It is just a wink-wink to fiat 1%: "Oh, don't worry, you wouldn't have to hold hands with plebs, it is a 'good' well-financed crowd here..."
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Upon other variants, there is a persistent and popular proposal to call [100 satoshi]=base unit (depicted either as XBT or XBI). This solves the decimals problem (inability of the majority to easily estimate value after two decimals plus accounting software compatibility) The argument was made that if you call these units "bitcoin", then people will be confused, but if you call them 'bits", then many would disagree. How about the following classification scheme for units: call: 1BTC a "Megabit" or simply "Mega" in jargon. Megabit will not be a part of ISO, but could be used in day-to-day txs. [100 satoshis]=XBT or XBI=bit
All small purchases will be depicted as in this example: gum- 1,470.99 XBT/XBI (bits) large purchases (more than current BTC) would be called in megabits House: 1,500 Megabits (instead of 1,500,000,000 bits). This would ensure ease of use.
BTC (depicted as such) will be a historical (not ISO) unit, which will be fine to use in wallets, etc.
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Not really, you going based on the market of today cost of btc.. we all know is matter of time will go up again
ALSO sp30's are fast moving out as sp35 running full speed @ 3900 are rolling out.. as soon it doesnt the market for sp30 will drop he is doing the right thing pulling out now then later
can't you do some math? Sp-35 is 5.5th in December for $~3600 (after assumed $320 compensation) with $30-50/mo more electricity usage vs 4.5 TH RIGHT now (a full mo earlier). Fair price for Sp-30 is ~$3100-3300 or at least 9 BTC. If you want to give discount to allow for some profits to buyer in comparison from buying from manufacturer-fine, but don't be stupid. personally your being stupid yourself read other topics sp30's all selling 6btc or less.. im right on point and that itself is a fair market for them as we speak .. you can always get 3 s4 to get 6th's and get it now less then your numbers lol (3100 - 3300) get out of town You simply have no clue, seriously. Antminer S4 is $1250 PLUS shipping. As of right now it is 4.13 BTC to US for each (2Th), so for 6Th it is 12.39 BTC. The equivalent hash in S-30 would be 9.29 BTC. You're welcome! numbers im talk about are yours lol $3100 - 3300 = 11 btc avg your welcome Check your math, buddy
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Not really, you going based on the market of today cost of btc.. we all know is matter of time will go up again
ALSO sp30's are fast moving out as sp35 running full speed @ 3900 are rolling out.. as soon it doesnt the market for sp30 will drop he is doing the right thing pulling out now then later
can't you do some math? Sp-35 is 5.5th in December for $~3600 (after assumed $320 compensation) with $30-50/mo more electricity usage vs 4.5 TH RIGHT now (a full mo earlier). Fair price for Sp-30 is ~$3100-3300 or at least 9 BTC. If you want to give discount to allow for some profits to buyer in comparison from buying from manufacturer-fine, but don't be stupid. personally your being stupid yourself read other topics sp30's all selling 6btc or less.. im right on point and that itself is a fair market for them as we speak .. you can always get 3 s4 to get 6th's and get it now less then your numbers lol (3100 - 3300) get out of town You simply have no clue, seriously. Antminer S4 is $1250 PLUS shipping. As of right now it is 4.13 BTC to US for each (2Th), so for 6Th it is 12.39 BTC. The equivalent hash in SP-30 would be 9.29 BTC. You're welcome!
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Not really, you going based on the market of today cost of btc.. we all know is matter of time will go up again
ALSO sp30's are fast moving out as sp35 running full speed @ 3900 are rolling out.. as soon it doesnt the market for sp30 will drop he is doing the right thing pulling out now then later
can't you do some math? Sp-35 is 5.5th in December for $~3600 (after assumed $320 compensation) with $30-50/mo more electricity usage vs 4.5 TH RIGHT now (a full mo earlier). Fair price for Sp-30 is ~$3100-3300 or at least 9 BTC. If you want to give discount to allow for some profits to buyer in comparison from buying from manufacturer-fine, but don't be stupid.
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Wondering if there is interest in this? I got it this week, but just checking the market.
5.2BTC + escrow
It is your business, but why exactly you are selling 4.5TH machine for 5.2BTC/$1800 when someone bid 7 BTC for another machine here and antminer S4, for example, which is less than half of S-30 (2Th vs 4.5TH) is selling for ~$1400 (~4BTC) with shipping? why you hating, let the man sell it for 5.2 something was wrong with that offer.
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Wondering if there is interest in this? I got it this week, but just checking the market.
5.2BTC + escrow
It is your business, but why exactly you are selling 4.5TH machine for 5.2BTC/$1800 when someone bid 7 BTC for another machine here and antminer S4, for example, which is less than half of S-30 (2Th vs 4.5TH) is selling for ~$1400 (~4BTC) with shipping?
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Question re S3 cleaning:
In S1 it was kind of clear when too much "stuff' accumulated, but since S3 is closed, I don't know what is going on inside without opening. Would you still stop it and remove dust (around fans as in S1) or just keep going as long as miners are performing?
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21mil/7 bil=0.03 BTC/each person on Earth
In a best case scenario (bitcoin becomes ubiquitous form of currency, accepted everywhere)... If you mined 3BTC, you provided bitcoin for the future use of 100 people. If you mined 30BTC-you provided this currency for use of future 1000 people (on average).
Well, even if we lose some money right now, it is OK in a big picture.
Plant a tree, write a book, father a son/daughter...mine a bitcoin.
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Fermi's paradox is funny because it assumes that there is no hard evidence of the existence of extraterrestrial humanoid species while in reality there's a shit load of evidence that is unfortunately suppressed by the mainstream science.
There's a reason why nobody in mainstream science supports it. supports what?
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The logical conclusion from this statement and the fact that we don't see any Type 2 and Type 3 civilizations (Fermi's paradox) is that EVERYWHERE else bitcoin-like technology never appeared.
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Wait until tomorrow before you make post like this, you know bitcoin will have wild swings... A lot of buys & short covering will happen soon & if it goes near 400 because of that we can start assuming a average bitcoin price. If price breaks 300 then a thread saying it's clear this correction isn't over will make sense
so far it is still declining. I am waiting for some large mining company with higher electrical cost to go out of business (cough-K-N-C-cough) before we reverse. KnC costs are “significantly below $400”, keep dreaming http://mobile.bloomberg.com/news/2014-10-21/bitcoin-miner-ditches-clients-to-chase-2-billion-coding-prize.htmlwe are already "significantly below $400" at $349, so the time is nigh. Good point but is 12% really significant? That's why he's the CEO and gives out vague answers with lots of room to speculate. I for one would love to know their narrower range. https://www.kncminer.com/news/news-107 - 400 GH/s for 6 months at 249 USD ≈ 0.6 USD/GHs - to mine bitcoin today you need 237400.179 Thash/s / 3600 = 66 Thas/s = 66 000 GH/s - 66 000 GH/s / 400 = 165 contracts 249 USD * 165 contracts = 41 085 USD => and you will mine 1 BTC every day for 6 months => 180 bitcoins 41085 USD / 180 BTC = $228,25 USD/BTC looks like their current price is below $228,25 I got slightly different numbers by a simpler method: 400Gh for 6mo at $249 is $1.38/day 400GH right now produce 0.00541268 BTC/day $1.38/0.00541268=~$255/BTC cost $228 is not far from $255, so real cost is about that (or less) at THIS moment. Hence, I am pretty sure that they will not survive below $200 As i posted before, 2011 correction equivalent is BTC $72. Even at twice as much, high cost producers will not survive, but network will be fine. Also, as you can see, as soon as some of the bigger a-holes are down, price is creeping up (temporarily)
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Wait until tomorrow before you make post like this, you know bitcoin will have wild swings... A lot of buys & short covering will happen soon & if it goes near 400 because of that we can start assuming a average bitcoin price. If price breaks 300 then a thread saying it's clear this correction isn't over will make sense
so far it is still declining. I am waiting for some large mining company with higher electrical cost to go out of business (cough-K-N-C-cough) before we reverse. KnC costs are “significantly below $400”, keep dreaming http://mobile.bloomberg.com/news/2014-10-21/bitcoin-miner-ditches-clients-to-chase-2-billion-coding-prize.htmlwe are already "significantly below $400" at $349, so the time is nigh.
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I do lump all the asic manufacturers together because they have all done exactly what I said. Your heroes, Asicminer, are one of the worst offenders because they mine themselves and by proxy whilst telling their customers that they want everyone to have a chance to participate in mining. What they actually want is the chumps to keep financing their mining activities by believing that they will make some money from their purchase.
You do realize that Asicminer was publicly funded and built their farm using those funds right? There's NEVER been one asic manufacturers who has said "thanks for your order, we will do everything we can to keep you as a customer and help you to make money. We'll make sure you get more hashing power when you need it, not when we decide we'll give you some more". Completely wrong. Asicminer, Bitfury, Bitmain, Spondoolies-tech, Rockminer, and BTCGarden all operate without BS, have great customer service, and adequately compensate customers for any delays/underperformance. Good practice by those mentioned, but irrelevant in the long run if tens of thousands of customers lose money on these transactions.
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@ gallery2000 we just touched 400usd . I see us above 500 by Nov 1st
The correction happened we dropped to 298 a week or so ago and now back up for a few months.
Unless the moron asic builder decide to expand the data centers again.
Well, that's exactly what they are doing, KnC, amhash, etc. I actually understand the OP (thread initiator) position. I think that current policies of mining expansion will lead to bitcoin Depression very soon.
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Wait until tomorrow before you make post like this, you know bitcoin will have wild swings... A lot of buys & short covering will happen soon & if it goes near 400 because of that we can start assuming a average bitcoin price. If price breaks 300 then a thread saying it's clear this correction isn't over will make sense
so far it is still declining. I am waiting for some large mining company with higher electrical cost to go out of business (cough-K-N-C-cough) before we reverse.
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so it is reasonable to ask for at least 8-9 BTC.
Not anymore it ain't, those daze are loooong gone....... ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) well, the fact that you won't pay it does not mean that someone else won't and if no one sells to you at your FAIR price and you don't buy from manufacturers then you end up with zilch. happy hashing!
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I am looking to buy used mining hardware. I would like to buy any miners that are made by spondoolies or miners that can hash around 1000W Per 1.3TH/s. I am looking for a SP30 ideally, but will also consider buying a SP10 if the price is right. I am located in Chicago IL if that helps for determining shipping. I can also pickup locally and surrounding. Let me know what you have. I can pay in cash, bitcoin or escrow.
Please price the miners appropriately. I am reasonable, but I won't be able to pay over $600 for a SP10 and over $2,000 for a SP30. PM me or post what you got. Let's see if we can work something out.
I can sell you a nice 8mb 1920x1680 signed picture of my Sp-30 hashing as expected for $200. Deal? That's some pretty scammy language there. You want to sell a picture for $200? can't you get a joke, buddy? OP was offering to buy something for 2K that is worth 3.9K on Spond website (Sp35). I think that this was a pretty low offer. I edited my prior post just for you.
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I glanced over the paper and have a couple of perhaps naive questions: 1. As bitcoin has economic value, I don't quite understand how this would work with sidechains. Suppose I transfer 1000BTC to a sidechain, but whatever changes i make will result in a loss of purchasing power of the "new bitcoin" in my sidechain. However, since I have a two way peg, i would be able to transfer my "new bitcoin" back to parental bitcoin chain at the 1:1 ratio? 2. Alternatively, if my "new bitcoin" chain will be successful, then bitcoins will 'evaporate' from the parental chain toward my chain, but it is intuitively unfair that initial coins in the "new bitcoin" will have the same value as latecomers 'new bitcoins' that will 'evaporate' later from the parental bitcoin. If no equal value, then how that difference in value would be determined? 3. Will parental bitcoins acquire more and more value as sidechains accumulate or will they lose value toward zero as value is transferred to sidechains? 4. I think that authors might need to introduce some value "entanglement" between 'locked' bitcoins (that moved to sidechains) and the rest of bitcoins in the parental chain. This way, if sidechains acquire additional value this value will be reflected in "non-locked" parental bitcoins, otherwise parental bitcoins will be unaffected by sidechains growth and will eventually lose value.
Because coins can always be transferred between chains, the value will be roughly equal. The value cannot be equal if the properties are different because one coin/sidechain will be more attractive than another, and this is exactly the point I am making. Alternatively, if a sidechain becomes more attractive than a parental blockchain and no direct value is assigned to this (and by definition to the remaining old blockchain bitcoin), essentially ALL bitcoins will migrate/diffuse to this more attractive sidechain. Are economic considerations have to place in bitcoin development? This would be surprising all things considered.
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