Biodom
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Activity: 3710
Merit: 3797
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July 15, 2018, 10:41:20 PM |
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lol
nobody is going to stop mining
fool me once...shame on...shame on you...fool me, can't get fooled again
2% already did, presumably, or more accurately, 2% of hashing rate retired (temporarily or permanently). There might be another 10% in the next mo if price stays the same.
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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Searing
Copper Member
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Activity: 2898
Merit: 1459
Clueless!
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July 15, 2018, 10:53:31 PM |
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lol
nobody is going to stop mining
fool me once...shame on...shame on you...fool me, can't get fooled again
2% already did, presumably, or more accurately, 2% of hashing rate retired (temporarily or permanently). There might be another 10% in the next mo if price stays the same. LTC is gonna take a hit here soon.....all scrypt-pow coins IMHO.... right now ..at current LTC and pow-scrypt prices the hardware that has 90% of scrypt pow miners still mining..including LTC is the Bitmain L3+...well, if 90% of the miners that exist for scrypt-pow are by Bitmain and they say 1/2 can't cover electric at these prices..they all go off at the same time...the catch is eventually if it is NOT working for some (the preimer miners) and eventually difficulty passes that make sense to mine scrypt-pow...there are NO other miners to replace...all scrypt-pow would then centralize to bitmain and they also will have 51% of LTC network thats the catch...no other miners to replace..then centralization ramps up big time add to the fact of the 'supposed' bitmain miner with 3x the capacity and same watts more or less..and the usual bitmain process of mining like hell for 4-5 months before offering it to the public..you could see a complete clean slate of equipment wiped out with the only option (in scrypt pow) of buying dubious bitmain equipment because those 90% now L3+'s still mining would then be kaput would be dumb IMHO for bitmain to do that..but monoplies usually eat their young and do stupid stuff.. so expect this coming down the pike...no advantage to current L3+ owners if the conditions become ripe for all to shut off and new equip exclusively to bitmain for the next 4-5 months would pretty much take care of that.. we will see...sold all my bitmain L3+'s and I'm out now....not gonna play their game..if such a 3x the speed unit exists I see a hit coming in this area...can't help btc price either these kinda games hope I am incorrect about the suspected new equip and the games above but bitmain has done this kinda thing before
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Syke
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July 15, 2018, 11:45:44 PM |
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Before difficulty adjusts, time passes. If fast enough drop in hashing occurs, instead of adjusting, tx would have difficulty being mined (for a significant time period). By the time you could use your laptop again the value would be in the single $, presumably.
We've never had to endure a mining bear market. Repeated drops in difficulty would be painful.
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jojo69
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Merit: 4271
diamond-handed zealot
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July 15, 2018, 11:57:00 PM |
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Before difficulty adjusts, time passes. If fast enough drop in hashing occurs, instead of adjusting, tx would have difficulty being mined (for a significant time period). By the time you could use your laptop again the value would be in the single $, presumably.
We've never had to endure a mining bear market. Repeated drops in difficulty would be painful. please god let it happen in the winter time
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jbreher
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Merit: 1660
lose: unfind ... loose: untight
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July 16, 2018, 12:11:15 AM |
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PS the miners were never intended on being a separate group from the users.
“The design supports letting users just be users. The more burden it is to run a node, the fewer nodes there will be. Those few nodes will be big server farms. The rest will be client nodes that only do transactions and don’t generate.” - snSatoshi didn’t foresee ASICs.
“At first, most users would run network nodes, but as the network grows beyond a certain point, it would be left more and more to specialists with server farms of specialized hardware.” - sn
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yefi
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Activity: 2842
Merit: 1505
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July 16, 2018, 12:43:37 AM |
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Before difficulty adjusts, time passes. If fast enough drop in hashing occurs, instead of adjusting, tx would have difficulty being mined (for a significant time period). By the time you could use your laptop again the value would be in the single $, presumably.
We've already had two halvenings, a hardfork with bcash and 80-90% drops in price and this "heat death" scenario has never materialised.
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V1lpu
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July 16, 2018, 01:07:58 AM |
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Biodom
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Activity: 3710
Merit: 3797
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July 16, 2018, 01:08:14 AM |
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Before difficulty adjusts, time passes. If fast enough drop in hashing occurs, instead of adjusting, tx would have difficulty being mined (for a significant time period). By the time you could use your laptop again the value would be in the single $, presumably.
We've already had two halvenings, a hardfork with bcash and 80-90% drops in price and this "heat death" scenario has never materialised. Perhaps, and I hope so (that it stays this way); I was just pointing out to two groups of posters (pure hodlers and pretty picture TA guys) that there is a price sensitive component (mining) that, in my opinion, is being stressed right now. My suggestion is to buy more btc if you want your btc to persevere. Simple HODLing won't work.
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Searing
Copper Member
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Activity: 2898
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Clueless!
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July 16, 2018, 01:20:24 AM |
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yeah...what I figure..took 1/2 of my BTC and Crypto and 1/2 of my traditional stocks etc and IF I manage to continue to stay out of debt (and house is paid) I can slide by on my usual 35K salary I had before I retired in Jan 2018 (3 years early) and same with alts and such till at least 65 years and have another small work IRA to get me thru that last year to full retire at 66 years, and keep my BTC and maybe some alts in the process. Also at 65 you can take medicade thus that is another 14k saved a year too boot... so i can slide...thru what I see as a complete sh*tstorm in the next 3-5 years so pay off your j.c. penny card, get new tires, neuter the cat, get some debt down ANYTHING before this all happens...so at least if it does go kaput with a nice deep 40% correction you can say at least i did xxxy of course I hope that if such happens BTC and crypto would act as a store of value and go sideways or up in value while stocks etc dumped but the above is 1/2 of all my crap gone..stay out of debt ... and still float is the goal hopefully, I'm wrong and all will be just dandy crypto and otherwise...(but not seeing it) later brad
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Rosewater Foundation
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July 16, 2018, 01:23:38 AM |
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With Wall Street in like Flynn I don't imagine we'll be the safe haven everyone imagines we'll be. We're pegged to the mainstream now, like it or lump it. Of course, macroeconomics isn't really one of my strengths. I'm more an ideas man.
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Anon136
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Merit: 1217
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July 16, 2018, 01:33:14 AM |
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Everything bubble Everything except gold and silver bubble . That's why I still like them so much as an asset. The price action has obviously been abysmal in those market, but like I said a few posts back, price doesn't interest me that much (well you know except when other factors motivate me to sell at which time I hope the price happens to be high).
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Hueristic
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Activity: 3766
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Doomed to see the future and unable to prevent it
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July 16, 2018, 02:26:22 AM |
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It was a -vich hunt all along. SHUM lol
nobody is going to stop mining
fool me once...shame on...shame on you...fool me, can't get fooled again
https://www.youtube.com/watch?v=zYMD_W_r3FgHEY, Just noticed I'm not alone anymore. $7,500-$8,000 - 9 (9.3%)
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sirazimuth
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Activity: 3318
Merit: 3427
born once atheist
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July 16, 2018, 02:37:43 AM Last edit: July 16, 2018, 12:38:18 PM by sirazimuth |
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Imagine if some bitcoiner fell into a coma right after it cracked 5k last year and just now woke up. he'd be like... $6300.. wow! bitcoin up over a $grand in less than a year!!!, wooo-hooo!!!
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bitserve
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Activity: 1806
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Self made HODLER ✓
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July 16, 2018, 03:05:50 AM |
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Imagine if some bitcoiner fell into a coma right after it cracked 5k last year and just now woke up. he'd be like... $6300.. wow! bitcoin up over a $grand in less than a year!!! wooo-hooo!!!
Nonsense. If I ever fall into coma and wake back I would be fully expecting Bitcoin to be well over $100K. Otherwise I would be very disappointed and just fall into coma again until the next halving. ... Yes, I am such a deluded fool. And I am getting a bit annoyed considering there are only few months left before we can't use the "less than a year ago" price reference anymore and we are forced to resort to longer time frames for positive result.
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HairyMaclairy
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Activity: 1414
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Degenerate bull hatter & Bitcoin monotheist
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July 16, 2018, 03:08:37 AM |
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Imagine if some bitcoiner fell into a coma right after it cracked 5k last year and just now woke up. he'd be like... $6300.. wow! bitcoin up over a $grand in less than a year!!! wooo-hooo!!!
We were sitting in the $1800 - $2500 range in July 2017.
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infofront (OP)
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Activity: 2618
Merit: 2755
Shitcoin Minimalist
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July 16, 2018, 03:10:46 AM |
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I was looking at one of MasterLuc's graphs from last August. His calls were about 4-5 months too early, but he was reasonably close.
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Rosewater Foundation
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July 16, 2018, 03:11:14 AM |
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Hodling all the way down was the functional equivalent of falling into a 6 months coma. Waking up to that has been terrible.
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