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Just FYI, FreeMoney is in the middle of a move, and doesn't have regular internet access, so it may be several days (possibly longer) before he is able to send any bitcents your way.
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Did anyone find out what Bruce's big announcement was?
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Ya but it's not like if you can be the McDonald of Bitcoin. What so special will you do to make your Bitcoins business so much more lucrative than the other one?
Doesn't really matter if it's more or less lucrative than the other one. As long as it's lucrative, it's lucrative. |
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That's a lot of damn BitCoins.
Obviously depends on what area of Meza and the size of the house, but just taking a look on Zillow I see a lot of $200k+ houses for sale, which would definitely rent above $1000/month. |
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I will agree to most any loan terms.
There has to be some sort of contract we can make up that would technically make the loan $USD, and I could sign it and fax it back, so it could hold up in a small claims court for you.
I'm sure BTC aren't covered, but if the loan is in USD and we just so happen to make the exchange with BTC I'm sure it would be covered?
As long as he gives you a receipt for proof of payment, it's gravy. |
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Since you brought it up JohnDoe, I still haven't been able to really figure out the difference between demurrage and inflation. If we had a 5% demurrage rate, but 4% inflation, wouldn't any GDP growth above 1% cause prices to rise?
What about DollarCoin? Someone starts a blockchain with a 14T coin genesis block, and no other coins would be generated. A very small demurrage rate would ensue on any coins NOT in the original genesis block (say, 0.285%, to make up for lost coins). The person managing the blockchain would guarantee to buy and sell the coins for $1 a piece.
Aside from being centralized, does anyone see a problem with this?
It requires an initial capitalization of 14 trillion USD to be fully sustainable. Nope. If I have 14T coins, and the only way for someone to get one is to buy a coin from me for $1, but I guarantee to buy it back for $1, then all I have to do is ensure I have enough USD stored to cover the outstanding coins. I question the legality of it though. With it being centralized, I could imagine the government could (and would) shut it down pretty quickly. |
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Since you brought it up JohnDoe, I still haven't been able to really figure out the difference between demurrage and inflation.
There is no real difference. You are reasoning correctly. The only distinction is a purely nominal one. Unless psychological illusions are introduced, demurrage and inflation produce identical real outcomes. In theory, perfectly predictable demurrage yields real outcomes 100% identical to those under perfectly predictable inflation at an equivalent rate. Demurrage: Monetary outcome: I have 1 coin. If I store my coin for one year, it erodes to 0.5 coins. Price of a coke is constant over time at 0.5 coins. Real Outcome: I choose between purchasing two cokes now or one coke one year from now. Inflation: Monetary Outcome: I have 1 coin. If I store my coin for one year, I still have 1 coin. Price of coke increases from 0.5 coins now to one coin one year from now. Real Outcome: I choose between purchasing two cokes now or one coke one year from now. Notice that the real outcomes are identical. If the real decision you make (drinking a coke now or drinking a coke one year from now) remains the same, then the two monetary systems are equivalent in real terms. You might ask why there is so much fuss about demurrage then? I think the simple answer is that the discussants are not well trained in economics. Confusion abounds and ignorance reigns. There is a lot of focus on money velocity here. In Keynesian economics, both increases in inflation and increases in demurrage have positive affects on velocity. People want to sell their coin for goods before value erodes. However, as you can see in the Coke example, the real effects of inflation and demurrage in this respect are 100% equivalent. In that case, I would prefer demurrage because it keeps prices stable. Even though it is a purely psychological benefit, it's better than no benefit achieved with inflation! However, I'd still like to see a deflation rate roughly equal to GDP growth, again, with the purpose of keeping prices stable. |
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Catfish, that was a far lengthier reply than I was requesting - a simple "no" would have sufficed.  That said, thanks for writing all of that! Makes sense that transistors simply increase resistance to force the electricity to another path though. No physical movement involved. So, if that's the case, then Kermee is wrong - it's not "basically" 100% of electricity is direct heat loss - it IS 100% electricity is direct heat loss. Unless you happen to have glowing-hot semiconductors, which, probably won't last long anyway.  More like 50w if your sempron is just idling while mining...
Total, 200w would be my guess.
Then again, it also depends how efficient your PSU is... add 20% or more to those figures for the heat loss from the transformers in the PSU.
I'll just post exact specs. MSI 890FXA-GD70 corsair 1200watt gold series sapphire hd 5850 2x1gb ram this hd ( http://www.newegg.com/Product/Product.aspx?Item=N82E16822136770&Tpk=22-136-770) Sempron 130 At 920/325 I get around 1kw. I'm too lazy to find exact numbers feel free to figure it out if you want. That system cannot possibly be drawing 1kw of power, unless you have multiple GPU's. I calculate it would use about 230w, PSU efficiency included. |
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Wow... that's the first time I've seen the buys higher than the asks in a long time! I am feeling bullish indeed right now.  |
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Since you brought it up JohnDoe, I still haven't been able to really figure out the difference between demurrage and inflation. If we had a 5% demurrage rate, but 4% inflation, wouldn't any GDP growth above 1% cause prices to rise?
Oh, and here's a new thought I had. What about DollarCoin? Someone starts a blockchain with a 14T coin genesis block, and no other coins would be generated. A very small demurrage rate would ensue on any coins NOT in the original genesis block (say, 0.285%, to make up for lost coins). The person managing the blockchain would guarantee to buy and sell the coins for $1 a piece. So it would be completely and entirely backed by the dollar.
Aside from being centralized, does anyone see a problem with this? Seems like a good way to create a completely stable currency. Well, stable compared to the dollar anyway.
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I haven't seen this steady of an uptrend since... well... a while ago. |
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HOLY wall of text! Seriously, I can't read that...
EDIT: The OP fixed it, thanks!
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Per day? Per month?
Anyway, 1800MH/s is getting me about 0.95 BTC/day right now. Which means, 1MH/s would get 0.0005278 BTC/day.
So, 1MH/s will net you $0.00612/day.
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With 2.4-2.7GH/s I'm not even getting 1 BTC per day. Lady luck has my balls in a vice clamp. I was at BTCGuild for 2 weeks only to have those horrible bad luck days (only 1 day was positive). I bailed and went to slush only to see them go negative for the last 2 days and BTCGuild of course is now running some insane 200% luck since I left. I'm going to go lay down on the freeway now  I've been averaging about 0.95 BTC/day with 1.8GH/s now. Sad to see it finally drop below 1 BTC.  BUT, it sounds like you went to the scammy pools. Get on deepbit - they actually pay properly. I don't know what shinanigans go on in those other pools, but I've tried them, and it just didn't seem like I was getting as much on the payouts as I do at deepbit. BTCGuild especially I am suspicious of (and other people that I've seen post about them)... |
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This is true. I am assuming a stock card when I say 150w, and even then, that's not really an exactly accurate number.
Yes I agree that's an estimate on my part but I have a semperon so 150w for mobo/ram/cpu/hd is a pretty safe bet. More like 50w if your sempron is just idling while mining... Total, 200w would be my guess. Then again, it also depends how efficient your PSU is... add 20% or more to those figures for the heat loss from the transformers in the PSU. |
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When the Bitcoin client loads up, it only checks that the last 2500 blocks in the chain that it has are valid. Beyond that, you can change anything you want in the previous blocks without effecting what the client thinks the block hash is. Remember, the data on disk is assumed to have already been checked by your client, so there is no reason to check it on every startup. If it did, it would take hours to start your client. That said, I have to thank you. I just discovered an undocumented command line option: -checkblocks. If you use that, you will be safe if you download an untrusted blockchain and put it in your data directory. for (CBlockIndex* pindex = pindexBest; pindex && pindex->pprev; pindex = pindex->pprev)
{
if (pindex->nHeight < nBestHeight-2500 && !mapArgs.count("-checkblocks"))
break;
CBlock block;
if (!block.ReadFromDisk(pindex))
return error("LoadBlockIndex() : block.ReadFromDisk failed");
if (!block.CheckBlock())
{
printf("LoadBlockIndex() : *** found bad block at %d, hash=%s\n", pindex->nHeight, pindex->GetBlockHash().ToString().c_str());
pindexFork = pindex->pprev;
}
} Line 474 in src/db.cppSo a potential attack might go like this: - Create corrupt blockchain, showing that you have 100,000 BTC at a particular address from a transaction back in block 100,000. - Get more than 50% of miners to download said blockchain (impossible, given that major pools make up far more than 50% of hashing power, and they already have the blockchain) - Send those 100,000 BTC to another real address. The miners with the corrupted blockchain would accept the transaction. - Spend, spend away! What other concerns might this present? |
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CPUs, GPUs, uC's, and most other semiconductors are less than 1% efficient.
So yes, basically 100% of TDP comes off as heat.
Cheers,
Daniel
Do transistors actually move? I'm not familiar enough with how they work to know the answer... A 5850 only uses about 150w.
Overclocked 5850's generate more than this  My rig is set up for 920/325 and its 5 cards. According to my kw reader its about 1kw so closer to 170w per card. This is true. I am assuming a stock card when I say 150w, and even then, that's not really an exactly accurate number. |
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I'm just saying though, both of you guys are directly responsible for the price not already being high. The more you sell as opposed to hold/spend the coins the more resistance there is to the price. So even if the price does go below 7 or anything, you still can't ever complain. except dubs'420' though, i hope he's spending it on something real special  And your point? If I don't sell, I have less USD than if I do sell. I don't care if the price goes higher if I'm not selling... |
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I'm just saying though, both of you guys are directly responsible for the price not already being high. The more you sell as opposed to hold/spend the coins the more resistance there is to the price. So even if the price does go below 7 or anything, you still can't ever complain. except dubs'420' though, i hope he's spending it on something real special And your point? If I don't sell, I have less USD than if I do sell. I don't care if the price goes higher if I'm not selling... |
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Ooooh, feebay, I'm gonna have to use that one in the future!
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