Any Ideas? Yes. Don't devalue your wedding with stupid gimmicks. Agreed. Are you in the UK? Get a wedding list with John Lewis like every decent married couple who need tea cups and saucers and towels. |
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I'm using noob-friendly Bitminter on a Mac -- one USB as an experiment -- and getting 0.0087 BTC / 24h.
Thats about dead on. Will take years for ROI. But oh well. Yea, it's really an exercise more than anything else, while awaiting the BFL order to arrive. |
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But it's a serious question: what would -- at present difficulty level -- be a reasonable minimal level of hashing power, to make solo mining viable?
Comes down to how long are you willing to wait between finding blocks. I'd think that a block every 2 days would be what you want, that is 0.0035% of the network, at 197Th now, about 680Gh. Interesting -- so if someone has two BFL minirigs it could be worth it. |
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12hU7KogV11Kxt7E3EwyUbSzMT5MptSxsz
cheers!
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But it's a serious question: what would -- at present difficulty level -- be a reasonable minimal level of hashing power, to make solo mining viable?
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They militarised the Internet quite few years back (after the 3 planes-4 buildings attack) ... militarisation of 'social' media is a more recent phenomena, but more disturbing imho.
What the hell do you mean by "they militarized the internet" -- the "internet" STARTED as as a military project. ARPANET was a US Defense department project of a network of trusted US universities and national research labs. It was Senator Albert Gore Jr. who managed to pass the 'High Performance Computing Act' (the "Gore Bill) in 1991 (and signed into law by Bush Senior), which opened up this technology to private actors. Only then did the internet take off. It was a state-made invention that later became an economic and social success in private hands. Similarly, the TOR-network started as a defense project that was later privatized. |
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Check your facts people: China'a average monthly salary, depending on he province, ranges from $730 in Beijing to about half that in Gansu. But averages are not relevant here. The country has lifted over 400 million people out of poverty in the last 30 years, and there is a big new middle class now with purchasing power. In addition, super rich business leaders and the economic elite -- largely children of the political elite -- number in the thousands.
There's also plenty of potential for mining on a large scale -- with lots of kids in bedrooms turning small hashin power to work on a large scale.
But finally -- he real reason bitcoin is likely to take off there is that the Chinese government doesn't allow Chinese to move their money abroad. Bitcoin is a release of this restriction. Once Chinese bitcoin trading sites take off properly -- you can be pretty sure there will be another price explosion.
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All this is such BS -- Snowden in a non-martyr for a pseudo-cause.
How can he claim to be a libertarian if he flees the freest country in the world and seeks refuge with dictatorships -- hopping from China, Russia (who all happily plundered the contents of his laptops), via Cuba to Equador? What free country did he flee? He's looking to get to Equador. Apparently Wikileaks people arranged that for him. It's always good to have a dictator to buddy buddy with. |
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I think yes -- the price will hover around $100 for a little bit longer -- and it is very likely that there will be a gradual appreciation in the coming year; and there are also odds of an explosion or bull run again.
Gradual: with the rise of Asic mining, the size network and difficulty will increase dramatically in the coming year -- and indirectly, this affects what people are willing to invest in it. The more resources are marshalled into creating bitcoins, the more valuable they are perceived to be, and therefore, will be.
Sudden: There's a few factors that may cause another explosive price increase -- but it's hard to predict when these will happen.
Crisis: As happened earlier this year -- economic crisis in Cypus, Spain, Argentina, Russia -- and then investors jumping the bandwagon -- drove the price up dramatically. It later dropped off and stabilized at the current level. Another crisis, hard to predict, can cause a similar jump and extreme volatility.
Paypal: The CEO of Paypal has said several times that he is personally fascinated by bitcoin -- and has studied it very closely. He also said that they have not decided whether to incorporate bitcoin Yet. Once they do, then bitcoin will be firmly in the mainstream, available in Paypal and EBay -- and the price will jump.
China: Once the Chinese get on board in large numbers -- the price will be unstoppable.
So yes -- gradual increase will definitely happen; and sudden increases by these other three factors will also happen in my view -- although they can't be predicted when.
So... hoarding is not a bad thing. That's what we're all doing here anyway.
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All this is such BS -- Snowden in a non-martyr for a pseudo-cause.
How can he claim to be a libertarian if he flees the freest country in the world and seeks refuge with dictatorships -- hopping from China, Russia (who all happily plundered the contents of his laptops), via Cuba to Equador?
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Here is a patent by Ohta and Okamoto from 1990: http://www.google.co.uk/patents?hl=en&lr=&vid=USPAT4977595&id=AqAkAAAAEBAJ&oi=fnd&dq=electronic+cash&printsec=abstract#v=onepage&q=electronic%20cash&f=false"Publication number US4977595 A Publication type Grant Application number 07/500,555 Publication date 11 Dec 1990 Filing date 28 Mar 1990 Priority date 3 Apr 1989 Also published as CA2013368A1, 6 More » Inventors Kazuo Ohta, Tatsuaki Okamoto Method and apparatus for implementing electronic cash US 4977595 A ABSTRACT In an electronic cash implementing method, a user makes a bank apply a blind signature to user information Vi produced, by a one-way function, from secret information Si containing identification information, thereby obtaining signed user information. Further, the user makes the bank apply a blind signature to information containing authentication information Xi produced, by a one-way function, from random information Ri, thereby obtaining signed authentication information. The user uses an information group containing the signed user information, the signed authentication information, the user information and the authentication information, as electronic cash for payment to a shop. The shop verifies the validity of the signed user information and the signed authentication information, and produces and sends to the user an inquiry. In response to the inquiry the user produces a response Yi by using secret information and random information and sends it to the shop. Having verified the validity of the response the shop accepts the electronic cash." |
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Here's a paper by Okamoto and Ohta, first published in 1992 Advances in Cryptology — CRYPTO ’91 Lecture Notes in Computer Science Volume 576, 1992, pp 324-337 Universal Electronic Cash Tatsuaki Okamoto, Kazuo Ohta http://pdf.aminer.org/000/120/358/universal_electronic_cash.pdfIt would make sense that Satoshi Nakamoto is Okamoto or both Okamoto and Ohta, if they had been thinking about the problem and challenge of making an electronic cash system for nearly two decades before they produced bitcoin. |
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The maximum bets are very very small -- this makes a Martingale strategy impossible.
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I'm using noob-friendly Bitminter on a Mac -- one USB as an experiment -- and getting 0.0087 BTC / 24h.
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Scammers always play on pity -- and it's what all sociopaths do. First step is always to make you pity them.
Lesson learnt.
I know $115 bucks is a lot for an 18 year old, but you'll make it back. No reason you can't be in the game.
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Also in London -- will be happy to follow this development. Please keep me posted.
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Is there any logical explanation why would ASICMINER reduce it's hashing power so drastically? Getting DDOS'ed? Bitminter has been going down and up a few times in the past week. |
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