Diff thread Aug 8 to Aug 22nd picks are closed. Good luck!

[jonnybravo0311]

looks to me more like a altcoin, or an sabotage of the bitcoin or an take over....

It's actually how it's supposed to work. There is no central authority to approve changes. Anyone can come up with a fork, I could make a code change that gives me a million coins and tell everyone to start using it. Obviously I'd be told to stuff it into various cavities but if someone comes up with a reasonable fork and asks to join and gets the consensus - it will happen.

Funny, you just described 99.9% of all alt coins out there...

looks to me more like a altcoin, or an sabotage of the bitcoin or an take over....

It's a lot like an alt coin with one primary difference: there isn't a new blockchain.  These changes are intended to ride on the existing BTC blockchain.  Anyone can make their own coin.  In fact quite a few people have done precisely that.  Somebody didn't like the SHA-256 algorithm, so they used scrypt (hi LTC, how are you).  Some don't like the block halving, so they change that.  Some don't like the total number of coins, so they change that.  Some want proof of stake (PPC anyone).  In every case, each of these became its own entity - and they're collectively known as alt coins.

What XT is proposing is nothing more than a fork.  A change to the core code that increases block size (among a few other things like better double spend detection/tracking) means there are two disparate entities now competing to add blocks to the chain.  If enough people follow the XT path, then that fork will win... leaving everyone who doesn't follow it on a useless chain.

[philipma1957]

coins are tanking like a mother fucker!  222 at coin base!

time to buy!

[suchmoon]

coins are tanking like a mother fucker!  222 at coin base!

I posted this on another forum but perhaps relevant here too:

[philipma1957]

coins are tanking like a mother fucker!  222 at coin base!

I posted this on another forum but perhaps relevant here too:

I just purchased some I got in at 222 .

I feel for those that grabbed a few s-5+'s

BTW  the  price tank happened right after bitmaintech stopped sales on both the s-5 and the s-5+

[mavericklm]

162 at finex!!! what a show!

need more popcorn!

[philipma1957]

162 at finex!!! what a show!

need more popcorn!

wow that is monster low.

I would love to see it flatten out around 200-210 and stay put for a month.

[VirosaGITS]

coins are tanking like a mother fucker!  222 at coin base!

I posted this on another forum but perhaps relevant here too:

I just purchased some I got in at 222 .

I feel for those that grabbed a few s-5+'s

BTW  the  price tank happened right after bitmaintech stopped sales on both the s-5 and the s-5+

Look like you made some quick buck. Or could have. (Jumped up to 230 before dropping again)

[notlist3d]

I really don't think XT is helping us at all.  It is getting news, and seems to scare some.

And wow has this been a crazy day of price.   I just hope it goes back up.

[philipma1957]

http://btc.blockr.io/charts

And the first four days  for this diff adjustment  pre China explosion.

 


Aug    8  2015   163     +19  but about +10 since part was last diff
Aug    9  2015   133      -11        so -1
Aug  10  2015    168     +24       So  +23
Aug  11  2015    170     +26         means we are + 49


And the 6 days after the China explosion.

Aug 12 2015   122      -22
Aug 13 2015   151      +7
Aug 14 2015   137       -7
Aug 15 2015   136       -8
Aug 16 2015   141       -3                     -33 after the explosion
Aug 17 2015   145       +1                     -32   "
Aug 18 2015   140       -4                      -36   "


So A coincidence ?    or did some damage occur.   Not  farms but net or just power restrictions to 1 farm near the blast.

Always hard to fully understand dynamics of diff.  Just look at the last 10 days    we had 122 as a low and 170 as a high!  Those are really big swings.

Our real number is +13    blocks


so we made 1554  and 1541 would be 0%   we are really at  +0.84%


Looking at the photos of the fire/explosions  does make you realize BTC centralization is a bad thing.  

 Farms of 20ph or more     mean 20/350 or 5.7% of the network.

Asic builders should take note the 2x 10ph farms are better then 1x 20ph

Well 462 blocks left should be fun.

 What did I omit  oh yeah  price dropped as low as 162 on one of the exchanges.


I got in on coinbase at 222 to grab a coin  coinbase got close to 200

I expect a lot of interesting shit the next week or two.



https://bitcoinwisdom.com/bitcoin/difficulty   (-0.56%) ------- I get  (+0.84%) see above.

Bitcoin Difficulty:   52,699,842,409
Estimated Next Difficulty:   52,403,664,014 (-0.56%)
Adjust time:   After 459 Blocks, About 3.3 days
Hashrate(?):   376,592,586 GH/s
Block Generation Time(?):   
1 block: 10.3 minutes
3 blocks: 30.9 minutes
6 blocks: 1.0 hours
Updated:   22:30 (3.5 minutes ago)


prices are 227 to 231 depends on where you buy.

[EternalWingsofGod]

looks to me more like a altcoin, or an sabotage of the bitcoin or an take over....

That's all it is, an altcoin with a name very similar to Bitcoin.  It will never become the main coin if China ignores it, which all indications seem to be that's what is going to happen.

It's funny that it's forked with larger blocks, but if not many people are going to use it then the larger blocks aren't necessary.

The interesting aspect would be if mining decided to split between XT compatible clients on fork and those that do not and support Core with a possibility of two trading platforms until stability is found that said assuming that were in the period of 1MB blocks in mid-2016 there would be a bunch of them now and then to justify XT otherwise your right that would be pretty funny everyone on Core and panicking while XT is underused then when users move over it balances out again if the transactions are not double counted on both platforms.

Bitcoin Difficulty: 52,699,842,409
Estimated Next Difficulty: 52,341,730,572 (-0.68%)  
Adjust time: After 440 Blocks, About 3.2 days  
Hashrate(?): 376,549,079 GH/s

Slightly negative at present but the price may impact that.

[philipma1957]

http://btc.blockr.io/charts

And the first four days  for this diff adjustment  pre China explosion.

 


Aug    8  2015   163     +19  but about +10 since part was last diff
Aug    9  2015   133      -11        so -1
Aug  10  2015    168     +24       So  +23
Aug  11  2015    170     +26         means we are + 49


And the 6 days after the China explosion.

Aug 12 2015   122      -22
Aug 13 2015   151      +7
Aug 14 2015   137       -7
Aug 15 2015   136       -8
Aug 16 2015   141       -3                     -33 after the explosion
Aug 17 2015   145       +1                     -32   "
Aug 18 2015   140       -4                      -36   "


today is the 19th and in 12 hours we made 81 blocks  that is a 162 pace

https://blockchain.info/blocks


This could all be variance or the power issues caused due to the Chinese explosions/fire are fixed.

thus more people got back on line.

Of course the s-7   using 1385  chip was announced

https://bitcointalk.org/index.php?topic=1156770.0

maybe bitmaintech is putting them into their mines as I type

[jonnybravo0311]

maybe bitmaintech is putting them into their mines as I type

They are "under development".  You know as well as I do that is code for "we're currently deploying them into our mines."

I wish they had announced the actual specs of the S7.  230W/TH is very nice, though.  If these follow the same form factor as the S1/3/5, I can up my local hash to about 12TH/s for the same power draw as I have now with my S3s.  I see some pretty big difficulty jumps in our future.

[suchmoon]

maybe bitmaintech is putting them into their mines as I type

They are "under development".  You know as well as I do that is code for "we're currently deploying them into our mines."

I wish they had announced the actual specs of the S7.  230W/TH is very nice, though.  If these follow the same form factor as the S1/3/5, I can up my local hash to about 12TH/s for the same power draw as I have now with my S3s.  I see some pretty big difficulty jumps in our future.

It also depends on the price. If Bitmain decides to make money on margins instead of volume and the S7 costs 4 BTC per TH/s then the adoption will be slow. Also manufacturing capacity is not unlimited. Even if they can make 40 PH/s of those things per month that's just 5% increase per cycle minus whatever old hashrate they will end up replacing.

[jonnybravo0311]

Perhaps I should have defined big .  I don't mean we're going to see giant 20% increases... those days are likely long over.  By big, I meant we might see a few 8-10% increases.  You're absolutely right about the price as well.  They start selling these things at 4-5BTC per TH, nobody's buying.  I know I'm certainly not, considering I can get 1TH out of a couple S3s that are overclocked for well under 1BTC.  I'd have to run them for a long time to make up that 4BTC difference from power usage.

Just for fun... Assume the S7 is 1TH/s at 230W and costs 5BTC.  Assume also that I can get two overclocked S3s that will also get me 1TH/s for 800W.

Both expect to mine 0.009543BTC a day currently.  At exchange of $225 (sure hope THAT goes back up), that's about $2.15 a day.

At $0.10 per kWh, the S7 will cost $.55 a day to run.  The S3s will cost $1.92 a day.  So, I make $1.37 a day more with the S7.  To make up that 4BTC cost difference, it'll take me 657 days.

[philipma1957]

based on their sales  since feb 2015 they will not be giving them away.  my guess is same form factor as s-5 and 2-3th  thus 460-690 watts

since the s-5 was 341 or 1.5 btc plus shipping    these would be  okay at 3 btc plus .5 to ship or 3.5 btc .

lets say 3th for 3.5 btc shipped   uses 750 watts and breaks even in 263 days  3% growth and 225 for a  btc


so 3th  750 watts 3.5 btc shipping included lets see if thats what they do.

[suchmoon]

based on their sales  since feb 2015 they will not be giving them away.  my guess is same form factor as s-5 and 2-3th  thus 460-690 watts

since the s-5 was 341 or 1.5 btc plus shipping    these would be  okay at 3 btc plus .5 to ship or 3.5 btc .

lets say 3th for 3.5 btc shipped   uses 750 watts and breaks even in 263 days  3% growth and 225 for a  btc


so 3th  750 watts 3.5 btc shipping included lets see if thats what they do.

Sounds like a challenge? 2.5 TH/s @ $1000 plus shipping.

[wlefever]

based on their sales  since feb 2015 they will not be giving them away.  my guess is same form factor as s-5 and 2-3th  thus 460-690 watts

since the s-5 was 341 or 1.5 btc plus shipping    these would be  okay at 3 btc plus .5 to ship or 3.5 btc .

lets say 3th for 3.5 btc shipped   uses 750 watts and breaks even in 263 days  3% growth and 225 for a  btc


so 3th  750 watts 3.5 btc shipping included lets see if thats what they do.

Sounds like a challenge? 2.5 TH/s @ $1000 plus shipping.

I would go for one of those as long as the fans don't blow the doors off, or pierce my ears with noise lol

[jonnybravo0311]

Agreed... I'd far more enjoy the noise levels of the S1/S3 than those of the S5 for this unit.  2.5TH/s for $1000?  Hmmm... again overpriced as far as I'm concerned, but it does match up with S5 pricing.  575W to get that 2.5TH/s, so just over double the hash of the S5 for just a bit less power draw.  Assuming that is indeed the spec of the unit (big assumption there), that's $5.37 a day before power costs at current difficulty and exchange rates.  Subtract out $1.38 a day for power at $0.10 per kWh and you're at just under $4 a day.  250 day ROI with that.

[philipma1957]

Agreed... I'd far more enjoy the noise levels of the S1/S3 than those of the S5 for this unit.  2.5TH/s for $1000?  Hmmm... again overpriced as far as I'm concerned, but it does match up with S5 pricing.  575W to get that 2.5TH/s, so just over double the hash of the S5 for just a bit less power draw.  Assuming that is indeed the spec of the unit (big assumption there), that's $5.37 a day before power costs at current difficulty and exchange rates.  Subtract out $1.38 a day for power at $0.10 per kWh and you're at just under $4 a day.  250 day ROI with that.

they have been pricing gear at a 225 to 275 day breakeven for a while.  time to do this will come soon.  I am glad I did not purchase a s-5+

[jonnybravo0311]

Yup, that's why I can see the pricing model as I described it... about $1000 for the unit.  250 day ROI puts it smack in the middle of their typical range.