Biodom
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Fricking paywall shite no? use uBlock origin instead of adblock plus and it would work.
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nullius
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March 14, 2021, 07:55:28 PM Last edit: March 14, 2021, 08:22:52 PM by nullius |
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Happy Pi Day guys... today is a Pi π day - 3.14 Happy Pi day! So here’s thought what if all the Bitcoin mining rigs starts calculating the value of Pi just for 10 minutes? How much can we calculate? Keeping in mind (in early 2020) the computers on the bitcoin network were calculating close to 120 exahashes per second.
And for a reference “One terahash is a trillion hashes per second, one petahash is a quadrillion hashes per second, and one exahash is one quintillion hashes per second (a one followed by 18 zeros).” Bitcoin mining hardware is restricted to a single use. That is the meaning of “ASIC”: Application-Specific Integrated Circuit. A Bitcoin mining ASIC can only perform the inner-loop calculation for mining Bitcoin. It cannot be repurposed for anything else. The inputs to the ASIC chips are a 32 byte midstate, the last 4 bytes of the merkle root, a 4 byte timestamp, and 4 byte "bits" (target/difficulty). Compare: https://rya.nc/asic-cracking.html Edit: I forgot to add: The algorithms usually used to calculate digits of pi are I/O limited, not CPU-limited. That is one of the reasons why supercomputers are usually not used to calculate digits of pi. You need big storage on fast SSDs. Even a pi-digit-specific ASIC would not help you there.
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El duderino_
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BTC + Crossfit, living life.
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Let's get back on topic everyone. I don't find you credible in any way How much maths and science do you know? 1btc = 1btc no matter what. What about that and what do we need to know more.
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DaRude
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In order to dump coins one must have coins
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March 14, 2021, 07:58:36 PM |
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-multisnips-Biodom, it's not the first time you use the word 'bearish' to define JJG's ladder system. Why would you characterize it so?
I just do not want to criticize too much, to each their own. you would be able to borrow against btc stack, which M. Saylor keeps bringing up, but not many on WO are listening. Such loans are typically used by high net worth individuals (HNWI) against VTI, VOO, SPY, and other whole or broad market ETFs. Thank you. You got me thinking, especially about the loan thingy. I'd be glad to know more about that. Any pointers will be welcome. Fidelity: https://www.investopedia.com/fidelity-will-accept-bitcoin-collateral-for-cash-loans-5091879Basic rate is high, 4.5%, but i am sure this will go down. I would be shocked if Coinbase would not do the same soon after the IPO. Personally, i would never go above 20% LTV, maybe just 10% (in case of our typical 80% drawdown). The advantage-NO cap gains tax. In fact, maybe deductible interest (or not, hard to say) Borrowing Against securities (better rates right now): https://www.schwab.com/pledged-asset-lineLibor is 0.11%, so the best rate is 1.86%. Say, you've got, hypothetically, $10 mil of VOO. You borrow $ 3mil. Your interest (to pay) is 3000000X0.0186=$55800 yearly However, $10mil in VOO generates $152000 yearly in dividends. End result-you borrowed $3 mil to do whatever, it effectively cost you nothing (well, a decreased divvy). Yes, you would have to pay the principal at some point, but you can use divvy remainder to do that plus VOO goes up roughly 10% a year, so the loan basically pays for itself (if stock market performs). That's why rich can have a cake and eat it too, lol More: https://www.wellsfargoadvisors.com/why-wells-fargo/products-services/lending/securities-based.htmYes, best rates are for those with lots of assets. Ret accounts are NOT eligible, though. Mind you, I have done nothing of the sorts so far, but I am studying the question (after Saylor's remarks). Ahh leverage, good idea, as long as markets keep going up 10% every year. How many months would it take to completely loose everything once market starts moving against you? Get triple whammy lose premium, your collateral gets reduced, and you get slammed with a tax bill once you're liquidated. Leverage is no panacea, despite what YOLO generation might say.
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Biodom
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March 14, 2021, 08:03:19 PM |
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I prefer the opposite, slowly selling my fiat in lieu of btc. Not 100% as Raoul Pal did, but close enough.
Using shitcoiner Raoul Pal as an example about what to do.. give me a fucking break. I think that he said that he moved 100% of his net worth to cryptocurrencies with 80% of it being bitcoin. Now he is a shitcoiner? Give me a break. I sure as heck would not besmirch anybody who left fiat almost entirely. Arguing about who is 100% "pure" or not is not productive. Clearly, bitcoin does not cover 100% of ALL use cases. Maybe for money, it does.
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DaRude
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In order to dump coins one must have coins
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March 14, 2021, 08:04:19 PM |
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bitcoin down over $1000! is this the start of a bear market?
Quick search of post history & I can see the username matches (I’m not sure if you belong with elite gentlemen in the WO. The Altcoin sub called, it’s missing its brokedummy). I’ve seen many of your kind come & go over the years. Trolling in this thread won’t make you happy after messing up the opportunity of the century by selling all your bitcoin too cheap & ending up as a sad, brokedummy. Well I hope ya'll are proud of yourselves. down $5000 in 6 hours, of course one more tweet and you're all rekt again. we'll see tomorrow
I sold too early on the last bull run and never got to buy the coins back.... Hi guys I also need a loan of 500$ right now through paypal
I usually reserve this for coinbase users but feels oddly appropriate here. To each his own i guess Keep going brokedummy, we're all watching you
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Biodom
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March 14, 2021, 08:06:45 PM |
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-multisnips-Biodom, it's not the first time you use the word 'bearish' to define JJG's ladder system. Why would you characterize it so?
I just do not want to criticize too much, to each their own. you would be able to borrow against btc stack, which M. Saylor keeps bringing up, but not many on WO are listening. Such loans are typically used by high net worth individuals (HNWI) against VTI, VOO, SPY, and other whole or broad market ETFs. Thank you. You got me thinking, especially about the loan thingy. I'd be glad to know more about that. Any pointers will be welcome. Fidelity: https://www.investopedia.com/fidelity-will-accept-bitcoin-collateral-for-cash-loans-5091879Basic rate is high, 4.5%, but i am sure this will go down. I would be shocked if Coinbase would not do the same soon after the IPO. Personally, i would never go above 20% LTV, maybe just 10% (in case of our typical 80% drawdown). The advantage-NO cap gains tax. In fact, maybe deductible interest (or not, hard to say) Borrowing Against securities (better rates right now): https://www.schwab.com/pledged-asset-lineLibor is 0.11%, so the best rate is 1.86%. Say, you've got, hypothetically, $10 mil of VOO. You borrow $ 3mil. Your interest (to pay) is 3000000X0.0186=$55800 yearly However, $10mil in VOO generates $152000 yearly in dividends. End result-you borrowed $3 mil to do whatever, it effectively cost you nothing (well, a decreased divvy). Yes, you would have to pay the principal at some point, but you can use divvy remainder to do that plus VOO goes up roughly 10% a year, so the loan basically pays for itself (if stock market performs). That's why rich can have a cake and eat it too, lol More: https://www.wellsfargoadvisors.com/why-wells-fargo/products-services/lending/securities-based.htmYes, best rates are for those with lots of assets. Ret accounts are NOT eligible, though. Mind you, I have done nothing of the sorts so far, but I am studying the question (after Saylor's remarks). Ahh leverage, good idea, as long as markets keep going up 10% every year. How many months would it take to completely loose everything once market starts moving against you? Get triple whammy lose premium, your collateral gets reduced, and you get slammed with a tax bill once you're liquidated. Leverage is no panacea, despite what YOLO generation might say. Duly noted, hence don't borrow 70%, borrow 10-20%. The main point is that selling the best asset in the history of earth for rapidly diminishing in buying power fiat is stupid, and I stand by that.
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nullius
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March 14, 2021, 08:06:46 PM |
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New poll: How many dollars will 0.001 BTC be worth in March of 2022?(Yes, the txid is real. Try it on any explorer.) As a cult sacrifice in memory of Lauda, I have irrevocably destroyed one satoshi. To keep the UTXO set tidy, I used OP_RETURN with a 1 sat value and a message to be seen by all auditors of Bitcoin’s monetary supply. The transaction is also a puzzle, with a prize of 0.001 BTC at the address bc1qt2mdkehmphggajer3ur3g8l754scj4fdrmw3rn. 😼Cult of Lauda Sacred Sacrificial txid:000000000fdf0c619cd8e0d512c7e2c0da5a5808e60f12f1e0d01522d2986a51 One zero nibble for each of Kitty’s nine lives!
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serveria.com
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Privacy Servers. Since 2009.
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March 14, 2021, 08:09:49 PM |
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bitcoin down over $1000! is this the start of a bear market?
Quick search of post history & I can see the username matches (I’m not sure if you belong with elite gentlemen in the WO. The Altcoin sub called, it’s missing its brokedummy). I’ve seen many of your kind come & go over the years. Trolling in this thread won’t make you happy after messing up the opportunity of the century by selling all your bitcoin too cheap & ending up as a sad, brokedummy. Well I hope ya'll are proud of yourselves. down $5000 in 6 hours, of course one more tweet and you're all rekt again. we'll see tomorrow
I sold too early on the last bull run and never got to buy the coins back.... Hi guys I also need a loan of 500$ right now through paypal
OMG this is hilarious and sad at the same time...
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AlcoHoDL
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Addicted to HoDLing!
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bitcoin down over $1000! is this the start of a bear market?
Quick search of post history & I can see the username matches (I’m not sure if you belong with elite gentlemen in the WO. The Altcoin sub called, it’s missing its brokedummy). I’ve seen many of your kind come & go over the years. Trolling in this thread won’t make you happy after messing up the opportunity of the century by selling all your bitcoin too cheap & ending up as a sad, brokedummy. Well I hope ya'll are proud of yourselves. down $5000 in 6 hours, of course one more tweet and you're all rekt again. we'll see tomorrow
I sold too early on the last bull run and never got to buy the coins back.... Hi guys I also need a loan of 500$ right now through paypal
Good find, LFC, good find. Observing those weak hands that sold their coins so low, coming over to WO to troll and play smart and know-it-all wise guys, is sad and amusing at the same time. That's why my Ignore List is, and always will be, empty. Guys like brokedummy, proudhon, r0ach, STRF, gembitz, are kind of like little clowns that cheer us up when corn is going sideways and things get a little boring. I'd say, let them troll and enjoy the show. Just don't feed them, 'cause they're going to shit on you.
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El duderino_
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BTC + Crossfit, living life.
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March 14, 2021, 08:26:05 PM |
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Nothing comes to mind No haiku inspiration I will have to pass
6 1 k dollars. Another all time high price. Next stop 7 2 k.
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nullius
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March 14, 2021, 08:27:45 PM |
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bitcoin down over $1000! is this the start of a bear market?
Quick search of post history & I can see the username matches (I’m not sure if you belong with elite gentlemen in the WO. The Altcoin sub called, it’s missing its brokedummy). Why waste time searching post history, when the lusername says it all? Other than amusement, of course.
fscking dollar bull. The dollar is up to 1671 sats, struggling to stay over the psychological 1666 sat threshold. It won’t stay up. DuPM!!!11 your dollars!
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samson
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March 14, 2021, 08:37:03 PM |
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He really gets it. Nice White-power symbol... Are you new here? That's the WO sign. Sorry I took so long to reply to the question and thanks for clarifying in my absence. I was at an outdoor party, in a group of less than 10 people, socially distancing and wearing masks while trying to eat our food before it was either blown away or frozen by the gale-force winds @ 0°C. The saddest part was watching my mom try to keep a solitary candle lit in those winds long enough for us to sing "Happy Birthday" to her before blowing it out (it was not on the cake per the covid regulations). She did not succeed and nobody was in the mood for a third attempt after rushing the song for the second attempt. As unbelievable as that sounds, you'll never guess what kind of cake mom wanted... an ice cream cake! At least we were able to take our time eating it since there was no chance of it melting until Wednesday at the earliest. I'm pretty sure the end times are near. Anyway... I should have done this in the first place: Interesting, I wonder if Proudhon is Michael Saylor
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vapourminer
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what is this "brake pedal" you speak of?
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March 14, 2021, 08:41:16 PM |
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under 60k USD.. poor again
anyone what to go in on a pallet of ramen noodles?
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Wilhelm
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March 14, 2021, 08:44:06 PM |
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He really gets it. Nice White-power symbol... Those filthy disgusting rich white nationalists. Sick to my teeth with them. When will black people finally get a chance to have a successful life?! Apparently I was wrong. Think I've been seeing too many Trump Supporters on TV throwing out that symbol. Haven't been here for quite a while... That's why I did the ... Thanks for clarifying that it is also the WO hand signal...
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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March 14, 2021, 08:45:54 PM Last edit: March 14, 2021, 08:56:34 PM by JayJuanGee |
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@JJG, Dude, now you become unhinged and it shows. Something is seriously wrong with your strategy if it causes you to run around yelling at people for no reason.
Sorry I yelled. It is not even funny despite all that exaggerated baby talk.
Oh? Maybe take a day off and recuperate, ffs? js
That's a good idea-er. You got all of this figured out. Are we in one of pseudo-stable periods for btc?
I think that a synonym would be "stalled" It is possible, but honestly, I don't get the hesitation at 58K, it's a number of no clear significance. Maybe it harks back to the 53K number, which is a $1 tril market cap. Obviously, we are over that one, but not by much.
None of them mean shit. My first quoted statement is a question with a pseudo- prefix, that's clear to anyone with a bit of reading comprehension. Second statement is a description of the current (then) action and my surprise about the numbers. The rest is a product of your active imagination and unnecessary projection. For a guy who suppose to have buying/selling all figured out (on Excel), you seem to be overly sensitive to market minutia and people's opinions about it. You are not on 10X margin, are you? That would be sad. Hehe, incredible that someone from the old guard is still sparring with the village idiot. That's worth some merits. Yes.. sure.. BIG blocker fattie wants to come and tell dee WO folks how to roll. rrrrrriiiiight. Additionally, casual pressing "I am rich as fuck"-to me this sounds somewhat cringe-worthy, maybe only if you are a Mansa Musa reincarnation, and even then, but I digress, maybe I am too old school for the TikTok/Instagram/Snapchat age. Besides, on some subreddits such claim would require mod validation. Not here, though, which does not add credibility.
some define "rich" as in net worth. and while my net worth is ok i certainly dont consider myself "rich" from a btc/fiat point of view. rich to me is good friends, good health, and a stable and safe homestead. That's what people without money say, just like people without beauty always say "beauty is on the inside" Why not both? Dude, now you become unhinged and it shows.
Nah, that's just regular ol' JJG Yep.. I did not notice any significant, material or meaningful change, either.. and furthermore, it seems a wee bit difficult to measure the level of richie at $40k versus $60k, so it is NOT like being too richie is stressing me out.. remember that expression, can never be too rich, too young or too skinny?..
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El duderino_
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BTC + Crossfit, living life.
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March 14, 2021, 08:49:46 PM Merited by sirazimuth (1) |
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Next bitcoin price milestone... age*1000....
That's gonna fall shortly for me, albeit, for most Wo Bros, that was long since broken months* ago. ....Except Jimbo.. and that will fall shortly too, no doubt, right after mine. (*or years ago in "crypto time"...and please don't bat-slap me jay, I couldn't come up with a better term....)
You are weak, weak, in terms of your lacking in abilities to choose words. Did I mention weak? ..... Well I don't see your lil selfie offering an alternative. Perhaps?... I have to say ... your artwork is a part of my living room... will post it one of the days, really really like it Again THX
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Gyrsur
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Bitcoin Legal Tender Countries: 2 of 206
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March 14, 2021, 08:52:54 PM |
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Next bitcoin price milestone... age*1000....
That's gonna fall shortly for me, albeit, for most Wo Bros, that was long since broken months* ago. ....Except Jimbo.. and that will fall shortly too, no doubt, right after mine. (*or years ago in "crypto time"...and please don't bat-slap me jay, I couldn't come up with a better term....)
You are weak, weak, in terms of your lacking in abilities to choose words. Did I mention weak? ..... Well I don't see your lil selfie offering an alternative. Perhaps?... I have to say ... your artwork is a part of my living room... will post it one of the days, really really like it Again THX Dude, I paid nothing less than you for a new page.
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Gyrsur
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March 14, 2021, 08:53:39 PM Last edit: March 14, 2021, 09:04:40 PM by Gyrsur |
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John from planet Virginia: His body did some Gain-Of-Function experiments and is now immune against all variants of the synthetic Wuhan virus.
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