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Since most of the Bitcoin income from mining comes during the first 3 difficulties, that 10 days of mining difference can be all that matters for profit vs loss. If the difficulty jump is minimal it's not an advantage, if the difficulty jumps 25% the earlier mine wins.
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Moore's law is approaching it's end. We won't keep seeing leaps in transistor reduction. Switching to graphene or some other exotic manufacturing might be the future.
But for what seems an eternity in the Bitcoin world, the next 1-2 years will still see more efficient miners released.
Agreed. Seriously doubt asic miniaturization will slow down within the next 18-24 months, then after that I suspect we will see a slew of optimization techniques that carry this trend on for another 6-12 months easy. Of course, all of this is largely contingent upon the bitcoin price continuing it's upward trend. I believe ALToids was saying the opposite of what you're saying. CPUs have pretty much reached a wall. ASICs for Bitcoin still have an efficient jump to 20nm, but 14nm will be cost prohibitive because all the foundries will have other orders. This won't be for another year - which in Bitcoin terms is like 25 years from now. |
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Electricity is not really a major issue even to this day although it is becoming more important.
The number one cost in mining is still the hardware. 20K would only buy you 20TH/s currently assuming you already has the space, power, and cooling. You would most likely lose money.
Unless you can compete with the manufacturer's farms, you probably can't make a profit. That means you would need to be spending in the 7 digit range, like 1,000,000+ USD to compete for profit reliably.
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True. It's almost not even for altcoin mining.
I have a fun question though..
If you mine just with your regular quad core cpu, for two hours per day, which are your chances of finding a block?
Are these chances less than buying the cheapest lottery ticket of a normal national lottery?
(Let's say a lottery where you guess 5 out of 50 numbers)
It's usually called "the fools tax" lol.
Yup, the chances are significantly less if you run with your CPU. As you are running it only two hours per day, don't even think about getting a share. If you are solo mining which is what we are talking about, you'll be looking for difficulty 1 shares. You will stil easily find difficulty 1 shares on a CPU. But the chance of a difficulty 1 share solving the block is less than being stuck by lightning while sitting inside your house. |
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The actual solution would be to deny new connections once it has reached the limit it wants to. That way, there is no new hashpower. Their current policy is to send out messages and warnings, but that is useless.
Another option is to disconnect all miners, and only the ones that reconnect quickest will be able to stay. They can also increase fees to reduce hashrate.
This is probably the best solution. We ask end users to control themselves and this of keeping the network distributed. If they fail to do so then it is up to the pool op to see a workaround (assuming ghash.io truly doesn't want to see 51%). Don't allow any new connections. Other coins already do this when they get above 35% on some pools, this should have been implemented some time ago. |
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Please see this thread for the same topic postings: https://bitcointalk.org/index.php?topic=507157.0The Pacific Northwest US has the cheapest power in the US - if you're near a hydro dam and buy in bulk you can get under 2 cents per KWH. The Pacific Southwest US has the most expensive power in the US - my home rate from Southern California Edison is $0.35 KWH for tier 4 which I hit even without mining nor an electric range or car. |
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Well I ran into a problem last night and am working with Poloniex on trying to find out the issue. I sent an XMR payment of 1.0 XMR (including 0.001 fee) and I included the required payment ID. Poloniex says it didn't arrive in their wallet and on the blockchain there in no payment ID. This is my transaction has: http://monerochain.info/tx/ee635cbdbcaa1634867cdc6bd63003f9ef08032b106e11d8fd40c09d10561f18Here is a screenshot showing the send:  Any ideas what is going on? I manually reduced the default fee from 0.005 to 0.001 and was just curious to see what would happen - did that mess something up? |
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Q: How much GHs should I have? A: As many as possible :p Basically the more you have the better but truth is unless you've been mining for sometime or are extremely lucky your more than likely better off simply investing that money in bitcoin and holding it till it goes up.  That is assuming you can get more for the same price. If you're running in the red, then running more hashrate in the red only deepens the hole that you're digging. Right now pretty much every miner sans maybe an S3 is a money sink. |
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AMD because they have far better cost vs benefit
cost vs benefit? The only benefit I can see form a CPU is computer power, and Intel is currently leading in raw crunching performance per $ and performance per watt. I still have some old Athlons and can still see the place where I did the pencil trick. Ahh the good old days. Much better than when my Cryix rig and my AMD k5 blew up. |
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33 baby, 33.
for guessing my age, u win 1 1/2th prize: 0.0188 btc (currently worth $11.77) what a champ thanks for being my friend  Anything for you baby! 12obXAFqn4PBuXq1Bomrw1Wr8GxReVAGsh Call me lol  |
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Banned since the username word "rasta" reminds me to smoke cannabis. Banned for being a noob. I don't like noobs, I don't like people without a picture and I don't like people without a decent signature. Banned for using the word noobs. band for still being alive Banned for not following the rules (no harassment) and going out of order. |
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You could try using foam overlay - depends on how hot it gets. Money is not an issue for HM chairs - I just find for me they're not any better than the tempur-pedics that I got.
Artforz LOL. That guy could have bought Jobs boat and a couple of Gulfstreams to top it off.
He has to have made a 2nd account since he's been silent since the run last year.
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I am just selling my current stuff.
I'm probably going to either buy a new s3 or something to put in my office (although I pay the electric there so... lol) or wherever I can, because not having a miner running is just depressing lol.
See that's where those obsolete block erupters come in. They can be had for free or near free and still can spit out stats on CGMiner. Set difficulty low and CGMiner will have shares flipping by, just don't pay attention to your pool balance and instead enjoy the double digit electric bills (rather than 4 digit). I envy anyone with double digit bill lol. Last time I had double digit was a apartment with locked in electricity cost. I manage to do it here in Southern California Edison territory with $0.35. I have every house light off at night sans 1 small LED downstairs and 1 upstairs in the bathroom which kicks onto full when there is motion. If I need more light I turn on my reading lamp with is a 4W LED (replaced halogen). I don't run the AC even though it's 81F in the house at night. I use a laptop that pulls 21W at the wall for surfing. I have minimal electronics plugged in to avoid standby drain. Yeah it's annoying as hell, but I'm saving for other things. And I hate the utility companies so much that I refuse to enhance their profits. |
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Fluoride is not akin to what lead was in Rome. Risk vs Benefit. Even oxygen is dangerous to humans - you going to shut down aerobic metabolism now and stop breathing? Poor oral health from cavities will lead to septic emboli running through your bloodstream - you'll have strokes starting from age 30. Only the Devil would imply that you can't have good oral health without fluoride. Logical fallacy. Do you strawman much or only when you drink? |
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We had the run to 630, we need to sit here for a couple weeks like we did at 590 and think it over. Every run past 640 has been beaten back with low volume.
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Some people will not sell the coins even if they were 100K USD presently. Whoever wanted to buy all the coins would have to have government sized wallet  This is not true. The higher the price of bitcoin, the more likely people will be to sell their coins. The OP has a few issues with the sceanario. The miners will continue to mine new coins via block subsidies, this will make it impossible to have all of the bitcoin for several hundred years. Another issue is that once someone acquires the majority of bitcon the value of bitcoin would drop dramatically. Bitcon derrives it value from the fact that people will/do use it as a payment method/currency. This is very true. That's why a lot of people held off selling at $1200. That's why they held off selling at $265. That's why they held off selling at $33. If you see the price rise dramatically in a short period of time some people will always try to hold out. This is why you see run down buildings and lots in the middle of a modernized city - the land owner is holding out (usually for more financial gain). |
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it's the amusement of the word play.
Here, maybe this will help.
Army Major walks into a bathroom off base and there's a sailor taking a leak.
Sailor finishes and prepares to leave, without washing his hands.
Major raps out, "Sailor! In the army, they teach us to wash our hands after we use the latrine."
To which the sailor replies,
"Sir, yes sir! In the navy, sir, they teach us not to piss on our hands, SIR!"
Get it, lol, lol, the unexpected response?
No?
How about this one.
The Earl of Sandwich to John Wilkes: "You, sir, shall die either by hanging or of some loathesome disease!" To which Wilkes responded, "that depends, milord, on whether I embrace your principles, or your mistress."
bah ha ha
get it now?
No?
I give up. You're just a lost cause. Here's a nickel, go buy a sense of humor.
I have a wonderful sense of humor, and this was no simple unexpected response. (boy, is that marine ever dumb, ha. ha.) Was it about a marine's stupidity No...that's a false claim as well. What it was, was a lame attempt to equate Michelle Obama and Nancy Pelosi to pigs. Something less than pigs; the pigs were a step up. The 'joke' is offensive as hell. You're damn right it's offensive. Swine should never be equated with Nancy Pelosi... it's degrading to the pig. https://www.youtube.com/watch?v=hV-05TLiiLUhttps://www.youtube.com/watch?v=St8vksfTvWw |
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The U.S. has become so brazen in their efforts to overthrow governments. Half of the campaigns aren't even covert anymore.
So either the US is doing this more often than other countries or.... it's getting caught more often and isn't as sneaky as it thinks it is because it's sloppy. I'm too low on the food chain to know the truth. |
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No major change in the usage of energy since the beginning of the last century. We still rely on power plants built 1/2 a century ago. Cars run on the same hydrocarbon fuels, except now we can lug around heavy batteries too.
For every 1% increase in efficiency the world is using 2% more energy.
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