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Board Economics
Re: Will Bitcoin always be dependent on fiat? Is it?
by
Drewski
on 25/02/2016, 00:40:01 UTC
It will be until the price stabilizes.  Because of the huge volatility of bitcoin right now, it's very risky pricing anything without constantly monitoring the price.
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Topic
Board Economics
Re: Is America a failed nation?
by
Drewski
on 24/02/2016, 23:50:36 UTC
Quote from: blackbird307 on February 23, 2016, 06:22:24 PM
Well I can tell you that it is not the land of the free or the place where you can make any dream come true. That is for sure.

The land of dreams doesn't mean that everybody gets everything they want.  As their constitution puts it, they have the right to life, liberty, and the pursuit of happiness.  The pursuit of happiness still requires hard work on the individual's part, or lots of luck in some cases.  There are places where you aren't guaranteed any rights at all.  What rights you have are what whoever is in power (or holding a gun to your head) at the moment decides you have.
Post
Topic
Board Bitcoin Discussion
Re: BITCOIN HALVING IS COMING!!!
by
Drewski
on 24/02/2016, 23:24:11 UTC
Quote from: pawel7777 on February 24, 2016, 10:52:57 PM
Quote from: Amph on February 24, 2016, 09:01:17 PM
bitcoin halving != bitcoin value increase

in the sense that the value will not come on the same date, it could come at the end of this year for all we know

I wouldn't be very surprised if we'll actually see a drop in the price on/close to halving day. But, if there are no other significant events, halving should definitely drive the price up in the longer term.

Quote from: vinaha on February 24, 2016, 09:30:53 PM
...
I presume the difficulty will decrease because many people will not be able to pay for the electricity mining only half of what they are mining now.
Until the price doubles, then they will turn on their rigs again.

Well, remember that we had BTC in $200 range for quite a long time and it didn't cause any massive reduction in hashing power (slight drop iirc). So anything above $450 should be sufficient.

Don't forget to factor in energy costs.  With oil tanking recently, energy prices should be coming down for most people, assuming their electricity provider doesn't just gobble up the profits.
Post
Topic
Board Goods
Re: [PRESALE] Just a few question to understand if this business could be possible.
by
Drewski
on 24/02/2016, 23:17:43 UTC
The only way that's going to be economical is if you're selling in huge lots, and I do mean huge.  As in shipping containers full, so they can be transported by boat and train, since almost any other method would be prohibitively expensive.  This all points to you needing a local distributor willing to take such a load.
Post
Topic
Board Bitcoin Discussion
Re: Strip Club Visitors Told to Pay Bitcoin Ransom or Risk Character Assassination
by
Drewski
on 24/02/2016, 23:14:34 UTC
Agreed.  Lots of people go to strip clubs for lots of reason.  I know of a couple that went to one cuz it's their anniversary and they wanted to have fun.
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Topic
Board Economics
Re: Long term OIL
by
Drewski
on 24/02/2016, 23:12:08 UTC
Well, if they can finally crack economical fusion power, it's gonna knock oil into a few niche markets.
Post
Topic
Board Bitcoin Discussion
Re: The thing that will destroy Bitcoin.
by
Drewski
on 24/02/2016, 23:08:56 UTC
The thing that's gonna kill bitcoin is the lag time between payment and confirmation.  Also, the need for escrow for larger transactions.
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Topic
Board Economics
Re: Long term OIL
by
Drewski
on 24/02/2016, 22:44:54 UTC
And nuclear, even fusion (when that shows up) isn't pollution free.  Thousands of tons of radioactive materials are being stored because we have no way to dispose of it.  Any fluids or materials that come in contact with the core become irradiated by neutron activation and we have no way of treating it other than putting it someplace out of the way for a very long time until it becomes less radioactive.
Post
Topic
Board Goods
Re: Lava Rocks
by
Drewski
on 23/02/2016, 00:33:36 UTC
Wow...I'm still trying to figure out who would pay to ship a rock?  Much less purchase a rock.
Post
Topic
Board Economics
Re: Is America a failed nation?
by
Drewski
on 23/02/2016, 00:08:58 UTC
Quote from: thoth-Atlantian on February 22, 2016, 11:36:27 PM

1. They have the biggest debt because they have the largest GDP.  They use debt as an instrument to fund growth.


Thats is called a ponzi in other terms, And how is that growth going? Debt reaches a point that cant be undone... Hence fails

No, a ponzi scheme doesn't generate any real growth, it takes new payments to pay off investors.

America's growth is a quantifiable number, it's GDP.  Without loaning money, that growth would be slower or non-existent.
Post
Topic
Board Economics
Re: Long term OIL
by
Drewski
on 22/02/2016, 23:51:41 UTC
Quote from: criptix on February 22, 2016, 11:21:04 PM
Quote from: Drewski on February 22, 2016, 11:17:08 PM
Quote from: criptix on February 22, 2016, 11:11:52 PM
Quote from: Drewski on February 22, 2016, 09:53:23 PM
Quote from: jaysabi on February 22, 2016, 08:31:43 PM
Quote from: arbitrage on February 21, 2016, 10:21:01 PM
Quote from: McDonalds5 on February 21, 2016, 09:06:55 PM
Combustion engine is actually 19th century technology. It's weird why an engine which is only 30% energy efficient is still being used. It's ancient. Electric cars are the future. Say bye to big oil in next decades. Lithium is the key.
Yes you are may be right. but what is price for electric car- purchasing price?
Producing price per car ? Maintenance, battery ?

Combustion engine may be an "ancient" technology, but it is so pervasive because for the amount of energy you get for the cost, combustion engines are cheap and easy. I also believe electric cars are the future. I currently own a hybrid car. Comparatively, a hybrid car costs a few thousand dollars more than the exact same non-hybrid version, about $2-3k. I've more than made up that cost in the years of driving it, so it's been a sound investment.

As for electric-only, there are plenty of viable models that are not overly expensive. The Nissan Leaf starts at $29k and the Chevy Volt starts at $33k. Tesla is working on a version now as well that will start in the mid-$30k range. The biggest limitation for electric-only vehicles for me is the range. I think the Leaf is around 100 miles, and the Volt offers 50 electric-only miles, though it does run on gas as well.

Well, the killer is not only the range.  It's also the recharge time.  The average gas vehicle goes about 300 miles before needing to stop for 2 minutes to fill up.  Even if you got a car that can do that 300 mile range, it will still take you hours (if quick charging) or most of a day (if not interested in killing battery) to recharge.  Hybrids make a lot more sense, especially for heavier use in urban centers.  Idling in a regular car is basically burning gas to power your radio.

no, you would exchange your discharged battery for a recharged one at the "gas" station.
but thats all future, we need better energy sources and then we can think about switching to the infrastructure needed.

Well, yes, that would be ideal, but it's not the case right now or in the near future.  Also, car manufacturers would need to agree to a battery standard to allow the same battery to fit in any vehicle.  Otherwise, it's gonna be fun driving around on a dying battery pack finding someone who's got your pack in stock.  And I think you mean energy storage rather than energy source.  And yes that does require lots of developing.  Some would say hydrogen is the answer, and it might be, assuming they figure out a way to store it without the threat of blowing up.

no i really mean energy source, not storage.
if we would have 100% clean energy (i.e. renewables, fusion) there would be not much of a problem to switching to electric cars.
but we are on world average around 20% maybe?
* im off, its 11% EIA: http://www.eia.gov/tools/faqs/faq.cfm?id=527&t=1

I have to disagree with you on that one.  It's not the source of the energy that's impeding the electric car.  It's the ability to carry and load that energy that's the issue.  It's not like we have a global energy crisis or anything.  To the end user, the power is coming out of the outlet, regardless of whether it was generated by renewables or not.
Post
Topic
Board Economics
Re: Long term OIL
by
Drewski
on 22/02/2016, 23:17:08 UTC
Quote from: criptix on February 22, 2016, 11:11:52 PM
Quote from: Drewski on February 22, 2016, 09:53:23 PM
Quote from: jaysabi on February 22, 2016, 08:31:43 PM
Quote from: arbitrage on February 21, 2016, 10:21:01 PM
Quote from: McDonalds5 on February 21, 2016, 09:06:55 PM
Combustion engine is actually 19th century technology. It's weird why an engine which is only 30% energy efficient is still being used. It's ancient. Electric cars are the future. Say bye to big oil in next decades. Lithium is the key.
Yes you are may be right. but what is price for electric car- purchasing price?
Producing price per car ? Maintenance, battery ?

Combustion engine may be an "ancient" technology, but it is so pervasive because for the amount of energy you get for the cost, combustion engines are cheap and easy. I also believe electric cars are the future. I currently own a hybrid car. Comparatively, a hybrid car costs a few thousand dollars more than the exact same non-hybrid version, about $2-3k. I've more than made up that cost in the years of driving it, so it's been a sound investment.

As for electric-only, there are plenty of viable models that are not overly expensive. The Nissan Leaf starts at $29k and the Chevy Volt starts at $33k. Tesla is working on a version now as well that will start in the mid-$30k range. The biggest limitation for electric-only vehicles for me is the range. I think the Leaf is around 100 miles, and the Volt offers 50 electric-only miles, though it does run on gas as well.

Well, the killer is not only the range.  It's also the recharge time.  The average gas vehicle goes about 300 miles before needing to stop for 2 minutes to fill up.  Even if you got a car that can do that 300 mile range, it will still take you hours (if quick charging) or most of a day (if not interested in killing battery) to recharge.  Hybrids make a lot more sense, especially for heavier use in urban centers.  Idling in a regular car is basically burning gas to power your radio.

no, you would exchange your discharged battery for a recharged one at the "gas" station.
but thats all future, we need better energy sources and then we can think about switching to the infrastructure needed.

Well, yes, that would be ideal, but it's not the case right now or in the near future.  Also, car manufacturers would need to agree to a battery standard to allow the same battery to fit in any vehicle.  Otherwise, it's gonna be fun driving around on a dying battery pack finding someone who's got your pack in stock.  And I think you mean energy storage rather than energy source.  And yes that does require lots of developing.  Some would say hydrogen is the answer, and it might be, assuming they figure out a way to store it without the threat of blowing up.
Post
Topic
Board Goods
Re: Original Lather Jackets
by
Drewski
on 22/02/2016, 22:44:28 UTC
I believe he is referring to your "Lather" jackets in the title.  You may want to change that.
Post
Topic
Board Economics
Re: Is America a failed nation?
by
Drewski
on 22/02/2016, 22:33:22 UTC
Quote from: nickenburg on February 22, 2016, 09:55:00 PM
Yes they are very failed, my opinion why:

First and 1 of the most important:

They have the biggest debt of all country's
They Still spend most money on The army and war
Guns are allowed
Politicians are corrupt
They try to scare the people all over the world with terrorism.


1. They have the biggest debt because they have the largest GDP.  They use debt as an instrument to fund growth.
2. Guns being legal is not in itself an evil, it's people being irresponsible with guns that are the issue.
3. All politicians are corrupt in some form or fashion.  Look at any country that allows campaign donations.
4. Terrorism isn't America's fault (entirely), though their interventions do seem to provoke it.
Post
Topic
Board Economics
Re: Long term OIL
by
Drewski
on 22/02/2016, 21:53:23 UTC
Quote from: jaysabi on February 22, 2016, 08:31:43 PM
Quote from: arbitrage on February 21, 2016, 10:21:01 PM
Quote from: McDonalds5 on February 21, 2016, 09:06:55 PM
Combustion engine is actually 19th century technology. It's weird why an engine which is only 30% energy efficient is still being used. It's ancient. Electric cars are the future. Say bye to big oil in next decades. Lithium is the key.
Yes you are may be right. but what is price for electric car- purchasing price?
Producing price per car ? Maintenance, battery ?

Combustion engine may be an "ancient" technology, but it is so pervasive because for the amount of energy you get for the cost, combustion engines are cheap and easy. I also believe electric cars are the future. I currently own a hybrid car. Comparatively, a hybrid car costs a few thousand dollars more than the exact same non-hybrid version, about $2-3k. I've more than made up that cost in the years of driving it, so it's been a sound investment.

As for electric-only, there are plenty of viable models that are not overly expensive. The Nissan Leaf starts at $29k and the Chevy Volt starts at $33k. Tesla is working on a version now as well that will start in the mid-$30k range. The biggest limitation for electric-only vehicles for me is the range. I think the Leaf is around 100 miles, and the Volt offers 50 electric-only miles, though it does run on gas as well.

Well, the killer is not only the range.  It's also the recharge time.  The average gas vehicle goes about 300 miles before needing to stop for 2 minutes to fill up.  Even if you got a car that can do that 300 mile range, it will still take you hours (if quick charging) or most of a day (if not interested in killing battery) to recharge.  Hybrids make a lot more sense, especially for heavier use in urban centers.  Idling in a regular car is basically burning gas to power your radio.
Post
Topic
Board Economics
Re: Is America a failed nation?
by
Drewski
on 22/02/2016, 21:44:07 UTC
Quote from: Anddos on February 22, 2016, 07:12:22 PM
It America is so great, then to whom is it in debt to? That's curious. Or are they in debt amongst themselves? Which would be the funniest thing ever.

They issue debt, in the form of T-bills, which others can buy.  The two biggest are actually China and Japan.  If you have mutual funds, you most likely have some in your portfolio as it's viewed as a very safe investment.
Post
Topic
Board Speculation
Re: How long is Bitcoin life?
by
Drewski
on 22/02/2016, 21:39:04 UTC
I'd expect the value to keep increasing everytime the reward halves, but I think the end's gonna come when a)transaction fees + mining can't make up for the cost of mining or b)someone either cracks the encryption or finds another loophole.
Post
Topic
Board Speculation
Re: Bitcoin Price Vs Bitcointalk (Posts,Registrations,PageViews)
by
Drewski
on 22/02/2016, 21:24:50 UTC
But you're implying that price is tied to popularity, which isn't necessarily true.  Prices are more driven by the costs associated with mining a coin than anything else.
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Topic
Board Beginners & Help
Topic OP
Efficiency of dedicated miner vs PC
by
Drewski
on 30/12/2015, 00:52:08 UTC
Was wondering if anyone can explain why a miner is so much more efficient at mining than a PC is.
Post
Topic
Board Mining
Re: Idea to extract hot air for better cooling efficiency
by
Drewski
on 30/12/2015, 00:00:44 UTC
Here's a curious idea.  Has anyone tried using peltier junctions to extract energy from the heat?  Say you stick one side on the heatsink of the miner and the other side out your window.  Obviously, the electricity produced depends on the temperature differential.  How big would the peltier junction need to be to keep pace with the miner?