Syscoin Platform’s Great Reddit Scaling Bake-off Proposal
https://preview.redd.it/rqt2dldyg8e51.jpg?width=1044&format=pjpg&auto=webp&s=777ae9d4fbbb54c3540682b72700fc4ba3de0a44 We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution! Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality. Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining. This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.
Syscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
Distribution, burns and user-to-user transfers of Reddit Points are entirely carried out on the Syscoin network. This full-on approach to utilizing the Syscoin network provides the most scalability and transaction cost benefits of these scenarios. The tradeoff here is distribution and subscription handling likely migrating away from smart contracts into the application layer.
The Reddit Community Points ecosystem can continue to use existing smart contracts as they are used today on the Ethereum mainchain. Users migrate a portion of their tokens to Syscoin, the scaling network, to gain much lower fees, scalability, and a proven base layer, without sacrificing sovereign ownership. They would use Syscoin for user-to-user transfers. Tips redeemable in ten seconds or less, a high-throughput relay network, and onchain settlement at a block target of 60 seconds.
Integration between Matic Network and Syscoin Platform - similar to Syscoin’s current integration with Ethereum - will provide Reddit Community Points with EVM scalability (including the Memberships ERC777 operator) on the Matic side, and performant simple value transfers, robust decentralized security, and sovereign store-of-value on the Syscoin side. It’s “the best of both worlds”. The trade-off is more complex interoperability.
Syscoin + Matic Integration
Matic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both. Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.
Total cost for these 100k transactions: $0.63 USD See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing: ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37) Syscoin price: $0.11 Snapshot of live fee comparison chart Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions. Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.
Tools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.
The Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms. The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.
Ethereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.
Zero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).
Unique fee-market that is more efficient for microtransaction redemption and settlement
Uses decentralized means to enable tokens with value transfer scalability that is comparable or exceeds that of credit card networks
Provides high throughput and secure fulfillment even if blocks are full
Probabilistic and interactive
99.9999% security assurance within 10 seconds
Can serve payment channels as a resilience fallback that is faster and lower-cost than falling-back directly to a blockchain
Each Z-DAG transaction also settles onchain through Syscoin Core at 60-second block target using SHA-256 Proof of Work consensus
Z-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.
Syscoin 3.0 White Paper (4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
16MB block bandwidth per minute assuming segwit witness carrying transactions, and transactions ~200 bytes on average
SHA256 merge mined with Bitcoin
UTXO asset layer, with base Syscoin layer sharing identical security policies as Bitcoin Core
Z-DAG on asset layer, bridge to Ethereum on asset layer
On-chain scaling with prospect of enabling enterprise grade reliable trustless payment processing with on/offchain hybrid solution
Focus only on Simple Value Transfers. MVP of blockchain consensus footprint is balances and ownership of them. Everything else can reduce data availability in exchange for scale (Ethereum 2.0 model). We leave that to other designs, we focus on transfers.
Future integrations of MAST/Taproot to get more complex value transfers without trading off trustlessness or decentralization.
Zero-knowledge Proofs are a cryptographic new frontier. We are dabbling here to generalize the concept of bridging and also verify the state of a chain efficiently. We also apply it in our Digital Identity projects at Blockchain Foundry (a publicly traded company which develops Syscoin softwares for clients). We are also looking to integrate privacy preserving payment channels for off-chain payments through zkSNARK hub & spoke design which does not suffer from the HTLC attack vectors evident on LN. Much of the issues plaguing Lightning Network can be resolved using a zkSNARK design whilst also providing the ability to do a multi-asset payment channel system. Currently we found a showstopper attack (American Call Option) on LN if we were to use multiple-assets. This would not exist in a system such as this.
Web3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask. Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2. Current supported wallets Syscoin Spark Desktop Syscoin-Qt
Mistyped the title... This is going to be a simple guide to help any R1 owner upgrade and optimize their Alpha.
(In order of importance) Storage Unit: HDD OUT SSD IN This is by far the easiest upgrade to make and the most effective. https://www.newegg.com/p/pl?N=100011693%20600038463 Any of those will work, just needs to be 2.5 Inch SATA. How to Replace Video WIFI Card: This is like a 5-15$ upgrade. Go find any Intel 7265ngw off eBay and replace it with your current WIFI card. If you don’t want to buy used then here. How to Replace Video RAM: Ram prices have tanked because of bitcoin mining, so this has become quite a cheap upgrade as well. I’d recommend 16GB just because why not, but if your tight on cash 8GB is fine. https://www.newegg.com/p/pl?N=100007609%20601190332%20601342186%20600000401&Order=BESTMATCH How to Replace Video CPU: This required the most research. I’d recommend you look through this first. The wattage of the processor slot only ranges from 35w-50w according to a developer of the Alpha (Source). The socket type is LGA 1150. If you’re going cheap, the i5-4590t (35w) and i5-4690s (65w) are both great options. i5-4590t i5-4690s The i5-4690t (45w) is also great but is hard to find from a trustworthy source for a reasonable price. If your willing to spend $100+ then easily the i7-4790t (45w). That is probably the best processor to put in the Alpha. All 45w will be used giving you 3.9 GHz Turbo. The T series apparently runs the best on the R1 according to This Reddit post. How to Replace Video GPU: Coming Soon! Maxed out Alpha R1 specs: i7-4790t, 1TB Samsung SSD, 16GB DDR3, Nvidia Geforce GTX 860m. (Upgrading to anything better then that is pointless)
Optimizing the Alpha R1
1st Completely wipe the computer
Just a good place to start, gets rid of Hivemind and other aging programs.
I'm attempting to use MSI afterburner to overclock my Alienware 1080 Ti (it's a prebuilt Aurora R7. I know, I know, go easy on me it was when bitcoin mining had driven up prices to extremes and I'd never built a PC before). I've tweaked the power limit along with core clock and memory clock, but when I use the Superposition Benchmark on 4k optimized I repeatedly get a score of around 6685 both before and after overclocking, although one time it managed a 6823 so only a 2% improvement. The GPU is also staying very cool, topping out at 68 degrees during the test. The GPU1 core clock at stock is at 1835 Mhz while running the Superposition Benchmark, and when I use the settings (Power 120%, Core clock +175, Mem Clock +450) it does go to 2000 Mhz during the test, but I'm only getting at best 1% better on the Superposition score, and sometimes the same even though from videos it makes it seem like I should be getting 5-10% better from those tweaks. There something I'm missing or is my card just not able to overclock?
There is a lot of cryptocurrency out there to invest in. I’m going to focus on the most promising alt coins to invest in, some new and promising projects, some ways to get free coins, and some ways to mine coins. I’m only giving you methods that I am personally invested in, that I follow, and feel have a promising future. I encourage you to do some reading on your own, and I will add some resources in. If you are going to get into this space, you are going to need a wallet to hold digital assets. At the same time, you have an opportunity to earn some free crypto currencies. Use the referral link below, and create an account with Coinbase. Coinbase is a secure platform that makes it easy to buy, sell, and store cryptocurrency. You’ll get $10 to buy whatever digital currencies you want. https://www.coinbase.com/join/haynes_6du After you sign up go to the home page, and scroll down to the section that reads “Earn free crypto with Coinbase Earn”, and click the button that reads “Earn crypto”. Watch a simple video on each asset to earn. Of these Tezos, Dai, and EOS are coins that have grown in popularity, are great projects and are expected to grow. When you are ready to move on, use the link below to get signed up at Crypto.com. Crypto.com is the cryptocurrency and payment platform that has a range of products aimed at promoting the adoption of cryptocurrencies on a wider scale. The link below is going to get you $50 in free MCO token. MCO token is the native ERC-20 cryptocurrency token of Crypto.com's payment platform. https://platinum.crypto.com/daqz2mheff I highly encourage you to look into staking your free MCO, and reading more into staking through the app. If you click the Crypto.com icon at the bottom of the app, and click the Earn button. You will see the options available to stake; or earn interest, on your MCO token at 4% for a three month term. There are other tokens you can stake, but I’ll leave that to you to read into. You’ll have plenty of time to read about that while your earning 4%. This is the first company to offer a credit card in the crypto space. Having a token backed by a credit card could really drive the price of MCO, which is one reason I am following this one closely. The next wallet you will need is called Trust Wallet. Trust Wallet is best used for ERC20 tokens, but is great for all other crytpocurrencies. The referral link below will get you some free Trust Wallet Tokens. https://share.trustwallet.com/Z5ZgFYN Moving on to interesting projects out there that could grow in the future. If you have a decent commute, or you drive for a living. Coin App is a great way to earn Coin tokens, and exchange them for either XYO token, Bitcoin, or Ethereum. Coin a Geolocation mining application, so the more you move the more you earn. It does have mini games that can be play to earn if you don’t move much. I will warn you that it is not worth much today. Each XYO token is worth $0.000189 cents. I currently have around 1 million of these coins, and thats only worth $200 USD. But I like the projects and the products the company is working on. I’m hoping that within three years this coin could be worth $5 or more per coin. If this is a project you are interested in, I can send you some additional information on how to take advantage of this. For now, use the referral link below, and you will get 1000 coins for signing up. https://coin.onelink.me/ePJg/6ea3a953 Another great project that is in early adoption, and costs you nothing to get into is Pi Network. This is the first digital currency you can mine on your phone. Pi Network allows users to earn PI cryptocurrency from any mobile device. Although this does not seem like a big deal, its growing a lot of attention around the world because its a way for anybody; especially people in third world countries to get into this space. Its still in beta, and is invite only, so you can use the referral link below to join. https://minepi.com/tpim and use my username (tpim) as your invitation code. Brave Browser is another great opportunity. In summary, it is an ad blocking browser built upon Google Chrome that allows you to choose who you give ad money to. By viewing the ads presented by Brave, you earn tokens in BAT, and those BAT tokens are auto-contributed to the ads and companies you prefer to tip. Auto-contribute can be turned off, but tipping is the only way the community will grow. As of 4/7/20, Brave Browser gained one million users in a month, token exchanges are adding support for the token, and investors are joining. BAT rewards can be redeemed through Amazon, Apple, Netflix, and more companies to com. Use the referral link below to read more about Brave, and get started. https://brave.com/ure861 I’m not going into detail about the coins below. But these are a few tokens that I am Invested in, and following because I see promise in their business plan. Basic Attention Token BAT, UniBright UBT, VeChain VET, Ripple XRP, Algorand ALGO, ChainLink LINK, Tezos XTZ; mentioned earlier. Please read up on these, and make your own decision to invest. A resource to look at all the coins out there is https://coinmarketcap.com/. Coin market cap is great resource. Start here https://coinmarketcap.com/intro-to-crypto/, for plenty of information regarding cryptocurrencies. If you are looking into using some of your computer resources; examples being processors, and or graphic cards, to mine cryptocurrencies, your best way to get started to sign up for an account at NiceHash. They take a little higher cut than getting the individual mining software yourself, but the advantage is their application will benchmark your system, and mine the most profitable coins for you, and pay you in Bitcoin. While you are earning, you can dive more into mining on the internet, and see what coins may be more profitable to you. Not every coin is minable, and not every coin is mined simply for profit. A resource you can use is https://whattomine.com/ which you can use to plug in the specifications of the hardware you have, and get an idea of what you can make based on the hardware you have vs the cost of electricity. Some words of advice. Never spend more than you are willing to lose in this space. Cryptocurrency is a highly volatile market, and nothing is guaranteed. Bitcoin is king, and the likely hood for any coin to beat it highly unlikely. As for the disclaimer, I am not a financial adviser, and I suggest you read into the resources out there if you are looking to truly get into this space.
So that's what I have so far. I don't really know what I'm doing, I'm just sort of picking things based on price and reviews. I haven't paid attention to PC parts since the bitcoin mining drove gpu prices way up, so I have no idea what the benchmarks for the 2000 series are, I assume the 2070 super is probably pretty good. I mostly just want to be able to run anything at max settings 1080p 60fps, while not having to upgrade much (if at all) for at least a couple years. My main concerns with this build right now is whether or not I'm undeover paying for certain parts, or if certain parts are inadequate or bottlenecking the performance of others. Also, tips on other parts I may still need (excluding monitors/k+m). Being able to cut costs on stuff I don't need would great. Thanks in advance!
Hey, I was hoping to get some advice. This will be the first computer I'll potentially build and I want to make sure I'm not making any mistakes here. I basically went on PC Parts Picker after reading a bunch of reviews and articles and tried to put a computer together, I have no idea what I'm doing, I essentially followed advice from reviews and chose highest rated components while trying to be as cheap as possible. It turned out to be 2 grand which is pretty rough. If someone wouldn't mind taking a look at the list and letting me know if there's any substitutions I can make to lower the price, that would be aces. PCPartPicker Part List
How sketchy are second hand parts? I read that people use gpus to mine bitcoins and stuff which is no bueno for the gpu then sell them but is there anything to kinda lookout for or is it all just random? Some of my concerns regarding the build are Cooling, from what I've read the included stock cooler with the Ryzen 7 3700x is pretty decent. I'm not really looking to overclock the CPU but is there any detriment to the life of the CPU over time by not having better cooling? X570 motherboards, I read something along the lines of with the new generation of Ryzen CPUs there may be some BIOS issues with older X-whatever motherboards and you'll need an older CPU to be able to boot and update the BIOS. So the 570 is the safest bet. I'm trying to save money where ever I can so is there maybe an older motherboard that is 1000000% known to work with a ryzen 7 3700x? 2070 super, how super is it? It was only 100ish more than the 2070 but I don't really understand what it means in terms of real world performance, I saw a lot of graphs with benchmarks but how worth it is the super over the regular 2070? How does RAM overall contribute to your computer? What would be the advantage of 16 vs 8gb in terms of real performance that you notice? Is it better to split the ram into more sticks and use all the slots on the motherboard? Any advice would be much appreciated, thanks for taking the time.
[EasyBTC] Web based mining control with profitability switching (2020 supported)
EasyBTC - program for automatic mining Main idea 1. Monitoring mining pools in real time. 2. Support most algorithms 3. Working with pools that have auto exchange for bitcoin 5. Monitoring the status of video cards. 6. Automatic switching of miners for profitability 7. Automatic switching of MSIAfterburner profiles. 8. Simple interface and setup. 9. Built-in benchmark algorithms. Mining fee consists not only from electricity, but mostly from administrative tasks. You should monitor cryptocurrency prices, difficulty, exchange currencies. If you have several rigs with different series GPUs, it becomes hard work. Especially if your want to control rigs remotely. EasyMiner try to cover all this questions. It would be useful as for newbie miners with couple GPUs, as experienced miners with multiple rigs. DOWNLOAD AND START Features -Easy install. No need to find mining software, create wallets for each cryptocurrency, exchange cryptocurrency. You need just download and install app. -Web basedcontrol center. You can control all your miners from one point. -Auto switch miners. Mining Agent continuously checks exchange rates and difficulty of cryptocurrencies and switches to most profitable. For now, EasyMiner supports switching between Ethereum and ZCash. Tell me currencies you need. I will add them. -Per GPU benchmarks and mining. If you have rig with different series of GPUs, Agent will load each GPU with most profitable algorithm. -BTC payouts. All your mined coins will be exchanged to Bitcoin and transferred to your wallet. -Detailed stats. You may see all your stats at Dashboard. - Supports failover. -Displays detailed mining information and hashrate for every card. -Supports GPU selection, built-in GPU overclocking features and temperature management. Requirements - Windows 10x64 - Nvidia GPUs 10xx series - At least 4Gb RAM (Depends on miner) Pools: NiceHash AhashPool ZergPool MultiPoolHub MiningRigRentals ZPool BlazePool BlockMasters I recommend nice and zerg, both basic and zpool in addition. Coming Soon - SMS alert - Mobile app
Alright, I keep seeing you fucks talk about how "Bitcoin is going to make Nvidia/AMD go to the moon". I'm going to walk all you fucks through bitcoin, crypto currencies, and how they effect the GPU market. What is Bitcoin? Bitcoin is a decentralized ledger. That's pretty much it. A set number of bitcoin is generated per block, and each block is solved when a resulting hash is found for the corresponding proof of work. The difficulty is adjusted periodically based on a formula, meaning that as hash rate rises and falls, the number of bitcoins produced per day is roughly the same. What does Bitcoin have to do with AMD and Nvidia? Fucking nothing. Bitcoin is mined on proprietary hardware called Application-specific Integrated Circuits (ASICs). Neither AMD or Nvidia produce these. Why does everyone keep talking about Bitcoin and AMD then? Because they're fucking retarded and you're listening to retards. Bitcoin runs on the SHA-256 Hashing Function which people have custom hardware for. The Crypto driving GPU sales is ETHEREUM, NOT BITCOIN What the fuck is Ethereum then? Don't worry about it. It's for smug assholes who are too edgy for Bitcoin. All you need to know is it runs on a different Hashing function than Bitcoin, so if you weren't a retard you'd probably realize that the proprietary hardware I talked about earlier won't work with it. Currently Ethereum is being mined the same way Bitcoin was when it first started; on GPUs. When are you going to tell me what to buy Shut the fuck up, learn something or kill your self. How many GPUs are being used to mine currently? Currently the Ethereum Hash Rate is 73,000 GH/s. For upcoming earnings, we should instead look at the period from April to June. April 1st shows a network hash rate of 16,500 GH/s, and June 31st shows 59,200 GH/s, meaning the network hash rate increased by 42,700 GH/s for this upcoming earnings report quarter. I've linked a decent benchmark for GPU hashrate . You should notice that all of these are quoted in MH/s, versus the Network reporting in GH/s; there are ALOT of fucking GPUs running on the network. A top of the line 1080 puts out about 20-25 MH/s, a good Radeon card does about 30. As a rough estimate, lets assume that the average card mining Ethereum currently produces about 25 MH/s. 42,700GH/s / 25MH/s means that there are 1.7 MILLION more GPUs currently mining ethereum than there were at the beginning of Q1. Based on my personal observations being involved in this, AMD is actually taking a majority market share of the sold cards just due to their superior performance compared to Nvidia's 1080s, and I'd estimate that About 50-60% of the cards currently mining Ethereum are AMD Radeons. What does this all mean? AMD are selling their highest margin video cards faster than they can produce them, and at ~250$ a pop with 50%-60% market capture AMD will have sold roughly 200-300 million dollars more in video cards than they did last quarter. AMD quarterly revenue last reported was just under 1 Billion. This is a 20-30% increase in revenue from last quarter, where Ethereum Hash Rate only increased by about 10,000GH/s. Even assuming a modest 30% margin for their video cards, AMD will still have almost 60 million in unexpected earnings this quarter due to crypto mining, which translates to about .06-.1 per share in earnings. tl;dr Ethereum will make AMD beat revenue by 20-30%. BUY AMD YOU CUCKS.
Console gaming is hardly different from PC gaming, and much of what people say about PC gaming to put it above console gaming is often wrong.
I’m not sure about you, but for the past few years, I’ve been hearing people go on and on about PCs "superiority" to the console market. People cite various reasons why they believe gaming on a PC is “objectively” better than console gaming, often for reasons related to power, costs, ease-of-use, and freedom. …Only problem: much of what they say is wrong. There are many misconceptions being thrown about PC gaming vs Console gaming, that I believe need to be addressed. This isn’t about “PC gamers being wrong,” or “consoles being the best,” absolutely not. I just want to cut through some of the stuff people use to put down console gaming, and show that console gaming is incredibly similar to PC gaming. I mean, yes, this is someone who mainly games on console, but I also am getting a new PC that I will game on as well, not to mention the 30 PC games I already own and play. I’m not particularly partial to one over the other. Now I will mainly be focusing on the PlayStation side of the consoles, because I know it best, but much of what I say will apply to Xbox as well. Just because I don’t point out many specific Xbox examples, doesn’t mean that they aren’t out there.
“PCs can use TVs and monitors.”
This one isn’t so much of a misconception as it is the implication of one, and overall just… confusing. This is in some articles and the pcmasterrace “why choose a PC” section, where they’re practically implying that consoles can’t do this. I mean, yes, as long as the ports of your PC match up with your screen(s) inputs, you could plug a PC into either… but you could do the same with a console, again, as long as the ports match up. I’m guessing the idea here is that gaming monitors often use Displayport, as do most dedicated GPUs, and consoles are generally restricted to HDMI… But even so, monitors often have HDMI ports. In fact, PC Magazine has just released their list of the best gaming monitors of 2017, and every single one of them has an HDMI port. A PS4 can be plugged into these just as easily as a GTX 1080. I mean, even if the monitoTV doesn’t have HDMI or AV to connect with your console, just use an adaptor. If you have a PC with ports that doesn’t match your monitoTV… use an adapter. I don’t know what the point of this argument is, but it’s made a worrying amount of times.
“On PC, you have a wide range of controller options, but on console you’re stuck with the standard controller."
Are you on PlayStation and wish you could use a specific type of controller that suits your favorite kind of gameplay? Despite what some may believe, you have just as many options as PC. Want to play fighting games with a classic arcade-style board, featuring the buttons and joystick? Here you go! Want to get serious about racing and get something more accurate and immersive than a controller? Got you covered. Absolutely crazy about flying games and, like the racers, want something better than a controller? Enjoy! Want Wii-style motion controls? Been around since the PS3. If you prefer the form factor of the Xbox One controller but you own a PS4, Hori’s got you covered. And of course, if keyboard and mouse it what keeps you on PC, there’s a PlayStation compatible solution for that. Want to use the keyboard and mouse that you already own? Where there’s a will, there’s a way. Of course, these aren’t isolated examples, there are plenty of options for each of these kind of controllers. You don’t have to be on PC to enjoy alternate controllers.
“On PC you could use Steam Link to play anywhere in your house and share games with others.”
PS4 Remote play app on PC/Mac, PSTV, and PS Vita. PS Family Sharing. Using the same PSN account on multiple PS4s/Xbox Ones and PS3s/360s, or using multiple accounts on the same console. In fact, if multiple users are on the same PS4, only one has to buy the game for both users to play it on that one PS4. On top of that, only one of them has to have PS Plus for both to play online (if the one with PS Plus registers the PS4 as their main system). PS4 Share Play; if two people on separate PS4s want to play a game together that only one of them owns, they can join a Party and the owner of the game can have their friend play with them in the game. Need I say more?
“Gaming is more expensive on console.”
Part one, the Software This is one that I find… genuinely surprising. There’s been a few times I’ve mentioned that part of the reason I chose a PS4 is for budget gaming, only to told that “games are cheaper on Steam.” To be fair, there are a few games on PSN/XBL that are more expensive than they are on Steam, so I can see how someone could believe this… but apparently they forgot about disks. Dirt Rally, a hardcore racing sim game that’s… still $60 on all 3 platforms digitally… even though its successor is out.
See my point? Often times the game is cheaper on console because of the disk alternative that’s available for practically every console-available game. Even when the game is brand new. Dirt 4 - Remember that Dirt Rally successor I mentioned?
Yes, you could either buy this relatively new game digitally for $60, or just pick up the disk for a discounted price. And again, this is for a game that came out 2 months ago, and even it’s predecessor’s digital cost is locked at $60. Of course, I’m not going to ignore the fact that Dirt 4 is currently (as of writing this) discounted on Steam, but on PSN it also happens to be discounted for about the same amount. Part 2: the Subscription Now… let’s not ignore the elephant in the room: PS Plus and Xbox Gold. Now these would be ignorable, if they weren’t required for online play (on the PlayStation side, it’s only required for PS4, but still). So yes, it’s still something that will be included in the cost of your PS4 or Xbox One/360, assuming you play online. Bummer, right? Here’s the thing, although that’s the case, although you have to factor in this $60 cost with your console, you can make it balance out, at worst, and make it work out for you as a budget gamer, at best. As nice as it would be to not have to deal with the price if you don’t want to, it’s not like it’s a problem if you use it correctly. Imagine going to a new restaurant. This restaurant has some meals that you can’t get anywhere else, and fair prices compared to competitors. Only problem: you have to pay a membership fee to have the sides. Now you can have the main course, sit down and enjoy your steak or pasta, but if you want to have a side to have a full meal, you have to pay an annual fee. Sounds shitty, right? But here’s the thing: not only does this membership allow you to have sides with your meal, but it also allows you to eat two meals for free every month, and also gives you exclusive discounts for other meals, drinks, and desserts. Let’s look at PS Plus for a minute: for $60 per year, you get:
2 free PS4 games, every month
2 free PS3 games, every month
1 PS4/PS3 and Vita compatible game, and 1 Vita-only game, every month
Exclusive/Extended discounts, especially during the weekly/seasonal sales (though you don’t need PS Plus to get sales, PS Plus members get to enjoy the best sales)
access to online multiplayer
So yes, you’re paying extra because of that membership, but what you get with that deal pays for it and then some. In fact, let’s ignore the discounts for a minute: you get 24 free PS4 games, 24 free PS3 games, and 12 Vita only + 12 Vita compatible games, up to 72freegames every year. Even if you only one of these consoles, that’s still 24 free games a year. Sure, maybe you get games for the month that you don’t like, then just wait until next month. In fact, let’s look at Just Cause 3 again. It was free for PS Plus members in August, which is a pretty big deal. Why is this significant? Because it’s, again, a $60 digital game. That means with this one download, you’ve balanced out your $60 annual fee. Meaning? Every free game after that is money saved, every discount after that is money saved. And this is a trend: every year, PS Plus will release a game that balances out the entire service cost, then another 23 more that will only add icing to that budget cake. Though, you could just count games as paying off PS Plus until you hit $60 in savings, but still. All in all, PS Plus, and Xbox Gold which offers similar options, saves you money. On top of that, again, you don't need to have these to get discounts, but with these memberships, you get more discounts. Now, I’ve seen a few Steam games go up for free for a week, but what about being free for an entire month? Not to mention that; even if you want to talk about Steam Summer Sales, what about the PSN summer sale, or again, disc sale discounts? Now a lot of research and math would be needed to see if every console gamer would save money compared to every Steam gamer for the same games, but at the very least? The costs will balance out, at worst. Part 3, the Systems
Xbox and PS2: $299
Xbox 360 and PS3: $299 and $499, respectively
Xbox One and PS4: $499 and $399, respectively.
Rounded up a few dollars, that’s $1,000 - $1,300 in day-one consoles, just to keep up with the games! Crazy right? So called budget systems, such a rip-off. Well, keep in mind that the generations here aren’t short. The 6th generation, from the launch of the PS2 to the launch of the next generation consoles, lasted 5 years, 6 years based on the launch of the PS3 (though you could say it was 9 or 14, since the Xbox wasn’t discontinued until 2009, and the PS2 was supported all the way to 2014, a year after the PS4 was released). The 7th gen lasted 7 - 8 years, again depending on whether you count the launch of the Xbox 360 to PS3. The 8th gen so far has lasted 4 years. That’s 17 years that the console money is spread over. If you had a Netflix subscription for it’s original $8 monthly plan for that amount of time, that would be over $1,600 total. And let’s be fair here, just like you could upgrade your PC hardware whenever you wanted, you didn’t have to get a console from launch. Let’s look at PlayStation again for example: In 2002, only two years after its release, the PS2 retail price was cut from $300 to $200. The PS3 Slim, released 3 years after the original, was $300, $100-$200 lower than the retail cost. The PS4? You could’ve either gotten the Uncharted bundle for $350, or one of the PS4 Slim bundles for $250. This all brings it down to $750 - $850, which again, is spread over a decade and a half. This isn’t even counting used consoles, sales, or the further price cuts that I didn’t mention. Even if that still sounds like a lot of money to you, even if you’re laughing at the thought of buying new systems every several years, because your PC “is never obsolete,” tell me: how many parts have you changed out in your PC over the years? How many GPUs have you been through? CPUs? Motherboards? RAM sticks, monitors, keyboards, mice, CPU coolers, hard drives— that adds up. You don’t need to replace your entire system to spend a lot of money on hardware. Even if you weren’t upgrading for the sake of upgrading, I’d be amazed if the hardware you’ve been pushing by gaming would last for about 1/3 of that 17 year period. Computer parts aren’t designed to last forever, and really won’t when you’re pushing them with intensive gaming for hours upon hours. Generally speaking, your components might last you 6-8 years, if you’ve got the high-end stuff. But let’s assume you bought a system 17 years ago that was a beast for it’s time, something so powerful, that even if it’s parts have degraded over time, it’s still going strong. Problem is: you will have to upgrade something eventually. Even if you’ve managed to get this far into the gaming realm with the same 17 year old hardware, I’m betting you didn’t do it with a 17 year Operating System. How much did Windows 7 cost you? Or 8.1? Or 10? Oh, and don’t think you can skirt the cost by getting a pre-built system, the cost of Windows is embedded into the cost of the machine (why else would Microsoft allow their OS to go on so many machines). Sure, Windows 10 was a free upgrade for a year, but that’s only half of it’s lifetime— You can’t get it for free now, and not for the past year. On top of that, the free period was an upgrade; you had to pay for 7 or 8 first anyway. Point is, as much as one would like to say that they didn’t need to buy a new system every so often for the sake of gaming, that doesn’t mean they haven’t been paying for hardware, and even if they’ve only been PC gaming recently, you’ll be spending money on hardware soon enough.
“PC is leading the VR—“
Let me stop you right there. If you add together the total number of Oculus Rifts and HTC Vives sold to this day, and threw in another 100,000 just for the sake of it, that number would still be under the number of PSVR headsets sold. Why could this possibly be? Well, for a simple reason: affordability. The systems needed to run the PC headsets costs $800+, and the headsets are $500 - $600, when discounted. PSVR on the other hand costs $450 for the full bundle (headset, camera, and move controllers, with a demo disc thrown in), and can be played on either a $250 - $300 console, or a $400 console, the latter recommended. Even if you want to say that the Vive and Rift are more refined, a full PSVR set, system and all, could cost just over $100 more than a Vive headset alone. If anything, PC isn’t leading the VR gaming market, the PS4 is. It’s the system bringing VR to the most consumers, showing them what the future of gaming could look like. Not to mention that as the PlayStation line grows more powerful (4.2 TFLOP PS4 Pro, 10 TFLOP “PS5…”), it won’t be long until the PlayStation line can use the same VR games as PC. Either way, this shows that there is a console equivalent to the PC VR options. Sure, there are some games you'd only be able to play on PC, but there are also some games you'd only be able to play on PSVR. …Though to be fair, if we’re talking about VR in general, these headsets don’t even hold a candle to, surprisingly, Gear VR.
“If it wasn’t for consoles holding devs back, then they would be able to make higher quality games.”
This one is based on the idea that because of how “low spec” consoles are, that when a developer has to take them in mind, then they can’t design the game to be nearly as good as it would be otherwise. I mean, have you ever seen the minimum specs for games on Steam? GTA V
Actually, bump up all the memory requirements to 8 GBs, and those are some decent specs, relatively speaking. And keep in mind these are the minimum specs to even open the games. It’s almost as if the devs didn’t worry about console specs when making a PC version of the game, because this version of the game isn’t on console. Or maybe even that the consoles aren’t holding the games back that much because they’re not that weak. Just a hypothesis. But I mean, the devs are still ooobviously having to take weak consoles into mind right? They could make their games sooo much more powerful if they were PC only, right? Right? No. Not even close. iRacing
CPU: Intel Core i3, i5, i7 or better or AMD Bulldozer or better
Memory: 8 GB RAM
GPU: NVidia GeForce 2xx series or better, 1GB+ dedicated video memory / AMD 5xxx series or better, 1GB+ dedicated video memory
These are PC only games. That’s right, no consoles to hold them back, they don’t have to worry about whether an Xbox One could handle it. Yet, they don’t require anything more than the Multiplatform games. Subnautica
So what’s the deal? Theoretically, if developers don’t have to worry about console specs, then why aren’t they going all-out and making games that no console could even dream of supporting? Low-end PCs. What, did you think people only game on Steam if they spent at least $500 on gaming hardware? Not all PC gamers have gaming-PC specs, and if devs close their games out to players who don’t have the strongest of PCs, then they’d be losing out on a pretty sizable chunk of their potential buyers. Saying “devs having to deal with consoles is holding gaming back” is like saying “racing teams having to deal with Ford is holding GT racing back.” A: racing teams don’t have to deal with Ford if they don’t want to, which is probably why many of them don’t, and B: even though Ford doesn’t make the fastest cars overall, they still manage to make cars that are awesome on their own, they don’t even need to be compared to anything else to know that they make good cars. I want to go back to that previous point though, developers having to deal with low-end PCs, because it’s integral to the next point:
“PCs are more powerful, gaming on PC provides a better experience.”
This one isn’t so much of a misconception as it is… misleading. Did you know that according to the Steam Hardware & Software Survey (July 2017) , the percentage of Steam gamers who use a GPU that's less powerful than that of a PS4Slim’s GPU is well over 50%? Things get dismal when compared to the PS4 Pro (Or Xbox One X). On top of that, the percentage of PC gamers who own a Nvidia 10 series card is about 20% (about 15% for the 1060, 1080 and 1070 owners). Now to be fair, the large majority of gamers have CPUs with considerably high clock speeds, which is the main factor in CPU gaming performance. But, the number of Steam gamers with as much RAM or more than a PS4 or Xbox One is less than 50%, which can really bottleneck what those CPUs can handle. These numbers are hardly better than they were in 2013, all things considered. Sure, a PS3/360 weeps in the face of even a $400 PC, but in this day in age, consoles have definitely caught up. Sure, we could mention the fact that even 1% of Steam accounts represents over 1 million accounts, but that doesn’t really matter compared to the 10s of millions of 8th gen consoles sold; looking at it that way, sure the number of Nvidia 10 series owners is over 20 million, but that ignores the fact that there are over 5 times more 8th gen consoles sold than that. Basically, even though PCs run on a spectrum, saying they're more powerful “on average” is actually wrong. Sure, they have the potential for being more powerful, but most of the time, people aren’t willing to pay the premium to reach those extra bits of performance. Now why is this important? What matters are the people who spent the premium cost for premium parts, right? Because of the previous point: PCs don’t have some ubiquitous quality over the consoles, developers will always have to keep low-end PCs in mind, because not even half of all PC players can afford the good stuff, and you have to look at the top quarter of Steam players before you get to PS4-Pro-level specs. If every Steam player were to get a PS4 Pro, it would be an upgrade for over 60% of them, and 70% of them would be getting an upgrade with the Xbox One X. Sure, you could still make the argument that when you pay more for PC parts, you get a better experience than you could with a console. We can argue all day about budget PCs, but a console can’t match up to a $1,000 PC build. It’s the same as paying more for car parts, in the end you get a better car. However, there is a certain problem with that…
“You pay a little more for a PC, you get much more quality.”
The idea here is that the more you pay for PC parts, the performance increases at a faster rate than the price does. Problem: that’s not how technology works. Paying twice as much doesn’t get you twice the quality the majority of the time. For example, let’s look at graphics cards, specifically the GeForce 10 series cards, starting with the GTX 1050.
1.35 GHz base clock
2 GB VRAM
This is our reference, our basis of comparison. Any percentages will be based on the 1050’s specs. Now let’s look at the GTX 1050 Ti, the 1050’s older brother.
1.29 GHz base clock
4 GB VRAM
This is pretty good. You only increase the price by about 27%, and you get an 11% increase in floating point speed and a 100% increase (double) in VRAM. Sure you get a slightly lower base clock, but the rest definitely makes up for it. In fact, according to GPU boss, the Ti managed 66 fps, or a 22% increase in frame rate for Battlefield 4, and a 54% increase in mHash/second in bitcoin mining. The cost increase is worth it, for the most part. But let’s get to the real meat of it; what happens when we double our budget? Surely we should see a massive increase performance, I bet some of you are willing to bet that twice the cost means more than twice the performance. The closest price comparison for double the cost is the GTX 1060 (3 GB), so let’s get a look at that.
1.5 GHz base clock
3 GB VRAM
Well… not substantial, I’d say. About a 50% increase in floating point speed, an 11% increase in base clock speed, and a 1GB decrease in VRAM. For [almost] doubling the price, you don’t get much. Well surely raw specs don’t tell the full story, right? Well, let’s look at some real wold comparisons. Once again, according to GPU Boss, there’s a 138% increase in hashes/second for bitcoin mining, and at 99 fps, an 83% frame rate increase in Battlefield 4. Well, then, raw specs does not tell the whole story! Here’s another one, the 1060’s big brother… or, well, slightly-more-developed twin.
1.5 GHz base clock
6 GB VRAM
Seems reasonable, another $50 for a decent jump in power and double the memory! But, as we’ve learned, we shouldn’t look at the specs for the full story. I did do a GPU Boss comparison, but for the BF4 frame rate, I had to look at Tom’s Hardware (sorry miners, GPU boss didn’t cover the mHash/sec spec either). What’s the verdict? Well, pretty good, I’d say. With 97 FPS, a 79% increase over the 1050— wait. 97? That seems too low… I mean, the 3GB version got 99. Well, let’s see what Tech Power Up has to say... 94.3 fps. 74% increase. Huh. Alright alright, maybe that was just a dud. We can gloss over that I guess. Ok, one more, but let’s go for the big fish: the GTX 1080.
1.6 GHz base clock
8 GB VRAM
That jump in floating point speed definitely has to be something, and 4 times the VRAM? Sure it’s 5 times the price, but as we saw, raw power doesn’t always tell the full story. GPU Boss returns to give us the run down, how do these cards compare in the real world? Well… a 222% (over three-fold) increase in mHash speed, and a 218% increase in FPS for Battlefield 4. That’s right, for 5 times the cost, you get 3 times the performance. Truly, the raw specs don’t tell the full story. You increase the cost by 27%, you increase frame rate in our example game by 22%. You increase the cost by 83%, you increase the frame rate by 83%. Sounds good, but if you increase the cost by 129%, and you get a 79% (-50% cost/power increase) increase in frame rate. You increase it by 358%, and you increase the frame rate by 218% (-140% cost/power increase). That’s not paying “more for much more power,” that’s a steep drop-off after the third cheapest option. In fact, did you know that you have to get to the 1060 (6GB) before you could compare the GTX line to a PS4 Pro? Not to mention that at $250, the price of a 1060 (6GB) you could get an entire PS4 Slim bundle, or that you have to get to the 1070 before you beat the Xbox One X. On another note, let’s look at a PS4 Slim…
800 MHz base clock
8 GB VRAM
…Versus a PS4 Pro.
911 MHz base clock
8 GB VRAM
128% increase in floating point speed, 13% increase in clock speed, for a 25% difference in cost. Unfortunately there is no Battlefield 4 comparison to make, but in BF1, the frame rate is doubled (30 fps to 60) and the textures are taken to 11. For what that looks like, I’ll leave it up to this bloke. Not to even mention that you can even get the texture buffs in 4K. Just like how you get a decent increase in performance based on price for the lower-cost GPUs, the same applies here. It’s even worse when you look at the CPU for a gaming PC. The more money you spend, again, the less of a benefit you get per dollar. Hardware Unboxed covers this in a video comparing different levels of Intel CPUs. One thing to note is that the highest i7 option (6700K) in this video was almost always within 10 FPS (though for a few games, 15 FPS) of a certain CPU in that list for just about all of the games. …That CPU was the lowest i3 (6100) option. The lowest i3 was $117 and the highest i7 was $339, a 189% price difference for what was, on average, a 30% or less difference in frame rate. Even the lowest Pentium option (G4400, $63) was often able to keep up with the i7. The CPU and GPU are usually the most expensive and power-consuming parts of a build, which is why I focused on them (other than the fact that they’re the two most important parts of a gaming PC, outside of RAM). With both, this “pay more to get much more performance” idea is pretty much the inverse of the truth.
“The console giants are bad for game developers, Steam doesn't treat developers as bad as Microsoft or especially Sony.”
Now one thing you might’ve heard is that the PS3 was incredibly difficult for developers to make games for, which for some, fueled the idea that console hardware is difficult too develop on compared to PC… but this ignores a very basic idea that we’ve already touched on: if the devs don’t want to make the game compatible with a system, they don’t have to. In fact, this is why Left 4 Dead and other Valve games aren’t on PS3, because they didn’t want to work with it’s hardware, calling it “too complex.” This didn’t stop the game from selling well over 10 million units worldwide. If anything, this was a problem for the PS3, not the dev team. This also ignores that games like LittleBigPlanet, Grand Theft Auto IV, and Metal Gear Solid 4 all came out in the same year as Left 4 Dead (2008) on PS3. Apparently, plenty of other dev teams didn’t have much of a problem with the PS3’s hardware, or at the very least, they got used to it soon enough. On top of that, when developing the 8th gen consoles, both Sony and Microsoft sought to use CPUs that were easier for developers, which included making decisions that considered apps for the consoles’ usage for more than gaming. On top of that, using their single-chip proprietary CPUs is cheaper and more energy efficient than buying pre-made CPUs and boards, which is far better of a reason for using them than some conspiracy about Sony and MS trying to make devs' lives harder. Now, console exclusives are apparently a point of contention: it’s often said that exclusive can cause developers to go bankrupt. However, exclusivity doesn’t have to be a bad thing for the developer. For example, when Media Molecule had to pitch their game to a publisher (Sony, coincidentally), they didn’t end up being tied into something detrimental to them. Their initial funding lasted for 6 months. From then, Sony offered additional funding, in exchange for Console Exclusivity. This may sound concerning to some, but the game ended up going on to sell almost 6 million units worldwide and launched Media Molecule into the gaming limelight. Sony later bought the development studio, but 1: this was in 2010, two years after LittleBigPlanet’s release, and 2: Media Molecule seem pretty happy about it to this day. If anything, signing up with Sony was one of the best things they could’ve done, in their opinion. Does this sound like a company that has it out for developers? There are plenty of examples that people will use to put Valve in a good light, but even Sony is comparatively good to developers.
“There are more PC gamers.”
The total number of active PC gamers on Steam has surpassed 120 million, which is impressive, especially considering that this number is double that of 2013’s figure (65 million). But the number of monthly active users on Xbox Live and PSN? About 120 million (1, 2) total. EDIT: You could argue that this isn't an apples-to-apples comparison, sure, so if you want to, say, compare the monthly number of Steam users to console? Steam has about half of what consoles do, at 67 million. Now, back to the 65 million total user figure for Steam, the best I could find for reference for PlayStation's number was an article giving the number of registered PSN accounts in 2013, 150 million. In a similar 4-year period (2009 - 2013), the number of registered PSN accounts didn’t double, it sextupled, or increased by 6 fold. Considering how the PS4 is already at 2/3 of the number of sales the PS3 had, even though it’s currently 3 years younger than its predecessor, I’m sure this trend is at least generally consistent. For example, let’s look at DOOM 2016, an awesome faced-paced shooting title with graphics galore… Of course, on a single platform, it sold best on PC/Steam. 2.36 million Steam sales, 2.05 million PS4 sales, 1.01 million Xbox One sales. But keep in mind… when you add the consoles sales together, you get over 3 million sales on the 8th gen systems. Meaning: this game was best sold on console. In fact, the Steam sales have only recently surpassed the PS4 sales. By the way VG charts only shows sales for physical copies of the games, so the number of PS4 and Xbox sales, when digital sales are included, are even higher than 3 million. This isn’t uncommon, by the way. Even with the games were the PC sales are higher than either of the consoles, there generally are more console sales total. But, to be fair, this isn’t anything new. The number of PC gamers hasn’t dominated the market, the percentages have always been about this much. PC can end up being the largest single platform for games, but consoles usually sell more copies total. EDIT: There were other examples but... Reddit has a 40,000-character limit.
This isn’t to say that there’s anything wrong with PC gaming, and this isn’t to exalt consoles. I’m not here to be the hipster defending the little guy, nor to be the one to try to put down someone/thing out of spite. This is about showing that PCs and consoles are overall pretty similar because there isn’t much dividing them, and that there isn’t anything wrong with being a console gamer. There isn’t some chasm separating consoles and PCs, at the end of the day they’re both computers that are (generally) designed for gaming. This about unity as gamers, to try to show that there shouldn’t be a massive divide just because of the computer system you game on. I want gamers to be in an environment where specs don't separate us; whether you got a $250 PS4 Slim or just built a $2,500 gaming PC, we’re here to game and should be able to have healthy interactions regardless of your platform. I’m well aware that this isn’t going to fix… much, but this needs to be said: there isn’t a huge divide between the PC and consoles, they’re far more similar than people think. There are upsides and downsides that one has that the other doesn’t on both sides. There’s so much more I could touch on, like how you could use SSDs or 3.5 inch hard drives with both, or that even though PC part prices go down over time, so do consoles, but I just wanted to touch on the main points people try to use to needlessly separate the two kinds of systems (looking at you PCMR) and correct them, to get the point across. I thank anyone who takes the time to read all of this, and especially anyone who doesn’t take what I say out of context. I also want to note that, again, thisisn’t “anti-PC gamer.” If it were up to me, everyone would be a hybrid gamer. Cheers.
This is a little long, IDK if anyone will read this, but i feel like this needs to be said. When my friends ask me why I’m in crypto, along with the upside of the technology I am very very wary of the future of the dollar. I’ll go into detail shortly but first here here are some other entities/people that share my same opinion.
Why is the dollar in trouble? It is how the dollar is produced, how they get into circulation, this is done through government borrowing and fractional reserve lending. For this post I am going to focus on Government borrowing. A lot of people do not know how dollars are created, my parents don’t, my friends don’t, I remember asking teachers in high school this, and they did not know. We are not on a gold standard, the dollar is backed by absolutely nothing, dollars get into circulation through the government borrowing them from the federal reserve (FED) along with fractional lending (also a farce). When the government borrows from the FED, there FED prints the dollars and gives them to the government. The money did not exist before hand, and is created to give to the government. The government then owes this money back, plus interest. However the government never pays back the original amount, only pays the interest, each year the government will borrow more money. This would be equal to you or me getting a credit card, maxing it out, then getting another one, and repeating the process forever. The debt ceiling is a joke, it is not a ceiling, but a budget on how much deficit spending the government will incur during that current year. The whole act of the US not increasing it is a show. If we ever chose not to raise the debt ceiling, the US will default on its debt which would be the end of days for financial markets. This is not an option, the US will never default on its debt, and thus it will continue borrowing forever, it’s the only option. This has an inflationary effect on the dollar, the amount of interest each year the government pays on the debt will increase (assuming the interest rates are the same), along with the amount of total national debt increasing. WE ARE PAYING FOR THIS. By the government borrowing more money and putting that money into circulation an inflation affect occurs. There will be more money created, and more and more money will be created every year forever. The US currently has close to $20Trillion in debt, not including outstanding liabilities (government pensions, social security, etc.) This will increase forever, the amount that will be needed to be borrowed by the government will increase forever, inflating the dollar forever. This increases exponentially. This is unavoidable, and there is literally no way out of this. Note: The inflation rate we see is the commodities inflation rate, how much milk, bread, etc., increased in cost, not how much currency is in circulation. As if this wasn’t bad enough there are talks about removing the debt “ceiling” altogether, https://www.washingtonpost.com/news/wonk/wp/2017/09/07/trump-schumer-agree-to-pursue-plan-to-repeal-the-debt-ceiling/?utm_term=.6bd331865207 What will happen when the government no longer has a budget and is even more free to spend at will? More dollars will be created further diluting the value of the dollar. Note: The US government has “lost” 8.8 Trillion dollars over the past few years. They just don’t know where it went, maybe a secret space program that wasn’t accounted properly to hide it, maybe some dude committed fraud, we don’t know. http://www.cnn.com/2016/08/23/politics/us-army-audit-accounting-errors/index.html $6.5M in 2015 https://www.metabunk.org/debunked-rumsfeld-says-2-3-trillion-missing-from-the-pentagon.t165/ $2.3M in 2001. Crypto Currencies have a clear advantage over this system, not controlled by the government, not borrowed into existence with no hope to pay it back, it can move large sums of money within minutes, not subject to confiscation by anyone, and there is no central bank. Dimon says bitcoin is a fraud, and CNBC just linked bitcoin mining to funding NK’s nuclear program. Also ACH’s can now do same day transfers (weird right, seems like theyre doing this to compete with something) https://www.cnbc.com/2017/09/13/bitcoin-mining-a-new-way-for-north-korea-to-generate-funds-for-the-regime.html - It feels like the MSM propaganda machine is turning. https://www.cnbc.com/2017/09/13/bitcoin-mining-a-new-way-for-north-korea-to-generate-funds-for-the-regime.html - ACH details. The powers at be see whats coming, and what cryptos potential is. We spend our lives working for fiat currency that the governments essentially gets for free. Our lives are controlled by this, we go to work to buy a house, a car, are encouraged to take on debt for these things, we unwilling becoming bitches of this system. Trading hours of our lives for fiat currency that the government gets for free. This is bullshit, and its time we wake up to this and take a stand! I’ll leave this quote by henry ford as my ending comments It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. - Henry Ford Please look up more information on this on your own. This is something i feel everyone should know. LONG LIVE CRYPTO.
Upgrading from an FX-8350 to a R7-1700. Just a bit about me – I have been building computers since the mid 80’s. I missed the 8-inch floppy disk era, but came on board when dual 5.25” was considered mainstream and a 10-megabyte full-height HDD was the mark of a power user. The first computer I built for my own enjoyment was an AMD X5-133 (a factory overclocked 486 faster than the Pentium-75), and I’ve used a wide variety of systems since then, including a Pentium Pro-200 which served me well in college and a K6-2 which I took to quite a few LAN parties. While I’ve always had Intel notebooks, my PC’s have been AMD for quite some time now. I decided to upgrade my current main machine, which is an FX-8350 with a mild 4.4Ghz overclock. I was using 2x8GB Crucial Ballistix DDR3-1600 and a Sapphire Radeon Fury Nitro. While I know the R5-1600x would be a better bet for a pure gaming build, I have a soft spot for 8-core machines. I had been tempted to pull the trigger on an i7-7700k for a while, but the timing never worked out. But when I found the R7-1700 at a deep discount and an X370 motherboard on the shelf next to it – I couldn’t resist the siren call of a new build. Here are my thoughts about the process: AM4 is physically the same as AM3 from a build perspective, except for the mounting holes. I don’t know what was so important about making the holes have different offsets, but this makes it much more difficult to get quality cooling. Not all manufacturers have brackets yet, and I’m still waiting on Cooler Master to release the brackets for my Siedon 240. The new motherboard feels very different from my AM3 board. My FX-8350 sat on an ASUS M5A99FX Pro R2.0. It was, for lack of a better word, a very workstation-ish board. 4 PCIx16 slots, 10x USB ports (2 of the USB 3.0), triple USB 2.0 front panel headers (and a USB 3.0 front panel header as well), eSATA on the rear panel, beefy VRM and Northbridge cooling, Toslink output for audio, and so on. The board itself is full of tiny components, support chips, and ports. Granted, many of these connectors are outdated (eSATA and USB2.0), and the PCIe is only 2.0 instead of current-gen 3.0, but there is a LOT of connectivity. Few people paired an FX chip with triple of quad-GPU for gaming, but I know a fair number of people used these for bitcoin mining back before there was widespread ASIC support and back then GPU mining was the most cost-effective way to mint cryptocurrency. Extra PCIe slots could be used for dedicated video capture, PCI-based storage, a RAID card, etc... Having 4 full-size slots allows this kind of flexibility. The new motherboard is an Asrock Fatal1ty x370 Gaming K4. It does not feel very workstation-ish at all. It has only two 16x PCIe slots (and when they are both in use they are only 8x), 8 USB ports on the rear panel, and a much less “busy” motherboard. Very few support chips litter its surface. Instead of a workstation component, it feels much more like a luxury consumer product. This is not a bad thing – just something I noticed while building the system. The rear IO shield is red and black to match its gaming aesthetic, it includes things like premium audio (including a very nice headphone amplifier for the front panel connectors), and while it only has 8x USB ports on the back, 6 of them are USB 3.0 and two of them (including a type-C connector) are USB 3.1 gen2. It includes RGB LED’s under the chipset heatsink and three separate RGB LED controller ports (one of which is used for the boxed cooler), Intel gigabit Ethernet, and dual M.2 slots (one of which connected directly to the CPU). It is very different in “feel” from the older ASUS board, even down to things like a shroud for the external connectors and metal-reinforced PCI slots. I must say, its more aggressive appearance and near-empty areas appeal to me. It does, however, funnel the builder into a particular configuration: limited fast storage through the M.2 slots, slow(er) storage through the 6x SATA ports, all external devices should be USB 3. Personally, these limitations didn’t restrict me for this build, since that was how I was going to set it up anyway, but the fewer connectivity choices might cause some pause for others. The only thing I don’t like about this board is the 20 second POST times. 20 seconds every time. Resuming from sleep is very fast, just reboots are slow. That’s really it. I have no substantive complaints other than that – well, and the memory speed limitations – more on that below. The Wraith Spire cooler is without doubt the best looking box cooler I’ve ever seen. The symmetrical cylinder look, combined with the LED logo and RGB ring are very striking. I can see why many people have asked to order one, though I think for the 1700X and 1800X they are better off without it. I’ll explain why further down. Initial hardware setup was very easy. I was able to flash to the newest 2.0 BIOS without any hassle using a DOS USB flash boot drive. The 2.0 BIOS has the newest AGESA code from AMD, as well as support for the R5 processors and better DDR4 compatibility. I didn’t want to cheap out on RAM since apparently Ryzen is sensitive to DDR4 speeds for the latency between cores. I bought the cheapest 16GB DDR4-3200 kit I could find (the EVGA SuperSC 2x8GB), for which I paid $115. While I was not able to get it to boot at 3200, I could get 2933 simply by activating XMP, then manually changing the speed from 3200 to 3000. I then tested it with MemTest86 for two complete cycles, which it passed without errors. I have encountered zero memory issues with these RAM sticks running at 2933. Since this motherboard does not officially support DDR4-3200 at all, I figure this is a good outcome. I am curious to know whether anyone has gotten 3200 on this board – that is, whether the lack of 3200 memory on Asrock’s QVL is a marketing issue or an actual hardware limitation – but I didn’t want to spend nearly double that amount in order to get AM4 verified memory (G.Skill’s FlareX), and 2966 seemed fast enough from the benchmark results I had read. My old setup had a Samsung 850 EVO 256gb SATA6 drive as the primary boot/gaming drive. It seemed plenty fast but it had become too small for my needs, so this seemed like a good opportunity to buy a new SSD. I originally thought the NVMe drives would be out of my price range, but I bought the Intel 600p 512GB drive for only $10 more than I would have paid for a premium SATA6 drive. Though the 600p is without doubt the SLOWEST NVMe drive out there, it has 3x the read speed as the SATA6 drives, and most of what I am doing with it is trying to get quicker load times. If I was using it for professional workloads (as a video editing scratch drive, for example), I would need much higher sustained write speeds and then Samsung would be the obvious answer. I just didn’t want to spend an extra $80 on write performance that I’d never notice, and the 600p has been an excellent boot/gaming drive. Ok, back to the Wraith Spire. I tend to have bad luck with the silicon lottery. My FX-8350 was not able to be stable above 4.4Ghz with reasonable temperatures. I was hoping I would be able to get better results from the R7-1700, since general reports indicated that it overclocked well. Unfortunately, it is difficult to tell how good of an overclock I am getting since I can find no good information about maximum recommended temperatures for this chip. Some people say 75c is the maximum safe temp. Others say 75c is a fine everyday 24/7 temp. Others say they are running it at 80c all the time without any issues at all. Steve at Techspot was getting 88c and 90c when overclocking the 1600X and 1500X using the stock coolers and without any instability – were those dangerous temps or totally fine? Nobody seems to know. I like my overclocks to be set-and-forget. I want to get it dialed in and then leave it for years without worrying that it will burn up or degrade or that in this or that application I have to turn back to stock speeds because of the thermals. Since I don’t know what max safe thermals are, I just have to guess based on stock thermals. For stock speeds, the Wraith Spire does a good job. It is very quiet, and after a few BIOS fan-curve tweaks, it keeps the chip around 35-38 at idle, and around 68-70 on Prime95 (Small FFT, for maximum temperature generation). Incidentally, it also hits 70 if I run Cinebench a bunch of times in a row as well, so I don’t consider the Small FFT test to be totally unrealistic for the load this chip might encounter. From what I can tell, these are good normal temps. I can get 3.5Ghz by simply changing the multiplier and leaving the voltage at stock. This gives Cinebench numbers around the 1550 mark (roughly 6900k levels). Prime95 shows a modest boost in temperatures of 3-4 degrees C, and was stable even for several hours. If I push it to 3.6Ghz at stock voltage the system is unstable. At 3.7Ghz (the 1700’s boost speed for single-threaded loads) it is stable only if I give it 1.3v. While that is a totally fine voltage (AMD recommends up to 1.35v for 24/7), the Wraith Spire cannot handle a Prime95 Small FFT load anymore. I shut down the test and reverted the OC when the CPU read 89c. Given the fact that the Spire was meant to cool a 65w chip (and so probably is rated at no more than 85-95w), this is not a terribly surprising temperature – I wish I knew if it was dangerous. I have no doubt that a 240mm radiator or even a decent tower cooler will be more than enough to cool down my 3.7Ghz R7-1700. I am a little jealous of the people who just set the multiplier to 3700 and are good to go – lower voltages probably mean the Spire would be enough. But for me, it was not to be. I was halfway tempted to see at what temperature the chip would reduce its clock speed, but I didn’t want to burn up a chip I had just bought – might as well wait until I get bigger and better cooling to OC it to the 3.8-3.9 I hope it will reach. Other than the OC temps it has been smooth sailing. Gaming feels more fluid than with the FX, even in games that I always thought were GPU-limited and/or running at 60fps with VSYNC on. Especially games that are sensitive to single-core performance (Heroes of the Storm is my latest addiction) there is a definite boost in 1% low and 0.1% low FPS. I have been using the Ryzen Balanced power plan from AMD and it seems to do a fantastic job keeping temps low when idle and letting the cores ramp up really fast when needed. I need to test whether the lack of core parking prevents it from hitting the 3.7Ghz boost as much as the regular Balanced plan allows. I think a simple CineBench single-thread comparison will do the trick. I also tried streaming a bit – and it was able to generate 1080p60fps at x264-medium settings without being noticeable while in game. Later I edited some video of my kids – the final render speed was SOOOO fast. I am, on the whole, very happy with my upgrade. I get better single-core performance, much much better multi-core performance, along with faster disk speeds, and a more modern platform (with RGB lighting, M.2, USB 3.1, etc…). Now if only I could find out appropriate temperatures…..
New people please read this. [upvote for visibility please]
I am seeing too many new people come and and getting confused. Litecoin wiki isn't the greatest when it comes to summing up things so I will try to do things as best as I can. I will attempt to explain from what I have learned and answer some questions. Hopefully people smarter than me will also chime in. I will keep this post updated as much as I can. Preface Litecoin is a type to electronic currency. It is just like Bitcoin but it there are differences. Difference explained here. If you are starting to mine now chances are that you have missed the Bitcoin mining train. If you really want your time and processing power to not go to waste you should mine LTC because the access to BTC from there is much easier. Mining. What is it? Let's get this straight. When making any financial commitment to this be prepared to do it with "throw away" money. Mining is all about the hashrate and is measured in KH/s (KiloHash/sec). Unlike the powerful ASICs (Application Specific Integrated Circuit) that are used to mine bitcoins using hashrates in the GH/s and even TH/s, litecoin mining has only been able to achieve at the very best MH/s. I think the highest I've seen is 130 MH/s so far. Which leads us to our next section. Mining Hardware While CPU mining is still a thing it is not as powerful as GPU mining. Your laptop might be able to get 1 a month. However, I encourage you to consult this list first. List of hardware comparison You will find the highest of processors can maybe pull 100 KH/s and if we put this into a litecoin mining calculator it doesn't give us much. Another reason why you don't want to mine with your CPU is pretty simple. You are going to destroy it. So this leaves us with GPUs. Over the past few months (and years) the HD 7950 has been the favourite because it drains less power and has a pretty good hashrate. But recently the introduction of the R9 290 (not the x) has changed the game a bit. People are getting 850 KH/s - 900 KH/s with that card. It's crazy. Should I mine? Honestly given the current difficulty you can make a solid rig for about $1100 with a hashrate of 1700 KH/s which would give you your investment back in about a month and a half. I am sure people out there can create something for much cheaper. Here is a good example of a setup as suggested by dystopiats PCPartPicker part list / Price breakdown by merchant / Benchmarks
Prices include shipping, taxes, and discounts when available.
Generated by PCPartPicker 2013-11-29 00:52 EST-0500
Estimated Hashrate (with GPU overclocking) : 1900 KH/s Hardware Fundamentals CPU - Do you need a powerful CPU? No but make sure it is a decent one. AMD CPUs are cheap to buy right now with tons of power. Feel free to use a Sempron or Celeron depending on what Motherboard you go with. RAM - Try to get at least 4 GB so as to not run into any trouble. Memory is cheap these days. I am saying 4 GB only because of Windoze. If you are plan to run this on Linux you can even get away with less memory. HDD Any good ol 7200 RPM hard drive will do. Make sure it is appropriate. No point in buying a 1TB hard drive. Since, this is a newbie's guide I assumed most won't know how to run linux, but incase you do you can get a USB flash drive and run linux from it thus removing the need for hard drive all toghether. (thanks dystopiats) GPU - Consult the list of hardware of hardware I posted above. Make sure you consider the KH/s/W ratio. To me the 290 is the best option but you can skimp down to 7950 if you like. PSU - THIS IS BLOODY IMPORTANT. Most modern GPUs are power hungry so please make sure you are well within the limits of your power consumption. MOTHERBOARD - Ok, so a pretty popular board right now is Gigabyte GA-990FXA-UD3 and the ASRock 970 Extreme4. Some people are even going for Gigabyte GA-990FXA-UD5 and even the mighty Gigabyte GA-990FXA-UD7 because it has more PCI-E slots. 6 to be exact. However you may not need that much. With risers you can get more shoved into less. PCI-E RISERS - These are called risers. They come in x16 to x16 and x1 to x16 connections. Here is the general rule of thumb. This is very important. Always get a POWERED riser otherwise you will burn a hole in your MoBo. A powered rise as a molex connector so that additional power from PSU can be supplied. When it comes to hardware I've provided the most basic knowledge you need. Also, take a look at cryptobader's website. This is very helpful. Please visit the mining section of Litecoin Forums and the litecoinmining subreddit for more indepth info. Mining Software Now that you have assembled your hardware now you need to get into a pool. But before you do that you need a mining software. There are many different ones but the one that is most popular is cgminer. Download it and make sure you read the README. It is a very robust piece of software. Please read this if you want to know more. (thanks BalzOnYer4Head) Mining Pools Now that your hardware and software is ready. I know nothing about solo mining other than the fact that you have to be very lucky and respectable amount of hashing power to decrypt a block. So it is better to join pools. I have been pool hopping for a bit and really liked give-me-coin previously known to the community as give-me-ltc. They have a nice mobile app and 0% pool fees. This is really a personal preference. Take a look at this list and try some yourself. How do I connect to a pool? Most pools will give you a tutorial on how to but the basics are as follows:
Signup for a pool
Create a worker for your account. Usually one worker per rig (Yes people have multiple rigs) is generally a good idea.
Create a .run file. Open up notepad and type cgminer.exe -o (address_to_the_miningpool:port_number) -u (yourusername.workername) -p (your_worker_password_if_you_made_one). Then File>Save As>runcgminer.run (Make sure the drop down is set to "All Files" and .txt document.) and save in the same folder as cgminer. That's it.
Double click on runcgminer.run (or whatever you named it) and have fun mining.
Mining Profitability This game is not easy. If it was, practically everyone would be doing it. This is strictly a numbers game and there are calculations available that can help you determine your risk on your investments. 4 variables you need to consider when you are starting to mine: Hardware cost: The cost of your physical hardware to run this whole operation. Power: Measured in $/KwH is also known as the operating cost. Difficulty rate: To put it in layman's terms the increase in difficulty is inversely proportional to amount of coin you can mine. The harder the difficulty the harder it is to mine coin. Right now difficulty is rising at about 18% per 3 days. This can and will change since all you miners are soon going to jump on the band wagon. Your sanity: I am not going to tell you to keep calm and chive on because quiet frankly that is stupid. What I will tell you not to get too carried away. You will pull you hair out. Seriously. Next thing you will need is a simple tool. A mining profitability calculator. I have two favourite ones. coinwarz I like this one cause it is simple. The fields are self explanatory. Try it. bitcoinwisdom I like this one because it is a more real life scenario calculator and more complicated one (not really). It also takes increasing difficulty into account. Please note: This is the absolute basic info you need. If you have more questions feel free to ask and or google it! More Below.
Catch the full episode: https://www.wealthformula.com/podcast/172-ask-buck/ Buck: Welcome back to the show everyone we have a number of questions today on Ask Buck so I am gonna get with it right away the first question is from Beau Cannington. He’s a member of Investor Club and Wealth Formula Network. Here's his question. Beau Cannington: How much of a negative impact do you think that a rising interest rate environment will have on our commercial real estate investments and specifically the syndication investments with Western Wealth Capital? Thank you very much. Buck: So Beau good question especially on paper right makes a lot of sense that potentially rising rates could be problematic for multifamily real estate or really for any kind of real estate. But let's go back to basics first because I think it's important, a lot of people don't have a good enough understanding of this in the first place which is when does leverage help you in the first place when does it help to borrow money from the bank? Well leverage only really helps you if you're borrowing at a rate that is less than your effective cap rate and what I mean by effective cap rate is you know you're gonna constantly drive net operating income into a property if you're increasing value of the property if you're in a value-add situation. That's what we do in the Western Wealth Capital opportunities that you're talking about. But that rate at which you borrow has to constantly and always be above your effective cap rate otherwise it's gonna hurt you. All leverage does is to simply amplify the directionality of your profit or losses. So just like it makes you profit more if your effective cap rate is greater than your interest rate, if that you know that income drops to a point where now your cap rate is actually below the interest rate, it's gonna magnify your losses. So that's at a very basic level hopefully that makes sense if it doesn't real issen to it because it's critically important and for some reason you know a lot of people don't pay attention to that especially people who are just getting into real estate for the first time it's really important. Now let's talk about the idea of interest rates themselves I mean the one that most people are familiar with is the one that's on the news all the time. It's a Fed Funds rate you know people call benchmark rate whatever. It's the one that's set by the Federal Reserve and the way I think about the Fed Funds rate is that it's an indicator for whether or not the economy is healthy it's it's sort of a barometer when the rates are getting hiked the economy is in pretty good shape and the Fed is trying to prevent it from getting too hot and to you know potentially prevent inflation. On the other side when the you know Fed lowers rates, like it just did by the way, it signals some level of concern about the economy it you know suggests that maybe there's some deflationary activity going and suggest that there's some recessionary activity going on. You know ultimately the Fed rate is you know it's set by the Fed and it's it's a tool of monetary stimulus to try to control inflation and ultimately mitigate recessionary cycles so it's a way for the Fed to control the economy you know it's one of the ways that they try to control the economy one of the monetary pulse. Now the Fed Funds rate does not equate to mortgage rates I I hear a lot of people you know like on social media and stuff talking about had funds rate goes the perfect time for me to go shopper shop a loan or something like that and well you should know a little bit more than that if you're in the business of real estate and taking loans out but you know I mean I'm seeing like syndicators do that. The Fed fund rate really affects short-term and variable adjusted rates really it's really an indication of what's going on right now in this economy in the very short term. And mortgage rates of course then are far more complex mortgage rates reflect sort of a longer-term health of the economy and they're probably there's a lot that goes into them but probably the thing that you need to watch the most is the ten-year Treasury which is much more a reflection of you know the long-term rates what the market thinks to the markets gonna be in the future right so if there is a belief that there is you know inflation on the horizon you probably see those rates start to rise. Inflation tends to rise when the economy's you know hot so anyway now again so what you should be looking at is the 10-year Treasury now I'm giving you a little bit of background rather than just answering Beau’s question initially but the good news right now is that the Fed fund rate was actually cut so it's actually not going up anyway so we don't need to worry about that right now but what we we also had a big dip in the tenured Treasury so our mortgage rates are very favorable right now as well now that's interesting because that happened before the Fed cut rates you know we recently closed on something within our Investor Club and got really good rates and that was before the that was because the treasury took a dive before it took a dive right before you know the hope this whole thing in the last week or so couple weeks where there's actually a Fed rate. But let's move back again and you know to Beau’s question. Say mortgage rates were going up what would that mean and how would that affect our investments? Now presumably that would be a suggestion that the 10-year Treasury as we talked about was going up which would also be suggestive of an inflationary environment. Now here's where it's really helpful to be invested in real estate like multifamily real estate which is of course my sweet spot. Inflation also means that we raise rents more right so in other words as rates go up so to our rent. So the ten-year Treasury is reflective of inflation when we and so the rates go up but so do rents proportionally and so theoretically we should be in good shape and not worry about it too much because it's really just an adjustment for inflation if you think about it that way. Bottom line is for me personally I don't worry too much about rates when it comes to our Wealth Formula accredited investor opportunities that we're doing and one of the reasons for that is we are incredibly aggressive about value add. So we're constantly in decompression mode as well and we're you know we're locked in to some good rates here too so. Now in addition if you look at the speed at which you know some of these companies work like Western Wealth Capitals the one you mentioned and they're forcing equity into these assets like you know incredibly fast so you're in a dynamic mode of decompressing cap rates in real time and that effectively again de-leverages the asset altogether. So if you found that confusing, listen to it again. But bottom line is if you take nothing else away from this I would tell you that interest rates in general mortgage rates will reflect inflation. So if inflation is going up rates are gonna go up and vice versa and so they tend to cancel each other out don't worry about it that's what I would tell you. If anything rates going down might be potentially more of a concern simply because that's a much more of an indication of an economy that's not healthy. Now we're doing you know BC classed multifamily I still think we're positioned very well so again I don't worry about it too much. Okay let's see next question from Chris Odegard another Investor Club guy and also another Wealth Formula Network guy so Chris here you go. Chris Odegard: Hey Buck. Chris Odegard here in Kent Washington. My question relates to asset classes. If I remember correctly from Tom Wheelwright he talks about four asset classes: paper or commodities, real assets, real estate real assets aka real estate and businesses. So I believe that you know if I'm a shareholder in coca-cola that's paper but I'm also a private shareholder in a number of small start-up businesses so because my ownership of private shares and small businesses constitute a paper asset or a business asset? And if that's still a paper asset you know what makes you a have what makes you have an investment in business since most of the time you know if you're an owner or part owner of a small non publicly traded business it's usually their share so anyway I'm kind of struggling with the distinction between paper and a business asset classification so appreciate your help on that. Thanks. Buck: So Chris I thinkx first of all let's back up and just say you know the reality is that these are you know these are just definitions right and there's a gray area between them and we can use them to guide us a little bit as we appropriate things into the right quote-unquote basket but you know we shouldn't get hung up on them too much but let's go back and review the definitions right so what are what are paper assets. So well let's talk about what real assets are so real assets are physical assets right and the thing that they are known for is that they have intrinsic worth due to their substance and property so precious metals commodities real estate land equipment natural resources these all have some kind of intrinsic value to them whereas paper assets would be assets where ownership’s defined only by paper like as you mentioned stocks and currencies and bonds and things like that. The reality is that in in some cases like you're talking about the definitions might not be as useful it might be a better idea to simply ask yourself in a sort of a common-sense way well what is it that I actually own? You know if you own businesses that are not asset heavy lots of you know and what I mean by assets heavy is like you know lots of machinery, stuff that you could liquidate, it's probably fair to put it in the you know the paper side of things. On the other hand if you have a business that as a significant balance sheet of stuff that could be liquidated you might actually put it in you know the real asset bucket. But I will tell you in knowing yours what you're talking about you invest in a lot of startups I would say that I personally would probably never consider an investment limited partner investment in a start-up as a real asset I mean I think the bottom line is that most of those businesses are not going to have a significant amount of equity or collateral to back your debt so there's not a lot to liquidate there's not a lot of intrinsic value in those businesses other than their ability to produce income. So that's where I would put that. Now what gives real estate and precious metals let's go back to that real status well it's ultimately again their inherent value. that it can't really be erased the way a stock price can go to zero. Or frankly if you talk about businesses what happens if the business that you're invested in Chris what if that goes to zero right? If there's no profit if there's no nothing to distribute etc it's not worth anything anymore right so that that to me is probably the biggest thing to distinguish. Although I should bring up I keep thinking about this as we're talking that you know I was listening to the Peter Schiff they still like to listen to I think he's a smart guy just you know he's a little stubborn and he's always thinking the this guy is falling which I don't I don't agree with him but you know he's on this big rampage against Bitcoin and he's been debating all these people about gold versus Bitcoin which I actually think it's kind of a silly debate because I think the gold and Bitcoin people should sort of you know be on the same side but I think you know it might be in part because Peter sells gold and it's a good opportunity to get in front of people, but one of his arguments about gold is that the reason that it has value is that it has intrinsic properties and those intrinsic properties are that it can be used you know to melt down and make stuff and I think there's true but the problem with this argument there in my opinion is that seriously for those of you who are out there like owning gold have you've owned a few ounces of gold and you store it somewhere are you seriously owning it because you know because you might be able to use it sometime or because somebody might be able to use it or are you using it because somebody thinks it has a value? I would argue that the reason you own it in most cases unless you're like a big jewelry buff or whatever is because somebody because you or you want somebody else to you know at some point pay you more for that then what you bought it for so in that respect it's not a whole lot different from like Bitcoin right like you know people the value of gold it has to do with the fact that it also has a monetary value it's really seen that way if you took that out of it and all of it was just a matter of it being jewelry it would not be worth as much as it is but anyway that's my take on that a little unrelated but I thought I would throw in that commentary. Next question let's see is from Ramin Rafie here we go. Ramin Rafie: Hi Buck. I'm a physician general practitioner. I've been out of residency for about decade now. I have been an employed physician working for a larger corporation making house calls and a hospice director for their large healthcare organization which actually has recently been bought by an insurance company, that's a whole nother story. I actually went to medical school in California. And I've always wondered if it's feasible for me to open up my own kind of practice I don't know enough about the tax structures reimbursement etc, etc. I understand insurances are a big problem and you have to hire a lot of staff that's a waste of resources to strike to insurances but I was debating if solo practitioner doable perhaps direct primary care and if so is one better off just doing a cash face back to this and the legal structure of either having an LLC or an S corp or C Corp I don't know if you can operate on that that's gonna be I guess I need to talk to it accounts it's about that I figured I'd ask you and you might know you might not but I enjoy listening to your podcast it's amazing how many physicians up there are in the same boat. Thanks great time. Buck: Alright so we do have a lot of physician listeners non-physicians to probably about in case you're wondering it's probably about but not just physicians but health care people right so you know physicians dentists and you know you know high doctors and you know all sorts of stuff, chiropractors and that's probably because well I've had a healthcare background myself on doing a few different kinds of surgery and stuff like that but thanks for the question. I'm gonna try to I mean there's a lot there and I think honestly the truth of the matter is I'm not necessarily an expert on all of these issues but you know some of the things I can answer I think will be relative relatively useful to anybody who's thinking about going on their own. First of all I'd say that if you're starting your own thing you know it an LLC is generally going to always be the best structure for a small business for maximum flexibility you can take, if for some reason you want to be taxed as a c-corp you could where you do an S selection so that's pretty easy. The answer your question of you know can you do it the answer is absolutely yes. There are solo practitioners out there now and you can do it and you could probably do it better and that's always generally been my philosophy when starting businesses usually I don't start businesses I'm you know I don't start businesses that have not in some way shape or form shown that they can be a success, I usually rip off somebody's idea and then pivot a little bit add a little bit something and executed and so I think to the extent that there are plenty of sole practitioners out there in California still I think it absolutely can be done. You know so your question about cash versus insurance based medicine just keeping it brief I'll tell you that it's not really an expertise of mine but by but what I can tell you is that coming out of the door with any business if it's just a cash business you're gonna have to advertise like crazy and you're gonna have to run it like a business which not everybody is ready for so the nice thing for physicians and dentists sometimes is that you know if you do take third party payers like you know these insurance companies they drive patients to your door so especially in the area of primary care there's a shortage so I don't think you'd have any trouble if you took insurance getting filled up really quickly and succeeding. Now as far as advice on how to move forward in general first you know again in this applies anybody who's starting a business and anything in my opinion, first of all finding somebody who's doing what you you know you want to do in another market and kind of copy them if you can reach out to them even better if they're not in a competing market but find in you’re case find a you know solo practitioner market that's similar to what you're trying to do and is showing a success and you know see if they're willing to spend some time with you I would offer to pay them because everybody's helpful until it's like damn I'm busy and this guy wants me to help him. But I think if you say hey now you get a successful thing there I'm looking for some help and you know looking for some consulting from a successful practice it might be useful. Another option of course is to go straight to a consultant and again this applies to every business in my opinion. Of course there's a lot of you know consultants out there. I had one for my first practice ultimately it was a cosmetic surgery business and again I ran this thing not like a medical thing, I didn't take any third-party insurance and stuff but I marketed like crazy I knew nothing about running a business or marketing when I started this the business I set out to start ended up looking nothing like the one I ended up with. What I ended up with was a lot better because I learned a lot on the job. But a lot of the back end things whether it's medical whether it's you know any kind of business or the same right I mean you've got to figure out how do you pay bills how do you set up all the systems accounting payroll and that for me where the consulting was like a really useful thing and I'm you know at the time I think I must have paid like twenty five thirty thousand dollars for and it seemed really expensive but I can tell you in any start-up situation you are much better off spending some money up front with someone holding your hand getting you started quickly and you know I have been you know. I literally have friends I have a couple of friends who've been trying to start up their own practices from multiple years now they could have been up and running in like three months if they just had paid somebody to get it done. So don't be that person you know anyway that's a message for everyone really if you have a problem, now remember this if you have a problem that you can write a check to someone to fix, you don't have a problem right? So that's the way you deal with this stuff don't spend all your time trying to deal with stupid little problems think of yourself as a you know is a thoroughbred right I mean you save yourself for you know high-value tasks. If you mess around and try to do everything yourself you're gonna end up worse I pretty much guarantee it, that goes for anyone starting any kind of business for the first time. So finally I would just say that I don't know a single I don't know a single health care provider in particular I know there's a lot of you out there with your own practice that once you have your own thing would ever go back to working for someone else or who'd ever want to go back for working for someone else, I know some of you have done it after you've sold your practice which is different you sitting on a huge chunk of cash but if you have any sort of entrepreneurial spirit and like the idea of not having limits on the upper end I would highly encourage it. All right so hopefully that's helpful and you know it's broadly I think it's broadly applicable to a lot of people who have ever contemplated any kind of entrepreneurial activities. So let's see the last one that's an actual voice one so let's do that from Ravi. Ravi Ghanta: Hi buck this is Ravi Ghanta I just wanted to say thank you for all of your hard work and for providing such valuable information to this community. As part of the investor I've gained so much knowledge from you as well as from your guests on your podcast. Unfortunately I have not been able to attend the Meetup and I won't be able to go to the next meetup in Dallas in September, however I was wondering if you would consider creating a directory of some sort where those who are willing to provide their name their mailing address email address or even phone number to create a community where we can interact with each other you know perhaps by having this information we can even meet up with each other in different places informally, we can also discuss things you know we may all many of us are in the medical field and other specialties or other aspects of business and crafts developing contacts in that way just a thought. But once again thank you for your insightful information and I look forward to continuing to work with you. Thank you. Buck: All right thanks Ravi. Ravi again is a member of the investor group now I don't think Ravi's part of Wealth Formula Network and that could be part of the confusion or not confusion but part of the question you answer the question which is, is there community that you could join or have you know or have some additional contact. The first thing I'm going to tell you there is that's really what Wealth Formula Network was really all about. So Wealth Formula Network is the online private community we have you know a very strong community there are a lot of people who are really just interested in connecting with one another it is of course that started out with the course and the course was with you know with Tom Wheelwright, Ken McElroy real estate guys bunch of guys I know sort of us gives you the bases gives you the foundation for things that we talk about and then we have these bi-weekly phone calls these bi-weekly phone calls are very useful they're not just phone calls they're zoom phone calls zoom video so we can see each other it's very personal and we have very in-depth conversation, people who are on in well formula Network often create relationships off line off community and that's certainly an option for you. In terms of online communities I would say that I probably wouldn't do anything else and the reason being that anytime you preside over an online community you kind of have to keep an eye on it and I I have well formula Network and that's really all I really want to focus in on I don't really want to you know monitor other sites. As far as you know people putting their information out and stuff I don't necessarily have a problem with that the thing that I worry about is if it's anywhere that people can access, I worry about your privacy because you know we have an extremely robust audience here including you know an accredited investor list of over a thousand people and if there's some like you know advisors registered advisors or you know people who are trying to get to those people they will spam you like crazy if they ever got a hold of that. But Ravi let me think about it because there could be a way to do you know to what you're talking about to a certain extent you know we certainly like I said we certainly already do this kind of thing and within Wealth Formula Network if that's of interest you check it out WealthFormulaRoadmap.com I think you'd probably really enjoy that if you enjoy the show. So all right I don't have any more video I don't have any recorded questions I have a couple of written ones I'm going to get to those the first one says is from Robert McLeod. He says I've been listening your podcast for the last couple years now I know you're a huge proponent of investing in real estate assets especially multifamily but I can't remember you've ever discussed mobile homes. I was wondering if you've looked into investing in or thought of mobile home park space. Thanks for the informative podcast. So it's a sensitive thing because I know there's a lot of people were interested in that people listen to this and friends of mine who are involved in this but you ask I'll answer. To be honest I'm not a big fan of that space right now here's why the cap rates on these things are approaching multifamily real estate right multifamily can always be improved significantly and attract higher level tenants and then areas get gentrified, they get improved I mean there's some improvement ability in mobile home parks right but it's really capped I mean think about it at some point you don't want to live in a damn mobile home anymore right. so here's a good example of you know how multifamily doesn't really have on that cap Chicago Lincoln Park is one of the like fanciest parts of Chicago's really expensive jam-packed full of mansions and stuff now, but there's also a bunch of apartment buildings that are over a hundred years old and you know forty years ago Lincoln Park was an absolute dump and it was dangerous and no one wanted to live there and then it got gentrified and all these places that were probably low income housing are now these incredibly luxurious apartments have been upgraded like crazy and now they are you know now they're multi-million dollar asset selling at ridiculous cap rates. Now tell me how do you do that with a mobile home community? You can't right. So at some point if people are doing well they want to move out of a mobile home park so you can't keep raising rents and expect people to live there so that's one reason so now so if you're capped on an appreciation of rents it's gonna cap your equity upside so now the syndicators out there that I'm seeing especially on the limited partners side are giving returns that frankly are inferior to what we're getting in multifamily an investor club by a longshot I know some of you like this area but I don't and I sure as hell would never invest in a limited partnership like this for returns that are less than double-digit again that's just me though. So finally let me just say this, my philosophy right now in general, buy quality assets don't buy crap okay. I see people posting stuff on Facebook about single family you know Class C Class D homes they bought we're supposed to cash flow like crazy and they you know all they have is problems now you know the idea is that these things might look good on numbers but when you add in the capex and paying for damages and you tenants I mean you may not cash flow at all people are losing money on this stuff left and right so there's a reason why these numbers look so good on paper because they're not good investments and people are trying to sell you them so bottom line is I'm not saying that mobile home parks are you know bad for everyone. I'm just saying that I personally look at the alternative and the alternatives from me are better. I prefer to focus on high quality assets and markets that are growing quickly right. I mean to me I mean it may be boring and repetitive what I do but I can tell you from personal experience it works and I think chasing yield in the idea of going to lower quality assets are going to tertiary markets is a very very bad idea because those are the markets those are the areas in my view that are going to suffer the most if and when there's a significant recessionary activity or market turnaround so hopefully that answers that. Next question Mark Dvorak. Hello can you talk about on your podcast about real estate professional? I feel like it's the ultimate green card to play in real estate as passive losses are you limited? Everyone only talks about this powerful designation briefly. Like the 750 hour rule, can two people count towards those? What are the max deductions and then he says for LP is what are the max deductions one can get without being a real estate professional, a show detailing all these options. Well let me just be brief about this, the reason people are briefed about it is because for the most part there the definition of real estate professional is this ok 750 hours of documented actual work in real estate like not just being a limited partner but you know looking for real estate acquiring you know talking to people whatever you got to have that 750 hours per year and it can't be two people no it has to be one person and you can't have anything that you're doing more of so it's not I've heard some people say they're gonna try to do it with a full-time job I just don't recommend it I think the IRS is gonna not take you seriously in that situation but you know you could try. In that situation of course the losses there's no cap to your losses. The beauty of it is what what you're talking about is say you have a spouse who has a W2 income that's active income but as you as a professional real estate professional all of the passive losses that you generate through depreciation where most people who are not real estate investors can only offset those against passive investments, you can offset that against active active income because your losses as a real estate professional your what would be passive loss has become activated. So if you've got $100,000 loss from real estate depreciation you could offset you know your hundred thousand dollars of your Weiss active income because you're filing jointly right. So that's that's the Holy Grail you're right I think it's a big deal and so but that's really all there is to it. I mean you have to find a CPA who can guide you on this you know I would recommend you know for somebody from WealthAbility and pretty much anybody there's gonna tell you all the right rules but really the issue with the that is you got to find a CPA who's going to tell you how to do it and then stand by you in in the event of an audit. An audit not it's not a bad you know it's not the end of the world it happens anybody's making money you gotta have somebody who is actually you know going to defend that successfully. So anyway that's it in terms of the caps about you know being a limited partner and what are some of the maximum deductions you can get without being a real estate professional the honest truth is that I don't I don't know that there's any really maximum deductions for real estate I mean listen if you have a hundred thousand dollars or two hundred thousand or a million dollars of passive income and you have those losses you have passive losses out of the same amount you could deduct it all so there's no cap at all. I mean the only thing I think there's a cap on I think charitable giving is about fifty percent you know charitable giving fifty percent but you know and then and then there's all your typical things that I don't you know I don't really get into about you know the basic accounting deductions and things like that for other things but I'll tell you from the standpoint of real estate there really is no cap on deductions, it's just you know it's what you have whatever if you're in the passive column as is a non real estate professional you could deduct all that and then the active side you could deduct all of your depreciation against all of your income. So that's pretty straightforward. Okay last question and it's from Betty and she said Buck I heard you talking about a bad drug reaction you had a Minneapolis. What was the drug that gave you the bad reaction yeah so let me let me tell you about that I am those last show I talked about that was my near-death experience thing where I thought I was gonna die, listen to this show you'll get the whole story but bottom line is as it turned out it was a CBD tincture. And I took some CBD for my back in in Santa Barbara and it worked really well for me and then I don't know what was in this bottle that I bought but it just gave me some sort of crazy out-of-body experience and I'm it wasn't like being stoned okay I I've been to college I know what that feels like was something was very wrong, anyway it was the CBD it's a long story. Bottom line is if you are interested in that story and how what I came about listened to show where I talk about this in the last show I think it's probably last week according where this is and you will you'll hear about that. By the way, I'll say that you know riffing off that last show I'm looking again those vintage cars to things that mattered the most of lessons that I had there were to make sure to take care of your family so look at Wealth Formula Banking make sure you you know get into that and and and try to you know align your investments with legacy to a certain extent that's one of my takeaways the other one was to try to have a little bit of fun here and and don't always push it away into delayed gratification. Okay that's it for the questions today and we will be right back.
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