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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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vapourminer
Legendary
Offline
Activity: 4326
Merit: 3523
what is this "brake pedal" you speak of?
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April 20, 2020, 03:10:21 PM |
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I'm concerned that the donkey is not allowed to wonder. Seems a bit draconian in the mind control department.
i am not a number, i am a free donkey!!!
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vapourminer
Legendary
Offline
Activity: 4326
Merit: 3523
what is this "brake pedal" you speak of?
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April 20, 2020, 03:19:56 PM |
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OMG, retirement man-cave goals! This is how I imagine that Daft Punk would chill out after retirement. glad this was reposted as i missed it originally.. i rarely watch videos as 99% are a waste of (my) time, but this was pretty inspiring. alas, i lack musical talent even if i play with stuff from time to time. probably simulate all that analog gear with a raspberry pi now. well except for the analog "sound" perhaps.
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Biodom
Legendary
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Activity: 3752
Merit: 3869
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April 20, 2020, 03:30:00 PM |
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Crude was down to $14.95 15.10 ( 18% 17% after opening). WTF?
I just checked the electricity rates proposals-funny, no change since 10-14 days ago. Market pricing? LOL
EDIT: I get that WO is mostly focused on bitcoin, but 18% change in a price of a major commodity that the whole world is running on in a DAY is completely staggering. It is not a stock like freaking TSLA or NFLX. This has major implications (eventually) for everything.
WTI is 10.88$ now. The delivery point is at Cushing (OK), and they are literally stocking OIL everywhere. But don't get too excited about this, it's only a technical factor and the future curve is in a super contango. This means spot prices are way lower than future prices, even accounting for increased Cost of carry etc. In a little bit less Technical jargon this means that the WTI price you are looking at expires in 3 days. So in a couple of days you will see a WTI at 22 without anything changing. So just ignore when someone will shout in a couple of days: WTI is up 10 USD! Just don't expect your gas changing price for that. You might find useful my thread on futures, with explanation of the "contango" curve. Great point, but who is to say that June contract would not follow there shortly. June is down 12% today. It's not 40%, but also a crazy move. https://www.reuters.com/article/us-global-oil-contracts/expiring-us-crude-oil-futures-contract-posts-epic-40-slide-idUSKBN2221TS
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Toxic2040
Legendary
Offline
Activity: 1792
Merit: 4141
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April 20, 2020, 03:34:56 PM |
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Good morning. Happy 4.20 all. ------ Bitcoin has retraced overnight to give a solid thump off of $6.9k support. Considering how legacy markets are reacting to the significant slide in oil prices...this is good news as far as I am concerned. Still consolidating in a range as the halvening price searches for discovery. #dyor 1h Still buying the dips and stacking sats. 4h #stronghands
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fillippone
Legendary
Offline
Activity: 2156
Merit: 15476
Fully fledged Merit Cycler - Golden Feather 22-23
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April 20, 2020, 03:41:53 PM |
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Crude was down to $14.95 15.10 ( 18% 17% after opening). WTF?
I just checked the electricity rates proposals-funny, no change since 10-14 days ago. Market pricing? LOL
EDIT: I get that WO is mostly focused on bitcoin, but 18% change in a price of a major commodity that the whole world is running on in a DAY is completely staggering. It is not a stock like freaking TSLA or NFLX. This has major implications (eventually) for everything.
WTI is 10.88$ now. The delivery point is at Cushing (OK), and they are literally stocking OIL everywhere. But don't get too excited about this, it's only a technical factor and the future curve is in a super contango. This means spot prices are way lower than future prices, even accounting for increased Cost of carry etc. In a little bit less Technical jargon this means that the WTI price you are looking at expires in 3 days. So in a couple of days you will see a WTI at 22 without anything changing. So just ignore when someone will shout in a couple of days: WTI is up 10 USD! Just don't expect your gas changing price for that. You might find useful my thread on futures, with explanation of the "contango" curve. Great point, but who is to say that June contract would not follow there shortly. June is down 12% today. It's not 40%, but also a crazy move. https://www.reuters.com/article/us-global-oil-contracts/expiring-us-crude-oil-futures-contract-posts-epic-40-slide-idUSKBN2221TSProbably, is the deposits in Cushing keep so high in occupancy, it will probably follow the same path. But then again next expiry would be higher etc.... This is basically why traders are constantly fighting the contango, tying to get rid of that oil nobody want. Only hope are OPEC cuts enacted from May 1st.
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Last of the V8s
Legendary
Offline
Activity: 1652
Merit: 4392
Be a bank
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April 20, 2020, 04:00:54 PM |
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How many coins could you mine with the energy from 600 barrels of oil?
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Biodom
Legendary
Offline
Activity: 3752
Merit: 3869
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April 20, 2020, 04:04:51 PM |
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Crude was down to $14.95 15.10 ( 18% 17% after opening). WTF?
I just checked the electricity rates proposals-funny, no change since 10-14 days ago. Market pricing? LOL
EDIT: I get that WO is mostly focused on bitcoin, but 18% change in a price of a major commodity that the whole world is running on in a DAY is completely staggering. It is not a stock like freaking TSLA or NFLX. This has major implications (eventually) for everything.
WTI is 10.88$ now. The delivery point is at Cushing (OK), and they are literally stocking OIL everywhere. But don't get too excited about this, it's only a technical factor and the future curve is in a super contango. This means spot prices are way lower than future prices, even accounting for increased Cost of carry etc. In a little bit less Technical jargon this means that the WTI price you are looking at expires in 3 days. So in a couple of days you will see a WTI at 22 without anything changing. So just ignore when someone will shout in a couple of days: WTI is up 10 USD! Just don't expect your gas changing price for that. You might find useful my thread on futures, with explanation of the "contango" curve. Great point, but who is to say that June contract would not follow there shortly. June is down 12% today. It's not 40%, but also a crazy move. https://www.reuters.com/article/us-global-oil-contracts/expiring-us-crude-oil-futures-contract-posts-epic-40-slide-idUSKBN2221TSProbably, is the deposits in Cushing keep so high in occupancy, it will probably follow the same path. But then again next expiry would be higher etc.... This is basically why traders are constantly fighting the contango, tying to get rid of that oil nobody want. Only hope are OPEC cuts enacted from May 1st. yep, Hin Leong (singaporean oil trader firm) goes bust with $4 bil debts.
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Raja_MBZ
Legendary
Offline
Activity: 1862
Merit: 1505
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April 20, 2020, 04:06:43 PM |
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fillippone
Legendary
Offline
Activity: 2156
Merit: 15476
Fully fledged Merit Cycler - Golden Feather 22-23
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April 20, 2020, 04:07:10 PM |
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yep, Hin Leong (singaporean oil trader firm) goes bust with $4 bil debts.
NYMEX bracing for NEGATIVE PRICES
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d_eddie
Legendary
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Activity: 2492
Merit: 2912
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April 20, 2020, 04:09:43 PM |
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Chinese New Year in 2021 is the year of the Ox (effectively a bull, right!)
Hm, except for the missing bit. Two bits, actually.
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VB1001
Legendary
Offline
Activity: 938
Merit: 2540
<<CypherPunkCat>>
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April 20, 2020, 04:11:00 PM |
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BitMEX Joins COVID-19 Relief Efforts with Dedicated $2.5M FundThe company contends that as a fintech, the best way for it to contribute to global efforts is through “strategically directed funds [that] can fill gaps in the global response and rapidly empower well-equipped but under-resourced organizations.”
Following a consultation with a philanthropic advisory group, HDR Global Trading has chosen to donate to the two Gates Philanthropy Partners COVID-19 Funds, the Biosecurity program at the Nuclear Threat Initiative, OpenMined, and Our World in Data. https://cointelegraph.com/news/bitmex-joins-covid-19-relief-efforts-with-dedicated-25m-fund
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Last of the V8s
Legendary
Offline
Activity: 1652
Merit: 4392
Be a bank
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Strange sort of pepper mill. idk.* *happy 4/20
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Biodom
Legendary
Offline
Activity: 3752
Merit: 3869
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How many coins could you mine with the energy from 600 barrels of oil?
A very interesting question. I am getting 35.7btc using S17pros and pre-halving reward size of 12.5btc (obviously, half of that afterwards). Basically, about 19X of what 600 barrels would cost at $22/barrel. ^^Someone probably could make a fortune here in Texas if they have means to convert oil into electricity, then mining with that in the next couple of mo.
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VB1001
Legendary
Offline
Activity: 938
Merit: 2540
<<CypherPunkCat>>
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April 20, 2020, 04:20:22 PM |
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With 600 barrels, you would have 42,000 liters of gasoline for your V8
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nutildah
Legendary
Offline
Activity: 2982
Merit: 7976
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April 20, 2020, 04:20:29 PM |
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Strange sort of pepper mill. idk.* *happy 4/20That's going to need some sort of filter or screen or a lot of uncharred nugs uncracked pepper nodules are going to fall straight into the bong water pepper mill water. BTW, today is my forum birthday.
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Toxic2040
Legendary
Offline
Activity: 1792
Merit: 4141
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How many coins could you mine with the energy from 600 barrels of oil?
42 gallons per barrel about 20 gallons of gas refined per barrel of oil 20x600=12,000 gallons of gas 'How long will a 5000 watt generator run on a gallon of gas? 24 hour Most portable generators will run on gasoline out of convenience. A standard 5,000 watt generator will consume around 18 gallons of gasoline during a 1 day/24 hour period. This makes it very unrealistic and expensive for long term use.' https://generatorpowersource.com/generator-fuel-consumption/12,000/18=666.6666666666666666667 twenty-four hour days (oh shit..here we go) 24x666.6666666667= aprox. 16,000kwh -------- long story short...a lot probably. Looks like better answers have been supplied anyways.
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jojo69
Legendary
Online
Activity: 3164
Merit: 4345
diamond-handed zealot
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April 20, 2020, 04:25:39 PM |
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what was that 'french guy's name' effect the other day, the closer you are to the mine?
sorry, short term memory and all, I think I might have had one of those pepper grinders in college
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Last of the V8s
Legendary
Offline
Activity: 1652
Merit: 4392
Be a bank
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April 20, 2020, 04:35:06 PM |
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Berger? Bisset? Boucher? Brodeur? Caron? Charpentier? Chevrolet? Couture?
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