Quote from: eb3full on September 06, 2013, 05:19:19 AM

friedcat was smart to pick 55nm/65nm 2nd gen node size; chip efficiency won't matter until China runs out of cheap electricity and space or the difficulty increases much, much more.

This doesn't make sense. We are already seeing the 130nm chips being too power hungry, of course it's only a matter of time before the 55nm chips use too much power as well.

Mind you, I'm not talking about power costs, I'm talking about finding locations with enough incoming power to actually run the miners.

The network is currently around 700 TH/s. ASICMiner is at ~40 TH/s. For ASICMiner to regain 10% of the network, they'd have to add 34 TH/s. At an efficiency of 8W/GH that's 272kW, and that's just to bring up the network share up to 10%.

I'm no data center expert, but from reading previous posts in this thread it was my impression that this posed a problem.

Quote from: Vycid on September 06, 2013, 02:41:42 AM

Let me document it this time: prior 7 blocks starting from this one (newest as of right now)

http://blockchain.info/block-index/414784/00000000000000040d3bd18e95ccb4c089bafaa4667f70efec145ae517e73e77

0.07420021 BTC
0.2445046 BTC
0.33552803 BTC
0.25201038 BTC
0.19562 BTC
0.18380026 BTC
0.19215369 BTC

Only one of those is even in the 0.3-0.5 range.

If someone would write a quick script and find the average over the past month that would be much appreciated.

Here are the stats from the last 70 blocks:

Code:

Analyzed 70 blocks containing 22,887 transactions.
-----Stats-----:

ASICMiner stats (7 blocks, 2730 transaction):
Average transaction count per block: 390.0
Maximum number of transactions in a block: 673
Minimum fee: -0.00000000
Average fee: 0.00054074
Average fees per block: 0.2109
Other blocks stats (63 blocks, 20157 transaction):
Average transaction count per block: 320.0
Maximum number of transactions in a block: 1054
Minimum fee: -0.00000000
Average fee: 0.00058110
Average fees per block: 0.1859

Quote from: lucasjkr on September 06, 2013, 12:39:54 PM

[...]

This is a major stumbling point to the fixed cap nature of bitcoin; the compensation that miners earn right now is from Bitcoins that are magically created out of thin air, once miners are forced to rely on fees and only fees to pay for energy consumption, as things look right now, and projecting from the trends we see in transaction fees per block (dangerous, yes, but it's data linked to reality rather than hope), absent a HUGE increase in BTC prices, there will be no reason for miners to mine, save for being a loss generating public service.

[...]

The network can adjust. There is no reason that all miners will stop simultaneously. The unprofitable ones will stop and the others will continue. So this might cause a fall in the network hashrate, that's entirely possible. But saying that all miners will chose to stop mining at once is unwarranted.