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Author Topic: What happens if this hardware crunch keeps going?  (Read 1123 times)
AverageJoe
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May 25, 2011, 10:26:38 PM
 #1

Hello, new member/first post, etc.,

So from all indications I've read, this ever-faster speeding treadmill with hardware will not slow down, but rather expand exponentially.

This is disturbing me because only super farms will be able to make any kind of money out of it and generally seems like a pointless waste of good computing if trends continue.

Either that, or some kind of a plateau will happen, or there just won't be enough computing power around that people will feel comfortable investing in.

Shit, whatever...I guess I might hang around til' the ship sinks. I might be surprised as to what trick someone has up their sleeve.

-Joe
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MoonShadow
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May 25, 2011, 10:29:16 PM
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The miners are responding to the rise in the market price of Bitcoin.  If the price stalls, so will the rise in difficulty.  If the price falls, the difficulty will slowly drop off to meet it.  Changes in difficulty tend to follow changes in price with a 6 week lag.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
EPiSKiNG
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May 26, 2011, 01:11:31 AM
 #3

The miners are responding to the rise in the market price of Bitcoin.  If the price stalls, so will the rise in difficulty.  If the price falls, the difficulty will slowly drop off to meet it.  Changes in difficulty tend to follow changes in price with a 6 week lag.

Check this out:  http://forum.bitcoin.org/index.php?topic=7427.0

It seems as though the price per BTC in USD tends to follow the difficulty with an upward trend...  Granted, the most recent difficulty changes (ie, past 30 days) have been pretty steep, the price seems to have a higher rate of trend than the difficulty in these peak times, so I'll mine until the cost outweighs the benefits, or the value of the hardware changes.

-EP

YOU CAN TRUST ME! EPiSKiNG-'s COINS!! BUYING / SELLING BTC - USA --- View my OTC Trading Feedback!!
<gribble> You are identified as user EPiSKiNG-, with GPG key id 721730127CD7574D, key fingerprint EBFC267F8F10EFD1FB84854D721730127CD7574D, and bitcoin address 1EPiSKiNG139bzcwTm8rxMFNfFFdanLW5K
marcus_of_augustus
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May 26, 2011, 01:20:03 AM
 #4


Open-loop feedback ... this thing is out of control!!!!!!

It's gonna consume all the computing resources on the planet and then eat the moon and the sun ... and then what will happen to carbon emission, huh? Have you thought about that?

Most likely it is gonna get so big no-one's gonna fuck with it .... which was the intention methinks.

epi 1:10,000
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May 26, 2011, 01:22:44 AM
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Open-loop feedback ... this thing is out of control!!!!!!

It's gonna consume all the computing resources on the planet and then eat the moon and the sun ... and then what will happen to carbon emission, huh? Have you thought about that?

Most likely it is gonna get so big no-one's gonna fuck with it .... which was the intention methinks.
"Kill all humans!!!!!" -Bender
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