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1301  Bitcoin / Bitcoin Discussion / Re: Where were you and what were you doing when bitcoin took this huge $1,000 Dump. on: November 16, 2018, 06:37:52 PM
The fights of altcoin Cash may be the reason why the market is in the red, this is my opinion, of course this is not good for the future of crypto
......
Also watching BCH ABC destroy stupid CSW BCH SV. twitter is going to be fire over the next month

nah. the btc price is because minng pools are cough quality assurnce cough testing out next gen asics before releasing them for deliver in last week of december.

thus because swapping their old S9's for T15's they have a lower cost per BTC than the last 12 month support. thus able to sell for less while still in profit

..
as for craig wright drama.. thats just another altcoin. and just social drama.
funny part is on the SV chain(blockheight 556925) it is also monitoring the ABC chain.
if SV sees a block on ABC that SV dont like.

SV kills off the SV chain. grabs a COPY of ABC chain..
SV nodes then kill off the block it dont like. and then tries to build SV blocks on the SV nodes.

funny part though
ABC can just continue on as they are meaning ABC chain (blockheight 556952) carries on building 556953
and then SV ends up killing off SV new block to grab a copy of ABC. kill off that same "bad block" and then has to rebuild again
SV will just end up in a loop.


put simply if there was block 556952 that SV hated.
abc makes 556953 as normal
but sv:
keeps destroying its own chain
grabs ABC upto to 556952 and then has to build 556953 of transactions SV approves

abc makes 556954 as normal
but sv:
keeps destroying its own chain
grabs ABC upto to 556952 and then has to build 556953 of transactions SV approves(yet again)

abc makes 556955 as normal
but sv:
keeps destroying its own chain
grabs ABC upto to 556952 and then has to build 556953 of transactions SV approves (yet again)
anyone using SV with transactions in 556953 will find they will keep getting thir transaction as confirmed then unconfirmed


craig will just be stuck in a loop of orphaning his own chain and orphaning blocks above 556952(of his personal copy)
meanwhile ABC carries on and just ignores whatever craigs SV client does

no merchant. no exchange will ever want to run SV knowing the orphan drama and double spend drama of accepting SV
so craig is fighting a fight he wont win.
he will not get to re-org the ABC chain.. all he wil do is just keep killing off his own chain and his own copy


...
and all ABC has to do is create a block that Sv wont like. and then let SV just loop itself into orphan/double spend drama.. while ABC just carries on
1302  Bitcoin / Bitcoin Discussion / Re: Where were you and what were you doing when bitcoin took this huge $1,000 Dump. on: November 16, 2018, 05:44:26 PM
while others cry, panic
i was saying DISCOUNT DAY

say you bought some coin at $6500
now price is $5500
buy coins at discount,

now your break even is $6000k not $6500
so when prices go back to $6500.. your not breaking even. your PROFITING by $500 a coin
1303  Bitcoin / Bitcoin Discussion / Re: Bitcoin hashrate fell by 20% on: November 16, 2018, 03:09:26 PM
There is one thing I really don't understand:

How do you guys posting in this thread, take everything into account other than the main reason behind this? It is about bch civil war, what else it could be? They are recruiting hashpower, isn't that simple?

By the way, Faketoshi is loosing the war and it is good news, the crazy con man should have been kicked out much sooner.

they are not recuiting hashpower
the same time btc dropped 5exa.. bch only gained 1exa.(no correlation)
the extra 1exa of bch can be caused by them turning on asic boost for a 20% boost
the extra 1 exa could be them swapping 285.7k S9's for 142.85k T15's and using boost

but if you look at the stats and math it all out
its much easier to see
btc swapping rigs from old to new. = half as many rigs needed and still able to mine effectively with less miners, with or without boost can change how many rigs are needed to still win blocks with less rigs and although it appears as a 5exa drop. is not actually a 5exa drop.

because stats sites measure hash used per block divided by fixed 600 second measure...
not measure hash used per block divided by time of block (thus stats sites give wrong readings)
1304  Bitcoin / Bitcoin Discussion / Re: Bitcoin Power Consumption on: November 16, 2018, 12:01:57 PM
Power consumption of bitcoin mining keeps going up. And will continue to go up as bitcoin usage and price increases. This have harsh enviromental implications. Is there a way to reduce power consumption or are there plans to switch to a more eco-friendly way of mining bitcoin?

at 50exahash
it would need 10 trillion PC's CPU mining
it would need 333 billion GPU's mining
it would require only 3.5million S9 asics mining
it would require only 1.75m T15 asics mining(without boost)
it would require only 1.4m T15 asics mining (with boost)

so i think you will find if you done the math of electric needed per category above. that as the network gets stronger(higher hash) those involved are actually .. yep. in reality already making it more eco friendly to mine.
again imagine if we were CPU mining at 50exa vs asic mining. and ull see the point

a standard s9 antminer have a similar consumption to 1.0hp air conditioner. its actually pretty high demanding actually.

to add to this, as someone else said else where. think about the billions of cans of soda drunk each week that need to be refrigerated. all them refrigerators around the world running 24/7 just to keep a cans of pepsi's cool

yeah... bitcoin is very hard to mine because it has highest price in crypto and it requires more electricity to mine.

think of it more so that bitcoin has highest price in crypto because it requires more electric to mine and SECURE it by making it harder for others to try manipulating transactions
1305  Bitcoin / Bitcoin Discussion / Re: Are non-Segwit nodes, full nodes? on: November 15, 2018, 10:36:26 PM
More specifically, in Bitcoin, would the "51% minimum" not result in a contentious hard fork causing a chain-split?

nope thats project fear,
same as what a certain someone just done by thinking things all end up as a chain split(altcoin creation). and add more fear by saying its up to the minority to alter their altcoin code to stay away(replay protection).

truth be told is 51% is contentious. but its not always a chain split.
it can be where the minority just stall out and hang at a certain block height (2013 proved that an altcoin was not formed.. just 1 chain growing and other nodes stalled)
emphasis no 2 parallel chains growing..
in the case of something being active at low consensus

.. but going back to lets say a low threshold of 51% agreement. that criteria doesnt mean activate. it can mean you have X weeks to upgrade or have your node stalled out when it activates later.
it could also be. now it reached 51% the community has interest so let the diverse nodes code a version that includes it and see if we can get to 75%, then 95%. and only then activate so only 5% is stalled out. (again no parallel chains growing. just one chain growing and 5% nodes are stuck)

i do find it funny how project fear has no clue about a good consensus mechanism and is on a full tirade to only promote one 'brand or doom'

and yes. the majority that have accepted a upgrade can themselves implement a replay protection on the upgrade. without demanding the minority to have to re-code anything.
i too found it hilarious that a certain team refused to add replay protections in an upgrade they done. but wanted those that didnt change code who didnt want the upgrade. were told to change their code..

but thats just the comedy to be expected
1306  Bitcoin / Bitcoin Discussion / Re: Are non-Segwit nodes, full nodes? on: November 15, 2018, 10:06:11 PM
there is no real point to multiple code bases if and I repeat if the coin's specs are essentially identical.

actually there is
EG, if a road has a 30 mile an hour limit. should we all drive an identical car that has a 30mph limiter in it

or have different types of cars. that way if one brand of car ever had a recall due to bad brakes. it doesnt affct the entire transportation industry, and only affects one brand of car.

imagine if the only ever sugar free soda was pepsi max
     pepsi max de-carbonised,un-food colored, unflavoured is 'compatible' (pepsi branded water is allowed)
the only pants people could wear was blue Levi denim
     Levi denim high knee cut shorts with less pockets is 'compatible'

again staying on one network but being told there should only be one brand of codebase that is a "full node" that does all the tasks.. thats called tyranny.

the reference client should only be a reference to current ruleset code. which people can REFER to when making their own clients.
then the diverse clients all release bips and the community vet them and contribute/compromise until a single unified progressive upgrade can be majority agreed.
EG2015
65%8mb legacy
35% 1mb legacy
high percentile contributed and compromised to 2mb.. which should have been a release all diverse codebases done.
but foolishly a few leaders of the 35% crew backed out, said they wont code it. pretended they were not contributors and couldnt code it.. and instead 2 years later. they whammied in their own alternative while ignoring the 65% interest in more than 1mb legacy

which is where we have the wishy washy code thats not even 4mb true full utilisable limit. lots of multiple X and Y by 4 to fake some other numbers. and we still dont have double transaction counts with fee's averaging only a couple pennies

all because one group didnt want diverse codebases and community involvement. thy just wanted "compatible" sheep that had the wool trimmed off and covering their eyes
(dang it.. i tried not to rant)

....
EG imagine if in 2013 the majority wasnt core 0.7(berkely(locks)) with a few 0.8(leveldb(no locks))
but instead loads of other brands with no lock database

the consensus would have been that 0.7 is stalled so just go straight to using 0.8 and continue growing the chain without orphan
and just call 0.7 dead much sooner and without having to orphan off the a couple dozen blocks..

EG imagine 2018. if someone did do a DDos and everyone was running 0.14+.... do you rally want the entire network of nodes to keep going offline
or would you prefer to have diverse nods that continue while dvs patch something on one brand
1307  Bitcoin / Bitcoin Discussion / Re: Bitcoin hashrate fell by 20% on: November 15, 2018, 04:29:08 PM
Yes I also saw a discount in Bitcoin today, the giant crypto (Bitcoin)is now cheaper at $ 5300, a discount of around 20% would certainly be a great opportunity for Bitcoin to stock up

fixed that for you... its a better, healthier and less stressful mindset to have
(glass half full.. not half drunken)
1308  Bitcoin / Bitcoin Discussion / Re: Bitcoin hashrate fell by 20% on: November 15, 2018, 04:21:54 PM
I don't see that steep of a drop in mining power, but I do know where this drop and everything related to it came from. Hint: Satoshi (lol).

nah the hashrate drop of ~5exa .. but only 1exa gain on cash are not correlating numbers..it dont show where the other 4exa went

..
try not to just read some twitter account or reddit post of some social drama/meme. its best to use math and logic

also the price movements are not just next gen related but also VC 12month tranches contract expiry. (they finally are allowed to sell their hoards from their november 2017 buyups(12 month rise and fall is no coincidence))

..
but hey most will just fall for the social finger point drama of a dude that has not himself coded anything. but is just the PR face of an altcoin.

the only good thing i can say about blockstream is that adam back has stopped his wright-esq PR campaign of saying he (A.B) invented bitcoin due to "hashcash" algo.. i guess adam back seen the PR of wright and so adam back realised how stupid it looks to be a social PR guy but not contribute code to actually affect stuff

i do find it strange that when things happen to BTC. finger get pointed at things totally unrelated to btc.

"omg i lost profit".. social drama="it was a toothfairy who caused it because they are known to steal teeth" (facepalm)
1309  Bitcoin / Bitcoin Discussion / Re: Bitcoin hashrate fell by 20% on: November 15, 2018, 04:05:14 PM
Let's say bitmain related pools that have access to new gear had 50% of the hash rate.
Since the others continue their business as nothing happened, a drop of 6% would mean they have shut down 12% of their own capacity. Why?

2. by spinning up the hashrate they are just hurting themselves. much better to keep or drop it a little to make profit but not cause self harm

Dropping the hashrate means only slower blocks, less reward per day, almost same cost for maintenance and employees and rent for buldings...not smart.

no
EG imagine all asics swapped from S9 to T15
50 EXA =~3.5million S9 (3.5m @1.3kwh=4.55m kwh)
but only ~1.75million T15 (3.5m @1.6kwh=2.8m kwh)
so just maintaining hashrate saves alot of electric


also the thing about hashrate per block versus hashrate per second confuses people.
many site WRONGLY treat the block hashrate based on a 600second block math thus even if solved in 8 mins its treated as a 10min AVERAGE.

so if a pool can solve a block in 8 minutes because its hashrate is faster (asic boost) .. the math will show the block solved in x hash per 600 second average
where as reality is the block is solved in 8 minutes for the same hash. which means in reality x hash in 480seconds.
though reported as X in 600 seconds

in simple terms
old asic pools of 3.5mill asics take 50exahash to make a block in 10 minutes
new asic pools of 1.75mill asics take 50exahash to make a block in 8 minutes but displayed as 50exa (average of 10 minutes)

which is why to be a little more accurate. they then knock down their asics to be a more depiction to the bad math websites
by having 20% less asics again to be 10 min.. or hint hint. bring it down by only 15% to be 9min:30seconds so they on average are winning the competition. but are even more efficient using only 1.49m asics to atleast appear to be ontime.. but have 5% less hashrate. while having under half the asic count. and cheaper electric total bill

..
maybe worth instead of just hitting reply. hit the open excel button and do some math. it may surprise you when you add it all up yourself.
making more profit while not pushing hashrate up is possible.

...
like i said if break old even was above $6k and now you, using new asics can break even for less. theres no need to jump hashrate to 100exa. because your also hurting yourself later by jumping the hashrate

far easier to sell old gear (use those proceeds to pay electric)
far easier to sell new gear (sell one for double cost = 'give one, keep one' so that way no hardware cost to you)

you then also mine with both asics for "quality assurance" for a month. thus you profit from running THEIR gear aswell as your own. while they are stuck using old asics.. while they wait until their late december delivery of their new asic

then you sell the coin rewards knowing your making profit(even below $6k).
knowing as soon as the market price goes below $6k . your competitor is losing. while you still profit even without having to raise the hashrate.
1310  Bitcoin / Bitcoin Discussion / Re: Bitcoin hashrate fell by 20% on: November 15, 2018, 02:37:51 PM
So rather than
- increase instantly the hashrate while the others can't compete and solve blocks twice as fast and drive the profits of others down thus crippling their business
- you do B, leave your miners to rust

1.other pools dont have access to the new asics until last week of december. so those that do have the new asics for cough quality assurance purposes are making profit while other pools are losing
EG other pools still have a break even at $5800.. so yea there is no need to spin up the hashrate to b competitive

2. by spinning up the hashrate they are just hurting themselves. much better to keep or drop it a little to make profit but not cause self harm
EG if you had a 100m race. and usually you can do it in 10 seconds.
you dont do it in 5 seconds. or run 200m in 10 seconds... because next time your expected to do that. instead you do it in 9.5 seconds but with less strides needed. thus less energy wasted by you. you stil get first place by beating others by 5% but without the stress, cost and without shooting self in the foot by making the next round difficult for yourself

3. when selling asics to others you can MAKE PROFIT. EG for every asic sold to others. the seller literally gets a free asic. thus reducing the costs thus increasing the profit even without having to mine.

4. while still making profit even at a lower hashrate. and by bringing the market price down. will b the competitive advantage without shooting themselves in the foot by increasing hashrate
EG
if you know other pools break even is a $6k+ and your break even is $5k. then selling at profit to $5.3 means you still profit. other pools lose and they drop off.. all again without needing to raise the hashrate

5. thinking the only way to compete is raising the hashrate is a narrow minded and foolish business plan that only ends up costing you more.

6. plus you dont leave your old miners to rust. you sell the old gen for $450 as 'second hand' thus put more funds in your pocket to go towards electric and production cost of next gen
1311  Bitcoin / Bitcoin Discussion / Re: Bitcoin hashrate fell by 20% on: November 15, 2018, 02:00:56 PM
BS title, BS topic.

The difficulty is going down by 6.5%, there is no 20% drop.
Even the average for the last 504 blocks is at less than 8%, so nowhere near 20%.

pools moving to next gen asics.
which are more efficient so dont need as many.
costs to run them are cheaper so able to sell coin rewards for less.

also
some traders were VC and had a 12 month contract so buying in november 2017 meant cant sell until november 2018

both contributed to this event.
its that simple


Makes sense! When the production cost goes down, factories are able to sell the goods for cheaper in the market. Same thing is happening in bitcoin, is that what you suggest! However, what way out do you see from this current situation? Do you think the price will go up once the hashrate increases?

It makes 0 sense.
If you can make your products cheaper, do you plan on selling less?
If new and more efficient miners are coming online why is the hashrate dropping?
You were mining at 80j/Th now you're down at 57j/Th, why would you mine less?


because if you push it too much. EG turn off a 14thash and turn on a 28thash.. you instantly turn a 50exahash network into a 100exahash and simply shoot self in foot by making difficulty jump in the next round

instead what you do is realise you can:
firstly stay at 50exahash by using half as many new asics
also by using the boost take off a few other rigs..

but also able to then still solve blocks within the 10 minutes(while keeping difficulty from jumping). but with less costs needed overall
its the math difference between hashes per block and hashes per second that confuse people

..
as for the selling coins..
if before you were only breaking even with a slim 1-5% profit. you wont wont to sell. but if you are now making more profit then yea you would sell.
but like i said its not just ASICS its also VC contract/tranches that had a 12 month contract from last november.
1312  Bitcoin / Bitcoin Discussion / Re: Bitcoin hashrate fell by 20% on: November 15, 2018, 01:52:48 PM
You act like you know it all, if so, why didn't you short the market prior to all this? It's very easy talking after an event, because that's when the so called "experts" of Bitcointalk pop up ready to let the world know what happened. Why can't people not just admit that they don't know what happened, is it that difficult?

i dont know it all. i just know common sense. its obviously unrelated to some social drama of some other coin so mentioning another coin is just comedy drama

as for the reasons of this actual temporary price drama event. well its obvious. they have been talking about if for like 3 month. even i mentioned it ages ago that to avert such a decline in price due to profitable mining that the hashrate needs to be way above 60exa.
its just maths and logic. nothing special. no crystal balls needed

but still funny seeing the people finger point at altcoins as the reason
1313  Bitcoin / Bitcoin Discussion / Re: I've made this portrait of Hal Finney made of USD ripped bills on: November 15, 2018, 09:05:40 AM
impressive.
but its a shame that many people looking at your collection seem to prefer, admire and recognise someone not involved with bitcoin innovation (dorian)..

(i mean this just for comedy purposes, not critisism)
a few people i know seen the hal finney you made and said. 'what does pierce brosnon'(previous james bond)'have to do with bitcoin'.
now i said it, i bet a few people now cant unsee it lol
1314  Bitcoin / Bitcoin Discussion / Re: Just calm the f$%^ down, this is not the end of Bitcoin. on: November 15, 2018, 09:02:23 AM
this is not dark times. this is not the end. this is

DISCOUNT WEEK

to all those wishing and praying for cheaper coins.. this is it.
grab them..
you have waited patiently for 12 months for prices below $5800. and now its here. so grab it before things go back to the norm of the deflationary value rise
1315  Bitcoin / Bitcoin Discussion / Re: Just calm the f$%^ down, this is not the end of Bitcoin. on: November 15, 2018, 08:43:56 AM
the price and hashrate have nothing to do with social drama of ver or wright. they dont code. they are just drama

the cause is 2 fold
1. next gen asic switch over
2. VC tranche contracts of 12 month Hodl from last november buyup now selling

1316  Bitcoin / Bitcoin Discussion / Re: Bitcoin hashrate fell by 20% on: November 15, 2018, 08:40:27 AM
Bitcoin hashrate fell by 20%

are you sure?
checking the hashrate chart I do not see any new change that indicates a drop worthy of discussion here. there still is the same fluctuations of hashrate which is near the same medium hashrate around 50 EHS. these ups and downs don't mean anything or indicate miner shutting down ... you can see the chart below:
https://bitinfocharts.com/comparison/bitcoin-hashrate.html#3m

seems dulin.. just took the hashrate ATH and then the hashrate ATL for the last couple weeks (facepalm)
but going by the average
50-> 45  as there was a bit of a drop, but thats easily explained by new next gen asics. being cough quality assurance checked cough (run and earning coin) .. before delivery in late december
1317  Bitcoin / Bitcoin Discussion / Re: Bitcoin hashrate fell by 20% on: November 15, 2018, 08:15:46 AM
pools moving to next gen asics.
which are more efficient so dont need as many.
costs to run them are cheaper so able to sell coin rewards for less.

also
some traders were VC and had a 12 month contract so buying in november 2017 meant cant sell until november 2018

both contributed to this event.
its that simple
1318  Bitcoin / Bitcoin Discussion / Re: Craig Wright is trying to implode Bitcoin on: November 14, 2018, 11:32:44 PM
why do people look at his tweets. he isnt coding BTC network so not important. he is just a PR social drama face of distraction

recent events are more to do with people that bought at the november 2017 finally reached a 12 month hodl plan/contract

and also to do with asic farms *cough quality assurance cough* checking new asics
by turning off old asics and running new asics without needing as many asics and having a lower cost to run thus able to sell for less and still profit

still funny how people look toward wright as the reason.. (facplam him and anyone that thinks he can cause anything more than a social distraction drama)

want a tip about something more realistic to the cause of the hashrate and price drama
next gen asics are already made.
they are currently being cough quality assurance tested cough (meaning they are running them and spending the rewards)
delivery to customers wont be until final week of december. so pools will be turning off their old gen asics and replacing them with next gen(they already have in some facilities)

such a shame they broke the 12 month tested $5.8 support value line. especially only a couple days after a calender year of prices being above $5800

anyway back to the mining:
electric is never free. especially for asic farms.
yea the odd teenager/ out of work person is still living with parents. but the amount of mining without concerning the main bill payer wont be huge enough/earn enough coin to cause any price drama on the markets

so sticking with the mining farms/asic manufacturers, which do have costs:

imagining a scenario of ALL asics swapped in one day (14thash->28thash asics). would see a mining cost of
~$4.9k(min average) per btc at 50exa
~$3.9k(min average) per btc at 40exa

if a scenario of all asics were still last gen (14thash) would see a mining cost of
~$6.3k(min average) per btc at 50exa
~$5.1k(min average) per btc at 40exa

if hashrate goes back up to say over 61exa we will see costs go up above $6k for the next gen. and thus they would refuse to sell for less than $6k. so lets hope the new asics will push hashrate up after this temporary swap event
1319  Economy / Speculation / Re: Reason Why BTC will Dump to 2.5K$ on: November 14, 2018, 10:10:20 PM
next gen asics are already made.
they are currently being cough quality assurance tested cough (meaning they are running them and spending the rewards)
delivery to customers wont be until final week of december. so pools will be turning off their old gen asics and replacing them with next gen(they already have in some facilities)

such a shame they broke the 12 month tested $5.8 support value line. especially only a couple days after a calender year of prices being above $5800

anyway back to the mining:
electric is never free. especially for asic farms.
yea the odd teenager/ out of work person is still living with parents. but the amount of mining without concerning the main bill payer wont be huge enough/earn enough coin to cause any price drama on the markets

so sticking with the mining farms/asic manufacturers, which do have costs:

imagining a scenario of ALL asics swapped in one day (14thash->28thash asics). would see a mining cost of
~$4.9k(min average) per btc at 50exa
~$3.9k(min average) per btc at 40exa

if a scenario of all asics were still last gen (14thash) would see a mining cost of
~$6.3k(min average) per btc at 50exa
~$5.1k(min average) per btc at 40exa

so definetly no where near 2.5k(though i can understand the maths of that number if all rigs were electric free)

if hashrate goes back up to say over 61exa we will see costs go up above $6k for the next gen. and thus they would refuse to sell for less than $6k. so lets hope the new asics will push hashrate up after this temporary swap event
1320  Economy / Speculation / Re: Get ready for the bull market!!! on: November 14, 2018, 08:53:20 PM
seems like someone wanted to break the long tested $5800 support value line that achieved 12 months resistance
pretty much to the day.

guess this is the period where asic manufacturers are turning off the old miners and replacing them with just a few new gen asics to test them before delivery in late december.
and selling off coin as its now cheaper to mine with next gen, even at less hashrate

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