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I have a friend with a Casascius coin (series 2, 2012) that he uses for cold storage, and it now holds several bitcoins. What does this do to it's value (beyond the value of the bitcoins that it holds)? He is considering breaking it open because of the additional value of the BCH, but maybe someone would pay more than it's redemption value.
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There are lots of possible reasons:
1. Coincidence
2. Confirmation bias
3. Survivor bias.
4. Misinterpretation
5. Over-generalization.
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It's not very convincing. Thereis no reason why the price of a technology would follow Moore's Law.
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Wouldn't getting around the exile be as simple as switching to a different bit?
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Basically, this ground-breaking earth-shattering invention consists of including a refund address in a transaction.
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I want to buy graphics cards
I was careful about the type I bought
These are four kinds
Please what is the best:
1/- ASUS GEFORCE GTX 1070 ROG STRIX-GTX107
2/-ASUS GEFORCE GTX 1070 DUAL-GTX1070-O8G
3/-ASUS GEFORCE GTX 1070 TURBO GTX1070 8G
4/-MSI GEFORCE GTX 1070 ARMOR 8G OC
Note :There is a difference in price
But I do not care about the price I want the best
This is a bitcoin forum, so let's be clear. You can no longer mine bitcoins with a graphics card. However, you can mine other coins and use them to buy bitcoins. |
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Wow, just wow. This could be huge.
Or it could be a huge scam. It's an ICO. They are looking for investors. What more do you need? |
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The company initially plans to locate mining computers ... in individual Russian households ...
That part of the plan will fail. The failure of 21.co proved that it won't work. |
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Just installed my first wallet and wanted to test, so I bought £5 worth of BTC from Coinbase, they charged £5.99, I then sent the max amount to my Electrum wallet, amount sent from Coinbase 0.00202070, my wallet received 0.00171727, so I paid £5.99 and have £4.29 in BTC? sound right?
Keep in mind that you have 0.00171727 BTC and its value in £ will vary. |
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The issue is push vs. pull. Bitcoin is a "push" system where only the holder can spend their bitcoins. The current banking system is a "pull" system where anybody can pull money out of your bank account just by asking for it.
The design of Bitcoin prevents it from being a pull system, but it is easy to build a pull system on top of Bitcoin, and it already exists in limited form at Coinbase.
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So ...
Miners that are mining are considered "malicious" and miners that are not are considered "honest". I'm thrilled to be a "honest" miner as I have yet to mine anything.
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I've dug down to the top 2,000 BTC addresses and have found just a few that were obvious early investors that are still active.
An address is not the same as a person. |
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Also, If I buy from any random exchange that doesn't support anonymous payment i.e. require ID etc what are the chances that they will know what I am doing with that BTC? Will there be a track record?
For eg I buy x amount of btc via coinmama to "54gfgf5g4..." this address and I use that address to start buying other altcoins on other platform, will there be a link/track record that will eventually lead to my coinmama account? Am I being paranoid lol :p
Anonymity is tricky because all Bitcoin transactions are permanently stored in a public ledger. Anonymity relies solely on the difficulty of associating addresses with people. |
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Well I know exactly where you are coming from because I recently had an episode where I was looking up difficulty for someone else on bitcoinwisdom and I thought that it was strange that they have old hardware on there and they haven't updated the site but it still works and although I did mining a long time ago with a gpu I have never bought an asic though that wasn't a problem because I could still mine altcoins on multibit but I ended up with a lot of worthless altcoins and you couldn't withdraw them unless you had some minimum amount be that meant mining that altcoin for a long time even though it wasn't worth anything so I basically stopped doing that and it was ok because I wasn't earning anything anyway and it was like I had a second job but I wasn't getting paid and my machine was on all the time and it was heating up my apartment and that is bad in the summer time because it is already hot and I don't have air conditioning but I do have ceiling fans in the kitchen next to where I set up my computer and now that I live in a new place I have air conditioning buy the computer still heats up the room even though I have a ceiling fan and I'm not even mining I'm just playing wow but I'm on the third floor and it gets really hot in the summer time up there especially because sun shines through the windows in the afternoon although I got this big piece fo styrofoam that I put in between the shades and the window to block the heat coming in and that works pretty well though my girlfriend doesn't really like it and it is kind of a hack that would be better if I did something like put a reflective tint on the window
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By my calculations, he earned around $0.45 worth of bitcoins and it cost the city $18 in electricity.
How do you know how much hashpower he had? You're probably right anyway, whatever he had earned it was a complete waste, even with a decent graphics card onboard. I'd fire his sorry ass for using company resources for a private matter. It's just like a truck driver that delivers stuff for a company during the day and at night moves stuff for friends and family, but the company has to fill the tank anyway. According to the article he was mining with a PC and I was assuming a generous 500 MH/s. |
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By my calculations, he earned around $0.45 worth of bitcoins and it cost the city $18 in electricity.
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See ... that's what I thought, in order to steel from a wallet you'd need both the private and the matching public key ... I mean, the chances alone of guessing a private key are slim, but the chances of also guessing the matching public key is about as close to Zero as you can get.
But that website's FAQs seems to be saying that if you know the private key, the public address can be generated from the private key. Is that BS?
A bitcoin address (frequently and mistakenly referred to as a "public key") is derived from a private key. Actually, it works like this: The bitcoin address is derived from the public key, which is derived from the private key. |
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I think Vladimir mined much more bitcoins in USD terms than $611 penalty. This is a rather weak punishment if they did not confiscate all gained BTC in favor of Department of Education.
It is doubtful that he mined $611 in BTC. A standard PC at that time had a hash rate less than 500 MH/s and the difficulty was about 5006860589, which means it could earn about 0.00005 BTC/day. He mined for 12 hours per day for 30 days. A bitcoin was worth less than $600 then. So, he earned 0.00005 x 30 / 2 x $600 = $0.45 BTW, this also demonstrates how mining was not always profitable, even in the "early" days when the difficulty was much lower. A PC running at full capacity might draw 500W. At $0.10 / kWh, that would be $0.05 / hour in electricity cost. 30 days for 12 hours per day would cost $18. He spend $18 of the city's money to earn $0.45 worth of BTC. |
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