It would seem the $100 support is about to be broken for good, in which case OP would be correct...
$100 is the new $5. Prepare to oscillate around it for a few weeks to months. All we need now is some crazy ass Texan to try to suck up all the available investment capital and try to short bitcoin  . |
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Does anybody know how p2pool determines the difficulty it hands out to miners? Specifically, I need to know if difficulty is determined at the pool level, the p2pool, instance level, the user (btc address) level, or the individual mining client level.
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I hope the facilties are being taken care of by a good security team. Not to be a tinfoilhatter but the more success you have, the more enemies you make. Certain people would be very happy now if the AsicMiner hashing farm were to *accidentally* blow up.
This is not a bad question. In my head the two ASICMINERs datacenters are patrolled by PLA super-troopers, but we really have no idea. Obviously the team behind ASICMINER is more than component, so I'm sure they have thought long and hard about security, and have solid ways of protecing wallets. If everything were operating from a typical office/ datacenter, a bunch of guys with guns could take it over and steal the coins the day before dividends are sent... it would be a not-too-small fortune. At this point I am so impressed with and confident in ASICMINER/Bitfountain/friedcat, I'm sure that they they have a setup/plan for the wallets so that even the Triads have no chance of getting the jump on them. I nominate a query regarding physical security of the current mining datacenters for the next shareholder question poll. I nominate a query about mining a small amount on p2pool in order to keep it finding at least a block a day. In fact, with p2pool, if they are able to mine more efficient than the average, they can potentially earn more than solo mining. However, pointing all the hash power at p2pool would make it too hard for anyone else to find shares. However, I am currently working on proxy software that can track shares and submit shares from multiple users to p2pool under the same address. The payouts can then be made to the individual users once the coins mature. Once this is ready, I'm hoping we can get a few pools set up and then p2pool should be able to remain useful for smaller miners at much higher total hashrates. |
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it does increase the profitability for the most efficient miners in bitcoin terms
Yes, I can see a better return in bitcoins, but it's the cash value which determines profitability IMO. Obviously earning a 50BTC block reward in 2012 with a cash value of about $5 per BTC for a total of $250 was nowhere near as profitable as winning a 25BTC block reward when bitcoins were worth $200 earlier this spring for a total of $5000. Many miners are willing to wait until the bear market ends to take their profits. |
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I wonder how much posts from cypherdoc thread influence the price
As much as Paul the Octopus influenced the result of the world cup matches.. I'd guess much less now that his service costs $250 a month. |
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Nothing of the same generation can surpass Mt.Gox. We need the Dealer Network, developed here. I think it takes about 3 weeks from this day to the inauguration of the daily fixing. I mean that you can skip gox from that day on doing OTC. 3 months for this to take out the volume from Gox also. You know, I used to trade locally, but I live in the US and I am completely clueless as to what I need to do in order to continue trading legally. If you figure that out, let me know and I'd be happy trade with your network. |
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One week later:  My fiat is ready  I wouldn't recommend trying to catch the bottom. Dollar cost averaging is a great way to redeploy investment capital. |
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10 Fridays and we may be able to use CPU miners again  Edit: Oh, and by the way... probably 10 Fridays and I'll finally receive by BFL ASIC...  hehe Calculate the time to ROI now!  ? The cash value of a 25BTC block reward going down will somehow make GPU mining profitable again? I was hoping that a return to pre-bubble-burst prices would increase profitability enough to offset the wait for my BFL ASICs. Still might happen. At least I got my order in before they doubled their prices. At the peak of the bubble my estimated ROI time was 3 days. As price falls, those with narrow profit margins drop out of the mining game. This results in lower difficulty. Obviously, this won't cause a regression to older technologies as ehoffman suggests, but it does increase the profitability for the most efficient miners in bitcoin terms since their share of the pie goes up. |
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The error in this calculator is that it presents the percentage of "store of value" and "black market" to unrealistic values.
If you enter more realistic values like 0.01% in there you come to more realistic values.
I disagree frequently with your comments, but this one is spot on, although store of value may be a bit higher than 0.01%. (That said, I at least can respect your logic skills, we just have different experiences). |
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it has lots of great properties — negligible transaction fees (...) Bullshit. My credit card is free of charge for me (as a customer), I don't give a shit if the merchant have to pay an American company for providing this service. But I know, and I care, that everywhere in the country I can use it, without paying any fee. Bitcoins fees are way too high. Nope. You are incredibly, retardedly, wrong. CC fees are priced into the goods/services you receive, as they are contractually prevented from adding a charge for CC billing in most cases. So the lower the tx fee for ANY service, the lower the overhead. If you think you're not affected by a recipient tx fee vs. a sender tx fee, you're wrong  Merchants are allowed to charge less for cash but not more for CC. Most don't do this. Gas stations are a notable exception. For the most that don't, it's equivalent to everyone paying a little more to cover CC cost. For those that do, it's equiv. to getting a discount for cash payments. Just like I give my customers discounts for BTC payments as it's less trips to the bank for me, less hassle, and no fees (I don't use BitPay.) Exactly. 2-5% CC fees are a cost of doing business for merchants that accept them. When conducting transactions has a cost, it doesn't matter who pays them because the one paying always factors it into their pricing. If they are socialist (or contractually obligated to act as if they were) they may spread the cost across all customers, but the cost is still part of the price. BTW, if you want a real world example, check out bitcoinstore.com. Their huge product database is still a little tough to sort through, but it is getting better. More importantly, by only accepting bitcoin, they are able to offer better prices on most electronics than any other site on the web. Not only do they save CC processing fees, but they avoid the extra costs incurred in dealing with cases of fraud or attempted fraud. |
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You dont need to start a new thread for every price dip. There are enough threads to discuss it.
but price move a whole percent! |
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What stops anyone from using 0.8.2 and setting it to accept microtransactions? Unless it's just that the miner is too dumb to do that, the newer client is even more customizable than the last.
What stops people is that is by default off, so unless we all start sharing IPs with I don't think we want to, it would be very hard to relay that transaction, to a miner if any miner would pick it up. I have yet to find a miner that supports this so I can directly connect to them. So how is a boycott effective unless it's miners doing the boycotting? Are they joining in? I am trying to talk to them and get them to join, but their greedy eyes are wider. I am also thinking of taking $500,000 of my own money and investing in ASIC miners and doing mining myself. I am stilling thinking about that option cause $500,000 would make a tough year for me, but I am so passionate about the community I would do it. I am a miner and I prefer the new fee structure. Microtransactions are certainly still possible, but they now require fees more in line with other transactions of the same size (storage-wise). Also, larger (transfer amount) transactions are now cheaper. I think this is a better balance. |
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there's like $12K on BF before 2.8, too
uh, well, not any more... $1k has been eaten so far on havelock |
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about to cross 2.8 on btct...
3 btc is on the horizon. people are crazy for selling at anything less.
There are $10,000 worth of shares sitting for sale at 2.7 on havelock. |
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I agree with your overall point, but the data doesn't quite tell the story you are trying to portray. The piece you are missing is that the 2011 run up and the recent run up in difficulty were both triggered by a new technology that dramatically improved the efficiency of mining. In 2011 it was GPUs and in 2013 it is ASICs. ASICs are still being deployed and I expect a minimum of triple the current hash rate before we see difficulty top. As much as 10X the current difficulty may happen, depending on how the price goes. <-- Again, I agree price ultimately drives difficulty, but technology improvements shift gears. That being said, as soon as 28nm ASICs make up the majority of the network, we will see technology improvements capped by Moore's Law. We will then be in "top gear" and we can drive this thing like we stole it.
New and improved technologies do push the hashrate up, but one can still see the clear relation between price and hashrate. In your explanation, where do the FPGAs fit? FPGAs were too complicated for the average miner and even though I had the expertise to operate them, I knew ASICs weren't far behind, so I did not invest in FPGAs. I'm buying ASICs now. I would attribute the widening gap between difficulty and price before the parabolic move to the small amount of FPGAs that were brought online. |
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The btc can be checked on blockchain as receipt of payment.
Except trading virtual currencies is expressly forbidden by PayPal's terms of service and they will not only side with the sender of USD, you also risk having your account frozen for up to 6 months. |
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Two things you're forgetting. Gold is quite often referred to as GLD and silver is referred to as SLV. Plus, in the not-too-distant future all of those other bullshit national currencies aren't going to exist anyways, flushing all of the current ISO labels right down the toilet. The new labels will be BTC, LTC, FRC, NMC, etc.
Yes. But don't you want that future to arrive faster, and help raise the probability that it arrives at all? Yes, but I'm not convinced that placating the current system is the way to do that. It's not placating, it's using a larger opponent's strength against him. I see it like this: http://www.grapplearts.com/Blog/2012/09/stabilizing-and-attacking-larger-opponents-from-sidemount/You mean farting in their face?  |
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How are the EMA in this one different from the ones at Moody's? Click settings... it will tell you the periods. Moody's uses 10 and 21. |
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