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patriksvensson

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offchain.medium.com 4y ago

Arbitrum is now live on Ethereum mainnet

patriksvensson
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Just 137 crypto miners use 2.3% of total U.S. power 2 years ago

It's running proof of stake, successfully for over 512 days!

Uses validators instead of mining, the power footprint of the ENTIRE network was reduced by 99.995%.

Crypto isn't power inefficient, BITCOIN MINING is power inefficient.

Can't wait for the typewriter (Bitcoin) to be replaced by the computer (Ethereum).

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Make Ethereum Cypherpunk Again 3 years ago

L1 (Ethereum Mainnet) fees spike that high, L1 is the highest secure layer of the network and inherently higher price during peak usage. Pick a flavour of L2 of your choice and enjoy cents per transaction. See prices here https://l2fees.info/

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Bitcoin Core 26.0 3 years ago

Stop spreading FUD about Ethereum (SOL and EOS, valid).

Ethereum shares the same philosophy of ensuring that clients are capable of being used on lower end hardware to ensure diversity of nodes.

Ethereum nodes can and are being run on Raspberry PI's + SSD drives.

You can even validate the Ethereum network on a Raspberry PI.

In Ethereum you "validate" instead of "mine" like in bitcoin, this is what keeps the network secure and validating is much more power efficient (99.995% less power use than Bitcoin for). See Proof of Stake vs Proof of Work.

My question to you is: Look at BTC. What kind of specialized, expensive, environmentally unfriendly, ASICS do you need to secure the chain?

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Google Drive files suddenly disappeared 3 years ago

I've been doing Google Takeout backups to Synology for a while. Curious is you or any other users have an automated way to do this instead? So an automated way to backup Google Photos to Synology.

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Evolution of the Ethereum proof-of-stake consensus protocol 4 years ago

Correct, the plan is to scale to that level but currently is not doing that. The current L1 (Ethereum Mainnet) + L2 combined TPS can be seen here https://ethtps.info/

Important to note that Ethereum embraces the idea that L2's will provide a lot of the scale and L1 will remain the base, main layer of security. So the goal isn't for L1 to scale massively, but to be able to support a healthy ecosystem of secure L2's which scale in different ways!

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Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half 5 years ago

Honest question: Have you calculated your profits now VS what your profits would have been if those same $$ purchased the cryptocurrency of your choice on the day you bought the cards instead? Which would have been more profitable (taking selling the equipment after into consideration as well).

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Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014) 5 years ago

Interesting, that IS slightly better than I expected, at least for Ethereum. So if we treat each block being found as a lottery "ticket" and that solo miner with a 5700xt on average can expect to mine a block ("win the lottery") once every 43 months....

For Ethereum:

1 block every 15 seconds

5760 blocks in a day

172800 in a month (30day avg)

7430400 blocks in a 43 month period.

So about 1 in 7 430 400 odds when solo mining. Pool highly recommended specially because Ethereum is moving away from the current system of mining long before 43 months from now!

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Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014) 5 years ago

Correct, mining in a pool you are guaranteed your fair share of the mining (minus admin fee from the pool operators). Even if you never mine a single block, you get your fair share of the mined blocks by the pool.

If you were to mine by yourself, you'd get zero pay outs unless you actually mined a block. It is possible, but the odds are on par with winning the lottery.

DYOR on pools, but I can recommend f2pool (https://www.f2pool.com/) for Ethereum mining.

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