VolanicEruptor (OP)
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December 14, 2013, 12:47:31 AM |
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8000KW (present) 16000KW (in 2 months) 32000KW (in 3 months) 64000KW (in 4 months) 128000KW (in 5 months) 256000KW (in 6 months) 512000KW (in 7 months) 1GW (in 8 months) 2GW (in 9 months) 4GW (in 10 months) 8GW (in 11 months) 16GW (in 12 months) 32GW (in 13 months) 64GW (in 14 months)
So , let;s assume we have 8000TH , that's 4000 Cointerras 8000KW (present) need to add another 4000 16000KW (in 2 months) 8000 32000KW (in 3 months) 16000 64000KW (in 4 months) 32000 128000KW (in 5 months) 64000 256000KW (in 6 months) 128000 512000KW (in 7 months) 256000 1GW (in 8 months) 512000 2GW (in 9 months) 1024000 4GW (in 10 months) 2M 8GW (in 11 months) 4M 16GW (in 12 months) 8M 32GW (in 13 months) 16M 64GW (in 14 months) 32M So , in one month we'll have to produce 32 millions cointerra miners or equivalent. I see a problem here. Cause that's the amount of Iphones Apple sells in 4 months. yes obviously it's not possible to double forever.. eventually we will either run out of energy or material. Either way it's not good..
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stompix
Legendary
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Leading Crypto Sports Betting & Casino Platform
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December 14, 2013, 12:57:26 AM |
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8000KW (present) 16000KW (in 2 months) 32000KW (in 3 months) 64000KW (in 4 months) 128000KW (in 5 months) 256000KW (in 6 months) 512000KW (in 7 months) 1GW (in 8 months) 2GW (in 9 months) 4GW (in 10 months) 8GW (in 11 months) 16GW (in 12 months) 32GW (in 13 months) 64GW (in 14 months)
So , let;s assume we have 8000TH , that's 4000 Cointerras 8000KW (present) need to add another 4000 16000KW (in 2 months) 8000 32000KW (in 3 months) 16000 64000KW (in 4 months) 32000 128000KW (in 5 months) 64000 256000KW (in 6 months) 128000 512000KW (in 7 months) 256000 1GW (in 8 months) 512000 2GW (in 9 months) 1024000 4GW (in 10 months) 2M 8GW (in 11 months) 4M 16GW (in 12 months) 8M 32GW (in 13 months) 16M 64GW (in 14 months) 32M So , in one month we'll have to produce 32 millions cointerra miners or equivalent. I see a problem here. Cause that's the amount of Iphones Apple sells in 4 months. yes obviously it's not possible to double forever.. eventually we will either run out of energy or material. Either way it's not good.. I'm a bit tired but let's give it a try: 8000 kw should be 19 000 usd. nice cost /block reward 8MW/20000 USD , that would lead to 64GW 160 millions cost/ day. Well , just to cover the cost 1 bitcoin should be worth 50 000. And this if forgetting about the cost of equipment. And the halving in the next years. I don't see a problem with electricity cost at all. Again , maybe I made a mistake with the cost but still...
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
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hmmkay
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December 14, 2013, 01:01:24 AM |
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Die-shrink of chips also brings better power efficiency. So it won't be doubled constantly.
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VolanicEruptor (OP)
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December 14, 2013, 01:03:11 AM |
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8000KW (present) 16000KW (in 2 months) 32000KW (in 3 months) 64000KW (in 4 months) 128000KW (in 5 months) 256000KW (in 6 months) 512000KW (in 7 months) 1GW (in 8 months) 2GW (in 9 months) 4GW (in 10 months) 8GW (in 11 months) 16GW (in 12 months) 32GW (in 13 months) 64GW (in 14 months)
So , let;s assume we have 8000TH , that's 4000 Cointerras 8000KW (present) need to add another 4000 16000KW (in 2 months) 8000 32000KW (in 3 months) 16000 64000KW (in 4 months) 32000 128000KW (in 5 months) 64000 256000KW (in 6 months) 128000 512000KW (in 7 months) 256000 1GW (in 8 months) 512000 2GW (in 9 months) 1024000 4GW (in 10 months) 2M 8GW (in 11 months) 4M 16GW (in 12 months) 8M 32GW (in 13 months) 16M 64GW (in 14 months) 32M So , in one month we'll have to produce 32 millions cointerra miners or equivalent. I see a problem here. Cause that's the amount of Iphones Apple sells in 4 months. yes obviously it's not possible to double forever.. eventually we will either run out of energy or material. Either way it's not good.. I'm a bit tired but let's give it a try: 8000 kw should be 19 000 usd. nice cost /block reward 8MW/20000 USD , that would lead to 64GW 160 millions cost/ day. Well , just to cover the cost 1 bitcoin should be worth 50 000. And this if forgetting about the cost of equipment. And the halving in the next years. I don't see a problem with electricity cost at all. Again , maybe I made a mistake with the cost but still... 64GW/hour.. not day.. and even if there is no problem, what about when its 128GW, then 256GW, then 512GW?? don't stop there..
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VolanicEruptor (OP)
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December 14, 2013, 01:04:48 AM |
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Die-shrink of chips also brings better power efficiency. So it won't be doubled constantly.
So if we increase the power efficiency by 8x, then that delays this scenerio by 4 months.. like i said, our efficiency has not been keeping up with the growth
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pontiacg5
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December 14, 2013, 01:09:48 AM |
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Assuming the ridiculous assumption that it were possible for difficulty to keep climbing like it is, eventually the power companies would have to charge more for power. They'd be able to justify the increase with expenses for added capacity. Maybe bitcoin will force the upgrade our US electrical grid apparently needs.
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Please DO NOT send me private messages asking for help setting up GPU miners. I will not respond!!!
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stompix
Legendary
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Activity: 3010
Merit: 6561
Leading Crypto Sports Betting & Casino Platform
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December 14, 2013, 01:10:21 AM |
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8000KW (present) 16000KW (in 2 months) 32000KW (in 3 months) 64000KW (in 4 months) 128000KW (in 5 months) 256000KW (in 6 months) 512000KW (in 7 months) 1GW (in 8 months) 2GW (in 9 months) 4GW (in 10 months) 8GW (in 11 months) 16GW (in 12 months) 32GW (in 13 months) 64GW (in 14 months)
So , let;s assume we have 8000TH , that's 4000 Cointerras 8000KW (present) need to add another 4000 16000KW (in 2 months) 8000 32000KW (in 3 months) 16000 64000KW (in 4 months) 32000 128000KW (in 5 months) 64000 256000KW (in 6 months) 128000 512000KW (in 7 months) 256000 1GW (in 8 months) 512000 2GW (in 9 months) 1024000 4GW (in 10 months) 2M 8GW (in 11 months) 4M 16GW (in 12 months) 8M 32GW (in 13 months) 16M 64GW (in 14 months) 32M So , in one month we'll have to produce 32 millions cointerra miners or equivalent. I see a problem here. Cause that's the amount of Iphones Apple sells in 4 months. yes obviously it's not possible to double forever.. eventually we will either run out of energy or material. Either way it's not good.. I'm a bit tired but let's give it a try: 8000 kw should be 19 000 usd. nice cost /block reward 8MW/20000 USD , that would lead to 64GW 160 millions cost/ day. Well , just to cover the cost 1 bitcoin should be worth 50 000. And this if forgetting about the cost of equipment. And the halving in the next years. I don't see a problem with electricity cost at all. Again , maybe I made a mistake with the cost but still... 64GW/hour.. not day.. and even if there is no problem, what about when its 128GW, then 256GW, then 512GW?? don't stop there.. Yeah , 64GW/hour will end up costing you 160millions daily. If we have a consumption of 512GW it's gonna be 1280 millions , 1.2 billion. Let's watch the picture in a few years , block reward halved twice. The reward is only 1000 day. one bitcoin should be worth 1 million dollars to sustain only the electricity cost and almost 2.5 millions to cover the expenses with the equipment. You see now the problem with this ?
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
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VolanicEruptor (OP)
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December 14, 2013, 01:19:59 AM |
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bitcoin mining will become illegal in most countries because of ridiculous waste of resources and power and this post will be part of the history books thank you
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porc
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December 14, 2013, 01:24:04 AM |
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bitcoin mining will become illegal in most countries because of ridiculous waste of resources and power and this post will be part of the history books thank you So let me get this right: If more people mine bitcoins difficulty increases and thus energy consumption. If energy consumption increases due to more people mining without a price increase, people will stop mining. Thus, you are assuming that the price continues to go up to justify this energy consumption, which it wont.
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stompix
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December 14, 2013, 01:25:31 AM |
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bitcoin mining will become illegal in most countries because of ridiculous waste of resources and power and this post will be part of the history books thank you .. in the section , worst predictions ever? http://shareranks.com/499,The-Worst-Predictions-EverPick your place
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
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VolanicEruptor (OP)
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December 14, 2013, 01:28:44 AM |
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bitcoin mining will become illegal in most countries because of ridiculous waste of resources and power and this post will be part of the history books thank you So let me get this right: If you more people mine bitcoins difficulty increases and thus energy consumption. If energy consumption increases due to more people mining without a price increase, people will stop mining. Thus, you are assuming that the price continues to go up to justify this energy consumption, which it wont. people won't stop mining though if the bitcoin price keeps going up. if we see a $100,000 bitcoin, we're in big trouble with everybody raping energy resources to mine
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arkintunde
Newbie
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December 14, 2013, 01:37:46 AM |
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So , in one month we'll have to produce 32 millions cointerra miners or equivalent. I see a problem here. Cause that's the amount of Iphones Apple sells in 4 months.
Lol, good point. This will not be happening.
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porc
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December 14, 2013, 01:38:09 AM |
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bitcoin mining will become illegal in most countries because of ridiculous waste of resources and power and this post will be part of the history books thank you So let me get this right: If you more people mine bitcoins difficulty increases and thus energy consumption. If energy consumption increases due to more people mining without a price increase, people will stop mining. Thus, you are assuming that the price continues to go up to justify this energy consumption, which it wont. people won't stop mining though if the bitcoin price keeps going up. if we see a $100,000 bitcoin, we're in big trouble with everybody raping energy resources to mine So your scenario assumes, a $ 100.000 price tag. LOL. If energy costs are unsustainable, so is Bitcoin. Thus we would never see this price.
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VolanicEruptor (OP)
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December 14, 2013, 01:41:38 AM |
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bitcoin mining will become illegal in most countries because of ridiculous waste of resources and power and this post will be part of the history books thank you So let me get this right: If you more people mine bitcoins difficulty increases and thus energy consumption. If energy consumption increases due to more people mining without a price increase, people will stop mining. Thus, you are assuming that the price continues to go up to justify this energy consumption, which it wont. people won't stop mining though if the bitcoin price keeps going up. if we see a $100,000 bitcoin, we're in big trouble with everybody raping energy resources to mine So your scenario assumes, a $ 100.000 price tag. LOL. If energy costs are unsustainable, so is Bitcoin. Thus we would never see this price. I believe we would run out of resources before finding out that it is "unsustainable"
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EvilPanda
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December 14, 2013, 01:41:53 AM |
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bitcoin mining will become illegal in most countries because of ridiculous waste of resources and power and this post will be part of the history books thank you .. in the section , worst predictions ever? http://shareranks.com/499,The-Worst-Predictions-EverPick your place Few years later: Top voted worst prediction ever by VolanicEruptor, a bitcointalk forum user, December 2013.
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VolanicEruptor (OP)
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December 14, 2013, 01:43:03 AM |
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Give it a few years. You'll see..
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stompix
Legendary
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December 14, 2013, 01:44:26 AM |
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Give it a few years. You'll see..
You know , since the amount of bitcoins per block , mined as a reward will be halving , time is not quite your ally.
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
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porc
Member
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Activity: 98
Merit: 10
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December 14, 2013, 01:46:08 AM |
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bitcoin mining will become illegal in most countries because of ridiculous waste of resources and power and this post will be part of the history books thank you So let me get this right: If you more people mine bitcoins difficulty increases and thus energy consumption. If energy consumption increases due to more people mining without a price increase, people will stop mining. Thus, you are assuming that the price continues to go up to justify this energy consumption, which it wont. people won't stop mining though if the bitcoin price keeps going up. if we see a $100,000 bitcoin, we're in big trouble with everybody raping energy resources to mine So your scenario assumes, a $ 100.000 price tag. LOL. If energy costs are unsustainable, so is Bitcoin. Thus we would never see this price. I believe we would run out of resources before finding out that it is "unsustainable" LOL. If your energy cost assumptions are correct, bitcoins price will collapse, as market participants will realize that the system is unsustainable. Its absurd to imply, that you are the only one who would figure this out.
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VolanicEruptor (OP)
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December 14, 2013, 01:57:53 AM |
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what do you call a collapse though? from $100,000 down to $10,000?
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pontiacg5
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December 14, 2013, 02:00:16 AM |
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what do you call a collapse though? from $100,000 down to $10,000? Where did $10,000 come from, or $100,000 for that matter? You do realize there is no guarantee bitcoin is to continue increasing in value, right? Likewise there is no reason bitcoin can't be successful without being $100,000?
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Please DO NOT send me private messages asking for help setting up GPU miners. I will not respond!!!
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