Didn't they have orders for units with July delivery? Does that mean they were 1 month late? |
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Just got my first mini rig part - im really happy . . . I was only doing under 900 mhz before  lol happy to be here  FINALLY BFL shipped me something That's a big jump and just in time for the increase in prices! |
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Ok, maybe it's really a case of semantics and bad swedish to english translation, then. When they said they wanted to protect their customers, I got all warm and fuzzy inside thinking they were referring to those $11000 in Paypal transfers my wife nearly divorced me over.
I mistakenly thought the customers they were referring to were the same people who have actually sent them money to pay for a miner or two, not the metaphorical "everyone is our customer, even if they never considered spending a dime with us before they saw that we were the only company actually shipping ASICS". You know, the customer that doesn't exist yet, but will line up in droves in october for november delivered ASICs discounted nearly 40% from the month before.
Maybe I have a totally misplaced sense of entitlement, but I don't want KNC constantly levelling the playing field so that late-to-the-party miners don't have to pay a penalty for being tardy. I want early ordering preference and Pricing for gen 2 or a serious discount on november gen 1 machines so that I can stockpile hashing power during the dec - feb drought.
I like the way you think and I have a lot of the same ideas. It would be nice to be recognized/acknowledged for making this all possible for KNC. Like a lifetime "founder" discount or a founder ordering period prior to regular ordering when they launch a new device. Of course, that doesn't really do anything if they continue to ship as fast as they can. While it is great that they have the capacity to deliver hundreds or thousands of units per day, it is not good for any of us as it increases the difficulty for earlier investors. If I paid 2 months before someone else, I should get my machine 2 months before them. Maybe they could close the gap over time but it is kind of sick to think someone who orders today will get their miner only a week or two after I get mine and I paid 2 months ago. |
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 This doesn't really match up to the stats right now. Can anyone make sense of this? What doesn't make sense? The blue line is the current target which is 65750060.15 difficulty or 470.66 TH/s. Where are you getting your stats? |
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There is only one public key derived from a private key. There are two main encoding standards for bitcoin public keys - compressed and uncompressed. So the thief only has to watch two addresses. edited for clarityOk. I see now. Thanks for the help. |
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That's the next projected difficulty, not the hash rate. It is current estimated hash rate No: http://blockexplorer.com/qestimate - shows an estimate for the next difficulty. |
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Dif is adjusting evry 20 days (+/- 2-3 days) almost every time it goes up from 20-28% so.. btc will be to dificult to mine in near future..
The target is every 14 days but it is really every 10-11 days now. Last was 8/13, this was 8/24, next is likely 09/04. |
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That's the next projected difficulty, not the hash rate. |
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That is not right, they are probably calculating over a certain number of blocks that include a portion that fell within the last difficulty level but using this difficulty level instead of the one that applied when those blocks were solved. I am calculating it to be right around 500 TH/s based on the number of blocks solved over the last 24 hours and the average difficulty of those blocks over the last 24 hours. |
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I sure hope the community is working on finding out what the vulnerability is. So far, at least two people have said they were using blockchain.info when this happened to them. There are many more it appears that have not posted on the forum. |
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Hi guys! I've been involved with Bitcoins for a few months now, maybe even a year. I recently decided to get my first USB miner and have been using Bitminter to mine. This is just as a hobby for now and to see how it all works. When i started mining the difficulty was "50,810,339". Now i have realised that my miner says difficulty set to "65,750,060". I understand that this is because it's mining in a new block and difficulty increases but does this mean that the difficulty will stay at "65,750,060" forever or does it reverse back to the previous difficulty after the block is solved ? Thanks.  For the foreseeable future, it will just keep going up every 2016 blocks. I am predicting that it will be around 600,000,000 by the end of the year. |
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Well, you need about 1200 Amps of 3 phase 120/208 power and you will use about 250,000 KWh per month. At that level, electricity could be your largest expense, by far, depending on the location so data centers are probably going to cost way too much to make sense. Even a data center in an area with cheap electricity will cost a lot because data centers have battery and generator backup and normally provide 24x7 cooling and security to the facility.
If I was doing it, I would lease an industrial building with enough power already installed to handle the load in an area with cheap industrial power. The pacific northwest seems to have some of the cheapest power in the country. An area with cold outside air would be ideal to keep cooling costs to a minimum. You would have to provide your own security.
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"By California law, all of the state's investor-owned gas and electric utilities must charge residential customers more per energy unit as the customer's energy use increases. This policy gives customers a financial incentive to conserve energy. Customers who are able to maintain usage at levels within the lowest-priced "tiers" of usage will pay considerably lower average rates per unit of energy used and much lower total bills than customers with usage in higher tiers." http://www.pge.com/en/mybusiness/rates/rateinfo/howratesset.pageIn the EU we have similar policies, but they seems don't apply to businesses (even to smaller ones, so you don't have to qualify for industrial consumption level). Is California the same, or do small (non-industrial) business consumers (which most miners are) have to pay these "green" tariffs? No, its just residential. Commercial and industrial get cheaper as you use more. |
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I think its all padding to support the primary purpose which is to stop Bitcoin from "undermining financial institutions".
I'm not sure whether the implicit linking of this with "financing illegal activity" is based in incompetence or in malice. Either way, I feel that this is the most important point. After all, stripping powers most prone to abuse away from financial institutions is one of the main reasons Bitcoin came into existence in the first place. If the FBI invest just one man-hour of web searching for this they'll find plenty of evidence of a serious and potentially effective attempt to "undermine financial institutions" and will even find the contact information of a number of bitcoiners that will proudly proclaim this intent. Which is why they will have to do something about it. They didn't bail out the banks just to have them overthrown. This is the biggest risk to Bitcoin. |
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In CA, these are my tiers
1. < 282 KWh = $.11
2. 282 to 367 KWh = $.15
3. 367 to 442 KWh = $.27
4 > 442 KWh = $.31 That is unusual and has nothing to do with economics. You can thank your politicians for trying to force a green lifestyle. In just about anywhere else in the world you pay less the more you consume. If you think about it, it makes sense. The power plant has to be built even if you use less, the transmission lines need to be maintained even if you use less. Larger customers are cheaper. In VA (roughly) summer first 800 KW $0.08 above 800 KW $0.09 winter first 800 KW $0.08 above 800 KW $0.07 Yes, its actually a law here. Many other states have similar tiers though, especially in the summer. "By California law, all of the state's investor-owned gas and electric utilities must charge residential customers more per energy unit as the customer's energy use increases. This policy gives customers a financial incentive to conserve energy. Customers who are able to maintain usage at levels within the lowest-priced "tiers" of usage will pay considerably lower average rates per unit of energy used and much lower total bills than customers with usage in higher tiers." http://www.pge.com/en/mybusiness/rates/rateinfo/howratesset.page |
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Normally you will pay a lot more for electricity in a residential area for power. The electrical lines going to residential areas are normally smaller and there are more service calls and maintenance expenses. Commercial and industrial areas have larger lines and very little maintenance costs so it is usually cheaper. I think people are going to be pretty surprised with their electricity bill when they start adding a bunch of miners to a residential area. I know in California, everything is on a tiers. You get your first bit of power for a decent price but if you get above a certain level, it goes up drastically. Adding a big miner to your house will almost certainly put you in the highest tier if you have tiers in your area. In CA, these are my tiers
1. < 282 KWh = $.11
2. 282 to 367 KWh = $.15
3. 367 to 442 KWh = $.27
4 > 442 KWh = $.31
On the other hand, commercial and industrial rates are right around $.10 KWh right down the street.
A KNC Jupiter is going to be about 550-700 KWh per month by itself so that already puts me at Tier 4 if I was to host one at home. Long term, running a miner at home is not going to make sense for most people. Traditional data centers don't fit the mold for mining either. I think you are going to see hosted mining as the only viable option for the vast majority of people very soon.
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There is no way it can be done with absolute certainty. The only way to be certain with anything (especially trust) is to do it yourself. If you buy a "card", it should come blank and you would load it manually with keys you generated in a secure, offline manner. Perhaps sealed, once you add the key(s).
A viable long term solution should:
1) Use addresses and keys generated by the end user in a secure, offline manner.
2) Keep the address and the keys separate until you are ready to spend. Addresses should be digital only and keys should be physical only. Theft would require both a physical theft and a digital one.
3) Provide for backups of the keys.
4) Be destroyed once the keys have been used and any remaining balance moved to a new card.
EDIT: Removed reference to storing keys and addresses separately since you can generate the address from the private key.
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The Committee directs the FBI, in consultation
with the Department and other Federal partners, to provide
a briefing no later 120 days after the enactment of this Act
on the nature and scale of the risk posed by such ersatz currency,
both in financing illegal enterprises and in undermining financial
institutions. The briefing should describe the FBI efforts in the context
of a coordinated Federal response to this challenge, and identify
staffing and other resources devoted to this effort.
I think its all padding to support the primary purpose which is to stop Bitcoin from "undermining financial institutions". |
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