I don't think there's just one single reason why the hashrate doesn't drop on a price dip. These are some of the reasons that might contribute to the phenomenon:
- a miner running an asic farm can't switch pow algo's, so he doesn't have a lot of choices to start mining on a different chain. As long as he produces more btc than his hw cost, he"s probably better off if he keeps mining... Even if he can't roi.
- some amateurs don't care about profit, they just mine to keep the diff high
- ignorance
- people that keep mining because they believe the price will rise again, but don't realise they're probably better off if they'd stop their mining and buy btc directly instead of paying more for their power than they generate in btc
I think you're close to the truth on all those points. Too bad I cannot really state such things in a peer reviewed paper.  I was also thinking that perhaps some parties have early access to new hardware and can reap the really high profits you get when hardware is much better than what's out there. What you you think of that hypothesis? |
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I reverse engineered the bitcoin network mining over the last couple of years and looked at the sustainibility of it from an economic point of view. My research was just published in a peer-reviewed journal.  In short we estimate that between 2012 and 2016: - Two billion dollar of bitcoin was mined ($2,007,950,000, based on daily price) - The miners ran a communal deficit of approximately $558 mln at an energy cost of $0.12 per kWh. An energy price of $0.03 per kWh is required to run a small profit. - Approximately $2.1 bln was invested in hardware. (of which $330 mln was still operational at the end of the measurement period) - Bitcoin hash rate increased by a factor 347,000 - Electricity costs increased rapidly and amounted to almost 900 million dollars. - The estimates of energy consumption of the network are in line with De Vries (2018) and Bitcoin Energy Consumption Index(BECI). - Payback time for hardware was usually between 100 to 300 days, but could be as short as three days. However, his time was often too short to earn the investment back before the mining ceased to be profitable due to increased network hash rate You can read more about it here: https://medium.com/@jonaderks/where-is-the-money-in-bitcoin-mining-64e13d2c94c0Tell me what you think! I can imagine some findings don't match with your personal experiences. |
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Felt bad when somebody dumped on a large buy order of me on Friday at 3k, but was a gift from the heavens |
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Yesterday my hard drive died, it had a wallet in 30K DGB, I did not make a backup like a fool, if in the future DGB will have a price of 10 bucks, I will cry.
You will probably be able to get somebody to recover the files if it is worth it to you. Also, it is not really that hard to do it yourself: https://www.youtube.com/watch?v=Zcr0ah8hjAk |
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Airdrop countdown is over, when will tokens be distributed? How to see them at Mist wallet? http://expex.io/On a sidenote, please stop using stupid Discord and move debate here! This forum is the ultimate recruitment tool. No or little activities around here and you can bet on community vanishing. This forum is pretty crappy. It would probably be better if everyone just used the expanse forum. forum.expanse.tech I never really liked coin specific forums as it just makes it a hassle when you follow a lot of coins (I follow about 30 of them). |
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I have promoted Viacoin to so many friends, still do, but stuff like this makes me laugh and, at the same time, hope those friends will not ask me about this when I see them at a party. On a totally unrelated note : don't promote coins to friends of your wife... |
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The dogecoin price is 68 satoshi , i think dogecoin can increase 100 satoshi . h
The highest is 166 satoshi
no chance, till the end period of this year. For now, 68 satoshi might be the highest price Dogecoin can reach in this period. And.... It's 79! |
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I was wondering. Why I cannot post images? Too new of an account. |
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Still no info on premined superblocks total in the spec info..... Tisk tisk...hide MUCH>!>! this is basic crypto..
or ya still giving out 5 years worth of crw coin in wages in there country to wink wink promoters that never promoted in crypto land just dumped there promo?
Did ya get 5 years out of them? lol nope..
Still not labeling the wallet with version number, its no wounder people always getting confused with wallet version or correct wallet version ( the zip file should be name the version as said months ago to crwfan )...
Still no infernal to back u up, i wonder why :_)>
Give to those that dont do nothing to get given and hiding info that should ALWAYs be clearly showin in spec info... i did warn and try help but nah.. fall on ur own plastic swords...
PS i was CRW biggest bagholder and never dumped i held but like mr,Doolil ( stonehenge) said that was then and this is now... how people change hey... to those AL's that wanted me to dump on them, believe be u would be broke now...but i dont dump i just let em die...as least i have the moral upper ground.
For a dev team not to listen to helpful info and questions from there longest miner/trader/holder/promoter show there lack of respect and were they are now.. there plenty of great devs around there not many pros at what i do.... ur easily replaced im not on the other hand :_)>
And u send baby crypto trolls to try troll me, every 1 that actuly old guards lolin so hard, but plz send more they do love the popcorn at the end :_)
Da ja
Stabycroc ;_)>
Date Registered: April 24, 2018, 10:22:15 AM  |
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Interesting project. Any people here that were in this coin from day 1? Seems to be a coin with strong community support.
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Trezor Integration Update
After our CRW devs did all the necessary code changes, Trezor informed us they can’t add us because we have the same address prefix as BTC. Our dev Ashot is now working on the address change, the plan is to release this address change together with our PoS release by end of 2018. Means that we will have completed all requirement for Trezor integration. Hope to have Trezor online soon!
Great job! Also a good way to store masternode funds. |
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Listing XZC on houbi exchange is very good signal for all investors who have trusted in this coin . This fact will stimulate zcoin price on the growth way and I hope it can reach 50$ in next months.
Really big move, indeed! |
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From May 1st to June 24th, Digibyte fell from about 0,049 USD to 0,018 USD: -63% price
From June 24th to July 9th, Digibyte got up from 0,018 USD to 0,045 USD: +150% price
If you held DGB from May 1st to July 13th, you're in loss. from 0,049 USD to 0,035 USD: -28% price
The thing to take from this is that you should buy large decreases in price like -40% or more and sell when the price doubles. No need to be greedy and go for 10x price increases that won't ever happen in a few days.
So buy low and sell high?  |
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what i don't get about the taxes thing, is lets say you purchase something with crypto. what tax would be applied to that event?
The value you got for the crypto minus what you paid for it is a capital gain. That is the taxable event. Every trade, every transaction now creates a taxable event. If you took a loss then you can deduct the loss (if you can document it) from your other capital gains. When you buy something it probably also includes VAT. In the Netherlands, they luckily do not have capital gain, they just tax you a yearly 1-2% on your crypto as a tax on your assets.  (as long as they don't see it as a form of income or something that should involve VAT) |
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Ann updated (check first page)
] Nice, clean and clear! |
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Im so curious that why do you need blockchain for this project?  I'm curious how you can ask such a thing. Just trolling? Perhaps the non blockchain version of bitcoin, GOLD, is something you should investigate  |
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Status of PoS switchHello Crown Community, the core team would like to inform you about the current status of the switch from our Proof of Work (PoW) to Proof of Stake (PoS) consensus mechanisms. As you have been previously informed, the main reasoning behind this switch is that PoS provides increased network stability and security for our protocol. It is also our first and key step towards our ultimate goal: Crown’s unique replacement for PoS and PoW, the Crown Consensus Mechanism (CCM).In light of this proposed switch you have all made the brave decision to make this change to our network as the proposal passed in our last superblock. This change to a Crown tailored Proof-of-Stake based protocol will have tremendous benefits for our platform once completed. Now we must fund its development and will be bringing on developers who have successfully completed this process several times in the past and as such have extremely unique skillsets. Our own developers are taking on our API and other platform related features, so this experience comes with a cost that we will have to bear as a community to progress forward. Our current PoS-switch funding situation is as follows:
BTC Address: 1LitBBx2Mmgiaeyd8S61sV3S2kcDnkEjX — 1 BTC
CRW Address: 17ny5Enj9q8vZ1Jt4HE4jf64GR6RGyvHj6 — 37,312CRWWe have managed to raise around 50% of the $100k as the current state of the crypto markets’ price situation is not helping our cause. The funding that has been raised is coming from several team members and other close Crown partners. From here we are asking you all to contribute to the above addresses to help us push forward with this move. The cost for this switch is $100k USD. This move will increase your node rewards, protect your network, and put us in a place where we be able to scale our network. The next step is down to you! For questions or to discuss this move further, feel free to join us on our Mattermost (mm.crownlab.eu) or Telegram ( https://t.me/crownplatform). Thank you for your trust and support of our community project - The Crown Core Team Good to see so much money has been raised already! With the current prices the goal could also be met by just waiting for the next boom in crypto prices. |
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They just shared on discord that the reward structure will change at block 160,000 to stop the inflation: @everyone Rewards Structure Announcement The rewards structure has been updated to address the issue of hyper-inflation. Why did we do it like this in the first place? When we first put the specs together, we did not foresee the problem of hyperinflation. This problem was later identified by community members and we launched an investigation internally to research the problem. We discovered that if we had continued with the rewards structure in place that we would have reached our projected max coin supply in the next 6 months. This is obviously not a sustainable distribution of the coin and it would have caused a massive dumping of the coin onto the market. In order to protect the current and future coin holders value, we have adjusted the coin rewards structure to distribute the coins over a longer period of time to address the problem of hyperinflation. Wth the new structure, the coins will be distributed over the next 16 years. We accomplished this by increasing the block time from 53 seconds to 90 seconds and have reduced the rewards from 400 to 320, starting from block 160k. What this will accomplish is a slower but more sustainable distribution of rewards which will prevent hyperinflation and thus protect the price of the coin long term. We will continue to monitor the coin structure and if there are any problems in the future, we may have to make future changes, but we do not foresee any at this time. You can view the updated coin specifications at https://apollon.one#spec. We’re appreciate your support for Apollon and XAP and we thank-you for your understanding during this transition. Thank-you, The Apollon Team |
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I wonder that what's the big deal with masternode? isn't it just a Proof-of-Stake rewards type thing? It requires a bit more effort than that. You need to get a VPS going for it. |
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