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MeWe: A trip report

Among the more frequently mentioned G+ alternatives at the Google+ Mass Migration community, and others, is MeWe with over 250 mentions. The site bills itself as "The Next-Gen Social Network" and the "anti-Facebook": "No Ads, No Political Bias, No Spyware. NO BS. It is headed by professed Libertarian CEO Mark Weinstein.
As the site reveals no public user-generated content to non-members, it's necessary to create an account in order to get a full impression. I thought I'd provide an overview based on recent explorations.
This report leads of with background on the company, though readers may find the report and analysis of specific groups on the site of interest.

Leadership

Founder & CEO Mark Weinstein.
Co-Founder & Chief Scientist, Jonathan Wolfe (no longer with company).
Weinstein previously founded SuperFamily and SuperFriends, "at the turn of the millennium". Weinstein's MeWe biography lists articles published by The Mirror (UK), Huffington Post, USA Today, InfoSecurity Magazine, Dark Reading, and the Nation. His media appearances include MarketWatch, PBS, Fox News, and CNN. He's also the author of several personal-success books.
His Crunchbase bio is a repeat of the MeWe content.

Advisory Board

Ownership & Investment

MeWe is the dba of Sgrouples, a private for-profit early-stage venture company based in Los Angeles, though with a Mountain View HQ and mailing address, 11-50 employees, with $10m in funding over five rounds, and a $20m valuation as of 2016.
Sgrouples, Inc., dba MeWe Trust & Safety - Legal Policy c/o Fenwick West 801 California Street Mountain View, CA 94041
Crunchbase Profile.
Founded: 2012 (source)
Secured $1.2M in seed funding in 2014.
2016 valuation: $20m (source]
Backers:
Despite the business address, the company claims to be based in Los Angeles County, California and is described by the Los Angeles Business Journal as a Culver City, CA, company.

Business

Policy

In an August 6, 2018 Twitter post, Weinstein promotes MeWe writing:
Do you have friends still on Facebook? Share this link with them about Facebook wanting their banking information - tell them to move to MeWe now! No Ads. No Spyware. No Political Agenda. No Bias Algorithms. No Shadow Banning. No Facial Recognition.
MeWe provide several policy-related links on the site:
Highlights of these follow.

Privacy

The privacy policy addresses:

Terms of Service

The ToS addresses:
Effective: November 6, 2018.

FAQ

The FAQ addresses:

Values

This emphasises that people are social cratures and private people by right. The service offers the power of self expression under an umbrella of safety. It notes that our innermost thoughts require privacy.
Under "We aspire...":
MeWe is here to empower and enrich your world. We challenge the status quo by making privacy, respect, and safety the foundations of an innovatively designed, easy-to-use social experience.
Totalling 182 words.

Privacy Bill of Rights

A ten-item statement of principles (possibly inspired by another document, it might appear):
  1. You own your personal information & content. It is explicitly not ours.
  2. You will never receive a targeted advertisement or 3rd party content based on what you do or say online. We think that's creepy.
  3. You see every post in timeline order from your friends, family & groups. We do not manipulate, filter, or change the order of your content or what you see.
  4. Permissions & privacy are your rights. You control them.
  5. You control who can access your content.
  6. You control what, if anything, others can see in member searches.
  7. Your privacy means we do not share your personal information with anyone.
  8. Your emojis are for you and your friends. We do not monitor or mine your data.
  9. Your face is your business. We do not use facial recognition technology.
  10. You have the right to delete your account and take your content with you at any time.

Press

There are a few mentions of MeWe in the press, some listed on the company's website, others via web search.

Self-reported articles

The following articles are linked directly from MeWe's Press page:
The page also lists a "Privacy Revolution Required Reading" list of 20 articles all addressing Facebook privacy gaffes in the mainstream press (Wired, TechCrunch, Fortune, Gizmodo, The Guardian, etc.).
There are further self-reported mentions in several of the company's PR releases over the years.

Other mentions

A DuckDuckGo search produces several other press mentions, including:

Technology

This section is a basic rundown of the user-visible site technology.

Mobile Web

The site is not natively accessible from a mobile Web browser as it is overlayed with a promotion for the mobile application instead. Selecting "Desktop View" in most mobile browsers should allow browser-based access.

Mobile App

There are both Android and iOS apps for MeWe. I've used neither of these, though the App store entries note:
Crunchbase cites 209,220 mobile downloads over the past 30 days (via Apptopia), an 80.78% monthly growth rate, from Google Play.

Desktop Web

Either selecting "View Desktop" or navigating with a Desktop browser to https://www.mewe.com your are presented with a registration screen, with the "About", "Privacy Bill of Rights", "MeWe Challenge", and a language selector across the top of the page. Information requested are first and last name, phone or email, and a password. Pseudonymous identities are permitted, though this isn't noted on the login screen. Returning members can use the "Member Log In" button.
The uMatrix Firefox extension reveals no third-party content: all page elements are served from mewe.com, img.mewe.com, cdn.mewe.com, or ws.mewe.com. (In subsequent browsing, you may find third-party plugins from, for example, YouTube, for videos, or Giphy, for animated GIFs.)
The web front-end is nginx. The site uses SSL v3, issued by DigiCert Inc. to Sgrouples, Inc.

Onboarding

The onboarding experience is stark. There is no default content presented. A set of unidentified icons spans the top of the screen, these turn out to be Home, Chats, Groups, Pages, and Events. New users have to, somehow, find groups or people to connect with, and there's little guidance as to how to do this.

Interface

Generally there is a three panel view, with left- and right-hand sidebars of largely navigational or status information, and a central panel with main content. There are also pop-up elements for chats, an omnipresent feature of the site.
Controls display labels on some devices and/or resolutions. Controls do not provide tooltips for navigational aid.

Features

Among the touted features of MeWe are:

Community

A key aspect of any social network is its community. Some of the available or ascertained information on this follows.

Size

Weinstein claims a "million+ following inside MeWe.com" on Twitter.
The largest visible groups appear to have a maximum of around 15,000 members , for "Awesome gifs". "Clean Comedy" rates 13,350, and the largest open political groups, 11,000+ members.
This compares to Google+ which has a staggering, though Android-registrations-inflated 3.3 billion profiles, and 7.9 million communities, though the largest of these come in at under 10 million members. It's likely that MeWe's membership is on the whole more more active than Google+'s, where generally-visible posting activity was limited to just over 9% of all profiles, and the active user base was well under 1% of the total nominal population.

Active Users

MeWe do not publish active users (e.g., MUA / monthly active users) statistics.

Groups

MeWe is principally a group-oriented discussion site -- interactions take place either between individuals or within group contexts. Virtually all discovery is group-oriented. The selection and dynamics of groups on the site will likely strongly affect user experience, so exploring the available groups and their characteristics is of interest.
"MeWe has over 60,000 open groups" according to its FAQ.
The Open groups -- visible to any registered MeWe user, though not to the general public Web -- are browsable, though sections and topics must be expanded to view the contents: an overview isn't immediately accessible. We provide a taste here.
A selection of ten featured topics spans the top of the browser. As I view these, they are:
Specific groups may appear in multiple categories.
The top Groups within these topics have, variously, 15,482, 7,738, 15,482 (dupe), 7,745, 8,223, 8,220, 1,713, 9,527, 2,716, and 1,516 members. Listings scroll at length -- the Music topic has 234 Groups, ranging in size from 5 to 5,738 members, with a median of 59, mean of 311.4, and a 90%ile of 743.5.
Below this is a grid of topics, 122 in all, ranging from Activism to Wellness, and including among them. A selected sample of these topics, with top groups listed members in (parens), follows:
To be clear: whilst I've not included every topic, I've sampled a majority of them above, and listed not an arbitrary selection, but the top few Groups under each topic.

Google+ Groups

The Google Plus expats group seems the most active of these by far.

Political Groups

It's curious that MeWe make a specific point in their FAQ that:
At MeWe we have absolutely no political agenda and we have a very straightforward Terms of Service. MeWe is for all law-abiding people everywhere in the world, regardless of political, ethnic, religious, sexual, and other preferences.
There are 403 political groups on MeWe. I won't list them all here, but the first 100 or so give a pretty clear idea of flavour. Again, membership is in (parentheses). Note that half the total political Groups memberships are in the first 21 groups listed here, the first 6 are 25% of the total.
  1. Donald J. Trump 2016 - Present (11486)
  2. The Conservative's Hangout (8345)
  3. Qanon Follow The White Rabbit (5600)
  4. Drain The Swamp (4978)
  5. Libertarians (4528)
  6. United We Stand Trump2020 (4216)
  7. The Right To Self Defense (3757)
  8. Alternative Media (3711)
  9. Hardcore Conservative Patriots for Trump (3192)
  10. Bastket Of Deplorables4Trump! (3032)
  11. Return of the Republic (2509)
  12. Infowars Chat Room Unofficial (2159)
  13. Donald Trump Our President 2017-2025 (2033)
  14. Berners for Progress (1963)
  15. Sean Hannity Fans (1901)
  16. The American Conservative (1839)
  17. I Am The NRA (1704)
  18. Tucker Carlson Fox News (1645)
  19. We Love Donald Trump (1611)
  20. MAGA - Make America Great Again (1512)
  21. Q (1396)
  22. ClashDaily.com (1384)
  23. news from the front (1337)
  24. Basket of Deplorables (1317)
  25. Payton's Park Bench (1283)
  26. Convention of States (1282)
  27. Britons For Brexit (1186)
  28. MoJo 5.0 Radio (1180)
  29. MeWe Free Press (1119)
  30. The Constitutionally Elite (1110)
  31. Libertarian (1097)
  32. WOMEN FOR PRESIDENT TRUMP (1032)
  33. AMERICANS AGAINST ISIS and OTHER ENEMIES (943)
  34. #WalkAway Campaign (894)
  35. ALEX JONES (877)
  36. The Lion Is Awake ! (854)
  37. We Support Donald Trump! (810)
  38. The Stratosphere Lounge (789)
  39. TRUMP-USA-HANDS OFF OUR PRESIDENT (767)
  40. Official Tea Party USA (749)
  41. Mojo50 Jackholes (739)
  42. Yes Scotland (697)
  43. "WE THE DEPLORABLE" - MOVE ON SNOWFLAKE! (688)
  44. Judge Jeanine Pirro Fans (671)
  45. Anarcho-Capitalism (658)
  46. Ted Cruz for President (650)
  47. No Lapdog Media (647)
  48. Q Chatter (647)
  49. Daily Brexit (636)
  50. Tucker Carlson Fox News (601)
  51. The Trumps Storm Group (600)
  52. QAnon-Patriots WWG1WGA (598)
  53. 100% American (569)
  54. Ladies For Donald Trump (566)
  55. Deep State (560)
  56. In the Name of Liberty (557)
  57. Material Planet (555)
  58. WikiUnderground (555)
  59. Trump NRA Free Speech Patriots on MeWe Gab.ai etc (546)
  60. Magna Carta Group (520)
  61. Constitutional Conservatives (506)
  62. Question Everything (503)
  63. Conspiracy Research (500)
  64. Bill O'Reilly Fans (481)
  65. Conservative Misfit's (479)
  66. Canadian politics (478)
  67. Anarchism (464)
  68. HARDCORE DEPLORABLES (454)
  69. Deplorable (450)
  70. Tampa Bay Trump Club (445)
  71. UK Politics (430)
  72. Bongino Fan Page (429)
  73. Radical Conservatives (429)
  74. RESIST THE RESISTANCE (419)
  75. The Deplorables (409)
  76. America's Freedom Fighters (401)
  77. Politically Incorrect & Proud (399)
  78. CONSERVATIVES FOR AMERICA ! (385)
  79. Political satire (383)
  80. RISE OF THE RIGHT (371)
  81. UK Sovereignty,Independence,Democracy -Everlasting (366)
  82. The Patriots Voting Coalition (359)
  83. End The Insanity (349)
  84. Coming American Civil War! (345)
  85. Constitutional Conservatives (343)
  86. United Nations Watch (342)
  87. A Revival Of The Critical Thinking Union (337)
  88. The New Libertarian (335)
  89. Libertarian Party (official ) (333)
  90. DDS United (Duterte Die-hard Supporters) (332)
  91. American Conservative Veterans (331)
  92. Anarchism/Agorism/Voluntaryism (328)
  93. America Needs Donald Trump (326)
  94. The UKIP Debating Society (321)
  95. Coalition For Trump (310)
  96. Egalitarianism (306)
  97. FRIENDS THAT LIKE JILL STEIN AND THE GREEN PARTY (292)
  98. 2nd Amendment (287)
  99. Never Forget #SethRich (286)
  100. Green Party Supporters 2020 (283)
It seems there is relatively little representation from the left wing, or even the centre, of the political spectrum. A case-insensitive match for "liberal" turns up:
Mainstream political parties are little represented, though again, the balance seems skewed searching on "(democrat|republic|gop)":
The terms "left" and "right" provide a few matches, not all strictly political-axis aligned:
Socialism and Communism also warrant a few mentions:
And there are some references to green, laboulabor parties:

Conclusion

Whilst there may not be a political agenda, there does appear to be at least a slight political bias to the site. And a distinctive skew on many other topical subjects.
Those seeking new homes online may wish to take this into account.

Updates

submitted by dredmorbius to plexodus [link] [comments]

Of Wolves and Weasels - Day 156 - DOGE4DOGE - What's working for you?

Hey all! GoodShibe here!
Today I ask a simple question: What's working for you?
How is the Dogecoin experience panning out?
What could we be doing better?
You see, I've heard some people complaining that there isn't much yet for them to do with their Dogecoins... and that's a comment that really got me thinking.
One of the things that is essential to the long-term viability of our coin is Demand.
And if we can 'do' enough things with our coin, garner enough interest, have access to enough things and experiences that people want to take part in... then there's are a good chance that folks -- especially new-Shibes -- will brave the somewhat convoluted system required in order to get their hands on Dogecoins.
So... what would you like to be able to do, or buy with Dogecoins that you're not currently able to?
Let's make a wishlist together, here and now.
Something for the more enterprising Shibes amongst us to take and run with, to get their ideas flowing.
Things we wish we could buy with Dogecoins
Things we wish we could do with Dogecoins
Goals/Projects to undertake
It's through these sorts of exercises, by taking stock of where we are and where we'd like to be, that we can also help to build our DOGEconomy.
To give our community forward direction and momentum.
Think of it like putting a wish on the wind... sometimes you actually get what you want.
So, let's give it a try, my friends! Let's build a list and see if we can't all help ourselves get a little bit closer to the moon. ;D)
It's 8:06AM EST and we're at 82.30% of DOGEs found. Our Global Hashrate is down from ~50 to ~47 Gigahashes per second and our Difficulty is up slightly from ~714 to ~761.
As always, I appreciate your support!
GoodShibe
If you have work you need done, please consider hiring a Shibe first from our BOOTSTRAP SERVICE ECONOMY
If you have skills to sell for Dogecoin or would like to hire a skill that's not on the above list - let me know in the comments and I'll add your request here.
If you want to build a team or have a project you want to move forward, let me know in the comments.
If you have an artist you want to shout out or work you think needs more attention, or sale on the way or a business on the rise... let me know in the comments.
Together, we rise, my friends!
Services on Offer
Help Wanted
Projects Starting
Projects Ongoing
Shout-outs
Sales and Specials at Dogecoin Businesses
submitted by GoodShibe to dogecoin [link] [comments]

Decred Journal – August 2018

Note: you can read this on GitHub (link), Medium (link) or old Reddit (link) to see all the links.

Development

dcrd: Version 1.3.0 RC1 (Release Candidate 1) is out! The main features of this release are significant performance improvements, including some that benefit SPV clients. Full release notes and downloads are on GitHub.
The default minimum transaction fee rate was reduced from 0.001 to 0.0001 DCkB. Do not try to send such small fee transactions just yet, until the majority of the network upgrades.
Release process was changed to use release branches and bump version on the master branch at the beginning of a release cycle. Discussed in this chat.
The codebase is ready for the new Go 1.11 version. Migration to vgo module system is complete and the 1.4.0 release will be built using modules. The list of versioned modules and a hierarchy diagram are available here.
The testnet was reset and bumped to version 3.
Comments are welcome for the proposal to implement smart fee estimation, which is important for Lightning Network.
@matheusd recorded a code review video for new Decred developers that explains how tickets are selected for voting.
dcrwallet: Version 1.3.0 RC1 features new SPV sync mode, new ticket buyer, new APIs for Decrediton and a host of bug fixes. On the dev side, dcrwallet also migrated to the new module system.
Decrediton: Version 1.3.0 RC1 adds the new SPV sync mode that syncs roughly 5x faster. The feature is off by default while it receives more testing from experienced users. Other notable changes include a design polish and experimental Politeia integration.
Politeia: Proposal editing is being developed and has a short demo. This will allow proposal owners to edit their proposal in response to community feedback before voting begins. The challenges associated with this feature relate to updating censorship tokens and maintaining a clear history of which version comments were made on. @fernandoabolafio produced this architecture diagram which may be of interest to developers.
@degeri joined to perform security testing of Politeia and found several issues.
dcrdata: mainnet explorer upgraded to v2.1 with several new features. For users: credit/debit tx filter on address page, showing miner fees on coinbase transaction page, estimate yearly ticket rewards on main page, cool new hamburger menu and keyboard navigation. For developers: new chain parameters page, experimental Insight API support, endpoints for coin supply and block rewards, testnet3 support. Lots of minor API changes and frontend tweaks, many bug fixes and robustness improvements.
The upcoming v3.0 entered beta and is deployed on beta.dcrdata.org. Check out the new charts page. Feedback and bug reports are appreciated. Finally, the development version v3.1.0-pre is on alpha.dcrdata.org.
Android: updated to be compatible with the latest SPV code and is syncing, several performance issues are worked on. Details were posted in chat. Alpha testing has started, to participate please join #dev and ask for the APK.
iOS: backend is mostly complete, as well as the front end. Support for devices with smaller screens was improved. What works now: creating and recovering wallets, listing of transactions, receiving DCR, displaying and scanning QR codes, browsing account information, SPV connection to peers, downloading headers. Some bugs need fixing before making testable builds.
Ticket splitting: v0.6.0 beta released with improved fee calculation and multiple bug fixes.
docs: introduced new Governance section that grouped some old articles as well as the new Politeia page.
@Richard-Red created a concept repository sandbox with policy documents, to illustrate the kind of policies that could be approved and amended by Politeia proposals.
decred.org: 8 contributors added and 4 removed, including 2 advisors (discussion here).
decredmarketcap.com is a brand new website that shows the most accurate DCR market data. Clean design, mobile friendly, no javascript required.
Dev activity stats for August: 239 active PRs, 219 commits, 25k added and 11k deleted lines spread across 8 repositories. Contributions came from 2-10 developers per repository. (chart)

Network

Hashrate: went from 54 to 76 PH/s, the low was 50 and the new all-time high is 100 PH/s. BeePool share rose to ~50% while F2Pool shrank to 30%, followed by coinmine.pl at 5% and Luxor at 3%.
Staking: 30-day average ticket price is 95.6 DCR (+3.0) as of Sep 3. During the month, ticket price fluctuated between a low of 92.2 and high of 100.5 DCR. Locked DCR represented between 3.8 and 3.9 million or 46.3-46.9% of the supply.
Nodes: there are 217 public listening and 281 normal nodes per dcred.eu. Version distribution: 2% at v1.4.0(pre) (dev builds), 5% on v1.3.0 (RC1), 62% on v1.2.0 (-5%), 22% on v1.1.2 (-2%), 6% on v1.1.0 (-1%). Almost 69% of nodes are v.1.2.0 and higher and support client filters. Data snapshot of Aug 31.

ASICs

Obelisk posted 3 email updates in August. DCR1 units are reportedly shipping with 1 TH/s hashrate and will be upgraded with firmware to 1.5 TH/s. Batch 1 customers will receive compensation for missed shipment dates, but only after Batch 5 ships. Batch 2-5 customers will be receiving the updated slim design.
Innosilicon announced the new D9+ DecredMaster: 2.8 TH/s at 1,230 W priced $1,499. Specified shipping date was Aug 10-15.
FFMiner DS19 claims 3.1 TH/s for Blake256R14 at 680 W and simultaneously 1.55 TH/s for Blake2B at 410 W, the price is $1,299. Shipping Aug 20-25.
Another newly noticed miner offer is this unit that does 46 TH/s at 2,150 W at the price of $4,720. It is shipping Nov 2018 and the stats look very close to Pangolin Whatsminer DCR (which has now a page on asicminervalue).

Integrations

www.d1pool.com joined the list of stakepools for a total of 16.
Australian CoinTree added DCR trading. The platform supports fiat, there are some limitations during the upgrade to a new system but also no fees in the "Early access mode". On a related note, CoinTree is working on a feature to pay household bills with cryptocurrencies it supports.
Three new OTC desks were added to exchanges page at decred.org.
Two mobile wallets integrated Decred:
Reminder: do your best to understand the security and privacy model before using any wallet software. Points to consider: who controls the seed, does the wallet talk to the nodes directly or via middlemen, is it open source or not?

Adoption

Merchants:

Marketing

Targeted advertising report for August was posted by @timhebel. Facebook appeal is pending, some Google and Twitter campaigns were paused and some updated. Read more here.
Contribution to the @decredproject Twitter account has evolved over the past few months. A #twitter_ops channel is being used on Matrix to collaboratively draft and execute project account tweets (including retweets). Anyone with an interest in contributing to the Twitter account can ask for an invitation to the channel and can start contributing content and ideas there for evaluation by the Twitter group. As a result, no minority or unilateral veto over tweets is possible. (from GitHub)

Events

Attended:
For those willing to help with the events:
BAB: Hey all, we are gearing up for conference season. I have a list of places we hope to attend but need to know who besides @joshuam and @Haon are willing to do public speaking, willing to work booths, or help out at them? You will need to be well versed on not just what is Decred, but the history of Decred etc... DM me if you are interested. (#event_planning)
The Decred project is looking for ambassadors. If you are looking for a fun cryptocurrency to get involved in send me a DM or come talk to me on Decred slack. (@marco_peereboom, longer version here)

Media

Decred Assembly episode 21 is available. @jy-p and lead dcrwallet developer @jrick discussed SPV from Satoshi's whitepaper, how it can be improved upon and what's coming in Decred.
Decred Assembly episodes 1-21 are available in audio only format here.
New instructional articles on stakey.club: Decrediton setup, Deleting the wallet, Installing Go, Installing dcrd, dcrd as a Linux service. Available in both English and Portuguese.
Decred scored #32 in the August issue of Chinese CCID ratings. The evaluation model was explained in this interview.
Satis Group rated Decred highly in their cryptoasset valuation research report (PDF). This was featured by several large media outlets, but some did not link to or omitted Decred entirely, citing low market cap.
Featured articles:
Articles:
Videos:

Community Discussions

Community stats:
Comm systems news:
After another debate about chat systems more people began testing and using Matrix, leading to some gardening on that platform:
Highlights:
Reddit: substantive discussion about Decred cons; ecosystem fund; a thread about voter engagement, Politeia UX and trolling; idea of a social media system for Decred by @michae2xl; how profitable is the Obelisk DCR1.
Chats: cross-chain trading via LN; plans for contractor management system, lower-level decision making and contractor privacy vs transparency for stakeholders; measuring dev activity; what if the network stalls, multiple implementations of Decred for more resilience, long term vision behind those extensive tests and accurate comments in the codebase; ideas for process for policy documents, hosting them in Pi and approving with ticket voting; about SPV wallet disk size, how compact filters work; odds of a wallet fetching a wrong block in SPV; new module system in Go; security of allowing Android app backups; why PoW algo change proposal must be specified in great detail; thoughts about NIPoPoWs and SPV; prerequisites for shipping SPV by default (continued); Decred vs Dash treasury and marketing expenses, spending other people's money; why Decred should not invade a country, DAO and nation states, entangling with nation state is poor resource allocation; how winning tickets are determined and attack vectors; Politeia proposal moderation, contractor clearance, the scale of proposals and decision delegation, initial Politeia vote to approve Politeia itself; chat systems, Matrix/Slack/Discord/RocketChat/Keybase (continued); overview of Korean exchanges; no breaking changes in vgo; why project fund burn rate must keep low; asymptotic behavior of Decred and other ccs, tail emission; count of full nodes and incentives to run them; Politeia proposal translations and multilingual environment.
An unusual event was the chat about double negatives and other oddities in languages in #trading.

Markets

DCR started the month at USD 56 / BTC 0.0073 and had a two week decline. On Aug 14 the whole market took a huge drop and briefly went below USD 200 billion. Bitcoin went below USD 6,000 and top 100 cryptos lost 5-30%. The lowest point coincided with Bitcoin dominance peak at 54.5%. On that day Decred dived -17% and reached the bottom of USD 32 / BTC 0.00537. Since then it went sideways in the USD 35-45 / BTC 0.0054-0.0064 range. Around Aug 24, Huobi showed DCR trading volume above USD 5M and this coincided with a minor recovery.
@ImacallyouJawdy posted some creative analysis based on ticket data.

Relevant External

StopAndDecrypt published an extensive article "ASIC Resistance is Nothing but a Blockchain Buzzword" that is much in line with Decred's stance on ASICs.
The ongoing debates about the possible Sia fork yet again demonstrate the importance of a robust dispute resolution mechanism. Also, we are lucky to have the treasury.
Mark B Lundeberg, who found a vulnerability in atomicswap earlier, published a concept of more private peer-to-peer atomic swaps. (missed in July issue)
Medium took a cautious stance on cryptocurrencies and triggered at least one project to migrate to Ghost (that same project previously migrated away from Slack).
Regulation: Vietnam bans mining equipment imports, China halts crypto events and tightens control of crypto chat groups.
Reddit was hacked by intercepting 2FA codes sent via SMS. The announcement explains the impact. Yet another data breach suggests to think twice before sharing any data with any company and shift to more secure authentication systems.
Intel and x86 dumpsterfire keeps burning brighter. Seek more secure hardware and operating systems for your coins.
Finally, unrelated to Decred but good for a laugh: yetanotherico.com.

About This Issue

This is the 5th issue of Decred Journal. It is mirrored on GitHub, Medium and Reddit. Past issues are available here.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
Feedback is appreciated: please comment on Reddit, GitHub or #writers_room on Matrix or Slack.
Contributions are welcome too. Some areas are collecting content, pre-release review or translations to other languages. Check out @Richard-Red's guide how to contribute to Decred using GitHub without writing code.
Credits (Slack names, alphabetical order): bee, Haon, jazzah, Richard-Red and thedecreddigest.
submitted by jet_user to decred [link] [comments]

Of Wolves and Weasels - Day 157 - DOGE4DOGE - Week Two: Building Upward

Hey all! GoodShibe here!
Yesterday we took a look at some of the things you wished you could do with Dogecoin, some of the ideas that you had -- and I have to say that, wow, I'm quite impressed. The list you created is a great sneak-peek at some fantastic ways forward for our DOGEs.
So, now not only have we managed to build the foundations of a Bootstrap Service Economy -- Where Shibes can hire Shibes for Dogecoin -- but now we've also put together a fantastic 'wishlist' for prospective, enterprising Shibes and businesses to tackle.
Even better, now we can begin the fun part of pairing up our wishlists with businesses that might already do something similar.
As an added bonus, more Dogecoin businesses get some free promotion.
And for the businesses who do something similar, but not quite there, maybe this is an opportunity to expand one's business toward where the demand is ;D)
So, if you know of any businesses that fulfill the needs put forward on the wishlists below -- or would like to add things to this wishlist -- please let me know in the comments!
Things we wish we could buy with Dogecoins
Buy Stickers and more: Copper's Doge Shop
Things we wish we could do with Dogecoins
Goals/Projects to undertake
All in all, we're starting to really gather some steam here in Week 2! Let's keep the momentum going!
It's 8:29AM EST and we're at 82.46% of DOGEs found. Our Global Hashrate is spiking from ~52 to ~62 Gigahashes per second and our Difficulty is also spiking from ~870 to ~1075.
As always, I appreciate your support!
GoodShibe
If you have work you need done, please consider hiring a Shibe first from our BOOTSTRAP SERVICE ECONOMY
If you have skills to sell for Dogecoin or would like to hire a skill that's not on the above list - let me know in the comments and I'll add your request here.
If you want to build a team or have a project you want to move forward, let me know in the comments.
If you have an artist you want to shout out or work you think needs more attention, or sale on the way or a business on the rise... let me know in the comments.
Together, we rise, my friends!
Services on Offer
Help Wanted
Projects Starting
Projects Ongoing
Sales and Specials at Dogecoin Businesses
submitted by GoodShibe to dogecoin [link] [comments]

Weekly Blockchain Finance News

AB Int’l acquired iCrowdU, Blank check Megalith files for USD 150m IPO, Boldface header, Deepbrain airdrops USD 3m, GSR upsizes tZero investment to USD 400m, Petroteq arranges debt for equity swap, World Bank mandates CBA for first blockchain bond, CoinBase poached Amazon’s Tim Wagner and Q2 VC investment report
The Blockchain finance newsletter gets readers up to date on the latest funding news and related issues.
• Mergers and acquisitions
AB International, the Hong Kong, China-based tech focused investment firm, said it acquired blockchain-backed crowdfunding startup iCrowdU. The company raised its stake to a controlling 51% from the original 11%. AB International filed its most recent 10-Q late in the US after sacking senior executives in May.
• Filings
Megalith Financial Acquisition, the New York City-based blank-check company seeking to buy financial technology companies, said it is raising USD 150m from the initial public offering of 15m shares at USD 10.00 each. The company identified blockchain as one area of management expertise.
• Funding
Libra, the New York City-based cryptoasset services company, said it raised USD 15m in a Series B led by an unidentified family office in Europe. The company provides back-office services.
Audius, the San Francisco, California-based blockchain company focused on the music industry, said it raised USD 5.5m in a Series A led by General Catalyst and Lightspeed. The company sees itself as a rival to SoundCloud.
Lambda, the Singapore-based blockchain data storage company, said it is raising up to USD 5m in a token crowdsale.
tribeOS, the Hamilton, Bermuda-based blockchain company focused on advertising, said Bitmain invested USD 3m. Bitmain, the Beijing, China-based cryptocurrency mining equipment maker, is likely to soon file for an initial public offering, according to a Fortune report last week. The company raised USD 400m in a pre-IPO financing led by Sequoia Capital, according to a China Money report in June citing local media.
Deepbrain Chain, the Singapore-based blockchain company focused on AI research, is airdropping USD 3m, according to a Bitsonline report.
Sagewise, the Long Beach, California-based blockchain contractual dispute services firm, said it raised USD 1.25m in a seed round led by Wavemaker Genesis.
True Nature, the Atlanta, Georgia-based developing healthcare related software applications, said it filed a shelf for a USD 6m equity financing with GHS Investments. The products the company develops may carry blockchain encryption.
Overstock.com, the Salt Lake City, Utah-based online retailer, said its blockchain subsidiary tZERO raised the amount of financing it was receiving from Hong Kong-based GSR Capital to USD 404m. Overstock said in June tZERO was raising USD 160m.
Vemanti, the Newport Beach, California-based investment holding company, said it invested an unspecified amount in Chopp, the grocery delivery company operating in Vietnam. Blockchain, AI and machine learning are sectors Vemanti says it focuses on.
Petroteq Energy, the Sherman Oaks California-based company developing blockchain technology for use in the oil and gas industry, said it arranged two debt for equity swaps worth about USD 400,000.
Late last month, the company said it was raising USD 1.8m from the sale of shares and warrants, and applied to uplist to the Nasdaq. Earlier in July Petroteq said it was raising USD 202,000 from 11 investors.
The World Bank, the Washington DC-based multilateral lender, said it mandated Commonwealth Bank of Australia to arrange what it says is the world’s first blockchain-based bond.
Initial coin offerings going more towards accredited investors, according to a Bloomberg report.
Other deals included Universal Protocol Platform, Genetic Technologies, and OMAAT
• Legal & Regulatory
South Korea’s recently established Blockchain Enterprise Promotion Association is pushing the government to establish the island of Jeju as a cryptocurrency hub, according to a Cryptovest report. Crypto Currency News’ take is here. The Indian government and Tech Mahindra plan to develop a blockchain district in the city of Hyderabad, according to an Asia Times report.
• People
Coinbase, the San Francisco, California-based cryptocurrency trading platform, said it hired Amazon’s Tim Wagner as vice-president of engineering unit. Last week it hired Jeff Horowitz as chief compliance officer. Horowitz was head of compliance at Pershing, a unit of custody, clearing and settlement firm BNY Mellon.
Also this week, Facebook’s head of blockchain David Marcus resigned from the Coinbase board of directors as the social media giant deepens its engagement with the distributed ledger space, according to a Business Insider report. Coindesk’s take on the story is here.
KeyoCoin, the Los Angeles, California-based blockchain company focused on the travel industry, brought Shrei Kaiserman in as a bitcoin advisor as it moves closer to the launch a travel rewards token, according to a BlockTribune report. Kaiserman started an investment and advisory firm, Maco.la, that has focused on the blockchain industry.
SharesPost, the San Francisco, California-based trading platform, said it hired Nick Grabowsk as chief technology officer. Grabowski joins from Charles Schwab, where he was a vice-president of application architecture and R&D. He will work on integrating cryptocurrency and blockchain securities into the SharesPost platform, which started as a secondary trading venue for private technology firms.
SharePost raised USD 15 million in a Series C in June led by LUN Partners and Kenetic Capital.
Sidley Austin, the New York City-based law firm, said it hired Lilya Tessler to head its blockchain and fintech in the securities & derivatives enforcement and regulatory group. She was previously co-head of the blockchain and fintech group at McDermott, Will & Emery.
AlphaPoint, the New York City-based blockchain services firm, said it hired Srikant Manda as chief information security officer. He previously led security architecture and engineering teams at Juniper Networks and Fortinet.
The hire marks the fourth executive AlphaPoint has brought in since May. Last week it appointed Fisher Cataliotti partner Katya Fisher to the board of directors. The law firm is focused on blockchain, cybersecurity, cryptocurrency and artificial intelligence.
AlphaPoint, which is developing corporate auditing software, hired Kristin Boggiano as chief legal officer in July. She was most recently senior regulatory counsel at Guggenheim Asset Management.
In June, the company hired former Nasdaq executive Michael Schmidt as chief human resources officer and raised USD 15m in a Series A from Galaxy Digital Ventures. Ether Capital, the Toronto, Canada-based blockchain investment firm, said it’s forming an advisory board with Ethan Buchman, chief technology officer and co-founder at Cosmos Network, and Panashe Mahachi, co-founder of L4 and Scanate. Other hires included Grant Thornton, CENTRI, Blockchain Power Trust, DigitalTown, Hut 8 Mining, Data443 Risk Mitigation,
• Data
Cryptofinance Conference data shows traditional VCs edging more deeply into blockchain investing, according to a The Next Web report.
Trading, financial services and infrastructure accounted for the most venture capital investment in blockchain companies, at roughly 17% each, in the second quarter of this year, according to a report from Outlier Ventures.
submitted by eyeonai to u/eyeonai [link] [comments]

A Firm Wants to Reopen One of Australia’s Dirtiest Coal Plants for Blockchain Mining: A penny stock firm proposes a “Blockchain Valley”—at one of Australia’s worst-performing coal power plants.

This is the best tl;dr I could make, original reduced by 80%. (I'm a bot)
Plans to create an Australian "Blockchain Valley" with cheap fossil energy have been met with a stony reception from blockchain insiders.
PV equipment, said a plan by Australian tech firm IOT Group to restart a coal-fired plant for blockchain company energy supplies is not sustainable.
Using green energy for blockchain business development was more sustainable and also made more economic sense, he said.
The two companies said they planned to restart Redbank Power Station, a 151-megawatt coal plant, with the aim of feeding some of the energy directly into power-hungry blockchain applications.
Until recently, mining for Bitcoin, the biggest blockchain application in the world, has centered on China precisely because its massive coal-fired generation capacity afforded low energy costs.
These developments could allow blockchain firms to be choosier about energy supplies when the Hunter Energy plant restart is complete, within roughly a year.
Summary Source | FAQ | Feedback | Top keywords: energy#1 Blockchain#2 Group#3 company#4 IOT#5
Post found in /realtech, /environment, /technology, /EcoInternet and /CryptoCurrency.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

Crypto Musings on Our First Birthday

Crypto Musings on Our First Birthday
as fast as I an type . . .
I have been studying cryptos seven days a week for almost a year. One of our members has been mining for 52 months. We are busy with development, but my primary interest is political theory and psychology. For me, the most interesting thing about it all is not the money, but the theory!
There are plenty of players who've been around longer; but with respect, most are not oriented to analysing cryptos as a phenomenon.
Here are some random observations:

It's still early early days. Time is fore-shortened amazingly. We are still laughing at ourselves because we thought in May 2013 that it was all over! The 52-months miner recalls when there were only 5 coins in existence.

Get comfortable with being wrong. Chaos theory explains how 'unstable' an 'equation' is in accordance with the number of uncertain variables in that equation. The Crypto Equation is full of uncertain variables. We have seen our best estimations laid in the dust by developments.

For example, I guessed that 'the Mazacoin thing' would happen. But we sure didn't guess that weeks later six coins in the top forty would be 'nationals'; and then that just weeks later they would already mostly be where Greece Coin is this morning.
You can have a stab at trends (like 'nationals'); but estimations of their careers is almost impossible. So, be 'overtly theoretical.' Think big as a company policy.
(For example, IndiaMikeZulu has an in-house physical alternative currency backed 50/50 by silver bullion and Litecoin.)
Almost every utterly loony idea that we have touched upon has turned up in some coin or other.

Develop alliances with people you truly trust. There is far far far far too much data in this game for any one person to hold their own. My business partner holds all our coin, and does all our trading and tech stuff. I do all the development work -- all day on the phone. Our miner mines what we ask him to, and sends us a bill.

Know who you are!!

The crypto world has far far more than the average of lying scuzbag bastards. And the generally weak social skills of Net people exacerbate this problem: high volumes of low-quality 'info' in threads that get left behind by people who have charged off to The Next Big Social Media Instrument.
The crypto-sphere is under the sway of irrationalists and scammers and whales and pump-n-dumpers; and if you are oriented to cryptos as being 'transactional' rather than speculative, you had best consider this problem at length.

Once upon a time, Bitcoin was God, holding well over 90% of total crypto market-cap. Then coins began to sprout like mushrooms. Late last year, I was fascinated to note that Bitcoin's share of total cap had dropped to 75%.

Now grab a calculator. Bitcoin-plus-Top-Four holds well over 90% of cap today. Crypto money has 'backed up against' the Bitcoin pole. Money will surge back into altcoins when Bitcoin surges again; but big picture? When a tadpole becomes a frog, the head gets bigger . . . and the tail drops off!
I recall a day last December when six coins debuted on coinmarketcap in one day. About then, I wrongly predicted that the end of the altcoin proliferation must be imminent. We had Tittiecoin and Potcoin and other such lightweights falling like rain.
Yes, I was horribly wrong -- or was I?

Ten months ago, there existed a 'level' on which new coins existed for sometimes months before they got a listing on Cryptsy, then on coinmarketcap.

That is, a coin was created; then its development began; it struggled for months to get a listing on a small exchange -- there were so few exchanges!! -- then WHAM!! -- debut on Cryptsy/coinmarketcap.
But the proliferation of exchanges has changed that. Many new coins sort of 'dribble' onto the scene, with a listing on two exchanges on Day One . . . but no volume or price. Or ethics. Or community. Or development-plan.
Shun these coins!! They embarass us all -- but do so civilly. Our historians will see us -- quite rightly -- as overwrought characters shouting rude words in size-400 fire-engine-red letters upon all too little provocation.
The earlier reality pressured coin-creators into making coins that would survive that period on that 'level'; but now coins of no quality at all can be launched because that constraint is no more. Scam coins were more likely to be run to ground in the earlier model -- although now people are much better able to recognise Dross Coin for what it is.

The whales remain The Biggest Problem. It may be that they are an aspect of the nature of it all -- but that's not the same as not working hard to constrain them. Don't forget that whales can wait for years, then reap immense profit.

Those with political backgrounds outside cryptos understand this phenomenon. It is the 'trusts' of the U.S. in the 1930's. It's the oligopolies of the present global banking-system.
Over time, I suspect that a movement will produce coins aimed at taming this problem (I have one theorised, ready to go today, in the closet.).
Think of it this way, if such a reality of 'insider trading' existed in the Real World, libertarians would be squealing like pigs about it.
In short, many cryptos are now 'de facto centralised.'

There is a need for more 'people-ness' in the crypto movement. We used to joke in the Regular Army about the Mythical Foo Foo Bird, which flies around in ever smaller circles until it disappears up its own arsehole. Speaking as an outsider to the Net -- 'on' it but not of it, so to speak -- I note how truly fantastically divorced from normal human society many of the denizens and development tactics are. XXX sites and drug-selling sites and computer-equipment sites are not the be all and end all of crypto use -- it's the foo-foo bird. It's time to take cryptos to the streets.

The citizens of the western world are nearing some sort of social implosion:

peak oil, peak soil, peak water, peak people; debt, militarism, 'social incoherence,' climate change (whether it's us or not) -- and did I mention debt?
The Internet isn't goin' away -- but think about whether it is a fact of social affluence? or serving more basic functions?
The libertarian crypto-coiners should be all over this. They stand to gain enormously by positioning cryptos to be central to a post-affluence Net environment.

One clear pattern:

once upon a time, Bitcoin hadn't been discovered. Then it had -- we bought our first Bitcoin for $125; but I spoke to a business person who sold a bunch of cows for 100 BTC @ $45. You can guess which day he cashed out!
The following is clear, and should serve to maintain the spirits of all right-hearted crypto-folk:
if you 'strip out' the 'knocks,' the price of cryptos has gone up. Simple as that!!
Indiamikezulu came onto the stage with wide eyes and a tiny budget and a commitment to the politics. For a while, it all just seemed chaotic (and we traded the chaos. It's amazing how many people don't count fiat currency in their arsenal. Always have some fiat currency ready to buy in when Shit Happens!!).
What sustained us was the steady proliferation of Stuff That You Could Buy with Cryptos. The list, on Our Day One (in Australia) was almost nothing. (and we recall when a third coin became tradeable in fiat!! Wow!!).
Think of (a) places where you can spend cryptos, and (b) more public knowledge of cryptos, and (c) more technology to move cryptos about -- like ATM machines -- as 'the base' of the crypto-phenomenon 'pyramid.' Think of the rise and fall in crypto market-cap (prices) as the 'height' of the pyramid.
Well, the long-term equation is:
governments will 'smack down' cryptos as hard as they dare to, and prices will rise and fall on that basis ('height of the pyramid'); but the primary indicator is the 'width of the base.'
Check today's coindesk.com articles. Bitcoin fuel pumps? La Maison du Bitcoin? Pryptos? Venture Capital flowing in? A year ago, that would have been simply unbelievable. 72 months ago, they'd have put you in a rubber room for sayin' it out loud!

Don't focus on cryptos as 'currencies.' Focus on them as 'currencies/technologies.' It's the technologies that will ultimately facilitate their mainstream acceptance (other than the 'dark' aspects . . . ).

Indiamikezulu -- me -- loves terms. We see Bitcoin as 'Gen-1.' We shouted out 'GEN-2!!' the day we discovered Nxt (and bought 410K). Ripple and Mastercoin (whether they succeed or not . . . ) are Gen-3
But we see Crypto 2.0 as the future.

The other half of this is the irationalism of My Coin. Those who choose to 'stand back from it all' can see this plainly.

In a strictly logical model, everyone would segue from old coins to new coins, and simply dump the old ones -- as we do with cars, music systems, tv's, planes, toasters, and washing machines. But humans get attached to stuff, so there will be a weird interplay between sticking with My Coin, and moving to Better Coin.

This brings us to 'coin disposition.' We work very consciously on the 'Suite-of-Coins Principle.' No one coin is going to 'win.' So, have a cool-headed policy whereby you 'dispose' your holdings in a number of currrencies.

For example, Doge is a great coin. I love Dogecoiners -- but I wouldn't want my superannuation invested in it.
Tiny-cap coins fascinate me (for the libertarian aspects); but you wouldn't use one in a commercial-development project simply because they lack the volume you need to jump from cryptos to fiat.
Coins like Ether might hardly exist at present, but we feel strongly that we can't afford not to hold some.
We took a knock on some of these 'post-Gen-1' coins that we felt that we had to hold; but we came out ahead. Our insight is:
if you break even on 6 out of 10, and lose a packet on 1 out of 10, the last 3 will leave you way way ahead.
So, do think about being a 'crypto-coiner' rather an 'X-coin person.' Change is the only constant.
Finally: Be the Bourse!!
Speaking as a political theorist, I find it strange/entirely predictable that the crypto thing went so fast from the doggedly peer-to-peer nature it had when a pizza cost 10 000 Bitcoin to the centralised model we have now.
Imagine you were in China -- or India or Russia (or Lebanon or Iceland or or or . . . ). By developing a 'diffused' model,' you would have cryptos in use exactly as cryptos would be in use in the libertarian model: the slow-motion 'price discovery' of community exchanges tames volatility. Peer-to-peer trading strengthens community. It helps to shield cryptos from the state.

When you are explaining crypto security to newcomers, be careful to separate the nature of exchanges from the cryptographic security of the currencies in general. Automated exchanges are a luxury not a necessity. They are an instrument of speculation.

Recall that the collapse of Mt Gox had nothing to do with cryptographic currencies. It had to do with a 'superstructure' of shoddy exchange architecture.
(Who noticed that Australia's NAB bank cited Mt Gox as a reason for its position on cryptos -- but wait!! What does Mt. Gox have to do with people who trade fiat-to-crypto for businesses? or just as a hobby? or as development of the technology? Answer: nothing!!)
Thank you for time.
Mark
submitted by indiamikezulu to CryptoMarkets [link] [comments]

Crypto News Recap for the week ending August 3rd

Developments in Financial Services

Regulatory

General News

submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

Bitcoin Mining Primer

I have been helping a friend develop business strategies at a Bitcoin start-up over the last few months. In the course of this work, the topic of Bitcoin mining appears often to be fraught with misinformation and uncertainty, especially for individual miners who unfortunately may find it difficult to return an adequate profit in many cases. This informal guide covers some important issues prospective miners should consider to avoid headaches and financial loss. The information is derived from experience deploying a 400 TH/s system scheduled to come online in around December. Opinions are my own; I’m happy to entertain constructive feedback.
This year, the Bitcoin network will award miners nearly USD 500 million, at the current price of USD 375 per bitcoin, to participate in a process known as mining. Unsurprisingly, this has attracted significant interest not only from Bitcoin advocates, but from speculators and investors as well. Regardless of one’s motivations, the business of Bitcoin mining must ultimately be profitable, or at least operationally viable, if there is to be any chance of success.
HOME MINING
Acquiring and personally managing ASIC miners is probably the most fulfilling way to mine bitcoins. It provides the greatest level of transparency, but requires a certain level of technical proficiency to set up and run.
Advantages:
1) No hosting fees payable
2) Full control of operating parameters
3) Direct payment from mining pool
Disadvantages:
1) Purchasing the latest mining hardware is inherently risky because the ongoing development of energy-efficient ASIC chips requires expertise, time and millions of dollars. R&D is usually funded by customer prepayments with no guarantee of timeliness or success. It is not uncommon for miners to incur financial loss and opportunity costs when a supplier fails to deliver
2) The retail price of hardware is typically marked up anywhere from 25% to 500%, or more, depending on market conditions. This creates a barrier to profitability, making it harder for miners to recoup hardware costs if they are unable to negotiate for volume discounts
3) Shipping fees and import tariffs can cost hundreds of dollars per unit, especially if importing equipment from overseas. This adds to the cost of hardware and must be taken into account when calculating the return on investment
4) Shipping time varies greatly. Each day spent in transit incurs an opportunity cost
5) Miners need to set aside space, usually in the home, to locate mining equipment
6) Many mining units may generate excessive noise, and heat that requires around the clock ventilation to maintain an optimal operating temperature range
7) The average mining unit draws up to three amps of current. A system containing twenty units could easily exceed the power limit in a typical home
8) Electricity is by far the largest expense in any mining operation, making up around 90 percent of operating costs. If the price of residential power is materially higher than the rate paid by commercial operators, it makes home mining uncompetitive
CLOUD MINING
Buying into a cloud mining service is often marketed as a convenient and hassle-free way to get in on Bitcoin mining. As the mining assets are managed by an intermediary, getting a breakdown of operating costs prior to purchase often proves difficult. This makes it challenging for potential customers to make a fully informed buying decision. The unspoken truth is that some cloud miners incorporate obsolete equipment—cheap miners from previous generations or liquidated, unprofitable hardware—into their cloud to sell to unsuspecting customers. Older mining units can consume 80% more power than the current generation miners, leaving very little profit for the customer. In addition to the acquisition price, those in the market for cloud mining should consider the power consumption of the cloud on offer, including changes over time as new mining units are added to increase total capacity.
Advantages:
1) Start earning immediately. No waiting weeks or months for equipment delivery, installation and set up
2) Convenient and fully managed mining service means customer needs not be technically inclined or involved in day-to-day operations
3) Professional hosting service ensures optimal performance and low operating costs. Commercial hosts may be able to purchase electricity for a materially lower cost than residential customers
4) Acquisition price is often reasonable. Sometimes, possibly, too good to be true
5) Some platforms allow miners to sell their assets to other traders
Disadvantages:
1) Not all hashing power is comparable. For the same acquisition cost, more energy-efficient miners are better because they use less power and return higher profits. When buying hashing power from a cloud, the buyer should ensure he is not getting obsolete hardware. Often this is not possible to verify without a basic understanding of the costs involved, however subpar earnings is a good indication that further investigation is required
2) Hosting and cloud management fees are typically payable. Sometimes there is little transparency in pricing, resulting in unexpected cost to the customer
3) Miner has little input into how the cloud is managed
COSTS BREAKDOWN
The amount of money earned from Bitcoin mining over a short period of time, say one week, is fairly easy to calculate. Given mining is a zero-sum game where new entrants dilute existing participants and the mining reward is roughly shared on the basis of each miner’s contribution to the overall hash rate, we can derive profit by estimating the income and costs.
Mining Income:
Weekly mining bitcoins created = 25,200 = 25 bitcoins x 6 times per hour x 24 hours x 7 days
Assuming hash rate is at 300,000 TH/s, bitcoins earned weekly per one terahash of processing power = 0.084 bitcoins = (1 terahash/ 300,000 terahash) x 25,200 bitcoins
Table 1: Weekly earnings per one terahash of computing power
Hash rate (TH/s)....Bitcoins earned 270,000.... 0.0933 280,000.... 0.0900 290,000.... 0.0869 300,000.... 0.0840 310,000.... 0.0813 320,000.... 0.0788 330,000.... 0.0764 340,000.... 0.0741 350,000.... 0.0720 360,000.... 0.0700 370,000.... 0.0681 380,000.... 0.0663 390,000.... 0.0646 400,000.... 0.0630 
As new miners enter the market, an increase in hash rate dilutes the mining reward. This is the source of much uncertainty in mining because it is difficult to accurately forecast the rate of increase. Dilution reduces a miner’s income while the amount of work is the same.
Mining Costs:
Electricity typically comprises around 90 percent of total operating costs. The two determinants of electricity cost are price and the amount of electricity consumed.
If we take a hypothetical 700 GH/s system that is rated at 490 watts, we can normalise it:
0.7 kW per one terahash = (1 terahash / 0.7 terahash) x 0.49 kW
Electricity used per week is:
117.6 kWh = 0.7 kW x 24 hours x 7 days
If we know the cost of electricity, the dollar value of electricity consumed in one week can be estimated. For reference, power prices in Australia are between USD 14 cents (commercial rate) and 19 cents (residential rate). China averages around 8 cents, while other places can be cheaper. For example, in Georgia, USA the cost of commercial electricity is around 6.5 cents per kWh.
Table 2: Weekly electricity cost of running a one terahash system
 Cost at different power ratings (USD) Electricity price (USD/kWh).....1.1 kW...0.85 kW....0.7 kW 0.05.... 9.24.... 7.14.... 5.88 0.06.... 11.09.... 8.57.... 7.06 0.07.... 12.94.... 10.00.... 8.23 0.08.... 14.78.... 11.42.... 9.41 0.09.... 16.63.... 12.85.... 10.58 0.10.... 18.48.... 14.28.... 11.76 0.11.... 20.33.... 15.71.... 12.94 0.12.... 22.18.... 17.14.... 14.11 0.13.... 24.02.... 18.56.... 15.29 0.14.... 25.87.... 19.99.... 16.46 0.15.... 27.72.... 21.42.... 17.64 
Other costs to consider include mining pool fee (typically 1 percent of earnings), hosting fee (depends on host) and other expenses such as air conditioning if hosting at home, maintenance, etc.
Profit:
Using the assumptions that hash rate is at 300,000 TH/s and bitcoin price is USD 375, we can work out the profit. Moreover, knowing the basic cost of Bitcoin mining can help prospective miners avoid offers that are too good to be true. To simplify, we ignore other running costs:
Profit = (bitcoin price x bitcoins earned) - electricity expense
Table 3: Estimated profit from running a one terahash system for one week
 Weekly profit in USD (300,000 TH/s hash rate) Electricity price (USD/kWh).....1.1 kW...0.85 kW....0.7 kW 0.05.... 22.26.... 24.36.... 25.62 0.06.... 20.41.... 22.93.... 24.44 0.07.... 18.56.... 21.50.... 23.27 0.08.... 16.72.... 20.08.... 22.09 0.09.... 14.87.... 18.65.... 20.92 0.10.... 13.02.... 17.22.... 19.74 0.11.... 11.17.... 15.79.... 18.56 0.12.... 9.32.... 14.36.... 17.39 0.13.... 7.48.... 12.94.... 16.21 0.14.... 5.63.... 11.51.... 15.04 0.15.... 3.78.... 10.08.... 13.86 
These figures serve as a good benchmark for comparing your personal performance. Where the electricity price is known, the difference between the calculated and actual profits can be attributed to two things:
1) Energy efficiency of mining units can cause significant deviation, especially when the cost of electricity is high. This is usually the case if obsolete equipment is being used
2) Hosting fee, mining pool fee and other costs also contribute to the difference
Return on Investment:
The rate of return is a measure of how much miners make for a given investment size.
Implied annualised return = (52 weeks x profit per week) / (hardware cost + shipping fees + tariffs + installation and setup costs)
The current price of ASIC miners runs at around USD 500 per terahash, excluding international delivery and insurance that can cost between five to 20 dollars per kg ($50 to $200 per unit). As a general rule, higher operating profit and lower capital costs are preferred. Investors endeavour to break even quickly on the initial hardware investment and make a profit on top of that.
The problem with this model is that it implies the hash rate remains unchanged for the entire year. In reality, the hash rate is likely to increase depending on a variety of factors. Therefore, the annual profit forecast is sensitive to changes in the hash rate as well as bitcoin price. This is a complex and interesting topic that deserves its own post. Please, keep in mind that actual mining results will very likely be less than what is indicated by this simple calculation. Under some scenarios, even informed miners can experience financial loss.
OPERATING RISKS
1) Liquidity risk: Bitcoin trading is rather shallow. As such, miners may experience high trading frictions when selling bitcoins to obtain cash. A bid-ask spread of up to 10% is not uncommon in some cases. Furthermore, most mining businesses rely on the liquidation of mined bitcoins to cover operating expenses such as electricity and hosting. The combination of these two factors may result in unexpected trading costs to the miner if there is insufficient demand from bitcoin buyers.
2) Price risk: Bitcoin is highly speculative and this is reflected in its price volatility. There is no guarantee that it won’t be worthless by next year. Therefore, the miner should keep in mind that the market price is just as important as the amount of bitcoins he holds. Bitcoin price is influenced by multiple factors outside of the scope of this discussion.
3) Competition risk: Bitcoin mining is a zero-sum game. While the size of the reward is fixed, new entrants are permitted to enter at anytime reducing all miners’ share of the reward. When bitcoin price is high, more new competitors are attracted to mining, further eroding all participants’ income.
4) As a function of the Bitcoin protocol, the mining reward will be halved between May and June of 2016. When this happens, all miners will experience an immediate decline of 50 percent in income with many operators becoming unviable. This effectively gives new entrants less than 1.5 years to break even and turn a profit. The short window of opportunity is troublesome because it makes mining significantly less profitable as the deadline draws near.
submitted by Robbie2333 to Bitcoin [link] [comments]

State of the Redd-Nation :: Apr 04, 2016

Reddcoin Weekly Development Update

Welcome again Reddheads to another weekly update of Reddcoin Development.
This last weeks efforts have continued to focus on the requirements for the ReddID and services. Additionally, there has been a renewed interest overall with Reddcoin, which has seen some old wallets coming back online. This has required a bit of effort to help some users getting their wallets operating again.
Still there are some activities to complete on the v2 wallet before I am happy to create a more general release, with language translations forming the bulk of the work to do. Suffice to say, I am somewhat pedantic to make sure everything is covered, especially since our audience covers many different nationalities.
Some discussions have also been raised on how to create further incentive to promote and support the network. And do we have a plan for such activities?

New Wallet - RC1d development update

The work this last week has focused on network resilience and language files.
Some of the extreme testing done on testnet has been putting nodes off-line for extended periods so that they fall behind by greater than 24hrs, and then establishing the network again. Testing was passed.
Language translation is a focal point of mine for the release of the new wallet. And having an interface that can be read in your native language is a better user experience than relying on falling back to English. We live in a global village so the UI (user interface) should be accessible to all.
After reviewing past work, I think we can leverage some of the translation work done in BTC core to transfer into Reddcoin, and this will make the translation process more of a review for 22 language files which are 100% complete. Thanks @thijs for the discussion on this
I will be putting some focus this week in getting the updated resources pushed to the transifex site

Translations

One of the activities that needs to be done is to review the current translations for Reddcoin V2.0. We follow the same procedure as Bitcoin, using a service by Traniflex to manage and maintain the translation files. As mentioned, I will be working on updating some of the resource files this week to help expedite the process.
We have already had a good start on the following languages
I would also like to get some focus on the following languages, which for some will be a review of work already done:
Of course your welcome to contribute to any other of the languages as well. We currently have 60 languages on file, and you can add to this if needed (Klingon anyone??)
PM me if you are interested (we have already had some starters)

ReddID Updates

I have been keeping generally pretty quite on the progress of ReddID as I want to focus on getting the core wallet completed. That said, there is still some good progress occurring and the basic functionality is now available including backend services, an API to integrate with (3rd Party services) and integrating with wallet services. There is still a ways to go, but I am excited by the progress being made.

Getting involved

Community awareness is still increasing at a steady rate, and statistically we are back at the levels seen in early 2015. The number of active nodes, google search trends and Reddcoin marketcap have all been increasing from October 2015. The big difference is the trend is in a positive direction.
Some of my goals this year are to increase traffic to each of our forum areas (including Reddit, ReddCoinTalk
2 weeks ago we experienced a small blip on the exchanges, and this was followed again by another blip this week where nearly 900BTC was traded on Poloniex during the 24hrs on Apr 2.
I am looking forward to an exciting year in 2016.
If you would like to get involved and dont know where to start, reach out and we will see where you can jump in

Rewards + Full-Nodes + Network Support

I am going to borrow the title from the posting on Reddit since it was raised there this week by @appleluckyapple (appleluckyapple)
When PoSV was introduced to the community in August 2014, it was done with a built in reward rate of approximately 5% per annum return on staking. It is considered a modest inflation rate in which to reward users who continue to keep their wallets online and staking.
The questions raised was if there is consideration for any of the following
  1. Boosting the reward for staking
  2. Introducing staking requirements for boosted rewards (similar to masternodes)
  3. Incentivizing network support
This could form the basis of a very long thread, but it is worth discussing so you know where the teams headspace is at. These very questions are often on our minds when we consider the on going health of the network
At the current exchange rate of 9-10sat with 100MM coins staking you would earn approx 5MM RDD which at todays rates would be $USD210 (assuming no change in the exchange rate)
So it would cost an initial $USD4172 to purchase 100MM RDD, with a return of $USD210. Interest is compounded
In Australia a return from the banks at this rate would be considered very generous (typically rates are 1.5% - 3%). In Russia, you can get up to 10% And in UK, you could expect to get 1.4%
It is my opinion, that 5% is a healthy middle ground, that provides some reward to operators of staking nodes. As indicated, you do need to be staking a reasonable amount to get any significant return.

But, is it enough??

If you consider for a moment, running a full Bitcoin node, you could expect to earn 0 BTC for your outlay. Which I think is one of the failings of the Bitcoin eco-system. There should also be an incentive for operators to support their full node requirements. Bitcoin miners receive the proceeds of mining a block, AND the transaction fees.
With Reddcoin, we have combined the functions. Node operators can be both 'miners' and full node operators. We don't need expensive mining equipment, with a home PC or even RaspberryPI being sufficient to handle the task of being a full node and staking. Additionally, when staking, if you stake a block that contains transaction fees, you also receive those fees.

How could this be increased??

One of the goals of the ReddID implementation is to provide a method to fund additional payments into the network.
Since the ReddID system was first announced Social-X architecture by Laudney, I have been thinking on a deeper enhanced solution to improve the support of the network.
In regards to this discussion, I would like to single out the items regarding ReddID registration fees. This list differs somewhat from the original proposal.
The overall goal is to create a dynamic crypto ecosystem to enhance the PoSV system and provide a means to transfer value between users.

The future

Although I did not touch on any of the points presented in the Reddit OP. I would not dismiss any of the ideas as not being valid, each has merit in their own right.
I have not presented a roadmap yet for Reddcoin, but 2016 has a lot to offer. With the new wallet, ReddID and tipping platform we have some exciting features to launch this year.

In Closing

Every week that passes a little more gets achieved, between the efforts of the Core team and the contributing community members we are getting a lot done. Sometimes it is hard to see this if you are not seeing the output (new exes, source code, etc) but it all will arrive in good time. Going into this week, I hope to tick off a few more from of my activities list.
Where ever you are, enjoy your week ahead
Keep on staking!
x-posted on (https://www.reddcointalk.org/topic/815/state-of-the-redd-nation-apr-04-2016)
submitted by cryptognasher to reddCoin [link] [comments]

[Table] IamA guy who accidentally started a soy candle business while high. AMA! (Second time)

Verified? (This bot cannot verify AMAs just yet)
Date: 2013-12-21
Link to submission (Has self-text)
Questions Answers
Why soy? It was the first wax I stumbled upon when I started my candle making supply search. The more I learned about it, the more I liked it. It's made from soy beans, so it's renewable, and all the beans are grown in the Midwest. I grew up on a farm, so I know how important it is to support farmers. It's completely biodegradable and nontoxic. You can literally eat it. When I started researching paraffin wax, I was shocked. It's a byproduct of petroleum refinement, and contains carcinogens that cause cancer. It's not renewable, the process of getting it is quite damaging to the environment, and the wax burns faster than soy.
Hm, interesting stuff. Are most candles made of paraffin wax? Yes. I imagine the fact that it wont spoil like soy wax will is the reason it's used by large candle companies.
What is the half-life of a soy candle? One year.
I bought two candles from you in early October; Oakmass and Amber and Falling Leaves. By far the greatest candles I've ever had. They last long, smell insanely nice and actually scents up a room, and you're local-ish! When I order more, can I do a home pick up and burn one with you? Candle burning not required. You're too kind! I'm glad you liked them. Yeah, we can definitely burn up if you want to. Save a little cash on shipping, too.
I hope you don't wind up murdered. We can carry concealed weapons in Wisconsin.
Are you in Madison? Madison is kinda weird, but I love it. I'm just outside of Madison.
Do you ever smoke with the soy candles man? Who's he?
On a scale of 1 to Unicorns, how high were you? Banana.
So I could get a candle named CUNT_DESTROYER? Yes. If you tell me to name it that, I will. It's your money, yo!
Have you considered applying for Shark Tank? That would be an interesting episode. I would never get a deal on that show, nor would I want one. Giving up any ownership is not an option. This is all mine. I would, however, love the national publicity. That would help my growth tremendously.
Just have a really nice intro, of explaining your candles, and all of that stuff so people get interested. Then just bomb the interview, act like a dumbass so you get no offers, have a big billboard with your website and stuff behind you. There ya go. Alright. Somebody call Hollywood and get me on that show!
For someone who isn't a candle connoisseur, what is your favorite scent? recommendations? I have a lot of favorite scents. Oakmoss and Amber is earthy and sweet. Caribbean Teakwood is dark and leathery. Blueberry Cheesecake makes you want to eat the candle, itself... Those are just a few of my faves, but I really like most of the scents I offer.
But CAN you eat the candles? It is just soy right... Without scent oil and dye, you could eat the candle. Soy wax is actually a really good skin moisturizer. Mix a little extra virgin olive oil into pure soy wax, and say goodbye to dry skin. I should start offering that...
What candle best covers up the smell of pets? All of them are scented strongly, so they'll do a good job. Except for maybe a scent like Rain, or Ocean Mist... They are just a lighter scent. Strong, but light.
Anything special you do to prevent frosting? Frosting is a tricky one... I can't give away my secrets...I've spent months trying different environments to let the candles cure in...but I've eliminated it as well as I can. Most candles have none, but a few have a little patch or two of frosting. The appearance of frosting is a good indicator of your candle being made with 100% soy wax, though, so it ain't all bad.
For those of us who don't know, what is frosting and why would you want to prevent it? Frosting is when the wax crystallizes during the curing process. It does no harm to the candle, it's just not pleasing to the eye for some people.
So pretty much frosting is a little tiny ugly mark on the candle? It can be tiny marks, or cover the whole thing. Most of it depends on the curing process, but they are still sensitive to rapid temperature drops after the wax is set.
Would you consider making a subscription candle service? I burn candles all day every day it would be awesome not to need to lug them from the store every week. That's a cool idea. How would I go about doing that?
Let me know if you need help with the set-up :-) I use Wordpress for my site, and Woocommerce for my cart. Will those work? I will need help with the set-up.
I must of missed the first ama and the repost in trees. But i need the story on how you started a soy candle business while high. got any tips for a stoner who is trying to start his own company? whats your favorite scent you have? I was high, staring at a candle burn for a long time just thinking about stuff. Then I realized that I couldn't smell that fancy Glade candle at all. I wondered if I could make my own candles better than Glade. So I browsed candle making supplies online, ordered 10 pounds of wax, 2 dozen jars, and some lilac scent oil. Several minutes later, I completely forgot I had done all that. Didn't think about it again until boxes showed up at my door. I had the "oh yeah, that's right!" moment, and got to work. I made all the candles and gave them away to friends and family. They liked them so much, they started requesting scents and paying me money for them. Then, local stores started contacting me to let them sell my candles. A few news papers interviewed me about my business, as well. It just keeps growing. And all I wanted to do was see if I could make a candle better than a air freshening company. I can assure you I have succeeded in doing that.
My tip would be to find something you think you can do better than what's out there, and then do it.
My favorite scent right now is Winter Cabin.
Please tell me you told the news outlet's that you were high when you started your business. "I was lying on my couch, staring at a candle for what seemed like hours..."
That was the closest I've come.
Do you sell on amazon? No, but somebody recently gave me the idea to sell there. I look to expand my presence online quite a bit in the new year.
How do you get stores to sell your candles? Have you ever thought of outsourcing production to China? Some stores contacted me about selling my stuff. With others, I would just walk into a store with a couple candles and sell them on why they should carry my candles. I would never move production to China. I would like to become the largest candle company in the US, with everything made right here.
Was there a time where you weren't sure you could be successful because it was an idea you got while high? Not for that reason, but there have been times when I wondered how I would make people aware of my products. How would I become successful if nobody outside of southern Wisconsin has heard of me? I worried about stuff like that. Then, I did my first AMA, and the exposure from Reddit helped build a coast to coast customer base that to this day continues to grow.
You seem to have great ideas when stoned. Do you come up with your new products while high? I ask a lot of questions. I ask people what they want. I'll be adding a 16 ounce candle in a glass container, soon. Double wicked...just have to work out the right wick combination... People have been asking for a larger size, so I'll sell a larger size. It's your money, you know? If you want me to make something that I don't have, and I can get the stuff to make it, I'll do it.
Do you use hemp wicks, and if no, why not? I haven't tried them yet, but I'm always trying new wicks to find the perfect one, so I'm sure in the future I will eventually try them. Whether or not I end up using them is dependent on how they perform.
I'd love to try your candles if you found a way to use wooden wicks. I found a wood wicked candle about a year ago and burned it sparingly just so that I could enjoy it longer (the sound is just heavenly), but now I can't seem to find another. TL;DR: Maybe try wooden wicks? :D Wooden wicks are on the horizon! Stay tuned...
How do your wax melts compare to the name brand (Scentsy) melts? Definitely thinking about buying some tonight. The only way for you to find out, is to try them. But, mine honestly blow scentsy's away. My wax melts are 6 ounces, compared to scentsy's 3. The cubes are one ounce each, and I get at least 5 days of noticeably strong scent release while keeping the warmer going 24 hours a day. Then, you'll get a few more days of adequate scent release. If you try them and don't think they're better, send them back and I'll refund your money. I've offered that return guarantee since I started, and haven't had a single thing sent back to me. I'm pretty sure you'll like mine more.
Can your melts be used in a Scentsy warmer? Being from Wisconsin myself and a warmer user you have me very close to switching my business. You certainly can!
Did you get a business license? If so, what kind? No.
How much money have you made from these soy candles? Is your stock public? I'm a one man operation who has reached the point of outgrowing his kitchen, and moving into a larger work space. The money has been a nice boost to my income, but it's nothing I can survive on by itself. No, stock is not public...I hope it never is.
Does this mean you have a day job? What do you do other than make and sell candles? Yeah. I work for a place that makes reed switches and various sensors for all kinds of applications.
Where are you based out of? South central Wisconsin.
Is that near Eau Claire? I'm in Waterloo. Just outside of Madison.
I'll be going to Madison for school in January. I may have to stop by and get a gift for someone. Or, you know, candles are awesome too. If it was okay to stop by, would there be a potential sniffing of various scents available? Also you made Bacon specifically in time for the AMA, didn't you? I usually have candles ready to be shipped out that you could smell. I started offering bacon a couple months ago due to demand from my previous exposures on Reddit. Give 'em what they want...
I go to the UW! They don't let us burn candles in our dorm, though. :( I make wax melts, too. If you buy a warmer, you can use my melts!
Have you consulted with any other self made entrepreneurs on how to make your operation fully sustainable? What, if any tips have you gotten? All of them tell me to keep doing what I'm doing. I've been trending up since the beginning, so if I keep growing at the pace I have been, I'll be there in a few years. I'm in no hurry. I want to do things right and maintain a top-notch product.
Is this the plot of Our Idiot Brother? Did Paul Rudd steal your life to make a movie? Yes he did, but how can you be mad at Paul Rudd?
Would you ever make a peony scented candle? Peonies are my favorite flowers and I haven't found a peony candle ever and I really like your candles. Also, I think this is really cool what you're doing. I hope it all works out! I'm getting one for my best friend for Christmas. I can get that scent. Next time I order supplies, I'll pick some up. Thanks!
Whats your company name? Mack's Olfactory
I see you have scent melts! Are those also soy based? If so, do they last longer than non soy based ones? Am I just silly and all the wax is the same wax for your products? Everything I make uses 100% soy. I've never used paraffin ones, so I don't know, but everyone tells me mine are stronger and last longer than Scentsy's.
Well, just bought 4. Wondered if you had ever seen a coiled candle Link to www.thisiswhyimbroke.com. I've always thought they looked cool. What's the worst smelling candle you've made? Like you were going for pineapple, but ended up with vomit. Thank you for trying them! I've never seen a candle like that before, but it's cool as hell! All of the scents I use come pre-bottled, so I'm not mixing anything myself. But, I can't stand the Banana Bread and Coffee scents. I just don't like them.
Do you plan on ever mixing your own scents? No. I don't have time for that. And I can buy thousands of different ones premixed.
Where would I go to be able to purchase one of these amazing candles? I'm being a little lazy and can't figure out how to search for this. Link to my website
I love you so much. I shared your candles with my peoples on facebook. NINJA EDIT: They are also cheaper than I thought they would be! I'm so excited. I love you, too! Thank you for sharing my link. I hope you enjoy them!
How fast is your shipping time? Do you offer overnight or next day? I hadn't heard of your candles before, and I know some people who would over them for Christmas presents. I make them to order, and I use priority mail from the USPS. They'd never get to you before Christmas. Sorry.
Hey you might not know, but are they GMO soybeans? Just curious. "The short answer is no. Only a very small percentage of the total US production of soy wax is organic. About 98% of the soybean harvest has been either genetically modified (GMO) or non-GMO mixed in with GMO soybeans. All of the soy wax in the US is made by just four companies, and none of them currently process organic soy oil into candle wax at this time."
Wish your stuff was cheaper to ship to Canada. I remember we traded PM's last time you posted, but it just didn't make sense to pay that much for shipping. What are some scents you thought would turn out nicely, but ultimately failed? I wish it was cheaper, too! Dozens of Canadians have wanted to buy, but nobody wants to pay $25 shipping costs. If a certain scent doesn't turn out nice, I'll try it from a different manufacturer. None of the marijuana scents have turned out nice, though. They don't smell anything like the real thing.
Is $25 a flat rate? That wouldn't be too terrible overall, if it was a big order. I'm in Canada and I see at least 8 scents that I would have to have :P. The weight has to stay under 4 pounds. Go over that, and the price skyrockets.
Ah, yeah that makes more sense. Approximately how many 8 oz candles would that be? 3.
That's really cool man. Think you could easily make candles in a low-resource environment? I'm a Peace Corps Volunteer who's got no fridge and no reliable electricity or running water- think I could do it? If you can start a fire and melt wax to a specific temperature, yes.
Simpsons or Family Guy? Both. I've been watching the Simpsons since they were on the Tracy Ullman show, and I enjoy the ridiculousness of Family Guy.
You're locked in a room with the CEO of ikeas teenage son and you have to choose what to watch between the two for the whole next eight days... If that's the scenario, then I choose Simpsons because I could easily watch the Softball episode over and over again for 8 days.
Damn it, Mattingly! I thought I told you to trim those sideburns!
Alright I'll buy your candles. Pleasure doing business with you.
Who's your favorite cast member on Friends? Don't know. Never watched it.
I was hoping for the answer Chandler... Ha! Nice.
Piggy Wiggly exists that far north? Always thought that was a southern thing. They're all over Wisconsin.
I'm actually making soy candles tomorrow for Christmas presents- any tips? Also, I was thinking about adding candy canes because they're gonna be peppermint scented. Would that be okay?? Be gentle when stirring in the scent, and pay attention to temperature details. I wouldn't add candy canes to a candle...unless you love mayhem.
off, Macks Olfactory is very clever and made me giggle. But my question is, have you ever tried anything like this before(starting your own business) and if things were to take off do you think you can keep up with the demand? Thanks for the ama and best of luck. I will be ordering soon! I've never done anything like this before. My dad ran two businesses, farming and a dump truck contracting company, so I can fall back on him for advice and whatnot, but so far I've done everything on my own. Promoting on Reddit has sometimes overwhelmed me with orders, and it would take a couple months to fill orders, but I needed that to find out what I had to do to keep up with the demand. Upgrading my equipment and production capacity will resolve that. I'll be able to make dozens of candles an hour in the near future.
Do you have a Marijuana scent? I haven't found one that smells anything like the real thing. I wont offer it if it's garbage.
I'd love to get some of these mailed to australia, would that be possible?? Shipping to Australia is over $40, unfortunately.
Hey Mack. I just placed another order a couple days ago. Will it make it by Christmas? Probably not, unfortunately. I just finished up all the orders placed before December 15th. Nothing placed after that has shipped yet.
Does the bacon scented candle really smell like bacon? And if so, would you ship to the UK? It has a Bacos smell to it, but it's not that bad.
Whats cent would be the best to have sex to? Long story short, I had a 14 hour sex marathon with this woman I worked with that started as a joke, but ended up happening. I had strawberry candles burning the whole time. To me, that is the best scent to have sex to.
How profitable is this business? Better than minimum wage? Also have you tried making any candy scents? Specifically chocolate. It's profitable. I'd have to sell a lot to live off the income, which will become easy to do once I start selling a lot because buying a ton of wax and jars all at once will save me tens of thousands of dollars compared to what I'm paying now in smaller quantities.
I'll look for a chocolate scent for you.
How can I be more like you? I really don't know.
What's your opinion on higher-end, "designer" candles? For example, Comme Des Garcons and Cire Trudon. Do you think that your candles compare, in quality? How did you learn to make candles? Would you consider apprenticing, or something like that, at a company like Cire Trudon to increase your candle-making prowess? Rip off. Mine may not look as fancy, but I'll go head to head with anyone when it comes to how well the candle can scent a room. And you'd have to be crazy to spend almost $100 on a 9 ounce candle...
Do you take bitcoin? No, but I should probably start. I laughed at the notion a few months ago when they were about $110... Kicking myself for that one.
How did you come up with the money to get started? I have an idea and no clue where to go from here. It only cost me about $100 to get started.
My only question is this: Where the hell were you a month ago when I was trying to figure out what christmas gifts to buy?! Hopefully, we'll both be around for a long, long time. There will be more Christmas's. More birthday's. Mack's Olfactory will be right here.
Would it be possible to make a candle that smelt like a fireplace? Would be nice for the apt. dwellers. I can and will do that.
Leg hair shavings? Okay. EDIT: I suck at jokes. That sounds like a wonderful idea, but I'd rather use that money to buy Christmas gifts for my family during this season. I've spent too much on myself already! That's the first thing I thought of, too. I didn't understand how hair was going to help me match scents.
You've mentioned before you're able to get pretty much any scent for someone who wants it. What is this range limited by? Is there a catalogue of scents to choose from besides those on your site? The range is limited by Google's ability to find the scent for me.
Is the business how you make your living? Not yet. I still have to work a full time job, which makes making candles difficult, especially when you get 60 orders dumped on you all at once like what just happened to me... I'll hopefully get to that point in a few years.
Where do you get the scents from? Do you just add a couple of drops of "blueberry" and get blueberry candles? This sounds very nice, btw. I hope you can maintain the quality and the vibe... I buy all the scents pre-bottled and highly concentrated.
Super late to this, but I would like to get some of your wax melts. What warmeburnewhatever it is do you recommend, and how exactly do you use them/how long do they last? Do you run the warmer constantly, or in cycles? I recommend any that has a 20-25 watt bulb in it. To use them you simply break off a cube, like getting an ice cube out of the tray, and you toss them into the warmer. Mine will emit a strong scent for about 5 days running 24 hours a day, then you'll get adequate scent for another few days. You can run the warmer whenever you want. It doesn't have to be all the time.
What's the difference in wax melts and breaking off chunks of candle wax to melt? Also, how long do your wax melts last? The candle wax I use for containers is a softer wax than the blend I use for the wax melts. The container wax is like soap. The wax melt wax is firmer and more brittle. One of my wax melt cubes will emit strong scent for about 5 days, being on 24 hours a day. Then, they will emit adequate scent for a few more days after that.
I used to joke about manly saw dust scented products... any chance that could come in a candle? I'll look for sawdust scent oil. If I can find it, I'll sell it.
Hello! Checked out your website and was wondering what your wicks are made out of? I'd like to purchase some for a pregnant friend and I've read about avoiding wicks with lead, and to look for cotton? Thank you Lead wicks aren't around anymore. Just like lead paint and leaded gas is no more. My wicks are made of cotton.
After reading through this AMA I would like to buy some candles, live in Sweden. Will you ever start to ship internationally? If I can find cheap shipping, yes.
This is awesome. Do requests cost extra? I really love sunflowers. I can get sunflower scent oil. Next time I order supplies, I'll pick some up. There's no extra cost.
What do you use to add scent to candles? And do you make it yourself? I buy pre-bottled, highly concentrated scent oils.
Dude I have a candle business too!!! Lol. How many candles can you make per batch? Right now, 7. But last night I bought equipment to be able to make dozens at a time.
Soy wax also burns at a lower temperature, so if you spill it on your skin (or put it there on purpose -- whatever floats your boat) you are less likely to get burned. It also cleans up with soap and water unlike regular wax. Soy wax is awesome! Do you ever refill containers for people? People who buy them locally will return the jars for me to reuse.
Have you ever made a pot-scented candle? Several, but none of them have smelled like the real thing.
Did you make the first candle, or find somebody who would? I've made every single one I've ever made.
Do you have a dog named Willie Nelson? No. I have a cat named KitKat.
Question two: have you seen our idiot brother? Yes. Paul Rudd stole the story of my life and made a movie.
If you do custom scents can you do one that smells like a Douglas Fir? The vast majority of Christmas/Pine/Tree smells just all smell like bad air fresheners to me. Like that little pine tree people put in their cars. I'd absolutely love a candle that actually smells like a Christmas tree. I will search for that.
I'm late as hell to the party, but i was curious if your business as it stands now is profitable/sustainable? It's been profitable since day one. If it keeps growing the way it has over the past 2 years, I should be able to live off the income. Fingers crossed!
What's your gross revenue and net profit? I'll let you know once my taxes are done.
Not anymore... That's why Mark Cuban is my favorite billionaire. Dude is good at making money, but he understands that there needs to be a fairness to it, otherwise it becomes harder for the little guy to make it...just like he did.
You make me a candle that smells even remotely like Angel Whispers from Glade and I'll be a huge customer. As soon as I found that scent they discontinued it. I can get you that scent... Next time I order supplies, I'll buy some.
Call it "Pisces Dream" and you'll be my hero! Send me a pm when you get some made. You got it!
WOAH! What a great idea! You should definitly have a website or something that a customer can go online and easily pick out a nice scent they like and be able to have it named after them! [3]+ I make all the labeling myself, so if people ordered something but wanted the name changed to whatever, I can do that. Just put in the comments when ordering that you want the name changed.
I will snap order 5 of those bitches. Now, if you can make a cherry/peppermint blend, and call it "Serenity", you will receive 10 additional orders from me. I will be ordering that scent on Monday. I don't know how shipping will be with all the holidays coming, but check back in a week or two, and I will have "Pisces Dream" ready to go...along with several other new scents. I'll look for a cherry/peppermint blend, too.
You're a bad motherfucker. Gettin shit done. The candle industry isn't going to revolutionize itself...
Oh! Oh! Oh! Glade used to make a soy candle called "earthly awakening" that I was obsessed with. It was also discontinued. If you can make a replica of this you've just earned yourself another life long customer. I can't find a replica of that scent, but Amazon has a six pack of them available. There's only one left, so you better hurry! It's $56.
Depending on the laws of the state it may not be required, nor be applicable. Some areas, like my state (Colorado), have no such thing as a "business license"... Instead, there are forms and licenses with different names and purposes, which may be optional depending on the nature of the business. I've asked several business owners around town if I need any business licenses, and they say no. I might need a sellers permit, though.
If you could make a eucalyptus scented candle I'd be pretty keen on it. Straight eucalyptus?
You totally should do this AMA with a butcher and a baker... for science. Besties.
Last updated: 2013-12-26 01:16 UTC
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Is Bitcoin Cash Mining Profitable In 2018? - YouTube Inside a Bitcoin mine that earns $70K a day - YouTube Noob's Guide To Bitcoin Mining - Super Easy & Simple - YouTube Bitcoin Star Mining Review 2017 How to start Bitcoin mining for beginners (SUPER EASY ...

Bitcoin mining is the process by which new bitcoins are introduced into the market. But how does it work, and is it still possible to make money doing it? Bitcoin Mining Equipment. In addition to a Bitcoin mining ASIC, you’ll need some other Bitcoin mining equipment: Power Supply – Bitcoin rigs need special power supplies to funnel and use electricity efficiently. Cooling Fans – Bitcoin hardware can easily overheat and stop working. Buy a sufficient amount of cooling fans to keep your hardware working. Backup generators – You may want ... Read related post: Free Bitcoin Sites. Prices of contracts you can buy on Genesis Mining 2.5 TH/s (GOLD) You can start with this plan which will guarantee a lifetime bitcoin mining contract and it will cost you around $ 151, This plan will give a clue of how cloud mining works and the profit attached to it. 25 TH/s (PLATINUM) This plan will also offer you a lifetime Bitcoin Mining contract and ... What is Bitcoin Mining Summary. Bitcoin mining is the process of updating the ledger of Bitcoin transactions known as the blockchain.Mining is done by running extremely powerful computers called ASICs that race against other miners in an attempt to guess a specific number.. The first miner to guess the number gets to update the ledger of transactions and also receives a reward of newly minted ... 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.

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Is Bitcoin Cash Mining Profitable In 2018? - YouTube

This video will show you how to start bitcoin mining from home. It's very easy and "free" to do if you have a gaming PC. *****... Some Helpful Links: • Buy Parts for a Mining Rig: http://amzn.to/2jSSsCz • Download NiceHash Miner: https://www.nicehash.com/?p=nhmintro • Choose a Wallet: h... Get our free Bitcoin course here - https://chrisdunn.com/free-bitcoin-course This Bitcoin basics video series will explain Bitcoin for beginners. You'll lear... This video is unavailable. Watch Queue Queue. Watch Queue Queue Queue As bitcoin's value soared from less than $50 to more than $1,000 per coin through 2013, demand to purchase faster and more powerful mining equipment soon became a booming industry in itself.

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