A bubble is when the price of something is far higher than the fundamental value.

First of all, consider that we are talking about to the thing that is closest to a global scale free market that the world ever had. So the bubble concept will be biased towards it, since the market will regulate itself and the fundamental (or intrinsic) value of the asset won't be fix, as it will be linked to what the market think it should be priced.

Bitcoin gives you ownership of nothing (a stock gives you ownership of tangible assets)

It does gives you ownership of your share, again, the concept of digital asset is hard to be inserted directly into the current economic market.

Bitcoin pays no dividend
Bitcoin gives you no right to future payments (bonds give you the right to payments)
Bitcoin gives you no patents or trademarks

Indeed, it's only hold and trade.

Bitcoin gives you no legal rights

Again, it's a new concept, so there is no solid laws yet, but it's just a matter of time. Regardless, a crime is a crime so ordinary laws will still try to garantee your assets, as already happened.

Given these facts, you Bitcoin fans need to prove that the fundamental value is different from zero (or close to zero) - otherwise it is a by definition a bubble

Digital asset and free market. If you try to insert both directly inside our current economic ways you will have a big problem (and that's exactly what is happening). You will need to sit and wait to see if it's truly a hype-bubble or it hold true value.

Another thing is BTC can be valued at $1kk or $1, it won't change a lot, think about it deeply: it's overseas "currency", you can hold or sell so you can use it as a long term investment or day trade (not recommended due high fees and slow transactions, but altcoins will do) and you can buy daily stuff (each day more things are available).

Considering all of this, BTC can be considered at the same level as the current monetary system, but without government, it's like having a bunch of dollars stored in your bank, but in exchange of the regulation and relative safety you have the unregulated market with the value changing based on the free market will.

Are you using only one PSU? If not, you may want to check if the secondary PSU is actually running, as you need to jumper it so it will turn on the video cards (common rookie mistake) - turn on the psu that is not linked to the mobo first.

If you did tried to swap between them and the mobo are not recognizing more than 3 cards you may want to check if your PCI-e are all set to x1, as many mobos have its pci-e sharing energy, so if you don't set it to x1 it won't work.

Another think that you may want to check is if your mobo have the molex slot (4 pins) to allow an additional input of energy. Many mobos that allows more than 4 cards have it and it's required to be filled with the molex cable from the PSU.

Check the TOLUD configuration of your mobo, it's no joke when you are mining that you need to do some tweaks at BIOS so it can work, do all steps and if possible turn OFF all non necessary stuff.

Because if you don't and you fall from a scam related to the forked coins (BTG and BCH) you will lose not only your forked coins, but your BTC as well. Since they both share the same blockchain until some point, it means that the original private key is also shared. You are not obligated to do it in order to claim your coins, but for your safety DO IT.

I can point you to many cases of people losing all their BTCs because they failed to do this simple step.

I guess got it, so it would only work if I get lucky enough to have my second transaction going to a mempool that the first isn't yet, right?

Thanks!

Thank you for your answers. I guess this closes the case, sadly bitcoin network was made this way, as it would be a good way to prevent the theft as it could work as an second layer of security and a new market for security companies.

@jseverson
Thanks for your concern regarding keeping my btc safe, fortunatelly it's not the case, this question was raised long time ago when I had a transaction that took days to confirm because of low fees and I read first about purging, since it was long ago and knowledge back in time related to btc was harder to come I hadn't the answer, but it resurfaced as btc prices raises and the general concern for own security as well.

@DannyHamilton
For my statement related to "above the average": the average have quite low knowledge about the network itself, I can garantee that the majority that uses bitcoin today have no idea about what the blockchain is, less about how the transaction works, what is the confirmation, and so on. Therefore, I'm quite sure that I have it above the average, which doesn't mean that I know a lot. Yet, I appreciate your humbleness and will take it as a lesson.


___
Still on this subject, if you get to see that your coins were to be moved from your wallet and do a double spent directing all your btc to another wallet you own, but with a high fee in order to have it confirmed next block, for example, would it in practice prevent the theft as it would be confirmed first and the other transaction would be nullified as there would be no source btc for it to complete?

I'm thinking here about how we can have a safer environment for people that want to feel safer, as I'm pretty sure mistakes happen and sometimes even hardware wallets get in trouble. Right now (and probably ever), the safest way I can see is doing the transaction offline then broadcasting it, never ever touching your main wallet alive. But this is too much a hassle for the ordinary user.

Hello,

I have an above average knowledge about Bitcoin network, but I lack some advanced understanding as how transaction works. So I hope you can clear this that is in my mind for some time.

I know that it is possible to purge a transaction nullifying it, for example if you sent a transaction with a low fee it will remain unconfirmed for some time and it gives you the opportunity to purge it so it will be canceled and your balance will be fully restored in your wallet.

My doubt resides on it, considering that my previous statement is true (please correct it if it's not), is it possible to set a server with automated bots that will be checking the mempool/network for unauthorized transactions comming from your wallet and auto purge them to prevent it?

If what I said is not possible by any reason, please explain and if you have the knowledge, please try to answer this as well: is there any coin that allows it? I mean, it won't hurt the network as it's only for unconfirmed transactions.

Have you tested MPH pool?

Also, you need to check the miner you are using, some versions are better for specific algos than others.

I guess it will all depends on where you live. For example, here where I live GPUs were always overpriced, as expected because of high taxes, but while the price is rising outside my country, here the prices are more or less the same as it was a year ago, it means that the profit almost doubled compared to the past few months.

Mining have it's pros and cons, but IMO mostly of the pros comes to those that benefits from currency parity value: your country's currency x USD for example. If the rate is good the profit will usually surplus the cons, but if you live in a USD-based country or similar in price, the real income will occur only with high investments, I will put down a few numbers.

Imagine 3x 1080 Ti rig, right now it gives you $6/day per card average before electricity cost (at least I'm earning it), it gives you $18/day total and $540/mo total. With $540 you can pay some bills at an average place, yes, but you have to consider the electricity bill as well, so you will have in the end +- $430 to $450, with this you can pay some other stuff but usually not even rent plus house bills. If you convert it to BRL, then you have R$1530, enough to pay for all bills if you live on an average place. The same goes if you live in places like Venezuela, China, and so on.

Isn't it possible to create an option to allow us to add a specific miner if we want? I mean, the installed cc miner for instance is terrible for some algos...

The fact that it pays in BTC is a good reason. Right now BTC is the safer bet in a very high risk market.

If you mine to hold any other altcoin you will need more luck than doing this way with nicehash, as you can check by yourself, mostly of coins are droping in value when compared to BTC price (parameter that people tends to ignore). If you can have either BTC or ETH for example and choose the later, even if ETH rises 10% it's no indicator to a best profit, you need to check if ETH increased or droped value when compared to BTC, if it droped, even a bit, it means that BTC was a better option.

Since this is the case nowadays for the majority of grand coins, it means that BTC is not only a safer bet for being more widespread, but it's a safer bet for having a tendency to hold more value when compared to other coins.

I understand that you can have more profit if you "sniffdog" coins yourself, but not everybody can live it like this or have enough time to do so.

I guess I will have to check the cables as well. I really think the problem is the bridge between the PSUs, it's running perfectly for a few days, but if the energy fails or I try to remotely restart it, then the problem starts again until it gets stable.

I will try with a more powerful PSU for the main one (mobo + 2 gpus), because if the cable heats a lot, it may overcharge it just a little, enough to reduce it's efficiency to a level close or lower than the actual power output, reseting the system. Since the PSU is almost on its power output limit. It would explain the fact that the system gets stable after a few tries, as the components / cables will cool after some stand by period.

But I guess I had two problems, one was with the "generic add2psu" that failed and caused a collapse over the system, other is related to overcharge of the capacity of the main psu (under tests).

Thank you all for your contributions, feel free to enlighten me more if you have anything else to say!!

Ah, yeah I know it's bad enough to use 3 PSU in a row, but server PSU where I live is too costly as well as powerful PSUs, it goes for more than $400 a 1000W PSU.

PSU is from Thermaltake. I have one mobo that can run up to 5 cards, I guess I will try it, but I've changed the risers connection on the mobo, as it can have up to 12 gpus I was able to change them all without success.

One weird thing is that I wasn't able to make it work properly using the jumpers (even if it powered all cards), but with the adapter it gets stable sometimes at first try and sometimes after reseting a few times.

Since 2x gpus and its risers, mobo, 2x mobo molex are connected could it be that a failure while initializing other psus could overcharge the main psu, as it doesnt have too much spare power? Note that the rig resets as soon as the mining is about to start (miner software is on), so it's as soon as all cards are really powered up ready to mine (with all cards detected), could it be that a late power up causing this overcharge? - As I said, if I set a dummy miner to start, the rig 100% of times gets stable at first try, because the cards aren't really powered up. If it was the mobo, wouldn't it not occur like this?

I'm having a problem with my rig and will appreciate any help you can provide, I will try to be as clear as possible.

I have one rig with 6x 1080 Ti running SMOS as below.

3x 750w PSU linked together (2 gpus for each psu) - 80 plus bronze (yeah I know...)
1x Biostar 250 tb pro (12 slots)
1x 8gb RAM corsair vengeance
1x CPU G3930 7 gen
1x 32gb 3.0 Pendrive with SMOS
6x risers
6x EVGA 1080ti (same model)

Rig worked fine for more than a month and then it started to restart and sometimes turning only 3, 4 or 5 gpus. If I changed the mining program to a non mineable situation (pass the wrong parameters for the mining program) then it would start and "work as expected" - with error messages appearing informing that the parameters were wrong, but not reseting anymore.

With this in mind, I did a lot of checks such as changing the risers, exchanging places between psus and gpus, underclocking (heavily) / removing overclock. During all the tests, nothing changed, suggesting that the gpus were not faulty as if I turned only 2 to 4 gpus it worked like a charm.

To bridge between the psus I had 2x add2psu-similar piece (later I checked and it was a generic version, not the original one fml) and I saw that one was failing (or it looked like it was), so I removed both pieces and did a "direct link" with a jumper until the the variant cable similar to the lian li cable arrived, that was able to link the 3 psu altogether.

During the meantime I left 4 gpus mining without the reset problem and jumping the psu, I even exchanged the cables, gpus, risers and psus between them and it worked perfectly with 4 gpus regardless the psu they were linked, as long as only 2 random psus were on.

The cable arrived and I turned it all on, it worked! For the first time in a week the rig was mining with 6 gpus, and it lasted one day, until the problem returned, but different this time, it reseted for a few times (5~10) and became stable again, it happened 2 times in 2 days and all the times all 6 gpus were recognized by the system, different from before where 3 to 5 was normal and 6 almost never during the reset loop prior to the change of cables.

Right now I'm thinking in acquiring the original add2psu and test. I'm aware that chaining psus aren't the best idea, but I had the psus on hand and didn't wanted to buy new ones and I want to be sure that the problem is the psu chain before acquiring new parts.

Important informations:
- The resets occurred right after the beginning of the mining process and I tried different miners / algos.
- I guess I isolated many components of the system and the only "faulty" one was the "add2psu" adapter. What I wasn't able to isolate: pendrive, ram, gpu and the mobo.
- Resets happened once every 30 to 45 seconds more or less with "no screen session found" as system message.
- The mobo have the config as required by manufacturer / SMOS install guide.
- It worked perfectly during more than one month, I was even able to restart many times in a row during tests (manually or using the SMOS dashboard) and it worked without flaws.
- The mobo have 2 molex inputs for extra power that are connected to the psus and I have no further info if this can be a problem or not.

What advice / suggestion would you give to me?

*Sorry for the text wall!  

You got it right, it's all about people's decision. I only use low fee (satoshi/kb) for my transactions and turn what I want to spend into other safe coins, like ETH that have better fees. My purpose doing this is because I disagree with fees scaling with the price (in usd), for now, people don't mine for the fee, they mine for BTCs and fees they get are a plus, so I'm pretty sure that if the majority applied low fees (satoshi/kb), then it would become normal.

Check https://bitcoingold.org/ at wallets section:

https://mybtgwallet.com/
https://btgwallet.online/

or use Coinomi.

Just to clear up, it's under testnet right now, it means that it's just a simulation (https://bitcoingold.org/replay-protection-development/). As someone pointed, any BTC private address prior to the fork will work as BTG wallet, but you will need some conversion (https://bitcoingold.org/bitcoin-gold-daily-dev-update-28-10-2017/)

Thank you very much for your kindly explanation, I'll give it a try!

Well, if it can convert back in BTC in a feasible time, it's fine. You need +-167 BTC for $1mi at current price. It's all about perspective, market analysis and how much you have to invest.

EDIT: had to remove the calculation regarding BTC because it seems hashing algorithms are resistant to quantum mining (I guess I'll need to check it by myself).

Could you please answer a few questions regarding this OS?

- Does nvOC have a "graphic" online interface like SMOS?
- Is it possible to easy install new miners?
- Is there any "hidden" fee for using it?
- Does it have general "quality of life" features, like: restart with auto connect, auto restart miners, ...?
- Does it update (or auto update toggle) video cards / OS?
- Is it possible to enforce overclocking for GPU as soon as the system restarts (auto)?

Thanks!

I guess the high fees (in $ value) also helped, people stoped using BTC for microtransaction and placed it on a higher ground than other coins by having it as a way to measure between them, as consequence BTC is now more like "gold" than ever, as you want it as an appreciative good instead of currency.