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725
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Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker
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on: April 16, 2013, 03:15:39 AM
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Is there some bad news I'm unaware of, that would make it rational to move down 30% in a day?
The price was moving up almost 30% in a day, even though there was no really "good news" to support it. This slip is the correction. Bitcoins remain overvalued IMHO. |
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727
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Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker
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on: April 16, 2013, 02:57:24 AM
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Am I reading this chart right that someone just sold over 9000 bitcoins?
Not sure if it was 9000, but it was a shitload  The only reason you dump that many coins at once is to drive the price down so you can re-buy at a lower price point. Someone with that many coins, isn't "panic selling". It will probably spike back up and the process continues. =) The other reason is that dumping the coins slowly would allow the price to go down, possibly costing more than it's worth. The big bidwalls are making panic selling easier. |
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731
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Other / Meta / Re: Merge subfora: Custom Hardware & Hardware
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on: April 16, 2013, 12:08:47 AM
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It's probably not time to do that yet, but it will be very soon. I'd guess that it's time to do the merge once someone is selling ASICs consistently.
Here are the first few threads in regular "Hardware". In maroon are the ASIC/FPGA threads. - BFL might be shipping soon?
- XFX 7970 Power Supply New
- Hashrate dropped on my 6950's - Wondering why
- 7950 High Temps New
- USB 3.0 connected external PCIe bridge
- Can someone review this rig?
- Can get LTC mining working on 6870, but not BTC/TRC/etc.
- community asic project
- Cloudhashing ASIC mining contracts,-UK LTD company
- Which Ati cards should I buy ?
- [Poll] What temperature do you keep your GPU?
- Did Avalon ship their asics today?
- 25 GH/s ASIC system for $2,000? Worth it? Am I missing something?
- Trays for miners (an open frame "case")
- 7850 safe temperature levels?
- Litecoin FPGA Production - Serious Inquiry
As you can no doubt see, this section is now so concentrated with ASIC threads anyways that merger is inevitable. |
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733
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Economy / Speculation / Re: Free trading ends soon on Mt. Gox
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on: April 15, 2013, 09:18:37 PM
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There are no fees for selling on Gox, only buying.
Wha? There are fees both ways. He likely means that depositing bitcoins (to sell) incurs no fee, but depositing fiat (to buy) does. |
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735
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Other / Meta / Merge subfora: Custom Hardware & Hardware
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on: April 15, 2013, 09:00:37 PM
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By now, the majority of hashpower has switched to ASIC miners. The GPUs (and CPUs) that were given free rein over the Hardware subforum are on a rapid track towards obsolescence. A cursory glance at the Hardware subforum reveals that many of the most popular threads are now about ASIC hardware.
The split was necessary when FPGA & ASIC miners controlled 1% of the hashrate and most of the developments were speculative. This time has passed now, and the subfora have become redundant. A merge would help reunite the ASIC topics with each other.
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736
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Bitcoin / Bitcoin Discussion / Re: The problem of reaching 21 million Bitcoins
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on: April 15, 2013, 03:54:38 AM
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ping times back to earth are gonna vary between 6 and 40 minutes, which should make for some interesting tcp connections.
space is big.
This is considering that we use today's technology. The technology of the future provides great compression and a gravitational messaging infrastructure which pulls the to endpoints together such that the space left to communicate is a mere meters in distance. This will allow for faster times than you see using the ancient fiber optics of today. I don't see where there is a problem. The real problem is that the Mars underground civilization uses a similar currency that is used across the Galaxy and we will have to convert it to Bitcoin. At that point we will need more decimal points to accommodate the large value of a single Bitcoin. so every should buy a single Bitcoin now and will to the future generations and only allow them to spend it once each Bitcoin exceeds 100 Trillion USD of current value. The problem: this allows for faster-than-light travel. Imagine a faster-than-light information tube. One could encode an arbitrary object at one end, send the stream over the information tube, and the object could be reconstructed at the other end. The object has travelled faster than light, which is impossible in Einstein's mechanics. Faster than light travel is a benefit, not a flaw. Einsteins theories broke the rules as set out by Newton. We changed our understanding rather than reject new ideas just because they did not fit old models. That is the way of scientific progress. The distance between Earth and Mars is probably around 100,000,000 million kilometers at worst times. Provided a Radio Signal travels at nearly or at the speed of light in vacuum, it will only take a few seconds to transmit data back and forth.
The speed of light is about 300,000,000 meters per second. To go 100,000,000 million kilometers would take more than a few seconds. But we must not rely on future changes in understanding until they occur. |
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737
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Bitcoin / Bitcoin Discussion / Re: Would it be fair to say Satoshi is a British Mathematician?
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on: April 15, 2013, 01:04:17 AM
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Let's assign to Satoshi a nationality. Of all nations, China is most populous. Therefore, it's most likely Satoshi is Chinese.
How about an occupation? The most common occupation is a retail salesperson. Satoshi should therefore be a retail salesperson.
I've got it, folks: Satoshi is a Chinese Retail Salesperson!
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738
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Bitcoin / Bitcoin Discussion / Re: The problem of reaching 21 million Bitcoins
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on: April 15, 2013, 12:42:48 AM
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ping times back to earth are gonna vary between 6 and 40 minutes, which should make for some interesting tcp connections.
space is big.
This is considering that we use today's technology. The technology of the future provides great compression and a gravitational messaging infrastructure which pulls the to endpoints together such that the space left to communicate is a mere meters in distance. This will allow for faster times than you see using the ancient fiber optics of today. I don't see where there is a problem. The real problem is that the Mars underground civilization uses a similar currency that is used across the Galaxy and we will have to convert it to Bitcoin. At that point we will need more decimal points to accommodate the large value of a single Bitcoin. so every should buy a single Bitcoin now and will to the future generations and only allow them to spend it once each Bitcoin exceeds 100 Trillion USD of current value. The problem: this allows for faster-than-light travel. Imagine a faster-than-light information tube. One could encode an arbitrary object at one end, send the stream over the information tube, and the object could be reconstructed at the other end. The object has travelled faster than light, which is impossible in Einstein's mechanics. |
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739
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Bitcoin / Bitcoin Discussion / Re: What actually prevents the substitution of old blocks?
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on: April 15, 2013, 12:40:18 AM
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Block 200001 contains a hash of block 200000. This verifies that the block 200000 has not been changed. A replacement for block 200000 would stop at that block, and not be a part of block 200001's chain.
The Bitcoin client will accept the "longest chain", which is the chain with the most work behind it. Because the replacement block's chain ends at 200000, it is shorter than the original block 200000's chain and it will be rejected.
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740
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Other / Meta / Re: Why is the Politics & Society section so anti-Semitic?
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on: April 14, 2013, 05:21:11 PM
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I think the issue is people's tendency to find a correlation, no matter how absurd, and cling with it. Yes, a disproportionate amount of bankers are Jewish. The following statements could also be said: - A disproportionate amount of bankers are male.
- A disproportionate amount of bankers are older people.
- A disproportionate amount of bankers are rich.
- A disproportionate amount of bankers are fair-skinned.
- A disproportionate amount of bankers have facial hair.
Note that it would be absurd to assert these correlations as causations. Blaming the "males", the "seniors", the "rich", the "white", etc. are just blaming scapegoats, and in this case scapegoats that are rarely blamed. Someone doing so would be laughed at. There is no difference between this and blaming the "Jews". As humans, we tend to blame a select group of people for our own problems. If we try to blame groups that are generally more powerful, we get laughed at. If we try to blame groups that are not often blamed (e.g. facial hair), we also get laughed at. As a result, we become racist or otherwise discriminatory. Luckily, there is a solution to this. Simply put, never make any generalizations with regards to people—they are rarely constructive. |
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