The margin cost for mining a bitcoin in the long run is basically the energy cost involved, and vise versa.
Whatever you see is the stable average price of bitcoins, multiply by 50, and you should see the amount of $ roughly spent by the network in energy every 15 minutes. This of course is a lagging indicator, but over the course of a year, it should be a good approximation.
Keep in mind, this is not all waste either. I was considering at the end of this summer, buying some hardware and using servers as sort of space heaters in my house. The energy->heat conversion is the same when produced through a computer or through a space heater, except with the advantage of making bitcoins in the process. I was going to hook up a digital thermometer to control the software to turn off and on the miner to achieve the desired temperature in the house.
It would be great to figure out a way of storing the heat and using it to cook with as well.
You mean every 10 minutes  Not as efficient as a heat pump... Storing heat is an interesting problem addressed in the solar thermal industry. Large tanks of hot water, large beds of stones, etc. |
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You already have one loan which you did pay back, right? Questions: Since you are not a miner (see quote below), how do you plan to get the 11 or 12 BTC to pay me back? Do you owe your friend BTC or do you owe them something else (like USD)? Is the friend that you used to pay back senbonzakura the same friend you now owe BTC? I know im pretty new but wanted to know if i can get a 1 btc loan, will pay back in 2 days. Waiting for a payment from a friend.
I am making a bitcoin accepting site, but more details on that on another topic, anyway it would help me alot - Let me know i you can.
P.S i know you need 20 posts for a loan but since its only 1 btc i wasnt sure if i still needed 20 posts?
Would like to be whitelisted,
I am developing a micro lending crypto-currency site, and i would love to post out of the newbies area, I also have future projects in which uses bitcoin.
I do not do mining, as my computer is pretty old and i would not make any profit. But i have borrowed from IBB and payed back. Not only that but im pretty active reading threads/posts on the forums.
Thanks in advance if i can be whitelisted.
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Hmm It says Jr. Member - Does that mean im already whitelisted, im sorry im new to this.
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I also sugget you use bitaddress to create paper wallets. It works and is free. You can create as many as you want.
Next you can fund each of these by sending BTC to each public address.
Then to get the BTC off the paper wallet and back into the Bitcoin client wallet you can use the pywallet program to import the private key from the paper wallet.
Hope that helps.
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Thanks for the quick repayment. Will lend again anytime.
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Most of the funds were moved out of my account also. But this does not prove anything.
If scam: they were moved as needed to pay other's withdraw requests.
Not scam: moved as needed to their main wallet to fund the operations.
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If you look at actual activity on the lending sub forum you will see what has developed: very short term loans at very high interest rates. That is exactly what you would expect.
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Assuming for the moment it is not a scam then they are doing exactly what we would expect to happen in an totally hostile environment where the government has and is cracking down. Isn't this exactly the environment that we expect Bitcoin to thrive? If I lived in a country where I was no longer able to have cash - all transactions are by law now tracked - then I would be looking around for a way to take advantage of the obvious black market opportunities caused by such government stupidity.
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Also P@40 is no longer accepting new accounts.
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Trying to calculate how many bitcoins is a KwH is kinda like trying to find angels on a pinhead.
I do not think it is that hard to estimate. I did this a while back when the difficulty was 1,564,057. The average number of hashes per block is difficulty * 2^32, for example 1,564,057 * 2^32 = 6,717,573,664,079,872 = 6,717,573,664 Megahashes/Block Using an estimate of 2.3 Megahashes/Joule (a good GPU) yields 6,717,573,664 / 2.3 = 2,920,684,201 Joules/Block Finally 2,920,684,201 Joules/Block is 811 KWh/Block In order to include cooling and other losses double this number and round down to make the math easy, how about 1,564 KWh/Block at a difficulty of 1,564,057 At the current difficulty of 1,250,758 I would estimate 1,250 KWh/Block. |
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Who the hell is Joe? I thought his name was Luke. I am so confused.
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So the title of the thread should soon be changes to "Sold" instead of "Selling"
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I will buy them if you have not sold them yet.
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Signing up to check it out.
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As I stated above: https://bitcointalk.org/index.php?topic=57175.msg680818#msg680818the first and repeated question you are going to get is "how do we know you are not selecting your buddy's ticket to be the winner". Even if you release the code that selects the winner, or even if you released all of your code, this does not prove you are randomly selecting the winner. It looks like you may be kind of new around here so you many not know that due to the irrevocable nature and relative anonymity of Bitcoin transfers many members of the Bitcoin community have been personally ripped off or seen others be ripped off in many different and creative ways. This means that the customer base you are dealing with, your customer base, is a lot more skeptical and paranoid than the general public. You really need to know and understand this and take it into consideration in any new Bitcoin venture. Your points that people generally trust and believe certain things in the general population, while possibly true, have no purchase within the Bitcoin community. Your competitors have found ways to get around this by having an external publicly available and publicly verifiable way to select the winner. You are and will continue to be at a huge disadvantage to your competitors until you solve this issue. |
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I totally missed it. How long did it take to fill?
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After discussion in irc, it is indeed impossible,
What needs to be clarified is the fact that every end point transactions are backtraced to the originating block.
A lot of people miss that. Even when you mention the word confirmation. People think of it as a receipt at the checkout counter, not an actual trace of all transactions involving a given coin.
He admitted he made a mistaken. I have made many as I learned exactly how it all worked. We all have made at least one. |
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I am planning on attending. Should be fun. Just a hop skip and a jump from Colorado.
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