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321  Alternate cryptocurrencies / Announcements (Altcoins) / Re: GreenCoin [OP upgrade] - A personalized carbon emission offset credit on: January 01, 2015, 07:46:45 AM
If you take the current price of GreenCoin (Bittrex / Allcoin -- currently 3 satoshi) and Bitcoin ($315), and the average amount of miles driven by Americans every year (13,460), here's a graph showing the amount of GreenCoin you could buy to completely offset your the CO2 from your vehicle per year (using the current GreenCoin/CO2 conversion):





For $800 to $1,600 per year most people could completely offset their carbon from driving.


Vehicle MPG values: USM Mine Vehicle, Prius, Dodge Ram.
322  Alternate cryptocurrencies / Announcements (Altcoins) / Re: GreenCoin [OP upgrade] - A personalized carbon emission offset credit on: December 25, 2014, 09:10:53 PM
MERRY Christmas GreenCoiners!!

Hoping for a intensely productive, and carbon reductive, 2015!


323  Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN][MULTIPOOL] NO registration, 0% stratum fees, MERGED MINING, Multi-Algo! on: December 24, 2014, 05:34:57 PM
hi everybody!

I strongly recommend this pool. Dedicated devs.
324  Bitcoin / Project Development / 1 -1.5 BTC available - Good winter break intern project on: December 24, 2014, 05:48:51 AM
Looking for additional coin dev to look over some code of an existing coin, make suggestions based on risk/reward, then implement the decisions we come to. Looking to build a long-term relationship as well. US based. Serious inquires only please.

new snazzier OP: https://bitcointalk.org/index.php?topic=903637.0
old OP: https://bitcointalk.org/index.php?topic=636548.0
325  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][GRE] GreenCoin | On Bittrex now! on: December 23, 2014, 11:19:09 PM
I've posted an updated OP here with some upgraded graphics and such:

https://bitcointalk.org/index.php?topic=957976.0


Please join me on the new thread going forward
326  Alternate cryptocurrencies / Announcements (Altcoins) / GreenCoin [OP upgrade] - A personalized carbon emission offset credit on: December 23, 2014, 11:16:42 PM
INVALID BBCODE: loop, probably unclosed tags
327  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][GRE] GreenCoin | On Bittrex now! on: December 23, 2014, 06:13:12 PM
GreenCoin is experiencing a technical issue. For a short time now the Foundation has been receiving 20 coins from one or more of the pools instead of 1000. For example here is a list of the last 20 transactions from the Foundation wallet:

Code:
$./greencoind listtransactions "" 20 0
[
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 20.00000000,
        "confirmations" : 20,
        "generated" : true,
        "blockhash" : "d7ecfacb4fe00e07416c3efe6704fe780045c002fb29f60ff4e7a64ca16f5313",
        "blockindex" : 0,
        "blocktime" : 1419355577,
        "txid" : "f7e74f3b94b1c151adf91074dc9bf1c3295853f11734434e5980ff0af5c67c7c",
        "time" : 1419355577,
        "timereceived" : 1419355644
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 20.00000000,
        "confirmations" : 19,
        "generated" : true,
        "blockhash" : "b6ec5ba0274ea5e4f0578bb9b523bc9fea8643a923c2c824bce3f6a8f3980e58",
        "blockindex" : 0,
        "blocktime" : 1419355636,
        "txid" : "de7c8a58f038a49039ceb016719004eec4b2727729f3a1a03001ce616e8b7396",
        "time" : 1419355636,
        "timereceived" : 1419355694
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 20.00000000,
        "confirmations" : 18,
        "generated" : true,
        "blockhash" : "6f4d253fb7aeb92f8f4443baf7d788fbe59081132a0f6a74b77f4d2163d6776a",
        "blockindex" : 0,
        "blocktime" : 1419355746,
        "txid" : "1ceedc26d5fbcdeef53fae5ecf57aae492ad28cac6e6b72ef56a0acf13779f92",
        "time" : 1419355746,
        "timereceived" : 1419355793
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 1000.00000000,
        "confirmations" : 17,
        "generated" : true,
        "blockhash" : "47094843326e0a2495800f1eba67505421c39c8d15510ea220e65c011545354b",
        "blockindex" : 0,
        "blocktime" : 1419355786,
        "txid" : "b59d944baffea7c9afa70660d4590664987a797eab9ab51cf70ea544e869d9b4",
        "time" : 1419355786,
        "timereceived" : 1419355870
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 20.00000000,
        "confirmations" : 16,
        "generated" : true,
        "blockhash" : "999250b4396e917aa144d481d48c87c868be76fded5ed745174f384f7f8392b5",
        "blockindex" : 0,
        "blocktime" : 1419355863,
        "txid" : "895018aaa2bc13b03cc393ce7ee986076a3ab60a4884c6ea44861c5c24fad200",
        "time" : 1419355863,
        "timereceived" : 1419355921
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 1000.00000000,
        "confirmations" : 15,
        "generated" : true,
        "blockhash" : "6e6df9762353b82dd064ff16710d412aaab29ff0221ccd87b5b7bf0f8a35e79b",
        "blockindex" : 0,
        "blocktime" : 1419355914,
        "txid" : "7b6527a46b7a8d9d6af21cf341cc6de7b9a7a42647f61ae2ec2d0b1a8a87a66a",
        "time" : 1419355914,
        "timereceived" : 1419355996
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 20.00000000,
        "confirmations" : 14,
        "generated" : true,
        "blockhash" : "13904034748aa84109caae9ef95c603e710682578c3f0acca620fb2471a14c6b",
        "blockindex" : 0,
        "blocktime" : 1419355989,
        "txid" : "36fa2ad5443a25f140e3008fc30306394d55f9e5ebec479a2e8136b2eb98c980",
        "time" : 1419355989,
        "timereceived" : 1419356004
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 20.00000000,
        "confirmations" : 13,
        "generated" : true,
        "blockhash" : "a1cebaf74f21f204469e8849bb59481672b6c237065b2b0c0d1149dd466b3012",
        "blockindex" : 0,
        "blocktime" : 1419355996,
        "txid" : "257481546eb16c021c4cf8d99fe97f604906f7aba84d48c6429d84993fc53755",
        "time" : 1419355996,
        "timereceived" : 1419356027
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 20.00000000,
        "confirmations" : 12,
        "generated" : true,
        "blockhash" : "ada24afc9cef3bd9d798e762730421f4ad7eebe75eb89fd621148bc885bc7e0a",
        "blockindex" : 0,
        "blocktime" : 1419356018,
        "txid" : "041d5ecf6f486c30f61b7d67cafc1b258f030a80954cf29c4dd7c92c9c9b444c",
        "time" : 1419356018,
        "timereceived" : 1419356060
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 20.00000000,
        "confirmations" : 11,
        "generated" : true,
        "blockhash" : "a84bc588efdfd7993b212b825409d91c96641ab967421fdd3e569134b6d87884",
        "blockindex" : 0,
        "blocktime" : 1419356139,
        "txid" : "cbd10b8fff034b99c4cfd80b3e3b1b66bb7aa9794fcb8c76321568201695248f",
        "time" : 1419356139,
        "timereceived" : 1419356174
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 20.00000000,
        "confirmations" : 10,
        "generated" : true,
        "blockhash" : "d616a57243044b20ef3893363fae6ab70486a5d020b8f6590de033f3f9b9c3e3",
        "blockindex" : 0,
        "blocktime" : 1419356199,
        "txid" : "586a0489c551425e4e29469eb8b6be056bea2577ce0b31e91d7a7e8f53dd6279",
        "time" : 1419356199,
        "timereceived" : 1419356212
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 20.00000000,
        "confirmations" : 9,
        "generated" : true,
        "blockhash" : "cab2eb637a894e10410eabe5cd64bcdb8141bb889b3fee85a4008655c6c2178a",
        "blockindex" : 0,
        "blocktime" : 1419356204,
        "txid" : "ad002e2a7eed13d8197bdd0cb08cb296d86249f79d8b87a479ede101539d5923",
        "time" : 1419356204,
        "timereceived" : 1419356219
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 20.00000000,
        "confirmations" : 8,
        "generated" : true,
        "blockhash" : "87328d24a7686038e717e05e24e206fca765d2ec3c007bbbec00ee1dafbb02b2",
        "blockindex" : 0,
        "blocktime" : 1419356209,
        "txid" : "bd9c6d0e526a77a2a919b75f551eacdd2a91cb489200e20de81247403abd2cb9",
        "time" : 1419356209,
        "timereceived" : 1419356253
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 20.00000000,
        "confirmations" : 7,
        "generated" : true,
        "blockhash" : "c50ff23ddc5759f874586ed4eb73158ffb7df9496ade1707e44fd718be0db9b0",
        "blockindex" : 0,
        "blocktime" : 1419356245,
        "txid" : "898cc15e798cf6d118971e554c7095885813d72641de4a5b9d8b7b451e13620d",
        "time" : 1419356245,
        "timereceived" : 1419356260
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 20.00000000,
        "confirmations" : 6,
        "generated" : true,
        "blockhash" : "0650ab6c1b22d309f91aaa17c27029d33150be53339f7ac7a03f7c0672adfbce",
        "blockindex" : 0,
        "blocktime" : 1419356250,
        "txid" : "fa47d30e75f94f857bf6f9787137c4acb8100afda2b2b3bd7277e4c8923a609b",
        "time" : 1419356250,
        "timereceived" : 1419356267
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 1000.00000000,
        "confirmations" : 5,
        "generated" : true,
        "blockhash" : "6104ec926e93b042ce5c267da14c5be16d53939e2d3c4f5720687891644b0424",
        "blockindex" : 0,
        "blocktime" : 1419356261,
        "txid" : "7fbf347706ce5c783a99f305f69dc055f04122524555dcd53b993a87e1b32268",
        "time" : 1419356261,
        "timereceived" : 1419356389
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 20.00000000,
        "confirmations" : 4,
        "generated" : true,
        "blockhash" : "544e6c031b0880b405ee50b7aa8cef4b175bcf02cd389fb7926c81b3b0265ab4",
        "blockindex" : 0,
        "blocktime" : 1419356550,
        "txid" : "e187d13d4646f3effbda336a91fb18e38ddef56747fba1da874e5c43d0d1e841",
        "time" : 1419356550,
        "timereceived" : 1419356589
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 20.00000000,
        "confirmations" : 3,
        "generated" : true,
        "blockhash" : "f77fd94037cef54e03e2f308eb175ee8e5bc05733976ac956b5c5fb3d870de90",
        "blockindex" : 0,
        "blocktime" : 1419356580,
        "txid" : "ab33ded9c91eb8b3136d3603b25e7b0e6aa97f75ecaddecfbcebb7ea265c9841",
        "time" : 1419356580,
        "timereceived" : 1419356599
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 20.00000000,
        "confirmations" : 2,
        "generated" : true,
        "blockhash" : "92106a54bbd7c365fc3fceccdc0b3daa2fcd099293b66924277e9c0564d46a6f",
        "blockindex" : 0,
        "blocktime" : 1419356610,
        "txid" : "678b32d73d75bf942874c37380e54c3299649d393d2981f7d9b5d0c09b858cae",
        "time" : 1419356610,
        "timereceived" : 1419356643
    },
    {
        "account" : "",
        "address" : "GZdib7W1cxd2VaEfYAw4ppe6dXhkhbScE2",
        "category" : "immature",
        "amount" : 20.00000000,
        "confirmations" : 1,
        "generated" : true,
        "blockhash" : "215a254c05505fd175e6988baa26321536c7a9ebea55a417ef7c749addfd97b8",
        "blockindex" : 0,
        "blocktime" : 1419356635,
        "txid" : "438cd452c149e1242d1a5679f054d73133b66220ac771aefae0a8e22b3fd5c31",
        "time" : 1419356635,
        "timereceived" : 1419356648
    }
]

[It is important to note that all other aspects of the coin, including merged mining, transactions, average block time, etc are all working perfectly.]

The code above indicates the coins coming into the Foundation. The amount is either "20" or "1000". Sometimes there are more "1000's" than "20's" so it probably depends on the relative strength of the pools set up correctly versus the unsub pool. Without an operating block explorer I wasn't able to determine whether the coins were being burned inadvertently. However, the evidence on Bittrex suggest strongly that one of the pools is receiving 1,980 coins and only sending 20 to the Foundation, due to programmatic-looking selling on Bittrex often being in exact multiples of 1980. The fact we get 20 coins also looks a lot like a pool donation of 2%. So the unsub pool probably has somehow set up their mining incorrectly and they keep 1980 coins that go to their miners and the 2% that was meant to go to the pool as a fee comes to us. Whether this was intentionally done or not is less important than the fact that it's possible. I alerted ncsupanda to the issue but he has not responded. I do not personally have the technical ability to fully address the issue and come up with a technical solution. If there are others who have the ability to help we do have some financing available. Please PM me. We have 1 BTC - 1.5 BTC available for this depending on the workload. Step 1 would be to fully understand the issue and then Step 2 would be to come up with the proper solution and implement it. Also it would be very helpful to have a block explorer working again I am soliciting this again for 0.15 BTC.

As far as payouts have been going, the foundation has been consistently receiving about 350,000-500,000 coins so I have donated in the difference to represent a "full payout" (that is, to reach the total of ~1.4M per day). The coin is cheap enough that I can do this for now and maybe a bit longer but it is not a long term solution. The Foundation is mandated to distribute the coins it actually receives per day and so I may drop the payout down to the actual coins received if I can no longer donate in the difference.

If your pool is receiving 1,980 coins instead of 1,000 per block, if you could please shut down for now or attempt to correct your pool set-up on your end I would greatly appreciate it. Obviously the code should make it impossible to defeat the compulsory shared coinbase transaction to the Foundation, so we apologize for this and are looking into solutions.

My analysis:
  • The coin still works in the job it is trying to do as a carbon emission offset credit because the calculation is not dependent on the coin's split between the Foundation and the miners. Therefore, during the period where we are looking at solutions the coin can continue to operate as it currently does.
  • This is a good time to look at all options on the table. For instance, (1) the coin could be forked with the coinbase tx code fix but also could contain any upgrades desired. (2) We could go to a PoS coin at this time and remove mining completely. The pros and cons of PoS versus PoW really need to be vetted first though. I think it matches out environmental imperative to have a coin that eliminates or minimizes PoW mining as much as possible, so eventually I think we should go in the PoS direction. Maybe given the current circumstances this is the right time to try it.
  • I continue to be committed to this coin and if solutions are on the table I can raise the financing to implement them, within a reasonable amount.
328  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][GRE] GreenCoin | On Bittrex now! on: December 21, 2014, 06:00:18 AM
Awesome a coin that has a purpose to help the world... Count me in tweet anything to me about this coin and i will retweet it https://twitter.com/AllCryptoAllDay

Love helping coins with purpose especially the environment any actual steps being taken to contact green peace or any of the big enviro players?

Thanks AllCrypto -- I'll send you some tweets. We're happy you share our enthusiasm for making a difference for the environment. It means a lot to us to help with our imperative. We've talked to Sierra Club and a few other players and are building a little bit of traction.

Awesome man I'm down if people like us don't make a difference who will?

I hear ya, hopefully some people will, but at least we are trying! It's a start!  Wink
329  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][GRE] GreenCoin | On Bittrex now! on: December 21, 2014, 03:43:32 AM
Awesome a coin that has a purpose to help the world... Count me in tweet anything to me about this coin and i will retweet it https://twitter.com/AllCryptoAllDay

Love helping coins with purpose especially the environment any actual steps being taken to contact green peace or any of the big enviro players?

Thanks AllCrypto -- I'll send you some tweets. We're happy you share our enthusiasm for making a difference for the environment. It means a lot to us to help with our imperative. We've talked to Sierra Club and a few other players and are building a little bit of traction.
330  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] ★★ Rubycoin ★★ A precious gem for the digital age on: December 20, 2014, 07:22:56 PM
how do you move coins between spend and stake? Does it happen automatically?

should I ask again?
331  Economy / Micro Earnings / Re: freebitco.in - is it even worth it? on: December 20, 2014, 06:49:02 PM
The site is provably fair which is true to get the 8-digit hex, but then what they do with it, that's where the devil is in the details, which in this case is in Point 4 below. The rules used to say the integer was rounded "UP" to the nearest whole number and now and it says the integer rounded "OFF" to the nearest whole number so that is a huge difference.

-snip-

Here is the expected value per roll based on the three different scenarios, given the site continues to maintains $200 for the top prize and divides each tier down by 10 with the same probability for winning each tier:

Round Up: 2.71 cents
Based on what "Round Off" means:
Round Down: 0.71 cents
Mathematical round: 1.71 cents


According to the following post by wetsuit (in case you don't know, he is the owner of freebitco.in), it seems to me the site has been working with "rounded off", and so the EV should be 1.71 cents.

I am sorry, it should be "rounded off" and not "rounded up". I shall correct this on the website. So any number below 0.5 will be rounded down to 0.

hmmm so that probability to get "10000" should be just 0.005%. Tongue

Yes, because that is what is feasible to pay out. You gotta remember though that there is no other faucet or free bitcoin websites (that I know of) which gives you the chance to even win that much and that too using a provably fair system.

OK thanks, that's the info I was looking for. I notice freedogeco.in still says "rounded up" but I bet that it's not rounding up either (I haven't rolled a decimal below .50 since I started looking at it, unfortunately, even after 12 rolls... ironic!  Roll Eyes )
332  Bitcoin / Bitcoin Discussion / Re: What would people think if I created a Bitcoin jobs board of my own? on: December 19, 2014, 07:05:52 PM
It would be a good idea, there have been one or two already created but the long term problem you'll have is people making shit posts and just spamming, it's something that even plagues your regular job search sites because most job sites I've looked at are filled with marketing scams.

I personally wish we could have some kind of combined effort on the internet to get rid of these blatant spammers actually but it's something that's clearly going to be with us for a long while.

You're right; one problem I have with other Bitcoin jobs sites is that they don't seem to do a very good job of policing their own sites to get rid of the scams and Spam. I want to create a legit jobs board, though, so I'll probably spend part of my time policing it for anything that looks "off".

You could have their be a charge, even if small, for both posting work solicitations and jobs. It's like the idea of charging $0.01 for email senders. Any legitimate person would pay this amount (and gladly so, as to no longer receive spam). I've been thinking about a doing up a good job board as well, though bootstrapped in Rails, not wordpress.

That's a good idea. I make some cash flow from the site and the spammers would probably look elsewhere for the free options. I probably won't charge a ton because I don't want to leave legit buyers and sellers of services out in the cold because they can't afford to pay a lot up front. What do you think of having some kind of monthly subscription plan where employers can sign up and then post a certain amount of jobs a month?

My thought would be a business model where you charge the employer something like $10 for a post. People looking for legitimate jobs will easily pay that much, and maybe $0.10 for a job seeker. The idea here is with the $10, you stop spam in it's tracks because that's a real cost, and someone that needs a job filled this is not a hefty expenditure. Craiglslist started charging $25 a long time ago, and it's still the only thing they charge for, and it works great. I've hired a bunch of people off of CL and it's still the first place I go to. The $0.10 for job seekers is enough they don't spam resumes back to everyone indiscriminately but is not a big enough of a hit to keep them from applying.

There's nothing better than the subscription charge model (i.e., "gym memberships") but it's harder with BTC than with credit cards because you need the sender to physically make the transaction each time you request funds unless you escrowed up front or something. I'd say stick with the model of listing at time of payment and having an expiration period, 30 days or the like.
333  Economy / Micro Earnings / Re: freebitco.in - is it even worth it? on: December 19, 2014, 06:44:07 PM
They give away order-of-magnitude multiples of 0.2 cents with the lowest roll payout being 0.2 cents and the highest being $200. I've calculated the expected value of a roll at 2.7 cents. This assumes the top prize is exactly a 1 in 10000 chance which may not be the case.

The site is provably fair which is true to get the 8-digit hex, but then what they do with it, that's where the devil is in the details, which in this case is in Point 4 below. The rules used to say the integer was rounded "UP" to the nearest whole number and now and it says the integer rounded "OFF" to the nearest whole number so that is a huge difference. Here is the explanation of the rules from their site:

Code:
Two strings are created : 
1. STRING1 = "[NONCE]:[SERVER SEED]:[NONCE]"
    STRING2 = "[NONCE]:[CLIENT SEED]:[NONCE]"
    For your last roll :
    STRING1 = "76:XY5UiZdUVqxX:76"
    STRING2 = "76:t8GqWftzShE2yotF:76"
2. Then HMAC-SHA512 is used to hash STRING1 with STRING2 giving us a 128 character hex string.
3. The first 8 characters of the hex string are taken and converted to a decimal.
4. This decimal is then divided by 429496.7295 and rounded off to the nearest whole number.
5. This whole number is used as your roll, with the maximum possible value being 10,000.

If you convert an 8-digit hex to a decimal you need to get "ffffffff" in order to convert to 4294967295, which divided by 429496.7295, is exactly 10,000. You have exactly an 16^8, or 1 in 42,94,967,296, chance of rolling this exact number. So the question becomes what does "round off" mean. If they mean rounding up any fraction then there is really a 1 in 10,000 chance of winning the top prize. If they actually round any fraction down then the top prize is an unwinnable canard, 22 times harder to win than the Powerball! Or maybe the site means its a true mathematical rounding, so if you roll a hex that converts to 9999.5000 or higher you win, and then at least you can win the top prize 1 in 20,000 times. But in any event it would be interesting to see how many people win what prize tier and see if it ties mathematically to the number of attempts.

Here is the expected value per roll based on the three different scenarios, given the site continues to maintains $200 for the top prize and divides each tier down by 10 with the same probability for winning each tier:

Round Up: 2.71 cents
Based on what "Round Off" means:
Round Down: 0.71 cents
Mathematical round: 1.71 cents

You can see how much the top tier affects the total EV.

If anyone has actually rolled a 10,000 that would essentially eliminate the "round down" theory so post if you have. Then it's a question of whether you can win 1 in 10k or 1 in 20k times. Accordingly, if anyone has rolled a 0000 then hat would eliminate the round up theory, and we'd be left with the mathematical rounding theory (albeit, discounting the fact someone may have beat the 1 in 42 billion odds for either of those exact hex rolls).
334  Economy / Economics / Musings on Bitcoin's upper bound price and electricity on: December 18, 2014, 10:27:38 PM
If bitcoin is generated 6*25 coins per hour (average) *$315 = $47,100. Plus some fees, maybe, so let's call it $50,000. If people collectively are paying more than $50k per hour in electricity, than miners at the margin begin to fall off. Even at a basal state cost of $0.05 per kWh that's $50,000 per hour / 0.05 $/kWh = 1,000,000 kW or 1,000 MW. This doesn't include the cost of hardware deprecation, and uses a very conservative rate for power.

So how much is 1,000 MW? The world produced about 22,000 TWh last year and there's 8765.76 hours in a typical year, so the average electrical output is 2.5098 TW or 2,509,800 MW. Bitcoin is therefore 1,000 / 2,509,800 = 0.0357% of the total. Again, this may be high if the global average rate for power is higher than $0.05 but to a first approximation it's close enough.

The inevitable arms race to increase hash/W is irrelevant. From a microeconomic standpoint that just serves to distribute the coins to the players, and further from a macroeconomic point of view the amount of money spent on power will almost nearly match the current price, with some latency adjustment period and some caveats for people who voluntarily lose money, steal power, etc (I would assume these are small because they will eventually correct over a reasonable time period).

If this theory holds then does it put an upper limit on the price of bitcoin? If Bitcoin was currently worth 100x at $31,500 per coin right now it would logically mean 3.57% of the grid is being used to service bitcoin mining, and 3.5% would have a significant impact; power starts to become a scarce resource that needs to be allocated efficiently (i.e., cost increases). At $31,500 per coin BTC has a fully diluted market cap of $655B which would make it about the size of Apple. It is not beyond the stretch of imagination that a crypto-protocol, with all of it's payment processing functionality, brings that kind of value to the market (e.g., it's not like $5T or something to high of a percent of global GDP to be a credible theory). The price can go beyond this as it just serves to reward miners with more advanced hashing equipment (higher hash/W) or simply increase the profit margin of miners (which would then collectively go into advancements in technology), so round and around we go.

Basically, I have no point. But it's interesting to think about.
335  Bitcoin / Bitcoin Discussion / Re: What would people think if I created a Bitcoin jobs board of my own? on: December 18, 2014, 07:25:21 PM
It would be a good idea, there have been one or two already created but the long term problem you'll have is people making shit posts and just spamming, it's something that even plagues your regular job search sites because most job sites I've looked at are filled with marketing scams.

I personally wish we could have some kind of combined effort on the internet to get rid of these blatant spammers actually but it's something that's clearly going to be with us for a long while.

You're right; one problem I have with other Bitcoin jobs sites is that they don't seem to do a very good job of policing their own sites to get rid of the scams and Spam. I want to create a legit jobs board, though, so I'll probably spend part of my time policing it for anything that looks "off".

You could have their be a charge, even if small, for both posting work solicitations and jobs. It's like the idea of charging $0.01 for email senders. Any legitimate person would pay this amount (and gladly so, as to no longer receive spam). I've been thinking about a doing up a good job board as well, though bootstrapped in Rails, not wordpress.
336  Bitcoin / Bitcoin Discussion / Re: Bitcoin live transaction visualization. on: December 18, 2014, 05:55:22 PM
Now I'm waiting around to see how big an $80M transacation is....  Grin

The "ball" would have no noticeable curvature I assume?
337  Alternate cryptocurrencies / Altcoin Discussion / Re: XRP RIPPLE LATEST NEWS REQUESTED on: December 18, 2014, 05:53:28 PM
I have my addy and secret key and cannot get the migration to work.  Anyone else having issues???

Did you use this link and enter your name and password? It worked OK for me.

https://rippletrade.com/#/migrate

Thanks for reply. I did eventually get that to work.
338  Alternate cryptocurrencies / Altcoin Discussion / Re: XRP RIPPLE LATEST NEWS REQUESTED on: December 18, 2014, 05:52:35 PM
I've fallen in love with ripple all over again. I wonder which one of the payment processors (nxt, xcp, maidsafe or xrp) will crack the big beehag...

*gets popcorn*


339  Alternate cryptocurrencies / Altcoin Discussion / Re: XRP RIPPLE LATEST NEWS REQUESTED on: December 17, 2014, 05:53:15 PM
I have my addy and secret key and cannot get the migration to work.  Anyone else having issues???
340  Economy / Speculation / Re: TIME TO BUY on: December 17, 2014, 08:21:33 AM
Panic's coming to the streets, and investors know it  Grin
Once people wants to buy, they're like:


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