Mining Rig Mining is the term used to describe the process of extracting cryptocurrency tokens from a blockchain network. This involves having computers continuously run a hashing algorithm, which takes an arbitrarily large amount of information and condenses it to a string of letters and numbers of a fixed length. The hashing algorithm hashes metadata from the most recent block using something called a nonce: a binary number that produces a unique hash value. For each new block in the blockchain, the network sets a target hash value and all the miners on the network try to guess the nonce that will result in that value. See what it would look like with this mining simulator     Deeper Dive The first Bitcoin miner was Satoshi Nakamoto.  In 2009 he mined the first block, block 0, and earned 50 coins.   By 2011 it started to enter main stream conversations and by 2014 large online retailers started to accept it.  Today it is becoming the next step in online secure transactions. There are several different coins that can be mined.  We mostly talk about BitCoin as it was the first and most well known.  There are currently over 1500 coins to choose from.  Here is a list of to review them all.      

Getting Started This is where the future of your business starts.  Cutting edge income earning will give you the advantage over your competitors. The first thing you are going to want to do is give us a call and schedule a meeting at the site that you want to build the mine.  We’ll evaluate the locations power availability and determine what additional engineering or supplementation works with that site.  If you don’t have a location we can help with that too.We have taken the time to scout out a few potential mines in the Sacramento area. We also have a few commercial real estate agents that work with us looking for new locations. Contact us now or give us a call. 1-847-555-5555  

Mining Cryptocurrency When you buy a mining rig it is designed to do one thing and one thing only.  Its made to run hard, and run fast, an algorithm.  Each coin has its own mining software that is easy to install, but you might need someone familiar with computers to troubleshoot any networking issues.  The software is free and easy to install. Most contractors will build the mining rigs based on your power supply, cooling ability and the type of coin you want to mine. What do I need to do to get started? Deeper Dive Applications would be installed on a mining rig.  Powers supply and economy determine hash rate. Most are open source and free, though you might need a professional to install them.  Mining software is different than your basic wallet.   Here are some links to help you find the right programs to use to mine cryptocurrency. Main page: Mining softwareBFGMiner – Modular ASIC/FPGA/GPU miner in C Bitcoin Miner by GroupFabric – Free easy-to-use DirectX GPU miner on the Windows Store CGMiner – ASIC/FPGA/GPU miner in C MacMiner – A native Mac OS X Bitcoin miner based on cgminer, bfgminer, cpuminer and poclbm Asteroid – Mac-specific GUI based on cgminer MultiMiner – GUI based on cgminer/bfgminer for Windows, OS X and Linux, allows switching between currencies based on profitability

Lost in a mining pool The amount of calculations needed to earn a single Bitcoin are immense.  The best way to hedge your bets is to get to a mining pool.  These are organizations that allow you to share the workload for small fee and increase the likelihood of return.   There are several out there each one with its own advantages.  If you are going to make profit you will need to be in a mining pool.  Each crytpocurrency has its own variations  on how their mining is set up.What’s the next step?     Deeper Dive Mining pools have been around since the dawn of crytpomining, even before there were application specific rigs and business ventures based around the idea.  Challenges in mining pools arise around cheating the miners out of coin. Several different methods to pooled mining have been created. Pooled mining is a mining approach where multiple generating clients contribute to the generation of a block, and then split the block reward according the contributed processing power. Pooled mining effectively reduces the granularity of the block generation reward, spreading it out more smoothly over time. The slush approach Bitcoin Pooled Mining (BPM), sometimes referred to as “slush’s pool”, follows a score-based method. Older shares (from beginning of the round) have lower weight than more recent shares, which reduces the motivation to cheat by switching between pools within a round. The Pay-per-Share approach The Pay-per-Share (PPS) approach, first described by BitPenny, is to offer an instant flat payout for each share that is solved. The payout is offered from the pool’s existing balance and can therefore be withdrawn immediately, without waiting for a block to be solved or confirmed. The possibility of cheating the miners by the pool operator and by timing attacks is thus completely eliminated. This method results in the least possible variance for miners while transferring all risk to the pool operator. The resulting possibility of loss for the server is offset by setting a payout lower than the full expected value. The Full Pay-per-Share approach The Full Pay-per-Share (FPPS) approach, created by BTC.com team, aims to benefit miners from the high transaction fee. It will calculate a standard transaction fee within a certain period，add it into the block rewards (12.5 BTC every block for now) and then distribute the whole to miners according to PPS mode. This method keeps advantages of PPS and pay more to miners by sharing some of the transaction fees. Luke-Jr’s approach (“Eligius”) Luke came up with a third approach borrowing strengths from the earlier two. Like slush’s approach, miners submit proofs-of-work to earn shares. Like puddinpop’s approach, the pool pays out immediately via block generation. When distributing block rewards, it is divided equally among all shares since the last valid block. Unlike any preexisting pool approach, this means that the shares contributed toward stale blocks are recycled into the next block’s shares. In order to spare participating miners from transaction fees, rewards are only paid out if a miner has earned at least 0.67108864 BTC (400 TBC). If the amount owed is less, it will be added to the earnings of a later block (which may then total over the threshold amount). If a miner does not submit a share for over a week, the pool sends any balance remaining, regardless of its size. P2Pool approach P2Pool mining nodes work on a chain of shares similar to Bitcoin’s blockchain. When a block is found, the reward is divided among the most recent shares in this share-blockchain. Like the puddinpop and Luke-Jr approaches, p2pool pays via generation. Comparison The cooperative mining approach (slush and Luke-Jr) uses a lot less resources on the pool server, since rather than continuously checking metahashes, all that has to be checked is the validity of submitted shares. The number of shares sent can be adjusted by adjusting the artificial difficulty level. Further, the cooperative mining approach allows the clients to use existing miners without any modification, while the puddinpop approach requires the custom pool miner, which are as of now not as efficient on GPU mining as the existing GPU miners.Puddinpop miners receive coins directly.Additionally, the puddinpop and Luke-Jr approaches of distributing the earnings by way of including precise sub-cent amounts in the generation transaction for the participants, results in the presence of sub-cent bitcoin amounts in your wallet, which are liable to disappear (as unnecessary fees) later due to a bug in old (before 0.3.21) bitcoin nodes. (E.g., if you have a transaction with 0.052 in your wallet, and you later send .05 to someone, your .002 will disappear.). Puddinpop and Luke-Jr miners receive coins directly, which eliminates the delay in receiving earnings that is required on slush-based mining servers. However, using some eWallet services for generated coin will cause those coins to be lost.

cost of cyrptomining To make any reliable money or to make a mine profitable, you have a few elements in place.   Processors run hot and they use a lot of electricity.  They need space to operate in and that area must be cooled to keep them working well.  The first thing you need to build a cryptocurrency mine is space.   You will need to keep that space cool and it will need to have the ability to channel in a good amount of electricity.  The software is free and building the racks aren’t your biggest cost, its always power. How do you find a space? Its hard to know if a space can do everything you will need it to do.  If you already have a property you’re going to need to find an Electrical Engineer or contractor to look and see if it has sufficient power. Not every space is going to work.  If it doesn’t have the right power requirements, you’ll have install or supplement it. Power rate and power consumption are the next hurdles to cross.  Bitcoin mining or cryptocurrency mining in the Sacramento area is defined by SMUD’s current power rate.  California’s power rate is high compared to other states (average of $ 0.15 ) , but our alternative energy initiatives, tax credits, and local rebates can more than compensate.  Depending on the location of the mine, solar supplementation, or wind power, will dramatically change the prospecting costs. What is a Mining Pool?                  What kind of software do I need? Deeper Dive Local power rate is the center of the build.  Knowing the general rate will allow your contractor to choose the most efficient mining rig and supplemental power sources.   You can see what the local Sacramento electrical rate is at https://www.smud.org/en/Rate-Information/Business-Rates Local incentives will vary with your energy provider but you can check online to see if there are rebate or programs: SMUD Programs Database that has Tax incentive and Tax Credits    

The first thing that you must accept is that profits come from wise investments.  Building a bitcoin or crypto currency mine takes investment and is not a backyard gold mine. The simplest answer to what it is: It is a series of specialized processors that are trying to guess a very specific number called a Hash Rate.  There is heavy competition, but when you get it right, you earn coins to your account.  The more processors you have working at guessing the greater your chance to win. This is the very bare bones explanation, but the more often you can guess the greater your chance to win.  A mine is when you have several processors guessing.  A successful or profitable mine is when they can make more than their overhead. How much overhead does it take?

There is an excitement when anyone talks about the mystery of Bitcoin and cryptomining.  Its not easy to understand and harder to explain. Here you’ll find an easy to understand description for business owners to evaluate its value.  Each page will have simple explanations with a “Deeper Dive” for those who need more information.Profitable cryptocurrency mining, BitCoin mining,  farming, it has several names, isn’t something that can be done in the garage. The space you would need to make it work would quickly exceed a home or small workshop. Business and property owners can maximize their current situations to develop this new revenue. Yuriy Fox is a local Sacramento Commercial Electrician who wants to share his passions about Blockchain, cryptocurrency with everyone.  Enjoy this no nonesense eplanation. Whether your a business or just curious about the whole thing this will be an informative read.  Start by clicking one the the links below: What is Bitcoin mining?          What is the Cost of owning a mine?             What software do I need?

Blockchain and Bitcoin Blockchain is a new way of sharing information that is extremely resistant to hacking. It may be the future of information exchange, but currently, it is mostly associated with bitcoin and cryptocurrency.  Its similar to the way windows manages programs on your computer, but this manages blocks of data.  It is a very complex, very secure, ledger, that keeps track of all transactions and will not allow alterations.   Deeper Dive Bitcoin was created and Blockchain was pulled from its substructure. That is to say the chicken came before the egg in this case.  The effective secure structure of the original Bitcoin programming was so remarkable that it eventually became its own program. With the addition of the “Smart Contract” it sealed the future of commercial transactions and Blockchain. You read from the Harvard Business Review its “History of Blockchain”: https://hbr.org/2017/02/a-brief-history-of-blockchain    

Cryptocurrency exchange to dollar rate What is a Cryptocurrency? This is two words bashed together, the first is Crypto, from the word cryptography.  We use it in the word in encrypted. In the easiest terms, its a secret way of writing using math or patterns to keep a message safe. Currency is a system of money. Cryptocurrency uses some pretty heavy computer math to keep it secure and to generate new value.A Deeper Dive Cryptocurrency is a digital/virtual currency that uses decentralized control as opposition to electronic money and the central banking system. Every different cryptocurrency’s decentralized control works through a blockchain.  Blockchain is a new way of sharing information across a public database.   Bitcoin was the first decentralized cryptocurrency to enter the market in 2009. There are now over 1500 altcoins and growing such as Litecoin and Ethereum.   As cryptocurrencies increase in popularity, more miners join the network. This makes it harder for individuals to mine for cryptocurrencies. One solution that miners have come up with is to work together in mining pools. What does it cost to run a mine? Take an in-depth look into cryptocurrencies

Bitcoin mining rig Hash Rate – A Hash is the mathematical problem the miner’s computer needs to solve. The Hash Rate is the rate at which these problems are being solved. The more miners that join the Bitcoin network, the higher the network Hash Rate is. The Hash Rate can also refer to your miner’s performance. Today, Bitcoin miners come with different Hash Rates. Miners’ performance is measured in MH/s (Mega hash per second), GH/s (Giga hash per second), TH/s (Terra hash per second) and even PH/s (Peta hash per second).   Deeper Dive A hash algorithm turns an arbitrarily-large amount of data into a fixed-length hash. The same hash will always result from the same data, but modifying the data by even one bit will completely change the hash. Like all computer data, hashes are large numbers and are usually written as hexadecimal. Bitccoin uses the SHA-256 hash algorithm to generate verifiably “random” numbers in a way that requires a predictable amount of CPU effort. Generating a SHA-256 hash with a value less than the current target solves a block and wins you some coins. Each coin uses different software to achieve similar goals. This is the specific Algorithm used by Bitcoin: https://en.wikipedia.org/wiki/SHA-2    

What’s the safest bet in choosing an Electrical Engineering company in California First off don’t bet.  Electrical system is fundamental to the ongoing use of a property and it starts with a good plan.  Bad engineering can cause safety issue, fires, and reduce the versatility of your property.  You don’t want the goal to be simply pass code, but to be ready for the next 20 years of innovation and regulation. The right guy for the job a Building a good structure starts with choosing the right team.   It’s easy to go for the lowest bid but electrical design and planning is the last place to cut corners.  A good Engineering company focuses its design and planning to be both safe and functional.  They should be experienced in working with a wide variety of contractors to get projects done on schedule. Know your business You can’t plan out a single line unless you know what is allowed and where.  An engineer that that takes initiative on permits, with a knowledge of city regulations and ordinances is important. Don’t take chances, hire the best.      

LED Lighting In recent years, Light Emitting Diodes (LEDs) have taken the lighting industry by storm. Simply put, an LED is semiconductor chip that releases energy in the form of light. LEDs are used in all types of lighting, including home and office recessed ceiling lights, parking lot lighting, cabinet lighting, landscape lighting and more. LED lighting can be used to retrofit old incandescent or fluorescent lighting in the  form of bulbs, ballasts and replacement fixtures. LED has many advantages over traditional lighting, including:  LEDs last up to 35x longer than incandescent lights and almost 4x longer than fluorescents LEDs produce more light per watt than incandescents LEDs light up instantly and many are dimmable LEDs waste very little energy because most of the light can be directed where needed LEDs contain no hazardous mercury LEDs don’t shatter the way delicate traditional bulbs can LEDs are environmentally friendly  See this LED/CFL/Incandescent Comparison Chart for more details on the pros and cons of various types of lighting. For more information on how using LED lighting in new construction or as a retrofit can help save you money, contact Absolut Electric today.

Going Green in Sacramento. Progressive ways to change your business energy footprint.To be a Progressive property manager in Sacramento means you’re going green.  Hiring a local Sacramento electrician to update your property to current standards isn’t just good for PR safety, but it can save money.  A typical parking lot can reduce its energy costs by up to 70% with minimal investment. Old metal halide and High pressure sodium are expensive to maintain compared to LED fixtures.   We offer a comprehensive review of your property to re-engineer it for safety and savings. We use CAL Lighting fixtures who Reps over 120 manufacturers from the Oregon border to Bakersfield and western Nevada High Lumen per watt output –  up to160 lumen/watt 3000K, 4000K & 5000K – lifetime consistent luminosity Universal driver with 100-277VAC auto switching 0-10V dimming and 480VAC Multiple  mounting configurations High quality and reliable, Cooper Lighting, CREE, OSRAM Sylvania LEDs and Drivers. UL, ETL Listed and DLC Premium Listed – meets all the high performance standards 5 to 10 year warranty IP65 rated CALL NOW to find out if your business structure can be upgraded. Absolut Electric, Your Sacramento Parking Lot Light Specialists. (916) 572-0851

EV Chargers What You Need to Know About DC Fast Charging With the rapidly-growing battery sizes of electric vehicles, level 3 DC fast chargers are quickly becoming the standard for commercial charging applications. Here’s what you need to know about DC fast chargers so you can educate customers and installation partners:25kW stations will provide ~100 miles of range for every hour of charge. 50kW stations will provide about twice that. Prices range from $7,500 for a 25kw single connector charger to $35,000 for 50kW dual connector networked stations There are 3 plug types:CHAdeMO – Asian standard CCS – US & European standard Tesla – They just had to be different… but adapters are availableSingle and dual connector stations are available with CCS and/or CHAdeMO Dual stations only charge 1 car at a time Most full-electric EVs accept fast charging, but most plug-in hybrids do notCalifornia already has the most electric vehicle (EV) drivers in the country and the number of drivers is still increasing rapidly. Now, thanks to the new Sacramento Municipal Utility District (SMUD)Commercial Electric Charger Incentive Program, you can future-proof your property with EV charging and get back: • Up to $3,000 per Level 2 charging station • Up to $100K incentive per DC fast charging project This program is available for all workplaces and multi-unit residential communities serviced by SMUD. 

Why choose Absolut Absolut Electric is a Local Sacramento commercial electrician. We have 14 years of experience and we strive for ever increasing standards and efficiency.  Bad Electrical Engineering can cause extensive property damage and loss of life.  Having a contractor that knows what they are doing and goes above and beyond for safety is the best choice. We combine tried and true safety with innovated tools and techniques.   SMUD works with commercial electricians in Sacramento with special rebates and incentive programs. We cross reference these projects in our bids to create the best opportunities for our clients. Our goals are to create an ongoing relationship with our customers.  Honest, genuine, and helpful advice creates return business, but more importantly it saves money.  Scheduled maintenance is important for the longevity of your equipment.  Avoiding unexpected power outages that may cost a business valuable revenue and lost time from work. It is always cheaper to fix a problem when you know about it ahead of time. We are Sacramento’s best Commercial Electrical Contractor. We strive to provide continued long-term customer service as we work towards meeting our customer’s ongoing and evolving needs, call us at 916-572-0851 or click here to contact us.