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October 26, 2020, 03:49:40 AM *
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1  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: October 01, 2020, 05:38:47 PM
Apparently it's a 3 of 4 setup, so yes, one more arrest and those coins are gone (not really, but you got that one)



Then they have still enough time to update their setup to a 2 of 3.
2  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: October 01, 2020, 05:23:09 PM
The more coins locked-out for a long time, the better. Right ? Grin
3  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: September 15, 2020, 03:10:02 AM
xhomerx10, I created a new thread to answer the raw power used to build the Bitcoin blockchain so the discussion won't get buried under thousand of pages.

Would be great if you could contribute your work there !

Here's the thread:

https://bitcointalk.org/index.php?topic=5275873.new#new
4  Economy / Economics / Total power used to create the Bitcoin blockchain on: September 15, 2020, 03:05:55 AM
Just a few moments ago this question popped to my mind. I was curious and asked myself how much raw power was used in the process of building the Bitcoin blockchain.

Actually this is a very interesting and research paper worthy question to answer, after all we're building the new digital pyramids of our era brick by brick - or better block by block. I started the question in the Wall Observer thread, but I'd like to concentrate the discussion and the research in a specific thread so it won't get buried under thousands of pages.

xhomerx10 started to work on it already and just came up with a very interesting observation, that even the bandwidth should be accounted in the equation to get an accurate picture.

Here are the postings from the WO thread:


An interesting question just popped in my mind:

How much kWh was used to create the current Blockchain?

Should be somehow possible to calculate it based on the given mining hardware and mining difficulty.


From inception or for each new block?  


Purely from a scientific point of view. And from inception, thus the genesis block.

Would be nice to see(feel) the monumental work and energy that was put to secure the blockchain and to get an impression and a feel of how much power was used to create this distributed ledger.


An interesting question just popped in my mind:

How much kWh was used to create the current Blockchain?

Should be somehow possible to calculate it based on the given mining hardware and mining difficulty.

Possible to estimate, yes; but I don’t see how it could be easy.  That would require cost/efficiency estimates for every generation of miners:  CPU (various optimized implementations and CPU models), GPU (ditto), FPGA, every generation of ASIC...

Does a collection of those historical data even exist anywhere?  If you folks discussing this were to gather in the first instance, the effort may be worth a research paper.  Maybe one already exists (with data up to some past point).


Purely from a scientific point of view. And from inception, thus the genesis block.

Would be nice to see(feel) the monumental work and energy that was put to secure the blockchain and to get an impression and a feel of how much power was used to create this distributed ledger.

I don’t think that the historical electricity cost would give a clear view of the current security of the Bitcoin blockchain.  With ASIC hardware, you could easily outrun the whole early CPU-mined Bitcoin network at drastically lower energy cost!  Of course, as you continued rewriting blockchain history, sooner or later, you would slam into the historical point at which the real Bitcoin network’s hashrate exceeded your hardware’s capabilities.  From that point onwards, you would just get further and further behind with your fake blockchain, as the chaintip of the real Bitcoin network keeps advancing faster than you can chase it.*

Still, yes, the energy-cost accounting would be historically interesting.

purely for science

The real kind!

(* And one of the marvellous properties of the Nakamoto Consensus is that the “real” chain can be selected by an isolated node with no information except the block data alleging one or more consensus-rule valid chains.  Most-work (not “longest”) chain wins, and that’s that.  Not even a trustworthy realtime clock source is required.  It is the whole point of how this is supposed to work; but somehow, I often see people missing it—usually when they want to suggest some “improvement” which would break Bitcoin’s security without even achieving what they expect.)




What people forget on these type calculations is all those that mined but didn't win a block, that is part of the calculations as that is what creates the dif.


Working on it...

 Transferring 10 MB of data uses about the amount of energy in a AA battery which is 0.0039 kWh
Here are the top ten viewed YouTube music videos and the number of times they were viewed (while I compiled this tonight).

Song_Title_Artist__Uniform_Resource_Locator__Number_of_Views_
DespacitoLuis_Fonsi_ft._Daddy_Yankeehttps://youtu.be/kJQP7kiw5Fk6965149726
Baby_SharkPINKFONGhttps://youtu.be/XqZsoesa55w6555048616
Shape_of_YouEd_Sheeranhttps://youtu.be/JGwWNGJdvx84974976171
See_You_AgainWiz_Khalifa_ft._Charlie_Puthhttps://youtu.be/RgKAFK5djSk4721137015
Uptown_FunkMark_Ronson_ft._Bruno_Marshttps://youtu.be/OPf0YbXqDm03945458571
Gangnam_Style_PSYhttps://youtu.be/9bZkp7q19f03782347210
SorryJustin_Bieberhttps://youtu.be/fRh_vgS2dFE3338412458
SugarMaroon_5https://youtu.be/09R8_2nJtjg3281040028
RoarKaty_Perryhttps://youtu.be/CevxZvSJLk83172242295
Thinking_Out_LoudEd_Sheeranhttps://youtu.be/lp-EO5I60KA3072397098

 The average video play time is ~ 4 minutes which equates to about 40 MB of data transfer per video per view.
The total number of views for the 10 songs above is 43808209188.
This translates to 683408063.3328 kWh of energy for the data transfer alone.  

 I'm just warming up.  Thanks for the confidence and the pressure JJG, it will help me to achieve the optimal level of arousal required to complete my mission.

 Wait, should I even bother to include data transfer for pool mining or just the CPU/GPU/FPGA/ASIC power required for hashing?

  Don't worry @Hueristic.  I'll use the network hash rate in my calculation to ensure the energy usage from all miners is included.

edit: SMF seems to insert superfluous breaks when translating BBcode to HTML.


Damn, that's the spirit - awesome !

I was thinking of only the power required to run the hash rate. But if transferring the block chain to thousands of different peers at a specific time (different sizes, varying amount of nodes, etc) makes an extra impact to the total power usage, it would be awesome to include it as well for the big picture.

My main idea is to have a given number to show how much raw power was put into building the blockchain, to show that it is not backed by nothing, but that we are building the new digital pyramids.
5  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: September 15, 2020, 02:48:59 AM
This translates to 683408063.3328 kWh of energy for the data transfer alone. 

I'm just warming up.  Thanks for the confidence and the pressure JJG, it will help me to achieve the optimal level of arousal required to complete my mission.

Wait, should I even bother to include data transfer for pool mining or just the CPU/GPU/FPGA/ASIC power required for hashing?

Don't worry @Hueristic.  I'll use the network hash rate in my calculation to ensure the energy usage from all miners is included.


Damn, that's the spirit - awesome !

I was thinking of only the power required to run the hash rate. But if transferring the block chain to thousands of different peers at a specific time (different sizes, varying amount of nodes, etc) makes an extra impact to the total power usage, it would be awesome to include it as well for the big picture.

My main idea is to have a given number to show how much raw power was put into building the blockchain, to show that it is not backed by nothing, but that we are building the new digital pyramids.
6  Economy / Speculation / Re: Analysis on: September 15, 2020, 12:40:15 AM
New post by masterluc: https://www.tradingview.com/chart/BTCUSD/KF0wThdz-Regarding-current-market-actions/



Quote
As you can see, $10k level is very important for Bitcoin and was under siege multiple times in the past. From downside... Now the battle is going on from upside. It takes more time than I personally expected, but this doesn't surprise me much when I look backwards.

If Bitcoin hold $10k on weekly basis (i.e. weekly candle will not close below) - it will be a strong ground for further growth. And I'm sure it will.

You can also see blue trend escaping from giant consolidation triangle. As long as price didn't break it down - bullish development is fine. And as long as price is at bottom trend line - my suggestion is to buy.
7  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: September 15, 2020, 12:21:11 AM
An interesting question just popped in my mind:


How much kWh was used to create the current Blockchain?


Should be somehow possible to calculate it based on the given mining hardware and mining difficulty.

 From inception or for each new block?  


Purely from a scientific point of view. And from inception, thus the genesis block.

Would be nice to see(feel) the monumental work and energy that was put to secure the blockchain and to get an impression and a feel of how much power was used to create this distributed ledger.
8  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: September 14, 2020, 11:40:08 PM
An interesting question just popped in my mind:


How much kWh was used to create the current Blockchain?


Should be somehow possible to calculate it based on the given mining hardware and mining difficulty.
9  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: September 04, 2020, 01:41:53 AM
Always fun to see new guys taking Proudhon serious. He is probably the most loaded OG in this thread.
10  Economy / Speculation / Re: Calling top at $16500 (Even Newer!: $2483 bottom 19 Feb 2021 MtGox said so!) on: August 07, 2020, 01:47:25 AM
Funny how everyone seems to trash sgbett, even when he called almost the exact bottom of the last bullrun already on 7th of December 2017. In a different thread we would call a person with his price prediction skills "Master".  Roll Eyes

Rereading the first few pages of this thread gives a mild reality check. Hopefully we will all be better at realizing some profits in the next(this?) bullrun.

Reminder: I'm hyper bullish on Bitcoin and I totally can't understand how a smart person could ever be aroused of gigamegs blocks. But still trying to be open-minded and friendly(!).
11  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 27, 2020, 05:24:56 PM
Amazing day so far hahaha.

But what happened with Bob?
12  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 23, 2020, 02:40:45 AM
I want his 'medicine'
13  Economy / Speculation / Re: Calling top at $16500 (Even Newer!: $2483 bottom 19 Feb 2021 MtGox said so!) on: June 25, 2020, 10:39:10 PM
im outta here again for a few months, be back check what's up later on this year (unless one of you triggers me enough that I just can't bear not to reply!)

Enjoy your time sgbett! Smiley The good thing is, that we will know in a year in what direction we're finally heading. And that's always lots of fun comparing reality with old ideas. For me speaking, I'm on the opposite side of your trade. Tongue
14  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 09, 2020, 12:14:50 AM
close to 10k$ memes
15  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 02, 2020, 12:12:10 AM
The bull arrived ! Don't sell too early  Wink
16  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 11, 2020, 08:28:09 PM
Jesus, it was way more firework the last halving. xD
17  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 11, 2020, 07:32:42 PM
Congratulations to every wall observer !

Living in historic times. For the first time the yearly inflation rate is below <2%.

Let's fucking crush these central bankers in the next 4 years.


Big Fucking CHEERS!
18  Economy / Speculation / Re: Analysis on: May 10, 2020, 01:07:32 AM
Yeah, scramble to win or lose a few hundred dollars, git rekt, drama, blah blah blah.
A tale full of sound and fury, signifying nothing.
HODL

And here is an example of someone losing a lot of money.
19  Economy / Speculation / Re: Analysis on: May 09, 2020, 12:29:17 PM
Buy red sell green.

Buy blood, sell hopes.  Grin
20  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 08, 2020, 12:23:51 AM
^^ damn, filter out the plague panic and we are right on track


It was necessary.  We needed the volume spike to seal the bottom of the bear market.  

We only had to sacrifice mindrust to seal the bottom.  Lips sealed
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