MintChip looks like a government sanctioned digital currency.

Bitcoin is not.

If Bitcoin in ANY way negatively effects MintChip (which they will accuse it of doing) the Government will then have grounds to outlaw all other digital currencies.

This is what Government does best, taking control out of the hands of the people and selling it to special interest groups.

...close enough  


*is there like an alarm in your head for when someone is wrong on the internet? I swear I've never gotten a useful reply that quickly

Given that the network is ~11 TH, you'll need 12TH to over power it, equivalent to 480 Mini-Rigs. At $16000 each, that's $7,680,000

So as of this writing, an attack on the network would cost as little as $7,680,000

This is assuming you could get 480 MiniRigs delivered (which BFL wont/cant do), and do it before anyone else gets to power theirs up which would raise the "legit" network hashing power.

Once the BFL Mini-Rigs start hitting the street at 25GH each, you can bet your bits the difficulty will rocket.

Imagine, the Network total is ~11 THs, each miniRig runs 0.025, so for every 40 rigs turned on an extra TeraHash is added to the network.

This is going to be very interesting, and very bad for anyone still mining on video cards (me).

EDIT: as pointed out, 25GH is 0.025TH, not 0.25TH

Apparently 3 pm is too early for me to do maths

Ok, well, let me rephrase the question then:

If someone were to build a time machine...

A valid PRIVATE key is just a randomly generated number, literally anything starting with a 1 or 3 followed by 33 more characters made of numbers, letters and capitals. The public key just uses the standard non-reversible algorithm to calculate the public address from the random Private key. No?


Is 2^160 the actual number?

I thought a key starts with a 1 or a 3 (that's the 2x) followed by a number, a letter, or a capital (10 + 26 + 26) for the remaining 33 characters, 34 in all, so 2x62^33

Again, Joe Plumber here.

I recently realized that a private key is randomly generated by the client software (guess you could make one up too and pull the public key for it) without connecting to the network.
The client simply generates a random key for the wallet an calculates the public key for you to use.

I'm no programmer, but providing you had a copy of the blockchain, you could technically guess random private keys and check the corresponding public addresses to see if they have any bitcoins on them.

Note that I am fully aware there are ~2x62^33 possible combinations (maybe more?), and only a tiny fraction of those have ever been used for a wallet, let alone have any meager balance on them.

So, is this possible, despite being even more unlikely than winning the lottery?

*Drive on hopper 9'x9' w/pan feeder - $4000
*4 conveyors - 1 at 36"x50' & 3 at 24"x50' - $1000
*4 agitation tanks 12'x12' - $1000
*15"x22" Cedar Rapids jaw crusher 7screen classifier w/conveyor - $7000
*jig $4000
*40' trailer w/8'x8' hopper, 18' conveyor &3'x10' trommel - $2000
*Inducto Therm induction smelter 80# & 600# w/complete electrical unit - $40,000
*lab equipment - 5.5"x7" jaw crusher & Braum pulverizer w/table - $1200
*ball mills - 5'x10' Hendy & 18"x30" Little Giant Rib Cone - POR
*various tanks & water truck - POR
*core drill - POR
*rotary kiln - POR



 

original link


Edit: This is just a really lame "You know you're been bitcoining for too long when" joke. I do not own and am not selling any mining equipment of any kind

  No hard feelings, you have to stick to the plan as you see it, but a 50% div isn't for me.

I guess what I'm lookig for is something similar to this but with a max payout (minus essential fees) and a fixed share in a mini-rig, the I can re-invest if/as I see fit. Maybe you'll have something like that after this IPO, who knows.

FALSE.

You can't teach that boy shit 

I would seriously consider scaling down this project to just one Mini-Rig to start with,

I'd also make the "mandatory reinvestment" completely optional and set by the client. Depending on how you calculate ROI, even at 100% div, a minirig could take over a year just to pay itself off. Setting a 50% div and the other 40% reinvested simply won't work for a lot of people.

Personally I'd want a maximum return, with the option of re-investing my BTC later on once things start to pan out.

What's really killing this is the Mini-Rig delivery time coupled with the looming Block Reward split, leaving ~5 months of mining at 50 BTC/block.

So it's a sort of mandatory re-investment?

Also, where will this be mining? Solo, or part of a pool?

I can't quite wrap my head around this one. How is 40%, of the 90% returned to clients, used for new equipment?
If you return it to the client, how can you be using it to buy equipment?

at 1250w each, all said and done it'll be ~4kw of pure heat energy. If you've ever had a 1kw heater in a room, imagine 4 of those on full blast. I would seriously consider putting the rigs IN a window, like an AC unit and have a fan pump air over the rigs and out of the window.

Still, this sounds like a cool idea.

pm sent 

Considering the cost, this being a start-up company, the 3 month waiting period, the volatility of Bitcoin, and possibility of delays, there must be some protection available for the client.

Given the modularity of the Mini Rig internal components, a down-payment is not unreasonable. It could include only the cost of parts unique to the Mini Rig, or what have you.

Out of curiosity, how and when would you transfer the BTC if meeting in person, and what is the max/min value on the transaction, either in BTC or $CAD?

Is the $15,000 required up front, or can a down payment be applied when placing the order, the remaining balance being paid once the unit is completed and ready to ship?

Also, how are repairs handled outside the warranty period? Are extended warranties available?

That's exactly it, Thanks. How do I get there from the home page?

I'm tire''d of sifting through every Section->Category->Sub Category looking for fresh / interesting posts. The "Recent Posts" feature is awesome, but it's way too short.

I'd like to have a longer list of "Recent Posts" so I can just visit one page to see what's happening.

Would be a cool feature  

EDIT: And not the "View the most recent posts on the forum." under the "Forum Stats", I'm talking about a list by title, just like the 5 on the main page.