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This may or may not be a problem. Transactions are still extremely cheap, so blocks are filling up. But are those transactions that important? Are the blocks filled with mostly spam-like low-value transactions? I don't have the answer.
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I was doing some calculations and found that after the halving to 12.5, mining will become unprofitable if running two Antminer S7's with a combined GH/s of 9460GH, with 2460 Watts total (2 AntminerS7's and 2 PSU's 1600)and electricity cost of on average $0.17 cents/kwh running for 30 days. Am I doing something wrong here in my calculations? Did I add up the watt total correctly (2 S7's + 2 PSU 1600= 2460watts?) Would I have to hope and pray that the value of BTC go over $1000 to even make any type of profit? thanks
Run your numbers with the new hardware (AntminerS9, 14 TH/s, 1500 watts) and reasonable electricity ($.05/kwh). |
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Not buying it. Visa,MC, traditional bank accounts can store the worlds transactions, but the blockchain can't?  Yes, because they're not storing thousands of copies of the data and transferring all the transactions thousands of times. The blockchain is highly redundant. We have ~7000 nodes atm. 75Gbyte each. So each node needs a $50 dollar 1 Tbyte drive × 7000. 350,000 usd to store the data of a 10,000,000,000 usd system. Thats um.. 0.0035% and your telling me its to expensive?
Yes, that's fine now, because it's not storing worldwide microtransactions in that 75 GB. Worldwide microtransactions would balloon that blockchain millions of times that size. Try storing 75 PB on 7000+ nodes and see how expensive that is. |
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Since when was the blockchain only suitable for high value transactions?
Since day-1. Some of the best use cases for BTC that have been bandied about over the years are microtransactions across the world
Only by people who don't understand bitcoin. Every full node stores every transaction back to the beginning of the time. That's a horrible design for a worldwide microtransaction system. Someday the features may be added to bitcoin to support such transactions, but the current design is absolutely not appropriate. Until that day, bitcoin is designed for high-value transactions. |
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And then the price was at $1 and I thought "How can a digital money be equal to a dollar?" LOL
Few people remember reaching "parity". That was pretty epic. Now look where we are, and we're nowhere near the top. Someone getting in now is still an early-adopter. |
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Not like ETH's x16 rise  in less than a year, currently @ ATH  That's how all altcoins go. We've seen it thousands of times before. There's an initial pump, then they fade into oblivion. ETH got it's pump 3 months ago. Since then it's been basically flat. This section is for the speculation and discussion of bitcoin's value. Some general guidelines: Go away. |
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He tried to cherry-pick + doesn't know how to read charts  Says the guy that cherry-picks when he posts a graphic. I might have made a typo. Here, check my work: Mar 15: BTC = $417.24 ETH = .03076570 BTC = $12.836680668 1000 / 417.24 = 2.396702138 BTC 1000 / 12.836680668 = 77.901758707 ETC Jun 15: BTC = $681.89 * 2.396702138 = $1634.287220881 ETH = $18.49 * 77.901758707 = $1440.403518492 Ok, not as bad. ETH is getting a big boost on BTC's coattails, but BTC still outperforms. The ETH pump is over. Go back to the altcoin forum. |
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I'm so sick of you ETH pumpers. Go back to the altcoin forum. Here're the facts: $1000 invested in BTC 3 months ago = 2.396702138 BTC worth $1653.724475122 today. $1000 invested in ETH 3 months ago = 32503.729802995 ETH worth $867.371780912 today. |
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Also ask why did big exchanges add ETH..
Exchanges love pump-n-dump scamcoins. They make money on the pump, they make money on the dump. |
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lol, im talking about before the ath btc had.. there were many experts all saying how BTC was shit etc if only u hedged when i told u about eth and my plans in january...eth was under $0.80 , if u spent even 1btc u wouldve been on 15+ today ...soon ETH will cross $20, then $50 and even $100 and hopefully at some point your attitutde towards ETH will change and u buy some..before it hits $1k+ lol anyway, im not arguing with u, u my m8  ETH has been flat for 3 months. The pump is over. Only thing left is the eventual dump. |
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Hey guys, I need to pay my vpn subscription and need .06 BTC. Coinbase has decided it needs to re-verify my bank account, so I am stuck for a couple of days.
Does anyone know of a site I can buy from without getting ripped off? Plus I need delivery today.
What are you talking about? You can rip them off. They can't rip you off. That's why you'll have a hard time finding a seller. |
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Does anybody know what the price of Bitcoin was when this person sold their house? I want to know if they made a good decision or not and I think that they have probably held onto it for all this time even through the lower prices so...
He stated he's up 50%, that puts his buy-in point about USD 466/btc. +50% in 2 years is decent if you ask me. |
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Just checking back today.
** Update **
I am still around.
I still have all my bitcoin.
If you check the original posting from 2 years ago, I did indeed sell my house for Bitcoin, and there are links to the actual news articles.
I currently live in Toronto now, and rent a house with friends.
The price of Bitcoin is currently at close to $700US or $900 CDN.
My original investment is worth $598,000 CDN.
My initial investment is up nearly 50% since I purchased Bitcoin 2 years ago.
Cheers,
Tay More
A true hodler. |
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Look, we've already achieved that $10 billion market cap!
And now it's over $11 B. |
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Which is a mostly-good plan. I disagree with this detail: I don't advice to buy back.
When the price drops, buy back more than you sold. It's win-win! |
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This time it's different!
Had to say it. 😂
Why? No Willybot! This is the real thing. |
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1.02 BTC Wall...munched.
1 BTC is a wall? |
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What mechanism prevents that from happening??
Maths. |
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