People still talking about Tulips.  They said similar stupid things about the Internet. It will never change. Those that are outside looking in and deny the effects of FOMO |
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holy ETH pump batman
I think because Vitalik won some kind of award. https://bitcointalk.org/index.php?topic=3452619.0Or maybe the news of it being a non-complaint security must of got over turned. Cause it rising over $60 out of nowwhere is not ethereum like.  Both Ethereum and Bcash are being pumped significantly. There could still be an adverse ruling against ETH inspite of this pump and maybe even there could be an expectation that there would be an adverse ruling against Ethereum is part of the reason for the current pump? Difficult to know for sure, except maybe to see what happens in a few weeks if an adverse decision were to come out. Notice the dumping of EOS and DASH traded for ETH. |
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Bitcoin.com lawsuit reached 1000 participants, that within 1 week Scamming scumbag Roger Ver made a lot of victims. “Like many others i lost money due to confusing Bitcoin Cash with the real Bitcoin … £14,500 to be exact. I’m not sure if your group will be successful but hopefully you’ll let me stick around to at least see Mr Ver given a bloody nose…” Lawsuit details revealed soon. http://bitcoincomlawsuit.info/Could the missus of bitcoin.com and claim to be the "official" btc be considered misrepresentation and a form of bait and switch? How are they going to present this case? |
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Btw, I just wanted to take a second and set a few folks here straight.
You fkn big blocker trolls, BCash shills, and even some Bitcoin bulls who were whining all last year about too high transaction fees and how Bitcoin absolutely NEEDED > 1mb block size and like IMMEDIATELY.
With the Bitcoin mempool nearly empty and 1 sat/B transactions clearing in minutes, you guys can go rightly fk off for good. Seriously. Don't even try to raise that argument here ever, EVER again. Piss off.
Spent soooo much time arguing with you fuckheads last year, now you have fk all of an argument to stand on.
/rant
Good rant and on point. Be aware of special interests groups that will use any means necessary for their own self interests with full disregard to the principle of what the project is about. Let us be mind full of such individuals/groups and know that solutions that work take time to test and implement. If this did not work then another option would be explored. BCH could be likened to a parallel attempt to accomplish a similar goal in good faith I might add. However now that we have proof of a solid solution that works with out the need for drastic change, the alternative BCH/BCC/Bcash may now be on its way to obsolescence. (It is said that some proponents of that solution may have involuntarily worked to deceive the misinformed for personal gain). |
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Sweet  Just around the peek! Best part! Although Goldman’s contest is the first time that DNA has been used to store the private key to cryptocurrencies, his point was to draw attention to the amazing potential of DNA as a long term storage option. This new method of storing information is already being investigated by companies like Microsoft, which wants to add DNA data storage to its cloud, and as a potential solution to humanity’s mounting data problem. Who knows, maybe DNA storage will be the popular new way to store the private keys to your cryptocurrency as well. But as Wuyts demonstrated, this DNA storage method is still not impervious to hacks. He still needed the decode document even after the fact. In the case of the Bitcoin challenge, there were a total of nine files contained in the DNA fragments. The files were encrypted with a keystream, which is a random series of characters that is included with the actual plain text message to obfuscate its meaning. The keystream code had been provided by Goldman in a document explaining the competition. After running the code, Wuyts was able to combine the DNA fragments in the correct order to form one long piece of DNA. After working out some technical kinks, Wuyts was able to convert the DNA sequence into plain text, revealing the private key and unlocking the bitcoin (as well as some artefacts, including a drawing of James Joyce and the logo for the European Bioinformatics Institute). He had cracked the puzzle just five days before it was set to expire. |
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I wonder if this prize has been taken. Its a dna coded message with the private key to the wallet with 1btc balance. https://youtu.be/tBvd7OSDGgQ?t=916BTC/USD Bitcoin then, March 10, 2015 = $242.54 |
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In other news. Toronto Stock Exchange Operator to Launch Cryptocurrency Brokerage PlatformA wholly-owned subsidiary of Canada-based stock exchange operator TMX Group has announced that it will launch a cryptocurrency brokerage platform. TMX — best known as the operator of the Toronto Stock Exchange (TSX) — unveiled the plans on Thursday, stating that the platform would likely launch by mid-year and would allow clients to buy and sell Bitcoin and Ether, (no mention of other coins at this time) the two most liquid cryptocurrencies. The venture will see TMX subsidiary Shorcan Digital Currency Network (DCN) partner with Paycase Financial, a decentralized financial services provider based out of Toronto. BMO Financial Group has agreed to provide Shorcan DCN with banking services. Paycase CEO Joseph Weinberg said that the cryptocurrency brokerage’s launch represents the first “true institutionalization of cryptocurrencies as an asset class,” adding that it will help establish a bridge between mainstream finance and the burgeoning cryptoasset ecosystem. https://www.ccn.com/toronto-stock-exchange-operator-to-launch-cryptocurrency-brokerage-platform/ |
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Pretty sure you could get 1k S9's from Bitmain at somewhat less than retail.
Honestly you would get a better deal from bitfury. However pay attention to the return even with free power and hardware. For some hardly worth getting out of bed. Edit: if you do factor the overhead of real life operating costs minus hardware and power costs. You also have taxable gains and since you have no hardware and power costs you can't claim that to lower the tax burden. Yes I like your tax points. What's so weird is bitmain's gear has never been predicted to be profitable, by your or anyone's mining calculators. Yet maybe 6 out of 10 (of the proper ones) have been absolute beasts, printing money worse than the Fed, and resale values on ebay are wtf madly profitable anyway. In the end, I trusted them to price gear correctly more than my own calculations. But that era is over, with boards conking out more and more often, and altcoin asics ruling the roost. There is larger more efficient hardware that is not practical for home grown operations that are more efficient j/gh than is listed in the chart. |
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Pretty sure you could get 1k S9's from Bitmain at somewhat less than retail.
Honestly you would get a better deal from bitfury. However pay attention to the return even with free power and hardware. For some hardly worth getting out of bed. Edit: if you do factor the overhead of real life operating costs minus hardware and power costs. You also have taxable gains and since you have no hardware and power costs you can't claim those operating costs that normaly lower the tax burden. |
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Does anyone know what electricity costs are at the moment for big minigpools ? Sometime ago I read about 3000 USD per BTC But when the hashrate doubled so must electricity costs ;-) This figure is nonsense. There is better investment oportunities than mining bitcoin at the present price never lower. What you should be asking is why dispite that fact are there large mining investment still going strong. Here is a small hint and it has very little to do with power costs. Legal tax avoidance by reinvesting into mining the portion that would have been paid in tax. To produce one bitcoin a day using the latest hardware from Bitmain would take an investment of $2,366,417.19 USD or about 250 BTC to secure a quantity of 1,020 S9 13.5 TH ASIC mining units. That equals a total hash rate of 13,770TH or 13.77 PH. As you can see if you factor in just hardware loan repayment and power costs never mind any other type of costs and you run at a loss at $9500.00 edit if your pa $0.10 per kwh and still have to pay back hardware costs never mind other overhead costs - There are far better investments you can do than invest 2.3 million USD instead of hardware. At 0.03kwh there is profit at 9500 if you factor in power and hardware but even still that doesn't include any other overhead. However those that do mine know that BTC at this price is a buy opportunity rather than investing in hardware. Document: https://docs.google.com/spreadsheets/d/11QS1BBV11KNGTF8N_-fdfmjTZ3WzPQFbLfVrl5n6R8s/edit?usp=sharing |
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Bitcoin will drop back down to 2-3k
Yeah, halting every single mining operation in the whole white world, sure  Why not? Whats stopping it? Weve seen it before. Actually mining is disrupting itself every day by releasing faster and faster ASICs. Because buying btc outright vs buying back mining hardware would be a smart business move. |
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I should probably also point out that the the electricity consumption debate on BTC is being magnified by the media. The data centers of the olympics consume way more than Bitcoin does, but ofcourse we don't pay any attention to that. If you hear the media talking about electricity consumption try for yourself to atleast get a frame of reference on what such consumption means. They're just comparing it to countries but what about certain data centers and payment solutions? How does it compare to those? How does it compare to an industrial complex? Those are the things you don't hear. Everyone is just salty for not buying BTC for pennies (  ) This is a popular form of whataboutism, that I have heard here before. People trying to justify the costly nature of bitcoin by comparing it to the incomparable. Just like you did here, by comparing the worlds nr1 athletic event with 3,6billion viewers to a speculative digital asset and with maximum 5 million active users. The costs of running the bitcoin blockchain should be compared to the comparable - meaning to the costs of other blockchains! No other blockchain is comparable to Bitcoin, because no other blockchain is decentralized, and in the end, that's all that really matters. At first, bitcoin blockchain is centralized around pools. 3 pools are enough for a 51% attack. That makes bitcoin as centralized as most and more centralized then some. Second, centralization will only matter to low educated millennials, who are dumb enough to actually believe the "bitcoin vs fiat" sales pitch BS narrative. In the real world of fiance and economy, what counts is efficiency, not fantasy. 3 Pools that can quickly be abandoned by miners for other pools. Takes moments to do. In all honesty, I myself have always considered a 51% attack on any PoW or PoS coin a very low key threat. I was just replaying to the previous poster on why bitcoin isn't special in decentralization. Its true, considering how difficulty targeting takes time with BTC unlike other coins having collusion with this much decentralization is next to impossible for many reasons both social and technical. I do however have a growing concern with news articles and write ups coming from respected banking and tech institutions that elude to the idea that the only ground breaking technology worth anything is blockchain and that the rest associated with bitcoin can be cast aside. Bitcoin is the rising tide and this attempt to disregard the Bitcoin network as a trivial thing is disconcerting. Bitcoin has 3 important aspects to it that can't be ignored, disregarded or trivialized as unimportant. The size of overall hashrate doesn't mater much if the network is distributed between pools. Most people in finance see the bitcoiners that come with bitcoin as dead weight. They are interested in shaping the technology and using it to personal advantage. No one is interested in making a bunch of people rich just for purchasing a digital token. And they can't be blamed for this because in the capitalist world we live in, it's the only logical choice. "The loyalty of Bitcoiner" isn't exactly higly valued, because well, bitcoiners come to the market mostly to consume, not to create. Indeed that loyalty is not what I am implying. Its similar to anyone who may come along and say they wish to create their version of the internet. Some have argued that the most vocal people in "finance" are clueless with real world events and future prediction of human social evolutionary needs. Factor in my recent post on how some in finance say that Bitcoin is overvalued but fail to understand there are serious benefits for it. For instance some still feel the need to invest heavily into hardware mining for one reason or another and even tho it would prove more profitable to simply by Bitcoin at BTC/USD present rate. Here is the numbers for you to review. I purposely only included hardware and electrical costs to simplify an already complex mining example of what it takes to make a single BTC at the interval rate of one every 12 days and 1 every day. IMO you would have a better return if you solo mine if you had this much hash power. What does it cost to generate 1BTC? The fact that many don't understand what it takes to secure one bitcoin when statements like it costs fails to give the simple value at what interval is "ONE" bitcoin made. This document shows how much mining power you would need to security one BTC a day and every 12 Days since difficulty is adjusting every 12-14 days on average. To produce one bitcoin a day using the latest hardware from Bitmain would take an investment of $2,366,417.19 USD or about 250 BTC to secure a quantity of 1,020 S9 13.5 TH ASIC mining units. That equals a total hash rate of 13,770TH or 13.77 PH. As you can see if you factor in just hardware loan repayment and power costs never mind any other type of costs and you run at a loss at $9500.00 - There are far better investments you can do than invest 2.3 million USD instead of hardware. However those that do mine know that BTC at this price is a buy opportunity rather than investing in hardware. Document: https://docs.google.com/spreadsheets/d/11QS1BBV11KNGTF8N_-fdfmjTZ3WzPQFbLfVrl5n6R8s/edit?usp=sharingThank you for the well written reply. It is possible that I am clueless regarding bitcoin. I just don't find this possibility highly probable. I think that the mentality involving bitcoiners is a little religious and therefor can be irrational and unpredictable. That is why I also often get surprised here. I think that the overvaluation in bitcoin is currently supporting the overvaluation of fiat, and most people in finance realize this and it's benefits. I don't think that the motivation to mine bitcoin is a good thing. It promotes wastage of energy and creation of equipment that only solves one problem and that problem doesn't even have to exist. This energy, effort and resources could be used with a lot more common sense. Yeah, you would have better return alone, already by just losing pool fee. But sadly bitcoin isn't built in a way that it could be mined alone. Centralization and specialization were inevitable with the coming of ASICs and that was a big part of the reason why I lost faith in bitcoin. I see bitcoin ASIC mining as a foolish rat race that should not exist under the rule of common sense. All of this was about finding the cheapest solution to offer the most, now it's totally upside down. But thank you again for the well written post. I don't see many of them here. I did enjoy reading the stats that you showed, but I just can't agree that motivating bitcoin mining is a good thing. Bitcoin mining is just one aspect of the big picture, I simply use it as a way to help me and others see things from a different perspective. As you had pointed out, the nature of greed can undermine any project. But as this is an open market, if mining makes business sense then so be it. At this price point for many it does not. Yet the network continues to grow. |
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I should probably also point out that the the electricity consumption debate on BTC is being magnified by the media. The data centers of the olympics consume way more than Bitcoin does, but ofcourse we don't pay any attention to that. If you hear the media talking about electricity consumption try for yourself to atleast get a frame of reference on what such consumption means. They're just comparing it to countries but what about certain data centers and payment solutions? How does it compare to those? How does it compare to an industrial complex? Those are the things you don't hear. Everyone is just salty for not buying BTC for pennies ( ) This is a popular form of whataboutism, that I have heard here before. People trying to justify the costly nature of bitcoin by comparing it to the incomparable. Just like you did here, by comparing the worlds nr1 athletic event with 3,6billion viewers to a speculative digital asset and with maximum 5 million active users. The costs of running the bitcoin blockchain should be compared to the comparable - meaning to the costs of other blockchains! No other blockchain is comparable to Bitcoin, because no other blockchain is decentralized, and in the end, that's all that really matters. At first, bitcoin blockchain is centralized around pools. 3 pools are enough for a 51% attack. That makes bitcoin as centralized as most and more centralized then some. Second, centralization will only matter to low educated millennials, who are dumb enough to actually believe the "bitcoin vs fiat" sales pitch BS narrative. In the real world of fiance and economy, what counts is efficiency, not fantasy. 3 Pools that can quickly be abandoned by miners for other pools. Takes moments to do. In all honesty, I myself have always considered a 51% attack on any PoW or PoS coin a very low key threat. I was just replaying to the previous poster on why bitcoin isn't special in decentralization. Its true, considering how difficulty targeting takes time with BTC unlike other coins having collusion with this much decentralization is next to impossible for many reasons both social and technical. I do however have a growing concern with news articles and write ups coming from respected banking and tech institutions that elude to the idea that the only ground breaking technology worth anything is blockchain and that the rest associated with bitcoin can be cast aside. Bitcoin is the rising tide and this attempt to disregard the Bitcoin network as a trivial thing is disconcerting. Bitcoin has 3 important aspects to it that can't be ignored, disregarded or trivialized as unimportant. The size of overall hashrate doesn't mater much if the network is distributed between pools. Most people in finance see the bitcoiners that come with bitcoin as dead weight. They are interested in shaping the technology and using it to personal advantage. No one is interested in making a bunch of people rich just for purchasing a digital token. And they can't be blamed for this because in the capitalist world we live in, it's the only logical choice. "The loyalty of Bitcoiner" isn't exactly higly valued, because well, bitcoiners come to the market mostly to consume, not to create. Indeed that loyalty is not what I am implying. Its similar to anyone who may come along and say they wish to create their version of the internet. Some have argued that the most vocal people in "finance" are clueless with real world events and future prediction of human social evolutionary needs. Factor in my recent post on how some in finance say that Bitcoin is overvalued but fail to understand there are serious benefits for it. For instance some still feel the need to invest heavily into hardware mining for one reason or another and even tho it would prove more profitable to simply by Bitcoin at BTC/USD present rate. Here is the numbers for you to review. I purposely only included hardware and electrical costs to simplify an already complex mining example of what it takes to make a single BTC at the interval rate of one every 12 days and 1 every day. IMO you would have a better return if you solo mine if you had this much hash power. What does it cost to generate 1BTC? The fact that many don't understand what it takes to secure one bitcoin when statements like it costs fails to give the simple value at what interval is "ONE" bitcoin made. This document shows how much mining power you would need to security one BTC a day and every 12 Days since difficulty is adjusting every 12-14 days on average. To produce one bitcoin a day using the latest hardware from Bitmain would take an investment of $2,366,417.19 USD or about 250 BTC to secure a quantity of 1,020 S9 13.5 TH ASIC mining units. That equals a total hash rate of 13,770TH or 13.77 PH. As you can see if you factor in just hardware loan repayment and power costs never mind any other type of costs and you run at a loss at $9500.00 - There are far better investments you can do than invest 2.3 million USD instead of hardware. However those that do mine know that BTC at this price is a buy opportunity rather than investing in hardware. Document: https://docs.google.com/spreadsheets/d/11QS1BBV11KNGTF8N_-fdfmjTZ3WzPQFbLfVrl5n6R8s/edit?usp=sharing |
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I should probably also point out that the the electricity consumption debate on BTC is being magnified by the media. The data centers of the olympics consume way more than Bitcoin does, but ofcourse we don't pay any attention to that. If you hear the media talking about electricity consumption try for yourself to atleast get a frame of reference on what such consumption means. They're just comparing it to countries but what about certain data centers and payment solutions? How does it compare to those? How does it compare to an industrial complex? Those are the things you don't hear. Everyone is just salty for not buying BTC for pennies ( ) This is a popular form of whataboutism, that I have heard here before. People trying to justify the costly nature of bitcoin by comparing it to the incomparable. Just like you did here, by comparing the worlds nr1 athletic event with 3,6billion viewers to a speculative digital asset and with maximum 5 million active users. The costs of running the bitcoin blockchain should be compared to the comparable - meaning to the costs of other blockchains! No other blockchain is comparable to Bitcoin, because no other blockchain is decentralized, and in the end, that's all that really matters. At first, bitcoin blockchain is centralized around pools. 3 pools are enough for a 51% attack. That makes bitcoin as centralized as most and more centralized then some. Second, centralization will only matter to low educated millennials, who are dumb enough to actually believe the "bitcoin vs fiat" sales pitch BS narrative. In the real world of fiance and economy, what counts is efficiency, not fantasy. 3 Pools that can quickly be abandoned by miners for other pools. Takes moments to do. In all honesty, I myself have always considered a 51% attack on any PoW or PoS coin a very low key threat. I was just replaying to the previous poster on why bitcoin isn't special in decentralization. Its true, considering how difficulty targeting takes time with BTC unlike other coins having collusion with this much decentralization is next to impossible for many reasons both social and technical. I do however have a growing concern with news articles and write ups coming from respected banking and tech institutions that elude to the idea that the only ground breaking technology worth anything is blockchain and that the rest associated with bitcoin can be cast aside. Bitcoin is the rising tide and this attempt to disregard the Bitcoin network as a trivial thing is disconcerting. Bitcoin has 3 important aspects to it that can't be ignored, disregarded or trivialized as unimportant. |
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I should probably also point out that the the electricity consumption debate on BTC is being magnified by the media. The data centers of the olympics consume way more than Bitcoin does, but ofcourse we don't pay any attention to that. If you hear the media talking about electricity consumption try for yourself to atleast get a frame of reference on what such consumption means. They're just comparing it to countries but what about certain data centers and payment solutions? How does it compare to those? How does it compare to an industrial complex? Those are the things you don't hear. Everyone is just salty for not buying BTC for pennies ( ) This is a popular form of whataboutism, that I have heard here before. People trying to justify the costly nature of bitcoin by comparing it to the incomparable. Just like you did here, by comparing the worlds nr1 athletic event with 3,6billion viewers to a speculative digital asset and with maximum 5 million active users. The costs of running the bitcoin blockchain should be compared to the comparable - meaning to the costs of other blockchains! No other blockchain is comparable to Bitcoin, because no other blockchain is decentralized, and in the end, that's all that really matters. At first, bitcoin blockchain is centralized around pools. 3 pools are enough for a 51% attack. That makes bitcoin as centralized as most and more centralized then some. Second, centralization will only matter to low educated millennials, who are dumb enough to actually believe the "bitcoin vs fiat" sales pitch BS narrative. In the real world of fiance and economy, what counts is efficiency, not fantasy. 3 Pools that can quickly be abandoned by miners for other pools. Takes moments to do. |
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We see sometimes bitcoin price increase or decrease. How I can predict whether bitcoin price increase or decrease.Again, who controll this price.I appreciate if you kindly share your experience.
You may simply be asking the wrong question. I prefer to look at the motivation to buy vs mine. In this sheet you can is a simple example of how you can test the price floor. https://docs.google.com/spreadsheets/d/11QS1BBV11KNGTF8N_-fdfmjTZ3WzPQFbLfVrl5n6R8s/edit?usp=sharingThis example only factors in power and hardware repayment costs. I even include a line for no mining costs if that is even a thing. Even for die hard mining groups at this price point the option to buy BTC vs continuing to pay mining overhead is simple. Shut off the hardware and buy the coin. |
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As you can see if you factor in just hardware loan repayment and power costs never mind any other type of costs and you run at a loss at $9500.00 - There are far better investments you can do than invest 2.3 million USD instead of hardware.
Yeah, I would not recommend mining if your power costs are $.10/kwh. A serious mine should be down in the $.04 range. Over 9000! Even if your like myself and get 0.3c kwh your still better off buying as the above example does not factor in any other costs associated with mining. I quickly set it to 0.3c kwh so you can see for yourself. https://docs.google.com/spreadsheets/d/11QS1BBV11KNGTF8N_-fdfmjTZ3WzPQFbLfVrl5n6R8s/edit?usp=sharing |
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Cointelegraph recently posted an article estimating that most miners are barely breaking even at $8000. There's other news outlets running articles with the same mining's no longer profitable theme.
wait just a minute The FUDsters have been in here claiming that BTC is going to fall to the cost of production, which they put around @1000. Just which the hell is it? I been pondering over how to go about this debated question. And I suppose the best way is to show that both numbers are off for the simple fact that they do not consider how long it takes to make that 1 BTC. The fact that many don't understand what it takes to secure one bitcoin when statements like it costs fails to give the simple value at what interval is "ONE" bitcoin made. I have put together a sheet that shows how much mining power you would need to security one BTC a day and every 12 Days since difficulty is adjusting every 12-14 days on average. To produce one bitcoin a day using the latest hardware from Bitmain would take an investment of $2,366,417.19 USD or about 250 BTC to secure a quantity of 1,020 S9 13.5 TH ASIC mining units. That equals a total hash rate of 13,770TH or 13.77 PH. As you can see if you factor in just hardware loan repayment and power costs never mind any other type of costs and you run at a loss at $9500.00 - There are far better investments you can do than invest 2.3 million USD instead of hardware. However those that do mine know that BTC at this price is a buy opportunity rather than investing in hardware. Edit add link to document: https://docs.google.com/spreadsheets/d/11QS1BBV11KNGTF8N_-fdfmjTZ3WzPQFbLfVrl5n6R8s/edit?usp=sharing |
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You guys think Bitcoin is the only thing plagued by FUD? Look at Facebook: Years of nothing but bull rally and the MSM is all sunshine, rainbows and lollipops on the stock. But when technicals start to breakdown and signal a rollover in the stock, suddenly out of left field some shit FUD comes out about Cambridge Analytica. Perfectly timed, no less. Fucking hilarious to me. All markets are rigged. Considering there are...what...3 companies that control all of US media...they have it pretty much in the bag on how they can manipulate things. Before we had bitcoin many where clueless as to economy and market forces. However since then we have had a tsunami of newbie traders and market watchers and even some old school tactics by unsavory types expose the crypto community to things like penny stock fraud aka fraudulent ico's or fork's that lead to - insider trading - market collusion - and so on... Armed with this new perspective. What once was hard if not impossible to recognize by the general public, has been made slightly opaque in its nature. Factor in software analytics of usage cases and we get studies about how twitter participation has influenced public opinion in both social, and political perspectives. If applied to crypto market, factor in the open nature of the distributed model with its abundant market transactions. What the G20 discussion alluded to is that there is presently laws in place that can crack down on crypto exchange operations complying with conformity. IMO such a move will end another thorn in the crypto market. By removing the obscurity associated with the old paradigm of means of trade. Moves like this makes things like decentralized exchange a possibility. "Necessity is the mother of invention" |
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