The sad thing is that historically you would always make a better investment by buying and holding bitcoins than buying mining hardware.
Others have pointed out that early GPU mining was profitable at current BTC prices. In addition to that, I paid $1500 for my Batch 1 Avalon which made about 600 BTC in its lifetime. When I gave it away for free to a friend in Nov 2013, it was still making a few BTC a month. Edit: That $1500 would have bought me at most 120 BTC around the time I paid for the Avalon. |
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"Crooks" stealing < 1kW of free electricity from their apartments, dorm rooms, office -> decentralized hashing.
This is not really a bad thing for Bitcoin.
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Does this provide more entropy than something more common and practical, like the camera on your phone? I would imagine that if you hashed a 24-bit 10 megapixel random image you'd get a random number with pretty good entropy. After all, each pixel can be considered as an independent photon counter.
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You need to build your new block on top of the longest known blockchain for it to be accepted by the network. This is why everytime the network finds a new block all miners must discard their work and start from scratch.
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I should note that the transactions went through OK in spite of the quirky network behaviour.
Keep in mind that blockchain.info is not the network and it doesn't see everything that is going on in the entire network at that very instant. It is just a well connected node. It could suffer from network glitches when under high load. |
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It is what it is. And I am glad that it is what it is. You don't have to worry. I am what I am. Am not?
No, it is "I think therefore I am". It obviously follows that you are nonexistent. |
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Thor is bearish.
How about Odin? |
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I would imagine most of the Bitcoin network's computing power is located in the United States, and most of this is probably in California.
Why would you imagine this? Because of California's super cheap power rates? |
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Come on, it's a wiki! Anyone can edit it. Look at the revision history. People keep correcting it and this fucker Gersics keeps changing it back to the scam website. |
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I stopped doing business with these spineless jellyfish last year because of this. Yes, I understand they are in a difficult position caught in the middle between their customers and the authorities. Well, too bad.
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So, what did you end up buying with your Bitcoin currency OP?
Nothing, ofcourse. He was "investing"... Unless you count the Euros he bought when he sold the BTC. Why the quotes? Should I ask you the same question?  How about using bitcoin for what it's useful instead of treating it like a lottery/a cult/a stock? Did that ever cross you mind?
You are ofcourse here because bitcoin will make the world a better place? Exactly. Glad you understood. By solving banking problems for criminals? Yes, I might well be considered a "criminal" in certain jurisdictions just because I believe no authority has the right to know exactly how much wealth I have. Or because I want to send money to family overseas without excessive restrictions. Or because I simply want financial freedom. |
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Shit, if you can't handle all those zeros, decimal places and precision just use scientific notation.
1 Satoshi: 1.00e-8
21 million: 0.21e+8
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What's QE5? A negative Federal Funds rate?
I believe this would have little effect on the price of BTC. Banks are still turning around and lending this money to regular people at typical rates of 8 - 20%. Most people would not get to see this extra liquidity.
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Hard to fault anybody for taking a 100x gain. Personally, I wouldn't have sold everything. I'd have kept 5-10% of my stash and checked back 5 years later.
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I don't get why a lot of people are complaining about the ethernet port placement. If you're going to rackmount it, isn't it easier to have ethernet in front just like many rackmount switches are setup?
Spondoolies-tech also has their ethernet port up front for their rackmount miners.
People trying to sound like they know anything about running a datacenter  Yeah, I was actually happy with that design choice as well. I didn't expect it to be a point of contention. I'm happy with ethernet port up front - I prefer it (and yes, I will mount my S2 in a rack). Yes indeed. My racks have too many power cables in the back. Routing the network cables in front would help to keep things more manageable. |
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So do you actually need a motherboard or host computer for this thing to work?
If so, that seems retarded.
Yes. Well considering you could put 6 of these together (assuming spacing with risers and your mobo supports) that's pretty nice. It allows you to scale well as well. But since these are never shipping, it doesn't matter  Supposedly you can also use the USB connectors, so you don't need to go back to building 2011-style contraptions with motherboards, risers and GPU-shaped devices hovering above. |
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Oh no! A fifty-one percent attack is imminent!
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This should tell you something  Hint... It's called bullish divergence. Until it's neutralized, it is a buy signal It's even more prevalent on the hourly, and is slightly visible on the daily You really need to wait for at least 1 green bar and a change in direction in the RSI to confirm the divergence. As presented, the chart is not quite ready. |
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 People on this side of the pond are definitely loading up too. <-- Questionable conclusion IMHOWhen this thing gets back up to 800+ where it should be at... In all fairness, another quite possible (if not more likely) interpretation of this message is that CoinBase simply does not wish to risk the company's financial well being, by holding Bitcoins in any excess (excess defined: - an amount of something that is more than necessary, permitted, or desirable) and so they don't end up "holding a bag", as things are getting worse and worse for Bitcoin valuation. It might be their preference to "sit" mostly on cash and as far as I know, they have been having Bitcoin shortage, most of the time for the past few months, since the major downtrend from $1000's level started. P.S. I would prefer to be wrong on this, but one has to agree, them (CoinBase) keeping saying that there is huge demand of Bitcoins from their customers, while the price keeps falling down for months now, makes very, very little sense. My anectodal experience is that there is a huge demand in the US cash/face-to-face market. The past weekend a bunch of localbitcoin traders went out of the way to contact me asking if I could sell them more coins to replenish their dwindling supplies. All this while the price on the online exchanges is crashing. Go figure ... |
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The media sources listed in survey seem to be predominantly those that "young people" visit. I am not a young person, so I've never visited many of those sites to get my financial news.
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