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Having an idea and using it as a world view are two different things.
The people who make predictions on a time period where that should occur have no academic relevance.
OP has been thoroughly answered above, don't pussy out of it now.
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Yes I see after infinite amount of time it will only get closer and closer to 21million. The main point of the OP is the block reward never ending even after a block reward of only 1 satoshi and bitcoin value ever increasing. Therefore no hyper-deflation.
Edit: As a valuable amount of new bitcoins/satoshis always entering the market.
Only if there were an infinite number of bits available for storage. When the block reward is 1 satoshi; then after 210000 blocks, that 1 will be shifted right and the reward will become zero. Perhaps by then the developers will allocate more bits, but it's still not infinite. All that being said: I completely agree, this still doesn't equal deflation or inflation. There will be, near as makes no difference, a fixed number of bitcoins in the economy. If the economy becomes more productive, then (unlike now) that productivity increase will be reflected in lower prices, as everybody's supplier will be able to supply more for less. Yes but I think people have said that the processing and storage needs of the blockchain will be able to keep increasing due to Moore's Law. Although I don't think Moore's Law can continue as it is and will inflex (excuse my terminology) during the Technological Singularity ( https://en.wikipedia.org/wiki/Technological_singularity) predicted sometime after 2030-2040. This has been predicted numerous times and revised. It's not gonna happen and is more of a pseudoscientifc joke to anyone involved in natural sciences or cybernetics. If you wanna have a entertaining read look up The Omega Point, aka The Singularity. The idea originates in the transhumanist movement, a circle jerk of wanna-be elitists who couldn't make it in academia. |
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I hate to nag, but do you have any plans to release this bitstream or sell it? I am willing to offer my first born child. Thanks.
Yes, I think I've finally come up with a strategy that will make everyone happy. It will be released, but it won't be free. Stay tuned; I expect to make an announcement by the end of the month. That wouldn't make me happy though. I'm not really interested as much in the product of your work as in your work itself. That is the source code of the program you used to place the elements. I would pay for that, more that for a bitstream too. But that is for you to decide if you wanna go this far. |
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Litecoin is dead.
I acquired some before they were on a exchange for 0.01 btc and they were loosing in value ever since.
I supported LTC from the start and even participated in the logo contest. It turned out to be the worst investment both in time and money I ever made.
What, waving your hands and whining is not helping? Nope  I'm not whining btw. Just telling my story about litecoin. Now if I were to make a thread complaining about the crackdown on litecoin prices that would be whining, but I'm not gonna do that. And who knows maybe they'll rise in value again some day. So I'm fine  But now I can safely make the following statement: Copying BTC with another cryptocurrency within it's community is not viable, at all, the whole concept of alternate cryptocurrencies is flawed as long as there isn't a substantial difference and/or improvement. |
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Thanks for confirming, ngzhang. It is not too surprising of a discovery, as the Stratix III EP3SL150 was one of xaxik's reverse engineering guesses: https://bitcointalk.org/index.php?topic=53530.msg720365#msg720365The most surprising, for me, is to learn that used units of these FPGAs sell for $50-60 in China. Two chips per Singles, plus $50-80 for the remaining components, means that the BOM cost for a BFL Single (with used FPGAs) is ~$150-200. This means anyone with a chinese source of used FPGAs could manufacture BFL Single clones producing about 5 Mh/s per dollar(!), making it by far the most economical mining platform. Will someone be able to produce free software for it ? The nice thing about VHDL / Verilog is that it can be compiled for every FPGA. Optimizations for the specific device can be done so it probably wouldn't get BFLs performance initially but would most likely surpass it considering how many more people are involved. |
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Litecoin is dead.
I acquired some before they were on a exchange for 0.01 btc and they were loosing in value ever since.
I supported LTC from the start and even participated in the logo contest. It turned out to be the worst investment both in time and money I ever made.
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i'm no expert but i think they use different chips.
Either you are wrong or ngzhang is lying. Different chips in the rig box. Ah, yes that could be the case. But since BFL hasn't come forward with any information either that is pure speculation. |
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i'm no expert but i think they use different chips.
Either you are wrong or ngzhang is lying. |
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...BFL singles have so long waiting times - BFL can't buy enough FPGA's.
Bingo! Mystery solved!!! Now BFL is not a SCAM, not a CON, just lack of production supplies. How ridiculous can a human look, when he is so jealous, that he can not afford himself to accept a simple fact... Well he is least guilty of shady business tactics. If he played by the rules he would have come forward straight ahead with the real, not inflated specs, the fact that there will be a limited supply and what hardware he is gonna be using. I would have bought one if I knew what I get. Instead he decided to claim he is using a custom chip and stated the product will have 120% the performance and 60% the power requirements it actually turned out to be. Lots of people are feeling the same way. He fucked up, he could have secured himself a cutting edge position in the market with a innovative idea. Now BFL will probably end up as a side note alas: 'First closed source mining implementation using discount pro-grade fpgas' And BTW: This could very well still turn out to be a scam. What do you think will happen if there aren't enough EP3SL150 available for cheap to actually build the rig boxes people ordered? |
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at least you looked into it now. We could say that difficulty has followed the granter hype cycle so far, but as far as price goes you cannot match it to either of those curves if you don't leave out some essential element. Price could at some point mimic the startup curve, but that would imply we stay at USD 5 for a full year, crash briefly and then take off. (But then the slope of wearing off novelty would be too flat) Very different from the scenario you are proposing in the OP. The Trough of Sorrow cannot from this scheme be very short and has to be a substantial length at least as long as the other periods. We haven't been stable for that amount of time yet. All in all this is not a good model for expectations on prices. this on the other hand could match the slope almost perfectly, (although with bitcoin it's more extreme)  But it would imply falling prices till we are at 2-3 again... (We would be at 1984-85 right now, possible sooner that depends on whenever you compress the timescales or not) |
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oh it's this thread again...  Has been thoroughly debunked in the last thread. tip: try to match either price, difficulty webstats, anything to it, it just doesn't fit. |
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Nobody leaves a position open for a year.
Do you have any reason to believe that the 5 USD support is solid? Anyway it is my opinion that fighting for a psychological value is a lost cause.
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nevermind.
are you the Atlas?
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At some point those shorts will have a cumulative effect so there would be no squeeze. If the majority of the capital goes that route there is not enough left to drive up the price in the first place.
Looking at the continuation at the massive sideways movement I'd rather join them than oppose them, if any.
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~$5 for another 3 months  |
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Well, agreed.
But what about the current prolonged attack, empty block mining. Have they stopped.
It is only a minor incontinence for conformations taking longer, but still it is an attack.
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shady site is shady  |
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I wonder, are the majority of people trading bitcoins represented on this board?
Have you ever been influenced on a trading decision by posts on this forum?
I have, numerous times.
Do you trust your fellow speculators? How much do you think is deception where people suggest a different action and take another?
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Well then did you check if too short pins were an issue in your case? Did you check the right orientation? Did you use a logic analyzer to get more information?
But if you are capable (which we assume) that shouldn't even be part of the discussion. So you are right we should move on.
Still you didn't answer my question: Are your pins trimmed?
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