and transaction fees also aren't worth it and then everyone just stops mining?
And so there's no new transactions updated? This might happen if bitcoin keeps dropping.
No it don't occour (even if there could be some trouble): when less people mine the difficult will drop so mining rate will remain pratically costant. Indeed if a lot of people stops to mine in few days the correction of difficulty can took more time to occour so the transaction will slow down for a couple of weeks or so. To add to this statement; Then you would make more BTC/day, effectively balancing it out! No you don't (or at least you don't at the beginning): let's say that 50% of miners stops to mine in the some day. Difficult will stay up for 2000block, but now it will take duoble the time to mine some number of blocks. So instead mining a block every 10minutes it will took 20minutes and the difficulty will adjust in 4 weeks instead 2. And if the drop is higher is even worse: if 90% of miners stops it will took 100minutes to mine a block and so it will took about 5 months to adjust the difficulty level to the new network power. Indeed is really low the probability that a big number of miners stop in few hours to mine. |
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I think you guys are missing the important point  A government like that would not adopt Bitcoin, because it is protesting the austerity measures. Meaning, it doesn't want municipal budgets cut. Meaning, it will simply create a new currency and print what's needed to pay the bills. It's a little more complicate: the austerity measure that Italian government wants to apply will wipe out de facto all the small towns, removing all the autonomy they've and putting them under the control of big city administration. In a mere economical point of view that can be undestarndable but viewing it in a more ample angle that means that all the local tax collected went in a big cauldron owned by the major of the big city: the big risk is that I pay tax that never be used in my town, and that the control of the town is not anymore in the hand of its citiziens, and that's not democratic at all. |
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and transaction fees also aren't worth it and then everyone just stops mining?
And so there's no new transactions updated? This might happen if bitcoin keeps dropping.
No it don't occour (even if there could be some trouble): when less people mine the difficult will drop so mining rate will remain pratically costant. Indeed if a lot of people stops to mine in few days the correction of difficulty can took more time to occour so the transaction will slow down for a couple of weeks or so. |
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I'll vote 4$, but I can see it going lower. To me, 4$ is where miners will lose a lot of interest. The network hash rate will fall violently, but it won't really impact much once the difficulty changes. The question is when will people stop caring about it from a production standpoint, and 4$ seems logical to me. At much below 4$, the amount of miners could probably fit in one room, running 2 5850s and a Celeron  In some Europe country with the cost of energy in the 0,3-0,6$/KWh range the interest will drop well before 7$ (in Italy for example is totally wortless to mine even now unless you've a 2-3GHash rig with high efficiency powersupply - and even that way you can pay the energy with basically no earning) . At 4$ is totally antieconomical to mine for everyone unless difficulty drops below 1,200,000 (and even that way you can earn where energy cost 0,2$/KWh only some cent/mont): if we reach that point there will be only few miners that can sustain the costs and probably we can see a drop below 1,000,000 of the difficulty. But as long as the reward halves in 2012 mining becomes totally unsustenible for almost every one so is true that probably we have only some tens of miners that keep all the network on. |
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A Bitcoin joke
Two friends are sitting in a pub having a few beers and a relaxed conversation when one of them changes the topic:
"So how did you manage to become so incredibly rich with Bitcoins?"
"Never mind!"
LOL that's fantastic (and true  ) |
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Hollie (former know as Ninja) has ordered 2 laser engraved bitcoin cards, but never payed for them even if I've solicitied her many times (and we are talking of 0,5BTC...)
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Second tranche shipped today |
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Hi, I can sell you a Sempron 145 + a Gigabyte GA-MA890GPA-UD3H card for 26,222BTC + shipment
All new
Sorry for the english reply but my German is really bad
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Hi, where are you located?
I can ship from Italy a Sempron 145 + a Gigabyte motherboard GA-MA890GPA-UD3H for a total of 26,225BTC + Shipment.
Items new.
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A small town in central Italy is trying to go independent and mint its own money in protest at government austerity cuts.
He has started minting Filettino's own bank currency, the "Fiorito," with his photo on the back, which he says is already being used by the townsfolk.
Doesn't sound like he'd be interested in a currency he can't print or put his mug on. Is not the first time that a town try to mint is money, but ASAP the govern find that the new money works better than the old one put it out of law. I know that is difficult to stop the bitcoin system, but if a govern put it out of low that can stop all the shop in that country and in few month can be put outlaw in a lot of country. At the moment the diffusion is not capillar enough to took a similar risk IMHO. |
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*BUMP* Nessuno a cui piace il caffè qui? Ho modificato leggermente i prezzi visto il calo dei BTC negli ultimi giorni (i prezzi sono salvo dove diversamente indicato per 100 cialde): ESE 44mm (cialde in carta per varie macchine tra cui mokona e tazzona) miscela classica 2,28 BTC
ESE 44mm miscela Arabica 2,68 BTC
ESE 44mm decaffeinato 3,06BTC
ESE 44mm Illy 5,39BTC
Capsule Bidose Compatibile. Lavazza Espresso e Cappuccino 2,94BTC ( sono 50 bustine quindi 100 caffè)
200 Capsule comp.Lavazza/Kimbo/Polti della Mokarabia 5,16BTC (4 miscele a scelta: Arabica, Classica, Strong e Deck)
30 Capsule per Mokona e Tazzona MONDIAL CASA della Gimoka 0,85 (miscele a scelta fra Gran bar, Gran Festa, Decaffeinato, Tea Lemon, Tea alla Pesca, Orzo). Sono le capsule in plastica non compatibili con le versioni di macchine sucessive al 2010 che accettano solo capsule in alluminio.
Kit 100 bicchieri-palette-zucchero 0,565
Spese di spedizione 1,2BTCLe cialde senza marca indicata sono prodotte da una torrefazione di Trieste e marcate Tergeste. Tutte le cialde sono fresche (scadenza 12-18 mesi). |
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Very nice idea  You have a PM |
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Just requested 20 for a birthday gift |
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this could not be more clearly a scam. he even posted "Lulz"
come on now
It can really sound as scam, but I've to say that Ninja/Hollie orderd me 2 laser engraved cards and I still waiting for the money  , Stefanie also ordered 1 and payed quickly; the postal postal address is in Texas, while Ninja seems to live in Australia. Not that a 0,5BTC transaction is a big proof but it can be only a coincidence |
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The $30 price was completely irrational. It wasn't supported by any fundamentals and coincided with publication of positive news in Daily Reckoning and other media outlets. Some people believed bitcoin could sustain an exponential growth curve. We would be buying cars with one bitcoin by the end of 2011. Fortunately most people didn't buy into the madness.
If you talk of the past 30$ top reached yes, it was irrational. But in future is not a number so irrational: I don't say that we could reach that point in 6 months or 1 year but in a couple of years yes is possible to do or even double it. All what we need is more shops and services based on BTC (and for what I see there are new shops every week). 30$ is a 30Milion/year market -> 85.000$ day of BTC spent not a so big number to reach (yes I know I oversimplificate the calculation and probably we need 3-4 times that figure to sustain a 30$ value but are still numbers reachable) |
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49,9+9€ di spedizione contro 50+7€ come vedi costa meno quello che ti ho offerto io.... Alla fine sei partito da 30€ di alimentatore per arrivare a 90 e oltre... Comunque al momento non ne ho disponibili e i magazzini sono chiusi fino a lunedì. |
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l'alimentatore nn va bene... tra l'altro nuovo costa anche meno cmq come faccio a sapere quant'è il mio consumo totale?? prcoesore+ram+hd
Se non ci dici cos'hai non possiamo fare i conti Ad ogni modo solo RAM+Processore+HD li tieni su con un 350-400W. Strano invec che abbia trovato a meno l'alimentatore (tra l'altro è nuovo quello che ti ho offerto): a meno di 53€+S.S. su internet non l'ho mai visto |
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I've corrected the prices of the cards (really small change 0,01BTC but now fixed even if BTC drops) and shipment prices (I keep them as low as I can).
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E non dimenticare le commissioni di cambio che si mangiano il 2-4% come ridere ad ogni passaggio
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250-300MHs (dalla prossima settimana)
24h/24h
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