AM has a new account to follow: ASICMiner-PR
FRIEDCAT IS ALIVE!!!!!!
yes with some excellent news!!!!... ?
Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 693. (Read 3917635 times)
September 21, 2013, 09:31:27 AM
AM has a new account to follow: ASICMiner-PR
FRIEDCAT IS ALIVE!!!!!!
yes with some excellent news!!!!... ?
September 21, 2013, 08:52:03 AM
AM has a new account to follow: ASICMiner-PR
FRIEDCAT IS ALIVE!!!!!!
September 21, 2013, 08:50:13 AM
AM has a new account to follow: ASICMiner-PR
September 21, 2013, 08:42:41 AM
September 21, 2013, 08:15:38 AM
Dude why are you always using wring numbers? Only 250 BTC per hour are generated, a bit more if the network speed is on the rise, slightly more because of fees, okay let it be 300 BTC/hour,
I hate to be that guy, but since you corrected his numbers:
150 BTC are generated each hour (6 blocks per hour * 25 btc per block) non adjusted.
At a difficulty increase of roughly 33% average per period, we are closer to 200 BTC per hour in actual inflation.
Shouldnt it be 5 blocks? One every 10 minutes? So if you start with 0 minutes you cant take the block at 60 minutes into that hour too since the next hour wouldnt have a 0 minute block than.
In average 10min of course.
one at 10
one at 20
one at 30
one at 40
one at 50
= 6
*lol* youre right...
September 21, 2013, 08:07:46 AM
Dude why are you always using wring numbers? Only 250 BTC per hour are generated, a bit more if the network speed is on the rise, slightly more because of fees, okay let it be 300 BTC/hour,
I hate to be that guy, but since you corrected his numbers:
150 BTC are generated each hour (6 blocks per hour * 25 btc per block) non adjusted.
At a difficulty increase of roughly 33% average per period, we are closer to 200 BTC per hour in actual inflation.
Shouldnt it be 5 blocks? One every 10 minutes? So if you start with 0 minutes you cant take the block at 60 minutes into that hour too since the next hour wouldnt have a 0 minute block than.
In average 10min of course.
one at 10
one at 20
one at 30
one at 40
one at 50
= 6
September 21, 2013, 08:03:36 AM
Dude why are you always using wring numbers? Only 250 BTC per hour are generated, a bit more if the network speed is on the rise, slightly more because of fees, okay let it be 300 BTC/hour,
I hate to be that guy, but since you corrected his numbers:
150 BTC are generated each hour (6 blocks per hour * 25 btc per block) non adjusted.
At a difficulty increase of roughly 33% average per period, we are closer to 200 BTC per hour in actual inflation.
Shouldnt it be 5 blocks? One every 10 minutes? So if you start with 0 minutes you cant take the block at 60 minutes into that hour too since the next hour wouldnt have a 0 minute block than.
In average 10min of course.
September 21, 2013, 07:00:50 AM
What if friedcat does that on purpose? It allows him to buy back the shares very cheap.
This is nonsense. Friedcat and the others own huge amounts of shares 240,000 from memory, the idea that they'd drive prices to buy a few from the dozens that are traded each day is ridiculous. They have made a lot of money from dividends and I'm sure are rightly very happy with that.
September 21, 2013, 06:54:24 AM
What if friedcat does that on purpose? It allows him to buy back the shares very cheap.
September 21, 2013, 05:22:50 AM
... the human race takes John Kerry seriously and wipes its self out etc. ect.
Friedcat already wiped himself out (of this thread). September 21, 2013, 02:23:02 AM
Dude why are you always using wring numbers? Only 250 BTC per hour are generated
Clearly I had a brainfart. Just like you (its 150 not 250), only a bit bigger
September 21, 2013, 12:53:26 AM
Dude why are you always using wring numbers? Only 250 BTC per hour are generated, a bit more if the network speed is on the rise, slightly more because of fees, okay let it be 300 BTC/hour,
I hate to be that guy, but since you corrected his numbers:
150 BTC are generated each hour (6 blocks per hour * 25 btc per block) non adjusted.
At a difficulty increase of roughly 33% average per period, we are closer to 200 BTC per hour in actual inflation.
September 21, 2013, 12:31:42 AM
Of course there is a limit. That limit is profitability:
Total mining reward == total electricity cost + hardware write off.
IOW,
total electricity use per hour == ~3600 BTC / (Price Kw/H + hardware write off per hour).
Add any mining fees to that 3600 if you want, and divide by 2 for each block reward halving.
In reality over time hardware write off will become a non factor, and average electricity cost in BTC will be the only variable that will determine the overall electricity use of the bitcoin network.
No cycles or moons involved unless both electricity and hardware would be free, in which case you get div/0 or infinity.
Total mining reward == total electricity cost + hardware write off.
IOW,
total electricity use per hour == ~3600 BTC / (Price Kw/H + hardware write off per hour).
Add any mining fees to that 3600 if you want, and divide by 2 for each block reward halving.
In reality over time hardware write off will become a non factor, and average electricity cost in BTC will be the only variable that will determine the overall electricity use of the bitcoin network.
No cycles or moons involved unless both electricity and hardware would be free, in which case you get div/0 or infinity.
Dude why are you always using wring numbers? Only 250 BTC per hour are generated, a bit more if the network speed is on the rise, slightly more because of fees, okay let it be 300 BTC/hour, so for power price of 1BTC/MWh it would be just 300 Megawatts.
M2 money supply = $10,789B
Bitcoin market cap = $1.576B
10786/1.576 ~ 6846x
Today's price ~ $120
6846 * $120 = $821,543
Assuming (incorrectly) that the only fiat that can be displaced is the US dollar.
Times 1.36M a year, divided by avg $0.10/kW (It'd be much cheaper if you put the bitcoin hardware at the powerplant to avoid transmission losses)
1.36M * 821543 / .1 =1.117 e13 kW-h per year
About 8766 hours a year
1.117 e13 / 8766 = 1274582135 kW = 1.274 TW
That is an ecological disaster. Not to mention dirty, nasty sources of electricity will be used in an attempt to bring down the cost per kW-h (which will result in an increase in the total watts needed for equilibrium).
Bitcoin market cap = $1.576B
10786/1.576 ~ 6846x
Today's price ~ $120
6846 * $120 = $821,543
Assuming (incorrectly) that the only fiat that can be displaced is the US dollar.
Times 1.36M a year, divided by avg $0.10/kW (It'd be much cheaper if you put the bitcoin hardware at the powerplant to avoid transmission losses)
1.36M * 821543 / .1 =1.117 e13 kW-h per year
About 8766 hours a year
1.117 e13 / 8766 = 1274582135 kW = 1.274 TW
That is an ecological disaster. Not to mention dirty, nasty sources of electricity will be used in an attempt to bring down the cost per kW-h (which will result in an increase in the total watts needed for equilibrium).
And you, why are you comparing market supply with market capitalisation? You should either compare BTC money supply with $ money supply (but with BTC the money supply works differently so hard to compare), or BTC market cap to $ market cap (that's what I did).
But then even if whatever you say is ridiculously true then nobody really cares, the green ecocentric scum uses leftist governments every day to slow progress and raise costs for everyone, maybe at least with BTC they will suck because governments cannot defend them and their phony propaganda.
We'll use as much energy as we can afford, and we'll generate as much as we need, no way to change that.
September 20, 2013, 10:42:24 PM
"i dreamed a dream" - Morpheus.....RIP ASICMINER.
Sell all shares and watch from a distance. Thank you.
September 20, 2013, 09:57:06 PM
what just happened to labcoin again
and activemining just imploded (board resigned and liquidated all shares).
there's a shock. I said at the time Ken couldn't organize a piss up in a brewery let alone create a mining company.
September 20, 2013, 09:56:24 PM
"i dreamed a dream" - Morpheus.....RIP ASICMINER.
September 20, 2013, 09:54:15 PM
I went through old friedcat posts and realized that last three updates in this thread were posted month apart. And now it's around one month since last one. I guess we should expect update any day now. (last posts were june 21st, july 23rd and august 22nd)
yeah, another imaginery bitcoin for me (I get one every time someone says "FC is about to post")
September 20, 2013, 07:51:42 PM
so with Asicminer at 3% of the network, is the promise of some next generation chips really holding the share price up where it is?
I don't know, but this is the thinnest I've seen the bid order book in months. Less than 600 BTC on bids.
You must be new here.
September 20, 2013, 07:50:00 PM
so with Asicminer at 3% of the network, is the promise of some next generation chips really holding the share price up where it is?
I don't know, but this is the thinnest I've seen the bid order book in months. Less than 600 BTC on bids.
September 20, 2013, 07:49:03 PM
so with Asicminer at 3% of the network, is the promise of some next generation chips really holding the share price up where it is?
I don't know, but this is the thinnest I've seen the bid order book in months. Less than 600 BTC on bids.
Jump to: