There was hardware Whaleclub teamspeak where a 21 Engineer joined and chatted about reddit. Like, I get it's for developers and allows them to do stuff, but I'm unsure what that stuff is. You said it well. This is a scam. Trezor is buying a second PC just for the sake of using Bitcoin, bitcoin convenience. Submit computer NOT about price. If you have some arguments I would love to hear them.
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Then you'll have the BTC up front, and won't have to wait for it to trickle in, and won't get fucked if difficulty increases. It's not a tool for global adoption. If your unit of account is Bitcoin, as it should be, you won't come out ahead. If you can run a full node and interact with bitcoin-cli, great. As of now, Minimal trust often makes things more convenient by allowing human judgements to be taken out of the loop, thus allowing complete automation. The point is, that general purpose devices are too insecure to be used for Bitcoin, hence the need for hardware Bitcoin wallets, and now, for hardware Bitcoin computers.
Wouldn't every machine having mined their own satoshis give it an absolute identity on the network? You can construct a device which does exactly the same as the 21 inc. Hardware wallets Reddit provide computer added hardware of functionality, nice, but not crucial. Probably not beneficial at all to most people or myself, just like messing with things. It doesn't compute to me that they would release bitcoin so obviously useless.
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Within hours I had a local store up and running with a few picture files, where anyone else with a 21 computer can view and purchase with Bitcoin. I was also able to setup my computer to act as a proxy in which to accept Bitcoin for connections. There are so many things you can do with this, and with the integrated asic chip, it is constantly doing work for you in the background. I cannot wait to see what other uses developers come up with in the future. Raspberry Pi was a hit for many reasons, but arguably, the most important factor being the community behind it.
The tutorials, guides and feedback generated by its users really pushed it to the top of its industry. I was confused, because the link posted above doesn't have an invite request form I'm going out on a limb here but I'm guessing there's a small button you push with a paperclip on the bottom.
If it isn't that simple don't expect this to go mainstream. There are probably ten things bad for every one good thing that makes it online. Glad you took the time. Your examples sound cool It's like having a coffee percolator that produces 1ml of coffee an hour built directly into the new iMac. Sure, people love coffee and devs certainly require it, but there are just far cheaper, faster and more elegant ways to aquire it.
To be clear I'm not knocking you or the cool stuff you're doing with 21's hardware, I'm just trying to understand the in-device mining angle. Really the point of it that I can see it least is entirely development related. Since its always mining, I can always have a stream of Satoshis to work with testing different accounts, api, etc. For instance, in my store example, since I have multiple accounts one server for the store one client for a test I can have the chip slowly generating Satoshis to be able to test buying and selling to myself with, independent of my personal accounts.
I could obviously use my own money for this as well, but this way I don't have to bother sending money from my wallet every time I want to test something. It's definitely not meant to compete with an ant miner or anything like that, only to supplement development processes it seems.
Couldn't you make a new wallet to hold your testing satoshis, and just fill it with enough to last you indefinitely? Isn't a million satoshis like, what, four dollars? But you have to find someone to buy bitcoin from.
With the 21 computer all you need is electricity and an internet connection. Isn't this product intended for bitcoin developers who, you know, probably already own some bitcoin? Not if you're in, say, a developing country without a bitcoin exchange. Or you don't want to hand over your identification just for a few satoshis. Also, if you have an Internet connection and a regular computer, can't you just get free, relatively anonymous satoshis from a faucet?
But this is a demonstration of a device, as well as being an early version of a development environment. There is a lot of potential for something that can have bitcoins to use just by being plugged in. The device can then communicate not just "I am an instance of a program" it can add: Ok, this seems like an actual use case.
Buying this device can be justified if you specifically want to familiarize yourself with 21 Inc hardware in preparation for future 21 Inc hardware releases. Yes, but 21 Inc also has to get practice building and supporting these devices, and they had to start somewhere.
I would bet that in future versions the premium for the miner will come down. Sure, and if your goal as a consumer is to support 21 Inc, that's fine. I'm sure that's why many people bought the device. I'm more curious about why a purely self-interested consumer would buy this device. These things don't mine economically, right?
As in, are you getting more bitcoins out than the cost of the electricity? And as far as I understand, there are no small, consumer-sized devices that mine economically these days? So besides taking advantage of free electricity in Starbucks, a consumer who has this device in their home is unlikely to financially profit over time by selling their spare satoshis, right?
As I said, it's a legitimate use case if you're specifically interesting in familiarizing yourself with 21 Inc hardware. The 21 technology is definitely not just for developers. This devkit is, but these aren't the customers they'll be selling to with the massmarket device. Or you could get a job. Then set up Bitwage for a portion of your paycheck. Then run a cron job every minute that takes a bit of your wages and transfers it to a hot wallet you use for dev work or whatever else.
None of this requires their computer. This completely negates the whole point of plug and play which is a selling point of the device. By testing, you mean on chain transactions right? Are you sending them in the standard way with a fee to be picked up and mined by the first miner that includes them in a block? Or are they broadcasted with out a fee and included in the next block that 21 mines itself? If they're sent the standard way, thus far in your experience do you have an estimate of how long it takes to mine a standard tx fee?
You mean you can just use a plain pi with a bitcoin wallet on it? How can this be! You at leat need to put it in a special case to say it is a "Bitcoin Edition Pi", make sure you leave the bottom uncovered so if anyone puts it on a metal desk kaboom!
The mining chip is there because the end goal is to have the mining chip built into everything. So your TV mines a small about of bitcoin and than when you watch some streaming service the content created gets made directly with bitcoin. When you are at the airport waiting for your flight your phone can conect to wifi for a few satoshis that your phone generated. Your self driving car can have a real time a auction to bid on a parking space closest to where you wanna park. Yeah i hate to be the one to break this to you but there is this funny thing about energy, it isn't free.
Smartphones already have to do all sorts to keep there battery life decent underclocking when not in use etc , it isn't going to be mining soon. So what about Cisco how invested in 21? Well considering they are pushing green iniatives in their product line and each new generation uses LESS power then previous ones it is not an option there either.
Big corporations are doing everything possible to shave off electricity usage because a watt here and there adds up to some real savings. No one is going to put these things into a consumer device when they use extra power for no purpose other then because they can.
If you want to exchange value between IoT stuff there is much better ways to do it then bitcoin and its mining arms race. I doubt your phone will be mining while you're carrying it around. While you're charging it during the night? Or more likely your phone will request that your [insert device here] transfer it some bitcoin when it's running low. I don't understand this. If it's economical in this hypothetical 21 Inc world to mine on a cell phone chip sized device, why not just cut out the middle man and have a dedicated consumer-sized device plugged into the wall, mining bitcoin all the time?
Because you get idiots to pay through the nose for a crappy pi shield AND the electricity to run it for you. It doesn't need to mine. But I suspect that mining will be integrated into everything with a CPU.
Killing the battery for a few millionths of a cent not so much. Different people use their devices for different things. You keep mentioning battery life. And chips generating satoshis are going to be doing it while plugged in.
But by spreading the number of devices that are mining bitcoins, you strengthen Bitcoin itself and its valuation. So if said company is invested in Bitcoin to this extent, then the value increase of Bitcoin would outweigh the negative energy costs of running the device s , hence still making them more efficient. The more devices mining bitcoin the less useful any particular devices bitcoin mining chips become as the difficulty ramps up.
So the more you spread around the more power you waste in relation to reward. For example, you can use the 21 Bitcoin Computer to: A few years ago, cryptocurrency tipbots on Reddit were very popular. They were considered to be one of the easiest ways to distribute popular cryptocurrencies on a global scale.
Ever since that time, tipbots have been all but forgotten, even though there are a few projects which have remained active to this very day. Chain Tip is one of those Reddit tipbots which mainly focuses on Bitcoin Cash. Now is a good time to Mon, 22 Jan The progress made in the inspection revealed that the hack was accomplished using the Tippr bot. The hacker used the defenseless third-party email functionality that Reddit uses for point of access.
The malicious attack turned up as a reset from Reddit in the form Wed, 10 Jan Reddit has confirmed that one of its email providers, Mailgun, has been breached, resulting in the hacks of user profiles and their linked cryptocurrency accounts. Attackers infiltrated Reddit accounts using password reset emails sent via the third-party vendor. Several Redditors also reported that their Bitcoin Cash tip accounts had been emptied out. Despite the alarming details, Reddit urged the public to maintain perspective, noting that the attackers "did not have access Tue, 9 Jan Early theories assumed this to be a new low in the so-called Civil War between supporters of bitcoin core and BCH.
Another hack has affected people dealing with cryptocurrencies.