Am I late here..?  /r/bitcoin was kind of friendly. can someone here do a review of the following post. Leave satoshi alone; and mBTC, uBTC too..I think, we should stop using direct bitcoin, or bitcoin denominated units (mBTC, uBTC, etc.). There should be some 'new unit', which can be adjusted in such a way that, for $1 you can always buy 1 - 10 new unit of bitcoins (?). For example, 1 BTC = x newBTC Where, x, a number newBTC, new bitcoin unit (just for example, it can be called BTC / XAU) To keep, 1 newBTC between $0.1 and $1 » for $500 a BTC, x should be between 500 and 5000. This x can be decided, based on exchange rates and calculations (?). As an end result, people don't see wide fluctuations, and newBTC stays always between $0.1 and $1. Why $0.1 to $1? Just my guess, but it should be kept stable adjusting BTC, newBTC ratio. Say, x = 2000 » 1 newBTC = 0.5 mBTC » @ $500, 1 newBTC = $0.25 x = 2000, is good for $200 - $2000 range. So, we should keep this x dynamic, reflecting current exchange rate. newBTC is the same as BTC, for people, wallets and exchanges. Software front end show this unit, and internally work as usual. Even if 2 / 4 more digits added further to current 8 digits precision, this new unit can hide the tech (satoshi) details from public. It works as a stock split, but no internal changes required. End users don't have to understand this, because they are just paying bitcoins worth in fiat currency. Just a quick draft of a rough idea. Let me know what you think. (Actually I wrote it last week, and I only made small changes..) http://www.reddit.com/r/Bitcoin/comments/24lceo/leave_satoshi_alone_and_mbtc_ubtc_too/ |
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Yes, my English is not the best and your math competence zero. Let me write this slowly because I know that you cannot read fast.
Calculating a hash takes <1s, due to a special condition it is a bit more complicated with Bitcoins. They way they do it today is Brute Force. ASICs are perfect for this.
Expensive in developing, very cheap in producing. But you cannot do anything else with them. Once they do not use Brute Force anymore, they are dead and GPUs are much faster,
because general purpose. Got it ?
Conan
even 10 years down the line, your gpu is not going to hash as much as an usb powered ASIC. bitcoin ASICs are useless for anything other than hashing, but GPUs are now useless with bitcoin mining. world will never ever mine with GPUs again.. |
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Hi guys, just wondering, how 55nm bitfury ASICs still going good when KNC is releasing 20nm ASICs?
If I can afford more space then I should choose bit fury over KNC?
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I was part of his Saturn group buy.
I'm getting regular dividends.
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Hi.  |
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great. first batch shipping is likely to start at least by the end of May. second batch by the end of June. |
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Has this idea progressed at all?
The idea I floated definitely has. In Kenya, the largest note issued by their central bank is the 1,000 shilling (KES) note. That's worth about $12. Cash is still used widely for making purchases such as appliances, used cars, etc. Imagine going shopping for a new large screen TV and having to carry a 3" thick stack of bills. Then imagine being the merchant, having to carry a satchel to transport the previous day's cash sales to the bank. This idea has potential. cool. |
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10 MW »» 10 PHash
5%, 10 PHash »» total n/w, 200 PHash
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With new 10MW DataCenter KNC can add another 10-15 PHash to network.
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Just wondering, KNC is still selling Jupiters? When they busy with higher end Neptune stuff, why don't allocate some resources to build and ship Jupiters too?
I think, there's a good market for sub-$1k miners targeted towards home / individual miners.
Pricing miners in terms of current total network hashrate, would be great; say cost of this 1 THash miner is bitcoins it would mine for 2 - 3 months at 20 PHash (or, hashrate on the day you receive the miner).
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55 days to Q2. And, another 91 days before Q2 ends.  |
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Hi, Any idea who shipped how much hash power?
KNC, ASICMiner, BFL, cointerra?
any pointers to previous discussion? Thanks.
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I like that pyramid analogy, so ethereum is supposed to be the other side of the pyramid shown in fiat currency..
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Hey guys, am I late to ask questions? I admit I didn't read much except first post.  1. What if you 30k funding goal is reached within a week? 2X ether for everyone? 2. What kind of inflation you're talking about? You evenly distribute 4% new ether to every investor every year? Or, you keep it? 3. Is total ether (X) ever going to be a problem? 30,000 BTC » X ether; X = 30 Million, or 30 Billion ether. All the best. |
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@ttbit, did you check bip-38?
Is that anyway useful here?
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No. It's too confusing. Use either full BTC or satoshis (if BTC becomes much more valuable in fiat).
If you want to use Satoshi as a base unit, then it should at least reach $0.01 in value. And for that, the BTC should cross $1,000,000 mark. $0.01 = 122.6 indonesian rupiah |
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https://www.kncminer.com/products/neptune-second-batchOne month gap.. means, one month gap between last miner of first batch and first miner of the second batch? 2014-Q2, June 30 second batch shipment starts, then that would be, all first batch miners shipped before May 31st. If you do a third batch Q2 release announcement with one month gap from second batch, then this would push your first batch shipments by April 30. Be a bit more clear guys.. great news, anyways.
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How's this 20nm asics are being developed? Everything on track so far? Next milestone?
Oct Nov shipped, firmware somewhat stable. No information yet except vague timeline of Q1/Q2. Cool.. |
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Why should we trust pool operators? Can distribute this trust among miners?
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Backup to a floppy. |
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