Bfl asic Price BTC/USD

[Subo1977]

What do you think about USD/BTC Price after  Bfl asic arrive in the Wild ?

[purplesquid]

Blocks found per day = approx constant @ 145ish, even with ASIC, difficulty adjusts to make this the case over time.

Coins per block is halving around the same time as ASIC release. Halving the total bitcoins mined per day/week/year.

USD/BTC is a function of perceived/real market value and scarcity independant of network hashrate.

Therefore, price valuation in USD is not directly correlated with ASIC technology.

[Stephen Gornick]

What do you think about USD/BTC Price after  Bfl asic arrive in the Wild ?

Bitcoins are produced at the rate of 7,200 BTC per day, regardless of how much hashing power there is. (Well, after around December 5, it will be 3,600 per day).

The only influence on the price will probably be from mining operators (and potential mining operators) that had held off waiting to see that there really will be a BFL ASIC produced, then using their bitcoins to place orders, and thus those bitcoins flooding the market when converted by BFL back to dollars.

[dlasher]

Is there a good formula (the one on the wiki confuses me) that say "At a given overall Network Hash rate, what should the difficulty be?"

[Epoch]

Is there a good formula (the one on the wiki confuses me) that say "At a given overall Network Hash rate, what should the difficulty be?"

difficulty = 600 / (2^32 / NetworkHashRate)
or
difficulty ~= NetworkHashRate * 1.4E-07

The term '2^32/NetworkHashRate' is the expected number of seconds to find a 1-difficulty block. The bitcoin protocol stipulates that a block should be found, on average, every 600 seconds. So just take 600 seconds and divide by that number, and you'll have your required difficulty.

For example, say the overall network hashrate is 15 terahash per second. So our expected difficulty would be:

difficulty ~= 15,000,000,000,000 * 1.4E-07
difficulty = 2,100,000

And that is pretty much where we are today.

[dlasher]

For example, say the overall network hashrate is 15 terahash per second. So our expected difficulty would be:

difficulty ~= 15,000,000,000,000 * 1.4E-07
difficulty = 2,100,000

Or 15 * 14E4 = 2,100,000

Thank you.


 

[420]

how much money would government have to throw to hash bitcoins making it unprofitable for everyone? just a million?

[BR0KK]

About 6-8 Million, thats what i read (could definitely be wrong on this number!)

[Gabi]

6-8 million is for a 51% attack, wich would fuck bitcoin

[BR0KK]

jes i remember that

but how do u stop it ? after the gov does this we can just do BTC allover again ....

[420]

Insert Satoshi Meme

Why u no make more bitcoins

government takeover eazy