BTC will be worth the equivalent of millions of $$$ by 2056.
Maybe. but pretend it is 2.8 million in 2056 100x what it is today. so 0.00000227 x 2,800,000 = $6.35 usd for the smallest possible payment no ordinals or nfts all banned. So if all block is filled with 2000 tiny transaction of $6.35 or say 0.00000227 you could have as little as 0.00454 btc plus 0.0122 reward or blocks as low as 0.01674 BTC at 2.8 million and that means just 46,872 Usd a block no-one will mine so 100 x .5 trillion = 50 trillion in value with less gear than now even if average fee is 10 sats a byte you go to 0.0454 in fees . Now we know average fee per tx at the moment is not 0.00000227 it is more like 0.00015 or 0.15 for the block with ordinals and with NFTs boosting fees so 0.15 + 0.0122 = 0.1622 btc a block or 454160 usd a block vs 175,000 only 2.5952 the earnings for a miners with price going up 100x so with ordinals and NFTS's doing what they do btc still has issues when it comes to supporting 2.8 billion price. You can't expect miners earnings to increase 2.59 x 1 when price coins up 100 to 1. which is the case of projecting out to 2056 and keeping ordinals and NFTs. never mind dumping them. Well I will be 99 so why care. but if you are 30 you will be 63 younger than I am now. So you should care. |
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It seems Like Bitcoin Mining Difficulty Hits Another New All-time High Today.
...
47.0846 T And as has been asked elsewhere 'Another new all time high' is newsworthy or cause for concern, why? Ever since Bitcoin began difficulty has almost always hit a new ATH every epoch. Ja very occasionally it goes down a bit but the main trend is always UP. It's part and parcel of how BTC works... That said, it certainly does translate to huge number of miners going online... I guess 350eh or 350,000 ph or 350,000,000 th or 3,500,000 100th s19 pros pulling near 75kwatts a day which is 262,500,000 kwatts or 262,500 megawatts daily of which 1.25 megawatt are my solar arrays. A mere drop in the bucket. Those power numbers are the daily numbers> for all the miners in the world as compared to my little solar array. there was a time I mined 1/1000 of the entire network in my garage on a lot of gpus. I can only dream of what I could have done if I knew what I was doing back in 2012. |
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It seems Like Bitcoin Mining Difficulty Hits Another New All-time High Today.
How do you feel, Phil?
47.0846 T
Lucky that an F2 tornado with winds at 120-130 miles per hour missed my house by 2500 feet. Now with difficulty going up up up and away my mine has grown from a low of 1.2 ph to 2.7 ph sept 2022 to march 2023 diff went from 31 to 47 so I am keeping up and exceeding the diff growth also price was 19.8 and is now 28 which is also in my favor. lastly eth died in sept of 2022 my gpu gear dropped in earns from 9000 to 900 last month gpu earnings have rallied a bit say 1500-1600 a month. So I am ready for whatever. no debt excess power all seems well other than a f2 or f3 tornado |
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Buying coins is almost always wrong if you have cheap power.
Buying gear is almost always correct if you have cheap power.
For all the years I mined 6 cent power turns power almost every day mining ever existed.
not so true for 10 cent power.
Bear markets are good for me as I get to buy gear cheaper.
we went from 1.2 ph in sept 2022 to 2.7 ph in march 2023
cost of gear was far far lower than it was in April 2021.
power cost 0 to 6 cents buy gear slow but sure = winner
power cost 6 to 9 cents harder to know if coins or gear is better.
power cost 9 to 14 cents very tough to mine buying coins is more often best shot.
over 14 cents don't mine maybe a little for fun or hobby
over 25 cents forget about it. buy coins via DCA method.
If all cases above do not buy so much that you are in real financial trouble.
A week ago a f2 Tornado with winds at 120-130 miles per hour missed my house by 2500 feet.
So you could have a great mine with great gear and by by if Mother Nature says so.
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Look it boils down to this watts per dollar. Or as satoshi says energy into value.
since Sept 1 2020 to now scrypt algo has generated more dollars per watt.
Why is that simple doge does not half it slowly lowers its inflation rate every year it mints.
year 1 = 1x coins
year 2 = 2x coins or 100 percent inflation
but year 100 = 100 x coins grand total minted
and year 101 = 101 x coins or an inflation rate of 1%
and of course ltc will be ½ ed downwards till almost nothing.
Meanwhile in 100 years BTC will be ½ to next to nothing.
So in the long run the reward fee issue for mining appears to be okay for scrypt
while the reward fee issue is up in the air for BTC say 256 algo.
Myself I was born in 1957 all my kids are dead so I don't look past 2056 I will be 99 if I am around
very likely I will be gone. So it is easy for me to say fuck ordinals fuck nfts fuck confiscating frozen coins and feeding them back to the rewards. No no NO no.
I don't say that as I see a huge problem by 2056.
I do no tis it solved. BTW a 500k coin with .3877 in fees and .0122 in rewards means 2056 blocks are worth 250K
they are worth 196k now
so 500/28 = about 18x the market cap
and only 250/196 = 1.27 the infrastructure to protect that.
makes an attack more effective.
even at 1 mill. a coin
1000/28 = 36 x the market cap
500/196 = 2.57 the infrastructure to protect that and fees will be pretty high
387000 usd a block would mean at the least 387,000/2000 = 193 usd a transaction
and if the block has 1000 transactions 383 usd a transaction
many blocks are filled with 200 to 400 transactions. which means 1000 to 2000 a move for a very basic transaction
it will not work well with out a thriving market in something to be worth moved. (ordinals and NFTs)
LN would become a freaking beast for the system to hold true.
BTW other ideas may come up that will help I just don't see them.
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hello friends how about luck
"workername": "bc1q66jn6pumq8dvvkdpwwhjlsxx6p7wnd84jycf9p.m21ss",
"hashrate1m": "44.4T",
"hashrate5m": "50.1T",
"hashrate1hr": "45.4T",
"hashrate1d": "4.37T",
"hashrate7d": "1.93T",
"lastshare": 1680731662,
"shares": 746282560,
"bestshare": 155870277252.0747,
"bestever": 155870277252
0.746282560 G of work done already. So with the current difficulty of 46.84T (which will probably increase during the next diff adjustment in around 10 hours): 46.84T = 46840G So you have an idea of how much work you have to do if you want to mine a BTC block with an average 100% luck. to mine 1 block a day you need 1/144 of the entire network. that is about 2.3 eh! or 2300 ph or 2,300,000 th which is 23,000 s19's pulling 3.1 kwatts an hour or 75kwatts in a day x 23,000 = 1,725,000 kwatts 1725 megawatts for 1 block of btc at 10 cents a kwatt 17,250 usd in power which does not count the gear or the infrastructure. |
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3exa, that's just 30 000 S19, it does feel strange with price knowing at 30k levels to have only this small rise when we had a 25Exash rise back in January when things were really bleak.
3exahash is 100mw worth of power assuming the best gears, it not just the number of gears, you need to check the power needed for them to run, 100mw is no freaking joke, that is a whole turbine or 1/5 of the a whole gas plant according to plants i have seen in my country, it is of course easier to produce in a place like the U.S, but it is certainly not easily doable every 2 weeks when you start wanting 300mw and whatnot. I think a part of why hashrate kept a high pace is swapping old gears with new, whereby most of the infrastructure was already there, there is almost noway on planet earth one can deploy 25eh from scratch in 2 weeks. Yeah between power settings and gear swap a large up or down tick is easy. 30,000 100th s19's full speed are 30,000 x 3 = 90,000 kwatts or 30,000 100th s19's low speed are 30,000 x 2 = 60,000 kwatts so 50% power jump hash rate top speed is 3.0eh or hash rate low speed is 2.4eh. 25% hash jump Here in the USA we do have idle coal plants I found a list of working plants https://en.wikipedia.org/wiki/List_of_coal-fired_power_stations_in_the_United_Statesfound offline plant list https://en.wikipedia.org/wiki/List_of_decommissioned_coal-fired_power_stations_in_the_United_States#Decommissioned_coal-fired_power_stationsand there are some big ones the Navajo one in Arizona is 2250 megawatt it was shut down in 2019 for all we know it could be mining right now and simply keeping the power generated for mining on site. Navajo Native Americans have their own set of laws. Maybe it is a huge mining site. But even if it was it still takes time to build a mining site. They could do 500,000 s19's that would be 50eh! https://en.wikipedia.org/wiki/Navajo_Generating_Station |
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The introduction of inscriptions on Bitcoin’s mainnet made the creation of Ordinal NFTs on the bitcoin Blockchain. I have read lot of negative comments about the effects of Ordinal NFTs on Bitcoin Blockchain and so I would like to know why it was still created despite negative effects it can have,Although there are some positive comments, The negative comments are something that can cause stressing issues later on.
In short: greed. Some people got carried away with a possibility to sell monkey pics to gullible peeps, that's all. Miners got excited too as they're earning extra buck for processing spam transactions. Again, it's greed.  Anyone could call it greed, but to put it more simply, it's actually just Incentivization. In a decentralized system such as Bitcoin, to have everything constantly working and sticking together, the miners must be incentivized to do their job, or be penalized if they failed or if they didn't do anything. Excellent post. While my first thought is to bat-slap serveria.com for saying miners are greedy, you managed to make a much more intelligent reply. As I type I am mining with 3 other people one 3 locations. Due to mining we have built a 280 kwatt solar array. and a 45 kwatt solar array. These produce about 1.25 megawatts a day. This is real wealth created by BTC's financial incentives. I love NFT's and Ordinals for the ability to continue to incentivize mining of BTC. I am 66 I so wish I was 36 as I know mining coin with my partners will allow us to build more solar arrays as long as mining continues to sweeten the pot so to speak. If I was 30 years younger I would operate a bit differently. I see all of this as Satoshi's idea of turning energy into coin. So I am pro mining my biggest issue is many people do not see what I see. BTC could be used to help pay for 1000 megawatts of solar every year. Throughout USA and rest of the world. Below is great adventure in New Jersey Notice only ⅓ of the parking lots have solar. One of my partners has the service contract to keep the panels they have running. He has talked with them on and off about expansion to more of the parking lots. One of the talking points is they can earn money mining when the park closes from Jan to April.  Now we see mining for what it is watts turn into coin. As solar business is real and working we rather BTC stay on top of things and figure ways to keep its rewards and fees for mining. But to be honest scrypt algo since 2020 fall which is around 2.5 years has been better for us than BTC. mining LTC/Doge makes more $$ per watt than mining BTC. And here we have a thread with many people arguing against putting more reward/fee money for BTC Our main business is not mining. 2 of us own warehouses 1 of us owns a solar business 1 of us me is a retired Navy veteran So attacking ordinals and NFTs simple makes us diversify into Gpus and Scrypt. We are very green and want to be more green. Rather than hurting us simply attack miners that do nothing to make the industry green. one last thing is if all mining dies and all coins die, we will still have solar arrays with 20 years left on warranty making 1.25 megawatts a day which is about 1250 x 14 cents = 175 dollars a day in power or $63,875 a year |
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The Thread is old. It was created in 2021. In Two months, He will be 81. He is still active, BTW. About Active oldest forum member. I consider the login date. So, It's Sirius, in my opinion. This is a mystery why he did not post anything after 2014. Who knows? Maybe Satoshi is hiding somewhere and laughing at us. I may be the oldest combined person here. I started in 2012 and I am 66. but I am the 64500 or so person to join. So there could be someone older that started sooner. theymos is active and is sooner but I am older. Jet Cash is later 2015 but he is older. So they beat me in one case and I beat them in one case. I wonder if any members that began in 2011 are older than 66. They would beat me in both cases. |
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and yes it works I was looking to do a big merit dump for a good post thanks. 
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Solo mining as the name implies, 😊 is like playing gamble.There's no assurance that the miners would get something at the end. Although it's all about luck.
exactly which is why you need careful management of your gear if you do a little solo mining. |
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With everything I have read. I say solo mining is no longer profitable except you have good ASICs Hardware and go electricity which only increases the odd.
So basically mining pool is better now
solo mining with good asics and cheap power is the wrong move. if you have a 100th machine that burns 2.5 kwatts an hour it is a very good machine if you have 4 cent power it is cheap. that machine would cost 10 cents an hour to run or $2.40 a day 100 th pre power makes $7.40 thus 7.40-2.40 = 5 a day for sure vs who knows with solo so mine 100 days on a pool pick up $500 then mine 1 day on solo and maybe you get lucky. in 1010 days you have $5,000 for sure and maybe you get lucky with the solo |
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Could do desalination as well. A lot of desalination plants are set up next to industrial facilities to utilize waste heat.
Something for California to consider. But they won't |
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Those Bitcoin Maxi Carnivores are going to love this Brisket idea!
But I was thinking more along the lines of converting thermal energy into mechanical or electrical if the exhaust was hotter.
Actual implementation of anything like this is going to take 100s of millions of dollar or even more, so not really expecting anyone to just come up with a solution.
But if we can motivate an ASIC hardware manufacturer to have recoverable heat that can be converted to work, that will be huge.
It will also address some of the environmentalist's concerns who think Proof of work mining is doing useless work and just converting electricity to heat.
you could slow cook tons of food in an industrial plant. you could heat apartment house hot water. But getting chips to do 450c or more is not very likely . that would be cool if you could since 450c would do a turbine. but solar power plant and chips heat water to 100c. then run the 100c water through mirror array would give you superheated steam for 4 or 5 of 24 hours. https://www.ebay.com/itm/394348147736?So while the sun is up you could generate a steam driven turbine. hmm actually sounds like a fun idea. |
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Damn, not 6.15 BTC and not 6.15 in ..... you know.....  But well, one can grow..... Well at least I have one of those beat. |
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Bitcoin speculation is an overly hard thing to do because of bitcoin's volatility and unpredictability, and any prediction that projects a high market in the next few months may b high-risk speculation and basing its possibility on Sec is another sceptical approach since we don't know what the sec will put out later.
But is best for the moment and most favourable to invest spare money so that you won't be under pressure when you need to wait longer than you speculated due to volatility.
They have to raise it at least one more time. >>>> lots of face saving involved and they look weak if they pause or cut here. so 0.25% is pretty much certain. That will be may 3 or so. I think May 3 +25 points June 14 + 25 points we become gray below July 26 Sept 20 Nov. 1 Dec. 13 smart move is dca 20% now 20% May 10 20% Jun 30 leaves 40% for the July 26 move. |
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Usury is an immoral profession in almost every society. But today this immoral profession has a modern counterpart. Its name is banking. And banking is regulated by law.
Making money by prostitution is an immoral profession in almost every society. But today this immoral profession has a modern counterpart. Its name is porn industry. And the porn industry is regulated by law.
Do you think moral concepts are being killed by capitalist imposing laws who want to make more money?
You do realize usury is defined as excess rates of interest far higher than the norm? "Dictionary Definitions from Oxford Languages · Learn more u·su·ry noun noun: usury the illegal action or practice of lending money at unreasonably high rates of interest. "the medieval prohibition on usury" Similar: extortionate moneylending payday lending loan-sharking View 1 offensive word ARCHAIC interest at unreasonably high rates. Origin Middle English: from Anglo-Norman French usurie, or from medieval Latin usuria, from Latin usura, from usus ‘a use’ (see use). Use over time for: usury" so if I lend you 100 dollars and want 105 back a week later = usury and if a bank or even I lend you 100 dollars and want 105 back in a year = a legal enough loan |
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Any Plan B disciples still around? He has a new chart, the dots are monthly. @100trillionUSD NEW chart: #Bitcoin market stages 🔵 stage 1: early bear 🟢 stage 2: late bear 🟡 stage 3: early bull <- we are here 🔴 stage 4: late bull This is my favorite chart after S2F, based on 1 on-chain variable. Not prediction, but detection. If you like this stuff, I will update.  https://twitter.com/100trillionusd/status/1643595708329603079I was very critical of S2F & Plan B as the last bull peak was low and his thesis was invalidated. Maybe it was due to COVID & the final China ban? Maybe we would have followed S2F more closely if we didn’t have such a freak event? Shall we give him another go this bull? It would be nice. To have a huge uptick. |
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I understand that the efficiency of current ASIC chips drops drastically at higher temperatures, so increasing exhaust fluid temp seems like a bad idea.
Current ASICs designs are all essentially treating exhaust heat as a nuisance that needs to be discharged.
While this has worked in the past, as this space evolves, anyone who is able to reuse the 'waste' heat will be more competitive than other miners.
The relatively low exhaust temps that we see coming out of ASICS, has restricted the use of this energy to space heating, drying type of uses.
If the exhaust temps were much higher, you could run an engine off of it, to produce mechanical or electrical energy from it. Those are forms that are easier to transmit and store.
Current Silicon based semiconductor and PCB designs can handle much higher temps than <85C temp that's recommended on Antminer S19. In fact, Antminer S9s used to run much hotter than the new-gen miners.
New semiconductor substrates like GaN, SiC & GaAs might be able to sustain even higher temperatures.
Actually spondollies did 120c if IIRC. But that is not superheated steam it would be more or less slightly overheated steam at best. So pretend you do that what good is 100-110c hot water/liquid? Is the benefit of having a hotter liquid (105c) outweigh the better power use at 80c for a mining chip? edit I did come up with this idea slow cooked brisket. you can cook brisket at 210 f to 225 f. 10 to 14 hours it is very good. So liquid cool the chips and you build a heat pump to radiator oven setup that is on view you slow cook the best brisket possible. Of course it would need to be tons of brisket if you have a big farm you need a bigger scale than this one  |
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Gold = 2025.53
Silver = 24.82
BTC = 28,593.20
Dollar = staggering
140,000 BTC not bad for Micheal and co
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