This is a repost of a post that I had made when the flash crash happened. http://btctrading.wordpress.com/^ This link usually has good, if not the best, advance predictions on Bitcoin price It all adds in there, but most people I know sold a lot last month so they could buy at this month's prices. Around July 24 we got a good indication of low prices that would start the first few days of August and stay low through the month. Most of us sold. It's almost time to start the buying again. And I'm ready. Once the buying starts, it will stimulate the market with all the buying transactions of the non-hoarded coins and that will help drive the price back up, mabey even higher than it was. NOTE: Looks like some big players got together and sold a tremendous amount of bitcoin last night to create a flash crash so they could buy cheap today/tomorrow. There is nothing wrong with playing the market, that's what keeps it alive, but what these guys did last night was a very dirty move. The ritch keep getting ritcher it seems, and they don't care who or what they hurt. It would be nice to figure out who they are and get Vodlike all over those guys!!!!! http://www.cryptocoinsnews.com/news/happened-bitcoin-price-bitfinex-today/2014/08/14?utm_source=rss&utm_medium=rss&utm_campaign=happened-bitcoin-price-bitfinex-today^Methods used in bitcoin trading. Please note there are different ways to trade Bitcoin. Not everyone trades how we are used to on the normal exchanges. Also remember that when a national stock exchange starts to crash there is a built in "circuit breaker" when it drops to a certain point but bitcoin trading does not have this safety feature yet. |
|
|
|
|
RIP Hal Finney
Bitcoins proof-of-work guru
|
|
|
|
|
@Nikethemutt
When you get the miner in the mail, open up, check cables/connectors inside the miner and TIGHTEN UP ALL SCREWS ON THE HEATSINKS(They loosen up in shipping and don't transfer heat properly so after a few hours you get a demished hash rate if you don't do this). Put cover back on and start mining 24/7. You should do this with any miner before you plug it in. I work offshore for 28+ days at a time and it's all good. I would let run for 24 hours and check before you leave for your trip.(Check for stable hash rate and make sure psu cables/plugs are not getting too hot.
|
|
|
|
|
Android is my favorite. This November will be 2 years with this Droid DNA and it's never missed a beat and has accepted all Android OS upgrades so I always have all the latest features. My 14 yr old niece likes ios, but that's because her friends have one and they are made simple so a child or non-tech savy adult can use them. She has no interest in computers or programming technology other than to text and use Facebook. IMHO, most of the things I do on android can not be done on ios. Mass production for mass consumption is Apple's business strategy and it makes them a lot of money. But that's my opion, I don't want to hurt anyone's feelings, especially my 14yr old niece and her friends. The iPhone is great for some, just not for me because I require a little more freedom when it comes to what my phone allows me to accomplish in life. I have not used the new Windows phone, but had tried there first attempt back around 2007 for a month, so I can't really comment on it. That Ubuntu phone looks promising if you could get it on a high end HTC phone.
|
|
|
|
|
@matthis - million addresses in BitcoinJ
That list isn't real. It's been out for months. It was a joke. It uses the page number as a seed to generate those keys and addresses, they then get caught in your cache so it allows you to go back and fourth. Page one had some old wallets to make it look real.
If you don't know what I'm talking about, I apologize, but any time anyone asks the question that you just asked at the end of your post, everybody knows what your thinking and it can't be done at the present time or in the near future. Don't get me wrong, it's an interesting thought and a fun fact finding mission.
Someone else has already done the math on downloading/indexing a file that size:
A private key is a 256-bit value, meaning there are approximately 1.1579e77 possible keys (There are about 1.2288e66 invalid values, but subtracting them from the full set of values goes beyond the precision we're working with here). 1 trillion = 1e12
1.1579e77 values / 1e12 values per second = 1.1579e65 seconds
60 seconds in a minute, 60 minutes in an hour, 24 hours in a day, approximately 365 days in a year gives us 3.1536e7 seconds per year.
1.1579e65 seconds / 3.1536e7 seconds per year = 3.6717e57 years.
But wait, there's more!
Each of those 1.1579e77 values will occupy 32 bytes of storage space.
1.1579e77 values * 1.1579e77 bytes per value = 3.7053e78 bytes of data.
According to WolframAlpha, there are approximately 1e50 atoms on Earth. Even if you could store 1 byte of data per atom:
3.7053e78 atoms / 1e50 atoms per Earth = 3.7053e28 Earths worth of atoms
Beyond even that: According to Landeauer's principle, at room temperature, the absolute minimum amount of energy required to store one bit of information is 2.85e-21 joules.
The mass of the sun is approximately 1.988435e30 kg. According to general relativity, 1kg of mass will provide you with approximately 1.7867e17 joules of energy (look for a mass-to-energy calculator if you want to double check this).
So we're storing:
3.7053e78 bytes * 8 bits per byte = 2.9643e79 bits of data
Which requires:
2.9643e79 bits * 2.85e-21 joules per bit = 8.44822e58 joules of energy
The sun will provide us with
1.988435e30 kg * 1.7867e17 joules per kilogram = 3.5527e47 joules of energy
Meaning we would need:
8.44822e58 joules / 3.5527e47 joules per sun = 2.3779e11 suns
So, if you could use the entire planet as a hard drive, storing 1 byte per atom, using stars as fuel, and cycling through 1 trillion keys per second, you'd need 37 octillion Earths to store it, and 237 billion suns to power the device capable of doing it, all of which would take you 3.6717 octodecillion years.
|
|
|
|
@ ckolivas That's true, but Slush's Pool does take a lot of time to build up to your full hash rate and if you leave at the wrong time your current round shares dwendle down and disappear unless they are already being confirmed in a block, so when you try to hop between a pplns and a score based pool, you still loose. By the way, been meaning to send you a donation. I'll look for your wallet address right now. Thanks for the great work you are continually doing with cgminer and in the Bitcoin community. Is this still a good Btc address: 148KkS2vgVi4VzUi4JcKzM2PMaMVPi3nnq @ OP Mining is not a get Ritch quick thing. You need a lot of time to mine due to difficulty and varience. Luck also plays a factor with all this also. The term luck is used just to get the amount of bitcoin you have calculated for that time period(a certain amount of blocks for a certain pool to mine in a day = 100% luck) type of thing. Anyway, contract mining is not the best way especially if it's your only means of mining. You need varience. Varience is where you mine 2 or 3 different pools at the same time so if one pool has bad luck and you don't get a payout, you still problably get one from the other pool. I mostly mine from my house, but I do have some miners contracted(hosted) out. I pay 0.017 kWh per month for the hosted miners. But remember, most of the time a person contracts their miners out for alot more than the miner makes in bitcoin. The links below are some info on pools and profit comparisons over several months and a couple of miners I would reccomend. I have bought from both of those suppliers before so they are legit. https://bitcointalk.org/index.php?topic=416933.0http://www.eia.gov/electricity/monthly/epm_table_grapher.cfm?t=epmt_5_6_ahttps://bitcointalk.org/index.php?topic=486121https://bitcointalk.org/index.php?topic=1976.0http://minersource.net/collections/frontpage/products/bitmain-antminer-s3-available-july-26thhttp://m.ebay.com/itm/151390967478?nav=SEARCH |
|
|
|
|
So a block includes these 4 things:
1. A set of transactions
2. A timestamp
3. The 256-bit hash of the preceeding block
4. A nonce sufficient to make the hash of the block not exceed the current target
I now assume the transaction amount could be ZERO if that's the number needed in the control theorys feedback loop to ensure the proper amount of time a block needs to be completed to get 2016 blocks every 2 weeks.
Update: If someone could confirm or disprove this, it would be appreciated greatly. I can't find that transaction figures would deal with time in the block equations, so my theory on zero transactions may be false.
60minhr∗24hrday∗7dayweek 10minblock=2016 in 2weeks
Tcurrent=Tprior∗tprior/2weeks
D=work/2(32)=2(256)/(Tcurrent+1)∗2(32)
hashes/second≈D∗2(32)/600
Update:
To validate a block, a node checks several things including that the block’s hash does not exceed the current target, that the timestamp inside the block is not too far in the future or the past, and that all transactions inside the block are valid. So now I'm assuming zero transactions = no invalid transactions. This would make the node accept the block and cue it to be confirmed while transmitting it to the other nodes.
Last Update:
I had totally forgotten the fact that transactions happen everyday without fees, so I now realize that a block with no transaction FEES doesn't mean there wasn't any transactions and most importantly a block can be solved with zero transactions. Sorry for the madness, just trying to understand block #317553.Time to log off, relax and enjoy the pools good luck for awhile.
|
|
|
|
|
Those calcuators are not perfict, but they will come out with more efficient miners. The 37ghs miners I was using in November used 340watts. So I sold and replaced with new ones(180ghs/370w and 24ghs/60w), which I sold and replaced with(1000ghs/1120w and 32ghs/40w), which I sold and replaced with(900ghs/860w and 443ghs/370w). This is the system I've had to use to keep making profits along with certain pool strategies. If it gets to a point they can't improve the chips, they will have to supply more chips that are under volt/under clocked extremely and/or find another style of mining like they have before(ie..solo to pool to original network to getwork to asic and stratum). But yes, the miners you have now will most likely be obsolete in early to mid 2015. Also remember only 21 million bitcoins will ever be mined, so the price will go up dramatically as long as people keep utilizing this p2p system.
|
|
|
|
|
I just logged on, afford what?
|
|
|
|
Didn't Stephen Hawkins have a two hour special, where he proves the answer of this topic. This link is only a minute of it, there should be another hour and 59 minute video there where he proves the science behind it, the numbers don't lie. http://m.youtube.com/watch?v=1zblTCsThDE |
|
|
|
|
Hi Robyone,
Everyone tries it at first, it's all a big experiment and is actually really fun in the end. The last two days were so exciting, I have a thrill seeker personality(high highs/low lows) so when we nail blocks down like that it so extreme. Slush has the only pool that can give you that kind of ride. I was high on slush last night!!!!!
|
|
|
|
|
We were querious also, thanks for posting. The off topic threads are where we can enjoy life a little, for some mabey a little too much. I mine Ltc on wemineltc.com, but there are scrypt pools that mine the most profitable coin at the moment and then pays you in your coin of choice.
|
|
|
|
|
Just woke up, when did the pool hoppers start leaving? That's going to hurt us today because even if they come back later, it will take the 12-18 hours to fully work back into the pool once they log back in. You would think with all the years of info on this form they would understand hopping doesn't work. These pools are score based(slush) and pplns(most other) and they are set up, designed and programmed to make a pool hopper loose both when they leave a pool and when they log into the other pool or back into this one. It's built in to make you loose if you do this. I hear the same people constantly crying about ROI and difficulty. Fact is I make very good profits from home mining, you just have to reasearch. If pool hopping worked, we would all be doing it, but I like to make good profits, so I don't hop. It's all about varience and time. Sorry for the rant, need some COFFEE.
Update: Got the coffee, it's been a great couple of days at Slushs Pool. You have to love 316% luck!!!!!!
|
|
|
|
If there would be a problem like that it would most likely be only in the front end of the pool(what you see on the website). The back end, where the mining actually happens is a separate entity. Even if the website totally goes down or gets errors, the back end keeps mining correctly. You can also put in a service ticket on the website with your concerns and Slushs team will look into it for you. http://support.bitcoin.cz/Tickets/Submit |
|
|
|
|
Be very carefull about making coins that may look as having monetary value to law enforcement that doesn't understand bitcoin. Laws are vagly written about making currency in physical coin form and I have already read about real problems concerning this in the us. It breaks some old laws that have been on the books for years. Only the government can make a coin that holds monetary value in the US. You could argue it's only a set of keys but you would have to make that defence in a court of law after possibly being arrested for illegal minting coins holding monatery value. I'll try to find the article again and post a link.
|
|
|
|
Is it generally agreed that Slush has been trustworthy and nothing shady is happening?
 Does anyone actually make sure when the pool finds a block, that it actually gets distributed to its workers? There are actually certain long time members of this community that spend a lot of time trying to prevent scams and other dishonest activities here. I'm sure they would be all over a theft by a pool operator who also uses this forum. Slush is legit. Always has been, always will be. Always Watchinghttp://imgur.com/E1VK8Fd |
|
|
|
|
What I've done is sell old ones, not as easy as it sounds, and replace with new efficient ones. The new s3's are really great to upgrade rigs with(450ghs/370watt). I'm in the same boat as you now with the electricity avalible so I depend on having my new miners hosted unless they come out with more efficient miners. I have also under volt/under clocked some to help me add more but those miners had already made their share so I could justify bringing them down.
|
|
|
|
|
Show Posts
