I'm just trying to work this out ....
He's supposed to have had 7500 coins and he mined them in a week on his laptop back in 2009. At one block every 10 minutes each generating 50 coins that's 300 coins an hour, 7200 coins a day and 50400 per week. 7500 of 50400 is 14.88%. Now maybe I'm being dumb and I've made some stupid mistake but if I haven't it does not seem credible to me that he had about 15% of the hashing power mining bitcoins back in 2009.
M
he said a week , maybe to dramatize , could have been 10-12 days, and at that time you couldn't say that there was hashing "power" , the few who tried this weren't keeping their computer on 24 hours except for a few. Still , it is possible. |
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Don't put too much hope in getting your account back. Also sorry about the loss.
But , hope you have learned this for the future:
Never use same passwords for two accounts , no matter what kind of accounts.
Use a different email for stuff like boards, forums, blogs, and different one or maybe more for stuff that really matters (paypal,exchnagers, etc).
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Therocktrading.com an Justcoin.com claim to have about 7000 registered users each. The Rock's 24h Volume is at about 60 BTCs and Justcoin is at about 90 BTCs/24h ( http://bitcoinwatch.com/). Combining the number of users and the 24h Volume and dividing it by 2 we arrive at an average of ~0,01 BTC traded in the last 24h per member. Comparing this to the BTCs traded in the last 24h at btcchina.com results in a number of ~9 million users for BTC-China. Given that BTC-China makes up about one third of the entire volume of all markets ( http://bitcoincharts.com/charts/volumepie/) we arrive at an overall estimate of 27 million people trading bitcoins at exchanges. Trading doesn't mean use..... The whole blockchain has around 27 millions transactions , and there are only 100 000 new ones added daily (although decreasing to 90k yesterday). So actual number of users , of people holding bitcoins and using them , not going over a get rich fast scheme is far lower. |
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It may reached around 40 million in the coming months because of the fast growing popularity of bitcoins around the world.  How can there be 40 millions users with 27 million transactions in the blockchain? |
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Real Bitcoin believers buy coins , use coins , spend them , give a few of them as gifts and buy even more...
Hoarders are not true believers ...
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Don't trust women and finances |
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Briefly hitting 100 k transactions/day.
Now , if there are some selfish miners who include just a few tx on their blocks and we continue to grow we might hit the limits and the backlog will start to grow.
I'm grabbing some popcorn and waiting for the decisions on the block size.
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If you were to acquire the first telephone in the world, how much would you be willing to pay for it? not much, since it will be nearly worthless (you cannot call anyone with it), but the more telephones in circulation, the more desirable a telephone will become.
When cars , telephones , computers appeared they were extremely pricey , only a few managed to get them.
It happened with internet access it happened with plane tickets.
So , you're very wrong on this one.
Also ,this:
- Total Bitcoins mined on a daily basis decrease in a increasing fashion (i.e. total Bitcoins mined today will be less than the ones mined tomorrow)
you're contradicting yourself.
I don't see how I'm contradicting myself. You do understand that bitcoins are data that exist on the internet right? It can't get any more global than that so geographical limitations don't exist in the first place to try and remove them.
If you talk about services around bitcoin then yes there is some imbalance but the market alone will balance things out.
I understand that, physical boundaries are not the issue, the issues here are "awareness" and "return on investment" boundaries..This is the whole point of my post Bitcoin mined today 10 , mined tomorrow 5. Total bitcoins mined today are more than the one mined tomorrow. |
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1- Make it easier to mine Bitcoins in Virgin areas.
2- Create a new currency in Virgin areas that undergoes the same evolution as Bitcoins, and make those different currencies exchangeable at a certain rate
3- Create a flow of Bitcoin donations to users in virgin areas. Not only will this introduce Bitcoins to new areas, but it will in return strengthen the value of Bitcoins worldwide. The more traded Bitcoin becomes, the higher it will go in value and so the net effect will probably become an increase in the total Market Cap of Bitcoins, enough to get back in value what is donated.
Hope this makes sense
You do understand that bitcoins are data that exist on the internet right? It can't get any more global than that so geographical limitations don't exist in the first place to try and remove them. If you talk about services around bitcoin then yes there is some imbalance but the market alone will balance things out. He want's to say something else , I guess. Also , you're a bit wrong with your assumption. Bitcoin might exist on the internet , but they are owned by people , people who reside somewhere. That's why a restaurant where you can pay only with bitcoins might exist in London or NY , but it will go out of bussiness in Monrovia. |
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Nice username , nice title , nice thread, nice first post content. I'm being Ironic here!
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Hi all! Everywhere on forum I read that mining is bad investment but from my calculations it is not: from this calculator: http://bitcoin.web-share.nl/said 50 GHs mines 1.2BTC per month on cex.io 1 GHs cost 0.07BTC so 50 will cost 3.5 after 3-4 months investment should return and than is pure profit for life where am I wrong  You assume that difficulty won't change Once/if Cointerra, knc, Hashfast deliver their miners you won't be making that much anymore This is a very rough estimate , on 50gh at a cost of 3500$ and a difficulty increase of 30% monthly. http://mining.thegenesisblock.com/a/f87aca7a3cPlay with it. |
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http://wiki.mastercoin.org/index.php/FAQDoes Mastercoin have to run on top of Bitcoin?
Well, currently it does, because that is the fastest approach to building Mastercoin. It may do so in the future.
However, in case there are some scalability or other concerns that make us not want to run on top of Bitcoin, we can switch it out for another decentralized layer e.g. a dedicated alt.
Reads like an alternate currency. Overall, it all reads like it is still work in progress. Yep - is still a work in progress. It's not a currency. It is a bitcoin development project. That is why it WAS in the right place. Now it is buried in a bunch of spam crap - 'Free NewCoins!!!!'; 'Free thatCoins'; bullshit. If your project is that interesting it would be on many people watch list. Do you need exposure? Top position in a special thread? Sorry , but this sounds just like what an altcoin issuer would want. Ironic. |
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Set up an escrow fund , and deposit there 0.1 BTC for each referral that has signed up following your link.
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The internet is going to be broken up... What a stupid thing to say. I would like to give you a high five... in the face... with a chair!
How about you research a bit about this magical internet? There are roughly 50+ cables , some of them coming out of the sea on popular beaches , unprotected, that support more than 2/3 of the total internet trafic. Cut those , and you're gonna cry waiting hours for the google webpage to load if ever. What, really? Edit: http://www.dailymail.co.uk/home/moslive/article-1196775/Web-trouble-The-hidden-cables-Cornish-beach-feeding-worlds-internet.htmlGeeze, this is incredible. Why haven't these been terrorised yet haha? There'd be a good film in this. *In cliché movie voice* Imagine a world with no internet.....Because until now there hasn't been a moron with the appropriate tools who wanted to damage them ... If we speak about a country wanting to cut them.... It will take only two medium class warships to take all the cables between America (continent) and Europe in less than 12 hours. Also , all the submarine cables than go to South and Central America run through the US. Geeze, for some reason I find this both terrifying and exhilarating. Sounds like armageddon. There would definitely be a good film idea in this. Edit, Not the film Armageddon lol. Get 100 of them , and you have your Armageddon :0 |
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Can anyone specifically elaborate on blockchain.info and any potential weak points? Its bad advice to store any coins online, on any website. Again, Can anyone specifically elaborate on blockchain.info and any potential weak points? Third party , can be hacked or "hacked" like this one: https://bitcointalk.org/index.php?topic=248803.0If you really want to hear more about it , go to the service discussion. |
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If you were to acquire the first telephone in the world, how much would you be willing to pay for it? not much, since it will be nearly worthless (you cannot call anyone with it), but the more telephones in circulation, the more desirable a telephone will become.
When cars , telephones , computers appeared they were extremely pricey , only a few managed to get them.
It happened with internet access it happened with plane tickets.
So , you're very wrong on this one.
Also ,this:
- Total Bitcoins mined on a daily basis decrease in a increasing fashion (i.e. total Bitcoins mined today will be less than the ones mined tomorrow)
you're contradicting yourself.
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The internet is going to be broken up... What a stupid thing to say. I would like to give you a high five... in the face... with a chair!
How about you research a bit about this magical internet? There are roughly 50+ cables , some of them coming out of the sea on popular beaches , unprotected, that support more than 2/3 of the total internet trafic. Cut those , and you're gonna cry waiting hours for the google webpage to load if ever. What, really? Edit: http://www.dailymail.co.uk/home/moslive/article-1196775/Web-trouble-The-hidden-cables-Cornish-beach-feeding-worlds-internet.htmlGeeze, this is incredible. Why haven't these been terrorised yet haha? There'd be a good film in this. *In cliché movie voice* Imagine a world with no internet.....Because until now there hasn't been a moron with the appropriate tools who wanted to damage them ... If we speak about a country wanting to cut them.... It will take only two medium class warships to take all the cables between America (continent) and Europe in less than 12 hours. Also , all the submarine cables than go to South and Central America run through the US. |
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And there were people saying that bitcoin will kill all banks.... |
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The internet is going to be broken up... What a stupid thing to say. I would like to give you a high five... in the face... with a chair!
How about you research a bit about this magical internet? There are roughly 50+ cables , some of them coming out of the sea on popular beaches , unprotected, that support more than 2/3 of the total internet trafic. Cut those , and you're gonna cry waiting hours for the google webpage to load if ever. |
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