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28nm ASICs are a huge step forward from 130nm ASICs and there are a lot of steps in between
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Big Bang => simulation rebooted ?
* rewatch "The Thirteenth Floor" *
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where did you see this at?
From the Avalon ASIC Update #4 newsletter sent to subscribers. damn...how many times do i need to sign up for the newsletter in order for me to get it? o_0 I suggest you to signup with different email addresses, from different hosting services (I mean one adress at gmail, one at yahoo, etc...). |
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Yeah, the gold rush analogy is fine, but remember that plenty of mining outfits did well also. It depends on your strategy and efficiency. You need competitive advantages and proper timing.
Also, people like get rich quick crap, especially the crew here which is naive enough to fall for ponzi's etc.
Those of us who are content with reasonable and consistent gains feel just fine mining as a hobby.
Hell, I've got several thousand dollars worth of paid off GPU's, motherboards, PSU's, watercooling equipment, etc. from my gpu mining farm.
Besides, Coinlab is going to be very profitable for GPU farms.
.. and fpga's .. and I find hypnotically relaxing to watch these bitcoins falling in my wallet all the time. |
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it reminds me what they said during the gold rush : only the shovel sellers got rich, not the miners.
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It will quickly stabilize to a point where ROI and efficiency of the most powerful devices are just about shitty and miserable.
A consequence of the 2nd law of thermodynamics, probably.
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After reward halving, there is only 3600 BTC per day
What limits the number of coins mined per day? The protocol defines the difficulty to be exactly what it needs to be so one block is mined every 10 minutes. But that's on average... It could be more, it could be less. I get the point, its decent math for averages. But my point is there is no hard limit per day. It's a statistical limit driven by the difficulty and the network power (TH/s), it's pretty hard to me, in the sense that you have no control over these parameters and they will not let the limit wander very far from the theorical 6 blocks/hour (bell curve, etc) The only exception is when ASIC will come in play in the game : it will offset somehow that Bell curve and you'll be able to mine a few more coins per day for a while. |
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After reward halving, there is only 3600 BTC per day
What limits the number of coins mined per day? The protocol defines the difficulty to be exactly what it needs to be so one block is mined every 10 minutes. |
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Bitcoins and Paintings share the same characteristic : uniqueness. You can't make another Picasso, nor another bitcoin, after the 21,000,000th.
Picasso has painted about 8,000 paintings. One was sold lately for over 100 M$ by Sotheby. Of course not all of these are worth this price, but my wild guess is that the 8,000 paintings could be worth 20 B$ ?
Of course bitcoins don't have the save aesthetic value than Picassos's but on another hand it's difficult to buy bread with a Picasso.
If BTC get to be as known as Picasso's, would they worth 20B$/21M.BTC ~ 1000$/BTC ?
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Hmmmm... I haven't blown up any FPGAs lately. This is bitstream-compatible with Icarus, right?
AFAIK yes; |
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Err,
ngzhang ? Weren't you supposed to deliver a faster bitstream for the Lancelot any time ?
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We have to kill Satoshi
lol |
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