MoneyButton impl in Telescope wallet
https://youtu.be/GFrWktc5p1g
Topic: [ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees - page 178. (Read 704529 times)
https://www.merkle.press/2018/05/bitcoin-price-has-hypothetical-value-of.html
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).
I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).
I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )
The energy is obviously not the only cost of mining, so his hypothetical value is far from realistic.
To mine 1 BTC with 1 Antminer S9 one needs 1223 days at constant (=current) difficulty.
The energy used during that time would be ~40k kWh (cost ~ $2000 at $0.05 per kWh).
S9 price is ~$900-1000, so energy + miner would be $3000, and then there're other costs, like employees, buildings, HVAC, repairs, etc.
However for industrial scale miners, its not, its alot cheaper.
They buy asics in bulk and get cheaper elec, leading to huge savings.
Also the producers of asics are always ahead.
While average miners use s9, the asic producers will be using "testing" s10 and be creating s11 always remain a few steps ahead of the rest.
Probably true about the equipment prices, but energy at $0.05 is rather low... at least for US and EU, not sure about China and far east in general.
Also, for the average consumer grade miner there're no additional costs of large buildings, HVAC installations and employees, so the costs aren't much different imo.
I think we can agree the price to mine 1og btc is between $2k - $3500 , def not the $8k some places have been reporting.
Lets say $2700 is an average price ...that price will 100% happen for og btc and
then more panic dumping can take its price lower than $2k, imo
I wonder if Jihan or some other big mining group will tell us the cost for them to mine 1og btc.
Yes, your average is plausible, and... No, I doubt big miners will ever disclose their costs
BTI vs. BCH flippening occuring ~ more miners switching to Instantcoin
weeee====>
http://abe.getbitcoininstant.org:2750/chain/Instant
https://freiexchange.com/market/BTI/BTC
I think the 0.08 BTC daily volume says otherwise. Ive seen more volume at a lemonade stand.
watch as BTI goes higher while fake satoshi and roger ver circle jerk BCH to zer00000000
weeee
So whether bitcoin cash will get worse after seeing the bitcoin charts are getting degenerate, let alone the weekly chart will be formed soon and it is not easy.
Watched a recent Max keiser episode ...
He and Stacy both were so keen to point out censorship resistant social media ...
Max says he knows two twitter competitors on bitcoin..(memo,blockpress)...
but both failed to mention the censorship on og btc
and the censorship resistant social media platforms are on Bitcoin(BCH)
Please max,stacy , you maybe trying to avoid taking sides, but you are confusing newbies..
dont mislead your viewers into buying Bitcoin(btc) thinking that they can use these new censorship resistant platforms,
when you clearly know they are for BCH..
https://www.youtube.com/watch?v=bKsPhtSjcuU - talks around 5min in.
Its all in the ticker...
2 Bitcoins..
BTC - old limited tech, no dapps
BCH - new evolving tech , lots of dapps
Simple
He and Stacy both were so keen to point out censorship resistant social media ...
Max says he knows two twitter competitors on bitcoin..(memo,blockpress)...
but both failed to mention the censorship on og btc
and the censorship resistant social media platforms are on Bitcoin(BCH) Please max,stacy , you maybe trying to avoid taking sides, but you are confusing newbies..
dont mislead your viewers into buying Bitcoin(btc) thinking that they can use these new censorship resistant platforms,
when you clearly know they are for BCH..
https://www.youtube.com/watch?v=bKsPhtSjcuU - talks around 5min in.
Its all in the ticker...
2 Bitcoins..
BTC - old limited tech, no dapps
BCH - new evolving tech , lots of dapps
Simple
https://www.merkle.press/2018/05/bitcoin-price-has-hypothetical-value-of.html
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).
I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).
I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )
The energy is obviously not the only cost of mining, so his hypothetical value is far from realistic.
To mine 1 BTC with 1 Antminer S9 one needs 1223 days at constant (=current) difficulty.
The energy used during that time would be ~40k kWh (cost ~ $2000 at $0.05 per kWh).
S9 price is ~$900-1000, so energy + miner would be $3000, and then there're other costs, like employees, buildings, HVAC, repairs, etc.
However for industrial scale miners, its not, its alot cheaper.
They buy asics in bulk and get cheaper elec, leading to huge savings.
Also the producers of asics are always ahead.
While average miners use s9, the asic producers will be using "testing" s10 and be creating s11 always remain a few steps ahead of the rest.
Probably true about the equipment prices, but energy at $0.05 is rather low... at least for US and EU, not sure about China and far east in general.
Also, for the average consumer grade miner there're no additional costs of large buildings, HVAC installations and employees, so the costs aren't much different imo.
I think we can agree the price to mine 1og btc is between $2k - $3500 , def not the $8k some places have been reporting.
Lets say $2700 is an average price ...that price will 100% happen for og btc and
then more panic dumping can take its price lower than $2k, imo
I wonder if Jihan or some other big mining group will tell us the cost for them to mine 1og btc.
Yes, your average is plausible, and... No, I doubt big miners will ever disclose their costs
I know its from crazy John lols but here is a recent comment(dec2017) from him regarding cost to mine a btc..
John McAfee
@officialmcafee
Replying to @MusicalKasparov
The coin itself us a product costing $2,000 to make. https://twitter.com/officialmcafee/status/938953574729637889?lang=en
https://www.merkle.press/2018/05/bitcoin-price-has-hypothetical-value-of.html
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).
I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).
I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )
The energy is obviously not the only cost of mining, so his hypothetical value is far from realistic.
To mine 1 BTC with 1 Antminer S9 one needs 1223 days at constant (=current) difficulty.
The energy used during that time would be ~40k kWh (cost ~ $2000 at $0.05 per kWh).
S9 price is ~$900-1000, so energy + miner would be $3000, and then there're other costs, like employees, buildings, HVAC, repairs, etc.
However for industrial scale miners, its not, its alot cheaper.
They buy asics in bulk and get cheaper elec, leading to huge savings.
Also the producers of asics are always ahead.
While average miners use s9, the asic producers will be using "testing" s10 and be creating s11 always remain a few steps ahead of the rest.
Probably true about the equipment prices, but energy at $0.05 is rather low... at least for US and EU, not sure about China and far east in general.
Also, for the average consumer grade miner there're no additional costs of large buildings, HVAC installations and employees, so the costs aren't much different imo.
I think we can agree the price to mine 1og btc is between $2k - $3500 , def not the $8k some places have been reporting.
Lets say $2700 is an average price ...that price will 100% happen for og btc and
then more panic dumping can take its price lower than $2k, imo
I wonder if Jihan or some other big mining group will tell us the cost for them to mine 1og btc.
Yes, your average is plausible, and... No, I doubt big miners will ever disclose their costs
BTI vs. BCH flippening occuring ~ more miners switching to Instantcoin
weeee====>
http://abe.getbitcoininstant.org:2750/chain/Instant
https://freiexchange.com/market/BTI/BTC
I think the 0.08 BTC daily volume says otherwise. Ive seen more volume at a lemonade stand.
https://www.merkle.press/2018/05/bitcoin-price-has-hypothetical-value-of.html
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).
I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).
I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )
The energy is obviously not the only cost of mining, so his hypothetical value is far from realistic.
To mine 1 BTC with 1 Antminer S9 one needs 1223 days at constant (=current) difficulty.
The energy used during that time would be ~40k kWh (cost ~ $2000 at $0.05 per kWh).
S9 price is ~$900-1000, so energy + miner would be $3000, and then there're other costs, like employees, buildings, HVAC, repairs, etc.
However for industrial scale miners, its not, its alot cheaper.
They buy asics in bulk and get cheaper elec, leading to huge savings.
Also the producers of asics are always ahead.
While average miners use s9, the asic producers will be using "testing" s10 and be creating s11 always remain a few steps ahead of the rest.
Probably true about the equipment prices, but energy at $0.05 is rather low... at least for US and EU, not sure about China and far east in general.
Also, for the average consumer grade miner there're no additional costs of large buildings, HVAC installations and employees, so the costs aren't much different imo.
I think we can agree the price to mine 1og btc is between $2k - $3500 , def not the $8k some places have been reporting.
Lets say $2700 is an average price ...that price will 100% happen for og btc and
then more panic dumping can take its price lower than $2k, imo
I wonder if Jihan or some other big mining group will tell us the cost for them to mine 1og btc.
Yes, your average is plausible, and... No, I doubt big miners will ever disclose their costs
BTI vs. BCH flippening occuring ~ more miners switching to Instantcoin
weeee====>
http://abe.getbitcoininstant.org:2750/chain/Instant
https://freiexchange.com/market/BTI/BTC
As time goes on mining hardware effectiveness increase and energy consumption will decrease. And more hardware companies will enter mining industry which is good for consumers. More countries will offer discounts which should encourage big mining companies to start businesses in those countries.
Perhaps Bitcoin and other proof-of-work algorithms were created not only for global monetary decentralisation but also to encourage the use of alternative energy in financial production 
https://www.merkle.press/2018/05/bitcoin-price-has-hypothetical-value-of.html
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).
I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).
I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )
The energy is obviously not the only cost of mining, so his hypothetical value is far from realistic.
To mine 1 BTC with 1 Antminer S9 one needs 1223 days at constant (=current) difficulty.
The energy used during that time would be ~40k kWh (cost ~ $2000 at $0.05 per kWh).
S9 price is ~$900-1000, so energy + miner would be $3000, and then there're other costs, like employees, buildings, HVAC, repairs, etc.
However for industrial scale miners, its not, its alot cheaper.
They buy asics in bulk and get cheaper elec, leading to huge savings.
Also the producers of asics are always ahead.
While average miners use s9, the asic producers will be using "testing" s10 and be creating s11 always remain a few steps ahead of the rest.
Probably true about the equipment prices, but energy at $0.05 is rather low... at least for US and EU, not sure about China and far east in general.
Also, for the average consumer grade miner there're no additional costs of large buildings, HVAC installations and employees, so the costs aren't much different imo.
I think we can agree the price to mine 1og btc is between $2k - $3500 , def not the $8k some places have been reporting.
Lets say $2700 is an average price ...that price will 100% happen for og btc and
then more panic dumping can take its price lower than $2k, imo
I wonder if Jihan or some other big mining group will tell us the cost for them to mine 1og btc.
Yes, your average is plausible, and... No, I doubt big miners will ever disclose their costs
https://www.merkle.press/2018/05/bitcoin-price-has-hypothetical-value-of.html
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).
I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).
I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )
The energy is obviously not the only cost of mining, so his hypothetical value is far from realistic.
To mine 1 BTC with 1 Antminer S9 one needs 1223 days at constant (=current) difficulty.
The energy used during that time would be ~40k kWh (cost ~ $2000 at $0.05 per kWh).
S9 price is ~$900-1000, so energy + miner would be $3000, and then there're other costs, like employees, buildings, HVAC, repairs, etc.
However for industrial scale miners, its not, its alot cheaper.
They buy asics in bulk and get cheaper elec, leading to huge savings.
Also the producers of asics are always ahead.
While average miners use s9, the asic producers will be using "testing" s10 and be creating s11 always remain a few steps ahead of the rest.
Probably true about the equipment prices, but energy at $0.05 is rather low... at least for US and EU, not sure about China and far east in general.
Also, for the average consumer grade miner there're no additional costs of large buildings, HVAC installations and employees, so the costs aren't much different imo.
I think we can agree the price to mine 1og btc is between $2k - $3500 , def not the $8k some places have been reporting.
Lets say $2700 is an average price ...that price will 100% happen for og btc and
then more panic dumping can take its price lower than $2k, imo
I wonder if Jihan or some other big mining group will tell us the cost for them to mine 1og btc.
^ Hi E
Whats your thoughts on this?
also another sad day from blockstreamcore rep Mow....
https://twitter.com/Excellion/status/998762417470373888
Collecting some gems for @SEC_Enforcement @SEC_News to take a closer look at @CNBCFastMoney @CNBC pumping and dumping altcoins on their viewers. Enough is enough. If you have more tweets, post below and I’ll add them to the Moment. ⚖️
Whats your thoughts on this?
also another sad day from blockstreamcore rep Mow....
https://twitter.com/Excellion/status/998762417470373888
Collecting some gems for @SEC_Enforcement @SEC_News to take a closer look at @CNBCFastMoney @CNBC pumping and dumping altcoins on their viewers. Enough is enough. If you have more tweets, post below and I’ll add them to the Moment. ⚖️
https://www.merkle.press/2018/05/bitcoin-price-has-hypothetical-value-of.html
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).
Hmm. Central banker misunderstands where the value of a currency comes from. Defines it in terms of trade balances between nations. Yet in a frictionless environment, it will not be the 'nations' that choose their adopted currency. It will be the people therein.
Personally, once most people understand the nature of a currency that cannot be inflated upon a whim, I belive they will choose such an immutable currency.
Which bodes poorly for his position.
Lastly, if he wants to ascribe correspondence between currency and 'nation', then fine. We are the nation named Internet. Deal with that, central banker dude.
I believe it was the central bankers that made og btc so over priced in the first place.
(Davos ,world economic forum 2016 is where it began, btc price was around $500 , they were buying a few month before , around Nov2015 before the forum in 2016 at around $250)
Its very easy for them to scare away people from crypto(short term) by causing huge price manipulation...making fiat seem like the safer choice.
this is the critical discussion.
Bitcoin Cash as a whole, it is still the advantage of the air force. Although BCH is worth holding for a long time, it is not the best time to buy it. Learn to wait.
https://www.merkle.press/2018/05/bitcoin-price-has-hypothetical-value-of.html
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).
I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).
I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )
The energy is obviously not the only cost of mining, so his hypothetical value is far from realistic.
To mine 1 BTC with 1 Antminer S9 one needs 1223 days at constant (=current) difficulty.
The energy used during that time would be ~40k kWh (cost ~ $2000 at $0.05 per kWh).
S9 price is ~$900-1000, so energy + miner would be $3000, and then there're other costs, like employees, buildings, HVAC, repairs, etc.
However for industrial scale miners, its not, its alot cheaper.
They buy asics in bulk and get cheaper elec, leading to huge savings.
Also the producers of asics are always ahead.
While average miners use s9, the asic producers will be using "testing" s10 and be creating s11 always remain a few steps ahead of the rest.
Probably true about the equipment prices, but energy at $0.05 is rather low... at least for US and EU, not sure about China and far east in general.
Also, for the average consumer grade miner there're no additional costs of large buildings, HVAC installations and employees, so the costs aren't much different imo.
anybody else bank on that fat finger a few hours ago
ca...ching
ca...ching
Shouldn't both move up with btc??? At least thats what happened historically OR bth makes its run after.
Think most altcoins follows bitcoin price, Bcash and most other alcoins, in bear/bull markets. Thus, lets hope of btc price to gradually increase over time
Shouldn't both move up with btc??? At least thats what happened historically OR bth makes its run after.
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