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1 for every 357 is more than enough when bitcoin will reach astronomical value such as 100k-1M range in $
357 people would get almost $3k out of it, i fidn that bitcoin might help the economy distribution better than fiat in the future, because the poorer who buy now will be richer in the future
and the richer can't buy many or there won't be enough for the pooerer to buy and help the value increase, it's a win win situation
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Yeah, we need more miners rather than more full nodes I think to help make the network stronger. But miners require significant investments so most folks won't be setting up new miners even though its needed.
This is sigspam nonsense. There is more than enough mining hardware around. What isn't enough of in mining is enough spread of the hashrate. More people buying hardware won't fix that when the economies of scale and cheap electricity means most hardware is clustered in a small number of huge farms owned by very few people. this can't be helped, unless there is that algo change that we were talking abaout few week ago, and even then i think chinese would control gpu miner if we were to return back to our roots i bet they have the majority of hash in altcoin too with gpu mining, still it's true that more casual mining wuld be possible without asic, which is good for decentralization |
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it's ascertained that the value don't care about internal dispute, otherwise we would be stuck at $1000, in fact average joe don't even understand what's going on with BU or segwit
i bet they don't even know what these those things is, value is increase because simply more investors are "playing" with bitcoin, japan is the first one...
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what i see now is what matter, and lbry is at top with feathercoin with 2x profit over sia
btw lbry pumped hard to 10k...
btw something isn't right in your post, are you comparing a 1070 on both coin? 1800 MH vs 300 MH right? because i get different things that what you posted, which seems to be taken from current profitability...
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btw with the last version i get illegal memory access for JHA algo, this need to be fixed when you have time, 1.8.3 work fine for this old algo
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are you planning to boost some algo?,sweepstakecoin this new coin has the old JHA algo, which could see a boost i think
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sia is bad, only good for dual mining, thre is no profit there, BTX is much better but again the diff is climbing, still there are better option than both...
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Good to know we have a new nVidia dev. But to be fair to SP (he is the OP of this thread), it would be great if you start a new thread.
I really should, but it's more like a hobby project and won't be updated on regular basis, and you know how newbie acc's are treated as virus/trojan-makers. I appreciate SP's work and never wanted to bother his business, he's excellent dev, was just searching for target audience I hugely need for testing. Removing the stuff, sorry  P.S: duboisi, please, remove the link form your quote. if you provide source and everything, i don't see the issue with being newbie, would be good to start your thread, i see that your first work is on bitcore right? |
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for bitcoin you can only mine with some profit, using antminer s9, which is the top one, until they make the new more effiicient miners You really can't make your own miner due to technical issues. You could, but it'd be immensely expensive and it'sd take lots of programming and effort. Due to this you have several choices, all from Bitmain or Avalon, the A7, S9, R4, or T9. Bitmain tends to have worse durability and support as well as horrible repairs so I usually tell people to go with Avalon for serious mining operations. They're not efficiency-wise better than Bitmain's miners but they're reliable and that matters when mining.
i would be curious to know about the cost production for making antminers s9 on large scale, if they sell them for $1k or so, they are not spending more than $500, usually the aim is to have 2x of the cost of production |
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NO!
Bitcoin is according to the law a commodity and not a currency.
Therefore it is taxed like any other stock/bond/commodity: it is subject to the capital gains taxes (in the US). the difference is that stock and other are heavily controlled, and you are forced to claim your income, i mean any forex platform require ID, so they know everythign about your movement but with bitcoin i can do trade in decentralized way if possible, like with bitsquare/bitshares, with bitcoin there is a high chance that you can evade your claiming and they will never know not to mention all the altcoin that i'm sure can be traded directly with fiat if possible, in real life, i mean i want to met someone and sell him 100k "shittycoin" and he pay me in fiat we can do this chilling at my home or his home, there is no way that someone will know about this... |
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Good points, but what if that is exactly Jihad Wu's and Roger Ver's motives? What if they really want to crush BTC because they got big positions in some altcoin like ETH or LTC and they will short BTC as the flippening occurs? Or what if jihad Wu gets paid millions++ by the PBOC to kill BTC? You never know with those bastards, this is why I think having a position in LTC (and even if I dont like it, ETH) is reasonable, you never know if they will go to the end and finally kill BTC's leadership.
What's the point of having Alts? If they can destroy Bitcoin, the only decentralized crypto, to destroy scamcoins would be very easy in eth it's enough to snub out Buterin for example. So there's no alternatives, either Bitcoin thrives or all crypto go to hell alt are there for diversification, if you want to invest big amount in a cheap coins for a great return you can do it, without altcoin you can't alt serve the sole purpose to increase your bitcoin balance, ok maybe ETH have more than this to offer, but we would see when this thign change to pos what will happen besides i don't think any alt can dream of destroying bitcoin, and investors are the one that decide where they want to put their money, not some Jihad Wu and Roger Ver guys... |
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If you want to confirm a transaction in a single day, you'll need to:
Purchase 2,140 Antminer S9 units at a price of about $1270 each (Total purchase price $2,717,800).
Set up a bitcoin mining farm.
Learn how to control which transactions are included in the blocks you mine.
Use approximately 68052 kWh of electricity (about $7,485 at $0.11 per kWh).
OR
You could just pay a transaction fee of 0.00000220 BTC per byte for your transactions, and let someone else that has made the investment in a mining business handle the confirming for you.
why 30 peta of hashrate to have your transaction confirmed? even a small miner if he is lucky and manage to find a block in few days he can include his transaction in the block with 30 peta there is no guarantee either that you will do it in one day(this hash can found a block in 1 day based on calculator) if that was the logic behind it, besides the OP didn't talk about a tiem-frame... |
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they will probably start introduce bitcoin as a payments in their future anime too, would be fun to see characters of some anime pay with bitcoin in the story
i always love japan they seems one step ahead of everyone else, and embrance always new technology without worrying much
i like also that they didn't try to make their own copy-paste bitcoin with private blockchain like other tried to do, and dismissing everything about bitcoin
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what are you talking about have nothing to do with the success of bitcoin, it's just mean that more money are in altcoin in comparison to the past, but still bitcoin managed to increase to a very high level
remember that investors jump on altcoin to have more bitcoin, but soem of them like ETH are too big too die already, ETH is the only one that can pose a threat to bitcoin, the other coins have an insignificant maretcap
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not much because chinese already have nearly free electricity with a cost of 0.05 or lower even 0.03, having zero won't cut roi much, would just allow for more room to add more antminers s9 to stay competitive
also peopel tend to forget that consumption is not related to electricity alone, when you consume more you spend more in cooling and psu, they need to find a way to make more efficient miners not just for electricity cost
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In the US:
Mining income is taxed as ordinary income at the price on the day and at the time you mine the coins.
Profit/Loss while trading is taxed as a capital gain or loss.
I have paid the income tax on all the coins I have mined and the capital gains tax on all of my trading.
by your words it seems that you need to pay whatever you are going toe xchange your coins or not? this seems absurd, i was under the impression that as long you don't exchange you don't need to claim your capital, at best you need to declare the consumption, which in fact was payed with fiat but if i pay in bitcoin my bills i should be fine with no tax, as long as i keep everything in bitcoin, with altcoin would even be more worse... If people had to pay taxes only when you exchange your goods (or bitcoins) for fiat, then most people will find ways to avoid taxes. Just stick to barter transactions, and you have to pay absolutely no taxes! I hope that clarifies why you have to pay taxes if mining is profitable, whether you sell the bitcoins or not. how can they know how many coins you are holding? the beauty of bitcoin is that someone can hold millions of $ worth in bitcoin without anyone else knowing about their existence there is no way for the IRS to know how many you generate via mining it's simply impossible, you can go ahead and claim the false or declare only 10% |
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it's dangerous to buy the btc now,you should try to buy the other coin,like ETH or others which have the technology to support
yeah sure buy other scam coin, that are just there to feed your bitcoin wallet and used only for pump and dump when bitcoin is the only one that have real usage of course it's always the case to buy bitcoin the value doesn't matter, the value is bound to increase much more in the future, besides you cna buy bitcoin to use it directly instead of fiat to have another maybe better way to purchase your stuff, with disocunt in some case, like with purse.io |
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Maybe not because its a very valuable. But because many people are supporting it. Now bitcoin recognized by many countries as virtual currency. Though legalisation is still on process on other countries. Bitcoin will find its way. Its just a matter of time. On the other hand. There are some countries fully adopts bitcoin. Hope other country do this.
not much about legalization, it's more about regulation, there are in fact many country that have already legalized bitcoin, but they have not regulate it and don't see it as a regular currency only japan see it like fiat and can be used as a regular currency there Maybe not because its a very valuable. But because many people are supporting it. Now bitcoin recognized by many countries as virtual currency. Though legalisation is still on process on other countries. Bitcoin will find its way. Its just a matter of time. On the other hand. There are some countries fully adopts bitcoin. Hope other country do this.
I really don't see it happening. A few months ago bitcoin was worth around $800. It was mostly not regulated by any laws. In some countries it was forbidden. There were few that accepted it. What changed now? Bitcoin is $1500, but what about its reconginition? Well, it became legal in Vietnam and Nigeria really after the price went up. Everything else is mostly the way it used to be. I think bitcoin needs a lot more time till we can say it is really accepted. We users of bitcoins should persuade those countries who were against bitcoins and not using it. We are also partially responsible on what direction bitcoins will take. We can let them know the benefits of having bitcoins as an additional currency through virtual means and you have nothing to lose if you use it. I agree with you that bitcoins had still a long way to go. Countries now the benefits of bitcoin but for making it legal, there are many formalities and rules you have to follow as a country, and to check weather it is useful or not. Users of bitcoin what ever they say does not matter to them. The only problem for not making bitcoin legal is it's source as source is unknown. And many terrorist organizations may use it as their financial source. the only country that are making it illegal are bangladesh and venezuela when they arrested those miners, but i remember they were just stealing energy, which is not bitcoin fault there is no other country making bitcoin illegal, because they know that this is pointless |
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Option 1: Earn $2 (worth 0.00125 BTC) per hour at a real job. Use the money to buy bitcoins.
Option 2: Earn 0.0000125 BTC (worth $0.02) per hour doing faucets or spamming the forums.
Why is there even a question?
option 3 signature campaign give you 0.035 per week, which is not bad at all, faucets are useless and not comparable to signature option 4 mining gpu give you 0.02 a day per rig, which is more than everything else option 5 sell something for bitcoin, i sold many open frame rig in the past and made more than 1 btc in a month |
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you must be kidding with the all virus and malware/keylogger and what else, you will be plagued with virus in seconds with a private source
crypto must be open source ever, there is no other way around, still i would support a better consensus mechanics were not only miners and exchange/merchants count, but also full nodes
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