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you need the volatility to have a value increase, investors like to play with the instability of the value, somethign based on supply and demand will always be unstable
not like the fiat currency which is issued by the a central autorithy, this will eventually be solved when the adoption increase to a certain lvel, and the value will be very very high without no more margin to crash or raise big again
until then what everyone is doing, is selling immediately his coin if he think he will lose money because of the instability, which is what merchants do, they don't hold
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Why we can't use this new version for mining?
GPU card = 400w = 35MH/s GekkoScience ASIC USB = 10w = 10 000 MH/s CPU = 190w = 2MH/s Cheap ASIC USB = 5w = 333 MH/s so, you can mine with an USB key that it contain 1 ASIC chip.  uh where those number come from? a 1080 can do 1giga, and consume less than 200watt, that number are surely based on old gpu or they are wrong as fuck still useless to mine but at least with a farm you can expect something, with 1000 gpu you have one tera already, not going to match the asic but still relevant at least |
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i would like always to set my fee, i don't want to pay that crazy amount there is now to pay, i like to set 50-70% of the average and wait a bit more, it will be confirmed relatively fast for me
with automatic fee you are always going to overpay most of the time, i don't know how the automatic fee work on multibit, but on core, some times i had the fee higher than the average with the automatic fee
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most of the popele waiting for bitcoin to skyrocket and hits these high value, will be the oen that will sell way before it actually hits that, i doubt many of use can hold past the $10k mark
you will be very tempted to sell, because at that point you are reach already, and for that value one must wait a decade+ at least...
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what about other gpu? my 1080ti can do 1gh but i think it should be more
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they added other 30k gpu to ETH hashrate in one day....crazy
Nicehash has 1.5 terrhash of ethereum hash. When the ethereum price rise 30%, the autoswitching miners switch to it. are you sure, i never seen this dropping... |
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they added other 30k gpu to ETH hashrate in one day....crazy Funny, you currently make more mining Ethereum with a 1070 or dual mining eth+sia then you do mining Equihash or Lbry... Just another example of how terrible a value proposition Nvidia is right now. Wonder when the tards mining Zcash will get the memo.
ha-ha, please, keep mining eth or zcash or lbry!!! other option like btcore netko and everything you have in mind now, are not that much profitable, probably 500k satoshi more every two rig |
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you must define what kind of prediciton do you want to have, a prediction for a stable value or just predicting the possible the peak
possible peak might be very high in one year, this will be more true if segwit is activated, assuming that the adoption will grow at the same rate as now, another 2x is expected in another year
we went 2x from 500-600 to 1200, we went again 2x now from 1200 to 2400, therefore i can expect a $4800 for the next peak
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bitcoin mining has always been profitable and that has never been because of fees. the extra fees the miners get is like a bonus to them. the fact that people no longer do it is because they don't have cheap electricity and as others said you need to make a big investment to buy some bitcoin miners.
also not to mention the fact that manufacturing of mining equipment is done in China and their mining farms will get their hands on the best and latest equipment with lower prices because of no shipping fees and other contracts they have with each other. which makes competing with them hard.
not really just a bonus when the total transaction fee account for 500 btc, which is more than 1/4 of their total generated coins per day, what they make now with fee is huge and it's keep growing, it will eventually match the amount per day on the other hands, miners are still making less than what they were making before the halving, in bitcoin(not in fiat), in fiat they are making more just because has a higher value |
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i have another question regarding minig, what is considerer a business activity, there is a threshold to overcome to make your activity a business level one?
for example there must be a difference between someone running a RIG for mining and someone else running a 10-100 rig farm, the first one as i see it should not be considered a business operation right?
otherwise buy this logi everyone with a gpu is someone running a business activity because he can mine and generate an income, and it doesn't make any sense...
If I am using a cpu, gpu or asic to mine bitcoin, when I convert it to fiat it is then considered income. In filing taxes you would be well advised to itemize and deduct everything that went into that mining including hardware, software, electricity, consultants and fees in the transfer and selling of the coins. I can call it a hobby, recreation or business, it doesn't matter, I am engaged in money making activity that brings me income. Income is taxable. There are of course always exceptions, but not in the example given. A threshold based on the volume of the activity is not really a good measure as to whether or not a business is being operated. Big or small it is all business. But typically those involved in a business venture have a business entity such as a corporation, although you can be a sole proprietor or have a joint venture or general partnership, and also generally have a tax payer identification number and a license or licenses to conduct the business . Best: George D. Greenberg, Esq. www.attorneybitcoin.comthere must be a threshold where the IRS ignore the amount, just to avoid wasting time with peanuts money, and with this kind of situation that i explained for chasing someone that is not going to declare his little income, they need to have money themselves, i mean it's not free, to trace someone who is alleged to be a evasor |
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it's definitely cheaper, in this regard, bitcoin has a big edge on international transfer, just take at look at this example
in my case with deutesche bank i need to pay 25 euro to transfer money abroad, and this apply to any sum, with bitcoin you will never pay a fee that big to send money to soemone else on another country
another good think bitcoin is good at is the conversion, when you convert usd with euro and receive money in your bank account they take 3.5% like paypal, with bitcoin you will never lose this percentage
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A country doesn't "adopt" Bitcoin until a large number of people begin using it, regularly, as an alternative to fiat currency.
Allowing something to exist does not encourage it, and a few merchants accepting it in addition to fiat does not indicate adoption at all.
Any price rises which happen from this would just be empty speculation, not based on actual users.
I do not agree with you. If some of your bigger payment processors show enough confidence to publicly announce that they are going to accept Bitcoin as a payment option, then the smaller merchant will follow. We normally see the smaller merchants taking the lead with something new, but this is a significant move from the bigger players. ^smile^ The same thing happened in Japan, and the wheel started to turn. i don't know how big is this chronopay but unless this thing is big like paypal, it won't do much for the adoption, but it's nice to have beginning there in russia, if other small payment processor will follow you can have something but until russia regulate directly and view bitcoin as a currency like japan, it won't increase the usage too much in their country |
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Since rising bitcoin prices make bitcoin miners excited again, because the results of mine may exceed the cost of bitcoin mining processes
What do you think about this?
What the hell are you on about? Miners' revenues individually don't necessarily increase when the price goes up. Higher total revenues --> more mining power dedicated to the network --> difficulty adjustment makes their profits nearly the same again. Obviously there are other factors like the development of mining technology, but on the most basic level that's what happens. the difficulty never catch up with the value when there is a pump like this one, in fact the difficulty only increase 10-20% at best each month and in the last month bitcoin did 2x basically, therefore in this time frame the gain was 2x more than before, the diff still didn't catch up with the value that increased, there is plenty of room for profit now for reference https://blockchain.info/it/charts/difficulty |
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That is another common myth.
Even back in the days of CPU and GPU mining, mining was unprofitable for most users because the value of the mined bitcoins was so low.
i bet it was not the same at the beginning, because you could mine with just one cpu that consume nothing per month and do 1000 coins a day mining equipment costs how much please?
the antminer s9 was priced $1161, not long time which is a really good deals, but now you need $2k, isee this price on many website the value of a single coin is very high it make sense, to have that price, or roi would be ridiculous fast |
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what i know is that any amount above $1k is immediately reported to avoid money laundering, never heard of this 10k threshold
i think capital gain is taxable everywhere in the same way, i doubt you can go away without paying it, taxes are mandatory no amtter from where you come
if that 1k transfered is still in bitcoin and not in fiat, you can ignore taxes in some country, but this is the only exception
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Mt gox inc?
Looks similar for sure.
nah they don't have enough liquidity to do that, mtgox was an exchange that basically held all the funds, in one single spot, here they have their own exchange and they are trading with their own value for bitcoin Can't understand why bitcoin price in South Korea is very high since they could buy at international/foreign exchange with lower price, but it's great to see another country have active bitcoin exchange with big volume.
Looks like we will see another country in asia will legalize/more friendly with bitcoin activity and see actual bitcoin trading/usage activity.
could be that they have some restrictions to buy abroad from other country and receive money in their bank account, could also be that is more expensive for them to buy abroad for wire transfer and all |
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At a conference, I heard the hackers didn't get that much income. I doubt, they would be the ones to "manipulate" Bitcoin's price. They installed XMR miners too and I didn't see this high pump in Monero lol.
it's a mental thing, they forced many people to pay and scared many other that maybe bought bitcoin in case the same thing happen to them, i would not be sos ure if this trick didn't work for him and indeed the pump was not due only to this, that is clear, there are manipulation from big whalas here as usual |
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you reached 18MH on 1070 with bitcore?
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probably AMD is good as nvidia on everything if not better, but only if you have the wolfo super miner...
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My Gigabyte full-length 1070s have a TDP of 180 watts - which is the highest I've seen on a 1070, most seem to be at the "FE" level 155 watts TDP.
A EVGA G2 1000 in a rig with a low-TDP CPU should handle 5 of them, and if you lower the TDP to under 160 watts (like most ZEC miners do) or use cards with a lower starting TDP (EVGA 1070 SC as an example) it should do so comfortably.
super jetstream can touch 225watt, i tested with my rig of six of them |
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