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21's plan, as stated, is pure bullshit. The only question is whether they know it or not.
Let's do an order-of-magnitude calculation… An article from Life Hacker reports that it costs about $0.50 to keep your phone charged-up for a year:  Now, my phone gets pretty warm when it's charging so the new mining chip can't draw that much more power. But then again, a lot of times my phone is plugged in and already fully charged, and so the mining chip might as well be running. So let's say that 21 Inc. can boost the yearly energy consumption of the typical smart phone from $0.50 to $3.00 before people start to complain about "hot phones." $2.50 goes to mining bitcoins… We'll also make the assumption that the cost to mine the bitcoins is exactly equal to the market value of the mined coins. In reality, the first coins will probably be cheaper to mine, becoming progressively more expensive to mine as the network hash rate grows. But for our order-of-magnitude calculation, we'll assume that $1 of BTC cost $1 of electricity to produce. At the current market value of ~$250 / BTC, this means that each phone will produce approximately -> 0.01 BTC per year, or -> 1,000,000 satoshis per year, or -> 83,000 satoshis per month, or -> 2,700 satoshis per day For comparison purposes, note that the current dust limit is 540 satoshis. This means that the amount of bitcoins generated by the phones is not insignificant (when compared to the dust limit) over time periods measured in days, weeks or months. …Let's go further… The same Life Hacker article claims that: Global smartphone shipments (which includes people upgrading to newer phones) will reach 567 million units [in 2012] alone.
Let's be ambitious and assume that eventually 21 Inc. chips will be included with 10% of the new smart phone shipped (~57 million phones). The total bitcoins produced by these phones would then be 57,000,000 x 0.01 BTC / year = 570,000 BTC / year Or about 1560 BTC per day. Since there's presently ~3600 BTC mined per day, these 57 million smartphones would contribute ~43% of the network hash rate. If 75% of these mining rewards flow back to 21 Inc and its partners, that works out to 0.75 x 57,000,000 x $2.50 / year ~= $107,000,000 per year This means that the expected revenue is not insignificant. interesting analysis. i'm amused by the guys here presuming that the 21 guys have not made a similar analysis. in fact, i'm sure they've made a very extensive marketing and technical analysis. Balaji and company are no slouches. they are in a different category from your normal, shoestring startup with minimal capital. Balaji is an established VC as are his cohorts. he mentions this: "towards that end, our team of PhDs in EE from MIT, Stanford, and CMU has built not just a chip, but a full technology stack around the chip — including reference devices, datasheets, a cloud backend, and software protocols. And we have already engaged with a wide variety of early access partners across the industry, from small startups to multibillion dollar hardware companies."similarly, the list of investors includes alot of smart, analytical, successful people and companies. they surely didn't just throw their money at this w/o any research. |
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TPTB, you and your handlers have 20 min to reverse this or all hell is gonna break loose:  looks like they're not gonna make it. poor boys. we have confirmation of the non-confirmation. with time, this should start dragging down the rest of the stock mkt. it won't be a straight line and things will get quite volatile from here so watch out. |
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TPTB, you and your handlers have 20 min to reverse this or all hell is gonna break loose: |
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I am hyper pissed off at you guys that you do not care that the world will be turned into a 1984 in your lifetime.
The Bitcoin community in general and people who frequent this thread in particular seem to be overwhelmingly wary of centralizing tendencies in government and possible 1984 scenarios. Just because many of us here are not convinced by your arguments about Bitcoin being a TPTB-engineered honeypot (or we might be too stupid to realize, as you might interpret it), doesn't mean we are cheering for a reptilian illuminati NWO clusterfuck, quite the opposite. I am very aware that I have little to no technical knowledge to offer in this space. That is why I limit my activity to the one beneficial service I can provide: pointing out, that we are all allies in the intellectual fight against centralized one world government and in order to succeed, we need to leave our egos at the door, lest we just end up mimicking the struggle for becoming top-dog, alpha-males, claiming control over what people should do and think, which makes up the current structure of TPTB. We need discord for the decentralized agenda, so let's be friendly about it, shall we. Discord can be a lot of fun. sidhujag & Pruden, you are going to get f*cked. get out now. this one doesn't look like its coming back:  I have been following this graph you keep posting for a while now and I am really interested to see what (if anything) happens, once it breaks down below the support that is indicated. I would actually appreciate some explanation as to why this particular chart is so important, because to be honest I don't understand its significance - I just like the pattern you have spotted  Keep up the good work. Dow Theory is a particular form of technical analysis based on a presumed linkage btwn 2 well known and followed indices, the Dow Industrials and the Dow Transports. not everyone agrees that it is useful, as in all techniques, but i personally use it along with others. i think it is important since it is so well known and followed. if the Transports aren't following a rally in the Industrials that shows that there is a non-confirmation or divergence warning of underlying, underappreciated problems in the real economy. can't have true industrial production if the transportation companies aren't moving the resources. it also fits nicely if you believe that there is a PPT that manipulates the small set of companies that comprise the Dow Industrials upwards on a regular basis w/o having to pump money into all stocks across the board. lotsa ppl focus on the Dow Industrials. i think this is true. everyone i know, from taxi cab drivers, to sophisticated money managers follow the Industrials on their phones for signs of trouble in the economy. yeah, the SPX would probably be a better indicator but like i said, manipulators should theoretically manipulate the easiest manipulable indices possible and that would be the Industrials. anyways here is more info: https://en.wikipedia.org/wiki/Dow_theory |
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as i said, it was working perfectly fine on 32 bit right up to now. the --satoshi-datadir doesn't alter the failure.
You got online and fully sync'ed with 0.93 on a 32 bit OS? no, i had to sync up the BC separately with bitcoind with this new Ubuntu 14.04. as i said, i had 12.04, 32 bit running smoothly with 0.93.1 prior. |
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32 bit, Armory 0.93.1
Yeah, no... wait, 0.93.1 does run on Ubuntu 32 bit. was working with 12.04, 32 bit... The issue isn't running, it's the addressing space limitation of 32 bit operating systems. You are wasting your time trying to get 0.93.x setup on your system, it will never pass the DB build stage. If you insist on running Armory online on a 32bit OS, build 0.94 alpha on the ffreeze branch, although it's unstable currently. Also your issue is most likely related to auto path discovery. Force the blockchain dir with --satoshi-datadir. as i said, it was working perfectly fine on 32 bit right up to now. the --satoshi-datadir doesn't alter the failure. |
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did i say that Bitcoin really should want to go after this market? this is the Big Kahuna: It will mark another dark day for an industry trying to put past sins behind it and brings the total in penalties some big banks will pay for their traders allegedly manipulating the $5-trillion-a-day foreign exchange market to about $10 billion.
U.S. banks JPMorgan and Citigroup and Britain's Barclays and Royal Bank of Scotland are expected to plead guilty to criminal charges with the U.S. Department of Justice related to forex manipulation, people familiar with the matter said.
It would be unprecedented for the parent companies or main banking arms of so many major banks to plead guilty to criminal charges in a coordinated action. JPMorgan and Citigroup would be the first major U.S. banks to plead guilty to criminal charges in decades.
Swiss bank UBS is expected to avoid a criminal charge after getting immunity for alerting authorities to a possible problem. But it faces a criminal charge over the rigging of benchmark (Libor) interest rates, two people familiar with the matter said.http://uk.businessinsider.com/r-five-big-banks-face-criminal-charges-and-5-billion-bill-over-fx-rigging-2015-5?r=USgame theory works. UBS caught in the Prisoner's Dilemma. |
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i am stupid
hey TPTB, you need to ask your handlers to increase your pay by $235/13 or 18x to compensate you for the lost income since you showed up here in 2013. or, a one time bonus to bring you up to where you need to be for your lost opportunity costs. |
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bullshit
yeah, like Samsung, who stands to install maybe a billion new smartphones with this new model, is going to just give up all future profits so that a NWO can tank the worldwide economy and take us down into a new Great Depression. sounds legit. |
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the only financial plan i've heard of is the 25/75% split btwn the consumer and 21, so the consumer is going to get spending coin. and that would be business savvy for the companies b/c that allows consumers to purchase other services and features. yes, the mining and hardware wallet will be on autopilot and already setup which makes it brain dead easy
Meaning dumb users, who don't vote with their feet on pool centralization, meaning the mining is controlled by cartels and oligarchs as I stated. right. bringing on over a billion new miners is somehow going to be centralizing. it won't matter if they're mining back to the device makers b/c there will be hundreds (?) of them either running their own pools (only takes a server) or farming it out to other pools, the # of which will proliferate to take up the new business resulting in decentralization. I am sorry that your dismal logic skills demand that I be redundant. for even guys like you to use so you won't feel so bad for having not bought @ $13.
I already told you what I am going to do to you and your NWO coin. I am not posturing. I am making a guarantee. it's threats like this that convince me you are either a gvt or bank troll. your insistence on an extreme world view smells of gvt hubris as to what you will do to punish us who believe in individual freedoms. since your brain continues to be adversely affected by the MS,
Erroneous overconfidence and foolish pride comes before the downfall. more threats the difference btwn a USB mining stick is that it has to be plugged into a non-portable computer to mine. and this means at home where you'd have to pay for your own electricity. your reading comprehension failed to pick up the part about "portable" and "free".
Of course I didn't miss your point about stealing or parasiting electricity from public venues. We have some insight into your ethics now. We can be fairly certain that the price of the lattes will be increased accordingly. it's not my ethics we're assessing here and i don't advocate anything. it's what i think will happen based on my assessment of human behavior. this is what will happen when you give ordinary ppl the proper economic incentives. i mentioned yesterday that same feeling i got when viewing CPU/GPU mining videos back in 2011. Bitcoin motivates ppl strongly. you totally fail to grok this.
Your ignorance of the fact that smartphones have a USB port is pathetic.
wow, you are ignorant. you didn't get what i said, did you? your logic failure about a NWO & Digital Kill Switch scenario is that there is no reasonable financial elite apparatchik who would ever want to give up their greatest WMD, the printing press, in order to roll the dice on orchestrating a worldwide transition to such a dangerous (to them) tech such as Bitcoin.
Control of Bitcoin mining if anything solidifies their control over media, because they can Digital Kill Switch dissidents and competitors. this sounds like gvt talk you fail to read history going back to the cypherpunks of the 1970-80's on the quest/evolution of digital, anonymous money. Bitcoin is the culmination of that project. not some NSA sponsored scheme. sorry dude. you need to up your meds.
Vacuous ideological rhetoric. Prepare for you irrelevance. As guaranteed.  |
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i don't have the energy right now to put up all the charts for you guys but for anyone interested in getting a feel for what's going on in the real economy should go look up the charts of energy, copper, mining companies, commodities, etc.
most have already rolled and are starting to roll again, ie, deflation in full force.
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for the first time ever in Bitcoin's history, we'll have a scalable mining ASIC embedded in the most popular portable computing device on the planet (smartphones) whose growth is set to skyrocket and turn billions of unbanked into banked clients not only for micropayments but for standard commerce via a hardware wallet. the portability aspect of this device potentially will allow it to mine for free. right now i can envision unemployed African kids camped out at Starbucks or public libraries with not one but 7 Android phones (2 in their front pockets, 2 in their back pockets, 2 in their shirt pockets, and 1 in their hands for surfing) plugged into public outlets generating BTC while they're sipping their lattes. wait, nevermind Starbucks. why not go to the airports where it's plain to see the proliferation of phone charging kiosks in preparation for the smartphone age?
free electricity for all!
Perhaps you missed the point that the plan (at least for the heating appliances) is likely to sell devices at lower cost and all the coins go to the cartels and oligarchs. The users are not to have to deal with any of the complications of mining and the mining runs on auto-pilot. Assuming phones at higher cost will be available that allow users to get the coins from mining, I fail to see how this is paradigmatically differentiated from the $9 USB stick miner I can buy on Amazon.com and plug into my phone and computer now. Meaning there won't be any great adoption of users mining coins for themselves that isn't already underway. The only major paradigm shift here is lower cost devices for user, and the mined coins are going to the cartels and oligarchs. If you can't grasp that obvious reality then I don't know what else to say to you. I guess enjoy the bliss while you can. the only financial plan i've heard of is the 25/75% split btwn the consumer and 21, so the consumer is going to get spending coin. and that would be business savvy for the companies b/c that allows consumers to purchase other services and features. yes, the mining and hardware wallet will be on autopilot and already setup which makes it brain dead easy for even guys like you to use so you won't feel so bad for having not bought @ $13. since your brain continues to be adversely affected by the MS, the difference btwn a USB mining stick is that it has to be plugged into a non-portable computer to mine. and this means at home where you'd have to pay for your own electricity. your reading comprehension failed to pick up the part about "portable" and "free". your logic failure about a NWO & Digital Kill Switch scenario is that there is no reasonable financial elite apparatchik who would ever want to give up their greatest WMD, the printing press, in order to roll the dice on orchestrating a worldwide transition to such a dangerous (to them) tech such as Bitcoin. you fail to read history going back to the cypherpunks of the 1970-80's on the quest/evolution of digital, anonymous money. Bitcoin is the culmination of that project. not some NSA sponsored scheme. sorry dude. you need to up your meds. |
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RUT starting to roll again after having broken the wedge:
img Russell
prepare for launch:
img VIX
I'm actually short russel since yesterday, or is that what you mean? Still leveraged short on S&P, got pushed out of my DJIX shorts  might get myself some new contracts. Also some longs VIX just for the hell of it. certainly don't rely on me for investment advice. personally, i stopped trading the stock mkt some time ago (too much manipulation) altho i still have my open gold short DZZ. |
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32 bit, Armory 0.93.1
Yeah, no... wait, 0.93.1 does run on Ubuntu 32 bit. was working with 12.04, 32 bit... |
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any suggestions?
What does it say is wrong when you run with --skip-online-check? Still no internet available? i didn't run it from the command line. i just unchecked that box in the Settings GUI. |
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Your comments about solar water heaters are irrelevant, because people aren't buying them (in the dominant markets). They are therefore inferior in some way (don't work particularly well in built-up cities for example, which is where populations are moving), in the opinion of the people making the purchases. That's the only opinion that matters, not yours.
Solar water heaters have issues. And mining doesn't  You're not getting that nobody is proposing "mining" in anything like the form it is done today, with all of its issues. Embedded deeply into a product (or indeed embedded deeply into a chip which is embedded deeply into a product) it won't be recognizable. for the first time ever in Bitcoin's history, we'll have a scalable mining ASIC embedded in the most popular portable computing device on the planet (smartphones) whose growth is set to skyrocket and turn billions of unbanked into banked clients not only for micropayments but for standard commerce via a hardware wallet. the portability aspect of this device potentially will allow it to mine for free. right now i can envision unemployed African kids camped out at Starbucks or public libraries with not one but 7 Android phones (2 in their front pockets, 2 in their back pockets, 2 in their shirt pockets, and 1 in their hands for surfing) plugged into public outlets generating BTC while they're sipping their lattes. wait, nevermind Starbucks. why not go to the airports where it's plain to see the proliferation of phone charging kiosks in preparation for the smartphone age? free electricity for all! |
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i have the same problem after upgrading to Ubuntu 14.04.2, 32 bit, Armory 0.93.1 with plenty of disk space and RAM. this is despite running Armory with --skip-online-check or --satoshi-datadir=/home/user/.bitcoin/ any suggestions?  |
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RUT starting to roll again after having broken the wedge:  prepare for launch:  |
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sidhujag & Pruden,
you are going to get f*cked. get out now. this one doesn't look like its coming back:
-
btw, i'm on record thinking that a stock mkt crash will cause a ramp in Bitcoin and a plunge in gold. |
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