How To Mine Bitcoins – TechCrunch

ZiftrWALLET QT Update and Pools - Coming Soon

Sneak Peak

 
Hey guys,
 
I know there has been a lot of talk about pool mining, so I wanted to give you guys a quick peak at an update coming soon to the qt wallet. This update will allow you to pool mine right from the wallet client. Keep an eye out for it!
 
submitted by RyanCD to ziftrCOIN [link] [comments]

ZiftrCOIN Launch Update

Announcing the ziftrCOIN Release

ZiftrCOIN will be launching this Saturday(February 28th) see more info here. We’ve put a lot of hard work into it and a large portion of our efforts have been leading to this very moment. We couldn’t have gotten here without all the support we received during the ziftrCOIN Presale and we just want to again express our gratitude to all presale participants, as well as everyone who has expressed interest in ziftrCOIN.
 

Specifications:

 
We are pre-mining 4.5% of the total ziftrCOINs, 66.7% of which we will give away to consumers. In doing this, we hope that more consumers start to become familiar with cryptocurrency.
 

You will be able to begin CPU mining via the ziftrCOIN-Qt wallet immediately upon release to get a bit of a head start. As for GPU mining, we’re waiting to release our GPU code until 1-2 weeks after the coin release date. Why? A couple reasons:

 
Be sure to follow ziftrCOIN on Twitter (@ziftrcoin) for all mining update announcements.
     

What Makes ziftrCOIN different?

 

$1 Minimum Redemption Value

 
ziftrCOIN comes with a built-in use case. When spent in Ziftr’s merchant network, each ziftrCOIN will have a minimum redemption value of $1. Think of ziftrCOINs as your very own Ziftr coupons.
   

Incentivized Proof of Knowledge Mining

 
In our version of Proof of Knowledge, the miner may optionally prove knowledge of transaction data while mining to get a slightly higher reward. More specifically, a block solved with Proof of Knowledge of transaction data is allowed to claim a 5% higher reward than those that are not. The idea here is that we want to incentivize miners to run their own software to decide which transactions will be processed, rather than just working on data given by the pool operator. With this setup, pools can still exist to limit the variance of miners, but are no longer the source for transaction data while mining. In addition, an SPV node may verify the Proof of Knowledge of transaction data with only one more transaction from the block, rather than downloading the full block data.
 

Mature Coins Spent as a Tiebreaker

 
In ziftrCOIN, the core client calculates the number of sufficiently old coins spent in each new block received on the peer-to-peer network. When two blocks are solved on the tip of the chain at nearly the same time, the block with more sufficiently old coins spent in it is chosen as the correct block. Chains are still prioritized by most-work first; the counting of old coins spent is only used when two chains have the same work. This tiebreaking strategy makes it unprofitable for a miner to mine PoK blocks while not including transactions because the blocks would have far fewer old coins spent in the block, and they would lose ties. Since the tiebreaking strategy is mathematically expected to take effect in approximately 18% of blocks, a 5% increase in rewards would not be sufficient to make this attack worthwhile.
 

Dynamic Block Size Limit

 
The ziftrCOIN block size limit is not set to a fixed constant, as is currently done in Bitcoin. Instead, the chain automatically allows for growth as transaction volume increases. This can be faked by miners, but a clear majority of miners must be artificially increasing block size limits in order for the block size limit to increase unnecessarily. The block size growth is limited to 10% every 3 months, which is roughly equivalent to doubling every 2 years.
 

Coin Distribution Model

Most coins follow a halving block reward distribution that incentivizes early adopters to participate before the block reward drops. Instead, we decided to try to match the distribution with common adoption curves for new technologies. For example, the chart contained in this article (below for convenience) shows the standard adoption curve of new technologies. Ten billion total ziftrCOINs will be created over 30 years, with the coins distributed in each block changing each day following a standard bell curve.
 

Support for OP_CHECKLOCKTIMEVERIFY

The Bitcoin scripting language currently has no way to make a transaction output that cannot be spent until a later point in time. The ziftrCOIN network supports the use of both OP_CHECKLOCKTIME and OP_CHECKLOCKTIMEVERIFY to allow the creation of outputs that can only be spent after a certain point in the blockchain. This is useful in many scenarios, such as using escrow with a third party who cannot participate in the arbitration process unless there is actually a problem between the two transacting parties. This scripting opcode was also used to lock up the coins that Ziftr received (not including giveaway coins) in the genesis block. The goal here is to prove to the community that we are not going to take the coins we have set aside and dump them on the market, because we literally could not even if we wanted to. The core client, however, does not currently relay transactions that use these types of outputs, but these rules will likely be relaxed soon.
 

Convenient Transaction Processing Speed

The expected generation rate of ziftrCOIN blocks is 1 block per minute. This block generation time was chosen as a trade-off between convenience and consensus.
   
We hope you’re as excited as we are about the release of ziftrCOIN! If you have any questions or comments, please reach out to us on Twitter or Reddit or email us directly at [email protected].
     
submitted by RyanCD to ziftrCOIN [link] [comments]

Want to get into ZiftrMining

Hello I have no former experience mining currency. I have heard that you can only mine Ziftrcoins with cpu/gpu and since that is what i have that it would be more profitable that bitcoin. My question is how worh it is it and can it be profitable. Also how would I get started?
submitted by Lonestarr929 to ziftrCOIN [link] [comments]

Announcing the ZiftrCOIN Release (x-post from /r/ziftrcoin)

Announcing the ziftrCOIN Release

ZiftrCOIN will be launching this Saturday(February 28th) at noon(12 p.m. EST)! We’ve put a lot of hard work into it and a large portion of our efforts have been leading to this very moment. We couldn’t have gotten here without all the support we received during the ziftrCOIN Presale and we just want to again express our gratitude to all presale participants, as well as everyone who has expressed interest in ziftrCOIN.
 

Specifications:

 
We are pre-mining 4.5% of the total ziftrCOINs, 66.7% of which we will give away to consumers. In doing this, we hope that more consumers start to become familiar with cryptocurrency.
 

You will be able to begin CPU mining via the ziftrCOIN-Qt wallet immediately upon release to get a bit of a head start. As for GPU mining, we’re waiting to release our GPU code until 1-2 weeks after the coin release date. Why? A couple reasons:

 
Be sure to follow ziftrCOIN on Twitter (@ziftrcoin) for all mining update announcements.
     

What Makes ziftrCOIN different?

 

$1 Minimum Redemption Value

 
ziftrCOIN comes with a built-in use case. When spent in Ziftr’s merchant network, each ziftrCOIN will have a minimum redemption value of $1. Think of ziftrCOINs as your very own Ziftr coupons.
   

Incentivized Proof of Knowledge Mining

 
In our version of Proof of Knowledge, the miner may optionally prove knowledge of transaction data while mining to get a slightly higher reward. More specifically, a block solved with Proof of Knowledge of transaction data is allowed to claim a 5% higher reward than those that are not. The idea here is that we want to incentivize miners to run their own software to decide which transactions will be processed, rather than just working on data given by the pool operator. With this setup, pools can still exist to limit the variance of miners, but are no longer the source for transaction data while mining. In addition, an SPV node may verify the Proof of Knowledge of transaction data with only one more transaction from the block, rather than downloading the full block data.
 

Mature Coins Spent as a Tiebreaker

 
In ziftrCOIN, the core client calculates the number of sufficiently old coins spent in each new block received on the peer-to-peer network. When two blocks are solved on the tip of the chain at nearly the same time, the block with more sufficiently old coins spent in it is chosen as the correct block. Chains are still prioritized by most-work first; the counting of old coins spent is only used when two chains have the same work. This tiebreaking strategy makes it unprofitable for a miner to mine PoK blocks while not including transactions because the blocks would have far fewer old coins spent in the block, and they would lose ties. Since the tiebreaking strategy is mathematically expected to take effect in approximately 18% of blocks, a 5% increase in rewards would not be sufficient to make this attack worthwhile.
 

Dynamic Block Size Limit

 
The ziftrCOIN block size limit is not set to a fixed constant, as is currently done in Bitcoin. Instead, the chain automatically allows for growth as transaction volume increases. This can be faked by miners, but a clear majority of miners must be artificially increasing block size limits in order for the block size limit to increase unnecessarily. The block size growth is limited to 10% every 3 months, which is roughly equivalent to doubling every 2 years.
 

Coin Distribution Model

Most coins follow a halving block reward distribution that incentivizes early adopters to participate before the block reward drops. Instead, we decided to try to match the distribution with common adoption curves for new technologies. For example, the chart contained in this article (below for convenience) shows the standard adoption curve of new technologies. Ten billion total ziftrCOINs will be created over 30 years, with the coins distributed in each block changing each day following a standard bell curve.
 

Support for OP_CHECKLOCKTIMEVERIFY

The Bitcoin scripting language currently has no way to make a transaction output that cannot be spent until a later point in time. The ziftrCOIN network supports the use of both OP_CHECKLOCKTIME and OP_CHECKLOCKTIMEVERIFY to allow the creation of outputs that can only be spent after a certain point in the blockchain. This is useful in many scenarios, such as using escrow with a third party who cannot participate in the arbitration process unless there is actually a problem between the two transacting parties. This scripting opcode was also used to lock up the coins that Ziftr received (not including giveaway coins) in the genesis block. The goal here is to prove to the community that we are not going to take the coins we have set aside and dump them on the market, because we literally could not even if we wanted to. The core client, however, does not currently relay transactions that use these types of outputs, but these rules will likely be relaxed soon.
 

Convenient Transaction Processing Speed

The expected generation rate of ziftrCOIN blocks is 1 block per minute. This block generation time was chosen as a trade-off between convenience and consensus.
   
We hope you’re as excited as we are about the release of ziftrCOIN! If you have any questions or comments, please reach out to us on Twitter or Reddit or email us directly at [email protected].
     
submitted by RyanCD to CryptoCurrency [link] [comments]

Introducing ZiftrCOIN

Hi All! Wanted to take a moment to officially introduce ZiftrCOIN. We're excited to introduce our new tools and apps to the community and let you guys know what we’ve been up to recently.
 

ZiftrCOIN Specifications:

 

How is ZiftrCOIN different?

One of ziftrCOIN’s key differentiators is that it’s not trying to compete with Bitcoin or other altcoins. We’re actually trying to help raise the value of all coins and increase cryptocurrency adoption rates. By using ziftrCOINs as the gateway coin into cryptocurrency for the next 10 million users, we are hoping to effectively introduce people to the benefits of this great technology and create one seamless experience where people can play around and use all the different types of coins they want to. ziftrCOIN also introduces some new ideas and technology into existing cryptocurrency. It's all laid out in our white paper if you want the detailed technical information. The short version is that we have some features designed to prevent large mining pools and to keep our coins decentralized. We're also guaranteeing that ziftrCOINs can be redeemed for a minimum of $1 in Ziftr’s retailer network.
 

The ZiftrVERSE:

Our full suite of products and services (ZiftrCOIN is a part of the ZiftrVERSE)
 

ZiftrCOIN

ZiftrCOIN’s goal is to introduce more people into cryptocurrency, while also improving on certain technical features of popular coins today.

- Current Stage: Development

 

ZiftrWALLET

One of our main focuses so far has been to develop a user friendly wallet, that has some great new features we felt have been lacking in the current wallet environment.
 

Wallet Feature Overview:

  1. Stores multiple cryptocurrencies
  2. Puts security into the hands of the user
  3. Requires minimal storage space.
  4. Frequently updates market value numbers for all coins

- Current Stage: Open for Beta Testing. Limited invites per day.

 

ZiftrSHOP

A worldwide online marketplace where consumers can search for hundreds of millions of products among Ziftr’s tens of thousands of retailers and conduct transactions using credit cards or cryptocurrency.

- Current Stage: Ziftr.com being redesigned

 

ZiftrPAY

A secure API that enables retailers to accept both cryptocurrency and credit cards without having to view or store the customer’s credit card information

- Current Stage: API developed, working to integrate new retailers

 
If you would like an invite to the wallet beta, go ahead and sign up at www.ziftrwallet.com and tweet using #ziftrwallet to @ziftrcoin for a priority invite.
 

Links

• Whitepaper - http://www.ziftrcoin.com/docs/ziftrcoin-whitepaper.pdf
• Official website - www.ziftrcoin.com
• FAQ - http://www.ziftrcoin.com/what-is-ziftrcoin/faq/
• Announcements - https://www.ziftrcoin.com/news/
• Twitter - https://twitter.com/ZiftrCoin
• Google+ - https://plus.google.com/+Ziftrcoin/posts
submitted by ziftrcoin to ziftrCOIN [link] [comments]

How To Mine 1 Bitcoin in 10 Minutes - Blockchain BTC Miner ... ZiftrCoin CPU Mining Guide - Crypto Currency for the masses? MASSIVE Crypto Mining Farm Tour  Bitcoin, Dash, and GPU ... How to mine bitcoins (solo mining) with the core client ... Ziftrcoin Wallet And Mining On Linux

Can you update when we can start mining... Its February! jump to content. my subreddits. edit subscriptions. popular-all-random-users AskReddit-news-funny-pics-gaming-worldnews-aww-todayilearned -gifs-tifu-mildlyinteresting-movies-videos-Jokes-Showerthoughts-science-TwoXChromosomes-Music-explainlikeimfive-OldSchoolCool-food-space-EarthPorn-askscience-GetMotivated-sports-Documentaries-Art ... Mining bitcoins – a process that helps manage bitcoin transactions as well as create new “wealth” – is the new Beanie Babies. Luckily for us, however, bitcoins seem to be going up in value ... Just started mining Ziftr and have only been using CPU's. I am getting about 7 MH and see people on my pool pulling 100 MH. I am assuming they are using GPU's to mine. Where/how the hell do you find/make a GPU miner? Everything is ASIC for bitcoin nowadays. Does anyone have any recommendations that aren't going to make me go broke and improve my hash rate? Thanks :) The GPU mining availability for ZiftrCOIN is going to make CPU mining the coin pointless, so you might want to switch to something else if you have idle CPU power for mining crypto currencies. – To download and try the sgminer 5.1.0 ZiftrCOIN GPU miner for Windows OS… ZiftrCOIN uses a mining process that can be configured to prove that a miner has knowledge of the transaction data they are mining. When mining with proof of knowledge turned on, you can claim 5% more in your block rewards.* Proof of Knowledge mining requires that you prove you know the transaction data in your block, meaning you likely built the block yourself instead of blindly mining on ...

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How To Mine 1 Bitcoin in 10 Minutes - Blockchain BTC Miner ...

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