OK, did it - and quoted some of the following posts here, if you don't mind...
Appreciate it Hubus!
13 X is nothing to write home about. 13000x would be! 130x would be somewhat interesting. it's not groundbreaking technology. this comparison isn't that useful, POC has other aspects over POW that are more interesting.
13x means that POW will get better w.r.t. energy usage as ASIC chips get smaller. POW won't because there's no control over HDD. SSD will give it another leap since they use less energy over spinners. but again, when ssd completely replaced spinners POW chips will be much smaller and more energy efficient anyway.
POC vs POW in terms of energy usage is not a "winning" comparison.
Yeah but Bitcoin ASICs are approaching the same limit that CPUs and GPUs are at and won't keep quickly getting more energy efficient or do more calculations per dollar spent on them.
Meanwhile memristors and holographic storage is coming out soon.. and lots of different potential technologies coming in the future. Granted ferroelectric transistors also have some potential for CPUs and some other technologies there too.
Proof of Capacity energy usage compared to Proof of WorkAssume you go with the above assumption that you connect 50 hard drives to the computer, and each hard drive costs $100 each. That means $5000 worth of hard drives which uses 800 W. Now let's pick a random Bitcoin miner. The TerraMiner IV which to err on Bitcoin's side, let's say it costs $1,000 USD (I can find it on Amazon for $750 -
http://www.amazon.com/CoinTerra-Terraminer-Iv/dp/B00JK64DXA but the original price was $1,200) and uses 2.1kW .
So $5000 worth of bitcoin miners = $5000 / $1,000 = 5 machines.
5 machines equals 5* 2.1KW worth of energy = 10.5 kW.
So POW uses 10.5 kW of electricity for an equivalent investment POC uses .8 kW of electricity.
10.5/0.8 KW = 13.13 times
Which means that POW uses 13.13 more energy than POC. Went through and edited the numbers, better?
I've got some problems with the numbers, and a bigger problem with something thats been totally overlooked.
The assumption that the "average" PC uses 300W has been raised earlier, so I'll skip that - but you have "That means $5000 worth of hard drives which uses 800 W." That indicates a 16W load per drive 24*7. Looking at the specs of the drives I'm using - WD Reds - the spec sheet says 2.5 to 3.3W Idle, 3.3 - 4.5 active. Lets be generous and say that on average given the bursty nature of Burst - 4W average 24 * 7, so the assumed rate is 4x high. So actual PoW/PoC is more like 52 than 13.
The bigger issue I have is that you've only looked at cost of running the two competitors - but what about the income difference ?
Assuming those 50 HDD's are 3TB drives, we have (based on current difficulty and price)
Burst:
Income: 150TB = 28,613 Burst/Day = $12.44 /day
Cost: 0.2KW/H * 24 H * $0.12 KWH = $0.58 /day
Profit/loss:$11.86 / day
Bitcoin: Assumes 1.6TH from the Terraminer IV (Based on current difficulty / price - and BTC difficulty is increasing faster than Burst)
Income: $3.11 / TH * 8 TH = $24.88 / day
Cost: 5 * 2.1 KW/h * 24H * 0.12 KWH = $30.24
Profit/Loss: ($5.36) / day
So in PoW, with this particular miner, your ROI is .... Never. You're digging yourself deeper into a hole as soon as you turn it on. With PoC you ROI is "someday" depending on the capacity of the drives, but as long as its at least 150GB/drive - you make a profit and an ROI.
H.
Excellent points!
I think that we are talking about BTC (6 years ols) and BURST (some months old) like if they are the same. 6 year ago, you can qet a block (50BTC)/day with a computer and you dont get almost any profit (remember the pizza for 10,000BTC (
https://bitcointalksearch.org/topic/pizza-for-bitcoins-137)). That´s a pizza (40$) for more that the total daily reward (7200BTC). Nowadays, the total reward is 2,518,880 BURST/day, that is about 1,000$.
So, we all are talking of differents things. BTC was a fairy distribution on early ages, like BUSRT, but as soon as it achieve value it become less fairy.
Let´s hope that BURST ditribution will become unfairy, because that will be good for BURST.