When block rewards become less than the average fee per block, mining should be renamed to "block confirming". That is when mining will end, which should occur well before 2140.

How many kW max? I mean, I know it is free but how much power can you draw in your house before all the main breakers trip?

5 x S7's, which you can get for $10K, would need slightly over 6kW. If you can easily power 6kW worth of mining equipment you should start looking at cheaper inefficient used hardware.

I don't know if it is profitable for most, but looking at the hashrate still increasing over time mining certainly is not dead.

http://bitcoin.sipa.be/

By then the fees would be so much larger than the reward. People who mine would be operating their miners for the fees and not the block rewards. When the last satoshi is mined nobody would even notice that the reward has disappeared and they won't suddenly stop mining.

So nothing abrubt would happen to the value of mining hardware when the time comes.

Also, since this is so far into the future do you really care? Today's mining hardware would have been long sent to the scrapyard by then.

I think big blocks would have a disproportionately negative effect on grassroots distributed mining operations such as p2pool. Because of the 30 second p2pool blocks, the effect would be far worse than for a regular pool or mining farm.

Ok, so the hashrate contribution of p2pool is low, but why kill a good thing?

I think a more appropriate term for this would be encoding - using codes to represent larger blocks of information that is already known by all parties. This is usually way more effective than blind data compression.

No. I would even go further and say that 2 different people who are closely related outside the forum should not escrow for one another. That is like having a judge and a prosecutor who hang out together after work everyday. It stinks.

Of course, all this is difficult to prove in the online world.

I have a well connected node with about 70-150 connections that serves around 600150GB of data a month outgoing. I don't run it at home though but in a datacenter.

For some reason my home node on Verizon FIOS only gets 30 connections max. I think it uses around 15GB/month. Verizon is unlimited for now so caps are not a problem at this time.

Edit: A few months ago my node was only sending out 150GB/month of data. I just checked and the last month it sent out 600GB of data. It must be getting popular with SPV clients .

Will the S7 and ATX PSU fit inside a gutted S2 case?

I have been a miner since 2011 and I find the Mining and Technical discussion sections very informative. This is why I continue to visit this forum. You can't find the wealth of information that you can find here elsewhere.

As for the Bitcoin Discussion section, to be honest, I consider it to be mostly chit-chat and not to be taken seriously anymore these days. For technical reasons, I am against BIP101, so maybe I am don't feel the alleged censorship as others who are for this BIP might.

What do you think Bitcoin represents? It is impossible to understand your argument if you don't clarify this.

I have thought of leaving the forum because of the numerous garbage and troll posts that appeared in the last couple of years, but not because of ideological reasons.

You should assume there is a camera. Not necessarily on the machine but on the premises.

However, note that it is not that difficult to disguise yourself. I once was part of an advanced leadership course that (as part of the training) required you to role-play for a week a certain character that was so unlike yourself. This included using professional disguise kits to change your appearance. Believe me after a little bit of disguise application (plus changes in posture, demeanor) my course mates did not even recognize one another initially.

One thing to note though is that a camera on the machine itself may be able to surreptitiously do a retina scan if you look at it directly.

Don't you know that Elwar converts his entire paycheck into bitcoins through BitpayWage? It is a well known fact on this forum.

For regular people, you can only deduct donations made to charitable organizations. Payments to random people are not deductible.

http://www.irs.gov/taxtopics/tc506.html


The exception is if your faucet is operated by a qualified charitable organization, and giving out coins is part of the organization's charter. But this doesn't appear to be the case.

The transaction is not visible on blockchain.info. It was seen by my client ( v.11 full node with about 40 connections) and still remains unconfirmed. I will open a ticket with the details.

I got a payout 9 hours ago but it is still unconfirmed.

I just realized that Genesis does not include any transaction fees into their daily payouts. I guess they always included their own transactions into their mined blocks, but if they don't mine any then these transactions stay unconfirmed for a long time.

Well, their app generates a QR-codes for the checkout scanner, so I don't know why they don't make it such that you can load up the app in the same way. Also I have not seen e-gift cards delivered via QR codes - more like some number that you can copy and paste on your desktop computer but not always on a phone.

I can't wait for the day when people can load up their Starbucks app directly using bitcoins. Then people can keep their silly coffee purchases off the blockchain, regardless of whether we have > 1MB blocks or not.

Today to buy coffee using bitcoins still requires 3 steps:
1) BTC -> Starbucks card via CardCash, Gyft, etc.
2) Load app with card number. This can be really annoying for the lazy people of today as it requires typing in over a dozen number into their phones.
3) Use the credits.

Bit license only affects certain types of Bitcoin related businesses. Otherwise, NY residents are free to use bitcoins for end-user related stuff.