Gold collapsing. Bitcoin UP.

[cypherdoc]

Anyone care to guess where this guy got the number of 6000x the top 500 supercomputers in the world?

http://bitcoinmagazine.com/13258/twenty-mind-bending-secrets-bitcoin/

[1713999151]

1713999151

[1713999151]

1713999151

[1713999151]

1713999151

[wachtwoord]

One Hundred Million Giga Hash per Second! Holy mother of god!

This is actually a really interesting benchmark. I'd say the network is *approaching* secure. Another 10x-100x and I might be willing to call it.

100 PH is interesting because that's about what the NSA's new 60MW datacenter in Utah could generate if you fill the whole thing with 0.5W/GH ASICs.

Obviously they're going to have to non-public datacenters that are likely a good deal larger, but still...the above observation shows that the network really is achieving a scale that's nearing real security.


Sidenote: the growth-rate this past year has been astonishing. I recall when I first made the above calc, I thought it'd be years before we got here. Bitcoin's growth continues to impress me.

oakpacific made a really good point once that the real point of network security will be when a single geographic location cannot supply an equivalent amount of electricity to power an attackers needs to match that of the Bitcoin network. 

How about both with different levels of security.

[sgbett]

One Hundred Million Giga Hash per Second! Holy mother of god!

Only a mere 0.1 ExaHash

[wachtwoord]

One Hundred Million Giga Hash per Second! Holy mother of god!

Only a mere 0.1 ExaHash

Mine sounds cooler. You gotta know how to market it

Wow that really doesn't sound like me. I'm actually really really impressed.

[NewLiberty]

One Hundred Million Giga Hash per Second! Holy mother of god!

This is actually a really interesting benchmark. I'd say the network is *approaching* secure. Another 10x-100x and I might be willing to call it.

100 PH is interesting because that's about what the NSA's new 60MW datacenter in Utah could generate if you fill the whole thing with 0.5W/GH ASICs.

Obviously they're going to have to non-public datacenters that are likely a good deal larger, but still...the above observation shows that the network really is achieving a scale that's nearing real security.


Sidenote: the growth-rate this past year has been astonishing. I recall when I first made the above calc, I thought it'd be years before we got here. Bitcoin's growth continues to impress me.

The decentralization of the hashing is another issue.
Otherwise folks wouldn't care about the NSA so much in the first place.

[cypherdoc]

Sharpening my short stick...

[RandomPedestrianN9]

Sharpening my short stick...

Careful, the blind fanboys here might burn you alive for speaking freely like that.

[cypherdoc]

Expedia will soon be selling tickets to the Moon.

[tvbcof]

Now this is what I call growth.  Even bacteria in a petri dish pales in comparison:

https://i.imgur.com/fc9KX2F.png

http://bitcoin.sipa.be/growth.png

Growth is constantly decreasing, miners are getting squeezed. That petri dish just doesn't have much nutrients left.

I remember back in 2013-ish, some goob had some cockamamie theory about the relationship between hash rate and BTC valuations.

"I pity da' foo" who listened to that nonsense and executed on it thus-far in 2014.

[cypherdoc]

""Many hard-currency loyalists who sought refuge to the safety of gold out of protest against central banks' erosion of currency value are now fleeing to bitcoin," Ashraf Laidi wrote in a recent client note."

becoming Top-of-Mind.

http://www.cnbc.com/id/101750703

[cypherdoc]

Now this is what I call growth.  Even bacteria in a petri dish pales in comparison:

https://i.imgur.com/fc9KX2F.png

http://bitcoin.sipa.be/growth.png

Growth is constantly decreasing, miners are getting squeezed. That petri dish just doesn't have much nutrients left.

I remember back in 2013-ish, some goob had some cockamamie theory about the relationship between hash rate and BTC valuations.

"I pity da' foo" who listened to that nonsense and executed on it thus-far in 2014.

if they've followed that theory since 2011, they've done great.

[cypherdoc]

Technology on fire:

Uber's sign-ups jump 850% after strike 'own goal'

http://www.cnbc.com/id/101749499

[cypherdoc]

"Keep pushing everyone, we are having a major impact."

http://libertyblitzkrieg.com/2014/06/11/the-obama-administration-is-trying-to-cover-up-the-va-scandal-by-issuing-subpoenas-to-whistle-blower-sites/

[tvbcof]

I just heard that some Gigagold.io I think it was is on the cusp of being big enough to trans-mutate everyone's physical gold hoard locked in their safe deposit box into lead.  Through the magic of quantum electrodynamics one supposes.

I may have some of the details about this wrong...like asset or something.

[cypherdoc]

"Well, for all taxi drivers stuck in the middle ages, we have good news: in this day and age, in which every government is seeking to tax, and otherwise extract pounds, and tons if possible, of flesh from anything that generates any cash flows, it is only a matter of time before Uber too succumbs to one then another, then a third corrupt official working for that multi-headed hydra which merely takes and never gives: the local government. "

http://www.zerohedge.com/news/2014-06-11/wasnt-supposed-happen-european-cab-protests-lead-850-increase-new-uber-users

Until, or unless, they accept Bitcoin.

[cypherdoc]

godd*mn.  one frickin year?:

"In other words, if you have a checking account in Georgia that you haven’t touched in twelve months, the state government is going to grab it."

http://www.zerohedge.com/news/2014-06-11/introducing-latest-tactic-governments-raise-cash

gold can't avoid this type of confiscation either for those with significant stores that need to hold it in institutions.

[bitcoinsrus]

thanks for all the links cypher, i learned a lot from your articles (uber etc)

[cypherdoc]

Expedia will soon be selling tickets to the Moon.

"Other Expedia booking services such as cars and airplane flights will be get (-ing) Bitcoin support later, said Michael Gulmann, Expedia's vice president of global product."

http://www.cnet.com/news/expedia-embraces-and-legitimizes-bitcoin/

[molecular]

One Hundred Million Giga Hash per Second! Holy mother of god!

In awe we stare at the monster we created.

[cypherdoc]

Bitcoin is ideal money for the smartphone.

http://techpinions.com/man-with-a-smartphone/31466

And now, with Mycelium cold storage, there's really no excuse.