why is this? shouldn't the increase in terahash bandwidth cause an increase in price of btc?
i mean it means that more people are fighting over blocks and its rewards
And how does that increase the price?  Do people pay to see these guys fight for blocks? Yes, there are more people fighting for the block. But why should i pay a block more? If a block is worth x$ then i'll pay x$, no matter how many people fight for it. The World Bitcoin Mixed Martial Arts cage match on Pay-Per-View! Watch as miners fight for blocks of bitcoins! |
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We have had almost three difficulty increases in this last month, the hash rate has increased.
Did you even take the time to look at the hashrate-chart? It has been everywhere between ~19TH/s and ~24TH/s within the last 30days, right now where at ~20TH/s, so where exactly has it increased? Are you really trying to argue over the fact that the difficulty is going up (meaning = the average hash rate is going up by definition)? See the actual data in this post: https://bitcointalk.org/index.php?topic=115333.msg1243847#msg1243847 It is just silly to argue over facts, because, well, they are facts. |
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IMHO, the only scenario where an additional BTC address space with a different valuation may become useful is e.g. if smaller than 1 satoshi denominations are required (This way you could expand the number of digits without actually changing the number of possible digits a bitcoin can cover).
We have such a long way to go before we even need to think about this. By the time one satoshi = one dollar, one dollar will be worth almost nothing. At any rate if one satoshi = one dollar then the current Bitcoin protocol can eventually cover $2,100,000,000,000,000 Well come to think of it at the rate we make dollars every day that might be the total number of dollars in existence by that time. |
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In the same way a $5 bill is worth five $1 bills. What challenges would this present? Is this technically feasible? Would it help stabilize the currency? Discuss.
Again, I simply still do not understand what the heck you are talking about. The purpose of $5 bills is so that you can carry 5 dollars in your pocket using 1/5 the mass and volume as five one dollar bills. With a $100 bill I can carry around 100 dollars using 1/100th the mass and volume as 100 one dollar bills. Now how does any of this really apply to Bitcoins? I can "carry arround" Pirate's 500,000 BTC on a Bitcoin address and it "weights" the same and has the same "volume" as 0.00000001 BTC on a Bitcoin address. Unless you are really talking about physical BTC or physical BTC bills then they already exist. We already have people making 1 BTC coins, 25 BTC coins, etc. and 1 BTC bills, 10 BTC bills, etc. But physical BTC coins and bills have other security concerns and paper/coin money is passe, don't you think? Please explain your idea in more detail. |
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In the same way a $5 bill is worth five $1 bills. What challenges would this present? Is this technically feasible? Would it help stabilize the currency? Discuss.
In the same way 5.0 BTC is worth exactly five times 1.0 BTC. We can also do 10.0 BTC, which is, you guessed it, worth exactly ten times 1.0 BTC. WTF are you talking about? |
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Scroll down to the charts at the bottom of the page at this link and look at the various charts. http://bitcoinx.com/chartsSo now you do not need to guess at what is happening. You can just look at what is happening. |
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Price of BTC goes up -> More people mine -> Network hashrate goes up
Price of BTC goes down -> Miners take a break, give up, go back to playing games, etc. -> Network hashrate goes down
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Which gets me wondering, does Vanitygen search the entire keyspace? (*)
If not, what proportion of the entire keyspace does it search?
(*) What about addresses associated with compressed keys?
What I understand it does: 1) Generate a random private key (or increment from the previous random private key) 2) Calculate the corresponding public key from the private key 3) Calculate the corresponding bitcoin address of the public key 4) Compare, if there is a match output else go back to step 1) Does that help to answer your question or not? |
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Ok, and you are sending a minimum, paying a small fee just for the lulz of it.
*Sort of* like buying a tile with your name on it at your favorite local restaurant...
Yes. Please keep asking questions. We were all noobs once upon a time. Ignore the flames and press on. |
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lol
Why is there money in there?
You have to send some money to an address in order for it to be "claimed" and appear in the block chain for everyone to see. Remember ALL the BTC sent to all of these addresses is lost forever. |
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It can't be totally random. It has to be "legal" (bitcoin addresses have a built in checksum). But it is easy enough to create a "legal" address without knowing the keys, send some bitcoins to it and they will be lost forever. Here is an example: https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuERead the address very carefully - it is very honest. All of the bitcoins sent to this address are lost forever. |
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You can call me:
SIR STEALERBULL OF THE MONEYFIST
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Yes, it looks as if I lost that bet. LOL  |
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Some new sub woofers and speakers for my car. And my license was recently suspended due to probation, but what other form of ID would work?
I really want to put this as my signature - it is such a nice subtle funny total fail - but I will have to wait on the contest to end. |
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People are selling ad space in their signatures. You can cut off signatures in your profile settings if you don't want to see them.
Sweet! Thanks for the tip. Now that annoying bozo who makes 1000's of pointless 1-line posts to freeload on advertising will annoy me no more. I forgot who that was, but naturally the guy was a blazing Libertarian and there seem to tendency for them to freeload at every opportunity. Oh ya, ~imsaguy I think. No, his name was Bitcoinporn. Are you sure you are not talking about Atlas? No, Atlas is a little suicidal drama queen hermaphrodite that makes himself entertained by sturring up shit on this forum while rubbing his peniclit. Bitcoinporn was an annoying bozo who makes 1000's of pointless 1-line posts to freeload on advertising his pornography selling sig-line. Ah, thanks for clearing that up  |
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People are selling ad space in their signatures. You can cut off signatures in your profile settings if you don't want to see them.
Sweet! Thanks for the tip. Now that annoying bozo who makes 1000's of pointless 1-line posts to freeload on advertising will annoy me no more. I forgot who that was, but naturally the guy was a blazing Libertarian and there seem to tendency for them to freeload at every opportunity. Oh ya, ~imsaguy I think. No, his name was Bitcoinporn. Are you sure you are not talking about Atlas? |
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