Bitcoin Forum
September 21, 2018, 08:45:24 PM
 News: ♦♦ New info! Bitcoin Core users absolutely must upgrade to previously-announced 0.16.3 [Torrent]. All Bitcoin users should temporarily trust confirmations slightly less. More info.
 Home Help Search Donate Login Register
 Show Posts Pages: [1] 2 3
 1 Bitcoin / Bitcoin Discussion / Bitcoin Power Consumption at the current Price on: November 26, 2017, 02:57:40 PM A long time ago I derived a "back of the envelope" formula to estimate the amount of power the mining sector will attempt to consume based on the assumption that, on average, the mining sector will consume as much power as it can afford to consume.  Here is an updated, simplified formula:QuoteP = 6(50/2e + f)(x)(r)/c [kW]where:Quotex = the average exchange rate [USD/BTC]e = the era [0..32]  (we are currently in era 2)f = the average fees per block [BTC/block]c = the average cost of energy [USD/kWh]r = the average ratio of miner's energy cost to total income[unitless ratio]Here is a quick stab at the numbers.  If you think you have more accurate numbers put them in the formula and see what you get.Quotex = \$8,800 per BTCf = 1.25 BTC/blockc = \$0.10 per kWhr = 0.5 (50%) of total income spent on energyP = 6(50/22 + 1.25)(8800)(0.5)/0.1    = 6(12.5 + 1.25)(8800)(0.5)/0.1   = 82.5(8800)(0.5)/0.1   = 3,630,000 kW   = 3.630 GWSo at \$8,800 per BTC the mining sector will attempt to consume about 3.6 GW.  It may not get there due to shortages of miners, build out delays, etc. but it will try.My numbers above are total "back of the envelope" estimates.  If you can come up with more accurate values for the average values of x, f, c, and r then we can get a more accurate estimate for P.Note all thread spam will be deleted.
 2 Other / Meta / PARTIAL ANSWER TO THE SIGNATURE SPAM PROBLEM !!! on: May 03, 2017, 09:57:13 AM The answer is very simple, from now on:Only start moderated threadsOnly converse in moderated threadsSimply delete all signature spam postsEventually all the signature spammers will die offEventually the entire market for farmed accounts will die offWe can still have signaturesBut we will not have to put up with people that do not read the threadVoilà!  Bitcointalk becomes a useful, clean, happy place once again.
 5 Bitcoin / Bitcoin Discussion / Follow the Bitcoins taken from me by Homeland Security on: September 16, 2015, 12:42:10 PM Here are the 186 (\$42,222.00 as of this posting) Bitcoins taken from me by Homeland Security:https://blockchain.info/address/1Eu38i1DkRAPAJhSqbseVroJDpMRfJbAx3I am sure you guys can come up with some creative, interesting, fun ideas to do with this information.
 6 Bitcoin / Mining / Looking for a Miner in Denver on: August 27, 2015, 02:39:58 PM I have been asked to do an interview for a TV station in Denver.As part of the segment they would like to show a local Bitcoin mining operation.It does not have to be huge.  They can get video of huge operations online.  They are looking for a small/medium local miner.If you are interested in having your mining operation shown on TV and live in the Denver area please contact me.I do not know if it would involve and interview or not.  I assume you could be shown or not, name shown or not, all up to you.
 7 Economy / Economics / The commodity market collapse on: August 07, 2015, 08:59:07 PM I would like to hear some Bitcoin economics professor's opinions on this interesting article:http://www.dailykos.com/story/2015/08/06/1409378/-The-Commodity-Market-WipeoutI was a bit shocked by the statistic at the end of the article:China has used more concrete in the last three years (6.6 gigatons) than the US used in the 100 years of the last century (4.5 gigatons)!
 8 Bitcoin / Bitcoin Discussion / Quantum Computers in the News on: April 30, 2015, 12:46:35 AM http://www.eetimes.com/document.asp?doc_id=1326468&_mc=NL_EET_EDT_EET_daily_20150429&cid=NL_EET_EDT_EET_daily_20150429&elq=a59559bfb7664cde842c7b2bb9e68b8c&elqCampaignId=22769&elqaid=25618&elqat=1&elqTrackId=6252292228f14224804cfbfa4bed4c75For all you that think this will doom Bitcoin:  I will buy your BTC from you.  I am paying \$1 per BTC.
 9 Other / Politics & Society / Why does the US get a different version of TIME magazine? on: March 31, 2015, 04:04:17 PM Something about this bothers me, a lot.http://www.dailykos.com/story/2011/11/25/1039957/-STUNNING-Comparing-U-S-World-Covers-for-TIME-Magazine