Well, it has a few advantages over the alternatives, which combined with being potentially unstoppable gives bitcoin potential to get very popular.
You also have to take into account that if it becomes a significant choice for storing value, the value will be based on the fraction that's circulating and not 21 million.
Topic: Does anyone remember the hashing performance of the original BTC Client? (Read 2156 times)
July 01, 2011, 05:53:05 PM
July 01, 2011, 05:29:14 PM
If I remember correctly I actually got about 500-600 khash/s on my desk computer, and something like 250 on my laptop. (In like jan/feb 2010).
Of course, I regret not mining and buying more early on, but I think I'll be pretty well off in a few years anyway.. Bill Gates level is fine for me, I don't need a small countrys GDP to have fun in life ;P
Ok. Of course, I regret not mining and buying more early on, but I think I'll be pretty well off in a few years anyway.. Bill Gates level is fine for me, I don't need a small countrys GDP to have fun in life ;P
The entire bitcoin economy is only $100 million. Which is a rounding error in Bill Gates' dividend calculation.
You must belive that bitcoins are going to take over the entire economy to get up to his wealth.
July 01, 2011, 05:25:10 PM
If I remember correctly I actually got about 500-600 khash/s on my desk computer, and something like 250 on my laptop. (In like jan/feb 2010).
Of course, I regret not mining and buying more early on, but I think I'll be pretty well off in a few years anyway.. Bill Gates level is fine for me, I don't need a small countrys GDP to have fun in life ;P
Of course, I regret not mining and buying more early on, but I think I'll be pretty well off in a few years anyway.. Bill Gates level is fine for me, I don't need a small countrys GDP to have fun in life ;P
July 01, 2011, 05:02:25 PM
The same as the current CPU-Miner program that you can download seperately?
I wonder why the original users didn't mine? What else could you do with it the first few months?
No, the same as the one that's included in the official client.I wonder why the original users didn't mine? What else could you do with it the first few months?
The reason for not mining would be turning off computer at night, not wanting to waste cpu, forgetting to start bitcoin after reboot etc. Since they were worth practically nothing the incentive for generating coins were low.
I generated for a short time when I first discovered bitcoin, but then I forgot about it for some months, and never started generating again, since getting maybe one block every few days was not as fun as getting 5-10 a day.
July 01, 2011, 04:59:53 PM
The same as the current CPU-Miner program that you can download seperately?
I wonder why the original users didn't mine? What else could you do with it the first few months?
No, the same as the one that's included in the official client.I wonder why the original users didn't mine? What else could you do with it the first few months?
The reason for not mining would be turning off computer at night, not wanting to waste cpu, forgetting to start bitcoin after reboot etc. Since they were worth practically nothing the incentive for generating coins were low.
I generated for a short time when I first discovered bitcoin, but then I forgot about it for some months, and never started generating again, since getting maybe one block every few days was not as fun as getting 5-10 a day.
You must be positively hating life after actually downloading the client and running it, and still not mining a few million dollars worth of bitcoins.
July 01, 2011, 04:55:40 PM
The same as the current CPU-Miner program that you can download seperately?
I wonder why the original users didn't mine? What else could you do with it the first few months?
No, the same as the one that's included in the official client.I wonder why the original users didn't mine? What else could you do with it the first few months?
The reason for not mining would be turning off computer at night, not wanting to waste cpu, forgetting to start bitcoin after reboot etc. Since they were worth practically nothing the incentive for generating coins were low.
I generated for a short time when I first discovered bitcoin, but then I forgot about it for some months, and never started generating again, since getting maybe one block every few days was not as fun as getting 5-10 a day.
July 01, 2011, 04:47:30 PM
http://bitcoin.svn.sourceforge.net/viewvc/bitcoin/trunk/main.cpp?view=markup&pathrev=1
Line 2213.
Looks the same.
I know at least 10 people who were using bitcoin in early 2009, but I'm not sure all were generating.
The same as the current CPU-Miner program that you can download seperately?Line 2213.
Looks the same.
I know at least 10 people who were using bitcoin in early 2009, but I'm not sure all were generating.
I wonder why the original users didn't mine? What else could you do with it the first few months?
July 01, 2011, 04:42:01 PM
http://bitcoin.svn.sourceforge.net/viewvc/bitcoin/trunk/main.cpp?view=markup&pathrev=1
Line 2213.
Looks the same.
I know at least 10 people who were using bitcoin in early 2009, but I'm not sure all were generating.
Line 2213.
Looks the same.
I know at least 10 people who were using bitcoin in early 2009, but I'm not sure all were generating.
July 01, 2011, 04:41:27 PM
No one remembers?
July 01, 2011, 04:20:36 PM
5 mhash average???
yep, look at this chart:http://bitcoin.sipa.be/speed-ever.png
The difficulty stayed at 1 the whole first year (2009), because there were only a handful of nodes on the network. In other words, at 2 MH/Sec, you could have mined almost 700,000 bitcoins the first year with just a middle of the road dual-core CPU.
Which would be worth around $10 million now.
Read it and weep
July 01, 2011, 04:07:11 PM
5 mhash average???
July 01, 2011, 04:05:37 PM
Was it about the same as the latest CPU-miner? CPU-Miner seems to get around 1~2 MH/S per core.
I am wondering this, because the average network hashing rate for the first year of bitcoin's existence was around 5MHash/S. That would mean there were on average, only 5 nodes in the bitcoin network the first year.
Also, when did the client start supporting external miners?
I am wondering this, because the average network hashing rate for the first year of bitcoin's existence was around 5MHash/S. That would mean there were on average, only 5 nodes in the bitcoin network the first year.
Also, when did the client start supporting external miners?
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