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Good to be here. Read and observed the forum since I joined and must say I like how detailed the discussions here are compared to social media platforms. As a beginner I noticed some topics are mentioned a lot like wallets, security nd scams but I still feel there are always new perspectives. For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?
My first impression of Bitcoin's operation is that it breaks with the traditional model of currency being managed by centralized institutions like banks and governments. Instead, it allows numerous nodes in the network to collectively record and maintain all transactions, ensuring transparency and tamper-proofing. This demonstrates its rigorous nature and security. However, I've recently seen some talk about wallet thefts. Does this decrease security as the network scales?
Recently, i have been coming across more stories of person's that have forgotten their passwords or keys, and because of that, have lost their investments (btc and other coins) in the process.
Let us enlightenment ourselves, What could be some causes of this?
Could it be stress, elaborate passwords or something else (please state what you think is a cause).
From identifying the causes, i believe we will be able to get solutions.
As people age, their memory declines, and what they can remember is limited. However, they generally never forget a single, crucial secret password. This is especially true if you have multiple accounts, such as three bank cards with different passwords. Will you always remember them, or will they be vague? In today's world, the average person has at least four or five bank cards, so how many can they remember? However, it's much easier nowadays: if you forget your password, you can reset it, provided a scammer hasn't cracked it.Let us enlightenment ourselves, What could be some causes of this?
Could it be stress, elaborate passwords or something else (please state what you think is a cause).
From identifying the causes, i believe we will be able to get solutions.
Yesterday, I came across this video on YouTube—have you guys ever tried this water cooling plate for your T21 Antminers?
https://www.youtube.com/watch?v=umQ3_Lyt4wQ
https://www.youtube.com/watch?v=umQ3_Lyt4wQ
i know zeus is legit I should see what it costs.
Even with ventilation, the temperature will still rise if it is running continuously. This is similar to playing with your mobile phone in an air-conditioned room; the temperature will still increase after a long period of use.
Ventilation is needed to cool the ASICs with cold air from outside, which is why the temperature of the ASIC chips should remain virtually constant during operation.
The premise for proper ventilation is that the ambient temperature shouldn't be too high. If the temperature is too high, even without cooling accessories, it's useless.
No issue unless you got a faulty device.
Although I hate them noise, too noise for a home if you have more than one.
The amount of power they draw is very high too and as a solar energy miner I am trying to avoid Asic miners as possible.
I hope that in the near future we will see a lot of home miners that have higher TH power, maybe over 100TH and also more efficient to run.
If you are new to the miners you can face small issues like inconsistency and instability but trust me that's because you are new to mining, normally you need to place the miner in a well ventilated area for better cooling or you will face these issues.
Make sure the fan spins and also make sure the psu isn't overheating.
It seems so. Noise and heat dissipation problems should be the most troublesome. Then why don’t you install a blower muffler? It can solve the noise problem and dissipate heat effectively at the same time. You can go and find out.Although I hate them noise, too noise for a home if you have more than one.
The amount of power they draw is very high too and as a solar energy miner I am trying to avoid Asic miners as possible.
I hope that in the near future we will see a lot of home miners that have higher TH power, maybe over 100TH and also more efficient to run.
If you are new to the miners you can face small issues like inconsistency and instability but trust me that's because you are new to mining, normally you need to place the miner in a well ventilated area for better cooling or you will face these issues.
Make sure the fan spins and also make sure the psu isn't overheating.
nope.
it is more likely down clock a bit. they will not over heat as much and are quieter.
the pot fan setups do help but most of the gear runs way too hard. which makes it to hot and too loud.
Also the pot fan means you need to bypass oem fans.
So if the pot fans break there is a huge chance you over heat the gear.
If you go the pot fan route you should use an epic controller and set the overheat numbers very low 78 vs 85c
if the pot fans break the gear may be saved due to the lower heat setting.
here is a 1 board t21 so 1/3 the power and hash means it does about 55th
but I super under clocked it to 18 th .
no overheating no noise and it will last for years run this way
Yesterday, I came across this video on YouTube—have you guys ever tried this water cooling plate for your T21 Antminers?
https://www.youtube.com/watch?v=umQ3_Lyt4wQ
https://www.youtube.com/watch?v=umQ3_Lyt4wQ
Link is to video of my S9 rebooting and shutting down and i cannot solo mine now with this one until I get it fixed somehow or totally replace it as a whole right as I was looking at miners as well this one breaks
file:///C:/Users/Owner/Downloads/13bef193-733c-4148-9562-96e3b68e144c.mp4
-loshi BTC
It is recommended to replace the fan to give you peace of mind.file:///C:/Users/Owner/Downloads/13bef193-733c-4148-9562-96e3b68e144c.mp4
-loshi BTC
Re: What happens when there is no more Bitcoin available to buy?
You forgot that transaction fees are considered block rewards for miners and that miners need to spend to continue mining. Therefore, the only case in which there is "no more Bitcoin available" is when there are no transactions on the network, meaning the value of Bitcoin = zero.
bitcoins after were mined from Bitcoin blocks by Bitcoin miners will exist on Bitcoin blockchain and in wallets of Bitcoin holders. They can lose their bitcoins if they did not make wallet backups properly for wallet recoveries later. It's hard to lose all 21 million bitcoins in the future, and I don't believe it will happen.It's only whether the Bitcoin blockchain continues to operate and new Bitcoin blocks will be mined so that Bitcoin holders can move their bitcoin to other wallets or other people in Bitcoin transactions on Bitcoin blockchain. I don't predict the future but I think Bitcoin blockchain will exist for a long time as my belief is blockchain technology changed the world, it will stay so will Bitcoin blockchain.
Re: What happens when there is no more Bitcoin available to buy?
I don't think it's possible that one day there will not be Bitcoin available to buy, unless Bitcoin is no longer in existence, which I don't think is likely to happen in the near future, given the rate at which Bitcoin adoption is increasing day by day. So, there is no way that people will stop selling because there will always be points where each investor will reach a point to take their profits. As long as there is a seller, there will always be a buyer. So, the point is that as long as Bitcoin still exists, people will not stop buying and selling.
What if Bitcoin reaches a certain saturation point?
If you can afford it, why not?
If your Bitcoin miner requires 100 watt to run just set up a 250 watt solar panel and a 200ah 12v battery, you will be able to mine on a sunny day and still be able to mine when the sun is down till the next morning. It will take 15hrs of using 100watt from a 12v 200ah battery when draining 75% of the bank, which is required for long term safety of the battery, I've done this and it worked perfectly, there won't be a down time unless there is no sun in the next day.
So if you plan to run a BTC miner that need 1000watt you need to wired 2500 watt solar panel, the extra is just for running your machine and also topping the battery bank while on usage, but as the wattage increases you will have to spend more money on battery banks, and that's where mining on battery comes with pain. Some people prefers mining with sun only, once the sun is down they will shut down their machines.
Solar mining requires consideration of factors such as weather, location, and the high costs associated with solar panels, energy storage systems (such as lithium batteries), inverters, and other equipment. Therefore, solar mining is not suitable for most miners. Is that correct? Unless you are very wealthy or have a good environment.If your Bitcoin miner requires 100 watt to run just set up a 250 watt solar panel and a 200ah 12v battery, you will be able to mine on a sunny day and still be able to mine when the sun is down till the next morning. It will take 15hrs of using 100watt from a 12v 200ah battery when draining 75% of the bank, which is required for long term safety of the battery, I've done this and it worked perfectly, there won't be a down time unless there is no sun in the next day.
So if you plan to run a BTC miner that need 1000watt you need to wired 2500 watt solar panel, the extra is just for running your machine and also topping the battery bank while on usage, but as the wattage increases you will have to spend more money on battery banks, and that's where mining on battery comes with pain. Some people prefers mining with sun only, once the sun is down they will shut down their machines.
Recommended low-power models 
With low power consumption, there is little chance of getting a good profit. Mining has long been an industrial production. I agree that if you live in a very sunny country, then this is a good alternative, and you should make calculations, how profitable it is and how long the payback will be.
Re: What happens when there is no more Bitcoin available to buy?
With so many people around the world buying Bitcoin, it’s like a city’s power supply system suddenly collapsing. I can’t imagine it. What do you think?
If there is no buying and selling in the market, there is never a high and the value of this thing is not understood. It will never happen that there is not a single Bitcoin in the market to sell. Gradually, the investment in Bitcoin will increase a lot, more people will be attracted to Bitcoin and invest in Bitcoin and for this, the price of Bitcoin will only increase and it will be very expensive. Now those who are holding 0.1 Bitcoin will sell them due to high profits and will keep holding 0.01 Bitcoin and this will continue for the future. And the more expensive the price of Bitcoin becomes, the more the amount of Bitcoin available to people will decrease.The price is getting higher and higher, people don’t have the money to buy it, and definitely can’t afford it.
What's the most common issue you encounter when using Antminer？
One of the most common failures of ASICs is overheating of chips and their failure. Usually, the further the chip is from the front fan for blowing, the higher the temperature. And ASIC power supplies do not like voltage drops in the power grid.
On the working equipment you will not have negative temperatures with air cooling. If the chip is dead, it will no longer heat up.
What's the most common issue you encounter when using Antminer？
heat and noise on the s21 and s19 models
they pull 3300 watts and are loud.
those two things will be certain enough.
next is break down of gear.
break down of gear is at least 10% per year.
if you have a lot of them there is almost always one or two that suck.
Re: What happens when there is no more Bitcoin available to buy?
Since the supply is limited, it is natural that the demand for Bitcoin will increase. Those who have the opportunity to buy the amount of Bitcoin today will have limited opportunities in the future because the demand for Bitcoin will increase much more over time. Even if some people have the ability to buy a Bitcoin today, it may not be possible in the future. Since it is estimated that after the next 3-4 cycles, the value of each Bitcoin is likely to be 1 million or more. If those who can buy one Bitcoin at the moment delay, then it will be possible to buy not a Bitcoin but small fractions. There will always be buying and selling of Bitcoin, but bitcoin demand always increases. The more demand there is, the smaller fractions will be used to buy Bitcoin.
Wow! Will it break a million? Do you think it will eventually reach a billion?Re: What happens when there is no more Bitcoin available to buy?
With so many people around the world buying Bitcoin, it’s like a city’s power supply system suddenly collapsing. I can’t imagine it. What do you think?
Basically, everything that is still useful in this world, even expensive items still has a high possibility of being traded, namely buying and selling. Therefore, we can conclude that there is no reason as you stated, because we know that Bitcoin is still needed and required by people for various purposes, including there will always be people selling and buying Bitcoin, so it will always be available to buy. So, the question is, is there a reason Bitcoin is not available to buy? Are there other useful items not available to buy? My answer is no, but perhaps someone has an answer to this.Re: What happens when there is no more Bitcoin available to buy?
How is this possible when all the Bitcoins in the world are held by someone? That is, if the richest people in the world buy and hold all the Bitcoins and no one sells any Bitcoin, then it might be possible. Moreover, even if all Bitcoins are mined, the amount of Bitcoins still held by people will cause one class of holders to sell Bitcoins and another class of holders to buy Bitcoins, and thus the system will continue in a continuous cycle. Once Bitcoin buying and selling stops, Bitcoin will have no value, meaning trading volume will definitely remain.
This means that without buying and selling, there will be no transactions, and Bitcoin will become increasingly scarce, right?Re: What happens when there is no more Bitcoin available to buy?
What happens when there is no more Bitcoin available to buy?
If that happens, then the demand for Bitcoin will increase because there are no more Bitcoins available to buy, then this situation will create scarcity, just like antiques, the rarer and harder to get the item, the higher the price will be. Bitcoin transactions can still be carried out as usual even though there are no more Bitcoins available to buy, Bitcoin owners can still make transactions or trade them between individuals.When that time comes, the Bitcoin network will likely remain stable because there are no significant changes to the Bitcoin protocol that could affect the network's stability, besides that time is still very long and I don't need to worry because when that time comes, those of us discussing here may no longer exist in this world.
But you're right. Why think so far ahead? Our lives may not be that long.
Re: What happens when there is no more Bitcoin available to buy?
With so many people around the world buying Bitcoin, it’s like a city’s power supply system suddenly collapsing. I can’t imagine it. What do you think?
First thing to correct is that there will never come a time when there will be no Bitcoin to buy. Bitcoin is an asset with the highest liquidity in the market so there will always be buyers and sellers. What can only happen is that the demand will outweigh the supply and this will lead to exponential rise in price. Won’t the shortage of supply cause market chaos?