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Showing 20 of 40 results by Wilhelmus
This is because the block time is not something set in the rock, this is just an average. At the beggining these things surprised me but now that I know this, I simply know that it is a matter of luck.
The main difference lies in the fact that SegWit aims to restructure the block space to allow more transactions per block, while Unlimited aims simply to raise the blocksize to allow more transaction.
It will take you an eternity. Sadly nowadays Bitcoin mining came to a point where an individual not possessing expensive ASICs can not mine. I recommend you to do not mine with your laptop as you will basically burn it.
Yes, it is really possible, and lost 0,08BTC that way, only 16$ at that time, but much more now. However, since I placed a password to my wallet (yeah, was pretty stupid to don't put one : I thought I'd have to enter it each time I would get into my wallet 
), never had any problem 
!
), never had any problem !Re: Do you think Bitmain make better than 16nm in future? I think no.
What's sure is that they won't go further than GPU manufacturers, so if those only passed the 14nm mark, we'll wait a long time before we see 10nm or so.
Gekko sidehack stick? You're wasting your time though, they're toys. Not really ROI-able. I like mine, but its not something i'd(or could use) use to steal electricity from work and make money.
Maybe if you buy it using fiat money, and wait longer enough, you would make some money but you'll need motivation to don't touch the money so long !
Re: Would You Choose $50K Value Paid as Bitcoin, Gold or New Corvette
I'm glad that people did not get fooled by the Corvette. Bitcoin is a value-gaining asset. Buy today and wake up rich a decade or two, while at this time your Corvette, except if awesomely taken care of, will be valueless.
You need to tell us in which country you live. Because if it isn't someone who's living in your country, results might not be exact, because of the electricity price, of the heat, etc.
I am in Ireland, i am not sure is anyone else here from Ireland here mining. Would it matter what country i am in when i just need the data of actual bitcoin that was mined. I can adjust it then for electricity prices in my area
There's also the heat factor that needs to be taken in account. But in Ireland, there shouldn't have any problem I think.
First, they're a lot less big that I imagined them. I always represented the S7 as an ASIC with the shapes of a S4. Also, can you still do your gym in this piece ? Three pieces of such miners should produce an unsupportable noise.
Lol as is the case with most home-gyms I never use mine, I prefer to go to a public gym. The noise is deafening, but luckily the garage seperates the room from the rest of the house.
My electricity cost is R1.64 so about $0.11 per kwh but Bitcoin can be sold at at least a 10% premium over the international price in SA,, although this difference is dropping, a month ago there was a 15% premium
I doubt I will ever make lots of profit,, but it is fun
So funny the story of the public gym but so true
! Nice electricity rate that you have there. Isn't the heat a problem in South Africa ? Even if that's the country the most at the South of Africa (pretty logic name ), it might be hot, no ?First, they're a lot less big that I imagined them. I always represented the S7 as an ASIC with the shapes of a S4. Also, can you still do your gym in this piece ? Three pieces of such miners should produce an unsupportable noise.
I said that Bitcoin's price could potentially double for the halving, not that it will. I personally plan that the price will be around 600$, but mainly due to hype than the reduction of the supply. However, you are right, that it isn't a consummed product, and as simple as it is, I did not take this in account.
What you said was:
When I studied Economy, one of the first thing we learnt was that if the supply get reduced and the demand stay the same or drop a little, the price increase. The price of a Bitcoin is the price of how much it costs to produce. If you get two time less coins, price should get doubled, but you have to think that some mining farms will close. To don't have a price increase, you need that at least half of the mining farms close their doors after the halving. It may even be more but I won't do complex calculations here.
You did not say it could.... but that it should double. And said you learned Economy class.... again it would be more of a investment class that would make sense to cover it. A advanced one dealing with currency trading would be far better then econ101 class that might have a page on crypto (and most don't have that).
It is a free market on bitcoin so there are no guarantees of doubling, and we can't say "it should double" as it is not that simple. Also it is a currency it is not a simple good like products normally focused on econ basics. Look since january it almost haved on difficulty.... and did price did not double.
There are just so many varibles it's far from simple to speculate. And with having being known... it will not sneak up on us. Investors could be considering it with current prices already. Fact is we don't know months in crypto time is just to long to give good speculation.
That's true that my courses didn't had a crypto-currency chapter. When I said it should, I meant : in a theorical common market, dominated by supply and demand, the price would normally double. I know that it isn't true at all in Bitcoin, and I was not very clear about this point.
You could go with an Antminer S5 in which you could purchase 2nd hand of those in this forums computer and hardware section. It requires 590 watts from the wall. The sad thing is, your not going to make much but if you start right away, you could get back your investment just before the halving (assuming you got it for a good price) and anything after that would be profit.
What he could also do would be to buy bitcoins with his local currency, then buy the miner with the bitcoins. This way what the miner would have cost him in fiat money is stable, and he will be able to profit from the price increase that has 99% of chances to happen after or just before the halving.
It would cost fiat though .... "local currency" if fiat money (in almost all cases) and he buys coins with it. That just means buying BTC with fiat instead of miner with fiat. But really it does not make that big of difference as either way he is spending fiat to get a miner in this case.
Also having there is not guarantee of increase. We hope and speculate it's there. But it's no 99 percent sure thing, investors know about it now so it's not like it will sneak up on them.
When I studied Economy, one of the first thing we learnt was that if the supply get reduced and the demand stay the same or drop a little, the price increase. The price of a Bitcoin is the price of how much it costs to produce. If you get two time less coins, price should get doubled, but you have to think that some mining farms will close. To don't have a price increase, you need that at least half of the mining farms close their doors after the halving. It may even be more but I won't do complex calculations here.
I can pretty much promise your Econ101 did not cover crypto currency. Bitcoin there are more coins every day when blocks are found. Yes there is a supply and a demand.
BUT btc is determined by the free market of investors on what its worth. So having in coins does not mean you get double price for btc coins. Look at difficulty we almost haved since January as far as difficulty going up. Did coin price follow and go up with it.... no not to that extent.
Plus the supply of bitcoins will not "halve"; the rate of increase will halve. All the bitcoins in existence today will still be there. It is not like a consumable item (food or electricity for example) where a halving of the supply would have a demonstrable impact. I'd be happy to be proved wrong but I really doubt if there will be a significant price increase at the halving.
I'm not sure it was not part troll after re-reading it. Almost has a bit trolling or someone is just not as seasoned as they thought.
If you look since January we have almost haved in due to difficulty.... did we get a jump of 2x .... no. It just is not that simple on btc value it is very hard to speculate. But all investors know about having so again nothing is going to sneak up on us.
I speculate we see some increase before, but I don't see double due to "supply".
I said that Bitcoin's price could potentially double for the halving, not that it will. I personally plan that the price will be around 600$, but mainly due to hype than the reduction of the supply. However, you are right, that it isn't a consummed product, and as simple as it is, I did not take this in account.
You could go with an Antminer S5 in which you could purchase 2nd hand of those in this forums computer and hardware section. It requires 590 watts from the wall. The sad thing is, your not going to make much but if you start right away, you could get back your investment just before the halving (assuming you got it for a good price) and anything after that would be profit.
What he could also do would be to buy bitcoins with his local currency, then buy the miner with the bitcoins. This way what the miner would have cost him in fiat money is stable, and he will be able to profit from the price increase that has 99% of chances to happen after or just before the halving.
It would cost fiat though .... "local currency" if fiat money (in almost all cases) and he buys coins with it. That just means buying BTC with fiat instead of miner with fiat. But really it does not make that big of difference as either way he is spending fiat to get a miner in this case.
Also having there is not guarantee of increase. We hope and speculate it's there. But it's no 99 percent sure thing, investors know about it now so it's not like it will sneak up on them.
When I studied Economy, one of the first thing we learnt was that if the supply get reduced and the demand stay the same or drop a little, the price increase. The price of a Bitcoin is the price of how much it costs to produce. If you get two time less coins, price should get doubled, but you have to think that some mining farms will close. To don't have a price increase, you need that at least half of the mining farms close their doors after the halving. It may even be more but I won't do complex calculations here.