yeah, old. i was surprised how easily the old dog, Casey, rolled over. |
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Simon Johnson has always been one of my favorites. he has been unabashedly critical of big banks. i've read his book: 13 Bankers. it's excellent and he is one of the few high profile economists that has stuck his neck out against the corrupt banking system as it is. i wonder how well he understands Bitcoin however. one would think that b/c he is on staff at MIT he would understand it well. but i agree with BitChick above that it's too late. with the ROW onboard, especially China, there is nothing the US gov't can do at this point to stop Bitcoin. but i'm sure there will be plenty of ppl who will be scared off by SJ's comments. so be it; this is Bitcoin's Tension. |
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UPDATE: I think I forgot to mention on the forum that "private key included" coins are now available on the website. There's a dropdown on the product page to select which version you want. http://www.titanbtc.com/product/titan-one/ thanks for the option. i don't think it will be as great a problem as you think. for sales. |
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Very professional looking. @TitanBTC, I noticed in the COA that the field for the # coin is left black (out of 10,000). Was that on purpose or do you plan to number each coin? Just curious. Aloha!  Smoothie, I redacted it that. BCB, would you mind posting a pic of the back of the coin? thanks. |
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Yes "Long term" - as the time it takes for you to mine hundreds or thousands of blocks. But, since the difficulty is increasing below a certain threshold that will be "never", or at least not until the difficulty levels out again. Btw, Isn't HF supposed to ship this month? I'm sitting here with my KnC, I guess my "luck" in picking equipment makers is better then yours back when i was being paid, the #'s looked a lot more compelling than they do now. let's not forget you were being bullish on KNC/Terrahash ordering back then too. the relentless, exponential growth has surprised all of us.
HR is looking a little toppy right now; we'll have to see how much, if any, current lesser efficient asic mining gets turned off.
Hahahaha, what? Are you really this dumb? I remember you saying you thought hashrate would actually drop at some point in the future even, like a stock price. Given the delivery date I think it's possible my KnC will pay for itself over the next couple months - I did pay for it with USD, rather then bitcoin though. My Avalon paid for itself in USD in about a week, and in BTC in a month or so. it's too early to tell who's more "lucky".  don't forget KNC had a head start so it's expected you're mining right now. yes, it appears HF will be late. don't know how late but i still prefer the apparent high quality parts they are using along with the cutting edge 28 nm tech. you're right though; it could be useless if they're too late. yes, i still maintain that the HR will stabilize or even drop at some point; probably sometime early next year after Cointerra ships (if they do at all). i've actually had good luck with my Batch 2 Avalons as well.  |
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First of all, you were incorrect.... It's not 1400, and also not 1300. It is, as i have suggested, 780, as could be easily calculated from the product description here. Each chip is 400 GH/s, there are 3 chips for 1200 GH/s total. At advertised .65W/GH, that totals to 780W. Any other number you arrive at directly contradicts the company claims. Try to learn something for once. The efficiency of the chip isn't the entire power requirement of the entire system. The reported efficiency AT NOMINAL HASHRATE is ~0.65 J/GH. So at 400 GH/s that is 260W @ ~1VDC (actually voltage depends on chip spec and hasn't been reported but likely is 0.7VDC to 1.0VDC). An ATX power supply delivers high current on the 12V rail, however no AISC runs at 12V and thus the 12VDC has the be converted to ~1VDC and conversion means energy "lost" as heat (otherwise the VRMs would be cold to the touch). A quality high current 12 VDC to sub 1 VDC regulator is going to be ~90% efficient so that is 288W @ 12VDC per board. 288W @ 12VDC in = 260W @ ~1VDC out + 28W as heat. Sill 288W isn't the whole story either. The watercooling loop requires power as well. How much? Not sure but lets guestimate. Each module includes 2 fans likely high RPM so lets go with 12W ea and a pump say another 6W. So 30W per cooling loop plus 288W per board is 318W total. Lastly there are a pair of exhaust fans. Lets guesstimate 12W ea. 318*3 + 12*2 = 978. So 978 not 780 watts per rig. At nominal hashrate (400 GH/s) & 0.65 J/GH. Per chip - 260W @ 1VDC Per board - 288W @ 12VDC Per board including cooling - 318W @ 12VDC Entire System including exhaust fans - 978W @ 12VDC However that is only at nominal 400 GH/s hashrate. Hashfast has indicated they believe the chips can be pushed harder. How hard? Well I certainly don't know and HashFast won't even know for sure until they get the final silicon but lets say they can run at 450 GH/s at nominal voltage and with a 10% overvolt can be pushed to 500 GH/s. In Silicon devices, power consumption increases by the square of the voltage increase. So 10% higher voltage = 21% higher power or 0.78 J/GH. 500 GH/s @ 0.78 J/GH (AS AN EXAMPLE ONLY) Per chip - 390W @ ~1VDC Per board - 433W @ 12VDC Per board including cooling - 463W @ 12VDC Entire System including exhaust fans - 1,413W @ 12VDC So designing around a 780W power supply would limit the potential of the device. Maybe 500 GH/s per chip isn't possible but maybe 440 GH/s or 465 GH/s is. HashFast stated there were no power supplies in the range they were looking at (1300W to 1400W DC) from vendors they were interested in. Also stated was that even if one was available it was more expensive than two smaller units. SeaSonic's "X series" for example maxes out at 1250W and a 1250W unit has higher price than a pair of 750W units (1500W total). great analysis as usual. don't forget the PSU's are X850's (Sierras) that are 93.3% efficient (higher than the X1000 in the BJ that is 91% efficient). |
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am i correct that a PRNG on a pc is used 2 ways in Bitcoin; generating a nonce for ECDSA signed tx's and generating SHA256 private keys? any other function i'm missing?
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And yes lol, 50% is within the rules. 400% is the limit I believe, and has been reached before.
Wow. We're fucked. This is the most accurate description of our situation I've seen so far. Cypherdoc would disagree why would i necessarily disagree? do you disagree? back when i was being paid, the #'s looked a lot more compelling than they do now. let's not forget you were being bullish on KNC/Terrahash ordering back then too. the relentless, exponential growth has surprised all of us. HR is looking a little toppy right now; we'll have to see how much, if any, current lesser efficient asic mining gets turned off. I have no comment until we see how the MPP plays out. Hashfast's chips may overperform, they might offer something additional to not make it so bad. But if they don't offer anything additional and the MPP does exactly what it says it is going to do then yes I guess I would only agree that it's not looking that great. The outlook is much worse if you were not first in line and paid retail prices. Who knows what HF has up their sleeves. the things i do like right now, other than the HR, is the fact that there has only been one day in BTC history where the price has closed higher than it is right now. this huge run up in Chinese investment is a great thing for all of us. what BTC you do mine will be worth more in the future; possibly ALOT more. in fact, one could make the argument that the rising price is a sign that money is finally being diverted away from the mining space into direct purchase of BTC. i think that definitely is the conclusion that many are making and we've seen that right here in this forum. the other dynamic that i think is undeniable is that all gpu mining should be shut down if not already. and the non 28 nm asics will also with time. the most efficient miners will be the ones that can make it thru this gauntlet. there will be a topping out of the HR somewhere along here. |
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btw, only 1 day in BTC history where the price has closed higher than now.
was that $230? yeah. the future is very bright. |
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And yes lol, 50% is within the rules. 400% is the limit I believe, and has been reached before.
Wow. We're fucked. This is the most accurate description of our situation I've seen so far. Cypherdoc would disagree why would i necessarily disagree? do you disagree? back when i was being paid, the #'s looked a lot more compelling than they do now. let's not forget you were being bullish on KNC/Terrahash ordering back then too. the relentless, exponential growth has surprised all of us. HR is looking a little toppy right now; we'll have to see how much, if any, current lesser efficient asic mining gets turned off. |
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40X!!!  Just in case newbies to this thread do not understand, this posting periodically compares the buying power of gold vs. bitcoin if you had bought one vs the other in March 2012. For example, you had bought $1000 in gold on that date, you'd have a bit more than a half ounce worth around $780 today. If you had bought bitcoin, you would have 185 coins worth 35 THOUSAND bucks!!! the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, nasdaq=3055, Bitcoin=5.4): Bitcoin is 192.11 (177.44 btcChina in USD). Gold is 1318.00. Nasdaq is 3922.00 Bitcoin: 3457.59% (3185.93%) Gold: -22.01% Nasdaq: 28.38% Gold Diff: 4462% advantage BitcoinNasdaq Diff: 2671% advantage Bitcoin4561.708256055753 Stop rubbing it in. 40 bagger deserves some celebration. ... you know i'm just kidding. keep it up. btw, only 1 day in BTC history where the price has closed higher than now.  |
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Excellent! Now I can offer discounts for 20 year subs! |
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I can't wait to see this in 3-20 years.
Some of us might be dead by then. |
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40X!!! Just in case newbies to this thread do not understand, this posting periodically compares the buying power of gold vs. bitcoin if you had bought one vs the other in March 2012. For example, you had bought $1000 in gold on that date, you'd have a bit more than a half ounce worth around $780 today. If you had bought bitcoin, you would have 185 coins worth 35 THOUSAND bucks!!! the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, nasdaq=3055, Bitcoin=5.4): Bitcoin is 192.11 (177.44 btcChina in USD). Gold is 1318.00. Nasdaq is 3922.00 Bitcoin: 3457.59% (3185.93%) Gold: -22.01% Nasdaq: 28.38% Gold Diff: 4462% advantage BitcoinNasdaq Diff: 2671% advantage Bitcoin4561.708256055753 Stop rubbing it in. |
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it doesn't matter who's right.
Yup. I still say it's impractical and borderline reckless to switch to crypto fully, though. It's simple enough to straddle traditional and crypto, rebalancing as per fiat risk tolerance. as much as i troll miscreanity, he was the other half of Gold: I Smell A Trap. without him, these gold threads would never have become as popular as they are. i won't soon forget the 4 mo debate from 8/11-11/11 i had with him which made up the bulk of that and this thread. back and forth, multiple times per day, in friendly and sometimes not so friendly terms (mainly b/c of me). he has a much deeper understanding of economics than 99% of you here. yet somehow he's gone astray on this gold thing. he's slowly giving way, much to his credit. i think what he, and most others, are missing is the speed and rapidity of the Bitcoin phenomenon. also, this fuzziness of supply with gold is a major problem. edit: for evidence of this, look at his sig. he grossly undersestimated the speed with which those price predictions would be achieved. he's not the only one. |
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