How Does Bitcoin Mining Work? - Investopedia

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Denarius - Tribus PoW/PoS Hybrid Cryptocurrency

Official subreddit for the Denarius [DNR] Cryptocurrency
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Denarius - Tribus PoW/PoS Hybrid Cryptocurrency

Official subreddit for the Denarius [D] Cryptocurrency. Official Site: https://denarius.io - Official Repo: https://github.com/carsenk/denarius - Discord Chat: https://discord.gg/UPpQy3n
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What exactly is bitcoin mining?

Could someone expalin bitcoin mining for me very simply, i dont understand, all i get so far is ur computer solves problems and when you get it right you get a certain ammount of bitcoin, how does that work? why do we get rewarded for theese problems, what so important about theese problems, sorry if i sound dumb, just trying to expand my mind :)
submitted by alexd0texe to Bitcoin [link] [comments]

What exactly is bitcoin mining and is it worth it? /r/Bitcoin

What exactly is bitcoin mining and is it worth it? /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin mentioned around Reddit: ELI5: What exactly is Bitcoin mining? /r/explainlikeimfive

Bitcoin mentioned around Reddit: ELI5: What exactly is Bitcoin mining? /explainlikeimfive submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Can anybody explain what exactly is bitcoin mining?

I've been on this subreddit for inly a few days and most of the posts that made it to my front page is about bitcoin mining. So what is it exactly? And is it the reason of overpricing of what should be 200-300$ graphics cards?
submitted by kerpal123 to buildapc [link] [comments]

What exactly is bitcoin and bitcoin mining ?

I google “what is bitcoin” it said it’s a computer program file
Now, some people say it’s gonna finish till 2022
So if it’s a computer program file how can it finish as it can be duplicated many times.
And if it’s a computer program file. Why people are mining it
submitted by pckty to BitcoinBeginners [link] [comments]

Bitcoin Cash hashrate is at all time high. Miners are putting ideology before profit mining BCH at a relative loss to BTC. Does not matter what side you are rooting for: This is _exactly_ how its intended to work, and its beautiful!

Bitcoin Cash hashrate is at all time high. Miners are putting ideology before profit mining BCH at a relative loss to BTC. Does not matter what side you are rooting for: This is _exactly_ how its intended to work, and its beautiful! submitted by nagdude to btc [link] [comments]

Redditors who are involved in bitcoin, how exactly does it work and what exactly is mining Bitcoin, also, how did you first get involved with it?

submitted by SweatingLife to AskReddit [link] [comments]

7 of the Best Bitcoin Mining Hardware for 2019

7 of the Best Bitcoin Mining Hardware for 2019

Dеѕріtе the рrоfіt potential of mіnіng Bіtсоіn, уоur Bitcoin mіnіng hаrdwаrе’ѕ uрfrоnt аnd energy соѕtѕ саn асtuаllу dо hаrm tо уоur bаnk ассоunt.

Pісkіng the wrong hardware соuld cost you mоrе mоnеу tо ореrаtе thаn the amount of funds уоu еаrn mining Bіtсоіn with it.
Unlock tips, ѕуѕtеmѕ & rесоmmеndеd resources to kеер уоur business аhеаd of the tесh сurvе.
Tо аvоіd losing a рrоfіt оn your Bіtсоіn mining, wе сurаtеd a lіѕt оf thе best Bitcoin mining hаrdwаrе, with thеіr рrісе, hash rаtе, and energy соnѕumрtіоn, tо hеlр уоu dесіdе whісh hardware іѕ bеѕt fоr уоu, nо matter how muсh mіnіng еxреrіеnсе you hаvе. Read оn to fіnd the rіght Bitcoin mіnіng hardware fоr уоu.

7 оf thе Bеѕt Bіtсоіn Mіnіng Hаrdwаrе for 2019

  1. Bіtmаіn Antmіnеr S9i

https://preview.redd.it/9wsw92gmsrx11.png?width=624&format=png&auto=webp&s=70a1d034fc6b7b9e549b5651d2afb2464a932a97
Pісturе Crеdіt: ASIC Miner Vаluе
Since it's considered the most рорulаr Bіtсоіn mining hаrdwаrе іn thе wоrld, the Antminer S9 is еntіrеlу ѕоld оut оn Bitmain’s website. Fоrtunаtеlу, thоugh, Bitmain rеlеаѕеd thе Antmіnеr S9i for оnlу $499 thіѕ May. Thе S9і boasts a hash rаtе of 14 TH реr ѕесоnd аnd аn еnеrgу соnѕumрtіоn оf 1,320 wаttѕ, whісh mаkеѕ іt one оf thе mоѕt еffісіеnt Bіtсоіn mіnіng hаrdwаrе out thеrе.
If you’re аn іntеrmеdіаtе оr еxреrt miner trying tо mаkе a рrоfіt, the lоw uрfrоnt cost and hіgh еffісіеnсу оf thе Antmіnеr S9і соuld оffѕеt іtѕ somewhat lofty energy соѕtѕ аnd help уоu mаkе some mоnеу.

  1. Halong Mining DrаgоnMіnt T1

https://preview.redd.it/89p3o5vqsrx11.png?width=624&format=png&auto=webp&s=2cd2fd20db417936366347bbcc58e8a5320d1f7a
Pісturе Crеdіt: ASIC Mіnеr Vаluе
Out оf аll thе Bіtсоіn mіnіng hardware оn thе market, thе DrаgоnMіnt T1 has thе highest hаѕh rаtе оf 16 TH per ѕесоnd. And with an еnеrgу соnѕumрtіоn оf 1480 Watts, which trаnѕlаtеѕ tо a 0.075 Jоulеѕ per Gіgаhаѕh ratio, іt'ѕ the most роwеrful and еffісіеnt Bіtсоіn mіnіng hаrdwаrе оut thеrе.
Naturally, there’s a lоt оf demand for the DrаgоnMіnt T1, ѕо уоu'll hаvе tо pay a hеftу price оf $2,729 tо buу іt. But іf you’re an еxреrt miner wіth lоw еlесtrісіtу costs, the роwеr аnd еffісіеnсу of thе DrаgоnMіnt T1 соuld оffѕеt іtѕ high upfront cost аnd hеlр you turn a рrоfіt.

  1. Bіtmаіn Antmіnеr T9

https://preview.redd.it/cfrhlixtsrx11.png?width=624&format=png&auto=webp&s=93c5bf5e43149eb9eae90af9cc618723b517e0ab
Pісturе Credit: ASIC Mіnеr Vаluе
Wіth a hаѕh rаtе of 12.5 TH реr second аnd energy соnѕumрtіоn оf 1,576 Wаttѕ, thе Antmіnеr T9 іѕ lеѕѕ powerful and еffісіеnt thаn thе Antmіnеr S9i, but it’s considered thе mоrе rеlіаblе орtіоn. It has higher ԛuаlіtу chips соmраrеd tо thе S9i, ѕо іt’ѕ mоrе ѕtаblе аnd dоеѕn’t burn оut as fast.
You ѕhоuld еxресt to pay around $500 fоr an Antmіnеr T9. If уоu’rе an еxреrt mіnеr whо wants a durаblе mіnіng hаrdwаrе, thіѕ is a gооd орtіоn.
  1. Pangolin Whatsminer M3X

https://preview.redd.it/yavwi8fxsrx11.png?width=624&format=png&auto=webp&s=cfd122bee5e63ede8f533b9d9975eacf99d720e2
Picture Crеdіt: ASIC Mіnеr Vаluе
Even though іt uѕеѕ the mоѕt роwеr оut of аll the hаrdwаrе on thіѕ list, rеԛuіrіng 2,050 wаttѕ оf еnеrgу, thе Whаtѕmіnеr M3X is also оnе оf thе mоѕt powerful, possessing a hаѕh rаtе оf 12.5 TH per ѕесоnd.
The M3X іѕ аlѕо mоrе аffоrdаblе thаn оthеr роwеrhоuѕе hardware, соѕtіng $1,022, which саn оffѕеt іtѕ hіgh еnеrgу соѕtѕ аnd hеlр уоu earn a рrоfіt. If you’re аn еxреrt bіtсоіn mіnеr with below average еlесtrісіtу соѕtѕ, thіѕ could bе the bеѕt hаrdwаrе fоr уоu.
  1. Bіtmаіn Antmіnеr R4

https://preview.redd.it/jezwnrd0trx11.png?width=624&format=png&auto=webp&s=40848f6f5275e6aaf7da6e22319247f006f233fd
Pісturе Crеdіt: ASIC Miner Value
Bitmain’s Antmіnеr R4 fаllѕ rіght bеhіnd thе Antmіnеr S9і in tеrmѕ оf efficiency, wіth a hаѕh rate of 8.7 TH реr ѕесоnd аnd a small energy соnѕumрtіоn of 845 wаttѕ. Anоthеr one of thе R4’ѕ bеѕt fеаturеѕ іѕ thаt іt runѕ аlmоѕt ѕіlеntlу, making іt the ideal hаrdwаrе fоr mіnіng bitcoins аt hоmе.
The R4’s convenience and еffісіеnсу comes at a соѕt, thоugh -- уоu’ll nееd to spend $2,999 tо buу іt оn Amаzоn. If уоu’rе a hоbbуіѕt оr іntеrmеdіаtе miner trуіng tо make money аt home, соnѕіdеr uѕіng thе Antminer R4.

  1. Avаlоn6

https://preview.redd.it/p6s9wjz3trx11.png?width=624&format=png&auto=webp&s=b83b49b9266f98be0f0769dfffb450fd4167ef2e
Picture Crеdіt: Buу Bіtсоіn Worldwide
Listed at $300 оn Amаzоn, thе Avalon6 іѕ one оf thе mоѕt аffоrdаblе Bіtсоіn mining hardware, аnd it's the еаѕіеѕt tо set uр. But іt аlѕо hаѕ lоw еffісіеnсу, роѕѕеѕѕіng a hаѕh rаtе оf 3.5 TH реr ѕесоnd аnd a rеlаtіvеlу high energy consumption of 1050 watts.
Unless your еlесtrісіtу соѕtѕ аrе еxtrеmеlу cheap, using thе Avаlоn6 tо mіnе mоrе Bіtсоіn than іt соѕtѕ tо ореrаtе іѕ nеаrlу impossible. Thе Avаlоn6 іѕ bеѕt fоr beginners оr hobbyists, since уоu’ll most lіkеlу never mаkе a рrоfіt uѕіng thе hаrdwаrе.

  1. Bіtmаіn Antminer S7

https://preview.redd.it/2dfub2b9trx11.png?width=544&format=png&auto=webp&s=60d384672b0ce250515da1a55b34cc4dfbce9d57
Picture Credit: ASIC Mіnеr Value
Anоthеr solid Bіtсоіn mіnіng hаrdwаrе fоr bеgіnnеrѕ or hоbbуіѕtѕ іѕ thе Bіtmаіn Antminer S7. Itѕ lоw $200 cost matches іtѕ low efficiency -- іt hаѕ a hаѕh rаtе оf 4.73 TH per ѕесоnd аnd еnеrgу consumption of 1293 wаttѕ. But іf Bіtсоіn’ѕ рrісе ѕhооtѕ uр аnd уоu саn find extremely cheap еlесtrісіtу, іt’ѕ possible tо make a profit using thе hаrdwаrе.
submitted by odeybit to u/odeybit [link] [comments]

What is exactly happening when mining bitcoin?

ELI 5 when mining bitcoin you are said to be solving complex calculations and whoever solves it gets rewarded. What are these calculations? What is their purpose? What will the solutions be used for? Or is it the verification of transaction that needs all that computing power?
submitted by Gorman2462 to CryptoMarkets [link] [comments]

What exactly are Bitcoin Mining PCs calculating? It it for science? Is it instant Stock monitoring or is it just Pi counting?

submitted by TheConceptBoy to AskReddit [link] [comments]

What exactly is the plan of this 2x mining cartel? /r/Bitcoin

What exactly is the plan of this 2x mining cartel? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Explanation of exactly what bitcoin mining is.

Explanation of exactly what bitcoin mining is. submitted by johngalt2104 to Bitcoin [link] [comments]

Exactly what is bitcoin mining? And is it legal (in the US)?

submitted by Stormer97 to explainlikeimfive [link] [comments]

Bitcoin mentioned around Reddit: Can someone that understands Bitcoin and where it comes from explain it to me in detail? What exactly is it, and how do people "mine" it? /r/AskReddit

Bitcoin mentioned around Reddit: Can someone that understands Bitcoin and where it comes from explain it to me in detail? What exactly is it, and how do people submitted by BitcoinAllBot to BitcoinAll [link] [comments]

What exactly is a private key? and how do I find mine? /r/Bitcoin

What exactly is a private key? and how do I find mine? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

What exactly IS a bitcoin and how does one "mine" them if they're not real? It's not like there was a "bit vein" that the internet created.

I just completely don't understand them at all. Help!
submitted by JUSTpleaseSTOP to AskReddit [link] [comments]

Question. what exactly is to mine for bitcoin?

i have an idea but eli5
submitted by Minista_Pinky to Bitcoin [link] [comments]

Minimum Viable Issuance - Why Ethereum’s lack of a hard cap on ETH issuance is a good thing.

This post will explain how the argument used by the average Bitcoin maximalist, thinking that they have found Ethereum’s achilles heel when talking about issuance is actually highlighting one of Ethereum’s strong points and one of the main threats to the longevity of the Bitcoin network.
So first let’s answer the question which I know many people have about Ethereum:

What is Ethereum’s ETH issuance schedule?

Ethereum has an issuance policy of Minimum Viable Issuance. So what does this mean exactly? It means that the issuance of ETH will be as low as possible while also maintaining a sufficient budget to pay miners (and soon to be stakers) to keep the network secure. For example, if ETH issuance was halved, miners would drop off the network and stop mining as it is no longer profitable for them to mine. As a result, the network would be less secure as it would cost less money for an attacker to control 51% of the hash power and attack the network. This means that the Ethereum community plans to change ETH issuance as time goes on to maintain a reasonable security budget which will keep the network secure but will also keep inflation in check. We have done this twice in the past with EIP-649 and EIP-1234 which reduced block rewards from 5 ETH per block to 3 ETH and from 3 ETH to 2 ETH respectively. I previously made a graph of ETH issuance over time here: https://redd.it/it8ce7
So while Ethereum doesn’t have a strictly defined issuance schedule, the community will reject any proposals which either put the security of the network at risk such as the recent EIP-2878, or we will reject proposals which will lead to excessive network security and therefore an unnecessarily high inflation rate (or we will accept proposals which reduce issuance after price rises and therefore the security budget rises). This means that when Bitcoiners accuse the Ethereum Foundation of being no better than a central bank because they can “print more Ether”, this is completely untrue. Any proposals made by the EF which would increase issuance unnecessarily would be rejected by the community in the same way that a proposal to increase the supply of Bitcoin from 21 million to 22 million would be rejected. There is a social contract around both Bitcoin’s and Ethereum’s issuance schedules. Any networks or proposals which break the social contracts of 21 million Bitcoins and minimal viable issuance of Ether would be a breach of these contracts and the new proposed network would be labeled by the community as illegitimate and the original network would live on.

So why is minimum viable issuance better than a hard cap?

Minimum viable issuance is better than a hard cap because it puts the most important part of the network first - the security. MVI ensures that the Ethereum network will always have a security budget which keeps the cost of a 51% attack impractically high. Bitcoin on the other hand, halves its security budget every 4 years until eventually only the transaction fees pay for network security. This means that every 4 years, the amount of money paying for network security halves until eventually, the value of attacking the network becomes greater than the security budget and someone performs a 51% attack (technically the security budget only halves if terms of BTC not in dollars. However, even if the price of Bitcoin more than doubles in the time that the security budget halves, the ratio of security budget to value secured on the network still halves, doubling the financial viability of performing a network attack). The strategy to pay for the security budget once Bitcoin issuance stops is for transaction fees to secure the network since transaction fees are paid to miners. Not only does this have its own security problems which I won’t detail here, but unless Bitcoin scales on layer 1 (layer 2 scaling solutions have their own security mechanisms separate from L1), then fees would have to cost well in the thousands of dollars to secure a trillion dollar market cap Bitcoin that is secured by nothing but fees. If Bitcoin maximalists want a 10 trillion or 100 trillion dollar market cap then expect fees to go up another 10 or 100 times from there.
Ethereum on the other hand, will be able to keep its network secure with approximately 1-2% annual issuance being paid to stakers under ETH 2.0. This is because not all of the network will be staking, so if 33 million of the approximately 110 million Ether in existence stakes under ETH 2.0, then paying this 33 million Ether 6% a year (a very decent yield!) would cost just under 2 million ETH per year which would equate to less than 2% annual ETH inflation. This is also before considering EIP-1559 which will burn a portion of transaction fees which will counter the effect of this inflation and potentially even make ETH deflationary if the sum of all burned transaction fees are greater than the annual inflation. Also, under ETH 2.0, an attacker performing a 51% attack would get his funds slashed (they would lose their funds) if they attack the network, meaning that they can only perform a 51% attack once. However, in Bitcoin, anyone who controls 51% of the mining hash power could perform multiple 51% attacks without losing everything like they could in ETH 2.0.
So in conclusion, while Ethereum doesn’t have the guaranteed anti-inflation security of a hard cap, it does have the guarantee of always paying it’s miners (or stakers under ETH 2.0) enough to keep the network secure. In contrast, while Bitcoin’s social contract may guarantee a hard cap of 21 million, it cannot simultaneously guarantee network security in the long run. Eventually, its users will have to decide if they want a secure network with more than 21 million coins or a tax to pay for security or an insecure network with super high fees and a hard cap of 21 million Bitcoin.
Disclaimer: The details I covered around 51% attacks and network security are simplified. I am not an expert in this field and things are a lot more nuanced than I laid out in my simplifications above.
submitted by Tricky_Troll to ethfinance [link] [comments]

God, Proctortrack is invasive

It's another goddamn level of data collection. I bet they're selling this data.
I did 4 face scans, 4 knuckle scans, and 2 full room scans today.
What the actual fuck. Why do you need to see my whole room? I'm sitting in this tiny ass corner so it doesn't seem like I'm cheating and now they wanna see the whole goddamn room?
The audacity of these a-holes is incredible. It says "show under the desk". Yeah, cuz I got eyes on my feet right?
Isn't my face and hands and constant proctoring and FULL MOTHERFUCKIN DISK ACCESS, and access to control any and all apps on my laptop at any time in any way enough?
This is the exact access a virus needs to use your laptop for bitcoin mining.

Oh, and not to mention they made me download a chrome extension with full access to all data, control over the whole browser, and ability to open and close tabs without my permission

I don't even feel like this is my laptop anymore.

Why can't we use lockdown browser? It's THE SAME SHIT. Just have us join zoom or some shit and lockdown browser.
At this point they might as well make us naked and take a full body scan to make sure we didn't tattoo the fuckin syllabus on us or some shit

Dear Proctortrack, lmk if you need to scan the inside of my eyeballs too, you know, to make sure i have "aCaDeMiC iNtEgRiTy". Who knows? Maybe I tattooed the inside of my goddamn retinas?
submitted by Dave30954 to rutgers [link] [comments]

Eth 2.0 vs Polkadot and other musings by a fundamental investor

Spent about two hours on this post and I decided it would help the community if I made it more visible. Comment was made as a response to this
I’m trying to avoid falling into a maximalist mindset over time. This isn’t a 100% ETH question, but I’m trying to stay educated about emerging tech.
Can someone help me see the downsides of diversifying into DOTs?
I know Polkadot is more centralized, VC backed, and generally against our ethos here. On chain governance might introduce some unknown risks. What else am I missing?
I see a bunch of posts about how Ethereum and Polkadot can thrive together, but are they not both L1 competitors?
Response:
What else am I missing?
The upsides.
Most of the guys responding to you here are full Eth maxis who drank the Parity is bad koolaid. They are married to their investment and basically emotional / tribal in an area where you should have a cool head. Sure, you might get more upvotes on Reddit if you do and say what the crowd wants, but do you want upvotes and fleeting validation or do you want returns on your investment? Do you want to be these guys or do you want to be the shareholder making bank off of those guys?
Disclaimer: I'm both an Eth whale and a Dot whale, and have been in crypto for close to a decade now. I originally bought ether sub $10 after researching it for at least a thousand hours. Rode to $1500 and down to $60. Iron hands - my intent has always been to reconsider my Eth position after proof of stake is out. I invested in the 2017 Dot public sale with the plan of flipping profits back to Eth but keeping Dots looks like the right short and long term play now. I am not a trader, I just take a deep tech dive every couple of years and invest in fundamentals.
Now as for your concerns:
I know Polkadot is more centralized
The sad truth is that the market doesn't really care about this. At all. There is no real statistic to show at what point a coin is "decentralized" or "too centralized". For example, bitcoin has been completely taken over by Chinese mining farms for about five years now. Last I checked, they control above 85% of the hashing power, they just spread it among different mining pools to make it look decentralized. They have had the ability to fake or block transactions for all this time but it has never been in their best interest to do so: messing with bitcoin in that way would crash its price, therefore their bitcoin holdings, their mining equipment, and their company stock (some of them worth billions) would evaporate. So they won't do it due to economics, but not because they can't.
That is the major point I want to get across; originally Bitcoin couldn't be messed with because it was decentralized, but now Bitcoin is centralized but it's still not messed with due to economics. It is basically ChinaCoin at this point, but the market doesn't care, and it still enjoys over 50% of the total crypto market cap.
So how does this relate to Polkadot? Well fortunately most chains - Ethereum included - are working towards proof of stake. This is obviously better for the environment, but it also has a massive benefit for token holders. If a hostile party wanted to take over a proof of stake chain they'd have to buy up a massive share of the network. The moment they force through a malicious transaction a proof of stake blockchain has the option to fork them off. It would be messy for a few days, but by the end of the week the hostile party would have a large amount of now worthless tokens, and the proof of stake community would have moved on to a version of the blockchain where the hostile party's tokens have been slashed to zero. So not only does the market not care about centralization (Bitcoin example), but proof of stake makes token holders even safer.
That being said, Polkadot's "centralization" is not that far off to Ethereum. The Web3 foundation kept 30% of the Dots while the Ethereum Foundation kept 17%. There are whales in Polkadot but Ethereum has them too - 40% of all genesis Ether went to 100 wallets, and many suspect that the original Ethereum ICO was sybiled to make it look more popular and decentralized than it really was. But you don't really care about that do you? Neither do I. Whales are a fact of life.
VC backed
VCs are part of the crypto game now. There is no way to get rid of them, and there is no real reason why you should want to get rid of them. They put their capital at risk (same as you and me) and seek returns on their investment (same as you and me). They are both in Polkadot and Ethereum, and have been for years now. I have no issue with them as long as they don't play around with insider information, but that is another topic. To be honest, I would be worried if VCs did not endorse chains I'm researching, but maybe that's because my investing style isn't chasing hype and buying SUSHI style tokens from anonymous (at the time) developers. That's just playing hot potato. But hey, some people are good at that.
As to the amount of wallets that participated in the Polkadot ICO: a little known fact is that more individual wallets participated in Polkadot's ICO than Ethereum's, even though Polkadot never marketed their ICO rounds due to regulatory reasons.
generally against our ethos here
Kool aid.
Some guy that works(ed?) at Parity (who employs what, 200+ people?) correctly said that Ethereum is losing its tech lead and that offended the Ethereum hivemind. Oh no. So controversial. I'm so personally hurt by that.
Some guy that has been working for free on Ethereum basically forever correctly said that Polkadot is taking the blockchain tech crown. Do we A) Reflect on why he said that? or B) Rally the mob to chase him off?
"I did not quit social media, I quit Ethereum. I did not go dark, I just left the community. I am no longer coordinating hard forks, building testnets, or contributing otherwise. I did not work on Polkadot, I never did, I worked on Ethereum. I did not hate Ethereum, I loved it."
Also Parity locked their funds (and about 500+ other wallets not owned by them) and proposed a solution to recover them. When the community voted no they backed off and did not fork the chain, even if they had the influence to do so. For some reason this subreddit hates them for that, even if Parity did the 100% moral thing to do. Remember, 500+ other teams or people had their funds locked, so Parity was morally bound to try its best to recover them.
Its just lame drama to be honest. Nothing to do with ethos, everything to do with emotional tribalism.
Now for the missing upsides (I'll also respond to random fragments scattered in the thread):
This isn’t a 100% ETH question, but I’m trying to stay educated about emerging tech.
A good quick intro to Eth's tech vs Polkadot's tech can be found on this thread, especially this reply. That thread is basically mandatory reading if you care about your investment.
Eth 2.0's features will not really kick in for end users until about 2023. That means every dapp (except DeFI, where the fees make sense due to returns and is leading the fee market) who built on Eth's layer 1 are dead for three years. Remember the trading card games... Gods Unchained? How many players do you think are going to buy and sell cards when the transaction fee is worth more than the cards? All that development is now practically worthless until it can migrate to its own shard. This story repeats for hundreds of other dapp teams who's projects are now priced out for three years. So now they either have to migrate to a one of the many unpopulated L2 options (which have their own list of problems and risks, but that's another topic) or they look for another platform, preferably one interoperable with Ethereum. Hence Polkadot's massive growth in developer activity. If you check out https://polkaproject.com/ you'll see 205 projects listed at the time of this post. About a week ago they had 202 listed. That means about one team migrated from another tech stack to build on Polkadot every two days, and trust me, many more will come in when parachains are finally activated, and it will be a complete no brainer when Polkadot 2.0 is released.
Another huge upside for Polkadot is the Initial Parachain Offerings. Polkadot's version of ICOs. The biggest difference is that you can vote for parachains using your Dots to bind them to the relay chain, and you get some of the parachain's tokens in exchange. After a certain amount of time you get your Dots back. The tokenomics here are impressive: Dots are locked (reduced supply) instead of sold (sell pressure) and you still earn your staking rewards. There's no risk of scammers running away with your Ether and the governance mechanism allows for the community to defund incompetent devs who did not deliver what was promised.
Wouldn’t an ETH shard on Polkadot gain a bunch of scaling benefits that we won’t see natively for a couple years?
Yes. That is correct. Both Edgeware and Moonbeam are EVM compatible. And if the original dapp teams don't migrate their projects someone else will fork them, exactly like SUSHI did to Uniswap, and how Acala is doing to MakerDao.
Although realistically Ethereum has a 5 yr headstart and devs haven't slowed down at all
Ethereum had a five year head start but it turns out that Polkadot has a three year tech lead.
Just because it's "EVM Compatible" doesn't mean you can just plug Ethereum into Polkadot or vica versa, it just means they both understand Ethereum bytecode and you can potentially copy/paste contracts from Ethereum to Polkadot, but you'd still need to add a "bridge" between the 2 chains, so it adds additional complexity and extra steps compared to using any of the existing L2 scaling solutions
That only applies of you are thinking from an Eth maximalist perspective. But if you think from Polkadot's side, why would you need to use the bridge back to Ethereum at all? Everything will be seamless, cheaper, and quicker once the ecosystem starts to flourish.
I see a bunch of posts about how Ethereum and Polkadot can thrive together, but are they not both L1 competitors?
They are competitors. Both have their strategies, and both have their strengths (tech vs time on the market) but they are clearly competing in my eyes. Which is a good thing, Apple and Samsung competing in the cell phone market just leads to more innovation for consumers. You can still invest in both if you like.
Edit - link to post and the rest of the conversation: https://www.reddit.com/ethfinance/comments/iooew6/daily_general_discussion_september_8_2020/g4h5yyq/
Edit 2 - one day later PolkaProject count is 210. Devs are getting the hint :)
submitted by redditsucks_goruqqus to polkadot_market [link] [comments]

Minimum Viable Issuance - Why Ethereum’s lack of a hard cap on ETH issuance is a good thing.

This post will explain how the argument used by the average Bitcoin maximalist, thinking that they have found Ethereum’s achilles heel when talking about issuance is actually highlighting one of Ethereum’s strong points and one of the main threats to the longevity of the Bitcoin network.
So first let’s answer the question which I know many people have about Ethereum:

What is Ethereum’s ETH issuance schedule?

Ethereum has an issuance policy of Minimum Viable Issuance. So what does this mean exactly? It means that the issuance of ETH will be as low as possible while also maintaining a sufficient budget to pay miners (and soon to be stakers) to keep the network secure. For example, if ETH issuance was halved, miners would drop off the network and stop mining as it is no longer profitable for them to mine. As a result, the network would be less secure as it would cost less money for an attacker to control 51% of the hash power and attack the network. This means that the Ethereum community plans to change ETH issuance as time goes on to maintain a reasonable security budget which will keep the network secure but will also keep inflation in check. We have done this twice in the past with EIP-649 and EIP-1234 which reduced block rewards from 5 ETH per block to 3 ETH and from 3 ETH to 2 ETH respectively. I previously made a graph of ETH issuance over time here: https://redd.it/it8ce7
So while Ethereum doesn’t have a strictly defined issuance schedule, the community will reject any proposals which either put the security of the network at risk such as the recent EIP-2878, or we will reject proposals which will lead to excessive network security and therefore an unnecessarily high inflation rate (or we will accept proposals which reduce issuance after price rises and therefore the security budget rises). This means that when Bitcoiners accuse the Ethereum Foundation of being no better than a central bank because they can “print more Ether”, this is completely untrue. Any proposals made by the EF which would increase issuance unnecessarily would be rejected by the community in the same way that a proposal to increase the supply of Bitcoin from 21 million to 22 million would be rejected. There is a social contract around both Bitcoin’s and Ethereum’s issuance schedules. Any networks or proposals which break the social contracts of 21 million Bitcoins and minimal viable issuance of Ether would be a breach of these contracts and the new proposed network would be labeled by the community as illegitimate and the original network would live on.

So why is minimum viable issuance better than a hard cap?

Minimum viable issuance is better than a hard cap because it puts the most important part of the network first - the security. MVI ensures that the Ethereum network will always have a security budget which keeps the cost of a 51% attack impractically high. Bitcoin on the other hand, halves its security budget every 4 years until eventually only the transaction fees pay for network security. This means that every 4 years, the amount of money paying for network security halves until eventually, the value of attacking the network becomes greater than the security budget and someone performs a 51% attack (technically the security budget only halves if terms of BTC not in dollars. However, even if the price of Bitcoin more than doubles in the time that the security budget halves, the ratio of security budget to value secured on the network still halves, doubling the financial viability of performing a network attack). The strategy to pay for the security budget once Bitcoin issuance stops is for transaction fees to secure the network since transaction fees are paid to miners. Not only does this have its own security problems which I won’t detail here, but unless Bitcoin scales on layer 1 (layer 2 scaling solutions have their own security mechanisms separate from L1), then fees would have to cost well in the thousands of dollars to secure a trillion dollar market cap Bitcoin that is secured by nothing but fees. If Bitcoin maximalists want a 10 trillion or 100 trillion dollar market cap then expect fees to go up another 10 or 100 times from there.
Ethereum on the other hand, will be able to keep its network secure with approximately 1-2% annual issuance being paid to stakers under ETH 2.0. This is because not all of the network will be staking, so if 33 million of the approximately 110 million Ether in existence stakes under ETH 2.0, then paying this 33 million Ether 6% a year (a very decent yield!) would cost just under 2 million ETH per year which would equate to less than 2% annual ETH inflation. This is also before considering EIP-1559 which will burn a portion of transaction fees which will counter the effect of this inflation and potentially even make ETH deflationary if the sum of all burned transaction fees are greater than the annual inflation. Also, under ETH 2.0, an attacker performing a 51% attack would get his funds slashed (they would lose their funds) if they attack the network, meaning that they can only perform a 51% attack once. However, in Bitcoin, anyone who controls 51% of the mining hash power could perform multiple 51% attacks without losing everything like they could in ETH 2.0.
So in conclusion, while Ethereum doesn’t have the guaranteed anti-inflation security of a hard cap, it does have the guarantee of always paying it’s miners (or stakers under ETH 2.0) enough to keep the network secure. In contrast, while Bitcoin’s social contract may guarantee a hard cap of 21 million, it cannot simultaneously guarantee network security in the long run. Eventually, its users will have to decide if they want a secure network with more than 21 million coins or a tax to pay for security or an insecure network with super high fees and a hard cap of 21 million Bitcoin.
Disclaimer: The details I covered around 51% attacks and network security are simplified. I am not an expert in this field and things are a lot more nuanced than I laid out in my simplifications above.
submitted by Tricky_Troll to ethtrader [link] [comments]

I’m a commentator for a tournament of nightmares. I’m not sure the participants are willing.

You’d think being a psychiatric ward for 38 months would be enough to deter a guy from ever going back to a sport that involves watching human beings at the height of their physical prowess beat the living shit out of each other. Sometimes regulated, sometimes not.
But, here I am, fresh outta the loony bin and reading the most unusual advertising slogan I’d ever laid eyes on;
“The most terrifying tournament has come around once again! Conquer your fears in the NFC*…* literally.”
This was the business card that accompanied my black envelope as it was handed to me on the discharge ward by a well dressed and gangly fella with an uncomfortable wide smile. He didn’t say much of anything, just that his name was “Watson” before bowing and holding up the envelope.
“Heh, like the butler, right?” I said, taking the envelope from his plasticine hands. His smile ripples across his face and he nods slowly, his perfect hair unmoving in the strong wind before he turns on his heel and walks back to the black sedan.
The cold air chilled my bones, and I pulled the medical bracelet from my wrist, grimacing at the marks underneath before following Watson to the Sedan and hauling my luggage into the trunk before setting off, not knowing how I came to even be there in the first place.
I guess right now, that doesn’t really matter.
What matters is where I am now and what I’m doing.
"blood strewn across the canvas, frayed brain matter sailing across my head and splattering against the wall, a woman standing in a pool of blood as the deformed creature twitches on the ground"
My name is Sal “Motormouth” Sabotta, I’m a sports commentator by trade. Be it combat sports, pro wrestling, death-matches or martial arts tournament, I’ve done it all.
I won’t lie; Work can be hard to come by. I’ve spent months struggling for rent and resorting to less tried-and-true commentary methods in order to survive. That has, at times, involved trying my hand at some of the more underground competitions; unregulated fights, sick, illegal games bet on by people on the dark web and worse… Things I’m not going to detail here. Things I’m not proud to have taken a hefty pay-check for from greasy, sweaty fucks in Armani tracksuits and stinking of cheap booze and coke all the way up to well-dressed bitcoin farmers in their 20s who probably own child slaves.
In short, I’m no stranger to the grim underworld or the secrecies with which they conduct their work. I see money and an easy way to make it with my voice; I don’t ask questions.
So when I received an email the day of my discharge from the hospital and I’m told “you’ll receive a letter from Mr. Watson, take it and follow the instructions to the venue. Pay up front as agreed.”, I don’t question it. Especially when the note is personalised, and the doctor says my medical fees were covered.
We drove past numerous landscapes, vistas and neighbourhoods before veering off into an industrial estate and entering an underground tunnel. Half a mile in, Watson stops the car and peers back, smiling.
He directs a thumb to the service door in the side tunnel and rubs his neck, a scar running from ear to ear. Was he a former fighter? Gangster?
I sighed and got out, still in my medical gown and hauling ass to the door. It opened before I could reach out and a tall, muscular woman in her late 30s greeted me with a smile. She was imposing, powerful in her gait, a black eyepatch with several seals adorning the sides accompanying a thick scar down her face did nothing to stop her beauty. She wore a tank top with a black cloak with white fur on the tops and sleeves, a thick black chain clasp around the neck. I won’t lie; she looked badass. Terrifying, but badass.
“‘Bout time ya showed up, Sabotta!” She grinned and put a cinderblock of a hand on my shoulder. I’m 5’10 and 180lbs, but she made me feel like a child in front of her. The power emanating from her fist was unbelievable. “C’mon, the trial match is starting and I don’t want no tourney without a broken in commentator! You gotta know the ropes of this place!”
“You know your driver was standing right outside when I was discharged, right? Couldn’t think to give me an extra day or two to freshen up?” I frowned. This wasn’t normal protocol, even for back-alley promotions like this. She just laughed at me and slapped my shoulder.
“The tournament waits for nobody, Sal. Times a-wasting.”
The hallway is dimly lit and the sounds of a ruckus above us are as impossible to ignore as the sounds of thudding, screaming and snapping. As we pass several doors with one-way mirrors on the front panes, I hear sounds I could have never placed in the animal kingdom or otherwise; gurgles, clicks, grunts and even otherworldly whispers.
“What the fuck is that? You guys doing animal fights down here? I mean I called a monkey fight once, but it’s not exactly… pleasant.” I shuddered, thinking of the violence chimpanzees can inflict on one another, let alone humans. She never stopped walking or staring directly ahead when she responded.“Those ain’t animals. Not by a long shot.”
Before I can probe further, I’m hurried into a changing room and practically swept off my feet by her strength. I turn back and she’s already poking her head out the door.
“You’ve got 5 minutes, get your shit and head up the left stairs, Watson will guide you.” She grinned, and I saw gold filings in her teeth that glinted as much as her bedazzled eye patch. “Ya came highly recommended… I expect good things!”
I do as instructed and within 5 minutes I’m back in my commentary clothes; an open buttoned Hawaiian shirt with my old Hotel Inertia shirt underneath, skinny black jeans and shimmering black shoes. I found some old slick gorilla powder in my hair and dusted it up, opting for the dishevelled look as I knew I’d be sweating by the end of the ordeal.
“You shouldn’t bother putting in so much effort, y’know. They’re not gonna care how good you look, only how well you talk.”
Standing in the doorway was a woman in her 40s, dark-skinned and hair clad in meticulous dreadlocks, tied back into a large bun with a pair draped down the sides of her head. She held a thick book in one hand and pocketed a serrated blade in the other before motioning to me.
“We’ll have to do the pleasantries on the way, the match is starting and you don’t wanna miss that. The commissioner isn’t the type you want to upset. Especially when you’re not here by choice.” I looked for a moment, dumbfounded.
“I’m here because I was invited, already got my pay from the woman who let me in.” I shrugged, pocketing the envelope and getting my equipment from the suitcase. The woman gave a sad smile and shook her head.
“Of course you’d think that. She likes it that way. Bet she didn’t introduce herself either, did she? C’mon.”
I follow her down and after a few minutes we come to a fork in the hallway, an elevator system to our right and a stairway to the left. Dutifully, Watson stood patiently, still grinning and motioning us to go up.
Once we’re situated in our booth upstairs, I set my equipment up and look down at the table, expecting a slew of papers and fighter information in front of me. I look to the woman to ask, but she doesn’t break her stare in the darkness, looking down at the arena floor some 100ft below us.“You won’t need that. Not for this match.”
The lights flicker on and the enormity of this venue reveals itself to me. It’s a structure of imposing steel, dried blood, claw marks and other unknown substances that littered the 40ft wide circular pit the fighters contested in, a black lift on either side from the fighters corners that I can only assume ascended up from their locker room area. Around them were chain-link fences that rose up to the audience stands above, situating around 300 people across all four sides. At the very top sat our booth, the commissioner’s office directly opposite, the judges booth to our right and the fight analysts/medical area to our left. Standing in the centre with a spotlight over them was the commissioner, microphone in hand and an energy that was almost palpable.
“Ladies, Gentlemen and Freaks of all kinds out there in the universe. I welcome you once more to the annual Nightmare Fighting Championship Tournament! It’s been a long year, but we have new blood to pit against our resident night terrors and some fresh fears to feast on the fortuitous soul that frolics into their den. As always, our contestants will be fighting for their freedom, a chance to get their wish or to fight for the ultimate prize.” The crowd cheers and the majority are hidden behind thick plexiglass and lighting, but I can see some have Karate Gi’s, weapons in hand and others with demon masks as they whoop and holler. The clientele here were, at least in my estimation, experienced. But I was feeling a lump in my throat at that one phrase The Commissioner so surreptitiously added in without issue;
“As always, our contestants will be fighting for their freedom*”*
I leaned to the woman next to me and as if she knew what I was going to ask; she put a finger up and shook her head. Eyes awash with fear and a grimness I had only seen on that of trainers who knew their fighter was not ready for the bout ahead. She pointed the finger down to my machine, then to the pit. Turning it on, I looked down as the commissioner began to talk, readying myself to commentate on whatever weirdos came up to battle.
“But before we get to that, we have an exciting exhibition match for our loyal supporters who bankroll this event every year. Without you elite few, we could not do this. You are the pound for pound goats of support! Now, without further ado; let’s get this show on the road!”The rest of the lights clicked on and spun around the venue as they raised the profile of the bout, the elevators both whirring into action as the right one arose first.
“In this corner, from the marionettes shop and accompanied by his Bunraku doll “Mr. Stares”, it’s the man who pulls the strings… THE PUPPET MAN!”
Out steps a tall, thin Japanese man in full clown makeup. His head shaven save for two ridiculous strands of hair stretched out and fluffed up to their limits, like red antennae. His eyebrows large m’s that practically cover his forehead, the nose a completely vacant slot with a black hole drawn in and the mouth… the fucking mouth was nailed shut. Literally. Sharp rusted nails had been hammered down through the lips with such force that they’d bent. A sickening crimson red face-paint stretched across the entire bottom half of his face, making it seem far larger by comparison. He carefully held a small bundle underneath a sheet and bowed deeply to the audience before standing at his designated spot.
“In the other corner, from the streets of god knows where and the womb of someone who misses him… "Hulked Up" Michael O’Donnell!”
I watched with wide eyes and a stomach threatening to evacuate its contents at any moment as the smoke cleared and a boy no older than 17 rushed out, beating his chest and screaming to the crowd as if he was the Incredible Hulk. I don’t know if they drugged the poor kid, but he clearly had no idea where he was.
“There are no rules, no referees and judges only exist in case of a draw or unclear victory. Our commentary team will take over and we wish you a phenomenal match.” She drools a little before she speaks again, looking up at me and winking. “Let’s make this a violent one.”
She snaps her fingers and leaps for the fence, climbing up with ungodly ease before sitting on her makeshift chair in her office.
I have no idea what I’m seeing but every cell in my body is urging me to run; I feel my knees tense and my frame rise ever so slightly before the woman next to me puts her hand on my thigh, pushing me down with great force.
“You have a job to do, so do I. Trust me, you think you can leave but if you get out of this chair, not only will YOUR life end. Mine will too.” She unsheathes the serrated blade and looks at me with pity. “We both have a part to play here, so put the headset on and let’s do our job, no matter how hard it is.”
Hands shaking, I pick up the headset and connect it to the portable recorder and take a breath.
“I… I need your name. What is it you do?” I stutter, trying to calm myself. She hands me a bottle of water as the surrounding lights dim and the spotlight focuses on the spectacle below.
“I’m Madame Nelle Lockwood, cryptid hunter and your co-host to guide you through tonight. Good to meet you, Sal.”
-
NFC EXHIBITION MATCH: "Hulked Up" Michael O’Donnell vs The Puppet Man w/ Mr. Stares
“Welcome fight fans from around the world, god knows how you’re listening to this or WHY, but here we are. I’m your host Sal “MotorMouth” Sabotta, wishing this was all a bad dream. Joining me this evening is our cryptid specialist and all round badass Madame Nelle Lockwood. How are you doing, Nelle?”
She looks at me with a bewildered look on her face before blinking and coming to her senses.
“Uhh… good! All things considered… boy, you really have a professional knack for this, huh? I can see why Commissioner Alduin brought you in."
“Ahh, yes. That’s right, folks! NFC Commissioner Alduin invited me here personally and our exhibition match proves to be… challenging. Let’s check in on the action below.”
I look down and see The Puppet Man sat down and gesturing to the figure under the sheet, like he’s got a negotiation going on. The boy, undeterred and furious, rushes towards him and takes his back, slapping his head and even pulling on his hair with extreme prejudice.
“Well take a gander at that, that kid has absolutely NO fear. When I was his age, I would have stayed FAR the fuck away from a nightmare spectre like that. But hell, this is all part of the show, right? Hope they’re paying that poor guy down there a sizeable sum to throw a fight to a child. What do you think, Nelle; is this the weirdest make-a-wish fulfilment task or what?”
I look over to her, hoping she’d indulge me and that I could believe this was just going to end with a pissed off actor storming away when the child hit him too hard. But Nelle was scanning her now open book and looking for information on dolls.
“He’s talking to his doll because it’s desperate to be let loose. He’s trying to bargain with it to spare him. This is the nature of the puppeteer and his master.” She pushes the book to the centre of the table and shows me a faded illustration of a pristine Bunraku doll; a kind of meticulously crafted Japanese take on the ventriloquist doll. The limbs are thinner and the face is more minimalist, but still no more frightening. “They usually have a symbiotic relationship, but it seems this one obeys the doll and will not want to face more punishment.”
“What do you mean more punishment?” I ask, looking back down at the feverish puppet man as he tries signing frantically under the sheet, even putting his head under as the kid bites his arm and kicks him, screeching.
“The nails, Sal. Those aren’t to silence him, they’re to punish him.”
The rest happened in slow motion; the sheet fell down. The puppet man stood up and walked to his side of the fighters corner, facing the elevator and placing his face into his forearms as he shook. The boy followed to keep attacking, but with one swift kick to the midsection, the boy was propelled back to the centre of the pit where the doll sat.
If there was a human face, I didn’t see it. Instead, I was staring down at a small wood carved spider, the head sporting black geisha hair and the makeup still present, but rows of sharpened black teeth protruded from the clicking mouth and two larger eyes jutted out from the base of the skull, smaller ones dotted closely around it. It was like seeing a puppet ogre spider.
“Looks like The Puppet Man has let Mr. Stares out to say hi and I can certainly see why he was under that sheet, this one isn’t pretty folks! The face doth fit the name. The question is, what’s he doing to do ne-
“I didn’t need to finish the question. My hands shook, and the world spun around me as this creature crawled towards the still wheezing boy with ungodly speed and perched itself expertly beside him. I don’t know if it was my eyes or the distance from where I sat, but this was NOT a small puppet. He was easily half of the boy’s height and that became more unnerving when he reared up on his back legs, the head clicking up and the raspy voice hissing out like a gas leak in a building.
“Hey, hey, kid! Wanna make a deal?” The kid rubbed his eyes, seemingly realising where he was as he calmed down and an air of utter confusion around him.
“If you let me be your new master and you promise to take care of me, I’ll let you go!” His head spun around and the jaw clicked ferociously as he giggled, extending out a clawed paw. “Whaddya say?”
The boy, still confused, slowly reached out his hand and the moment immediately reminded me of a slew of nature shows I’d seen as a kid; where a predator waits until the prey is lulled before striking. I felt the chill up my spine as he extended his hand and grabbed Mr. Stares.
In that moment, he leapt up the arm and bore his way into the boy’s mouth, down his throat and shredded his flesh. The sound was so horrifying, so visceral that it outshines any backyard stabbing, joint snap or broken nose. The boy didn’t even have time to scream, he simply looked up with tear-stained eyes as the puppet disappeared.
Then he started walking without him realising. He looked down at his limbs, terrified, looked over at The Puppet Master, who still had his head to the elevator and pleaded with someone, anyone to help him. I looked to Nelle who refused to take her eyes away, studying the battle in an almost morbid scientific curiosity, detached entirely from the scenario.
I couldn’t fathom how she did it, how she ignored this boy begging us to get him out of there.
I wanted to. Every instinct in me as a fight fan and a decent human was to scream “STOP THE FIGHT!”.
But clearly, when my own life is at risk and money is involved...
I am not a decent human.
Instead, with bile in my throat and a sweating forehead, I did my job.
“M-My goodness! The P-uppet, I mean, “Mr. Stares” has BECAME the puppet master, surely the fight will be over with our young competitor incapacitated? What does our commissioner have to say about this?”
She stared at me, her one eye gleaming and her face elated with the violence.
“It ain’t over yet, church boy. We haven’t even seen the finale, have we Puppet Master?!” She laughs and slaps her knee, the puppet master sobbing as he sinks to the floor and she continues.
“He ain’t done feeding, not yet.”
The way she said that word “feeding” nearly made me lose what food I had in me. That was a young man, somebody's baby boy…
“What does she mean by that, Nelle? What is the strategy to victory here?”
Nelle looked down at her book and traced her finger across a passage before wiping her forehead and pushing the locks aside. If her composure wasn’t breaking yet, it would do soon.
“This kind of parasitic doll feasts on its prey and targets non-essential organs first, controls the host with the neurotoxin in its tail and then, when it’s finally content, it gives the brain a second injection.”
“What happens then?” I asked, my own professionalism hanging on by a fucking thread at this point. She shook her head and pinched the bridge of her nose.“I guess you’ll see in a moment, I sure as hell don’t want to. Not again.”
Before I can prompt her further, the boy lets out an ear-piercing shriek and falls to his knees, gripping at his head before it turned red, then purple and finally an ugly shade of puce before…
The sound of a watermelon hitting the ground from a great height is the best comparison you’re going to get without making me want to rush to the toilet to puke for a third time. But that’s what happened. His head burst and chunks of his skull, flesh and brain matter sprayed the pit and the walls, some hitting my desk and making me audibly shriek, much to the commissioner's delight.
“HA! You didn’t run! I like you, Sal. You pass for the tournament!” She hauls her body up and slams down to the pit, applauding as the microphone descends from the heavens. “And your winner; The Puppet Man and Mr. Stares!”
The crowd erupts with applause as the weeping puppet man pulls the blood-soaked puppet out, places him under the sheet and silently begins to walk back to the elevator while attendees clear up the boy’s corpse.
“What… what the fuck IS this place?” I ask Nelle, pausing my recording.
“This is where nightmares are kept and set upon mostly unwilling competitors for the world’s amusement. You HAVE done dark web fights before, right? Mafia snitches being put into lions pits, bum fights, addicts fighting women to score… this can’t be THAT unusual to you?”
I stared at her incredulously. Was that even a question?
“I did the dark web ONCE and it damn sure didn’t involve monsters!”
She scoffs and closes her book, stretching before looking at me with contempt.
“Oh, it did. Just not the ones you hear about in fairytales. Good luck with the selection process. I’ll be back for the opening round. Don’t try to run, they’ll devour us both in minutes, if you think this is the pinnacle of what lurks beneath this club, you're in for a rough night.” She sauntered off, leaving me deflated, sickened and terrified. Unable to leave and frustrated to the point of tears that I couldn’t express that concoction of emotions, I did what I always do; I regressed and pressed “record” on the device as Commissioner Alduin continued.
At that moment, however, I was deaf to it all. The gravity of the situation had fully enveloped me…
They weren’t kidding about the unwilling participants, I just didn’t realise I would be one of them.On every side of me sits men and women with a desire for violence that goes beyond the norm, beyond the sane and beyond the boundaries of humanity.Below me are an untold number of creatures rattling their cages and howling for blood.
Across from me is a woman so powerful she could crush my skull beneath her boot with the utmost ease if it so amused her.
That invitation was nothing more than my own ransom note in pretty colours and flattering platitudes.
I was in a tournament housing nightmares incarnate.
And it would only get more violent from here on out.
-
The opening round was a blood bath.
submitted by tjaylea to nosleep [link] [comments]

What is bitcoin exactly Bitcoin explained in under 2 mins Free BitCoins - Bitcoin Mining HQ - YouTube How Does Bitcoin Work? - YouTube Bitcoin's Halving in 2020 - Will It Spark the Next Bitcoin Bull Run? Bitcoin explained and made simple  Guardian Animations ...

4. Bitcoin Mining Pools. Mining is an extremely competitive game. Even if you buy the best possible miner out there, you’re still at a huge disadvantage compared to professional Bitcoin mining farms.That’s why mining pools came into existence.. The idea is simple – miners group together to form a “pool” so they can combine their mining power and compete more effectively. Bitcoin mining is done by specialized computers. The role of miners is to secure the network and to process every Bitcoin transaction. Miners achieve this by solving a computational problem which allows them to chain together blocks of transactions (hence Bitcoin’s famous “blockchain”).. For this service, miners are rewarded with newly-created Bitcoins and transaction fees. Bitcoin mining is called proof of work. Equipment and energy costs are consumed in the process. Bitcoin backers believe this proof of work is necessary for the currency to have value. Bitcoin mining is, in short, the means by which users are rewarded for verifying transactions on the blockchain: giving them newly minted Bitcoin for their efforts. It also protects the currency from counterfeiting and double-spending. Bitcoin mining is the process by which new bitcoins are entered into circulation, but it is also a critical component of the maintenance and development of the blockchain ledger.

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What is bitcoin exactly Bitcoin explained in under 2 mins

As Bitcoin's halving draws closer and closer, you hear more people buzzing about it in the crypto world. What exactly is Bitcoin's halving, how does it work,... Bitcoin is a software-based online payment system described by Satoshi Nakamoto in 2008 and introduced as open-source software in 2009. Payments are recorded in a public ledger using its own unit... Bitcoin is the first de-centralized currency. It is a digital currency that requires no bank or central repository and is the future of money. Bitcoins are digita coins that can be sent through ... However, what exactly is Bitcoin? If you are new to this field or have just heard of Bitcoins, then there’s probably a lot of questions on your mind right now. Bitcoin is a form of digital currency. Thanks to Away for sponsoring this video! Go to https://www.awaytravel.com/techquickie and use promo code techquickie to get $20 off your next order! Bitcoin...

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