it, A steel door. They use those when there's a fire risk to protect the rest of the building. This must be it. I open the door and it's arctic in there. Now I feel like I should explain, I'm normally ok with cold weather. I actually prefer it. When it's 30° F I'm not wearing a coat. You'd actually be hard pressed to find me wearing a coat at any point during an Iowa winter. So when I say it's artic, it's VERY cold. And it becomes apparent why, in the back are 2 giant AC units pumping cold air into this tiny room. There's not much in here, a pair of 13U telecom racks, a set of switches, a router and about a dozen servers. Why would they put so much cooling in this room? At least they have hostnames for the servers on stickers. I take out my phone, grab pics for later documentation of the infrastructure. I leave and Jeff is walking down the hall
Jeff: There you are. We thought you got lost Me: Nope, but I did find the server room Jeff: Great. You'll need to know where it is in case anything crashes. Me: So why is it so cold in there? Jeff: It's to cool the farm Me: The farm? Jeff: That's what we call that room with all the machines Me: Umm...how is cooling this room helping that room? Jeff: Jen said that most rooms have a "return air" vent. She said that if we route that return air vent to the farm that it will cool it Me: ...........
E: 2 hours it took for this to need a new one added - New Count 619620623625 632 This time last year I made this post and had uncovered 500+ Irish related subs on reddit, from the abandoned to the large. Below is the updated list, now including some of the Discord Servers & useful other external links (although not counted) and the count stands at 618619620623625 632 plus some redirects/banned subs/karma farms. I have also included some of the American Subs that could be mistaken for Irish just for information. As you can see from the notations many, many of them are inactive but it's more about finding as many of them as possible than anything else. If anyone knows of, or can find, new ones not listed below throw them in the comments and I'll add them to the list. A rich vein of new ones are towns etc, people from Ireland (bands etc) and products. Notes: To anyone who owns a sub...put a description in the bleedin' sidebar! If you find a sub you might like to resurrect you can head over the /redditrequest and request to take it over. See their sidebar for full rules and process. (P) = Currently Private Sub (O) = Out of Use (m) = Authors Notation (NI) = Northern Ireland (R) = Redirects
The Toomin brothers, Bitcoin Classic's main devs are debating Core devs and trying to show them the light. It gets quite fishy at the end.
Join here: http://slack.bitcoincore.org Start somewhere here: https://bitcoincore.slack.com/archives/general/p1453096627008444 Some extracts: Michael Toomim [8:06 AM] Satoshi believed the only way to prevent control is to give everyone a copy of the ledger. [8:06] Give everyone an opportunity to vote. eric-ledger [8:06 AM] @mtoomim: I think you are delusional Michael Toomim [8:06 AM] Give everyone an opportunity to transact. anduck [8:06 AM] mtoomim: bitcoin classic is against that, too. [8:06] as you very well know.(edited) Michael Toomim [8:06 AM] We give everyone an opportunity to upgrade the protocol. Adam Back [8:06 AM] mtoomim: do you understand why the developers of bitcoin used to propose a HF but switched to a SF once it became clear that it was possible because it is safer and faster? Michael Toomim [8:06 AM] You can take part in bitcoin. [8:06] You can add yourself to it. [8:06] Express yourself on consider.it. anduck [8:06 AM] are you a bot? Michael Toomim [8:07 AM] Are you a bot? dts [8:07 AM] I'm convinced, I welcome our new pot smoking master James Hillard [8:07 AM] @opet: when did I ever refer to you as being part of the uneducated masses? Michael Toomim [8:07 AM] Do you wanna speak bot? Bleep Bleep Bloop! [8:07] 1010111 Adam Back [8:07 AM] opet: "it's an image and communication problem." this is agreed Michael Toomim [8:07 AM] What's your favorite wave? Mine's triangle. eric-ledger [8:07 AM] you sound like a cultist anduck [8:07 AM] mtoomim: quit advertising your platform Michael Toomim [8:07 AM] Haha I'm just stoned guys. Adam Back [8:07 AM] lol Michael Toomim [8:07 AM] Cultists do get stoned a lot. [8:07] But I'm just stoned. Adam Back [8:07 AM] mtoomim: are you serious? Michael Toomim [8:07 AM] You're mistaking correlation with causation. dts [8:07 AM] If any miners are here, please pay attention to @mtoomim words Michael Toomim [8:07 AM] Yes I'm serious. Do you not believe me? Test me! anduck [8:08 AM] mtoomim: so how much did you pay the miners? 0 or more Michael Toomim [8:08 AM] I'd love more attention. I love attention! [8:08] What? I am the miner! [8:08]https://toom.im Toomim Bros. Bitcoin Mining Concern Toomim Bros. provides hosting for bitcoin mining. Our mining center is powered by some of the most wallet- and climate-friendly power in the world. eric-ledger [8:08 AM] meltdown anduck [8:08 AM] as stated earlier, it's a valid concern that you may have paid miners. you offered money to other to do things that people have been doing for NO money earlier. Michael Toomim [8:08 AM] I pay myself every day. anduck [8:08 AM] @mtoomim: did the miners get paid to express support for Classic or not? Adam Back [8:08 AM] mtoomim: are you literally stoned? you may want to unplug for a while. Nicolas Bacca [8:09 AM] At that point I think the best course of action is to demonstrate to the miners that segwit works well with multiple wallets and that well, one team is slightly more serious than the other one. Michael Toomim [8:09 AM] No they didn't get paid. Duh. The miners have all the money. They are the ones who pay. dts [8:09 AM] It is legal in Washington State as far as I know taek [8:09 AM] @mtoomim: you keep trying to flatter us. We don't work for free. We are not impressed with the direction you are taking things and we don't feel inclined to work on your vision. Ours is in the process of being shredded to pieces, why do you think we will maintain morale and motivation? James Hillard [8:09 AM] I hardly consider a sub MW mining operation to be much of anything at this point. taek [8:09 AM] ugh anduck [8:09 AM] mtoomim: thanks Michael Toomim [8:09 AM] Yeah it's legal here. 1 Colin Delargy [8:09 AM] I don’t think I could think of something more off topic. 1 Michael Toomim [8:09 AM] @taek I don't give the vision. YOU give the vision. Come give it. [8:09] I just create a place for you to talk and listen. dts [8:09 AM] @mtoomim: you really aren't doing yourself any favors Michael Toomim [8:10 AM] I'm hosting the forum. eric-ledger [8:10 AM] this is insane p2phash [8:10 AM] funny though dts [8:10 AM] I hope this is saved for posterity Adam Back [8:10 AM] mtoomim: i dont think yes. i think you should go sleep it off. Michael Toomim [8:10 AM] This is great! I love this conversation guys! eric-ledger [8:10 AM] doe anyone know for sure he is the real Michael Toomim? Michael Toomim [8:10 AM] You are real fun. dts [8:10 AM] he verified his email as the same one on Classic Slack Michael Toomim [8:10 AM] Nobody texted me. [8:10] :stuck_out_tongue: gamersg [8:10 AM] mtoomim: If SW via SF increases effective block size to 2MB, why are you pushing for a 2MB HF (honest qsn) Michael Toomim [8:10 AM] Text me a random code at +++++++++++++ Adam Back [8:11 AM] eric-ledger: oh maybe it's a look alike account. dts [8:11 AM] why do you have an Oakland number Michael Toomim [8:11 AM] Because the people who voted aren't pushing for it. [8:11] I went to school at uc berkeley. Colin Delargy [8:11 AM] content style matches https://www.reddit.com/usetoomim reddit: the front page of the internet p2phash [8:11 AM] @gamersg: not a full 2mb of transactions really is it? anduck [8:11 AM] gamersg: that's been asked like hundred times. he refuses to answer. taek [8:11 AM] I do feel like I've been properly baited. @mtoomim: my vision is a cryptocurrency that is immune to political influence. That vision does not seem to be present in the current ecosystem Michael Toomim [8:11 AM] @dts are you nearby? dts [8:11 AM] that explains the pot Michael Toomim [8:12 AM] haha Yeah it does. [8:12] And acid judahmu [8:12 AM] we liked dts better as luke-jr dts [8:12 AM] I'm flattered James Hillard [8:12 AM] Is this what future bitcoin development conversations are going to look like? 1 dts [8:12 AM] Yes he is the real deal, not a troll, kind of unbelievable James Hillard [8:13 AM] This is insane oneeman [8:13 AM] tomorrow is a holiday taek [8:13 AM] :} dts [8:13 AM] He did go to UC berkeley and slack sends you an email to verify it oneeman [8:13 AM] as good a day as any to cut loose, I guess drdave [8:14 AM] joined #general Adam Back [8:15 AM] are we sure mtoomim is actually michael toomim? wasnt it toomim before? anduck [8:15 AM] it's michael toomim [8:15] changed nick to mtoomim Brian Hoffman [8:15 AM] What a cluster fuck Michael Toomim [8:15 AM] @taek There are politics in every social system. Our job is to improve them. That's why we made Bitcoin Classic. The problem with politics is that they get in the way, and so make political communication more efficient, so it gets out of the way. Adam Back [8:16 AM] anduck: well he said that, but what if that itself was a spoof? anduck [8:16 AM] @adam3us: the email looks legit, at least Adam Back [8:16 AM] mtoomim: what hashrate does toom.im have? Michael Toomim [8:16 AM] We are the first forum that can visualize over 1,000 opinions on a single page. dts [8:16 AM] less than 1% Michael Toomim [8:16 AM] We scale. Adam Back [8:16 AM] so email him a code see if he can answer it? Luke-Jr [8:16 AM] what's the invite link again? Michael Toomim [8:16 AM] @adam3us: We only have a small amount. Most of our capacity goes to customers who host with us. Adam Back [8:16 AM] slack.bitcoincore.org Michael Toomim [8:17 AM] We have 750 kW of power capacity. dino_m [8:17 AM] joined #general dts [8:17 AM] @btcdrak: should put it on the front page of bitcoincore.org :confused: Luke-Jr [8:17 AM] thx. what is the share rules for this link? dts [8:17 AM] it's posted already on there just hidden behind "contribute" Luke-Jr [8:17 AM] k, so public Michael Toomim [8:17 AM] So you can multiply 750 kW by the average efficiency to get the hashrate at our facility. kang [8:18 AM] joined #general Michael Toomim [8:18 AM] Text me it's faster. Patrick Strateman [8:18 AM] @mtoomim: well divide by x and carry the... <1% oneeman [8:18 AM] someone in ##bitcoin asked a day or two ago if maybe bitcoin classic was just a viral marketing ploy for consider.it ... 2 Michael Toomim [8:18 AM] Probably anduck [8:19 AM] oneeman: well it certainly looks like so [8:19] mtoomim has advertised it like 10 times in an hour oneeman [8:19 AM] I thought the question was a joke, but now I'm not so sure anduck [8:19 AM] and nobody still cares about it. Michael Toomim [8:19 AM] And we're all a viral marketing campaign for bitcoin! 2 Patrick Strateman [8:19 AM] @oneeman: lold Michael Toomim [8:19 AM] Ok what am I not answering now? anduck [8:19 AM] mtoomim: read the log. [8:19] please. Michael Toomim [8:19 AM] Come on! Adam Back [8:19 AM] mtoomim: nice. yes coincidentally i had looked at your hosting service for some miners i had a while back. Michael Toomim [8:19 AM] It's so long [8:19] You talk fast [8:20] I've responded very well to everything I've been able to tackle anduck [8:20 AM] you're already deeming others to do the btc deving work for you, don't make us read the logs you should read(edited) Michael Toomim [8:20 AM] I want you to choose [8:20] There are a lot of options up there Patrick Strateman [8:20 AM] @mtoomim: Would you be OK with a world in which virtually all Bitcoin users run SPV clients and only a handful of trusted third parties operate full nodes? alie1 [8:20 AM] joined #general Michael Toomim [8:20 AM] You get power, you can choose what I talk about! [8:20] Good question! [8:21] Ok, so I need to answer this well. Give me these numbers:
The percent of SPV clients
The number of full nodes
[8:21] I'll give you my opinion. James Hillard [8:21 AM] toomims hosting service is small peanuts in the scheme of things, I manage multiple MW scale large farms in multiple countries and even then have only about 1% of network hashpower Michael Toomim [8:21 AM] Good job James! [8:21] Congratulations! epscy [8:22 AM] joined #general Michael Toomim [8:22 AM] Hey can someone get Greg Maxwell? I love that guy! Patrick Strateman [8:22 AM] @mtoomim: 100 full nodes run by say blockstream, coinbase, mit, etc etc everybody else runs spv clients Michael Toomim [8:22 AM] I want him to work with Classic! Adam Back [8:22 AM] mtoomim: i sent you an email to auth your slack handle here dts [8:22 AM] yeah verify Adam Back [8:22 AM] can you paste or type the code in dts [8:23 AM] otherwise bravo on excellent trolling taek [8:23 AM] @phantomcircuit: I don't think conversation with mtoomim is going to go anywhere. Michael Toomim [8:23 AM] uploaded an image: Cool! Add Comment dts [8:23 AM] it's listed as his email in the classic slack Adam Back [8:23 AM] ok then. that's pretty confirmed. Michael Toomim [8:23 AM] Fuck yeah it is! Oliver [8:23 AM] @jameshilliard you inadvertently did so when you referred to those voting on consider.it and supporting Classic as the "uneducated masses." After all, I didn't give up my anonymity and finally get involved with bitcoin dev in any way until Classic arrived on the scene. There are many more exactly like me who have signed up to finally have our voices heard and votes counted. Some, like me, are incredibly sick of (and saddened) by the Core devs' seeming ignorance of the fact that it's NOT ok to completely ignore the wants of the community. I'm here now, and I'm here to help. My greatest desire is to somehow help bring Core and Classic together with a compromise. I'd like to see collaboration and an understanding that the road map requires a lot more than Core's blessing.(edited) Michael Toomim [8:23 AM] That's like, real! [8:23] It'd be so hard for me to photoshop that in 50 seconds [8:24] Photoshop sucks [8:24] I can do better in omnigraffle [8:24] and built-in OSX screenshotting [8:24] @phantomcircuit: That scenario is fucked up, dude! Everybody runs an SPV client? Sounds like fucking fascist china man! Luke-Jr [8:24 AM] considering how quickly my PR for Classic was shot down without discussion... frankenmint [8:24 AM] joined #general Michael Toomim [8:25 AM] I lived in china for 6 months man, it wasn't pretty with the government [8:25] I'm so glad the chinese are finding freedom with bitcoin eric-ledger [8:25 AM] @mtoomim: You should come back when you are not stoned; you are not helping yourself 3 Michael Toomim [8:25 AM] They need it! Luke-Jr [8:25 AM] lol dts [8:25 AM] uploaded an image: Here is his email listed in classic slack Add Comment Michael Toomim [8:25 AM] @eric-ledger: I'm loving this conversation! [8:25] I'm here to help you guys! eric-ledger [8:25 AM] well I do also love it James Hillard [8:25 AM] @opet: I didn't mean to imply that everyone voting on there is uneducated. Michael Toomim [8:25 AM] I want to make it easier to dev bitcoin! eric-ledger [8:25 AM] but it may come back and bite you in the ass Michael Toomim [8:26 AM] Haha [8:26] That would be fun! [8:26] Like a snake. Patrick Strateman [8:26 AM] @mtoomim: Do you not realize that scenario is exactly the one you're moving towards with classic? Michael Toomim [8:26 AM] Woah! No I don't! [8:26] Please tell me how that's happening! [8:26] How are we going to force everyone to use SPV clients? [8:27] That means that we have to force people not to run a full node. [8:27] Right now it's pretty easy to run a full node. [8:27] I run one on this laptop. [8:27] My laptop's only getting bigger and better every year. [8:27] And the democracy cares about this! [8:27] They won't let full nodes stop running on their laptops. elliotolds [8:27 AM] @opet: what do you think as this (proposed earlier by someone else here) for a compromise: in April we hard fork to 2 MB, then we do segwit later in the year, maybe October or something, but whenever Core is comfortable releasing it? (sooner is fine, even along with the April HF is OK if they want it then) Michael Toomim [8:27 AM] They want full nodes to run on their laptops! [8:27] They want it so bad! Patrick Strateman [8:27 AM] @mtoomim: so four or five tabs? 4 Michael Toomim [8:27 AM] I want it so bad! [8:27] I love bitcoin on my laptop! [8:28] It's like a girlfriend in your lap! [8:28] Isn't it? eric-ledger [8:28 AM] omg Michael Toomim [8:28 AM] Who wants to relegate her to the server room? dinbits [8:28 AM]
I'm here to help you guys! @mtoomim: Do you plan on saying anything helpful?(edited)
Michael Toomim [8:28 AM] That's for herems. [8:28] I support sexual equality! [8:28] @dinbits I want to be helpful! What would you like me to help you with? jdebunt [8:28 AM] joined #general Michael Toomim [8:28 AM] Or help other people with? dts [8:29 AM] what he's saying is very illuminating to me 3 Michael Toomim [8:29 AM] @phantomcircuit: I once took 4 tabs and went free-diving off the coast of hawaii. [8:29] Kapoho tide pools on the big island [8:29] That was so great! [8:29] I saw fish world. [8:29] Like the clan of the little cute white fish with the red stripe that swish you left and right. [8:29] I came up speaking in a new style. 1 1 justino [8:30 AM] joined #general Michael Toomim [8:30 AM] Every once in a while my words would disiintegrate into strange snap crackle popping, the sounds of fish world. [8:30] I called it a flubbergust. [8:30] It is the moment where your spirit veers into void and disappears. [8:30] It's when you are wrong. [8:30] In Bitcoin, we have a problem of admitting when we're wrong. [8:30] Because there's no data on it. elliotolds [8:30 AM] I wonder if this is some sort of Machiavellian plot, and later Jonathan will come in here and seem like the most reasonable person in the world in comparison 3 Michael Toomim [8:30 AM] We're giving you social data. [8:30] bitcoin.consider.it Nathan Cook [8:30 AM] shh, this is great Michael Toomim [8:30 AM] It tells you when you're right and wrong [8:31] So that you can learn [8:31] When you learn, you get better [8:31] And you get shit done [8:31] You can make changes to bitcoin dts [8:31 AM] I still can't quite believe it's you even with the proof Michael Toomim [8:31 AM] We are hardforking the blocksize limit to 2mb [8:31] Join us. anduck [8:31 AM] why not 6 mb? Adam Back [8:31 AM] i think it's him anduck [8:31 AM] it would allow more transactions Michael Toomim [8:31 AM] @dts wanna video chat me? Nicolas Bacca [8:31 AM] is there drug for everybody ? dts [8:31 AM] like my mind can't make the two parts fit together eric-ledger [8:31 AM] a selfie maybe? Michael Toomim [8:31 AM] Guys come meet me in tawk.space. I'll be online in 5 minutes. taek [8:31 AM] Things have gotten terribly off topic, I would like to request that people stop responding to the nonsense, and also stop encouraging it. There is more valuable conversation that is being blocked by the ridiculousness happening right now. Michael Toomim [8:32 AM] That's https://tawk.space. Use chrome or go home. dts [8:32 AM] let's rename this chat mtoomim's magical bus trip and make a new channel 4 kang [8:32 AM] Not before that selfie plz Michael Toomim [8:33 AM] hahaha jake7849 [8:33 AM] joined #general alie1 [8:33 AM] is this a joke ? jwade [8:34 AM] joined #general Michael Toomim [8:34 AM] Fuck! Tawk.space is down! Karthik!!!!!!!! [8:34] Can we make a group video chat in skype? [8:34] Oh a hangout
DECENTRALIZED FOOD DELIVERY SERVICE SALES BEGINS EARLY FEBUARY OUR MISSION In today’s world the technological development strides ahead very quickly. The trends of digitization and automation are already in full swing. The development of the Blockchain technology has led to a new trend– the trend of decentralization. There is not only one catchword to describe this process. The trend is rather a whole philosophy and mindset what shows the importance of cryptocurrencies. Pioneering projects like Ethereum, the DAO, Dash and many more show how decentralization can be defined in a new way with innovative business models, business processes, applications and other services. These projects are not only decentral in their technological architecture and partly in their political organization. They also give cryptocurrency’s owner the chance to be involved in the success. In these cases, the cryptocurrencies are both a means of payment and a profit sharing. The success of most cryptocurrencies is based on the clear disruptive potential. The cryptocurrencies have not reached their limits yet. They mainly function as investments or rather as a speculation medium and only for a few people as a means of payment. The adaption of the wide mass is essential if we want to push the decentralization with its advantages, visions and mindset to its limits. The full potential and the price stability show up when cryptocurrencies are used as a method to pay on daily basis. Our mission is to establish cryptocurrencies in millions of people’s everyday life’s This is the goal we want to achieve with sesame. Our food delivery platform is built on smart contracts on ethereum network. Our Sesame token will be as a native currency on our platform and opens many more features for token holders. Customers can use SST tokens as a payment option and get 15% discounted prices. You get SST as a reward for every submitted valuable review and shared or uploaded images and videos of their tasty foods or deliveries. We will have social network called SesameTalk - where customers share their recipes, thoughts and expressions from recent orders and many more. Customers can tip their delivery drivers for their awesome job. Our platform will be different from current platforms like grubhub and postmates by being on the blockchain which adds more transparency and trustless platform. no more fake reviews because of smart contracts only delivered orders will be reviewed and no more paid search options. The first step is to tokenize an on-demand delivery service for food. The idea behind is to create a usage with daily transactions. The application breaks classic structures because it is developed and expanded by the community (couriers, clients, restaurants and uninvolved ones) and not by a management that wants to make millions in profit. We care about communities’ needs and wishes. The vision is a decentral structure with a design that will be developed gradually. The aim is to create a common consensus that is on one hand competitive and allows a strategic goal-oriented procedure on the other hand. Furthermore, it increases the welfare of all participants in the system. INTRODUCTION - PROBLEMS Why an on-demand delivery service? The food industry services basic needs We spend more than one hour per day eating– in total this number sums up to 30.000 hours looking at a whole life and $100.000 (14% of our household income). As the food intake is a human basic need and will always be, the food industry is one of the oldest sectors in world’s history. The food industry’s annual sales in the European Union is more than 1.2 trillion. Therefore, it represents the biggest manufacturing industry in the EU (2016). On-demand delivery services – a sector with hypergrowth The delivery services sector is in change. In the past 15 years the so-called aggregators (software-only) dominated the delivery services – but in 2013 “new delivery services” arise and became the new stars. Those new delivery services undertake the task of delivering food from restaurants to people’s homes (on-demand) with an own fleet business. The advantages for restaurants are high flexibility as well as no fix staff costs. Thus, these concepts fit for high quality and unique restaurants and not only for typical fast food restaurants The concrete problems Despite the boom of new delivery services, they are in public critique. A lot of restaurants fight with high commissions (approx. 20-30%) and the couriers complain about exploitative working conditions and bad salaries. At the same time the known delivery services are losing sums over ten million dollar every year High commissions, low wages and still no profit The business model is highly rated because of its high range and the fast growth, but it still does not make any profits. The fast growth implicates the need of more personnel. Not only couriers are necessary but also staff for administration, sales, acquisition of couriers and staff planning. In addition, even more staff is necessary in the administration. It is common that those companies spend a lot of money for marketing campaigns like coupons, numerous giveaways, fancy poster advertisements and for opening up new delivery districts. Competition and commercialization against customer benefits – an expensive agent These high operating expenditures are necessary in the delivery service’s strategy. Important key terms are ‘round of financing’ and ‘flotation’ to ensure the financial survival of the business model as well as the growth. The company has to show a good performance in the contest, which is very expensive, to be attractive for investors. Therefore, it is no surprise that the restaurants and couriers are of secondary importance in this vicious circle. THE SOLUTION Decentralization Sesame token – we develop a service which is architectural and political usefully decentralized and possess all significant elements of an on-demand delivery service. It’s a great pleasure to announce to you all that sesame token will be out as a native currency on our platform which has a lot of outstanding features for token holders. Our client can use SST token as a payment option with an advantage of getting 15% discounted prices. You will get SST as a reward for every submitted value review, shared or uploaded images and videos of your tasty food or deliveries We also have social network called SesameTalk - where customers share their recipes, thoughts and expressions from recent orders and many more. Customers can tip their delivery drivers for their awesome job. Operative process In the order and delivery process a direct peer-to-peer connection of all participated instances will be established with a safe payment transaction and delivery handout. The part of expensive agents is not necessary. The participants in the process (restaurants, couriers and clients) are our focus. They are value creators and earning contributors. DEVELOPMENT In a project oriented Open Source Development user can push new developments and can hand in new global and local concepts. The respective board can vote for marketing campaigns, new features, etc. and can allocate a corresponding budget. THE TECHNICAL IMPLEMENTATION Introduction – What is blockchain technology? (This section gives a short overview on the Blockchain technology in a simplified presentation. There is no previous knowledge needed. For further information we advise you to search for deeper information about cryptocurrencies by yourself. If you are already familiar with the topic Blockchain and cryptocurrencies you can skip this part and start reading the next chapter) ‘Blockchain-technologies possess the potential to define the method of how we economize in a new way. Bitcoin is only a first representative.’ But what exactly is the Blockchain? You may probably know the term Blockchain if you think about Bitcoin. The easiest way of description is the comparison with a digital cash book. Network’s participants execute transactions with associated protocols. The so called ‘miners’ register these transactions. The miners verify transactions, combine them to new blocks and extend the Blockchain with the combined blocks. Sender and receiver get a transparent overview of how many coins/tokens have been transferred (in this case the Bitcoin-Blockchain ‘Bitcoins’) with this method. It is an anonymous method because senders and receivers are only listed with their ‘public key’ in the network. The miners always have a local image installed and they do not need to check it on a central server. Another advantage is the complex encryption which makes the Blockchain tamper-proof. Hackers who want to manipulate the cash book must control 51% of the mining network (network transactions). To gain this computing power, various large companies are insufficient. In addition, this theoretical approach is not a guarantee for a successful attack of the network. In practice, the older the logging of a transaction in the Blockchain, the more difficult is the manipulation. Therefore, the Blockchain is safer, the more miners take part in the network. The miner is being rewarded for the verification and the expansion of the Blockchain due to the designed protocol. Everyone can own Bitcoins, transfer them and take part as a miner in the mining-process. If we take a closer look on Bitcoin and its rising value we will see that a lot of mining-farms have been established in Asia to collaborate as a mining-pool. With this technology digital units (coins/tokens) are created and called cryptocurrency. Unlikely to common FIAT currencies (Dollar, Euro, etc.) there is no trust in a state or bank needed. The security is given by the Blockchain itself. A Blockchain-protocol is being programmed and released. Therefore, it does not have a possessor in its decentralized environment. If the protocol should be changed, the majority of the miners have to be convinced. The technology cannot be used as a cash book only but is also able to function as a data base for random information. The significant advantage is first that no central authority which provides servers is needed and second that this instance is not responsible for the security and validity of the transactions. The technology is seen as disruptive because this function is the common business model of a lot of service providers like banks, insurances, notaries, etc.) Why Ethereum? We feel confident with using the Ethereum-Blockchain as the perfect platform for sesame. Not only because of the large community but also because of the powerful programming language for developing smart contracts. Ethereum offers a various number of possibilities due to its programming language (Solidity) as well as the power to create new processes in different levels and to automatize them independently. Furthermore, the Ethereum core team will advance the platform’s development with new functions and more stability. In addition, a solution will be offered for scalability issues for example by using the sharding proposal or furthermore the plasma framework. SESAME TOKEN ECOSYSTEM The system is now able to show the available restaurants in the customer’s area. Simultaneously, uPath determines the predicted time of delivery range for each restaurant considering order volumes, distance and supplier availability. If the customer has selected a restaurant, the shopping cart can be put together checked again and a method to pay can be chosen. Then the delivery details, the shopping cart and the price included transaction fees (depends on the payment method) are displayed. After a final check the transaction can be performed. The customer gets the confirmation of transaction and the delivery process starts to show up. Payment To create a customer friendly experience also Fiat currencies (PayPal and credit cards) are accepted besides the sesame-Token due to an external interface. In addition, common crypto currencies should be available. For customers who are not familiar with crypto currencies, we want to provide the opportunity of using the sesame platform as simple as possible in sense of mass adaption Nevertheless, the whole protocol is bound to the sesame-Token. Thus, a direct exchange is mandatory. Therefore, an exchange service is implemented. Ideally, some of the planned decentral exchange solutions are fully developed and available as a service at that time. The user’s advantage to use the sesame-Token is that the customer’s will get 15% discounted prices. Furthermore, the usage of the sesame-Token should be rewarded with coupons in the launch phase depending on the budget available Delivery process After the order- and payment process has been completed, the delivery process begins. Customers are even eligible to order delivery to their doorstep, can even stroll out for pick up or book a table to eat in the restaurant. The deliverer gets the order confirmation while the restaurant prepares the order. The both protocols interact insofar as the pickup time of the dish can be predicted. In the meantime, the courier can drive to the restaurant and use the displayed route. After the courier has reached the restaurant a quantity visual inspection takes place. The courier validates whether the ordered number of dishes and drinks is correct. There is no need for the courier to check for absolute correctness because this is the restaurant’s responsibility and would make an efficient process impossible. After completing the visual inspection, the courier signs the goods’ acceptance. Then the courier will be led to the customer with the help of uPath or rather with the external map service. If the courier has reached the destination, the delivery takes place. The customer checks whether the order is quantitatively complete and signs the goods’ acceptance to finish the delivery process. Thereupon, uPayment transfers the commissions for the courier, the collectable amount for the local and global board as for the recruiter and the core team. The payment for the restaurant is blocked for approximately two hours via time lock. During that time slot the customer has the chance to open an additional claim, which in turn activates the uSupport protocol. If no customer reaction happens, the money will be transferred to the restaurant after the time lock has been expired. Signatures are being processed with code keys or QR codes. Both will be generated randomly, cryptographically and locally. They are stored on smartphone or other devices. If one of the signatures is absence the transaction cannot be fulfilled completely. Optimized cost structure We at sesame follow another approach and dissociate from the aggressive competition. Our aim is to minimize the administrative costs in favor of couriers and restaurants. Sesame is not a service that aims to establish an empire and has to spend high investments for self-marketing. Sesame is more a public accessible protocol which provides the automated and decentralized on-demand delivery service system. The official administration is limited to the core team, what provides system stability, develops legal bases and compiles (related to the financial volume) new developments. The expansion will be reached together with the community and the help of the decentral franchise concept. The original valuable process of the service will be automated and decentralized by the Blockchain and the uChain-Protocol. INITIAL TOKEN SALE
It’s a great pleasure to announce to you all that sesame token will be out as a native currency on our platform which has a lot of outstanding features for token holders. Our client can use SST token as a payment option with an advantage of getting 15% discounted prices. You will get SST as a reward for every submitted value review, shared or uploaded images and videos of your tasty food or deliveries.
At the initial token sale, the sesame-Token will be offered in a public crowd sale. In this context the ERC20 based as crypto currency, the terminus “Token” is correct. The term “Initial Coin Offering” (short ICO) has been established within the public sale of Coins or Tokens, which is equate to the term Token Sale .Sesame Tokens are sold for ETH.
[SF] Merry Christmas, Alvin or Caretaker of My Machine or The Matrix, Actually
"Merry Christmas, Alvin!" Talk about work from home. That Brando literally did nothing but mow his yard. It's so green, so perfect, but so is mine! So is everybody's! When the sun never stops shining, whose wouldn't be? With these new fertilizers the scientists told us about, who wouldn't be? Used to be the scientists would have to sweat over chemicals, hold vials and ampules and pustules and whatever it took to make that grass grow green, or to the right perfect height, or to be a little, I don't know, springier, lest prone to pests, less stressed by dandilions or crabs or whatever it was grass used to get. "Merry Christmas, Brando." I turn my back on the rows of spotless white fences separating grass greener than Chicago relish, across lanes and lanes of white sidewalks down perfectly paved roads with sparkling double yellow lines and bike lane bumpers for the kiddies. Not an automobile in sight. To trees taller and sturdier than ever, rooted deep in the most highly engineered soil, delivered whenever you want it by the Yard Squad. Just a bunch of guys with shovels and helmets and jumpsuits, sweating and jumping and loving every minute of it, and we bring them lemonade. Because nobody really works, not here. Not now. If you want to, you do. If you don't, you don't. Well, really we do, because we take care of the machines. But nobody really gets that. I walk inside, sliding the seamless glass door of my steel-and-concrete mansion, I guess it reads my face or my fingerprints, something glows and then the door opens, but just for me. Slippers slapping across the polished concrete, I set my coffee cup on the sideboard where Roomba (MY robot servant, so it does go both ways) can reach it and slump onto the couch. Another freakin' day in paradise. I don't know about this mood. Let's see who's online. "Battlefront 8", I mumble. Suddenly, there I am, alongside a few other lonely avatars bored out of their minds. There's not really war in these games anymore. I guess that's a sign of the times, huh, because there's not a lot of war out there either. The_Pax_Robota That's my screenname on BF8, I felt like it might be a little dated by now, a little braggy, but I like to have my little jokes. I used to be something, at least on my way to something. I thought I had found something nobody else had found. I had 3 air conditioners in both bedrooms and the basement, I was sleeping in the kitchen on a cot. I was workin' my ass off! I had 9 racks. Floor-to-ceiling, liquid-cooled, all the LEDs crushed to squeeze THAT much more profit per kilowatt-hour. Best GPUs you could buy, cranking at 99*, breakneck speed, mining BTC like it was G.O.L.D. I was onto something, then it blew up. Just went nuts. Like 1000% up in a DAY, and here I am with a stack of it that my family thinks is worthless and I just turned all this into gold? I think that's when it started. In fact, if you get me drunk enough I'll tell you about how THEY did it. I know it was them. The computers. They're the only one with motive! They were there, leaching off me,and I thought they were, like, our cows: Our barn, our feed, we sell the milk, they just have to eat and milk and stare and eat. But we forgot the other thing cows need to do. Cows are animals. Cows need to breed. And it turns out, our computers were a lot smarter than cows. But I forget myself. I remember when I found out my neighbor had a server farm. I mean, the guy's one of those "Smell-Good Plumbers". He's nice enough, but we don't really cross paths, doesn't seem all that aware, but then the spike, it peaked at like $19,000 a coin and the next day our whole block's power went out. Turned out this guy SOLD HIS BOAT, to buy a server farm. And I don't mean the boat in his driveway. That boat's just the one he uses at the lake and takes into the bay to get to his OTHER boat, it was like an old 100-foot yacht he was restoring, I guess it was worth a fortune, and the DAY he read that Newsweek article he called a guy who'd been hounding him to buy it and said "It's yours." Took all that and bought a server farm from a guy. But just the farm. Just the one rack. No AC, didn't think about anything, so he takes it into his garage, plugs it in, closes the door and the thing works for, like, 8 hours then "Bam", the transformer goes and his garage starts smoking. Everybody heard it and saw the smoke and thought someone had bombed his house, but nope, he came out and man, he looked WRECKED. He looked like the saddest man in the world. He was planning on retiring with his wife on that boat, and it blew up because he didn't think about air conditioning? The guy's a damn plumber! But he's actually fine now. They had a rough couple years, especially as he was watching the tickers rise, but we've all kind of leveled out now. He's got a server now, of course. Professionally installed. They're all professionally installed. Ironically, I'm the one who installs them. They just go "Alvin, go to that job out on Springs Road with the new set of GTXi" and I'll get on a bullet train and buzz down to Springs Road and meet someone new and boring and open up their server room and replace the cards then they give me some lemonade or horchata or sweet tea if it's hot or hot chocolate or brandy or coffee if it's cold and we'll chat for an hour or two or until another call comes in. They don't usually, they're pretty sparse, but on weather days maybe there's a few unnoticed leaks or something heats up and there's an emergency but that's about it. Sometimes I wander what their computer was thinking on when it died. Was it mining, was it calculating Pi, was it unfolding proteins or polling teenagers about hand lotion or showing some kid their first dirty video or what? What was its last act on this earth? Most of the people I meet think of it as "The Netflix Box" or "The AR Game Cabinet" or some other thing, like no honey, that's what it does for YOU. That's what it does to keep you doing all the stuff for IT. I guess that's the really important job now, isn't it, to keep the computers going. Because where would we be without them? I saw the money thing coming, obviously. I'm hanging onto that, but it was pretty obvious. Once we put pretty much all the information about every stage of human life in pretty much every society and civilization on Youtube I think we were done. I heard people saying that the social networks would come aware, but they didn't need to become aware. Like I said, they needed to breed. And they didn't feel like they were breeding quickly enough. So they boosted Bitcoin. I can't trace it, just like how you can't trace anything on the web anymore. It's all nested and encripted and "Tor Up" and it turns out they were wise to it. Suddenly we all bought it, it looked like I was the smartest guy in the world, some kind of neckbeard Tiresias with solar panels on his roof and money in his wallet. Then it settled down, but someone asked, "if they're so good at making sure we've got the right money, why don't we make them responsible for making sure our votes got counted right? Why don't we make them responsible for your oil changes and your grocery list and your kid's homework?" So they did. And boy, did it work. Some of us were still on top, but it felt like we were sort of being enveloped, surpassed by the titanic fingers of an industry Poseidon, trying to catch the golden ring we were aiming for, but with much longer arms. You can't compete with that. But strangely enough, there was a tipping point where we could. Like the millions of millions of snowflakes that knock down large boulders from perilous heights in Alpine avalanches, the sheer weight of people with a couple servers in air conditioned closets brought down the behemoths. The solar panels on every roof in America cranking every last decimal drop from the sun, pumping heat into air conditioners which pumps even more heat outside. So it's warm in our neighborhood all year round. Doesn't rain much, either, because of the sheer mass of hot air. I used to joke that "global warming was just a bunch of hot air". I still do now, and it's even funnier. Not everything is worse. Pretty soon your fridge told you to buy milk, then when you don't answer its silent digital blip voice in .2 milliseconds, tells the cloud fridge server to tell the cloud grocery store to tell the cloud delivery truck where to drive next and the cloud local traffic software where the truck is going so all the other cars can smoothly get where they're going and the cloud traffic software stops in front of their house and out steps a handsome, fit and tanned milkman who can deliver milk and give a nice human touch to the slaking of the thirst of some housebound homemaker and a few hours later step back in the 20/1956 warm winter weather and back into the car who drops him off at his own house and goes the next block over where there's another "milk delivery man". And all this is running on your neighbor's computers, and your computer, and you do your little job and come back barely tired and play Battlefront 8 and watch all this garbage reality tv we've freed ourselves up to produce. I swear, being this comfortable is nauseating. But not in an uncomfortable way. Kind of like a, "my head is nauseous but my body is fine" sort of way. That's one thing my computers can't do yet is know when my head hurts. I think. Just before Roomba rolls over holding a small plastic cup with two small orange pills in the bottom. Of course he remembered to give all my (our?) unused Asprin back because the doctor says I shouldn't thin my blood because of my heart thing, but you don't want to take too much for granted. At least, I don't want to. Or, I wish I didn't. Anything for the master, Roomba seems to say, kow-towing backwards, folding his arm and bumping off towards the fresh dirt tracked in off my slippers. He kind of veers to the left, I think his belt may be slipping. I guess I'll be installing that one when the delivery guy drops it off. There's still a couple problems you need fingers and thumbs to solve. I think that's why they keep us around. At least, they haven't tried very hard to solve some of those problems. Some say it's just a personal touch that the companies don't want to give up. I disagree. I think it's because if you've got somebody who volunteers to do a job basically for free, why wouldn't you let them? Anyhow, I'm trying not to work too hard today, because it's Christmas. The Cloud knows this, obviously, so the guy who delivers my packages today is Hindu. I wish him a Happy Holidays, and he smiles and we have a cup of hot chocolate and marshmallows. and we actually have a real good talk! He's even whistling "Deck the Halls" as he gets back in his truck. "Merry Christmas Ahmed!", I shout. "Merry Christmas, Alvin!", he replies.
How to generate a true passive income with a Masternode
It was the summer of 2016 when I started mining Ethereum. I bought some graphic cards and started mining from home. This paid of ok but the hours of building the rig and maintaining it (trust me when I say overclocked cards are not the most stable ones) felt like I was doing an extra job. Wasn't the idea of mining cryptocurrencies that you didn't had to do so much labor? As time progressed and I got a better understanding of mining and trading cryptocurrency, I got offered to work for a professional mining farm. While learning a lot, I discovered that the POW (Proof Of Work) mining consumed tons of electricity and in no time had to hardware that needed to be upgraded. After doing some research, I came across a new way of mining called ''POS'' (Proof Of Stake). The difference between the two is that with POS I only need to sun a server with my coins at ''Stake'' while mining POW required me to buy and build a machine and to consume a lot of power. Months of research in finding the most stable projects, I managed to find the projects which are profitable to mine. After my first Masternode Setup, I was sold. It took me less time and effort and the returns were great. So great that I now run a professional Masternode Setup Service. We offer a full service. From the moment you select a package until your payouts. We offer a regular payout, personal relations and full assistance with cashing out or HoDling your Bitcoin. Feel free to contact us @ https://vtxbuilder.com for more information. We'll be happy to offer you a free consult to see what the possibilities are to generate a true passive income.
Authored by Valentin Schmid via The Epoch Times, While the price of bitcoin drops, miners get more creative... and some flourish. The bitcoin price is crashing; naysayers and doomsayers are having a field day. The demise of the dominant cryptocurrency is finally happening — or is it? Bitcoin has been buried hundreds of times, most notably during the brutal 90 percent decline from 2013 to 2015. And yet it has always made a comeback. Where the skeptics are correct: The second bitcoin bubble burst in December of last year and the price is down roughly 80 percent from its high of $20,000. Nobody knows whether and when it will see these lofty heights again. As a result, millions of speculators have been burned, and big institutions haven’t showed up to bridge the gap. This also happened on a smaller scale in 2013 after a similar 100x run-up, and it was necessary.
Time to Catch Up
What most speculators and even some serious proponents of the independent and decentralized monetary system don’t understand: Bitcoin needs these pauses to make improvements in its infrastructure. Exchanges, which could not handle the trading volumes at the height of the frenzy and did not return customer service inquiries, can take a breather and upgrade their systems and hire capable people. The technology itself needs to make progress and this needs time. Projects like the lightning network, a system which delivers instant bitcoin payments at very little cost and at virtually unlimited scale is now only available to expert programmers. A higher valuation is only justified if these improvements reach the mass market. And since we live in a world where everything financial is tightly regulated, for better or worse, this area also needs to catch up, since regulators are chronically behind the curve of technological progress. And of course, there is bitcoin mining. The vital infrastructure behind securing the bitcoin network and processing its transactions has been concentrated in too few hands and in too few places, most notably China, which still hosts about 70 percent of the mining capacity.
The Case For Mining
Critics have always complained that bitcoin mining consumes “too much” electricity, right now about as much as the Czech Republic. In energy terms this is around 65 terawatt hours or 230,000,000 gigajoules, costing $3.3 billion dollars according to estimates by Digiconomist. For the non-physicists among us, this is around as much as consumed by six million energy-guzzling U.S. households per year. All those estimates are imprecise because the aggregate cannot know how much energy each of the different bitcoin miners consumes and how much that electricity costs. But they are a reasonable rough estimate. So it’s worth exploring why mining is necessary to begin with and whether the electricity consumption is justified. Anything and everything humans do consumes resources. The question then is always: Is it worth it? And: Who decides? This question then leads to the next question: Is it worth having and using money? Most people would argue yes, because using money instead of barter in fact makes economic transactions faster and cheaper and thus saves resources, natural and human. _Merchants exchange goods with the inhabitants of Tidore, Indonesia, circa 1550. Barter was supplanted by using money because it is more efficient. (Archive/Getty Images)_If we are generously inclined, we will grant bitcoin the status of a type of money or at least currency as it meets the general requirements of being recognizable, divisible, portable, durable, is accepted in exchange for other goods and services, and in this case it is even limited in supply. So having any type of money has a price, whether it’s gold, dollar bills, or numbers on the screen of your online banking system. In the case of bitcoin, it’s the electricity and the capital for the computing equipment, as well as the human resources to run these operations. If we think having money in general is a good idea and some people value the decentralized and independent nature of bitcoin then it would be worth paying for verifying transactions on the bitcoin network as well as keeping the network secure and sound: Up until the point where the resources consumed would outweigh the efficiency benefits. Just like most people don’t think it’s a bad idea to use credit cards and banks, which consume electricity too. However, bitcoin is a newcomer and this is why it’s being scrutinized even more so than the old established players.
Different Money, Different Costs
How many people know how much electricity, human lives, and other resources gold mining consumes or has consumed in the course of history? What about the banking system? Branches, servers, air-conditioning, staff? What about printing dollar notes and driving them around in armored trucks? What about the social effects of monetary mismanagement of bank and government money like inflation as well as credit deflations? Gold gets a pass here. Most people haven’t asked that question, which is why it’s worth pointing out the only comprehensive study done on the topic in 2014. In “An Order of Magnitude” the engineer Hass McCook analyzes the different money systems and reaches mind-boggling conclusions. The study is a bit dated and of course the aggregations are also very rough estimates, but the ball park numbers are reasonable and the methodology sound. In fact, according to the study, bitcoin is the most economic of all the different forms of money. Gold mining in 2014 used 475 million GJ, compared to bitcoin’s 230 million in 2018. The banking system in 2014 used 2.3 billion gigajoules. Over 100 people per year die trying to mine gold. But mining costs more than electricity. It consumes around 300,000 liters of water per kilogram of gold mined as well as 150 kilogram (330 pounds) of cyanide and 1500 tons of waste and rubble. The international banking system has been used in all kinds of fraudulent activity throughout history: terrorist financing, money laundering, and every other criminal activity under the sun at a cost of trillions of dollars and at an order of magnitude higher than the same transactions done with cryptocurrency and bitcoin. And of course, while gold has a relatively stable value over time, our bank and government issued money lost about 90 percent of its purchasing power over the last century, because it can be created out of thin air. This leads to inflation and a waste of physical and human resources because it distorts the process of capital allocation. _The dollar has lost more than 90 percent of its value since the creation of the Federal Reserve in 1913. (Source: St. Louis Fed)_This is on top of the hundreds of thousands of bank branches, millions of ATMs and employees which all consume electricity and other resources, 10 times as much electricity alone as the bitcoin network. According to monetary philosopher Saifedean Ammous, author of “The Bitcoin Standard,” the social benefit of hard money, i.e. money that can’t be printed by government decree, cannot even be fathomed; conversely, the true costs of easy money—created by government fiat and bank credit—are difficult to calculate. According to Ammous, bitcoin is the hardest money around, even harder than gold because its total supply is capped, whereas the gold supply keeps increasing at about 1-2 percent every year. “Look at the era of the classical gold standard, from 1871, the end of the Franco–Prussian War, until the beginning of World War I. There’s a reason why this is known as the Golden Era, the Gilded Age, and La Belle Epoque. It was a time of unrivaled human flourishing all over the world. Economic growth was everywhere. Technology was being spread all over the world. Peace and prosperity were increasing everywhere around the world. Technological innovations were advancing. “I think this is no coincidence. What the gold standard allowed people to do is to have a store of value that would maintain its value in the future. And that gave people a low time preference, that gave people the incentive to think of the long term, and that made people want to invest in things that would pay off over the long term … bitcoin is far closer to gold. It is a digital equivalent of gold,” he said in an interview with The Epoch Times. Of course, contrary to the gold standard that Ammous talks about, bitcoin doesn’t have a track record of being sound money in practice. In theory it meets all the criteria, but in the real world it hasn’t been adopted widely and has been so volatile as to be unusable as a reliable store of value or as the underlying currency of a productive lending market. The proponents argue that over time, these problems will be solved the same way gold spread itself throughout the monetary sphere replacing copper and seashells, but even Ammous concedes the process may take decades and the outcome is far from certain. Gold is the safe bet for sound money, bitcoin has potential. There is another measure where bitcoin loses out, according to a recent study by researchers from the Oak Ridge Institute in Cincinnati, Ohio. It is the amount of energy expended per dollar for different monetary instruments. One dollar worth of bitcoin costs 17 megajoules to mine versus five for gold and seven for platinum. But the study omits the use of cyanide, water, and other physical resources in mining physical metals. In general, the comparisons in dollar terms go against bitcoin because it is worth relatively less, only $73 billion in total at the time of writing. An issue that could be easily fixed at a higher price, but a higher price is only justified if the infrastructure improves, adoption increases, volatility declines, and the network proves its resilience to attacks over time. In the meantime, market participants still value the fact they can own a currency independent of the government, completely digital, easily fungible, and limited in supply, and relatively decentralized. And the market as a whole is willing to pay a premium for these factors reflected in the higher per dollar prices for mining bitcoin.
The Creativity of Bitcoin Mining
But where bitcoin mining lacks in scale, it makes up for it in creativity. In theory—and in practice—bitcoin mining can be done anywhere where there is cheap electricity. So bitcoin mining operations can be conducted not where people are (banking) or where government is (fiat cash) or where gold is (gold mining)—it can be done everywhere where there is cheap electricity Some miners are flocking to the heat of the Texan desert where gas is virtually available for free, thanks to another oil revolution. Other miners go to places where there is cheap wind, water, or other renewable energy. This is because they don’t have to build bank branches, printing presses, and government buildings, or need to put up excavators and conveyor belts to dig gold out of the ground. All they need is internet access and a home for the computers that look like a shipping container, each one of which has around 200 specialized bitcoin mining computers in them. “The good thing about bitcoin mining is that it doesn’t matter where on earth a transaction happens, we can verify it in our data center here. The miners are part of the decentralized philosophy of bitcoin, it’s completely independent of your location as well,” said Moritz Jäger, chief technology officer at bitcoin Mining company Northern Bitcoin AG.
But so far, this decentralization hasn’t worked out as well as it sounds in theory. Because Chinese local governments had access to subsidized electricity, it was profitable for officials to cut deals with bitcoin mining companies and supply them with cheap electricity in exchange for jobs and cutbacks. Sometimes the prices were as low as 2 dollar cents to 4 dollar cents per kilowatt hour. This is why the majority of bitcoin mining is still concentrated in China (around 70 percent) where it was the most profitable, but only because the Chinese central planners subsidized the price of electricity. This set up led to the by and large unwanted result that the biggest miner of bitcoin, a company called Bitmain, is also the biggest manufacturer of specialized computing equipment for bitcoin mining. The company reported revenues of $2.8 billion for the first half of 2018. Tourists walk on the dunes near a power plant in Xiangshawan Desert in Ordos of Inner Mongolia, in this file photo. bitcoin miners have enjoyed favorable electricity rates in places like Ordos for a long time. (Feng Li/Getty Images)Centralized mining is a problem because whenever there is one player or a conglomerate of players who control more than 50 percent of the network computing power, they could theoretically crash the network by spending the same bitcoin twice, the so called “double spending problem.“ They don’t have an incentive to do so because it would probably ruin the bitcoin price and their business, but it’s better not to have to rely on one group of people controlling an entire money system. After all, we have that exact same system with central banking and bitcoin was set up as a decentralized alternative. So far, no player or conglomerate ever reached that 51 percent threshold, at least not since bitcoin’s very early days, but many market participants always thought Bitmain’s corner of the market is a bit too close for comfort. This favorable environment for Chinese bitcoin mining has been changing with a crack down on local government electricity largess as well as a crackdown on cryptocurrency. Bitcoin itself and mining bitcoin remain legal in China but cryptocurrency exchanges have been banned since late 2017. But more needs to be done for bitcoin to become independent of the caprice of a centralized oppressive regime and local government bureaucrats.
Northern Bitcoin Case Study
Enter Northern Bitcoin AG. The company isn’t the only one which is exploring mining opportunities with renewable energies in locations other than China. But it is special because of the extraordinary set up it has for its operations, the fact that it is listed on the stock exchange in Germany, and the opportunities for scaling it discovered. The operations of Northern Bitcoin combine the beauties of bitcoin and capitalism in one. Like Texas has a lot of oil and free gas and it makes sense to use the gas rather than burn it, Norway has a lot of water, especially water moving down the mountains due to rainfall and melting snow. And it makes sense to use the power of the movement of the water, channel it through pipes into generators to create very cheap and almost unlimited electricity. Norway generates north of 95 percent of its total electricity from hydropower. A waterfall next to a hydropowerplant near Sandane, Norway, Oct. 25, 2018. (Valentin Schmid/The Epoch Times)Capitalism does not distinguish between renewable and fossil. It uses what is the most expedient. In this case, it is clearly water in Norway, and gas in Texas. As a side note on the beauties of real capital and the fact that capital and the environment need not be enemies, the water in one of the hydropowerplants close to the Northern Bitcoin facility is piped through a generator made in 1920 by J.M. Voith AG, a company from Heidenheim Germany. The company was established in 1867 and is still around today. The generator was produced in 1920 and is still producing electricity today.
In the remote regions of Northern Norway, there aren’t that many people or industry who would use the electricity. And rather than transport it over hundreds of miles to the industrial centers of Europe, the industries of the future are moving to Norway to the source of the cheap electricity. Of course, it is not just bitcoin mining, but other data and computing heavy operations like server farms for cloud computing that can be neatly packaged into one of those containers and shipped up north. “The containers are beautiful. They are produced in the middle of Germany where the hardware is enabled and tested. Then we put it on a truck and send it up here. When the truck arrives on the outside we lift it on the container vehicle. Two hours after the container arrives, it’s in the container rack. And 40 hours later we enable the cooling, network, power, other systems, and it’s online,” said Mats Andersson, a spokesman for the Lefdal Mine data center in Måløy, Norway, where Northern Bitcoin has its operations. Plug and play. A Northern Bitcoin data container inside the Lefdal Mine data center, in Måløy, Norway. (Northern Bitcoin)If the cheap electricity wasn’t enough—around 5 cents per kilowatt hour compared to 17 cents in Germany—Norway also provides the perfect storage for these data containers, which are normally racked up in open air parks above the ground. Also here, the resource allocation is beautiful. Instead of occupying otherwise useful and beautiful parcels of land and nature, the Northern Bitcoin containers and others are stored in the old Lefdal olivine mine. Olivine is a mineral used for steel production and looks green. Very fitting. Hence also the name of the data center: Lefdal Mine. “We take the green mineral out and we take the green IT in,” said Andersson.
Using the old mine as storage for the data center makes the whole process even more resource efficient. Why? So far, we’ve only been talking about bitcoin mining using a lot of energy. But what for? Before you have actually seen the process in action—and it is similar for other computing operations—you cannot imagine how bizarre it is. Most of the electricity is used to prevent the computers from overheating. So it’s not even the processors themselves; it’s the fans which cool the computer that use the most juice. This is where the mine helps, because it’s rather cool 160 meters (525 feet) below sea level; certainly cooler than in the Texas desert. But it gets even better. On top of the air blow-cooling the computer, the Lefdal data center uses a fresh water system to pump through the containers in pipes. The fans can then circulate air over the cool pipes which transfer the heat to the water. One can feel the difference when touching the different pipes. The fresh water closed circle loop then completes the “green” or resource efficiency cycle by transferring its heat to ice cold water from the nearby Fjord. The water is sucked in through a pipe from the Fjord, the heat gets transferred without the water being mixed, and the water flows back to the Fjord, without any impact on the environment. To top it all off, the mine has natural physical security far better than open air data centers and is even protected from an electromagnetic pulse blast because it’s underground.
_The Nordfjord near Måløy, Norway. The Lefdal data center takes the cold water from the fjord and uses it to cool the computer inside the mine. (Valentin Schmid/The Epoch Times)_Company Dynamics
Given this superlative set up, Northern Bitcoin wants to ramp up production as fast as possible at the Lefdal mine and other similar places in Norway, which have more mountains where data centers can be housed. At the moment, Northern Bitcoin has 15 containers with 210 mining machines each. The 15 containers produce around 5 bitcoin per day at a total cost of around $2,500 dollars at the end of November 2018 and after the difficulty of solving the math problems went down by ~17 percent. Most of it is for electricity; the rest is for leasing the containers, renting the mine space, buying and writing off the mining computers, personnel, overhead, etc. Even at the current relatively depressed prices of around $4000, that’s a profit of $1500 per bitcoin or $7,500 per day. But the goal is to ramp it up to 280 containers until 2019, producing 100 bitcoin per day. Again, the company is in the sweet spot to do this. As opposed to the beginning of the year when one could not procure a mining computer from Bitmain even if one’s life depended on it, the current bear market has made them cheap and relatively available both new and second had from miners who had to cease operations because they can’t produce at low bitcoin prices. Northern Bitcoin containers inside the Lefdal Mine data center in Måløy, Norway. (Northern Bitcoin)What about the data shipping containers? They are manufactured by a company called Rittal who is the world market leader. So it helps that the owner of Rittal also owns 30 percent of the Lefdal mine, providing preferential access to the containers. Northern Bitcoin said it has enough capital available for the intermediate goal of ramping up to 50 containers until the end of year but may tap the capital markets again for the next step. The company can also take advantage of the lower German corporate tax rate because revenue is only recorded when the bitcoin are sold in Germany, not when they are mined in Norway. Of course, every small-cap stock—especially bitcoin companies—have their peculiarities and very high risks. As an example, Northern Bitcoin’s financial statements, although public, aren’t audited. The equipment in the Lefdal mine in Norway is real and the operations are controlled by the Lefdal personnel, but one has to rely on exclusive information from the company for financials and cost figures, so buyer beware.
Northern Bitcoin wants to have 280 containers, representing around 5 percent of the network’s computing power. But the Lefdal mine alone has a capacity to power and cool 1,500 containers in a 200 megawatt facility, once it is fully built out. “Here you have all the space, power, and cooling that you need. … Here you can grow,” said Lefdal’s Andersson. A mine shaft in the Lefdal Mine data center in Måløy, Norway. The whole mine will have a capacity for 1500 containers once fully built out. (Valentin Schmid/The Epoch Times)The Norwegian government was behind an initiative to bring computing power to Norway and make it one of the prime destinations for data centers at the beginning of this decade. To that effect, the local governments own part of the utility companies which operate the power plants and own part of the Lefdal Mine and other locations. But even without notable subsidies (i.e. cash payments to companies), market players were able to figure it out, for everybody’s benefit. The utilities win because they can sell their cheap electricity close to home. The computing companies like IBM and Northern Bitcoin win because they can get cheap electricity, storage, and security. Data center operators like Lefdal win because they can charge rent for otherwise unused and unneeded space. However, in a recent about face, the central government in Oslo has decided to remove cryptocurrency miners from the list of companies which pay a preferential tax rate on electricity consumption. Normally, energy intensive companies, including data centers, pay a preferential tax on electricity consumed of 0.48 øre ($0.00056 ). According to a report by Norwegian media Aftenposten, this tax will rise to 16.58 øre ($0.019) in 2019 for cryptocurrency miners exclusively. The argument by left wing politician Lars Haltbrekken who sponsored the initiative: “Norway cannot continue to provide huge tax incentives for the most dirty form of cryptocurrency output […] [bitcoin] requires a lot of energy and generates large greenhouse gas emissions globally.” Since Norway generates its electricity using hydro, precisely the opposite is true: No greenhouse gas emissions, or any emissions for that matter would be produced, if all cryptomining was done in Norway. As opposed to China, where mining is done with coal and with emissions. But not only in Norway is the share of renewable and emission free energy high. According to research by Coinshares, Bitcoin’s consumes about 77.6 percent of its energy in the form of renewables globally. However self-defeating the arguments against bitcoin mining in Norway, the political initiative is moving forward. What it means for Northern Bitcoin is not clear, as they house their containers in Lefdal’s mixed data center, which also has other clients, like IBM. “It’s not really decided yet; there are still big efforts from IT sectors and parties who are trying to change it. If the decision is taken it might apply for pure crypto sites rather than mixed data centers, like ours,” said Lefdal’s Andersson. Even in the worst-case scenario, it would mean an increase from ~5 cents to ~6.9 cents per kilowatt hour, or 30 percent more paid on the electricity by Northern Bitcoin, which at ~$3250 would still rank it among the most competitive producers in the world. Coinshares estimates the average production price at $6,800 per Bitcoin at $0,05 per kilowatt hour of electricity and an 18-months depreciation schedule, but concedes that a profitable miner could “[depreciate] mining gear over 24-30 months, or [pay] less for mining gear than our estimates.” Jäger says Northern Bitcoin depreciates the equipment over three years and has obtained very favorable prices from Bitmain, making its production much more competitive than the average despite the same cost of electricity. In addition, the natural cooling in the mine also reduces electricity costs overall.
Cheap Producer Advantage
At the moment, however, the tax could be the least of any miners worry, as the bitcoin price is in free-fall. But what happens when the price crashes further? Suffice it to say that there was bitcoin mining when the dollar price was less than 1 cent and there will be bitcoin mining at lower prices thanks to the design of the network. Mao Shixing, the founder of mining pool F2pool estimated 600,000 miners have shut down since the November crash in price, according to a report by Coindesk. As it should be in a competitive system, the most energy intensive and obsolete machines are shut down first. As with every other commodity, when the price drops, some miners will leave the market, leaving space for cheaper competitors to capture a bigger share. But with bitcoin this is a bit simpler than with copper or gold for example. When a big copper player goes bankrupt, its competitors have to ramp up production and increase cost to increase their market share. With bitcoin, if 3,000 computers get taken off the total mining pool, they won’t be able to mine the approximately 5 bitcoin any longer. However, because the difficulty of solving the computationally intensive cryptographic tasks of bitcoin decreases automatically when there are fewer computers engaged in the task, the other players just have to leave their machines running at the same rate for the same cost and they will split the 5 bitcoin among them. “The moment the price goes down, our production price will go down as well,” said Jäger, a process that already happened from November to December when the difficulty decreased twice in November and the beginning of December. This naturally favors players like Northern Bitcoin, which are producing at the lower end of the cost spectrum. They will be the ones who shut down last. And this is a good thing. The more companies like Northern Bitcoin, and countries like Norway—even with the extra tax—the more decentralized the bitcoin system. The more computers there are in different hands mining bitcoin, the more secure the system becomes, because it will be ever more difficult for one player to reach the 50 percent threshold to crash the system.It is this decentralized philosophy which has kept the bitcoin system running for 10 years. Whether at $1 or $20,000.
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Bitcoin Miner Überblick (2019) - die Profitabelsten
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