Bitmain Antminer S19j XP 21.5 J/TH 140 TH/s 3010 W Intel Bonanza Mine 2 (BMZ2) 26 J/TH 135 TH/s 3510 W(speculated)
still behind bitmain also intels version eerily looks too similar to bitmains design.
you would have thought intel would make something atleast a little aesthetically pleasing and different design to bitmain
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for jokes: "isnt he supermans pet dog" verbal conversation has the same pronunciation. whether written spelling is K or C.. dont grammar knitpick. its a JOKE!
other simplistic answers "value store without a bank account" just needs a public address, you create yourself. to be shown to a sender
"allows you to be a trader without the need of a portfolio manager/tradedesk/agent" many ways to trade without needing to sign up and have transactions logged by businesses
"remittance without the policy/limitations of western union/moneygram/transferwise/venmo/paypal" send to anyone direct, not via third party services
"offshore value store without the need to set up shell companies/foreign diplomacy" if value is not in a US bank, the US cant direct freeze it at source
"financial trust fund without the need of a lawyer" multisig can be set up by family/friends without others nvovled
"inheritance without the need of a will" multisig with locktimes
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Nato is like a paid membership. to benefit from its services(soldiers) members need to pay. and those that pay into the membership benefit from its services
ukraine is not part of nato and so is not paying for nato services. if nato started doing things out of the kindness of their heart and helped countries not in its membership, it will quickly escalate that the members that do pay realise that they too can get help without paying.
so nato will not help directly by going into ukraine to help ukraine, otherwise they wont be able to afford to keep it running in the future
ofcourse nato will help at the borders, but this is more so to defend the nato member countries that border ukraine. ofcourse if any russian plane or tank tries using/accessing those nato bordered countries, nato will stop them. but nato wont directly stop anything happening inside ukraine
even in war, its still business minds not moral minds at work. unions would rather protect the business contracts, rather than protect anyone at harm not part of the contract.
but with that said. if the UN were to step in, using human rights act as their reason to protect ukraine directly. this too can diminish the need of nato. because if countries can be protected by the UN, why pay for NATO. this is why there needs to be a fine business contract balance of who/when/how outsider countries help other countries.
the only way this will change is if all nato nations got together and said something like: "in this one exception we will aid a country not part of our membership, because they are a prospective future member" but, that is not happening yet.(and maybe it will never)
this however does not stop individual countries from getting involved personally. EG US jumping into middle eastern countries to defend the western property at risk by the middle east(well that was their excuse for the last few wars in the world)
this though could escalate(at world scale) a small skirmish, to become a full blown world war if too many countries get involved
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the bitfinex heist coins are in the possession of he authorities
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it is true that giving funds over to a custodian means you are not in control. because you are not a key holder to just 'spend' them back to yourself on a safer key. you have to request the custodian to spend them to you.
if they are obligated/or just decide to not authorise your request, you wont get coins back (scammer exchange with fake 'we been hacked' mottos to pretend they cant give coins because they lost coins) (court order to freeze account)
however it must also be noted that people need to have some self control about their own security. as some believe just having key control is the absolute sole need of security and nothing else needs to be done
by needing extra self control of security i mean, not advertising your real life association to the coins. examples of how coins were still taken even on peoples individual keys:
dread pirate roberts was found and cybercrimes teams accessed his files bitfinex thieves had private keys on a cloudstore file drug addict doped up father to then steal his wallet scammers/hackers get people to download trojans soon to be ex wife claims 50% custody of coins in divorce pickpocket snatches phone wallet out of pants face to face meetup goes bad, someone brought a knife SWAT smash front door in and find hardware wallet under pillow
its true that no one can brute force your value away from you from the network side. but people can brute force: your front door of your house your PC a couple of your ribs/cheekbones to get to your coins
so take control of your coins and also ensure people cant take control of you via threats
the trucker fundraiser is where there are some private key holders. but the courtcase was not instigated by government making a claim. it was actually by a few citizens of ottowa making a claim. whereby even without those plaintiffs having key access. they have put penalties onto the key holders that if the coins move the keyholders can be fined and/or put in prison.
so its not just the government you have to worry about. you should be cautious with what you tell your jealous/greedy neighbours too
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When the outbreak of war will affect the entire world economy not just bitcoin, the drop in bitcoin price is not a surprise to me. The panic selling of investors is understandable. War is a very bad thing, I hope this war will end soon, we will see the nearest market recovery.
the price has remained in the $37-$42k range for the last month. even before the conflict. infact its at $39k which is higher than in january and higher then days before the conflict last week (21st feb $37k.. first day of invasion 24th) it was at $38k on invasion day and now at $39k so dont panic. .. there are other factors at play changing the value dynamic of bitcoin. that are more affecting things than the stuff happening in the ukraine new asics are operating, the network hashrate is at ~190exa for the week instead of 200+exa the week before using last gen asics the mining cost and thus baseline value where cheapest region on earth to mine was $37.5k using new gen asics the mining cost and thus baseline value where cheapest region on earth to mine is $28.3k so because those getting small batches of just released next gen asics, some are making more profit and able to sell for less and still profit also the higher cost countries like america. which had a last gen cost of mine of $43k so they prefered to buy coin rather then mine when price was below their cost now can mine for $32.7k, so now they have switch positions from a buy to hoard, to a mine to sell position. .. as for market influence those actually in ukraine are not looking to sell their bitcoin to have Ukraine currency. they are actually trying to change their ukraine currency into other things like bitcoin, to store while they try to escape ukraine there are only a few 'minnows' that are selling up to get small amounts of ukraine funding to cover any immediate costs of living/escape
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I'm sorry, but maybe my family and I will die tomorrow if the world does nothing, so Ban Russia from SWIFT! Protect Ukrainian Sky! Send NATO to Ukraine! #BanRussiafromSwift #CloseTheSky #SendNatoToUkraine you can ban me if you think it's necessary!!!
Nato will not get involved inside the Ukraine because ukraine is not a member of nato many people think that NATO is some humanitarian group helping out any country in need. but they are not. they are a member service, helping out only those that are members. (just like a gym membership) if they started helping out those that are not members, then the existing members see no benefit in paying to be members if they can get the same support/service without paying to be a member. so nato has to not help out non-members too much. or it will see other countries not see the need of paying for membership. (yep they run it like a business) so nato will not go into ukraine and defend it. instead nato stand on the outside in neighbouring countries that are part of nato/international waters. and so nato will defend those neighbouring member countries and stop russia from using those countries as a pass through. nato are not giving free aid/defensive weapons to ukraine. ukraine have to buy them from nato.
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Russia is a dying country, whereas China is a high growth country. You just need to walk in St Petersburg, where everything is old and rotten. You won't see anything new, whereas in Shanghai, there are hundreds of shiny new skyscrappers, new electric buses, all the people have the latest smartphones, there are huge billboard screens everywhere, malls brighter than a Las Vegas casino...
hmm. seems some love the Fox news imagery St peterburg is like london circa 1995 architecture however moscow is like london circa now, it even has more population then london many people think this is how they see moscow though this is how others see moscow if your watching news reports where a reporter has deliberately stood in a ancient architectural area, maybe the other story they are telling is that they want viewers to see "russia" as ancient you know. like those charity aid TV adverts that show shanty towns in ethiopia. yet if they were to pan the camera around they would see the shanty towns border large city scapes. this is the ethiopia you will never see on an oxfam/foodaid charity advert .. much like how countryfree specifically tried to pick st petersburg, rather than moscow for comparison, to make it seem like everything in russia is like st petersburg im not for russia or asia, but i atleast have an open mind to look beyond the propaganda
as for picking an outlet for international funds look into the BIS and their M-bridge. linking russian and chinese CBDC the BIS is like the brics equivalent to the amero IMF
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solutions: 1) Make CPU Mining the only way to produce BTC. So point 3 is obselet, you could mine as running the computer and it gets more decentralised since its hardly possible to make a mining farm
bitcoin is just that solution you ask of. .. your just 12 years behind how your solution plays out EG within a fortnight a person has 2 computer. then a fortnight later 4 computers. then 8 then 16 and all of a sudden he has a whole garage of computers then needs to set up an industrial warehouse of computers. then someone smart comes along and invents a special computer that does the job of 100 computer for the cost of 1 computer then that evolves into 1000pc rating for cost of 1, then 10,000rating for cost of 1.. and so on and so on in your narrow view of "CPU only" do you realise that a CPU can only mine at like 10mhash. meaning if we had say 100mill CPU mining at 400w each 40,000,000kwh =40GW/h = 350.4TWH/y yep just 100million people mining around the world with 1 pc each would use 8.75x power consumption than the current network =11.429m to be on equal power consumption to now but here is the thing because hashes are based on a lower difficulty in your CPU utopia. them 100mill at 10mhash each =1petahash meaning if someone was quietly making an asic in private for 12 years and enhanced it to being 110thash .. they only need 10 asics to over run the 100m users or if we go with the 11.429mill users with 1 PC each. that smart guy secretly developing asics for 12 years only need 1-2 asics to overwhelm the network
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EU Parliament just avoided another self inflicted tragedy, delaying a controversial vote on Ban of POW cryptos.
this Mica thing was not to be implemented until 2025. so its not a delay. its just a 'we dont need to decide yet' they have until late 2024 to implement it. and always had until late 2024 to implement it. The vote on this amendment was due to happen shortly. Of course reversing a legislation before enacting it is simpler that doing that later. But not reverse a legislation, is even simpler. i meant that the mica has been "in progress" since 2019. with a date of actual implementation in 2025. meaning this announcement is not causing any actual delay to the 2025 time table. and if they just keep announcing 'no decision' for the next 2 years, it changes nothing to the schedule plan. EG if the implementation was for feb2023.. well. then they would have needed to adjust the implementation date to allow a years grace before it becomes active after a later vote. but because they have until 2025 anyway. they can reconsider many times until 2024 there may be another opportunity to vote in april2022. but that too can be reconsidered. point being they can keep it 'in progress' for 2 years and not be deemed as 'stalling'/delaying we can all hope they remove certain parts and vote it in, in april2022 without the bans..so we can be at ease of expectation of 2025 or they can keep it up in the air like a smoggy cloud for 2 years keeping the 'possibility' of a ban existing
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The energy consumption has grown because the reward has grown
This is a very good point. It's also worth mentioning the halvings; meaning not only are ASIC improvements going to hit a certain performance wall, also the rewards will get lower, pushing down the amount of miners running. So effectively, the power consumption will always be bound to price/coin and coins/block. but it wont push down the number of miners running. because there are many factors at play to keep them interested EG if there was a law that made it so a location/premises limit was 10gwh a asic single farm of 20GW will just set up 2 locations of 10GW to stay within the law its not that miners give up when hitting their location limit. its that they set up alot more locations. thus decentralising the geo-laws that try to limit miners also the propaganda of the reward halving.. lets handle that EG (describing one propaganda worse case view) if bitcoin transactions were stuck to only doing say 4000tx/block and each tx was 250bytes at 10sat a byte for the next 15 years at total of 0.1btc a block in fee (1mb tx utility(witness scalefactor cludge)) 2024 Reward 3.125 fee 0.1 = 3.225 2028 Reward 1.5625 fee 0.1 = 1.6625 2032 Reward 0.78125 fee 0.1 = 0.88125 2036 Reward 0.390625 fee 0.1 = 0.490625 yea your think oh no. miners will stop miningBUT imagine if bitcoin transactions were NOT stuck to 4000tx/block at 10sat a byte for the next 15 years 2024 Reward 3.125 fee 0.2 = 3.325 (8000tx at 10sat/byte (2mb actual tx utility)) 2028 Reward 1.5625 fee 0.5 = 1.9625(16000tx at 10sat/byte (4mb actual tx utility)) 2032 Reward 0.78125 fee 1.2 = 1.98125(48000tx at 10sat/byte (12mb actual tx utility)) 2036 Reward 0.390625 fee 1.6 = 1.990625(64000tx at 10sat/byte (16mb actual tx utility)) as you can see the amount of coin available per block to pay miners can still go up(via fee's) and this does not need people to "pay more" individually. which would shy away alot of people from using it. instead it would be more people, collectively pay also factor in a variable of if bitcoin prices were to go up by 2x and tx count was to 2x now reward 6.25 fee 0.1 = 6.35= $254k (btc=$40k) 2024 Reward 3.125 fee 0.2 = 3.325= $266k (btc=$80k) 2028 Reward 1.5625 fee 0.4 = 1.9625= $314k (btc=$160k) 2032 Reward 0.78125 fee 0.8 = 1.58125= $506k (btc=$320k) 2036 Reward 0.390625 fee 1.6 = 1.990625= $1274k (btc=$640k) as you can see there are alot more variables that can keep miners interested. not just fee's but also the bitcoin price. aswell as how even if some technical limit stops how small an asic chip can get vs watts/thash people can still just multiply the number of physical mining rigs / locations or if there was a location limit to power. more people can mine in more locations for a slice of the $1.174m compared to a slice of a $254k
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EU Parliament just avoided another self inflicted tragedy, delaying a controversial vote on Ban of POW cryptos.
this Mica thing was not to be implemented until 2025. so its not a delay. its just a 'we dont need to decide yet' they have until late 2024 to implement it. and always had until late 2024 to implement it. meaning this stuff will keep popping up now and again until 2024 without it causing any 'delays' that said. i believe that the analytics sites that hyper inflated the TWH usage as 200THW and 58.6% renewable(actual numbers more like 40TWH and 75%+), and they done so. so that next year they can redo the numbers and show a drop down to say 190TWH, then in 2024 a further drop to 180TWH while increasing the renewable to 65% 75% to pretend they physically helped make bitcoin greener. where its actually just a number shuffle on paper to later appease any environmental concerns that they first advertised as a bad disaster. its like shouting out that a orange is a acidic fruit that can damage health (we know its actually a health fruit from the start) and then later pretend they done something to an orange to make it a health fruit, to then release a report of its health benefits. pretending they triggered a revolution in fruit. where reality is the fruit remained a fruit and all that changed was the report truth is bitcoin is not as bad as the analytics chosen to advertise.
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We're not talking about the protocol.. This topic is regarding an ethical problem with 'Lightning Labs' (a company) control of the protocol
fixed that for you, you forgot to include what their [lack of] ethics is concerned with .. seems someone still has their eyes closed again, and living the dream utopia ill remind him what is at risk.. and it is not a companies social reputation. but exploitation of the protocol I'm glad people are drawing attention to this. Code can be as much about ethos as it is about function. It does raise serious concerns if companies are trying to exploit the very environment that allows them to operate in the first place. Talk about biting the hand that feeds. I know participants in this community will fight tooth and nail to keep open-source as the only viable default. It's a fundamental tenet.
they're not fighting to report a company to some ethics board about some social drama(as much as doomad loves only social drama topics). they are fighting to stop the protocol from being exploited more than it has, more then some would like but hey, he doesnt want people talking about the exploits.. so shh children go back to sleep. he doesnt want people talking about the risks to the protocol. so shh, dont say a word, he needs to sleep. if people want to use a network that does allow people to have channels and balance and able to spend/receive that balance when that said balance is not even pegged/locked to any real btc confirmed transaction(using certain implementations, but becoming more universal). then stay asleep and dont worry. else, for those that do want to be aware of exploits. keep looking out for them. draw attention to them, dont let silly people try to tell you to not talk about protocol risks just so they can discuss social drama of personalities
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SWIFT is used for major settlements and transactions between institutions across the globe. Any step to cutoff Russia from SWIFT would mean that none of their companies and people can pay for anything beyond their borders.
businesses never pay for goods the same day. they do invoices and credit lines. if a business cant pay its amount today, they simply find another option tomorrow. such as the chinese CIPS or their CBDC via m-bridge
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in other news. US and EU are not going to trigger the nuclear SWIFT option. as it would make russia more partnered to china and less reliant on EU/US the US/EU only works if the US/EU can tie in their enemies into US/EU terms and conditions. but if russia moves over to use china's system, away from the US/EU, then the US/EU can no longer do things.
EG just turning off swift might make russians touring in america no longer to spend funds in america. but russians on tour, can simply move their russian funds to a chinese system and then get a chinese card delivered to their american hotel and continue spending russian funds in america
meanwhile the US has less power /threat over russia because now russia is not reliant on the russia-US link the US/EU fear pushing the issue to make russia be more reliant on china and less subservient to US/EU
russia has been involved in de-dolarisation for a while moving from a 90% stronghold grasp by dollar in 2015 to a 45% in 2020 this control of russia would drop significantly if SWIFT was switched off.
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and now people are suddenly opening their eyes. took them a while
exploits available in lightning(mentioning just a few of many): open channels with no funding locked (turbo channels) 'triangular liquidity reorgs', to put certain channels in liquidity favour while emptying out other users possible routes the flaw of hop-route liquidity structure, pushing users into hub and spoke model (bank2.0) bootstrapped 'network map' and default public allowing chainanalysis and other surveillance methods
ever wonder why the main influencers have been pushing for years to tell the community that blockchains are broke. cant work. not useful, just to get users to flock over to altnets of no blockchain security.
as for the links to the WEF. thats just a side show. look more into the hyperledger(bank, institutions and CBDC) stuff, thats where it gets real interesting
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topic creator must know by now his numbers are off by alot having 200TWH usage estimate means in 2021 the hashrate must have been at a constant 229exahash for the whole a year, and all of the asics mining it were all the s9 at 14thash for 1.4kw/h sorry but the numbers used in the guestimate are far far far off. which has lead the topic creator to then go full exponential rather than actually make better judgements for instance if he bothered to use each gen asic at each year where majority are presumed running the network he might have seen something more like this instead of the inflated fudged numbers from a website that has many social/political reasons to inflate number and extrapolate from that, the curves of scale to make predictions of better multiples for future years. he might have a better idea of the future. (hint: its not 13x or 6x(1300% 600%)) for instance the 2009-2011-2012-2013 shows high multiplication growth. then it calms down. the hashrate difference between 2013-2015 and 2015-2017 and 2017-2019 and 2019-2021 shows the multiplication declines per step meaning its an S curve(in a linear view) and an r curve(in log view)... not an exponential curve to infinity
what he needs to realise. is even if there was a electricity cap of say 1% of world usage this does not become a security risk. because ... guess what it would cost a malicious person to have (51%+ of that 1%) about 138TWH+ to be malicious, just to try to do empty blocks or re-orgs to double spend world power 27000 at 1% is 270TWH and 51% is 137.7TWHwhere by lets say some american entity was to be malicious. they would need to take up more then 1% of americans full capacity. or over 3.35x of america's allowed allotment for all bitcoin industry america full capacity is 4100TWH so 1% is 41 and 3.35x is 137.35so basing on an S curve where power right now is more like 40TWH not 200TWH at a yearly power usage of (1.07x)7% would still not be 200THW in 2037
yet by 2037 280million US cars will need to be EV rather then fossil fuelled and at a 2500KWH per car(8000miles driving a year) 700TWH to electrify all cars in 15 years making cars the higher electric demand compared to bitcoin so are cars going to a deadend?
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the take away from this is to know that allotment of coins can be censored by s.w.a.t teams knocking down suspects doors and arresting them, by the fbi and cybercrimes from accessing peoples cloud storage/emails, by courts making court orders to individuals and businesses by SEC/fincen using regulation to stop regulated businesses.
if you are holding coin meant for other people. PAY them ASAP, in a few confirms time, no silly excuses about things that can take days/weeks.. settle up and absolve self of any responsibility.
and so, its up to people to up their game in regards to their own personal security and anonymity. bitcoin can look after itself but bitcoin does not look after the keyholders in their hand, foot and mouth movements. the point of failure is the humans hand foot and mouth movements
dont go announcing yourself publicly that you have the coins and waste days explaining how you want to move them around before paying out. just pay out. avoid the risks of others finding you and stopping you(the human) before you get to pay out.
yes you can use bitcoin features like multisig to spread the risk EG a 7 of 10 where by if your arrested and they find out about 1 or 2 others involved the coins can still be distributed. but if you are mentioning all 10 names, you have just wasted any chance.
bitcoin addresses do not announce peoples names. but people can announce bitcoin addresses. people need to take more responsibilities for their actions or absolve their responsibility by paying out and no longer having control of the coins
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Does his opinion about Bitcoin matter anyway? Whether he keeps making negative opinions about cryptos or "changing" his stance about Bitcoin. I don't think it does matter. The long term success of Bitcoin can't be affected by opinions of a few old school folks, so this shouldn't even make news at all.
Just like if Elon Musk tried to tweet positively or negatively about Bitcoin right now, do you think markets would react like it was in the past? I doubt.
at this moment. buffet is not much of an effect. because buffets effect is on traders that buy stocks and shares. and because there is not much of a truly viable bitcoin ETF industry available, those traders cant really put much investment into bitcoin anyway, because there is no regulated/insured investment trust for pension portfolio managers to buy into however elon as a private rich citizen talking about personal investments. speaks to many other rich people who are looking to follow elons path to riches. so those types of people can be affected. (though small in numbers, large in volume) but luckily majority of them are not easily swayed by a tweet most of them monitor other richguys SEC filings of investments. long before it hits the public twitter feeds. they know when someone is shouting buy X on twitter.. its because the shouter has already bought along time before and is looking for a price pump so the shouter can exit/sell. or if twitter feeds are saying "dont buy" its because they shouter doesnt want the competition. because they want cheap coins to remain so they can hoard up more before the competition jumps in so the majority of smart people just dont listen to those cries on media platforms, as its too late to buy in when someone is publicly shouting to buy. (after all if you found a cave of gold just siting there easy to pick.. would you tell others about it before you were able to grab as much as you could cheap.. ofcourse you wouldnt tell others early on. because then you are causing competition for yourself) but some smart people would be watching if you were buying up some land near a known gold vein, and then follow you by buying nearby land too
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